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March 2015 Archives

Homeowners associations turn to Chapter 11 bankruptcy

The economy has been rough for many people in Florida for the past several years. In particular, the housing market has been hard hit. While there has been some recovery, many people struggle on a day-to-day basis to make ends meet.

Consider Chapter 7 if you are struggling with personal debt

Life costs money. Money to live, eat, learn and thrive. Sometimes those living expenses can outweigh the incoming cash flow. This can lead to what is known as debt. Debt can absolutely bury you and weigh you down financially, emotionally and mentally. There is a possibility for relief from this heavy burden. The relief comes in the form of Chapter 7 bankruptcy.

14 Florida restaurants closing following Chapter 11 bankruptcy

The state of Florida is known as a huge tourist destination for its beautiful beaches, weather and tourist attractions. Along with that there has been a surge in the amount of restaurants and dining establishments throughout the state. This is due to the increased demand for these types of establishments. Despite this high-demand marketplace, a Spanish based restaurant chain is closing 14 restaurants in Florida.

Bankruptcy filings require open, honest dialogue

A chapter 7 filing can apply to individuals or businesses. In both situations, property and/ or possessions are liquidated to satisfy any non-exempt liens and debts. This is merely a part of what a chapter 7 filing does for an individual. At the heart of all bankruptcy filings, the general purpose of filing for bankruptcy is to relieve one's self of severe debt and to stop creditor harassment. People only think about filing for bankruptcy when their debt has gotten to such a point that something extreme needs to be done. There is nothing much more extreme than bankruptcy because of all that goes with it. For instance, a chapter 7 filing is on your credit record for 10 years. This may adversely affect future financial activities.