Author Archives: Site Administrator
Facing foreclosure? Don’t panic, but act fast.
If you are at risk of losing your home in foreclosure, you are likely overwhelmed with feelings of fear, frustration and anxiety. In these situations, it is easy to react in one of two ways: panicking or denial. In either case, these reactions can only make matters worse because they can lead to some… Read More »
Overhauling the credit reporting system
Errors on your credit report can have a devastating effect on your life. They not only affect your ability to get a credit card, a loan or a mortgage, but they can also affect your ability to rent property, go to college and get a job. Disputing these errors, and getting your credit repaired,… Read More »
After a bankruptcy, is buying a home a possibility?
People who file for bankruptcy are often concerned about the implications for their future, and many want to know whether they will ever again be able to secure a home loan. While a bankruptcy does damage your credit score, which is a major part of your application for a mortgage, filing for personal bankruptcy… Read More »
Will debt collectors look for you on Facebook?
Social media has become such an indispensible part of our society that major retailers have active and robust presences on Facebook, Twitter and even Instagram. It is not surprising to get texts from retailers reminding us about sales or alerting us to special offers. Further, it is not uncommon for them to ask you… Read More »
What is charged off debt and do I have to pay it?
One of the most common misconceptions about debt (or at least the payment of debt) has to do with the term “charge off.” Many consumers have received notifications or explanations that a debt may be charged off if it is not paid. This may lead some to believe that if they do not pay… Read More »
Late payments in a Chapter 13 bankruptcy
Florida residents who have filed for Chapter 13 bankruptcy may wonder what will happen if they are late with a payment. In a Chapter 13, reorganized debts are being repaid on a monthly basis to the trustee pursuant to a three- to five-year court-approved plan. The trustee then distributes the payments to creditors. Regarding… Read More »
Why bankruptcy may be advisable
While Florida residents have probably heard that filing for bankruptcy is the worst possible thing they can do for their credit scores, that is not always true. For many people, their credit scores increase substantially after they receive their bankruptcy discharges. In most cases, by the time people file for bankruptcy, their credit is… Read More »
Debtor does not have to pay creditors in Chapter 13
Florida residents with overwhelming financial obligations may think that Chapter 7 is the only way that they can get out of debt. In reality, Chapter 7 liquidation bankruptcy is just one option for those who have more debt than they can afford to repay. Chapter 13 bankruptcy can allow a debtor to repay some… Read More »
Ending deficiency lawsuits filed by creditors
If you have recently gone through a repossession or a foreclosure in Florida, you may believe that your creditor will not come after you any further. Unfortunately, if you owe a deficiency above the value of the car that was repossessed or the home that was foreclosed, the law allows your creditors to file… Read More »
Husband and wife forced to keep old car in Chapter 13 case
Floridians who are considering filing for Chapter 13 bankruptcy protection may want to take note of a recent case decided in the U.S. Bankruptcy Court for the Eastern District of North Carolina. In the case, the debtors were not allowed to surrender their 15-year-old vehicle with high miles to the secured lender. The husband… Read More »