Category Archives: Chapter 13
How to deal with unpaid medical debts
Florida residents may feel anxiety or stress after hearing from a debt collector about an unpaid medical bill. In some cases, those who couldn’t afford to pay their bill originally may not be in a position to pay it after getting that call. Those who are facing a lawsuit over an unpaid medical debt… Read More »
Over half of all Americans keep credit card debt for years
According to a study conducted by Creditcards.com, most adults in Florida and around the country carry credit card debt for two years or more. The study looked at the credit card debt of more than 2,000 U.S. adults and found that half the people with debt had been carrying a balance for at least… Read More »
Equifax changes policy on bankruptcy reporting
Florida residents may be aware that a Chapter 13 bankruptcy normally stays on a credit report for seven years. However, the credit reporting agency Equifax kept Chapter 13 filings on credit reports for 10 years if a person failed to complete the bankruptcy plan. After ProPublica asked Equifax why it reported such information differently… Read More »
Once again, Americans are being saddled with credit card debt
In the wake of the 2008 crash of Wall Street and the American banking system, many consumers across Florida lost their jobs, their home equity and their ability to pay their credit card bills. For many Americans, the Great Recession left them with piles of unsecured debt and the grim prospect of facing repossessions,… Read More »
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 »
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 »