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August 2015 Archives

Credit card debts force families to delay buying a home

Throughout Florida, many families have debt concerns. It can be difficult to pay the bills and keep food on the table even when you are working full time. At first you may be able to cover some of the expenses with credit cards, but this does not help in the long run if you are unable to keep up with repayments. Before you know it, the debt can become too much to manage and may begin impacting all areas of your life.

Chapter 7 bankruptcy may be the way out you need

Throughout Florida, there are many people living beyond their means. It can be extremely hard to earn enough to pay the ever-rising bills and cover other daily expenses. To make things worse, even if you are managing to stay on top of things, it only takes one disaster to get you into trouble: a sudden illness or injury, the loss of your job or even a bereavement. All of these things can impose significant costs upon you and your family, leaving you struggling to afford even the essentials.

What types of bankruptcy are there?

Throughout Florida, there are many families struggling with debt. It is all too easy to overspend, especially if you are caught off-guard by difficult circumstances. Bereavements, injuries, divorce and any other change to your living situation can quickly rack up expenses. Even if you try to cover some of it with loans or credit cards, this can still lead to problems as interest begins to mount up.

Can foreclosure be avoided?

Many families in Florida have faced debt problems at some point, however minor. Sometimes things get out of hand and expenses mount up faster than you can afford to handle them. Before you know it, you could be buried in debt with the total sum constantly growing thanks to the associated interest rates. Next, creditors may begin chasing you for the amount you owe, and you could even be threatened with the loss of your home.

Credit counseling may be required before filing

In Florida, it is all too easy to fall into debt, and it is hardly surprising that more and more families each year find themselves in this difficult position. Being overwhelmed by financial obligations can be extremely distressing and may begin to take its toll on your emotional well-being. Meanwhile, the strain of living on limited means can have a detrimental effect on your family.

What is unsecured debt?

Almost everyone overspends from time to time and, as many residents of Florida have learned the hard way, it is all too easy to do when you have a credit card. You might make your purchases with the intention of paying them off at the end of the month. However, if you lose track of your expenditure or, for some reason, receive less money that month than you expected, your debts could begin to mount.

South Florida residents overwhelmed by debt

Falling into debt can be devastating, especially if you are normally a very careful with your finances. Sadly, an unexpected event, such as a bereavement, or a serious accident can turn your world upside-down, and the associated expenses may be more than you can handle. It is something that happens to families in Florida every year, forcing them to cover some of the costs by using loans or credit cards.

Chapter 13 may be the bankruptcy solution for you

The cost of living in Florida can be high, so it is no wonder that so many people end up in debt. To make things worse, as soon as debts start to mount up, the interest rates associated with them can quickly cause the totals to mount up. Before you know it, there may be no way for you to keep on top of the required monthly payments. Suddenly your life may be turned upside down as you battle with creditors and look for a way to reduce the amount you owe.

Chapter 7 does not require a repayment plan

In Florida, each year sees more and more families falling into debt. Some manage to climb back out of it by themselves, but others become caught in a downward spiral as the amount they owe grows at an ever-increasing rate. When this happens, some become unsure where to turn. Constant calls from creditors can put pressure on you and your family. Meanwhile, unscrupulous organizations may attempt to con you with ineffective debt management schemes.

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