Chapter 7 and Chapter 13 bankruptcy are often used to help individuals and families get relief from debt. Credit card bills, medical debt and other loans can often be wiped out by these kinds of bankruptcy. But in the last 5 years, consumers have seen the cost to file...
Month: August 2010
Loan Modifications Can Be Difficult to Get in Florida
For many families and individuals, a home mortgage is their largest source of consumer debt. It is also likely to be the highest monthly payment they are responsible for making, and each month more and more homeowners fall behind on those payments. And many of those...
Florida AG Takes Steps to Protect Consumers
In recent years, many companies have popped up calling themselves "debt settlement firms." In reality, the companies often charge a high up-front fee without providing any real service to already cash-strapped consumers. Florida's Attorney General Bill McCollum is...
Homes Vacant During Foreclosure Are Squatters’ Paradise
With Florida foreclosure rates on the rise, especially in Orlando, just about everyone has a vacant house on their block. Or a house that should be vacant. Authorities in Ocoee, a town just 13 miles from Orlando, believe the family of squatters they...
Bankruptcy Contributes to Drop in Household Delinquency Rates
The number of households that are unable to keep up with their debt has skyrocketed in recent years. In fact, the percentage of consumer debt that is more than 120 days past-due has doubled in the past 10 years. On June 30, the Federal Reserve Bank of New York...
Florida Second Only to Nevada … In Bad News for Homeowners
A couple of reports released this week delivered some good news and some bad news to homeowners in Florida. Admittedly, mortgage delinquency rates and home value statistics haven't been anything to celebrate for a while now, but there may be a glimmer of hope. In the...