Category Archives: Chapter 13
Debt management plans vs. Chapter 13 bankruptcy
Some Florida residents who are overwhelmed by their financial obligations choose to try debt management plans through local nonprofit credit counseling agencies. It is important for people considering these plans to understand how they work. This may help them to better understand what will be required of them as well as whether the plans… Read More »
How to pay off credit card debt
According to an analysis conducted by WalletHub, consumers in Florida and the rest of the nation accrued $34.4 billion in credit card debt from April to June of 2016. WalletHub and MarketWatch estimate that a total of $1 trillion of credit card debt could be achieved by the year’s end. Consumers who are overwhelmed… Read More »
Debt management plans versus bankruptcy
Some Florida residents who have substantial levels of unsecured debts may wonder how they can pay off their obligations. Others may feel that they are insurmountable. Some may benefit by debt management plans through credit counseling agencies. Others may be better off with filing for bankruptcy. When people enter into a debt management plan,… Read More »
Debt consolidation loans and credit card debt
Some Florida residents who have high credit card balances consider getting consolidation loans to pay off those obligations. While this may work for some people, others find themselves in much worse financial shape afterwards. The issue is that some people end up running up their credit card balances again, and they are then left… Read More »
Some information about debt negotiation companies
Debt negotiation companies work with creditors to create affordable repayment plans for people who are overwhelmed by their financial obligations. The companies are strictly regulated by the Federal Trade Commission and can only get paid when they get results for their customers. Florida residents who are seeking debt relief may benefit from knowing important… Read More »
Credit counseling and bankruptcy
When Florida residents encounter severe financial difficulty, they may consider bankruptcy as an option. Bankruptcy is a serious step that can have long-term implications on a person’s finances. Because of this, the United States government requires anyone who files for bankruptcy to complete a program of credit counseling. Bankruptcy credit counseling is divided into… Read More »
Tricks to paying off credit card debt in retirement
One issue that retirees in Florida or elsewhere may encounter is excessive credit card debt. Those who are age 65 or older owe an average of $6,351 with those between the ages of 65 and 69 owing $6,876 on average. To put that number into perspective, it is more than twice as much as… Read More »
Court ruling clarifies debtors’ rights in Chapter 13 case
Florida residents may be interested to know that a California court ruled on Sept. 26 that changes made to a Chapter 13 model plan violated bankruptcy law.The debtors in the case argued that there was no need for a minimum term in their cases because there was no objection by either the creditors or… Read More »
Transferring a credit card balance to get out of debt
Many people in Florida use credit cards to pay for items that they cannot afford. Unfortunately, this can often lead to generating a balance on a card with a high interest rate. One of the strategies that some people use to get out of credit card debt faster is by transferring the balance from… Read More »
Chapter 13 and lien-stripping
Florida residents who are underwater on their homes may be interested in a September 2016 bankruptcy case that looked at stripping second liens from homes in Chapter 13 bankruptcy. In the case, the ex-husband of a woman deeded her his interest in the home via a quitclaim deed after their divorce. The woman then… Read More »