Category Archives: Chapter 13
How a personal bankruptcy affects credit scores
Florida residents who are struggling to cope with overwhelming debt are often reluctant to file for bankruptcy for several reasons. Many fail to pursue this form of debt relief because they believe that filing under Chapter 7 or Chapter 13 will irreparably damage their credit ratings, but a discharged personal bankruptcy can sometimes make… Read More »
Debt collectors often resort to coercion
There are more than 6,000 debt collection companies around the country, and they contacted about 70 million consumers about allegedly unpaid bills in 2016, according to a survey conducted by the Consumer Financial Protection Bureau. Debt collectors most often contact consumers in Florida and elswewhere regarding credit card or medical debt, and an alarming… Read More »
Bank argues that it is not subject to the FDCPA
In Florida and across the U.S., debt collectors and creditors are required to follow different procedures when they are attempting to collect debts that are owed. The practices of debt collectors are stringently regulated under the Fair Debt Collection Practices Act. By contrast, creditors who originate their own loans are able to collect on… Read More »
About medical debt collection practices
Every year, millions of people in Florida and throughout the nation who have debt related to medical expenses get contacted by debt collectors. Aggressive collection tactics are routinely used by the debt collectors, many of whom try to collect payments from the wrong customers. Based on the 17,701 complaints that have been submitted to… Read More »
Credit use climbs in Florida
A report from the Federal Reserve indicates that the total amount of consumer credit reached $15.2 billion in February 2017. This represents a growth rate of 4.8 percent, and it pushed total use of credit cards over $1 trillion. Revolving credit, which includes credit cards, grew at an annual rate of 3.5 percent. This… Read More »
Medical debt and creditor harassment
When Florida residents are coping with high medical bills, they sometimes find themselves the target of aggressive bill collectors. This can be particularly exasperating for several reasons, including the fact that they may be recovering from an illness and that the information that the collection agency has about the debt may be inaccurate. Unfortunately,… Read More »
Getting real about bankruptcy
When Florida consumers are faced with significant debt, bankruptcy is often a consideration. Unfortunately, many people dismiss the idea of bankruptcy due to misconceptions about how it works and the effect it will have on their personal finances. While filing for bankruptcy can be stressful, the consequences of uncontrolled debt, including foreclosures and creditor… Read More »
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 »