Tag Archives: Chapter 13
What is lien stripping and how can it help save my home?
When you are trying to save your home, lowering the amount you owe on the property is one of the best things you can do. Depending on the circumstances of the situation, this can be a very accessible option for people who have taken out home-equity loans or other types of second or third… Read More »
Court ruling clarifies debtors’ rights in Chapter 13 case
Florida residents may be interested to know that a California court ruled on Sept. 26 that changes made to a Chapter 13 model plan violated bankruptcy law.The debtors in the case argued that there was no need for a minimum term in their cases because there was no objection by either the creditors or… Read More »
Transferring a credit card balance to get out of debt
Many people in Florida use credit cards to pay for items that they cannot afford. Unfortunately, this can often lead to generating a balance on a card with a high interest rate. One of the strategies that some people use to get out of credit card debt faster is by transferring the balance from… Read More »
Chapter 13 and lien-stripping
Florida residents who are underwater on their homes may be interested in a September 2016 bankruptcy case that looked at stripping second liens from homes in Chapter 13 bankruptcy. In the case, the ex-husband of a woman deeded her his interest in the home via a quitclaim deed after their divorce. The woman then… Read More »
How Florida consumers can break the debt cycle
Many people have concerns about paying off their credit card debt, and recent statistics indicate that these fears are justified. According to reports, the average household credit card debt is $5,700, and nearly 40 percent of American households are carrying a balance on their cards. Average credit card balances also vary by age group…. Read More »
Credit card debt after retirement
Most retirees in Florida have long anticipated enjoying an active life in the sun after many years of work. Unfortunately, life circumstances often force seniors to use their credit cards to cover unexpected expenses. As a result, these retirees may find themselves strapped to excessive debt that they have difficulty paying off. In some… Read More »
Pros and cons of filing for bankruptcy
Individuals in Florida who are dealing with significant debt issues may be able to find relief by filing for Chapter 7 or 13 bankruptcy. Chapter 7 allows an individual to liquidate assets to pay creditors while Chapter 13 allows debtors to reorganize their debt. However, before an individual decides to file, it may be… Read More »
Not all debts dischargeable in Chapter 13
When Florida residents are overwhelmed by their financial obligations, bankruptcy may be a good option. The two major forms of consumer bankruptcy are Chapter 7 and Chapter 13. However, it’s important to realize that federal laws impose some limits on the amount and type of debt that can be discharged by a bankruptcy court…. Read More »
What chapter should I file under if I am facing foreclosure?
If you determine that bankruptcy is the best path for you to save your home. The next step is to figure out which Chapter makes the most sense for your needs. Every homeowner’s circumstances are so unique. It really is a conversation that needs to be had with a qualified Florida bankruptcy lawyer. As… Read More »
How elderly people can truly avoid debt collectors
There are many elderly people in Florida who struggle with money. Those that live mainly off of Social Security benefits may be forced to use credit cards to cover emergency expenses or just make ends meet every month. When credit card bills start to add up, an elderly person who has no prospect of… Read More »