How to Avoid Foreclosure and Keep Your Home

While many people dream of becoming a homeowner, it’s safe to say they don’t dream of being the homeowner of a house that is being foreclosed upon. Unfortunately, unforeseen circumstances can occur that leave you unable to pay your mortgage and as a result, face foreclosure.

The number of homeowners facing foreclosure is higher than one would expect. To put it in perspective, one out of every 200 families will have their homes foreclosed upon each year, 250,000 new homes enter into foreclosure every three months, and one child in every classroom in America is at risk of losing their home.

When a lender forecloses upon your house in the event you fail to make the agreed-upon mortgage payments, the property’s value is severely decreased. Not only do you have to leave your home, but you may still have to pay the mortgage money as a deficiency judgment. Both of these foreclosure and deficiency judgments can become serious problems for you, especially when it comes to qualifying for credit from a bank.

Avoid having to deal with a foreclosure with these tips on how to keep your home, and don’t hesitate to contact The Law Offices of Patrick L. Cordero today. Our experienced team can walk you through all your options and offer compassionate help during a tough time.

Call 305-445-4855 and find out why we’ve earned the honor of being Florida’s largest consumer bankruptcy filing firm!

Communicate with Your Lender

Communicate with your lender

 

It is in your best interest to discuss your financial situation with your lender as soon as you start having problems making your monthly mortgage payment. Remember that lenders are not in the business of foreclosing on houses; they are in the business of lending money. They want to work out an alternative that allows you to pay off the rest of your mortgage, and for them to continue collecting interest on the remainder of your payments.

 

 

 

Open Your Mail

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You can’t work out an alternative payment plan if you don’t know that you need to in the first place. Make sure you open all of your mail, especially if you have not been making your mortgage payments. Usually, mail from your lender sent in the beginning stages of defaulting on your mortgage gives you more options than the inevitable eviction notice that comes along later. Stay on top of deadlines for negotiation from the bank, as well as Notices of Default. Failing to do so will not help you in the court of law.

 

Prioritize Your Expenses

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The time to prioritize your spending is when your finances get tight. After healthcare, you should consider keeping the house before any other luxury. Make a list of all the bills you must pay, and from there analyze where the rest of your money goes every month. Until you get your finances back under control, cut expenses such as memberships, clothing, and other entertainment options. You can also use your assets like jewelry, a second car, and an insurance policy to immediately refinance mortgage payments.

Know Your Mortgage Rights

If you live in South Florida and are worried about losing your home, a Miami foreclosure attorney can help familiarize you with your mortgage rights and make sure your lender has not violated the Fair Lending Act. Experienced foreclosure lawyers in Miami will make sure you are aware of what your options are, negotiate to buy you more time to pay arrearages, or in some cases even have a whole new mortgage executed.

Our foreclosure attorneys in Miami can help you take the first step towards a better financial future. Contact the Law Offices of Patrick L. Cordero today at 305-445-4855 to schedule an appointment for a free consultation.

How to Avoid Foreclosure and Keep Your Home Title Image

How to Avoid Foreclosure and Keep Your Home

While many people dream of becoming a homeowner, it’s safe to say they don’t dream of being the homeowner of a house that is being foreclosed upon. Unfortunately, unforeseen circumstances can occur that leave you unable to pay your mortgage and as a result, face foreclosure.

The number of homeowners facing foreclosure is higher than one would expect. To put it in perspective, one out of every 200 families will have their homes foreclosed upon each year, 250,000 new homes enter into foreclosure every three months, and one child in every classroom in America is at risk of losing their home.

When a lender forecloses upon your house in the event you fail to make the agreed-upon mortgage payments, the property’s value is severely decreased. Not only do you have to leave your home, but you may still have to pay the mortgage money as a deficiency judgment. Both of these foreclosure and deficiency judgments can become serious problems for you, especially when it comes to qualifying for credit from a bank.

Avoid having to deal with a foreclosure with these tips on how to keep your home, and don’t hesitate to contact The Law Offices of Patrick L. Cordero today. Our experienced team can walk you through all your options and offer compassionate help during a tough time.

Call 305-445-4855 and find out why we’ve earned the honor of being Florida’s largest consumer bankruptcy filing firm!

