Tag Archives: Chapter 13
How creditors collect secured and unsecured debts
Florida residents who are overwhelmed by their financial obligations may have a combination of secured and unsecured debts. Secured debts are loans that are tied to physical property that can be seized if the debtor defaults. The most common examples of secured debts are home mortgages and auto loans. Unsecured debts are credit cards,… Read More »
Giving DEBT debt the once-over
Many Florida residents carry some form of debt. While they may have a negative view of owing money, financial experts are quick to note that there are different types of debt. In fact, sometimes owing money can actually be positive and beneficial to one’s overall financial health. For people who are concerned about their… Read More »
Decision on time-barred debt collections
Florida residents who are in debt may be interested in an impending decision of the U.S. Supreme Court regarding collection actions against time-barred obligations. Specifically, it will determine whether the act of filing a proof of claim in a bankruptcy case for a debt that is beyond the statute of limitations qualifies as a… Read More »
Debt management plans vs. Chapter 13 bankruptcy
Some Florida residents who are overwhelmed by their financial obligations choose to try debt management plans through local nonprofit credit counseling agencies. It is important for people considering these plans to understand how they work. This may help them to better understand what will be required of them as well as whether the plans… Read More »
How to pay off credit card debt
According to an analysis conducted by WalletHub, consumers in Florida and the rest of the nation accrued $34.4 billion in credit card debt from April to June of 2016. WalletHub and MarketWatch estimate that a total of $1 trillion of credit card debt could be achieved by the year’s end. Consumers who are overwhelmed… Read More »
Debt management plans versus bankruptcy
Some Florida residents who have substantial levels of unsecured debts may wonder how they can pay off their obligations. Others may feel that they are insurmountable. Some may benefit by debt management plans through credit counseling agencies. Others may be better off with filing for bankruptcy. When people enter into a debt management plan,… Read More »
Debt consolidation loans and credit card debt
Some Florida residents who have high credit card balances consider getting consolidation loans to pay off those obligations. While this may work for some people, others find themselves in much worse financial shape afterwards. The issue is that some people end up running up their credit card balances again, and they are then left… Read More »
Some information about debt negotiation companies
Debt negotiation companies work with creditors to create affordable repayment plans for people who are overwhelmed by their financial obligations. The companies are strictly regulated by the Federal Trade Commission and can only get paid when they get results for their customers. Florida residents who are seeking debt relief may benefit from knowing important… Read More »
Credit counseling and bankruptcy
When Florida residents encounter severe financial difficulty, they may consider bankruptcy as an option. Bankruptcy is a serious step that can have long-term implications on a person’s finances. Because of this, the United States government requires anyone who files for bankruptcy to complete a program of credit counseling. Bankruptcy credit counseling is divided into… Read More »
Tricks to paying off credit card debt in retirement
One issue that retirees in Florida or elsewhere may encounter is excessive credit card debt. Those who are age 65 or older owe an average of $6,351 with those between the ages of 65 and 69 owing $6,876 on average. To put that number into perspective, it is more than twice as much as… Read More »