Our law office has been helping Tallahassee residents and those who live in other parts of Florida file for bankruptcy for over three decades. In the course of representing individuals and business owners, we've discovered some misconceptions that people who come to us will frequently have about the bankruptcy process.
It is a tough time for a Tallahassee resident when the business they worked hard to start or grow winds up collapsing underneath the weight of changing market conditions, a tough economy or other factors that may be beyond the control of the business owner. While it is not a pleasant subject to think about, in addition to wrapping up one's business, a Florida resident may also need to think about filing for personal bankruptcy during this difficult time.
A previous post on this blog talked about how many Americans, including those in Tallahassee, Florida, and the surrounding area, just do not have enough saved up in an emergency fund in order to pay off credit card debt in a hurry.
One of the main reasons a family in Tallahassee might start to think about filing for personal bankruptcy is that they have begun to fall behind on their house payments. After all, no one wants to be scrambling to find a place to live, particularly if they have children to provide for.
Many Tallahassee residents get driven to exploring bankruptcy as an option for their financial woes because they have gotten behind in their house payments and are facing a foreclosure action in the near future. Not wanting to lose their home, these struggling families may see bankruptcy as the way to save it.
One of the most common complaints we hear from clients is, "The phone won't stop ringing."