Category Archives: Chapter 13
Many turning to social platforms for help with medical debt
With over a third of 2015 crowdfunding campaigns focused on medical debt, some Florida residents have certainly had to turn to this social platform in a desperate attempt to deal with health care costs. A NerdWallet study looked at this phenomenon and found that only one in ten of the campaigns started actually reached… Read More »
DMX files for bankruptcy protection
Florida music fans might be interested in learning that DMX has filed for bankruptcy protection in an effort to save his home from foreclosure. The rap star reportedly owes around $2 million in debt. According to sources, the Chapter 13 bankruptcy petition filed by DMX is his third filing since 2009. The first bankruptcy… Read More »
Using Chapter 13 bankruptcy to save homes
While Florida has largely emerged from the mortgage crisis of the mid-2000s, some people remain in danger of losing their homes to foreclosure. If you are behind on your mortgage and are worried about foreclosure, it is possible for you to be able to prevent it from happening through Chapter 13 bankruptcy. Your situation… Read More »
Student loans can have top priority in Chapter 13 plan
Many Florida residents have a large portion of their total debt load in the form of student loans. These obligations are usually not able to be discharged in a bankruptcy, so Chapter 13 bankruptcy plans may in some cases call for them to be paid off first. The decision to prevent the discharge of… Read More »
Requirements for bankruptcy hardship discharge
A bankruptcy can be a difficult and stressful financial situation for any Florida resident. While a Chapter 13 bankruptcy creates a plan for the repayment of debt using future income, sometimes unexpected events occur that make the plan impossible to complete. In this case, the debtor can file for a discharge of the debt… Read More »
Getting a mortgage while in credit counseling
Credit counseling is a service that can help consumers sort out their money management issues. There are non-profit credit counselors who can show them how to make and adhere to a financial budget, reduce or eliminate their debt and save money for the future. Florida residents who are considering the process may be wondering… Read More »
How debt affects Americans after Fed rate hike
Florida residents who have less than $132,500 in household debt including mortgages have a debt burden below the national average according to a report by NerdWallet. Paying off existing debts may become harder thanks to an interest rate hike by the Federal Reserve. This was just the second such increase since rates were cut… Read More »
Court cracks down on repeat bankruptcy filings
For Florida residents who are struggling with debt, bankruptcy is an option. While it is a serious step with major consequences, for some people it is the only way of effectively managing overwhelming debt. Ideally, debtors will take advantage of the protections offered by bankruptcy to better organize their finances and move forward toward… Read More »
The average household has more credit card debt in 2016
Families in Florida who feel like their finances are worse off each year are not alone. A NerdWallet report shows that U.S. households are holding an increasing amount of debt, and income growth is not keeping pace with the cost of living. This year, the average U.S. household has $16,061 in debt, nearly the… Read More »
Handling debt collectors in Florida around the holidays
When people in Florida owe old debts, they may be targeted by aggressive debt collectors. Debt collectors must follow the guidelines of the Fair Debt Collections Practices Act, including not calling at times that are inconvenient. Inconvenient times include calling before 8 a.m. or after 9 p.m. There is no specific prohibition against debt… Read More »