Communicate with Your Lender

Communicate with your lender

 

It is in your best interest to discuss your financial situation with your lender as soon as you start having problems making your monthly mortgage payment. Remember that lenders are not in the business of foreclosing on houses; they are in the business of lending money. They want to work out an alternative that allows you to pay off the rest of your mortgage, and for them to continue collecting interest on the remainder of your payments.

 

 

 

Open Your Mail

How to Avoid Foreclosure and Keep Your Home Featured Image 2 (open your mail)

You can’t work out an alternative payment plan if you don’t know that you need to in the first place. Make sure you open all of your mail, especially if you have not been making your mortgage payments. Usually, mail from your lender sent in the beginning stages of defaulting on your mortgage gives you more options than the inevitable eviction notice that comes along later. Stay on top of deadlines for negotiation from the bank, as well as Notices of Default. Failing to do so will not help you in the court of law.

 

Prioritize Your Expenses

How to Avoid Foreclosure and Keep Your Home Featured Image 3 (Prioritize Expenses) (1)

 

The time to prioritize your spending is when your finances get tight. After healthcare, you should consider keeping the house before any other luxury. Make a list of all the bills you must pay, and from there analyze where the rest of your money goes every month. Until you get your finances back under control, cut expenses such as memberships, clothing, and other entertainment options. You can also use your assets like jewelry, a second car, and an insurance policy to immediately refinance mortgage payments.

Know Your Mortgage Rights

If you live in South Florida and are worried about losing your home, a Miami foreclosure attorney can help familiarize you with your mortgage rights and make sure your lender has not violated the Fair Lending Act. Experienced foreclosure lawyers in Miami will make sure you are aware of what your options are, negotiate to buy you more time to pay arrearages, or in some cases even have a whole new mortgage executed.

Our foreclosure attorneys in Miami can help you take the first step towards a better financial future. Contact the Law Offices of Patrick L. Cordero today at 305-445-4855 to schedule an appointment for a free consultation.

The Secret to Effectively Managing Your Debts Title Image

The Secret to Effectively Managing Your Debts

Americans currently have over $999 billion in credit card debt, over $1.17 trillion in auto loan debt, and over $2.8 trillion in non-revolving debt, aka loans. Needless to say, if you currently have a debt to your name, you’re not alone.

Debt is a lifesaver for a lot of consumers; however, it can quickly spiral out of control if left unchecked. The American Bankers Association recently found delinquency rates were on the rise with credit card delinquencies climbing to 2.74%, and auto loan delinquencies following not far behind at 0.87%.

The best way to safeguard yourself against contributing to the growing rate of delinquencies is to have a fiscal plan. Stay on top of your finances with these secrets to effectively managing your debts.

Contact The Law Offices of Patrick L. Cordero, the largest consumer bankruptcy filing firm in Florida, to learn more about how we can help you through difficult times. Call 305-445-4855 today to explore your options!

Sell Your Assets

Selling Your Assets

When it starts to become harder and harder to make your payments, that is when you should start to take proactive measures to manage your debts. For those in a tight spot financially, selling your assets can give you the cash you need to stay afloat.

Assets that can yield a high return include jewelry, furniture, electronics, and whatever else has any resale value. If you don’t like the idea of getting rid of your things, keep in mind that it is still a far better option than filling for a bankruptcy.

 

Ask Creditors for Help

Asking Creditors for Help

The worst thing you can do when creditors are calling is not responding. Creditors would rather get a few dollars from you as opposed to nothing at all and are willing to work out a repayment plan as long as you communicate with them.

Start by letting them know that you want to avoid bankruptcy, but can’t afford to make the previously arranged payments. Ask them if they can ease the burden for you by reducing your interest rate or monthly payments (or both). Fortunately, a majority of banks and credit-card companies have hardship programs for similar situations.

Note that before entering any program you need to make sure your interest rate and monthly payment are actually reducing, otherwise the repayment plan will be counterproductive.

Seek Professional Help

If the creditors are unwilling to work with you, then the next step is to seek consumer credit counseling or the help of a professional who can work with creditors on your behalf in order to resolve the issue.

The latest Florida bankruptcy law requires completion of credit counseling before bankruptcy filings can proceed. That being said, professional counseling is a much better alternative to bankruptcy.

Get Help from Friends and Family

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Usually, borrowing money from friends and family is not recommended as it can make things awkward or put a strain on the relationship. However, every rule has an exception, and bankruptcy is one of them.

First, calculate the amount that is needed to avoid bankruptcy, and then ask for help from friends and family. Before you approach them, make a plan for how and when you will be able to repay the borrowed money.

