5 Signs That Filing for Bankruptcy Could Give you the Fresh Start You Need

Many people experience going into debt in their lifetimes. Whether it’s medical debt, student loan debt, or credit card debt, we all go through it. Sometimes our debt is temporary, or we pay it off, but other times it continues to grow. Seeing that number get larger is overwhelming and stressful. Sometimes, it feels like no matter how much we pay off, it’s never enough. If you feel like this never-ending cycle of debt and making payments is taking over your life, it might be time to consider other ways of finding debt relief. One way you can do that is through bankruptcy and an attorney who knows bankruptcy law in Delray Beach. You don’t need to make a decision right away, but knowing the following five signs can help you decide what to do.


You Spent All of Your Savings

When the going gets tough, we sometimes have to resort to other ways of getting by. And if you recently lost your job or had other life-altering events occur, you might have had to dip into your savings. Whether this savings was for your children’s college education or retirement, it happens from time to time. But usually, there’s a limit of how much we need, and we can bounce back. However, if you find yourself spending all of your savings and depleting your money, then it could be a sign that bankruptcy could benefit you.


You’re Behind on Bills

Missing the occasional bill payment isn’t the end of the world. Chances are that the company or landlord you pay will understand you made a mistake or are going through a rough patch. But when it becomes a habit, you might begin to make some people angry. These people might also stop giving you second chances. The first thing you want to do is evaluate why you are behind on bills. Is it overspending or a general lack of income or money? If you don’t have any money or enough money, it may be time to consider other options. We recommend getting in front of the trouble before doing what some do, turning to loans to pay for bills.


You Avoid Phone Calls or Your Mail

The more debt you have, the more mail and phone calls you will accumulate. The debt collectors and creditors are going to want their money. And these people are aggressive, not stopping at anything to get it, whether that means calling you multiple times a day or sending you mail every week. If you have found yourself avoiding opening the mail or answering your phone, it could be a sign that you know you’re in trouble. However, dealing with debt head-on is the best way to go. Whether that’s filing for bankruptcy or seeking a bankruptcy attorney with expertise in bankruptcy law in Delray Beach, it’s better to stop the debt from mounting further.


Your Credit Cards Are Maxed Out

If your credit cards are maxed out, it may be time to think about bankruptcy and speaking to an attorney that works in bankruptcy law in Delray Beach. Sometimes bankruptcy is the answer to our debt problems. While this doesn’t mean pressing reset to get back into debt, it does mean getting a fresh start. Maxed-out credit cards not only ruin your credit but can cost you tons of money in interest fees. This situation is even more so the case if you have maxed out multiple credit cards.


You’re Always Stressed Out About Money

Everyone gets stressed out about money from time to time. Whether it’s because we have an expense to pay or went a little over our monthly budget, it happens. But money struggles are usually temporary and serve as a learning lesson. However, being stressed about money 24/7 is problematic. Money problems should not seem to haunt you or make everyday life hard for you. If this is your case, filing for bankruptcy may be a good option for you. Consider speaking with a bankruptcy lawyer soon if this sounds like something you are dealing with.


We Can Help!

Do any of these signs point to you and your situation? If so, you may be able to benefit from bankruptcy and an attorney with expertise in bankruptcy law in Delray Beach. To learn more about bankruptcy, click here (https://www.mufsonlaw.com/Bankruptcy/)  we have all the information you need on our website. Or, you can call our team today at (561) 272-1003. We look forward to helping you!

Here Are 3 Steps to Take Before Filing for Bankruptcy

Once you decide to file for bankruptcy, you may be wondering what the next steps are. The topic of bankruptcy has quickly become one that is highly stigmatized and deemed taboo in society. And unfortunately, these labels make it difficult to get the real and vital information on it. 


The best thing you can do is contact a bankruptcy lawyer for bankruptcy help in Delray Beach. A lawyer can instruct you on what to do and confirm that filing for bankruptcy is a good move in your situation. It never hurts to have an expert’s opinion, especially when it comes to a big decision like filing for bankruptcy. Here at Mufson Law, our team is here to help with all things related to bankruptcy. Whether you need more information or want us to evaluate your case, we have you covered.


