Alberto Hernandez Bankruptcy Attorney Miami, FL Blog
New Foreclosure Program is Successful
The bankruptcy court of the Southern District of Florida, which includes cases from Key West to West Palm Beach, has approved a new foreclosure mediation program. The loss mitigation program or (LMM) is foreclosure program supervised by the court help borrowers and lenders negotiate loan modifications and other loss mitigation alternatives and was created to ensure fair play by all parties in the process. The program, which recently began in April 2013, has now resulted in many borrowers negotiating loan modifications and other [...]
What do I need to File Bankruptcy?
Most people try to pay their bills on time until it is almost impossible to do so without going hungry. Some people with insurmountable debt borrow from family and friends until it is no longer possible. Still, for some folks lucky enough to have a job while in debt, sometimes there are not enough work hours in the day or the necessary overtime to catch up on bills and financial responsibilities. When everything fails many must consider bankruptcy. But why consider bankruptcy? Debt just [...]
Do I qualify for a Mortgage Loan Modification?
The Southern District Division of the Florida Bankruptcy Court, including the counties of Monroe, Miami-Dade, Broward, and Palm Beach County, now allows for loss mitigation options to be negotiated through the bankruptcy court system including the modification of mortgages as of April 1, 2013. The purpose of the LMM program in the bankruptcy setting is to facilitate fair communication between the creditor bank and the debtor in order to arrive at a final resolution of delinquent mortgages. Most importantly, the program includes possible [...]
If I file bankruptcy can the process help me with my delinquent mortgage payments?
One of the most common subjects of conversation in my office revolves around a discussion of what to do with the property of a client who has promised to make mortgage payments to a bank but has fallen behind on these payments. Most often the scenario involves a principal residence or investment home that is "underwater", i.e., the value of the property is worth less than what was originally promised at the time of the purchase of the home. Additionally, the obligated debtor [...]
What Do I do When I get a Summons or Lawsuit Complaint?
Most people cringe at the sight of a summons and complaint delivered by a sheriff or a process server. Please do not kill the messenger, you are being sued by someone and these folks are just doing their job and that is why they need to find you. Most process servers will try to serve you either early or late in the day because that is when you are most likely to be home. If they cannot find you at home, they will try [...]
When Should I Consult a Miami Bankruptcy Attorney?
In my experience, most people in South Florida who seek advice regarding their debt and bankruptcy options want to pay some or all of their debt outside of bankruptcy if the creditors would give them a viable way of paying for that debt. Many times it is obvious that if only the creditor would accommodate the client, there would be no need for a bankruptcy. Bankruptcy may not always be the best solution. For example, sometimes the client has only one debt; it is [...]
Do I lose my assets If I file for bankruptcy protection?
One of the main things to take into account before deciding to file for bankruptcy protection from creditors is to know if a prospective client may lose assets or property in the process. It is the duty of a bankruptcy attorney to discuss any remote possibility that their client's property or assets may be at risk. This is true because the average layperson comes to the attorney's office with the expectation that a bankruptcy filing will eliminate all of their debts with no [...]
3 Things You Should Not Do If You Are Considering Bankruptcy
Bankruptcy law frowns upon certain actions taken by the individual's filing within a period of time before the bankruptcy filing. Bankruptcy filers must file their cases in good faith, disclose all assets and income, and disclose all financial actions taken before the bankruptcy. Certain actions taken by bankruptcy debtors before the filing, may cause a delay in filing your case or worse, may cause you to have financial penalties. In order to ensure that your bankruptcy case goes smoothly and does not receive [...]
Surprise! The Creditor Took My Money.
Garnishment can be a nightmare. Without much warning, you can wake up to find your account overdrawn or part of your wages missing from your paycheck. A garnishment is a way for a creditor to receive repayment for a debt that you owe. If you have debt, it is important to know who can garnish your wages or bank accounts. This way, you can work on taking care of these debts immediately before a garnishment is ever started against you. Student Loan Debt: [...]