Lake Monroe, FL Bankruptcy Law Firms & Lawyers

There is no legal limit on the amount of debt you owe. This is more of a practical issue. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.

I'm not sure why your house would be deemed abandoned if you are behind on just one mortgage paymentno matter where you live at the moment.? It is still your house, and I don't see why you couldn't rent it out to another family and maybe pay the mortgage that way if you're having trouble making the payments. The lender isn't likely to start foreclosure proceedings after just one month, and you might even be able to get a little breather once you are two or three months behind by letting the lender know you are working on ways to get caught up, or at least stay current if you can get a few months' extension. If you are in bad financial straits and think you may need bankruptcy help, make an appointment with a local bankruptcy attorney (many will give a 30-minute consultation for free) and take with you your deed, your vehicle registrations, your last two years' tax returns, last two or three pay stubs, most recent statements / invoices / demand letters from everyone you owe money to, a list of your assets, and a list of your ordinary monthly expenses. The attorney should be able to size up your situation and give you an answer whether bankruptcy will help you, what to expect, and how much it will cost. He or she also should be able to give you advice about the "abandoned" house. Good luck.