Bankruptcy - Business Person holding an empty wallet. Man showing empty wallet by showing the inconsistency and lack of money and not able to pay the loan and the mortgage.

The holiday season for many of us is a time to reflect and reset our goals for the upcoming year and for many of you those goals involve getting your finances straight in the new year.  Making ends meet is difficult enough. However, there are many people who struggle under an extremely heavy debt load, and getting out from under that financial burden is or should be a top priority. If you are considering debt relief options, bankruptcy may be a great option to get yourself back on track.

Chapter 7 bankruptcy is an option where those with little or no exempt assets can reset their situation and discharge their debt in as little as 4 months from filing without paying unsecured debts off.

For those who may not qualify, Chapter 13 is a great option as it allows you to come up with a repayment plan to set finances straight over 3-5 years.  This allows most people the ability to catch up on secured debts such as mortgages and car payments and paying a minimum amount to unsecured creditors.  The great advantage to Chapter 13 is that you control the repayment to creditors utilizing the Bankruptcy Code at no additional interest.  This compared to continue to struggle with credit card payments and other options that bury you in interest and fees that at standard pace set payments out at 10 or more years.

For those who are considering their debt options in the New Year, bankruptcy certainly deserves some thought. While bankruptcy is rarely anyone’s first choice of action, it is a valuable tool that can help regain financial stability, and return some normalcy to your life. Having a knowledgeable and experienced Bankruptcy attorney on your side to review your situation and guide you through the process is invaluable. Discuss your circumstances with us and let us help determine your best course of action. It is truly a New Year’s resolution worth keeping.

Home For Sale Real Estate Sign in Front of New House.

Even though you have received a contract to purchase your property there are a number of things you need to do to be prepared to close the deal.  For those who do not regularly participate in real estate transactions, the list can be particularly daunting.  The contract lays out several obligations of the seller which may be apparent in the contract and many that are not specifically mentioned in the contract such as:

  1. Attorney modifications and inspection issues
  2. Title insurance
  3. Deed
  4. Title clearance issues
  5. Municipal requirements and state and local transaction taxes
  6. Survey
  7. Mortgage payoffs
  8. Homeowner Association requirements

Making sure you have done all that is required of you to close can be stressful and time consuming.  Without an attorney you could find yourself at the closing table missing several items and incur the legal consequences of defaulting on one of your obligations. This is why it is imperative that sellers contact an experienced local Real Estate Attorney to assure your transaction closes smoothly with little or no bumps along the way.  Our office has years of experience successfully handling residential real estate transactions for our clients of various backgrounds from “For Sale By Owner” (FSBO), real estate investors, job relocations, and everyday people.  A Real Estate Attorney can assure that these and more are all taken care of prior to closing as well as make sure that they hold the Buyer’s to their own contractual obligations.  We strive to take a personal touch with your transaction and close your deal with ease.

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