Legal Question in Bankruptcy in Florida

File for Bankrupty before purchase of home or pay debt?

I'm near to closing on a property, everything is approved for closing next week, but my past debt is haunting me, should I pay it all at closing or just file for bancrupty and pay an attorney?


Asked on 6/17/05, 12:22 pm

2 Answers from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: File for Bankrupty before purchase of home or pay debt?

Without knowing more, I cannot provide you with non-divine guidance. For starters you should spend some of the money on a consultation with competent counsel. If you wish call me for an appointment. 305-940-8080

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Answered on 6/17/05, 12:47 pm
Tonia Troutwine, Esquire - Troutwine Law Group. LLC

Re: File for Bankrupty before purchase of home or pay debt?

It would more than likely depend on the amount of the debt. If you are able to settle your debts and pay them off and still continue to pay your regular bills then paying your debt off may be a better option. Some credit counselors are able to negotiate debts down alot. Bankruptcy may have long term negative credit implications but may protect you if you are unable to pay off your outstanding debts, additionally the bankruptcy laws have recently changed and these changes may or may no apply to you, it is important you seek guidance immediately if you are considering this as an alternative.

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Answered on 6/19/05, 12:46 am


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