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May 2013 Archives

Fraud charges for woman filing for Chapter 13 multiple times

With the financial challenges that many people are facing in Florida, bankruptcy can be a good option for some. However, there are certain rules and qualifications for bankruptcy, to prevent people from abusing the system. The idea of being able to dismiss your debts or restructure them for easier payment can be tempting, but bankruptcy is a tool that is meant to help those who truly need it. In fact, fraudulently filing for bankruptcy can get people in serious trouble.

Personal bankruptcy cases should be accurate in credit reports

When filing for bankruptcy in Florida, people facing financial challenges hope that they’ll be able to start over rebuilding their credit. But that won’t be able to happen if the major credit reporting bureaus haven’t accurately updated credit reports to reflect a bankruptcy debt dismissal.

Appeals courts define IRA bankruptcy exemptions differently

Some people would say that standardized laws regarding bankruptcy exemptions and other rules would be helpful and make the bankruptcy process easier for Florida residents as well as people across the country. If someone moves to another state where bankruptcy law is different, it can cause confusion and even remove the option for people who would benefit from bankruptcy relief. Even judges within the circuit courts can interpret the laws differently.

Florida foreclosures may speed up with passing of bill

Florida continues to lead the nation for foreclosures, as well as being one of the top states with the longest foreclosure process. While the national average for foreclosures is 414 days, our state’s average is 853 days. A bill to expedite Florida’s sluggish foreclosures has just been passed by the Florida House, after several attempts in the last three years to reform a lengthy process that has hurt homeowners and the housing market alike.

Overall debt in South Florida is decreasing

You may have learned the hard way that it's always good to keep your debts down to a minimum. Some types of debt, such as a mortgage or car loan, are often a necessary part of life, but others, particularly from credit cards, are best avoided or at least kept as low as possible. However, the lure of a few thousand dollars in credit and a competitive interest rate is hard to resist for many Floridians. Surely it's okay to spend a few hundred on clothing or home furnishings, and pay it off with low monthly payments, right?

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