Category Archives: Chapter 13
Ways people may be vulnerable after a credit freeze
Florida residents may have been impacted by the Equifax breach that may make them and others vulnerable to identity theft or other fraud. In response, some may choose to put a freeze on their credit reports. However, this may not offer the level of protection that an individual may believe it does. While it… Read More »
A closer look at debt relief options
Florida residents and Americans in general have reverted back to spending habits last seen prior to the Great Recession. Credit card debt in particular may be worth tracking carefully as interest rates on credit cards are usually higher than on other debts. Carrying balances on those cards could make it harder to save for… Read More »
The problem with accumulating too much credit card debt
In the first quarter of 2017, Americans reduced their credit card debt by a combined $30 billion. However, Florida residents and other Americans put $33 billion back on their credit cards in the second quarter. It is estimated that another $60 billion in new credit card debt will be accrued by the end of… Read More »
How debt consolidation helps debtors
Florida residents who are looking for an easier way to pay off debt may benefit from debt consolidation. A consolidation loan allows an individual to take many debt payments and combine them into one monthly payment that usually carries a lower interest rate. One option to consolidate debt may be to put existing balances… Read More »
How to tell if a debt collector is legitimate
When a Florida resident receives a call from a debt collector, it could be a valid collector trying to collect a debt based on incorrect information. It could also be a scammer trying to dupe an individual into handing over their cash. To determine if a debt collector is legitimate, it is important to… Read More »
Growth of problems in credit card debt market
Many Florida residents find themselves in need of a fresh financial start regardless of the broader economic climate. So far in 2017, consumer access to credit has continued expanding, and there have been further increases in credit limits for the most responsible borrowers. Despite some observers suggesting these developments point to a strong labor… Read More »
FTC sues debt collection company that harassed consumers
Some Florida consumers who have paid off debts may have been targeted by collectors who were charging them with debts they did not owe or that the collectors lacked authority to collect. On Aug. 24, a federal judge placed a temporary restraining order on a North Carolina debt collection company that is being sued… Read More »
Changes coming to medical debt credit reporting
Medical debt can be a serious problem for Florida residents. It is estimated that 43 million Americans have delinquent medical bills on their credit reports, but changes to reporting that will take effect on Sept. 15 could help some people, though experts say it won’t help enough. As part of two 2015 settlements with… Read More »
How to manage and reduce credit card debt
Florida residents may be interested to learn that the average household has $5,700 in credit card debt. That number increases to around $16,000 if a household doesn’t pay off its balances in full at the end of each month. The first step in paying off a credit card debt is determining how manageable the… Read More »
Debt settlement versus bankruptcy
Many Florida consumers are seeking debt relief. For a variety of reasons, families and individuals may find that their debt load is simply unmanageable and then decide to consult with a professional about their options. In some cases, they may consider working with a professional debt settlement company. In debt settlement, clients are typically… Read More »