Author Archives: Site Administrator
Debt consolidation loans and credit card debt
Some Florida residents who have high credit card balances consider getting consolidation loans to pay off those obligations. While this may work for some people, others find themselves in much worse financial shape afterwards. The issue is that some people end up running up their credit card balances again, and they are then left… Read More »
How will a foreclosure impact my credit?
When people are struggling to keep up with their house payments, it doesn’t take long for the mortgage company to start threatening foreclosure. One of the first questions people ask is what is going to happen to their credit rating. This is an important question, but there may be larger questions you should be… Read More »
Some information about debt negotiation companies
Debt negotiation companies work with creditors to create affordable repayment plans for people who are overwhelmed by their financial obligations. The companies are strictly regulated by the Federal Trade Commission and can only get paid when they get results for their customers. Florida residents who are seeking debt relief may benefit from knowing important… Read More »
Credit counseling and bankruptcy
When Florida residents encounter severe financial difficulty, they may consider bankruptcy as an option. Bankruptcy is a serious step that can have long-term implications on a person’s finances. Because of this, the United States government requires anyone who files for bankruptcy to complete a program of credit counseling. Bankruptcy credit counseling is divided into… Read More »
Tricks to paying off credit card debt in retirement
One issue that retirees in Florida or elsewhere may encounter is excessive credit card debt. Those who are age 65 or older owe an average of $6,351 with those between the ages of 65 and 69 owing $6,876 on average. To put that number into perspective, it is more than twice as much as… Read More »
What is lien stripping and how can it help save my home?
When you are trying to save your home, lowering the amount you owe on the property is one of the best things you can do. Depending on the circumstances of the situation, this can be a very accessible option for people who have taken out home-equity loans or other types of second or third… Read More »
Court ruling clarifies debtors’ rights in Chapter 13 case
Florida residents may be interested to know that a California court ruled on Sept. 26 that changes made to a Chapter 13 model plan violated bankruptcy law.The debtors in the case argued that there was no need for a minimum term in their cases because there was no objection by either the creditors or… Read More »
Transferring a credit card balance to get out of debt
Many people in Florida use credit cards to pay for items that they cannot afford. Unfortunately, this can often lead to generating a balance on a card with a high interest rate. One of the strategies that some people use to get out of credit card debt faster is by transferring the balance from… Read More »
Chapter 13 and lien-stripping
Florida residents who are underwater on their homes may be interested in a September 2016 bankruptcy case that looked at stripping second liens from homes in Chapter 13 bankruptcy. In the case, the ex-husband of a woman deeded her his interest in the home via a quitclaim deed after their divorce. The woman then… Read More »
How Florida consumers can break the debt cycle
Many people have concerns about paying off their credit card debt, and recent statistics indicate that these fears are justified. According to reports, the average household credit card debt is $5,700, and nearly 40 percent of American households are carrying a balance on their cards. Average credit card balances also vary by age group…. Read More »