Step 1: Evaluate Your Debt

Whether you are 100% confident in filing for bankruptcy or not, you should first evaluate your debt. Debt comes in many forms, student loan debt, medical debt, credit card debt, and the list goes on. We recommend printing all of this information out or having it saved in a secure location. You want to be able to access it all in one spot. Next, double-check what you owe and gameplan. If it seems that you can budget and pay some of it off, maybe bankruptcy is avoidable. Or, on the other hand, if the debt is impossible to pay off, you know that filing for bankruptcy is the next move. You are also going to want all this information in one place if you do file bankruptcy. Your attorney is going to need to see these numbers to get you bankruptcy help in Delray Beach.


Step 2: Contact a Bankruptcy Lawyer

Now that all of the numbers are in an easy to access place, you can move on to step 2. During this step, you are going to want to reach out to a bankruptcy lawyer. Our team at Mufson Law can hop on a call with you for a free case evaluation. While on this call, we can discuss your unique situation and talk about the numbers. The more information you can tell us, the better legal advice we can give. If our team finds that bankruptcy can help you and is the best move for you, we can move forward with helping you file. Filing for bankruptcy is quite the process and has many phases to it. No one can do the whole thing alone, and it’s best not to. You want to do it right and avoid cutting any corners. Remember, filing for bankruptcy is for you to get out of debt and secure a stable financial future. If we’re going to do it, we need to do it the right way for your situation.


Step 3: Choose Between Chapter 7 and Chapter 13

Now that you are filing for bankruptcy, you need to choose between Chapter 7 and Chapter 13. These two ways of filing are similar but have critical differences. The main difference you want to pay attention to is the asset part of each. In Chapter 7, you are eliminating debt, such as medical debt, credit card debt, and unsecured debt, as an individual or small business owner. You get to keep your necessary assets, such as your home, car, and home necessities such as appliances. However, you may not be able to hold onto everything. In Chapter 13, most things are the same as far as who is filing and what kind of debt they want to eliminate. The main difference is that you will pay some of the debt back. You will have monthly payments based on your income and expenses. This payment plan will likely last between 3 and 5 years. There are more nitty-gritty details to consider, but your bankruptcy lawyer will help with that.


We Can Help! Contact Us Today!

For a free consultation and bankruptcy help in Delray Beach, reach out to Mufson Law. When you hop on a phone call with our team, we can help point you in the right direction. Whether you end up filing for bankruptcy or not, our team can give you our expert opinion on your unique case. Reach out to us at (561) 272-1003 for your free consultation.

Why File For Bankruptcy?

Many actors, singers, journalists, and working professionals have filed for bankruptcy at some point in their lives. If bankruptcy is a way celebrities and other professionals handle their overwhelming debts, you may find yourself wondering if declaring bankruptcy in Delray Beach can work for you too. At The Law Offices of John E. Mufson, we know that bankruptcy isn’t just for celebrities. Everyday normal folks all throughout West Palm Beach can benefit from bankruptcy, finding their path to renewed financial freedom. If your debts have become more than you can handle, then it’s time to consider seeking help from one of the most dedicated bankruptcy law firms in Delray Beach, The Law Offices of John E. Mufson. Bankruptcy may be your lifeline out from the sea of debt you’re currently drowning in, and our expert team of attorneys can help you swim your way out!

Is Bankruptcy the right solution for me?

Bankruptcy is a viable solution for many people who have become overwhelmed with debt, but it’s important to determine whether or not it’s your best option. The lawyers at The Law Offices of John E. Mufson take a personalized approach to bankruptcy assistance. To start, we’ll help you assess your current financial situation. For some people, bankruptcy is a great fit, but for others, it is not their best financial option. Our expert legal team can help you understand which financial solutions are the best fit for your challenges and the benefits bankruptcy may or may not bring you. 

How do I get started?

When you consider filing for bankruptcy, the first thing to consider is how it can benefit you. There are many benefits to declaring bankruptcy. Depending on the type of bankruptcy you seek, your unsecured debts can be greatly reduced or entirely eliminated. For example, Chapter 7 bankruptcy can liquidate debts such as credit card bills. Chapter 13 bankruptcy can refinance existing debts into affordable payment schedules that often include lower balances than what you initially owed. Our bankruptcy law firm in Delray Beach is prepared to help you understand what filing for bankruptcy means and to determine your best options. Let the expert bankruptcy lawyers at The Law Offices of John E. Mufson guide you towards the financial future you deserve. To learn more about how we can help with your individual situation, please call for a free consultation with one of our skilled bankruptcy attorneys in Delray Beach at (561) 272-1003.  

