Author Archives: Site Administrator
Foreclosure can happen to anyone, even millionaires
Foreclosure is not about failure. Losing a home is not limited to the rich or the poor. From the world-renowned actor to the “man on the street,” anyone can experience severe financial problems caused by irresponsibility or circumstances beyond their control. Chad Johnson, once known as NFL star Chad Ochocinco, may have lived a… Read More »
The stress and fear that come with out-of-control student loan debt
If you have significant and unmanageable student loan debt, you are not alone. A growing number of post-secondary education attendees and graduates face the same financial stress. In spite of government programs created to improve management of monthly payments, defaults are at record levels. The number of borrowers defaulting has reached its highest levels… Read More »
Florida homeowners might get relief from secured debt liens
A recent federal appeals court decision might provide hope for Florida debtors seeking to remove the lien of a secured debt by filing for bankruptcy under Chapter 13 of the Bankruptcy Code. Care should be taken by debtors seeking to stop foreclosure by removing a creditor’s lien on real property based upon the court’s… Read More »
Former NFL player’s bankruptcy is discharged
Florida fans of former NFL player Bob Whitfield may be interested to learn that four and a half years after filing for bankruptcy, he has cleared his debts. On July 1, 2011, he filed for Chapter 13 bankruptcy. At the time, he claimed his only income was just under $3,500 in disability while his… Read More »
Debts that can’t be discharged in Chapter 13 cases
While many debts may be discharged through a Chapter 13 bankruptcy, there are some that will not be. In a Chapter 13 bankruptcy, Florida debtors are subjected to a court-approved payment plan that lasts from three to five years with most debt balances remaining after the plan has been completed discharged. Two unsecured debt… Read More »
The Chapter 13 filing process in Florida
The goal of Chapter 13 bankruptcy is to allow someone to get out of debt by creating a repayment plan that will help him or her pay off what is owed. After filing bankruptcy, some debt may be written off, and people may additionally benefit from lower monthly payments. Since paying off debt is… Read More »
The statewide economic impact of home foreclosures
While foreclosure of your home brings uncertainty, options exist as you face a lengthy and stressful process.Florida is one of a handful of states that requires foreclosures to take place before a judge in a courtroom. Defendants can raise legal defenses to the action without the cost of filing a lawsuit. Referred to as… Read More »
Bankruptcy laws can provide a way to a different and better future
At some point or another, a significant percentage of residents in and around the Fort Lauderdale area will experience financial hardships. For example dealing with a job loss, medical emergency or accumulating student loans can quickly lead to the accrual of thousands of dollars in debt. In cases where an individual struggles to make… Read More »
Chapter 13 bankruptcy repayment plans
Florida residents who are considering Chapter 13 bankruptcy are sometimes confused about how their financial obligations will be consolidated into a three- to five-year repayment plan. Bankruptcy fees and most outstanding taxes are considered priority debts, and they take precedence over secured debts like car loans and mortgages. Unsecured obligations like credit cards and… Read More »
Required education for filing bankruptcy
For many years, people in Florida and around the country could file for bankruptcy without being required to go through any process that would educate them about their financial options. This changed in 2005, when laws were passed that made credit counseling from an approved agency prior to filing mandatory. People are now also… Read More »