Many Florida residents believe that their chances of getting a mortgage are close to zero when their financial situations require them to seek protection from a bankruptcy court. Fortunately, bankruptcy does not have the same stigma that it did in decades past. It...
Year: 2016
Avoiding home foreclosure can be a slippery slope
When finances are strained, making a mortgage loan payment could be difficult. Missing even one payment could begin a slippery slope to avoiding home foreclosure. Most Florida residents will exhaust all of their options trying to save their homes. A lender might...
A trip to the ER could call for medical debt relief
Many Florida residents frequent hospital emergency rooms when necessary. Many choose the hospital that is covered by their health insurance. The problem is that the doctors and other medical professionals that might be required for their care might not be considered...
Florida Supreme Court abolishes home foreclosure time limit
The Florida Supreme Court recently made a ruling that could potentially affect thousands of people across the state. Up until recently, lenders had five years to bring a home foreclosure action. However, the state's highest court recently ruled that the statute of...
Student was able to discharge loans in Chapter 7 bankruptcy
One of the first things that Florida residents discover when they contemplate going to court for debt relief is that student loans cannot be discharged except under certain circumstances. Due to this fact, many people do not even try. However, a woman did ask the...
Minimum payments perpetuate credit card debt
For many Florida residents, the "plastic" in their wallets has helped them through tough financial times when there was just not enough pay check left at the end of the month. When the credit card bills come, they are only required to make a minimum payment. What is...
Impact of Chapter 13 or Chapter 7 bankruptcy on a Florida filer
The economy may be recovering from the Great Recession, but many Florida residents are still struggling financially. Many consumers continue to have trouble just making ends meet. Someone in dire financial straits might be considering filing for Chapter 13 or Chapter...
The Chapter 7 bankruptcy catch-22: How to pay for it
Florida residents who are overwhelmed by debt are often struggling to make ends meet. Even if they want to file for Chapter 7 bankruptcy, many people do not believe that they can afford it. This is the catch-22 that many might consider to be a roadblock that they...
Is reaffirming certain debts in Chapter 7 bankruptcy a good idea?
Some of the debts that Florida residents take on are secured by a piece of property that is considered to be collateral for the debt. An auto loan is one example. When a Chapter 7 bankruptcy is filed, those contracts are essentially broken and the lender ma...
Are you embarrassed about your credit card debt?
Credit cards are a crucial part of establishing credit history and making necessary large purchases. However, the immediate gratification of shopping using credit cards and the reward programs they offer make it easy to spend more than you intended to or even realize....