Krasker Law Student Loans

Paul A. Krasker, Esq. founded the Law Office of Paul A. Krasker, P.A. on July 1, 2009 and previously was a name sharehold within the commercial department of the law firm of Moyle, Flanigan, Katz, Breton, White & Krasker, P.A. in West Palm Beach. Mr. Krasker practices in the areas of real property, business and general corporate law. His corporate practice centers on counseling businesses on entity...

How to Know When to File Bankruptcy

The decision to file bankruptcy is not an easy one to make, and is not without financial consequences. The recent economic downturn has caused an increase in individuals who are considering filing bankruptcy. Unemployment and the housing decline are some of the main reasons for this increase, but many people struggle with the decision nonetheless. The following are some things to consider when making this decision.

Is it possible for me to repay this debt?
Most people live with a certain amount of debt, but if economic circumstances point to the reality that an individual may not be able to ever repay the debt due to certain hardships, it may be a good decision to file bankruptcy.

What about my credit?
A bankruptcy will negatively affect an individual’s credit score, and this is something to consider before making the decision to file bankruptcy. It may be more difficult to secure a mortgage, car loan, or other loans for a period of time after filing bankruptcy. However, paying bills late or not paying at all negatively affects one’s credit as well. Filing bankruptcy can create a fresh start, and also put an end to the stream of creditor collection phone calls and other communications.

What is the connection to foreclosure defense?
Some individuals who are currently in the midst of foreclosure defense have found it helpful to file bankruptcy if they find themselves overloaded with debt. Bankruptcy can help to lengthen the foreclosure process and give the individual more time to evaluate all of his or her options.

Do I need to hire a bankruptcy attorney?
Most individuals find it helpful to hire a bankruptcy attorney. In 2005, the bankruptcy laws were reviewed and changed to defend against abusing the bankruptcy laws. In turn, this makes it more difficult for an individual to file bankruptcy without the assistance of a bankruptcy attorney.

It is important for individuals who are considering bankruptcy to explore all options when making the decision.

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