How can I get rid of so many debts?

Mr. No-Luck Chuck was involved in a car accident where he was found at fault. The court ordered him to pay $250,000.00, to the other party. So, his son No-Luck Chuck Jr., advised his father to list his property for sale in order to pay back the judgment.

Jr. has a cousin who is a real estate agent that informed Jr. & Sr., the condo could not be offered for more than $200,000.00. Their cousin also told them that the sale would take at least a year.

Sr had also made an agreement with the court to make monthly payments towards the judgment. Sr. is 80 years old, retired, does not work and the income he receives from his social security only covers his necessary monthly expenses. So, Jr then thought of another solution, fearing that some of his dad's social security will be taken to cover the court's ruling.

Jr. advised Sr. to stop paying his monthly credit cards bills. That way, Sr. could pay the judgment’s monthly payment. Jr also told his dad to change his phone number, to avoid creditors from bothering him until the property was sold and debts had been paid off.

Jr. has managed to get his father into further problems. Advising his father to Ignore his obligations to his creditors does not help at all. By failing to pay his creditors monthly, Sr. has now been served with more lawsuits.

What should have No-Luck Chuck done?

No-Luck Chuck should have consulted with a bankruptcy attorney.

Can my primary home be taken under a judgment?

No, under Florida Homestead law, it is not allowed.

Can my social security benefits be taken away by a judgment?

No, retirements, 401K’s and child support are some examples that are protected under bankruptcy laws.

Can I get rid of excessive debts from my credit cards?

Yes, you can minimize your debts under Chapter 7 or Chapter 13, it depends on certain circumstances.

Bankruptcy laws are designed to protect you.

People living in the United States fall into debt for a number of reasons. Recession has brought job loss to many who are still unable to find work. Also, an unexpected illness can skyrocket people's medical bills while they discover that their insurance coverage is insufficient.

Bankruptcy filing will not solve all your financial problems overnight but can make you feel so much better, and you can sleep at night without the constant stress of money problems.

Call the offices of NAVARRO Attorneys at Law today at: 1-800-692-9802, or click here to request a complimentary consultation. We have offices in Miami, Naples & Tampa,to better serve you.