Day archives: November 9th, 2018

The Benefits Of Filing For Bankruptcy

The decision to file for bankruptcy never comes easy for anyone. It is usually a decision that gets made from years of financial hardships that are not easy to overcome without a huge help. For some, the benefits of bankruptcy are worth the process. Below are some of the main benefits of filing for bankruptcy. If you decide to go through with the process, hire a reputable bankruptcy attorney in Erie, PA, such as the one found at www.mcelrathlaw.com for help.

Trigger An Automatic Stay

The main relief most filers get right away after filing for bankruptcy is the automatic stay. This is what prevents any of your creditors from taking further actions to try and collect debts from you. They will no longer be able to sue you, call you, send you letters in the mail or try to repossess your belongings.

Discharge Your Debts

Depending on your situation and the type of bankruptcy you file, you may be able to get most or all of your dischargeable debts canceled. This means that any debts of yours included in your bankruptcy filing will not be owed by you any longer. You will be free and clear of them. Bankruptcy filers are free of the debts weighing them down and will be able to start fresh financially.

Keep Assets

If you are able to use some of the exemptions included in the bankruptcy process, you will be able to keep most of your property. This means you could file and keep your cars and your home after the process is finished.

A bankruptcy will have a negative effect on your credit. Once your bankruptcy is filed and discharged, it will remain on your credit report from seven to ten years. However, because most filers get their debts forgiven during the process, they will be able to start rebuilding their credit right away. These are just a few of the top benefits filing for bankruptcy can offer someone drowning in debt. All factors should be taken seriously because the process is a complicated and emotional one.

Top Trends in Texas Commercial Rea Estate

In 2017, Texas led the country in commercial real estate development according to a report issued by NAIOP, the Commercial Real Estate Development Association. The sector is responsible for nearly 380,000 jobs throughout the state both in construction and in ancillary support industries. Buying or selling commercial real estate in the Lone Star State can be a very complex transaction, so a commercial real estate lawyer Austin TX can be a valuable resource.

Top Issues for Commercial Real Estate in Texas

A number of issues of concern are emerging for Texas developers who specialize in commercial real estate. Among them are:

• Climate Change

For the last six consecutive years, sea levels have risen. The sea level today is a full three inches higher than it was in 2003. Coastline flooding has also increased between 300 and 900 percent in the last half century.

Commercial developers in the Lone Star State’s coastal cities such as Houston and Galveston are well aware of this trend. They’re making changes in the ways buildings are designed that offer some measure of flood protection; these changes include setting minimum elevation heights and relocating electrical infrastructure out of building basements.

• The Urbanization of Suburbs

Millennials are a demographic group that’s 75 million strong. Many Millennials are starting families now and moving to the suburbs, but they still keep many of the habits of their youth. Among those preferences is a distaste for driving. In order to be appealing to Millennials, suburbs will need to be refurbished to include retail, dining and entertainment centers that rival the amenities that can be found in urban neighborhoods.

• Shifting Consumer Preferences

Consumers have embraced e-commerce enthusiastically, and that love affair is likely to grow more torrid over the next decade. That means that businesses will come to rely less and less upon brick-and-mortar stores and those great mall temples in which those stores cluster. Construction on shopping centers hasn’t stopped: In 2017, Bloomberg News reports, builders spent $1.6 billion constructing new malls. You can expect that spending to get less and less, though, as e-commerce grows stronger and stronger.