Legal Question in Bankruptcy in Florida

foreclosure or bankruptcy

I am about to lose my home because

I can no longer make the payment

due to taxes and insurance being so

high. I am also considering giving

back my auto due to the 1000 a

month payment. what isthe

difference as far as credit worthiness

between filing for BK or just

forclosure? what are the long term

bebefitsof either? Is it hard to file

BK?


Asked on 11/09/07, 10:39 am

1 Answer from Attorneys
Paul Daley Daley Law

Re: foreclosure or bankruptcy

This answer is not legal advice but only a general discussion of legal principles. Only when all facts are known can advice be accurately given.

You should consider scheduling a consult with a bankruptcy attorney. If a foreclosure occurs, you could have a deficiency judgment filed against you. This would remain on your credit until paid or discharged under bankruptcy. Bankruptcy could provide an end to your problems and provide a fresh start. This is one of the principles of the bankruptcy code, to give debtors a fresh start.

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Answered on 11/10/07, 2:26 pm


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