Five Major Mistakes to Avoid When Filing Bankruptcy

Making the decision to file for bankruptcy is scary. For the average person, bankruptcy law in Delray Beach is complicated and confusing. It’s hard to know what to expect on the other end, let alone plan for how you will rebuild your credit and finances in a healthy way. Many people equate bankruptcy filing with losing everything, but that’s rarely the case. In fact, this process is specifically designed to help you salvage what you can while consolidating and eliminating debt.  

If you are in the process of filing bankruptcy, avoid these five detrimental mistakes. 

Lying About or Hiding Assets 

Qualifying for Chapter 7 bankruptcy includes a “means test” which assesses your ability to pay off creditors. During this process, you must disclose all income and assets. Failing to do so could result in your case being dismissed and a legal ban against future attempts to file Chapter 7 bankruptcy. Lying about these factors in your bankruptcy filings doesn’t matter, anyway. Once a trustee accesses your financial information, the likelihood these assets will remain hidden is slim. Likewise, attempting to hide or lie about additional creditors is also moot, as credit companies can gather information about your bankruptcy case. 

Giving Away Assets to Family or Friends 

A common mistake when it comes to bankruptcy law in Delray Beach is the transference of property of assets to a loved one before or during the process in an effort to protect or secure it. Often this is done under the guise of a “gift” or sales transaction with the intent to reverse it afterward. Not only is this illegal, it’s not a recipe for disaster. Regaining ownership after the fact may be messy and cause strained relationships between you and friends and family. You may think you are protecting yourself against repossession, but there’s an easier way with Mufson Law. 

Tapping into Retirement Money 

The money in your 401K or other retirement savings accounts has a designated purpose. Dipping into these funds is not only ill-advised, it’s pointless. These accounts are protected during bankruptcy proceedings, so they won’t be affected unless you choose to withdraw money to pay toward debts. Choosing to do so is not allowed, as it shows favoritism toward certain creditors over others who remain unpaid. Don’t fret, your bankruptcy attorney at Mufson Law can help you determine your best course of action. 

Maxing Out Credit Cards 

Trying to use what credit you have available before filing bankruptcy can complicate your case. If your creditor believes you have done so intentionally, they can challenge the courts’ attempt to eliminate this debt. They may accuse you of fraudulent borrowing, which can affect your financial future. If found guilty, you may be held responsible for paying some or all remaining debts. In general, credit transactions made within 90 days of filing are not considered during the proceedings and will continue to be your responsibility. To be safe, once you file for bankruptcy, do not use your credit cards. 

Not Consulting an Attorney 

Bankruptcy law in Delray Beach is intimidating and difficult to navigate on your own. Failing to consult a lawyer when filing your case can make the process drawn out or lead to rejection. At Mufson Law, we focus on debt solutions, including bankruptcy. Our team of knowledgeable and experienced legal professionals is prepared to help you find the best solution for you, up to and including bankruptcy options. 

If you’re ready for a debt-free future, contact us now. 

Do Millennials Need More Debt Relief Than Previous Generations?

The average person in Florida might be hard-pressed to find a news article that shines a positive light on the millennial generation. Frequently criticized for supposedly taking down the napkin and chain restaurant industries, articles often shine a light on the difficult financial situation that many millennials find themselves in. While it might be true that some of the young adults in this generation are in need of debt relief, many are doing just fine.

Millennials range in age from late 20s to their 30s; and their spending habits reflect their age. That is not necessarily a bad thing, though. According to an expert in personal finance with NerdWallet, millennials are on track to be in the same financial position as baby boomers in a few decades. This seems to contradict what many people love to believe about millennials, which is that they are irresponsible with their finances.

What may come as even more of a surprise is that millennials’ financial priorities are largely the same as those of their baby boomer parents. In a survey that asked adults what they would do with an extra $1,000, the majority of both generations prioritized saving and investing. One surprise was the baby boomer attitude toward traveling. In this survey, 7% said they would spend the money to travel while only 3% of millennials would use the money for that purpose.

