Recent Blog Posts
Most credit card holders do not pay off their balances
It is not uncommon for Florida consumers to have a lot of credit card debt. In fact, the majority of revolving debt in the United States comes from credit cards. Around 38 percent of households in the U.S. have credit card debt with an average unpaid balance of $15,310. Credit card debt tends to… Read More »
People are struggling with medical debt
According to a survey by the Kaiser Family Foundation and The New York Times, people in Florida and throughout the country are struggling with medical expenses even when they have health insurance. The study found that about 20 percent of Americans who had health insurance were having trouble paying their medical bills. Among people… Read More »
Amending a Chapter 13 plan after confirmation
Florida debtors who have filed for Chapter 13 bankruptcy may not be able to amend their plan after its confirmation unless they can demonstrate that their financial situation has significantly and unexpectedly changed. A North Carolina bankruptcy court ruled that a couple could not surrender their car to the lender after they had filed… Read More »
Filing for bankruptcy before a divorce
If you are considering a divorce, you will reach the point where you must consider how to handle your assets. Additionally, you will have to decide how your debts will need to be handled. Divorce is one of the most common reasons why someone files for consumer bankruptcy. Many times, unknown debts become revealed… Read More »
Getting a new mortgage after bankruptcy
If a Florida homeowner has filed for bankruptcy, it may be possible to refinance an existing mortgage or obtain a new one after the case has been resolved. Those who wish to obtain a new loan from either Fannie Mae or Freddie Mac will have to wait two years after the dismissal date if… Read More »
Learning more about bankruptcy
Filing for bankruptcy may make it possible to have debts reorganized and repaid over time or discharged completely. However, there are limitations to such a decision that Florida consumers should know about before deciding to file for protection from creditors. For instance, certain debts such as student loans or back taxes owed generally cannot… Read More »
Bankruptcy and protecting your home: Part II
Even though bankruptcy may be the best option for countless Florida families struggling with debt, many avoid the idea all together – often because of the mistaken belief that they will lose everything they own, including their home. However, bankruptcy is not meant to be a punishment, but a new start. In fact, thanks… Read More »
Bankruptcy and protecting your home: Part I
Unfortunately, there are many people who, to no fault of their own, fall behind on home payments and ultimately face foreclosure. Whether you are having a hard time paying your mortgage due to a medical emergency, unexpected job loss or any other reason, it is important to remember that you may have many options… Read More »
Southern states have highest rates of bankruptcy
Florida is not one of the top 10 states for bankruptcy filings, but several nearby states are. According to an analysis by NerdWallet, states in the south have some of the highest bankruptcy rates in the country. They have remained high in some southern states even as nationwide bankruptcy rates have fallen to their… Read More »
Being proactive may prevent bankruptcy
While bankruptcy may quickly eliminate or reduce an individual’s debt load, it is not an easy way out for Florida residents who are struggling to pay their bills. Those who file for Chapter 7 bankruptcy will see it remain on their credit report for an entire decade. However, it may be possible to avoid… Read More »