Avoid any future issues or misunderstandings by writing out a formal repayment plan and having both parties sign it. This will help everyone involved feel more comfortable, as well as hold both parties accountable for their financial commitments.

Settle with Debt Collectors and Creditors

While settling your debt should be avoided under normal circumstances, bankruptcy isn’t an avoidable issue. Be cautious when dealing with debt settlement companies as they are known to ask for extra money.

Concentrate on debts that are charged off and have already been sent to collections. Once the agreement is made, make sure you are financially prepared to pay off some of the settlement amounts.

Consult with a Miami Bankruptcy Attorney

Believe it or not, life after bankruptcy and free of debts is possible. If you feel like you are in over your head with debt, then the Law Offices of Patrick L. Cordero are here to help you get back on your feet.

Our bankruptcy lawyers in Miami are more than happy to help you find viable options for debt relief. Contact us today to schedule the first consultation to getting your life back on track.

Don’t Be Fooled_ The 3 Misconceptions About Your Mortgage Title image

Don’t Be Fooled The 3 Misconceptions about your Mortgage

In the US, there is a total of $9.9 trillion in mortgage debt alone. These days many people think that buying a home is unreachable. They typically think it is part of the American Dream, but not within their means. Because of this misconception, the process of buying a home is often put on hold before it’s even started.

However, there are a few things that every potential homeowner should know before spending their dollars on rent. Getting rid of these misconceptions will help when it comes time for you to buy a house.  

Misconception 1: A large deposit is required to own a home

Many Americans believe home ownership is a dream because the down payments can be as much as 20% of your home’s purchase price. There are ways of getting around this.

A lower down payment, say around 3%, is possible for people with good credit.  If a person’s credit score is high enough, he or she could be eligible for a 3.5 % loan from the U.S. Federal Housing Administration (FHA).

There are also great options available for veterans, or anyone who is prepared to buy in a rural area. These buyers may be able to get financing without any down payments at all from the VA and USDA loan programs.

Misconception 2: An excellent credit rating is required for a mortgage approval

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There is no doubt that a high credit rating will improve your chance of mortgage approval and lowered interest rates. In the U.S., the FICO credit median score is around 700. The minimum credit score required for a conventional mortgage is 620. A score of 580 is required for an FHA loan with a 3.5% down payment. If a 10% down payment is made, your credit score only needs to be 500.

Data from FICO indicates that only 4.7% of the U.S. population has a FICO score below 500. This shows that your credit score on its own is not a valid reason to be rejected for a mortgage. Of course, there are other reasons that could lead to rejection.

Misconception 3: Debt from a student loan debt prevents home ownership becoming a reality

Don’t Be Fooled_ The 3 Misconceptions About Your Mortgage Featured Image #2 Student Loan Debt
Many younger Americans with student loans delay even thinking about buying a home. What these recent grads probably don’t realize is that the guidelines for mortgage qualification have changed recently to encourage those with student loans debt to consider buying a home.

Two government-sponsored entities, Fannie Mae and Freddie Mac, publish the standards for approving conventional mortgages. What stands out the most is the debt-to-income ratio of the borrower. This is typically a borrower’s debt obligations calculated on a monthly basis, which includes a new mortgage as the percentage of their income before tax.

For example, a borrower with a monthly debt of $1,000 and an income of $5,000 would work out to be a 20 percent debt-to-income ratio (DTI). Up until quite recently, the maximum permissible DTI was 45%. Since July 2017, the maximum DTI has been increased to 50%, so that more first-time house buyers can get approved. This shows that student loan debt may not be as much of a barrier to mortgage approval as most people think.

Final Thoughts

It may not be so difficult after all to buy a home. This is true even if you don’t have as much money for a down payment, have a low credit score, or have student loan debt. The American Dream of owning a home can be a reality for you after all.

If you need a real estate lawyer, we can help. We are the largest bankruptcy filing firm in the state of Florida. Reach out to us so we can get started helping y

Collaborative Divorce_ A Possibility, or Just an Illusion_

Collaborative Divorce: A Possibility, or Just an Illusion?

Collaborative divorce sounds like a dream come true, especially when compared to what people traditionally think of when they hear the word divorce. Happy endings are not always the case though. Collaborative divorce is usually not the rosy process it sounds like. Rather, it’s a more balanced, respectful way to go about ending a marriage.

