Author Archives: Site Administrator
Prioritizing paying off debt
Florida consumers who are struggling with their obligations might wonder how they should prioritize paying off their debts. For example, a person may have student loan debt, owe money on one or more credit cards, have hefty mortgage payments, and have an auto loan. There are a number of factors that must be considered… Read More »
Don’t close the door on these foreclosure warning signs
If you live in Florida year round, you’ve likely noticed that the state’s economy has navigated the same ebbs and flows as that in most other states. In recent years, economic crisis has thrown many households into downward spirals, leaving homeowners and their families grasping at straws and trying to keep their heads above… Read More »
Avoid high credit card debt with these strategies
Whether consumers in Florida use a credit card as a matter of convenience or necessity in an emergency, they must be mindful of the details of their credit account. Awareness of the interest rate on unpaid balances is essential. This rate usually falls between 13 and 20 percent, which means that interest charges can… Read More »
The impact of interest rate hikes
Florida residents who are able to absorb higher interest rates from the Federal Reserve will still benefit from creating a debt repayment plan. Someone who is currently paying off a $5,000 credit card balance at a 15.5 percent interest rate will take 10 years and four months to do so in full. That person… Read More »
Bankruptcy and investments
Debtors in Florida can use personal bankruptcy, either Chapter 7 or Chapter 13, to manage or settle their debt. However, they should be aware of which of their long-term investments may have to be included in the restructuring of their debt or which may be subject to liquidation. The Employee Retirement Income Security Act… Read More »
The benefits of requesting debt validation
Some Florida residents may get worried after receiving a notice from a debt collection agency. While many people might be quick to pay these bills in an effort to avoid hurting their credit, it’s often better to proceed with caution when a debt collection agency comes calling. Some experts advise consumers to receive proof… Read More »
Feds go after bank and credit card arbitration clauses
People in Florida who have attempted to sue a bank or credit card company very likely could have been thwarted by an arbitration clause tucked into the fine print of their contracts. These terms empower companies to force disgruntled customers into private mediation instead of the courtroom when disputes erupt. If a group of… Read More »
Rule changes mean increased credit scores for some
Rule changes may result in credit score increases for some Florida residents. Credit agencies are now required to update a person’s credit report every 90 days, and new entries must have that person’s name, address and birthday or Social Security number. Civil debts as well as some tax liens may be removed from a… Read More »
Pursuing relief when wage garnishment adds to financial troubles
If you are experiencing prolonged periods of financial difficultly, an inability to repay debts might only be one of the issues you face. Along with the potential of constant calls and letters from debt collectors, there are numerous ways in which you may suffer a lesser quality of life, even if only temporarily. In… Read More »
Give debt the old heave ho with a Chapter 7 bankruptcy filing
If you are one of the many Florida residents drowning in debt, and you lack the funds to get on top of it, you may be sitting in front of your computer looking for relief options right now. You’ve probably seen advertisements for debt consolidation, payday loans, lines of credit and various other band-aid… Read More »