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Tampa Bankruptcy Law Blog

Assisting people who are facing foreclosure

Every year, far too many people throughout the country lose their home to foreclosure. Sadly, this can make life incredibly difficult and at the law firm of Timothy J. Sierra, we know hard this can be. As a result, if you are worried about losing your home to foreclosure, it is crucial to do everything you can to prevent foreclosure, closely analyze your situation, determine which steps to take and act as soon as possible. In Tampa, Florida, and across the nation, people who are in this position should thoroughly review the details of their financial situation and make sure they understand all of their options.

If you are experiencing financial challenges due to unemployment, lost income, unexpected medical problems or any other hardship, you may feel incredibly stressed out and have no idea of how to tackle the problem. Fortunately, there are a variety of ways you may be able to stop foreclosure. For some people, bankruptcy is an ideal option that can help them keep their family home. However, before filing for bankruptcy it is smart to compare different strategies (such as the differences between Chapter 7 and Chapter 13) and determine which method will work out best. While the threat of foreclosure can cause some people to feel overwhelmed, once the issue is addressed they may feel like they have been given a fresh start. When it comes to preventing foreclosure, there are many considerations (such as time limits on loan modification applications) that are important to keep in mind.

Debt or Savings? Where Should We Put Our Money Toward?

When it comes to saving and paying off debt, consumers today seem to find themselves asking where they should put their money toward. Debt, or the future? The answer is possibly both, at the same time. It is important to realize that there needs to be a balance when it comes to paying off debt and saving. When finding that balance we need to look at our life situation, and where we have our financial goals set.

Florida start-up moves forward with Chapter 7

When a company is struggling with debt, they may have a number of debt relief options to explore. However, it is very important for firms that are dealing with this to closely analyze their situation and determine which strategy makes the most sense. In Tampa, Florida, and around the country, successfully addressing financial challenges can provide a fresh financial start and new outlook on life. Before filing for Chapter 7, it is important for people to ensure that they take the proper approach.

A start-up company based in Fort Lauderdale recently filed for Chapter 7 bankruptcy after accumulating $1.4 million worth of debt. However, the start-up showed promise in the years following its formation (the software company reportedly saw its revenue double each year after launching in 2011).

Tampa Bay: Highest Metro Area of Foreclosures in 2014

Foreclosure on a home is a common occurrence in the United States, and especially in the Tampa Bay area. A new report was released by the real estate tracking service CoreLogic, that the Tampa Bay area took first place for the most completed foreclosures this past year over all other U.S metro areas.

A completed foreclosure happens when a property is sold at an auction to the bank or an investor, however, it might still be weeks after that sale takes place that the residents of the home actually move out

Reaching out to people who are struggling with medical debt

There are many reasons why people throughout the United States end up struggling with unbearable medical debt. For some, an unexpected medical condition or emergency requires them to take on unmanageable debt, while others face costly medical expenses because of a health condition they have been dealing with for years or are unable to work and can no longer cover their hospital bills. Unfortunately, people find themselves in this position far too often in Tampa, Florida, and across the country. At the law firm of Timothy J. Sierra, we understand the numerous obstacles that people who are in this position typically face and extend a helping hand to those who are going through this firsthand.

Fortunately, there are a variety of solutions that can help people who are facing these challenges, such as filing for bankruptcy. For some, Chapter 7 bankruptcy is an excellent way to finally tackle their medical debt and enjoy the various benefits that come with a fresh financial start, while others choose to file for Chapter 13. However, it is imperative for anyone who is considering bankruptcy to closely evaluate every detail pertaining to their situation and determine which course of action to take. Once the most ideal debt relief strategy is identified, people who want to put their debt-related problems behind them should get started as soon as they possibly can.

Student Loans are not Easy. Don't Let Anyone tell you Otherwise.

When it comes to student loan payments, do not be taken advantage of by companies claiming they will help you get rid of your loans quickly and easily. Student loan debt is never easy. Many borrowers find themselves in more trouble when trying to work with these companies, who essentially are just taking advantage of financially vulnerable debtors.

Bouncing back from Bankruptcy? A Budget is Key

You have filed for bankruptcy and finally gotten yourself back on a financial stable, debt free life; however, you feel that you will fall back into routine of racking up huge credit card bills, medical bills, car payments, etc. Becoming financially savvy will take a while for someone who is just beginning to manage their debt, and one way to help stay out of debt is to budget!

Taking a look at foreclosure prevention

Far too many families are struggling to pay their mortgages throughout the United States. From unemployment to unforeseen financial challenges, there are many reasons why people find themselves in this position. When a family is facing the threat of foreclosure in Tampa or any other Florida city, they may experience considerable stress and have no idea of what to do next. Unfortunately, this uncertainty can make the situation even more difficult to deal with and it is very important for anyone who is experiencing this firsthand to explore their options and address the problem right away.

The Federal Deposit Insurance Corporation published some alarming foreclosure statistics on their website. For example, according to a 2005 poll of over 2,000 U.S. homeowners, more than 60 percent who were delinquent on their mortgage payments were unaware of certain services offered by mortgage lenders. Furthermore, most of those who were polled wished they had a better understanding of the terms of their mortgages.

Helping those who are struggling with credit card debt

From unemployment to costly medical expenses and unforeseen challenges in life, there are many reasons why people take on debt that they cannot repay. Unfortunately, far too many people in Tampa and throughout Florida are experiencing these difficulties firsthand and have no idea of what should be done next. At the law firm of Timothy J. Sierra, we understand the numerous obstacles that come with burdensome credit card debt and work hard to help ensure that our clients address their debt properly.

Those who are struggling with credit card debt may have a number of options. For some, filing for bankruptcy is an excellent strategy while others may take another route to address their financial challenges. Regardless of which debt relief method works out best, it is very important for people who are having problems with paying off their credit cards to take a close look at each and every available option and tackle the debt as soon as possible. After all, eliminating credit card debt can become even more challenging over time so it is imperative for people who are going through this firsthand to take action as soon as they can.

Ways to afford Student Loan Payments

Student loans may not be worrying students at the moment while they are still getting their degree in college and not required to make payments; however, 6 months after they graduate college payments are due. Letters are sent to borrowers from loan companies telling them how much they owe.

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Timothy J. Sierra, Attorney at Law
118 South Rome Avenue
Tampa, FL 33606

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6314 U.S. Highway 301 South
Riverview, FL 33578
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305 North Parsons Avenue
Brandon, FL 33510
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Toll Free: 877-492-7449
Phone: 813-463-2256
Fax: 813-258-4746