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I can’t pay my mortgage, credit cards, car loan. I need help. I’m Steve Kramer. I’m a Florida bankruptcy and foreclosure attorney. And today we’re going to talk about situations that you might be facing where you’re upside down in your house, you don’t have the cash flow to pay your bills, you may be delinquent on your credit cards, you may be struggling, you may have medical debt. And the question is what do you do? And there’s a variety of options. I’m not here to tell you that bankruptcy is the best option for you. It’s certainly an option. Depending on your family’s size and your income, you may be able to file a Chapter 7 bankruptcy. And a Chapter 7 bankruptcy is a liquidation of your debts. Now if your income is too high or there are certain assets that maybe you want to keep and preserve, or maybe you want to do a repayment plan, then we might be able to look at a Chapter 13 bankruptcy – which is more of an extended repayment plan and might last from 3 to 5 years. And finally, we have another option and that is we can negotiate on your behalf. We can defend a foreclosure for you, if you’re dealing with a foreclosure. If you’ve got lawsuits, maybe you’ve got just one credit card that maybe you owe $20,000 dollars on. We might be able to defend that lawsuit and negotiate a resolution on that credit card were you may walk away owing a couple thousand dollars or maybe you’ll owe a little bit more. But we can usually come up with a settlement plan or a payment plan that might work out for you that’s outside of bankruptcy, that’s outside of putting yourself in the position where you have to liquidate everything that you own and file a bankruptcy and liquidate your debts. Whether you file a bankruptcy, whether you’re in debt, whether you’re dealing with a foreclosure, it doesn’t mean that you have to give up your house. There’s other options; you can still save your house even if you file a bankruptcy and even if you have other debts, you can still save your house. In Florida, we have Homestead Protection and that basically makes your house sacrosanct – it protects it. Now if you file a bankruptcy, you may want to walk away from your house. If you’re very upside down, if you can’t afford to make the payments, then it may make sense to give up your house if you can go ahead and get out of the debt. But you don’t have to. The bottom line is we’re willing to look at all the options and make sure that whatever we do is a plan that’s tailored to you. We want to have all the options on the table. We’re not here to push you in any direction. We’re here to help you find the right solution for your particular situation whether that be bankruptcy, defending a foreclosure, going ahead and negotiation debts, whatever. That’s what we’re here to do. I’m telling you this because I deal with this all the time and I’ve seen people pushed into bankruptcy or pushed down one road or another road - they didn’t need to go down that path. So if you have questions, call me. I’d be glad to sit down with you and give you advice in any of these directions that you want. I’m Steve Kramer. Thanks for watching.
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