Bankruptcy help for Hialeah residents

The city of Hialeah Florida is one that was not spare from the market crash of 2007. With a population of 224,669 in 2012 compared to 226,411 in 2000 Hialeah has seen decrees of .8% in its population. This drop was due primarily to a large number of factories and small businesses closing during the recession.

Despite the number of positive signals from the economy, many families and individuals are still at the brink of bankruptcy, struggling with overwhelming debt and adjustable rate mortgages. Several federal funded programs like the LMM or loss mitigation mediation program have had some success in limiting or slowing down the rate of foreclosures in Hialeah. However, driving around East Hialeah specially in zip code 33010 and 23012 the hurting still visible with numerous abandoned residential and commercial properties. Many of these individuals chose to walk away rather than seek bankruptcy protection.

Despite popular belief, there is nothing shameful about filing for bankruptcy relief. On the contrary bankruptcy laws were put in place to help individuals who are overwhelmed with debt renegotiate or waive their debt. Had many of this families and individuals seek the help of a Hialeah bankruptcy attorney. They may have been able to renegotiate and or restructure their debt in a way that would allow them to stay in their home. A recent case study showed that those who chose to renegotiate their mortgage with a Hialeah bankruptcy attorney via the LMM program were successful 78% of the time.

In many of these cases the mortgage payment is less than what it will cost to rent an equivalent property. Hialeah is a very unique city with only about 7% of the population speaking English and about 92% speaking Spanish. Filing bankruptcy can be a tedious process and one you need to comprehend before moving forward. If you are seeking to file bankruptcy notes for a Hialeah bankruptcy attorney that speak Spanish. Alberto Hernandez P.A. is a Cuban-American bankruptcy attorney in Miami Lakes who speaks Spanish. Mr. Hernandez has over 20 years of experience in helping people get out of debt by means of the bankruptcy law.