While it is good news that adults of all generations have their financial priorities in order, having good spending habits does not necessarily prevent anyone from going into debt. Additionally, millennials are not shielded from needing debt relief just by virtue of being young. Rather than spending years trying to climb out of impossibly steep debts, some young adults in Florida might find a better outcome from pursuing personal bankruptcy.

With student loans becoming an increasingly hot button topic as a pressing financial concern and burden for the financial livelihood of millennials, more people are seeking ways to find a debt solution in Delray Beach.

It is important that if you are a young person—or of any age—seeking debt plan or debt program in Delray Beach, that you contact a professional. The Law Office of John E. Mufson has been helping people in South Florida get debt relief for more than 25 years. Call us today at (561) 272-1003 for a free consultation.

What Debt Does Bankruptcy Not Discharge?

When filing for bankruptcy, one of the most common things people look forward to having is the majority of their unmanageable debt dismissed or discharged. Sadly, this isn’t a reality for every person who experiences bankruptcy.

Not at all debt is qualified for discharge during bankruptcy. Regardless of which chapter of bankruptcy you file for, there are some types of debt which will not be cleared or covered by the acquittal of your case. Knowing these in advance can help prepare you for the best possible outcome during the bankruptcy process—and prevent unpleasant surprises later!

What Debt Does Bankruptcy Not Cover?

Some debts cannot ever be discharged during bankruptcy, regardless of any other circumstances. These are consistent from state to state and include legal obligations such as child support and alimony. Other types of debts that can never be dismissed by a bankruptcy discharge include restitution owed for legal infractions (penalties owed for breaking the law), wrongful death penalty costs, and certain types of tax debt.

If you owe condo, coop, or HOA fees—or have retirement-related debt—you will continue to be responsible for these payments during and after a bankruptcy. Likewise, if you refuse to list or ‘schedule’ a debt as part of your bankruptcy filing, there is no way that it can be dismissed as part of a bankruptcy discharge unless that creditor had prior and specific knowledge of your bankruptcy filing and is willing to release your debt as part of it.

Other types of debts are simply difficult to discharge. Student loan debt is famous for being difficult to discharge. Proving long-term and ongoing financial hardship that will make repaying this debt impossible or improbable is typically the only way to get this type of debt released—and this is a difficult task, even for an experienced legal professional. More lenient policies are making it easier to get student debt discharged than it has been in the past, but it remains a tricky proposition in regard to bankruptcy.

In some cases, creditors can even appeal the automatic stay process that keeps them from pursuing compensation of debts owed during your bankruptcy. This means that the protection that bankruptcy would typically afford you would be compromised at the order of the court, and these creditors would be allowed to pursue repayment of your debt regardless of your active bankruptcy case. This can leave you and your creditor stuck in a seemingly endless loop of appealing to the courts to explain why you deserve relief from the other’s actions. This makes determining what debt does bankruptcy not cover nearly impossible—and the process of bankruptcy itself far more stressful than it needs to be!

Debts Worth Arguing Over

Some debts are discharged unless the creditor successfully argues that they should not be. Being informed of these can help prepare you for the chance that your creditors will pursue payment of these debts. These debts may include:

  • Debts belonging to creditors not listed on your bankruptcy paperwork
  • Fraud-related debts
  • Debts related to willful or malicious acts
  • Debt incurred from larceny, embezzlement, breach of fiduciary duty, etc.
  • These guidelines also apply to debts incurred from the purchase of luxury items or services, with specific regulations. For purchases of more than $725, they must have been made within 90 days of filing. Cash advances of over $1000 taken out within 70 days of filing also fall under these guidelines.

No Absolute Right to Discharge

What debt does bankruptcy not cover? If you don’t follow the rules, the answer could be all of it. After all, there is no absolute right to discharge of a bankruptcy. Too many people enter the bankruptcy process believing that they can behave any way they see fit and receive a discharge and walk out of court with all of their debts left behind.

Failing to follow the rules of your state and the national bankruptcy law can result in an objection on the part of the bankruptcy trustee to discharge your debt. How can you stay within the lines and play by the rules? It helps to know them.