As divorce attorneys in Miami, we are here to help. Find our guide on all things collaborative divorce below.

What is Collaborative Divorce?

At its most basic, collaborative divorce is the process of a couple working together on their divorce rather than taking a hostile approach. The couple does not go to court but works with their attorneys to come to a conclusion. Both parties still have separate attorneys. Both parties still split up their assets and, if a child is involved, work out child custody.

The difference is that both parties enter the divorce process with an expectation and desire to come to a mutually agreed upon and beneficial understanding. This is not always the easiest process.

Divorces get ugly. This is true for a multitude of reasons, be they money, property, children, alimony, or the reasons the marriage ended in the first place. Collaborative divorce sounds like a nice option, but it is much more difficult than most people imagine.

Easier Said Than Done

According to a US News and World Reports article, there were only sixty-two collaborative divorces filed out of 3,862 total divorces during a two-year period in one Wisconsin county. That number highlights just how difficult the collaborative process is.

We touched on this above, but it bears examining a bit further. One of the main reasons for this difficulty is that couples think they can have a collaborative divorce before finding out just how challenging this really is. Another major reason is that the parties’ attorneys may believe they can handle a collaborative divorce but the lawyers are not experienced enough in collaborative law to manage.

Yet another reason for the difficulty resulting from collaborative divorce is the participation agreement. This is an agreement entered into that if the collaborative process does not work, the individuals’ counsels will recuse themselves and both parties will find new attorneys.

Finally, collaborative divorce is often difficult is because it is not mediation. There is not a neutral force holding the parties accountable. There are only the divorcing couple and their attorneys to intervene should tempers rise or anger flair.

The Financial Benefits of Collaborative Divorce

Being faced with so many obstacles, you may ask why anyone would choose to have a collaborative divorce. Faced with an already difficult situation, why opt to stay out of the courtroom and forgo a mediator?

The answer, as so many answers do, comes down to money.

The average divorce is estimated to cost between $15,000 and $30,000. Collaborative divorces, on the other hand, cost around $7,500. That is significant savings, especially when you consider the lost equity that comes from dividing property during a divorce.

So, is collaborative divorce a possibility or just an illusion? The answer depends on you and your partner. If you are capable of cooperating, it is a wonderful option. If not, it is best to stick to traditional divorce.

We should note that the Law Office of Patrick Cordero do not practice collaborative divorce. This article is intended for informative purposes only.

Rebuilding your Credit after Bankruptcy

Building your Credit after Bankruptcy

Going through a bankruptcy may be overwhelming, yet also interesting. Although on one hand, it has its challenges, on the other, it allows you to establish a clean slate.

Don’t worry! With the right strategy, you can rehabilitate your credit back to the way it was, or even better. Here are a few things you can do to build your credit standing after bankruptcy:

 

Remember the Mistakes You’ve Made

Bankruptcy may be a painful past that no one wants to remember, but remembering is actually the very first thing you need to do to improve your credit score.

First and foremost, you must determine the cause of the bankruptcy to prevent ever having to deal with it again. Recall what you may have done wrong, and what type of transactions you’ve done. This way, if you see yourself engaging in the same pattern, you can stop yourself from falling into the same pitfalls.

 

Pay Remaining Debts

If you’re left with some restructured debts that you need to pay, you must first show that you are capable of paying them off. Don’t start dealing or initiating other transactions right away. First, prove that you can meet current debt payments on your own without seeking financial help from others. You will eventually improve your income to debt ratio as well as your credit standing.

A lot of lenders are half-hearted when dealing with a borrower who maintains many outstanding debts. It’s best to pay outstanding debts first, and you should be ready to go.

 

Budget and Plan

You are given a fresh new start to take more time and focus on budgeting and planning among all else. Your credit score is important, but so are your savings, and your emergency fund.

Stay on top of your finances by first putting part of your money on savings and emergency funds. Once this is established, plan the remaining money for other necessary expenses. This may not seem much, but saving money for emergencies can save you from unexpected expenses that may hinder the improvement of your credit standing.

 

Secure Your Transactions

Now that you have shown your capabilities of handling debts and current finances, you must show lenders that you are worth investing in. You may do this by applying for a secured credit card, or a secured loan. You may also ask someone with a good credit standing to co-sign your credit card or loan. Having security over your transactions will improve your credit score, as banks or other financial institutions will consider you as a risk-free investment.

