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Tampa Bankruptcy And Reorganization Blog

Is medical debt tying you down?

There are many ways to get deeply in debt. Profligate spending, unexpected expenditures and educational costs all can swell your budget to the bursting point and leave you in debt.

However, one impossible-to-avoid reason for getting behind on your bills is medical debt. Far too many Tampa residents find that their medical bills and expenditures have left them on the brink of bankruptcy. In fact, according to the Consumer Financial Protection Bureau (CFPB), approximately 43 million individuals living in the United States have credit reports listing unpaid medical debts.

Can you save your hotel with a Chapter 11 bankruptcy?

Small, family-run hotels used to be the norm here in South Florida. In fact, many small hotel owners inherited their properties from their parents, who in turn were left the hotels by their own parents.

But those are bygone days. Today, in South Florida and elsewhere in the state, most smaller, independent hotels have been swallowed up by hotel conglomerates and condominium developments.

Florida berry growers face uncertain future with new trade pact

The renegotiated North American Free Trade Agreement (NAFTA) known as the United States-Mexico-Canada Agreement (USMCA), a modern version of the former agreement, may be a bad proposal for Florida farmers who grow berries.

Even under the rules of NAFTA, growers saw major price drops for berries brought in from Mexico. Growers worry that their Florida-grown berries could face the same grim fate as tomatoes grown here in America did in the past decade.

Begin 2020 with a fresh start after filing bankruptcy

The end of the year is always a good time for contemplation: where you've been, what you accomplished and where you need to improve.

Some people can find that their progress is hampered by debtloads that are out of control. Fortunately, relief can be found by filing for bankruptcy under Chapter 13.

Are you hoping the holidays will save your small business?

If you are a Tampa small business owner, you may be counting on this fourth-quarter surge of holiday spending to get you out of the red and into the black. After all, it's been a brutal year for retail outlets across the country.

The problem with that is that while a strong holiday season may get you through until 2020, it might not be enough to sustain you throughout the next year. Instead of being a cure-all, this last-ditch effort to keep your doors open may actually only be life support.

Changes coming for Chapter 11 bankruptcies

Running a small business has its ups and down. Seasonal businesses can be especially vulnerable to outside influences such as re-routed traffic or ongoing construction that can affect their bottom lines.

If you are a Tampa small business owner who is teetering on the precipice of bankruptcy, you should be aware of some pending changes that will take place in February.

Help may be on the way for student debtors

Those who are struggling to get their finances under control at least in part due to unpaid student loans may be encouraged by some recent news on that front.

Back in May, Democratic Sen. Dick Durbin from Illinois introduced a bill known as the "Student Borrower's Bankruptcy Relief Act of 2019." This bill was also co-sponsored by three of the candidates for the Democratic presidential nomination -- Senators Kamala Harris, Elizabeth Warren and Bernie Sanders.

Don't wait too late to file for personal bankruptcy

Timing is everything when it comes to legal matters like bankruptcy. You don't want to hesitate too long to file, as that could increase your woes.

Failing to take action and filing for Chapter 13 bankruptcy can make you lose some of the protections that are offered to you under the law. For instance, you could wind up losing your home to foreclosure or your vehicle to repossession if you delay filing.

Chapter 12 bankruptcy filings surge in 2019

American farmers are suffering due to the United States' trade wars with other countries. As a result, there has been an across-the-board uptick in Chapter 12 bankruptcy filings as farmers scramble to reorganize their debts and keep their farms.

Records for bankruptcy filings indicate that as of the end of September, there had been 580 Chapter 12 bankruptcy filings. This is a 24% increase from the same point in 2018. It's also the most filings since 2011, when 676 American farmers filed for Chapter 12 bankruptcy relief.

Save your business with Chapter 11 bankruptcy

Are you trying desperately to keep the wolf from the door of your retail business? If you are facing November still in the red, you may have hung the fate of your company on the 2019 holiday season.

But what if sales continue to be down during the final quarter of the year just as they were for the other three quarters? You could be facing some really tough decisions in the new year.

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