Alberto Hernandez Bankruptcy Attorney Miami, FL Blog
Can I Buy A Home After Filing Bankruptcy?
One of the biggest parts of the so-called "American Dream" is purchasing your own home. However, if you have filed for bankruptcy, this may be a dream deferred. As discussed in other blog posts, re-building your credit takes time and effort on your part but it is not an unreachable goal. This same concept applies towards big-ticket purchases, such as real property, post bankruptcy discharge. In order to be able to qualify for a mortgage loan, one thing you must do is show that you are in good [...]
Should I file for Chapter 7 or Chapter 13 Bankruptcy?
When considering filing for bankruptcy, there is often confusion as to which Chapter to file under Chapter 7 or Chapter 13. When you meet with your bankruptcy attorney, it is important to bring all financial documents to accurately calculate your yearly income and see which chapter you may qualify for. On May 1, 2014, the median income for individuals and families filing for Chapter 7 bankruptcy changed to the following: State 1 Earner 2 People 3 People 4 People* Florida $41,939 $52,598 $54,742 $64,122 What this essentially means is that [...]
What Is An Automatic Stay? …in Bankruptcy Case!
The phone calls from collection agencies start promptly at 8:00 am. They call you multiple times during the day; on your cell, at work, and at home. They leave you messages ranging from the simplistic automated calls that say "please call us back for an important message" to the intimidating messages demanding payment. These calls often leave people scared and confused and some go through great lengths to avoid these calls by changing their phone numbers and blocking the calls. However, avoiding these [...]
Chapter 7 Bankruptcy Reaffirmation Agreement
While in the process of a Chapter 7 Bankruptcy, you are likely to be asked to sign a reaffirmation agreement for a specific debt. A reaffirmation agreement is a contract signed by you and a creditor to essentially keep a debt active, despite your bankruptcy filing. The first question you may be asking yourself is: Why would I ever want to keep debt when I'm getting rid of everything in my Chapter 7 Bankruptcy case? If you have secured debt, which is classified [...]
How to Reestablish Your Credit After Filing Bankruptcy
You've worked years to get your credit established and due to unforeseen circumstances, your credit rating has become less than stellar. You have exhausted your options trying to negotiate with creditors, paying minimum balances and struggled to stay afloat. Once you meet with an experienced Miami bankruptcy attorney, such as those at The Law Offices of Alberto Hernandez, P.A., one of the first questions you may ask is "When can I reestablish my credit?" Filing for bankruptcy does not mean that you will be blacklisted forever, as many urban myths [...]
Student Loans and Bankruptcy Protection
The National Association of Consumer Bankruptcy Attorneys is holding its 2015 annual convention on April 23, 2015, in Chicago, Illinois. Of particular interest of conversation and topic to be discussed at this meeting will be the subject of student loans. For years, the Association has been championing common sense reforms to allow students to refinance their high-interest student loans and to restore bankruptcy protections to private student borrowers. As a bankruptcy attorney in Miami, Fl., the issue of delinquent student loans and repayment [...]
Is it Harder to File Chapter 7 Bankruptcy in Miami Now?
Many so-called credit repair agencies throughout South Florida have been preaching that you must pay your bill because it is impossible for you to file bankruptcy in Miami nowadays! Yes, it may be harder now for people with high income and assets to file bankruptcy under the new changes to the means test because many were abusing the system as usual and now all have to pay the consequences. The fact remains bankruptcy still one of the most used legal instrument to get rid [...]
The Benefits of Mortgage Modification through the Florida Bankruptcy Court
Most people think that bankruptcy court mortgage modification is just another government program that will substantially contain the same tough eligibility requirements and the many time's ineffective government programs like HOPE, HARP, and the Making Home Affordable Programs of the last few years. The Loss Mitigation Mediation Program, commonly known as the LMM Program, is indeed a federally funded program serving debtor mortgage loan borrowers in the South Florida community. Like its other debt relief counterparts, the LMM Program attempts to serve those [...]
The Student Loan Debt Relief Secret
Student loans are a necessary evil to many in today's business and work environment. Incurring debt to be able to go to school for the first time or to continue your education to qualify for job position requirements or a chance at a better paying job or promotion seems a no-brainer especially when even the President and Congress have made it easier to get loans in these recent times. Studies show there is a growing trend of student loan default amongst borrowers of all ages [...]