Here’s what to do if you’re hoping for an uncomplicated discharge:

  • Provide all request documentation, including tax documents in a timely manner
  • Do not hide, transfer, or destroy assets, records, books, documents, or otherwise try to commit fraud or hinder any investigation into your finances related to your bankruptcy case
  • Ensure that all of your assets can be accounted for
  • Show up for all requested or required court appearances and be honest and forthcoming with those you speak with regarding your bankruptcy
  • Complete a financial management course during your bankruptcy to ensure mastery of financial concepts and a better outlook for your financial future
  • Be sure that you don’t file for bankruptcy too soon after previously doing so, as this may cause your case to be rejected for discharge automatically.
  • In some cases, you can follow all the rules to the letter and still find out that there are perfectly legal reasons why your creditors are capable of standing in the way of your discharge. When this happens it can be devastating. However, with the right counsel and some research on your side, you can expect to move through a bankruptcy with relatively little stress.

It is important to always discuss the details of your case with a local legal professional who specializes in bankruptcy and related issues. Bankruptcy law firms in Delray Beach can be upfront with you about your options for debt relief. If filing for bankruptcy is the plan best for you, our legal team at The Law Office of John E. Mufson will take the time to fully explain your options so that you’re truly confident in the decisions you’re making. Call us today at (561) 272-1003 for a free consultation.

How Can I Get Out of Debt Without Losing Everything I Own?

If you’re thinking about filing for bankruptcy, it’s nothing to be ashamed about. In fact, the average American has about $38,000 on average in personal debt excluding home mortgages. The truth is that it happens to people from all walks of life. Sometimes bills pile up and it just becomes impossible to make ends meet. At The Law Office of John E. Mufson, we know how tough it can be to manage your bills, credit card debt, student loans, medical expenses and just the daily cost of living in our materialistic society. If you owe far more than you make, if you’re fed up with calls from creditors or if you’re constantly worrying about your medical bills and inability to pay back your student loans, don’t despair, help is available. Call on a professional bankruptcy law firm in Delray Beach like The Law Office of John E. Mufson. We have a great success record and we’re considered one of the best bankruptcy law firms in Delray Beach.

How does bankruptcy work exactly?

Filing the paperwork for bankruptcy can be tedious and complicated, which is why it’s vital to engage the legal guidance and support of an experienced bankruptcy law firm in Delray Beach. The skilled bankruptcy attorneys at the Law Office of John E. Mufson can discuss all of your options when it comes to filing for bankruptcy and the best options to choose from.  

What are my bankruptcy options?

There are a few different types of bankruptcies and one may be a better choice for individuals and another may be a better choice for business owners. These are considered the most sensible bankruptcy options: 

Chapter 7 is a type of bankruptcy that an individual can file. If you owe far more than you can pay back, then you may be a candidate for Chapter 7 bankruptcy. Here, assets are exchanged for exemption of debts. Essentially your credit card debts, medical bills, and other debts are wiped completely clean. You are not required to set up a payment plan, but instead, you exchange nonexempt assets for debt liquidation.  

Chapter 13 is the best choice for many individuals. If you have the financial ability to pay off some of your debts but not all of your balances, then Chapter 13 may be the right fit for you. This form of bankruptcy involves a debt restructuring plan. Your income, debt, and expenses are analyzed, then your debts are restructured into payment amounts and cycles that match your financial capabilities. This means that with the help of Chapter 13 bankruptcy, you pay back only a small portion of your debt, a portion that won’t cost more than you can handle. The leftover balances after the Chapter 13 payment period can simply be wiped clean in many cases. 

Our bankruptcy law firm in Delray Beach is prepared to help you understand what filing for bankruptcy means and to determine your best options. Let the expert bankruptcy lawyers at The Law Office of John E. Mufson help you get rid of your debt and guide you towards the financial future you deserve. To learn more about how we can help with your individual situation, please call for a free consultation with one of our skilled bankruptcy attorneys in Delray Beach at (561) 272-1003.    

Has Overwhelming Debt Sent You into Hiding?

