Author Archives: Site Administrator
Facing credit card debt
Credit card debt is a problem for many Florida residents. According to the Federal Reserve, the average American household has over $8,000 in debt. Collectively, Americans have credit card debt totaling more than one trillion dollars. For individuals, being unable to pay credit card bills on time can cause a feeling of panic, but… Read More »
Owning a home is possible after Chapter 13 bankruptcy
As of 2017, about one-third of all bankruptcies filed are Chapter 13. This type of plan allows people who meet certain debt limits to pay off the amount they owe to creditors over an extended time period. While bankruptcy may make it easier to pay off debts, it could make renting or purchasing a… Read More »
Credit card delinquencies on the rise nationwide
Several large credit card companies and banks that operate in Florida and other parts of the U.S. are reporting increased credit card delinquency rates. Levels of non-payment remain below where they were during the financial crisis of 2008 and 2009. However, banks reported increased delinquencies in July and August of 2017 after reporting decreasing… Read More »
Ways people may be vulnerable after a credit freeze
Florida residents may have been impacted by the Equifax breach that may make them and others vulnerable to identity theft or other fraud. In response, some may choose to put a freeze on their credit reports. However, this may not offer the level of protection that an individual may believe it does. While it… Read More »
A closer look at debt relief options
Florida residents and Americans in general have reverted back to spending habits last seen prior to the Great Recession. Credit card debt in particular may be worth tracking carefully as interest rates on credit cards are usually higher than on other debts. Carrying balances on those cards could make it harder to save for… Read More »
Should you use retirement funds to cover outstanding debts?
Considerable debt presents many struggles that can leave you feeling at a loss. Although a variety of seemingly beneficial debt relief options exist, you may wonder which could work best for you. You may even have concerns regarding the legitimacy of some of those relief options. Because a lack of information may leave you… Read More »
The problem with accumulating too much credit card debt
In the first quarter of 2017, Americans reduced their credit card debt by a combined $30 billion. However, Florida residents and other Americans put $33 billion back on their credit cards in the second quarter. It is estimated that another $60 billion in new credit card debt will be accrued by the end of… Read More »
How debt consolidation helps debtors
Florida residents who are looking for an easier way to pay off debt may benefit from debt consolidation. A consolidation loan allows an individual to take many debt payments and combine them into one monthly payment that usually carries a lower interest rate. One option to consolidate debt may be to put existing balances… Read More »
How to tell if a debt collector is legitimate
When a Florida resident receives a call from a debt collector, it could be a valid collector trying to collect a debt based on incorrect information. It could also be a scammer trying to dupe an individual into handing over their cash. To determine if a debt collector is legitimate, it is important to… Read More »
Benefits of bankruptcy: Is it right for you?
If you are constantly dealing with overwhelming financial burdens, like many others, you may be in search of relief from the hardships of debt. Suffering through prolonged periods of monetary struggles can have a significant impact on your quality of life, but you may also have some concerns about how a bankruptcy will affect… Read More »