 

Pay your Debts on Time

Now that you have dealt with your past expenses, and have learned to budget and plan your finances, the only thing left to do is to pay your debts on time. This is the culmination of everything you’ve worked hard to get back. If you consistently pay your debts on time, you’ll be able to improve your credit score over time and even surpass your best credit standing.

Life after bankruptcy may be difficult to manage but it doesn’t have to stay that way. There are plenty of means to build your credit standing. If you want to learn more about improving your credit, feel free to contact us and schedule a consultation. Get in touch with us by calling 305-445-4855.

We can help you file for bankruptcy relief and assist you in getting back on your feet.

How to Keep Your Home With Mortgage Modification Mediation

How to Keep Your Home with Mortgage Modification Mediation

Florida has the second highest rate of bankruptcies in the nation. Upwards of 94,800 filings occurred in 2011. Thankfully, that number is less today. There were a total of 15,434 bankruptcy filings in South Florida in 2017.   

While the number of individuals claiming bankruptcy has decreased, the devastation it may visit upon these individuals has not. One of the most common fears, and most common results, of an individual declaring bankruptcy is that they lose possession of their home.

Thankfully, there is something called Mortgage Modification Mediation (MMM). As the largest consumer bankruptcy filing firm in Florida, we know a thing or two about using Mortgage Modification Mediation programs to help you keep your house.

Check out our guide below. Do not hesitate to contact us today so we can help you keep possession of your home.

What is Mortgage Modification Mediation (MMM)?

Mortgage Modification Mediation is a process by which homeowners can negotiate to keep their house after declaring bankruptcy. It involves a court-appointed mediator working with the individual filings bankruptcy and their attorney to come to a modified mortgage agreement.

It is important to note here that any agreement reached must be signed by the Bankruptcy Court before it becomes enforceable.

A few other MMM caveats exist. These include: the debtor having a regular income, and seeking mortgage mediation on their primary residence.

The Mortgage Modification Mediation Process

The MMM process begins when the debtor files a motion to engage in Mortgage Modification Mediation within ninety days of declaring bankruptcy. The mortgage lender then has fourteen days to contest this motion. The court will reconsider and, if they decide to allow the individual filings bankruptcy to continue MMM, will appoint a mediator.

This mediator will then work with the debtor, their foreclosure attorney, and the lenders to come to an agreement. This agreement must be reached within 150 days, unless both sides agree to an extension. The modified mortgage can take on different forms, including: lowered monthly payments, reduced interest rates, extending the length of the loan, and more.

After the individual files for bankruptcy, their attorney  and the mediator come to an agreement, where the modified mortgage is brought before the Bankruptcy Court. The court can choose to approve it or not. There are other options, including filings for Chapter 13 bankruptcy, if the court does not approve the modification.

Should You File for Mortgage Modification Mediation?

There is not a single answer to this question. Rather than saying yes or no, you should ask yourself if MMM makes sense in your current situation.

First and foremost, you must meet the criteria to file for modification mediation. If you do meet the criteria, then it is wise to consider whether you will be able to make modified payments. If you have declared bankruptcy because you have lost your job or source of income, for example, it may not make sense to apply for MMM. If, on the other hand, you have experienced temporary hardship but still have a source of income, then it may make sense to file for MMM.

Again, the answer will largely depend on your individual situation. If you would like a personalized review of your options, call us today at 305-445-4855 for a free consultation. We will review your situation and offer smart, actionable advice.

Custodia Infantil en Miami

¿Cómo Funciona la Custodia Infantil en Miami?

Sorprendentemente, en Miami y en toda Florida, ningún caso o tribunal permite la «custodia exclusiva» de un niño. Con el tiempo, el término «custodia exclusiva» ha adquirido connotaciones negativas. Aunque puede recibir lo que se conoce como «responsabilidad exclusiva» de un niño, que funciona igual que la custodia exclusiva. Usted debe saber que los tribunales ya no usan el término «custodia exclusiva», pero el concepto aún está allí. La ley de la Florida ha establecido que los estados de custodia pueden incluir el tiempo de crianza o la responsabilidad “de los padres”, que son dos cosas diferentes. El tiempo de crianza, o tiempo compartido, es la cantidad de tiempo que puede pasar con su hijo. La responsabilidad “de los padres”, por otro lado, permite que uno de los padres tome las decisiones principales para el niño. A continuación encontrará todos los factores que se consideran al determinar la responsabilidad exclusiva en Miami.

