Whether you are trying to pay off debts before or after a bankruptcy filing, there are a number of things you need to do to avoid mistakes along the way. Over 94,000 people file for bankruptcy in the state of Florida each year. For those who file for Chapter 13 bankruptcy, finding a way to make the payments they have agreed on to their creditors is a must. Neglecting to pay these debts may lead to the need for a second bankruptcy filing. Below are some of the things you can do to make yourself a lean and mean debt paying machine.
True or false: if I make a lot of money or have a lot of assets, then I can’t file for Chapter 7 or Chapter 13 bankruptcy in the state of Florida.
Don’t fall for that common myth about bankruptcy for millionaires. Even if you have a high net worth, you’re eligible to file for Chapter 7 or Chapter 13. In fact, bankruptcy is a smart solution for many savvy business people whose entrepreneurial ventures fail, or who don’t have enough capital to satisfy their business liabilities. The advantages of bankruptcy can also help employees forced to take early retirement from a well-paying job.
At Orlando’s Badgley Law Group, we help many clients file bankruptcy with their tax refunds. We understand that when finances are tight, using your IRS refund check to pay for bankruptcy proceedings is a simple solution. If you’re considering this route, however, beware of this disturbing trend: electronic tax scams.
When it comes to petitioning for bankruptcy, are you one and done? Just how often can you file for bankruptcy in Orlando?
Florida bankruptcy laws do not limit how many times you can file a Chapter 13 bankruptcy, and one Tampa Bay area man is taking advantage: since 2002, Paul Stenstrom of Tarpon Springs has asked the court 15 times for debt relief. Stenstrom has struggled under the weight of his mortgages, back taxes, and child support, and his filings have successfully stopped foreclosure on his home.
Studies show that medical debt is the leading cause of bankruptcy in our country, as evidenced by the trending search phrase “problems paying my medical bills.” For the millions of Americans struggling with this burden, filing for bankruptcy with a local attorney can be a tool for gaining financial freedom. Read on to learn how Chapter 13 bankruptcy can help get rid of medical debt.