Miami Bankruptcy Attorneys
It is an unfortunate fact of our society today, but there are many decent and hard working people who have experienced a financial situation that puts too much burden on their finances to survive financially. Situations such as a lost job, reduced hours at work, or pay cut, divorce, a recent disability or a mortgage payment that is beyond their means can leave even the most organized and prepared person in a financial hardship. Once the outflow of money is more the inflow it is easy to wonder how can I get out of this mess before it turns into a financial disaster.
Filing for bankruptcy protection in Miami, Florida may be one option that should be considered. Your Miami bankruptcy lawyer will be able to evaluate your financial situation and give you guidance on whether they think that bankruptcy is a solution that could be considered. Most bankruptcy attorneys offer a free initial consultation to review your financial data and help you decide if bankruptcy is something you want or need to do.
It is a good idea to seek the help of a qualified bankruptcy attorney prior to withdrawing any money from a qualified account such as IRA or 401k plan to pay down your debt. The reason is that your qualified retirement accounts are exempt in most bankruptcy proceedings and most judgments. This means that if you file for bankruptcy in Miami, the assets inside of your IRA, 401k, whole life insurance, annuities, etc will be exempt and untouchable by the bankruptcy trustee. Again, every financial situation is unique as are most bankruptcy cases. It is important to seek the guidance of a qualified Miami bankruptcy attorney prior to paying or negotiating with any of your creditors.
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Get A Free Consultation With A Miami Bankruptcy Lawyer
I would also suggest that you seek a qualified Miami bankruptcy lawyer prior to taking a second mortgage or equity loan on your home to pay an unsecured creditor such as a credit card company prior to speaking with a Miami bankruptcy attorney. The reason is that your home and any mortgage on that home is a secured debt, while a credit card is an unsecured debt. In most Chapter 7 bankruptcy proceedings in Miami a person’s unsecured debt is wiped out. Prior to borrowing any money from the equity in your home or withdrawing any money from your retirement accounts it would be wise to speak to a qualified Miami bankruptcy lawyer.