Razones para la Custodia Única

Los tribunales de Florida o Miami pueden otorgar la responsabilidad exclusiva de los padres a uno de los padres, si el otro no es lo suficientemente estable. Esto sucede cuando vivir con uno de los padres puede ser peligroso para el niño. Por ejemplo, si uno de los padres es alcohólico o abusa de drogas y no podrá ser responsable del niño. Si se sabe que el padre es violento o agresivo en el hogar, esto también puede ser inseguro para el niño. Si el padre es diagnosticado con una enfermedad mental grave, es poco probable que el tribunal le otorgue la custodia del niño.

Estrategia de crianza

Cuando una pareja se divorcia en Miami, tiene que haber un plan de crianza. Esto es necesario para asegurarse de que cada padre tenga su propia responsabilidad con su hijo. Por ejemplo, una responsabilidad podría ser tomar decisiones con respecto a la atención médica, y otra podría ser sobre la educación del niño. Una vez que los padres acordaron o crearon este plan, debe ser aprobado por el tribunal.

Crianza Compartida

Tener hijos compartidos a veces puede ser complicado. Básicamente significa que los padres deben decidir juntos cuando hacen elecciones para el niño. Ambas partes tienen que estar de acuerdo. No significa que los padres tengan 50/50 de custodia del niño, pero que ambos padres puedan opinar en la vida del niño. El hecho de que los padres se estén separando no significa que tengan que divorciarse de sus hijos también.

Custodia rotativa

Si los padres se llevan bien entre sí, y el divorcio fue «saludable», entonces la custodia rotativa puede ser beneficiosa para ellos. Esto realmente significa que uno de los padres tiene la responsabilidad del niño por un período de tiempo, y el otro padre tiene la responsabilidad del niño por el mismo período de tiempo. Esto es bastante raro en los tribunales, ya que la mayoría de las personas que están divorciadas no se llevan bien, pero puede suceder. La custodia rotativa también puede afectar al niño de una manera poco saludable o confusa, ya que él o ella seguirán cambiando las casas y el entorno.

El divorcio y el acuerdo de la custodia de los hijos no es fácil. Puede ser complicado lidiar con problemas legales, especialmente cuando se trata de su propia familia. Permítanos ayudarle en todos los aspectos del divorcio. Contáctanos ahora.

5 Reasons Why You Should Hire Patrick Cordero

5 Reasons Why You Should Hire Patrick Cordero

Finding the right attorney is not an easy process. Not only do you need to find an attorney that practices the right type of law, but you need to feel confident in your decision. This is true whether you are choosing a lawyer to buy or sell a house, to help you navigate the bankruptcy process, or for something else entirely.

This is where Patrick Cordero enters the picture. Patrick and his law office are the right attorneys for you. Not only are they the largest consumer bankruptcy filing firm in Florida, but they have many other specialties. More importantly, they have the knowledge, experience, and personal touch to put your mind at ease.

Find the top five reasons you should hire Patrick Cordero below. Don’t hesitate to call 305-445-4855 now for your free consultation.

Over 30 Years of Experience

Patrick and his team have over three decades of experience. They also boast sixteen years as the largest consumer Chapter 7 and Chapter 13 bankruptcy petition firm in Florida. Not every attorney can say that. Not even law firm can, either.

When you are looking for an attorney you can trust, Patrick Cordero is the only choice. This is reflected in Patrick’s A+ rating from the Better Business Bureau and his numerous awards.

Client Service is Always Personalized

Many law firms operate on with a “bigger is better” mentality. This means they want to bring in as many clients as possible. They are more concerned with their bottom line than with helping someone who turns to them in a moment of need.

This is not the case at the Law Offices of Patrick Cordero. Every case Patrick and his team take on is given a unique level of personalized service. You can rest assured that you will get a higher level of service from your first phone call, through your free consultation, into your case itself.

Personalized service is our guarantee to you. It is the main reason we have experienced the success we have. Find out for yourself today.

You Get an All-Star Team

Patrick Cordero is great, but do you know what is even better than Patrick on his own? A team of experienced, expert, and caring attorneys all working for you. We are proud to say we have that at our law firm.

