Financial Slip-ups to Avoid.
Raiding your 401(k). Don’t think of retirement savings as “now” money. It’s money you’ve got to save for later. “Some people use their IRAs, and wind up in bankruptcy,anyway.” Even if you end up having to use it post bankruptcy, it will go a lot further towards survival of your family after bankruptcy;
5 Dumbest Things Not to Do Prior to Filing Bankruptcy (Part 1)
1. Don’t tap your retirement funds. One frequent mistake made by people in financial trouble is to take money out of a 401k plan or IRA in order to pay things like credit card debt. Retirement funds like 401Ks and IRAs are protected from both creditors and bankruptcy trustees. Creditors can’t take the money, and there […]
Financial Mistakes That Lead You to a Bankruptcy
There is no shame in bankruptcy. That is a point we have tried to emphasis throughout this site. Things happen, and you sometimes need help to get through it. While it is better to file for bankruptcy rather than let debts that you can’t afford to repay pile up, it is even better to not […]
Why You Need a Bankruptcy Lawyer Port St Lucie
Over the last several years as a Bankruptcy Lawyer Port St Lucie, I have seen folks struggle against overwhelming odds to keep the bills paid, food on the table for their children, clothes on their back and a roof over their heads. Many soon find themselves cutting back on groceries, medical and dental care to […]
Reasons For And Against Filing Personal Bankruptcy
On the other hand, when you file for bankruptcy, you can: If you would like to schedule a FREE consultation with a Bankruptcy Lawyer Port St Lucie, please contact Jon L Martin Bankruptcy Attorney at (772)419-0057 or visit us online www.jonlmartinlaw.com. With over 40 years of combined legal and business experience, we have helped hundreds of people in […]
11th Circuit Agrees, Home Surrender is Permanent
Failla v. Citibank, N.A. (In re Failla), 838 F.3rd 1170 (11th Cir. 2016) The 11th Circuit has agreed that once a debtor makes the election to surrender their home on the statement of intention in the petition they cannot then turn around and “undo” the surrender and oppose a foreclosure in state court. The court went so far […]
Small Business Bankruptcy Filings Increase
Small business owners filed 2326 cases under Chapter 13 which represented an increase of 10% from 2015. Thus, closely held businesses, and dba’s that qualified to file chapter 13, mirrored somewhat the Chapter 11 business filings (up 2% at 7,450), and represented the only significant increase in bankruptcy filings for 2016 according to the judicial […]
Reasons For And Against Filing Personal Bankruptcy
Bankruptcy Lawyer Port St Lucie Jon L Martin reviews some of the reasons NOT to file for bankruptcy: On the other hand, when you file for bankruptcy, you can: Put a stop to the harassing telephone calls and letters from debt collectors, and halt any progress being made in collection lawsuits filed against you.Stop a […]
Outlook on Bankruptcy For 2017
No one knows for sure what the future holds but sometimes it’s good to take a look at where we’ve been and where we’re at now to see if there are indications of what we can expect going forward. Not the least of these is the fact that we have a new administration in Washington […]
What are the different types of bankruptcy?
There are numbers of different chapters that people can utilize in a bankruptcy code. Chapter 7, of course, is for consumers and businesses that wish to liquidate debt. Chapter 13 is generally restricted to consumers who for one reason or another wish to retain certain property, that otherwise, they would not be able to; and allows […]
