Legal Question in Bankruptcy in Florida
Currently we are undergoing a foreclosure and the association is suing for past due maintenance. Eventuallly we will declare ourselves bankrupt. At this time we are very short of funds. Can we do it after the foreclosure and if we do what are the repurcussions?
1 Answer from Attorneys
Your financial situation as described is not unusual in this economy. Based on the information provided, you may file for bankruptcy (assume chap 7) after or during the foreclosure action. If you are delaying filing because of shortage of funds, you may benefit by discussing legal options with an attorney experienced in bankruptcy. Including the foreclosure in the bankruptcy has certain advantages, depending on your overall debts, personal property, claimed exemptions, intentions regarding your homestead, and other aspects.
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