Author Archives: Site Administrator
Bankruptcy and buying a vehicle
Florida residents who are considering filing for bankruptcy to handle their debt and are hesitant to purchase a needed vehicle may benefit from learning that under certain circumstances they might be allowed to do so. However, they should be aware that they would be able to retain the vehicle only if it was a… Read More »
U.S. Supreme Court addresses proofs of claim on time-barred debts
When Florida residents file Chapter 13 bankruptcy petitions, their outstanding debts are consolidated and paid off over a period of three to five years. Debts are included in these plans when creditors submit what are known as proofs of claim, but debts older than five years are not eligible for inclusion under Florida law…. Read More »
Study shows that abuses by debt collection agencies are common
Florida residents who are in debt may be interested in learning about the results of a recent study about debt collectors. The research, which was conducted by the Consumer Financial Protection Bureau, was based off responses from around 2,000 people who had dealt with debt collection agencies. The results of the study showed that… Read More »
Family files for bankruptcy after television home remodel
Florida residents may be familiar with the reality television show ‘Extreme Makeover: Home Edition.” This television program features stories about families that win the chance to have their homes remodeled. While the free house remodels may seem like gifts at first glance, the increased property taxes and electric bills that result from these makeovers… Read More »
Is it better to let a car be repossessed or file bankruptcy?
When Florida residents have car loans they cannot pay back, it can be very stressful. If they allow the car to be repossessed, it may damage their credit for seven years. Choosing to file bankruptcy, on the other hand, may ding their credit for up to 10 years. Luckily, there may be alternatives to… Read More »
Being sued for debt
Florida residents who have debt may be interested in knowing that they can be sued by their creditors. People should also know what they should do when a lawsuit has been filed against them. Individuals may first be notified that they are being sued when they receive a legal complaint and a summons. The… Read More »
Tips for getting rid of debt this year
According to the National Retail Federation, Americans planned on spending an average of more than $900 during the winter holidays. Regardless of how much Florida residents spent on their Christmas shopping, NerdWallet advises adding credit card debt as a major category in their budgets. This may increase the odds that the debt gets paid… Read More »
Dealing with unscrupulous debt collectors
Florida residents should know that it is illegal for bill collectors to harass, threaten or intimidate debtors. Those who are behind in paying bills and are receiving calls from debt collectors do have protective rights. Knowing what constitutes illegal practices in debt collection is important. Under the Fair Debt Collection Practices Act, a debt… Read More »
Breaking free from credit card debt
Many people in Florida carry substantial balances on their credit cards. Some people roll their balances over from month to month, paying high interest rates and dealing with ballooning debts. There are several ways that people can work towards ridding themselves of credit card debts so that they might enjoy financial freedom. People may… Read More »
Many turning to social platforms for help with medical debt
With over a third of 2015 crowdfunding campaigns focused on medical debt, some Florida residents have certainly had to turn to this social platform in a desperate attempt to deal with health care costs. A NerdWallet study looked at this phenomenon and found that only one in ten of the campaigns started actually reached… Read More »