Author Archives: Site Administrator
Filing fee reimbursement not allowed in Chapter 13 plan
Florida consumers who file for Chapter 7 bankruptcy may have their filing fee waived under some circumstances. However, there is no such waiver in a Chapter 13 bankruptcy. In some cases, debtors may pay their filing fee in installments. One debtor had her filing fee paid by her lawyer, who advanced her $310 with… Read More »
Seniors, debt relief and bankruptcy
For the first time in 2012, households led by people over the age of 50 had on average more credit card debt than those headed by people under 50. Some Florida seniors may still be paying off their student loans, or they might be paying for their children’s education. Those who do not have… Read More »
Unemployment benefits in Chapter 13 bankruptcies
Filing a Chapter 13 bankruptcy petition allows Florida residents to obtain debt relief while retaining their assets. Debtors who take this path must submit a plan detailing how their future income should be used to pay off at least a portion of their debts over a period of either three or five years, but… Read More »
What comes first, divorce or bankruptcy?
One of the main reasons that Florida couples file for divorce is money problems. Divorce is not a fix-all for financial struggles, but can actually bring a host of money-related problems. For this reason, a person considering divorce may also consider the benefits of seeking bankruptcy protection. If you are already struggling with finances,… Read More »
Personal bankruptcy filings soar during tax season
Many Florida residents use their income tax refunds to pay bills or fund a vacation, but others use the money to cover the costs of filing Chapter 7 or Chapter 13 personal bankruptcies. Taking advantage of the fresh start offered by the nation’s bankruptcy laws involves paying filing and legal fees, and many Americans… Read More »
Rising interest rates may result in more debt
As a result of growing confidence in the economy, the Federal Reserve increased the benchmark interest rate by a quarter of a point earlier in March. For many Florida credit card holders, this is going to result in a potentially substantial increase in what they owe. This is because many credit cards have variable… Read More »
Many Florida residents with medical debt are middle class
While many people assume that individuals with medical debt are poor or don’t have insurance, the reality is that increasing numbers of people who owe doctors and hospitals money are in the middle class. While many people do not get needed medical care because they are uninsured or under-insured, individuals still frequently go to… Read More »
Chapter 13 plans that allocate income for retirement
When Florida residents file Chapter 13 bankruptcies, they enter into repayment plans that last between three and five years. This type of debt relief allows individuals or married couples to retain their assets, but most of their disposable income must be applied to their outstanding debts. Chapter 13 payment proposals are reviewed and confirmed… Read More »
Conquering the feelings of shame over bankruptcy
If you struggled each month to pay your bills and often postponed one or more payments until your next paycheck, you didn’t need anyone to tell you that you were in financial trouble. In fact, you may have lived in fear that today would be the day it all fell apart. Then one day,… Read More »
What happens to debt when a person dies
Some Florida residents who are struggling with debt might wonder what would happen if they died while still owing money. This is the case for most people. On average, according to the credit bureau Experian, the average debt without including home mortgages is $12,875. Including mortgage debt, the average is $61,544. While debt generally… Read More »