Archive for: ‘May 2011’

Kingcade & Garcia, P.A. Helps Small Businesses take the right action when filing for Bankruptcy

May 26, 2011 Posted by kingcade

Many business owners assume that when financial challenges strike their business the only option is to file under business bankruptcy protections such as Chapter 11 – a process that can be highly complex and exceedingly costly. In reality, small businesses have a range of options, including filing under Chapter 7, which can provide a broader range of benefits and protections for individuals.

Chapter 7 can be a powerful tool for business owners who wish to:

• Put an immediate end to creditor harassment
• Eliminate credit card debts
• Stop creditor judgment proceedings
• Stop wage garnishment and repossession

Whether you run a retail business, restaurant or a web-based business from your home, in many cases you can handle your issues through traditional consumer bankruptcy protections. Many of our clients are professionals who provide services, such as accountants, architects, lawyers, real estate brokers, electricians and plumbers. With no hard assets, it can be difficult to keep a business running as lines of credit, loans and other forms of debt begin to accumulate. Our goal is get you back to selling services and not paying overhead costs. While you may be hesitant to file bankruptcy with an SBA loan, don’t be.

Before you are up-sold into an expensive and time-consuming Chapter 11 bankruptcy, make sure that there isn’t an easier and smarter way to resolve your problems. If you are a small business owner, there may be a real opportunity to pursue your debt relief through the Chapter 7 process.

Contact Kingcade & Garcia, P.A. at 305-285-9100 to arrange a free consultation if you have any questions on this topic or are in need of filing a Chapter 7 bankruptcy for your business. It is extremely important that you hire an attorney who is experienced in the field of bankruptcy and focuses exclusively on representing the interests of individuals and their businesses in bankruptcy matters. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Is converting your Chapter 13 Bankruptcy to a Chapter 7 the right option for you?

May 26, 2011 Posted by kingcade

There are two main forms of bankruptcy. In a Chapter 7, all or most of your consumer debt is eliminated, but some of your assets could be repossessed, including your car. In Chapter 13 bankruptcy, you set up a three- to five-year repayment plan that is based on your income and ability to pay.

Are you struggling to keep up with your Chapter 13 payments? If you have recently lost your job or become ill, Chapter 13 Bankruptcy may no longer be the right option for you. You have the right to convert a Chapter 13 bankruptcy to a Chapter 7 bankruptcy at any time if you become eligible. Many of our clients are surprised to discover they never have to go to court or see a judge in order to convert their Chapter 13 filings to Chapter 7.

Contact Kingcade & Garcia, P.A. at 305-285-9100 to arrange a free consultation if you have any questions on this topic or are in need of converting your Chapter 13 bankruptcy to a Chapter 7. It is extremely important that you hire an attorney who is experienced in the field of bankruptcy and focuses exclusively on representing the interests of individuals and families in bankruptcy matters. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

How Filing Bankruptcy Can Help you Avoid Foreclosure

May 14, 2011 Posted by kingcade

If you are facing foreclosure, bankruptcy can be a powerful alternative to saving your home. Filing Chapter 7 or a Chapter 13 bankruptcy automatically places a stay on foreclosure of your property; provided that you include the house as part of your bankruptcy and that your home is your personal residence. Upon filing a Chapter 7 or Chapter 13, the bankruptcy court automatically sends all of your creditors an order directing them to cease collection activity on your property. The “Order for Relief” legally postpones the foreclosure while the bankruptcy is pending, which can last approximately three to four months.

However, it’s important to remember that timing is everything. If you allow your foreclosure proceedings to continue beyond the point of no return and the foreclosure notice is already filed with the courts, the automatic stay means nothing and foreclosure will continue. You have to make sure that you file the bankruptcy before the foreclosure is filed and your auction date set. This is best accomplished by filing the bankruptcy after your first missed mortgage payment.

While the bankruptcy is pending, and the weight of paying other creditors is lifted, this is your opportunity to take your resources that do not go directly to immediate living expenses (i.e. – food, utilities, gas and transportation) and channel that money directly into a lump sum payment to satisfy the mortgage company. If you head into bankruptcy court with the resources to reinstate your loan, you will have avoided foreclosure.

To read more on this story, visit:
http://www.associatedcontent.com/article/8037099/how_bankruptcy_can_help_with_foreclosure.html?cat=3

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy attorneys at (305) 285-9100. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

HOA Foreclosures on the Rise as Many Homeowner Associations are Seeking Revenge on Delinquent Homeowners

May 14, 2011 Posted by kingcade

A new trend has surfaced as a result of numerous homeowner associations being fed up with late dues and maintenance bills largely in part to delinquent owners. Due to the fact it is easier for an association to foreclose than a bank- being that there is no proof of ownership necessary, no issue of ‘robo-signed’ documents- the number of HOA foreclosures is climbing as homeowner association boards are taking matters into their own hands.

When a homeowner association forecloses and takes title to a home, the idea is the board will be able to rent it out until the bank forecloses as the primary lien holder. With banks taking years to foreclose on some properties, this allows for the homeowner association boards to potentially collect thousands of dollars.

To read more about this story visit:
http://www.palmbeachpost.com/money/foreclosures/hoa-foreclosures-climbing-as-associations-seek-revenge-on-1462421.html

Foreclosure defense attorney, Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.