Category Archives: Chapter 13
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 »
Growth of problems in credit card debt market
Many Florida residents find themselves in need of a fresh financial start regardless of the broader economic climate. So far in 2017, consumer access to credit has continued expanding, and there have been further increases in credit limits for the most responsible borrowers. Despite some observers suggesting these developments point to a strong labor… Read More »
FTC sues debt collection company that harassed consumers
Some Florida consumers who have paid off debts may have been targeted by collectors who were charging them with debts they did not owe or that the collectors lacked authority to collect. On Aug. 24, a federal judge placed a temporary restraining order on a North Carolina debt collection company that is being sued… Read More »
Changes coming to medical debt credit reporting
Medical debt can be a serious problem for Florida residents. It is estimated that 43 million Americans have delinquent medical bills on their credit reports, but changes to reporting that will take effect on Sept. 15 could help some people, though experts say it won’t help enough. As part of two 2015 settlements with… Read More »
How to manage and reduce credit card debt
Florida residents may be interested to learn that the average household has $5,700 in credit card debt. That number increases to around $16,000 if a household doesn’t pay off its balances in full at the end of each month. The first step in paying off a credit card debt is determining how manageable the… Read More »
Debt settlement versus bankruptcy
Many Florida consumers are seeking debt relief. For a variety of reasons, families and individuals may find that their debt load is simply unmanageable and then decide to consult with a professional about their options. In some cases, they may consider working with a professional debt settlement company. In debt settlement, clients are typically… Read More »
Some older Americans facing financial struggles
Making ends meet on a fixed income can be difficult for Florida residents, and a study from the University of Michigan suggests that many older Americans are finding it especially hard to cope. The school’s Retirement Research Center’s annual Health and Retirement Study, which has polled more than 20,000 Americans aged 50 or over… Read More »
Bankruptcy rule changes in the offing
Beginning on Dec. 1, Florida consumers who plan to file for Chapter 13 bankruptcy will be subject to new rules approved earlier this year by the Supreme Court. The upcoming changes have been contemplated and debated since the Obama administration and will be presented to Congress later this year for final approval and implementation…. Read More »
Dealing with legal action by credit card companies
If a Florida resident gets too far behind on a credit card debt, it may be possible for the credit card company to initiate a lawsuit. However, this does not necessarily mean that a legal battle is on the horizon. In some cases, it may be possible to settle the matter with good faith… Read More »