Filing for Chapter 13 bankruptcy allows Florida residents to keep their property while dealing with their financial situations. A debt repayment plan is required as part of the process. That plan needs to be made and presented in good faith, and sometimes, it is up to...
Month: May 2016
Court approval is required to modify a debt repayment plan
Many Florida residents file for Chapter 13 bankruptcy in order to reorganize their debts and gain a fresh start financially. As part of the process, they are required to prepare a debt repayment plan for court approval. Once that plan is approved, modifying or...
Financial recovery after a Chapter 7 or Chapter 13 bankruptcy
Florida residents often wonder what the impact of a bankruptcy will be on their credit. A Chapter 7 or Chapter 13 bankruptcy will make an impact on your credit, but not all of the results are bad. There are things that you can do in order to hasten the rebuilding of...
What property is not exempt in a Chapter 7 bankruptcy?
Part of the reason that many Florida residents hesitate to file for bankruptcy is that they believe they will not be able to keep any of their property, including their home. However, there is quite a bit of property that those filing for Chapter 7 bankruptcy are able...
Mother faces Chapter 7 bankruptcy due to high medical bills
Most Florida parents would do whatever is necessary to ensure the health and well-being of their children. One mother even underwent surgery for her son after medical mistakes led to his liver failure. Now, she is facing Chapter 7 bankruptcy due to millions of dollars...
Do debt buyers cause a rise in Chapter 7 bankruptcy filings?
Far too many Florida residents have been sued over unpaid debts that companies say they owe. Since the 1990s, such lawsuits seem to have increased as "debt buyers" have used the legal system in an attempt to collect those debts -- in some cases, from people to whom...
Bankruptcy can help when you are behind on house payments
Many homeowners in Florida are still having trouble with paying their mortgages after the housing market collapsed due to the recession. Getting behind on house payments can cause a myriad of issues, such as creditor harassment and the initiation of foreclosure...
Default interest rate must be included in debt repayment plan
Many mortgage promissory notes across the country and here in Florida account for a higher rate of interest if the borrower defaults on the loan. If a homeowner files for Chapter 13 bankruptcy, any debt repayment plan will most likely include mortgage payments at the...
Avoid these common credit card mistakes
When you hear the phrase "credit card mistakes," you probably think of out-of-control spending. However, even people without major credit card debt often use their cards unwisely without ever realizing it. Be sure to educate yourself and avoid the following common...
Credit card debt is on the rise again
During the recession, consumers here in Florida and across the country put away their credit cards and were more conservative with their spending. As the economy has improved, people are once again getting into credit card debt. At last count, there were nearly 1.8...