If your debt has been piling up and you feel like you are drowning in it year after year with nowhere to turn for help, it may be time to contact a trusted Chapter 13 bankruptcy lawyer in Delray Beach. It’s easy to be fooled by the ads on TV that promise to easily eliminate and consolidate your debt into lower payments that you can handle. The truth is that many of these companies charge high fees for their services and the last thing you need when you’re trying to get out of debt is to pile on yet another debt. When credit card debt and the stress of worrying about it is overtaking your life and even the minimum payments are hard for you to handle, it may be wise to consider filing for Chapter 13 bankruptcy. To accomplish this, you are going to need a legal professional that understands how to best approach debt consolidation. If you’re looking to negotiate credit consolidation in Delray Beach through Chapter 13 bankruptcy, the team at The Law Offices of John E. Mufson is here to help. Our attorneys can handle your case and explore every avenue to ensure the success of your Chapter 13 bankruptcy. We understand the best and most effective approach to successful debt restructuring. Through Chapter 13 bankruptcy, many of your debts can be reduced and even eliminated. All-in-all it’s a positive scenario—you may pay back much less than you owe, or in the best-case scenario, pay back nothing at all.   

How Can our Experienced Law Team Help You? 

At the Law Offices of John E. Mufson, we work with Chapter 13 and Chapter 7 bankruptcies. Through our Chapter 13 bankruptcy attorney in Delray Beach, your debts are restructured into payment plans that are tailored to how much you can pay back comfortably. How it works is that our attorneys contact your creditors, and we negotiate with them to get you the best debt repayment plan possible.  In addition to chapter 13 bankruptcy filing, our bankruptcy lawyers handle Chapter 7 bankruptcy in Delray Beach, helping those facing major credit card, mortgage and even student loan harassment. Automatic stays during both Chapter 13 and Chapter 7 bankruptcy negotiation can help put an end to creditor harassment as you work towards debt and credit card relief.  

There is No Reason to Hide with Our Law Team on Your Side 

When your creditors come knocking at your door, there is no reason to hide. The professional chapter 13 bankruptcy lawyer in Delray Beach at The Law Office of John E. Mufson, understand how to best approach your case to ensure the best personal outcome for you. Under our direction, you will successfully alleviate the weight of your personal debt. Our experienced team at The Law Offices of John E. Mufson is here to help bring about the best solutions to your debts through either Chapter 13 or Chapter 7 bankruptcy. If you fall victim to the vicious credit card cycle, learn more about how to get out from under your debts once and for all. Whether it be credit card debt, loans, hospital bills or auto repossession, our team of Chapter 13 bankruptcy lawyers in Delray Beach are here to offer you the help and support you need. Call us today at (561) 272-1003 for a free, no-obligation consultation.   

How to Know When it’s Time to File for Bankruptcy

Piling up debt seems like the norm our society today, and so it makes sense that more and more people will see filing for bankruptcy as the only alternative to getting out of debt in the coming years. While it isn’t something we want to happen anytime soon, there are some that see bankruptcy as their only option to escape debt. Your outstanding debts over the years may include credit cards, mortgage, car loan, hospital bills, doctor and dentist bills, car loans, student loans or personal loans. If these debts have become more than you can handle, filing for bankruptcy may be a viable financial option. If this sound like you, then don’t despair because there is help for you out there. If you’re considering filing for bankruptcy, it’s important to find an experienced bankruptcy lawyer in Delray Beach to work with because you want to make sure you file all of the papers properly or risk being turned down by a bankruptcy court. At the Law Office of John E. Mufson, our expert legal team is here to help you navigate through the bankruptcy process from start to finish. It can be overwhelming, but rest assured, we specialize in helping our clients find a wide range of solutions to paying back debt.  

Common Mistakes to Avoid if You’re Thinking of Filing for Bankruptcy 

Filing for bankruptcy isn’t an easy process and it requires more than just filing paperwork. You might not know that should not do this before filing for bankruptcy:  

  • Don’t incur any more debt. We know that sounds like a no brainer but you’d be surprised at how many people still continue to use their credit cards after they file the bankruptcy paperwork. You risk not being approved because the bankruptcy court may think that you aren’t serious and have no intention of paying your debts back. This would actually be considered fraud. 
  • Don’t lie about your assets or provide inaccurate information. This is the time to let it “all hang out,” so to speak. If you lie about any of your assets you could be subject to penalties that could equal thousands of dollars. This would include not so obvious things like assets in safe deposit boxes or storage units. Worse yet, lying about assets may cause a bankruptcy court to dismiss your case altogether.  
  • Don’t file for bankruptcy if you think you might come into some money (like a gift or an inheritance) within the first year of filing. It’s most likely that your bankruptcy case will be dismissed because you can use this money to clear up your debt on your own. 
  • Don’t wait too long to file for bankruptcy. It’s always best to file as quickly as possible so that you don’t incur any more debt and especially if a creditor has a lawsuit against you. A bankruptcy attorney in Delray Beach like The Law Office of John E. Mufson can help you make sense of it all and can advise on the ins and outs of bankruptcy law. 

