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Somerset Bankruptcy and Real Estate Law Blog

Why you should have an attorney to help during your real estate transaction?

 Whether you are buying or selling your home, it can be tempting to try to go it alone, legally speaking. Especially if you’ve been through the process before, you think you know what to look out for. Why, then, consider getting the help of a real estate attorney?

Top things to look out for when purchasing a home

Buying a home is stressful and overwhelming, especially for a first-time homebuyer. For almost all buyers, purchasing a home will be the single largest financial transaction in your life. More often than not, this important decision is being made based on only having viewed the property once or twice.

At Mariano & Coiro, P.C., we have helped thousands of clients buy their homes. We understand what you’re going through and are here to help. This has given us a unique perspective on the process, as we see both the legal side and the interpersonal side through our clients’ eyes. Buying a home is exciting, but we can offer some advice on some things to look for that may have serious future implications.

3 Common Bankruptcy Myths

Financial difficulties can leave you feeling stressed and anxious. While bankruptcy provides relief from crippling debt, the social stigma surrounding it may cause you to hesitate when considering it. Complex emotions surround bankruptcy, and just thinking about it can be overwhelming.

However, bankruptcy is not a bad thing. In fact, it can help you get a fresh start. Looking at the facts provides a clearer understanding of bankruptcy’s benefits, as well as what it truly means for you in your day-to-day life.

Can Bankruptcy Stop Foreclosure And Save My Home?

Life is unpredictable and can change in an instant – for better or worse. Life’s unexpected challenges may lead to unforeseen expenses, and paying housing costs during these moments can seem nearly impossible. When the bills pile up and you don’t know what to do, filing for bankruptcy may be an option you need to consider.

However, you might wonder if declaring bankruptcy will mean losing your home to foreclosure. Mariano & Coiro, P.C., understands the common concerns and questions surrounding bankruptcy and can analyze your personal situation to help determine if remaining in your home is possible, and if so, under what circumstances.

How Filing Bankruptcy Will End Creditor Harassment

 Constant phone calls and letters from creditors and debt collectors are a major stressor — not to mention lawsuits filed against you. If you’re drowning in debt, chances are you already know you’re struggling and are desperately searching for a way out. The incessant pursuit by collection agencies can be an unnecessary reminder of your current struggles.

Pros And Cons Of Filing Chapter 7 Bankruptcy

It can feel like there’s no escape from economic difficulties, especially when you’re in the midst of them. You may know that bankruptcy can offer relief from severe financial struggles, but determining the correct type of bankruptcy to file is difficult.

Chapter 7 bankruptcy, also known as straight bankruptcy or liquidation bankruptcy, is a common option that offers debt relief and strives to provide you with a fresh start. To regain control of your life and clear your debt, Chapter 7 bankruptcy requires you to sell all “nonexempt assets.” This includes valuable jewelry, designer clothing, newer vehicles, valuable collections and any additional homes you may have. Mariano & Coiro, P.C., can help you decide if Chapter 7 is right for your situation.

Chapter 7 vs. Chapter 13 bankruptcy

When you are considering bankruptcy, the terminology alone can make your head spin. There are many different types, and each has its own requirements and restrictions. It is difficult for an individual to know which type will be right for them. Of course, it is always best to speak with an attorney. Bankruptcy is a particularly complicated area of law and affects your day-to-day life in many important ways. If done successfully, filing for bankruptcy means relief from creditor harassment, the threat of wage garnishment and never-ending bills and late fees.

Because of the huge impact to your quality of life bankruptcy will have, it is worth doing the research and talking to a lawyer you trust. At Mariano & Coiro, P.C. we have decades of experience in this area alone. We can talk you through your bankruptcy options and in the meantime, offer some basic information on the difference between the two most common types of bankruptcy: Chapter 7 and Chapter 13. Both can be used by individuals but they have some very different qualities.

Considering bankruptcy? Know these do's and dont's before you file

Even just thinking about bankruptcy can be overwhelming. Financial worries are stressful enough, and thinking about all the things that have to be done just adds to the worry and fear. As bankruptcy attorneys, we see this every day.

It's important to know that you don't have to face this alone. We have helped countless clients get meaningful debt relief and can offer you some of our do's and don'ts to ensure that you are prepared should you choose to file bankruptcy.

Why debt relief should be at the top of your New Year's resolutions list

The holidays can be a difficult time for many reasons, not the least of which is financial. There are many costs associated with celebrating the holidays, and bills can pile up. After the holidays, many people already on financially precarious footing, can feel even more worried and overwhelmed knowing they are entering the new year with even greater financial burdens.

Resolve real estate disputes without going to trial

Real estate transactions can be complex, and given the personal nature of a real estate investment, it's not surprising that disputes arise throughout the process of finalizing the deal. While real estate disputes are relatively common, it's important to understand that most of these disputes can be resolved without the need for a lengthy and expensive trial.