One of the things that you should consider this time of year is the timing of filing your bankruptcy case. The “timing” of filing your case can impact your ability to receive any income tax refund that you may be due. Your goal should be to receive your refund before you file so that you […]
One issue that always comes up during an initial consultation is how filing bankruptcy will affect a person’s credit score. Everyone knows that filing bankruptcy will have a negative impact. But what people really want to know is “the number” because everyone wants to focus on credit score. The FICO score has become industry standard […]
The worst consequence of the real estate bubble bursting here in southwest Florida is that people are in real jeopardy of losing their homes. Property values have declined here in Fort Myers and especially in Cape Coral to the extent that many homes are underwater – more is owed on the home than it’s even […]
When the real estate bubble burst here in Southwest Florida it left many property owners underwater, owing more on the property than it will be worth for years and years to come. This has caused some property owners to default – sometimes strategically – to allow the bank to foreclose on the property. Others explore […]
For individuals seeking bankruptcy protection, a common question that often comes up involves credit scores and how much they will be impacted due to a Chapter 7 or Chapter 13 filing. While we have already addressed this important topic in the past, it is very important to understand how the 3 major credit bureaus (Experian, […]
Foreclosures in Florida occur when a property owner is delinquent on his or her mortgage payments. A foreclosure case is a judicial proceeding that allows the lender to get legal title and possession of the property so that it may thereafter sell it to recoup as much of its money as possible. Unlike some states, […]
As the term implies, debt consolidation is the process of combining all of one’s debts into one consolidated payment. A debt consolidation company or credit counseling agency will try to negotiate reduced rates with all creditors, then collect payments from the debtor and distribute the money to creditors. On the other hand, a Chapter 7 […]
A debt validation letter is a letter drafted by a debtor (or debtor’s representative) requesting that a collection agency prove that the debt they are attempting to collect is legitimate, accurate, and valid. Furthermore, it establishes that the collector has a legal right to collect that debt. Upon receiving a debt validation letter, a collection […]
Some years ago, filing bankruptcy had a certain social stigma attached to it and individuals seeking Chapter 7 relief were perceived to be “irresponsible” or “bad people.” This couldn’t be further from the truth then, and it couldn’t be further from the truth now. In fact, it’s estimated that approximately 70% of individuals seeking Chapter […]
One of the most common questions asked by those considering a bankruptcy is how much their credit score will drop after their bankruptcy is filed and their debt is discharged. While there is no clear-cut answer to this question, the Fair Isaac Corporation (FICO) has given us some hints by disclosing approximately how much an […]
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