Our diverse and dedicated team is here to help. We are here to take the weight of declaring bankruptcy off your shoulders. We are here to make buying or selling property easier. Whatever it is that you need help with, our team can make it happen. That is not just lip service, either. Patrick and his team of attorneys have won numerous awards that highlight their skill, service, and tenacity.

You Get an Award-Winning Law Firm

The Law Offices of Patrick Cordero are proud to call ourselves award-winning. We have been honored with the following awards during our decades of practicing:

  •         The Hispanic Leader of the Year, The Minority Chamber of Commerce, 2016
  •         Premier Service Award, CityOf.com/Miami, 2016
  •         2016 Client Satisfaction, American Institute of Family Law Attorneys, 2016
  •         Top 100 Lawyers, The National Advocates, 2016
  •         America’s Most Honored Professionals, Top 5%, America’s Most Honored Professionals, 2016
  •         Highest in Ethical Standards & Professional Excellence, Top Lawyers in Florida. The Legal Network, 2016
  •         Top 50 lawyers in America, Legal Network, 2015
  •         Avvo Client’s Choice Award, 2015
  •         National Minority Lawyer of Year, Minority Chamber of Commerce, 2014
  •         TOP Lawyers in Florida, The Legal Network, 2013
  •         Top 100 Lawyer Consumer Bankruptcy Award, 2013, 2014 & 2015
  •         America’s Top 50 Consumer Bankruptcy Attorneys, 2011
  •         Lawyer of the Decade, Minority Chamber of Commerce, 2010
  •         And more!

Patrick Takes a Personal Role

To cap off an already strong list of reasons you should hire Patrick Cordero, there is the fact that Patrick is personally involved in most of the cases handled by his firm. He does not sit in an office all day and avoid working with his clients. No, he takes an active role and uses his decades of experience to help win cases.

Contact Patrick today if you want an attorney you can trust. Remember, your initial consultation is free and designed to give you a full understanding of how Patrick and his team can help.

Para los Floridianos, los Préstamos Escolares Permanecen Después de la Bancarrota

Para los Floridianos, los Préstamos Escolares Permanecen Después de la Bancarrota

Con los precios de matrícula que se disparan para universidades y colegios en todo el país, incluidas las ubicadas en Miami y el sur de Florida, para alcanzar un grado académico, muchas personas se ven obligadas a tomar tanto préstamos privados como federales. Como escribimos en una publicación previa del blog, algunos expertos financieros esperan que la próxima ola de personas que se enfrentan a la bancarrota sean estudiantes que carguen con la deuda de los préstamos para la educación superior. Para algunos ex alumnos, el futuro es ahora.

Los préstamos a escuelas privadas no se pueden cancelar 

Las personas que se encuentran con una gran cantidad de deudas de múltiples fuentes, incluso de préstamos escolares, se declaran en bancarrota en un intento de comenzar de cero. Lamentablemente, el resultado final no siempre es todo lo que esperan. Esto se debe a que, a menudo, la pesada carga de la deuda generada por los préstamos escolares se da en forma de préstamos a escuelas privadas que no se pueden cancelar en un procedimiento de bancarrota.

Independientemente de si se declara en bancarrota según el Capítulo 7 o el Capítulo 13, el resultado final de una declaración de bancarrota suele ser la cancelación de cualquier deuda restante en forma de préstamos para automóviles, hipotecas, facturas médicas y tarjetas de crédito. Los préstamos de escuelas privadas no están incluidos en esa lista. Ellos, junto con varios otros tipos de deudas, incluidas multas penales y pagos de manutención de los hijos aún permanecen al final de la quiebra.

Los préstamos escolares no siempre estuvieron en esa categoría.

Antes del 1976, todos los préstamos garantizados para pagar la escuela fueron dados de baja en la bancarrota. Desde entonces, las leyes han seguido reduciendo la capacidad de un estudiante para cumplir con la deuda del préstamo escolar.

Curiosamente, lo que actualmente es la mayor prestamista privada, Sallie Mae, ha indicado que respaldaría los cambios a la ley que permitirían a las personas que deben dinero en préstamos escolares que los liberen después de un cierto período de tiempo. La advertencia es que la misma regla debería aplicarse también a la aprobación de préstamos federales. Queda por ver si un cambio como el que apoya Sallie Mae llegará a buen término.

Mientras tanto, es importante que cualquier persona que esté considerando declararse en bancarrota conteste todas sus preguntas consultando a un abogado especializado en bancarrotas.