Author Archives: Site Administrator
Rapper Azealia Banks hit with credit card lawsuit
The unsound practice of racking up high credit card debt is not limited to Miami. Hip-hop artist Azealia Banks is being sued in a New York court by a credit card issuer based in California. According to a report, Banks has accumulated more than $130,000 in credit card debt that is now in delinquent… Read More »
Why credit card payments may go up
The Federal Reserve may increase interest rates up to three times a year until 2019. For a Florida resident with a $5,000 credit card balance, that could mean paying an extra $525 per year. Currently, the average interest rate on a credit card is 15.07 percent. Those who have credit card balances are advised… Read More »
Strategies for getting out of debt
In 2017, total student loan debt is roughly $1.4 trillion while the average student loan debt for a college graduate is $34,000. This debt may make it harder for some Florida residents to own a home or start a family. More than half of millennials carry credit balances from month to month, which means… Read More »
Lawsuits from lenders seek over $100,000 from hip hop artist
The flashy lifestyles of rappers might appeal to music fans in Florida, but the glitzy facade could be hiding financial troubles. A lawsuit against Azealia Banks, an East Coast hip hop singer with an apparently promising future, has brought to light that she owes approximately $137,000 to credit card issuers. Court documents show that… Read More »
Pros and cons of a home equity loan
Florida residents who are tying to consolidate their debt may look at getting a home equity loan. In most cases, the interest rate on a home equity loan is lower than that on a credit card balance. However, this is not the only factor that people should consider when choosing to use equity in… Read More »
SCOTUS rules that the FDCPA does not apply to purchased debt
Florida residents who are struggling to cope financially may be familiar with some of the less ethical practices of debt collectors. The Fair Debt Collection Practices Act was passed in 1977 to regulate this nebulous part of the financial sector, but much has changed during the last four decades. The practice of buying tranches… Read More »
Home sweet home: You may be able to avoid foreclosure
Although no two Florida families are the same, many understand what it’s like to face challenging financial situations. You may have simply fallen a little behind in your mortgage payments due to the rising cost of living. Maybe you are facing an unexpected emergency that brought you undue financial hardship. Either circumstance can quickly… Read More »
Companies ask FCC not to regulate ringless calls
Florida residents almost universally dislike marketing telephone calls and robocalls, and a new technology could send calls from credit card companies and debt collectors as well as other parties straight to voicemail. The companies that use the technology have petitioned the Federal Communications Commission in an attempt to avoid regulation under the 1991 Telephone… Read More »
How to make paying medical debt easier
Florida patients who incur medical costs may have the ability to take control of those expenses. For instance, it may be possible for them to ask for an estimated price range for any planned or routine procedures. This may give them the ability to shop around for the best price if there are more… Read More »
Modification allowed for Chapter 13 bankruptcy
Florida residents who have already filed for Chapter 13 bankruptcies may be able to amend their plans by surrendering their vehicles to creditors and allowing any deficiencies to be treated as unsecured claims. The United States Bankruptcy Court for the Western District of Arkansas recently issued a ruling that makes this modification possible. In… Read More »