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Florida has highest foreclosure rate

Dealing with debts can be difficult, and the amount you owe can increase all too quickly, sending you into a downward spiral from which it can be challenging to escape. It is a distressing and isolating experience, yet it is one that countless families in Florida go through each year. The important thing to bear in mind is that there is a way out. At first it may seem like the amount you owe is far too much to manage, but with the right guidance, you can explore debt relief options and wipe your financial slate clean.

One of the major concerns when you begin to lose control of your debts is that your assets may be at risk. For example, missing mortgage payments can lead to the foreclosure of your home. In fact, Florida has the highest rate of foreclosures in the country, with 97,739 being completed within the state during a single year.

However, the numbers are dropping, and more and more families each year are escaping foreclosure and finding other ways to settle the amounts owed. One option you might want to consider is bankruptcy. Depending on the size and nature of your debts, you may be able to reach an agreement with your creditors that eradicates a portion of your debt and enables you to repay the rest over a longer period.

 This is not as complicated as it might sound at first. However, if you have any questions or concerns, an attorney may be able to help you. He or she can explain the debt relief options available to you. Furthermore, your attorney may also be able to advise you on how best to protect your home and avoid foreclosure.

Source: Herald-Tribune, "Florida leads in foreclosures, but rate is slowing," John Hielscher, Sept. 9, 2015

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