This is the time of year many ask themselves how am I going to move forward financially?  Save money? Buy a house? Fix my credit? Take a vacation?

The reality is that to achieve any goal you have to have a plan.  I know the situation here in Miami is tough.  Rents are sky high and saving is a challenge.  But the math is always the same.  Two plus Two is Four.  If you spend Three, then you are saving.   If you spend Five, you are in debt.  Having too much credit card debt is being financially broke or living paycheck to paycheck.  To be prosperous, having good credit is a must.  It helps you pay less when you finance something like a car.

If you are currently in debt and see no way out, sometimes the solution is filing a bankruptcy.  It is one of our civil rights.  In my opinion, it is always the last choice, but we should still see it as a choice.  To keep it simple, bankruptcy is filing a petition in federal court in which you present your financial information.  You are asking the court to forgive all your debts and grant you a new beginning.  

Many of us don’t want to hear this option as it has a severe negative implication.  It has a negative stigmata.  Clients have told me that they thought if they filed for bankruptcy they would lose their house or car.  They thought they would never have credit again.  None of this is true.  In my opinion, these credit card companies never lose money.  Many of those same credit card companies offer credit immediately after the bankruptcy proceeding is closed.  Why?  This is a country full of opportunities.   The credit cards they offer have a very high interest rate.

I often share that the reason I practice this type of law is because I had financial problems.  I lost my house, two cars, and my credit.  I was not able to file a bankruptcy petition because I owned other real estate.  If I could have filed a bankruptcy, I would have done so.  It would have saved a lot of time and money.

In 2017, I ask that you make a plan to recover your credit.  To get out of debt.  To buy a house.  A plan to travel and enjoy life.

If you feel you need a consultation, please feel free to contact our office.  My office is located in Miami, but I consult all of Florida.  My consultation is free of charge.