If you’re thinking about filing for bankruptcy, it could not have been an easy decision for you. But when you work with our experienced legal team at the Law Offices of John E. Mufson in Delray Beach, you’ll get honest answers and the highest quality customized client care that you deserve. If you’re considering bankruptcy but our team determines that it’s not aligned with your financial needs and goals, we’ll be upfront and let you know. While you may be shocked to realize that bankruptcy isn’t in your best interests, you’ll also be glad that a bankruptcy lawyer in Delray Beach was upfront with you about your options for debt relief. If filing for bankruptcy is the plan best for you, our legal team will take the time to fully explain your options so that you’re truly confident in the decisions you’re making. Call us today at (561) 272-1003 for a free consultation. We are available to our clients both nights and weekends. 

Fighting Foreclosure: Five Things You Need to Know

Owning a home is a goal we all have, so to achieve homeownership is a big milestone. As a financial commitment, home ownership can be challenging, especially as your financial situation changes. Illness, job termination or layoffs, unexpected bills, and other financial strains can make it difficult to keep up with mortgage payments. If you find yourself struggling to stay afloat, threats for foreclosure can feel like the end of everything you’ve worked hard for. Don’t give up—you still have options. If you’ve been notified of foreclosure proceedings against you or you’re struggling to stay ahead of that looming threat, here’s five things you need to know. 

Review Mortgage Documents 

Before you panic, carefully review your mortgage documents. Look for clauses specifying the procedures your lender must follow to execute foreclosure. If they have not followed the proper guidelines, it does not invalidate their claim, but this can buy you time to build your foreclosure defense.  

Beyond just reviewing your mortgage documents yourself, you should also have a foreclosure defense attorney in Delray Beach review it as well. Their knowledge of foreclosure law can be useful in determining your next steps and helping you take advantage of any loopholes that may exist. 

Review the Legality of the Foreclosure 

As previously mentioned, a foreclosure defense attorney can use their legal knowledge to your advantage. Mortgage lenders must follow certain procedures which may include providing proper notice of default and opportunities for debt settlement. If it is determined that your home mortgage provider did not follow these laws, it can help to reverse their attempts to foreclose on your home. Again, this does not eliminate your troubles, but it will provide a bit more time to find a solution.  

Contact Your Lender 

Most mortgage companies don’t actually want to waste the time and resources on going through the courts to foreclose on a home. It is more cost effective for them to keep a current resident in place than to try to find a new home buyer. Even if you have defaulted on your loan, if you contact your lender you may be able to come to an agreement in regards to settling your debt and keeping your home. A foreclosure defense attorney in Delray Beach may also come in handy here as well. Lawyer involvement forces your mortgage lender to play fair and work with you in order to avoid heading to courts. 

Examine Finances 

It is also in your best interest to try and settle monetary disputes with your lender outside of the courtroom. Going to court only accrues further debts as you will be responsible for costs and fees. Before you get to that point, try to examine your finances and determine what you can do to get back into the green. Look for areas where you can potentially lower or eliminate your bills so allow for more breathing room.  

As you examine your finances, you may also want to consider if bankruptcy is the best option for you. Filing bankruptcy can put a hold on foreclosure proceedings and stop debt harassment in Delray Beach. Depending on your specific situation, you may file either Chapter 7 or Chapter 13 bankruptcy in order to reconstruct your financial situation. Be forewarned, though: bankruptcy filings will remain on your credit history for 10 years and may require you to completely rebuild your credit. It may also require you to liquidate your assets and ultimately your lenders and creditors can dispute your filing. 

Court Appeal 

If you have exhausted all of your options, going to court to appeal a foreclosure may be your final option. If it is, having an experienced foreclosure defense attorney in Delray Beach working on your behalf can help you save your home. With the law office of John E. Mufson, you can take advantage of over two decades of foreclosure and bankruptcy law experience. We help you to understand all your options so you can make an educated decision for your future. We are dedicated to getting you the best possible outcome no matter what direction you choose to take. 

Contact us today to begin exploring your foreclosure defense options.