Author Archives: Site Administrator
Chapter 13 bankruptcy can help save a home
People in Florida who are struggling with serious debts may consider Chapter 13 bankruptcy as a way to obtain much-needed debt relief and protection from the loss of property. Chapter 13 bankruptcy allows people to create a debt repayment plan that stretches over three to five years, allowing people to pay off their debts… Read More »
How bankruptcy affects a person’s credit
Medical debt is the top reason people apply for bankruptcy although there are a number of reasons a person may fall into debt. Some Florida consumers might consider filing for bankruptcy but might be concerned about how it will affect their credit record and how long it will remain on that record. Depending on… Read More »
Medical bills contribute to rising credit card debt
Some Florida residentsmight be struggling with credit card debt because of medical expenses. Medical debt is the number one reason that people file for bankruptcy, and it is not a cost that is easily controlled. Unlike downsizing a residence or cutting back on spending, if a person needs a medical procedure, there is usually… Read More »
What to expect if you file for bankruptcy
It is never easy to make the decisions to file for bankruptcy. In most cases, this decision comes after months of missed or late payments and harassment from creditors. For many consumers, bankruptcy provides them with a chance to start over and obtain a better financial future. It allows you to confront and deal… Read More »
Data says homeowners pay more credit card interest than renters
Florida readers that own homes or are considering homeownership may be interested in data released by NerdWallet that indicates homeowners are more likely than renters to incur higher credit card interest charges. According to the data, renters rack up $537 annually in credit card interest charges while the average homeowner incurs $1,001 in interest… Read More »
Necessary spending tops reasons for credit card debt
Florida credit card holders may be interested in the results of a recent study that challenges the notion that reckless spending is the main reason Americans wind up in debt. According to a survey conducted by CompareCards by Lending Tree, necessary spending to make ends meet is the main reason that people wind up… Read More »
Chapter 13 has new deadlines and streamlined process
Florida consumers who are planning to file for Chapter 13 bankruptcy have some procedural changes to consider. They became effective on Dec. 1, 2017, and they mostly apply to deadlines for paperwork from creditors. Some updates, however, enable a smoother process for debtors because they will not need to file separate motions for the… Read More »
Avoiding running up debt during the holidays
In Florida, it is common for people to go more deeply into debt during the holidays. It may be smarter for people to avoid using their credit cards to purchase gifts and to pay for holiday travel as much as they can so that they don’t get in over their heads. People may want… Read More »
Why people use credit cards so often
According to NerdWallet, the average American household has $15,654 in credit card debt. When interest charges are considered, that debt could be costing Florida residents and others roughly $904 per year. The average interest rate on a credit card is 14.87 percent, and that figure is expected to rise as the Federal Reserve plans… Read More »
Will I lose my property if I file for Chapter 7 bankruptcy?
The decision to file for bankruptcy is not an easy one to make. Even when dealing with overwhelming debt, there are many reasons why you may be hesitant to take this step. What will filing for bankruptcy mean for my life? One reason for avoiding bankruptcy is the fear of losing personal property. However,… Read More »