Tag Archives: Chapter 13
401k contributions deductible court finds
Florida residents may be able to deduct contributions to a 401k plan even if they hadn’t contributed in the six months before filing for bankruptcy. That is what a judge in Illinois ruled in Oct. 2017. As long as there was no intent to show bad faith, the retirement contributions can be counted as… Read More »
Consumer credit increases in September
In September 2017, consumer credit rose by $20.8 billion, which would be a rise of 6.6 percent annualized. Specifically, revolving credit rose $6.4 billion while other types of debts rose $14.4 billion. The growth in non-revolving credit was attributed in part to increased level of auto purchases after massive hurricanes hit Florida and Texas…. Read More »
Putting phantom debt to rest
Many people living in Florida have to deal with bill collectors. In some cases, the collectors try to collect a legitimate debt in an ethical manner. In other cases, however, the person being contacted has already paid or never owed the debt in the first place. In these situations, the collection efforts are often… Read More »
How to overcome yo-yo debt
Those who pay off their credit cards just to max them out again are referred to as yo-yo debtors. While anyone in Florida can be guilty of this habit, it may be more common among younger people who may not necessarily understand how credit cards work. In some cases, this may be a result… Read More »
Debt management plans
Many people in Florida and around the country struggle with their bills. While they do their best to get caught up, they are not always able to do so. These individuals often experience a great deal of stress, creditor harassment and, in some cases, may even be taken to court by creditors. One option… Read More »
Bankruptcies on the decline but may still increase
People in Florida may be interested to learn that bankruptcy filings in September were down, and this marked a 10-year low for filings over a period of 12 months. However, the economic news is not all positive. There was an increase in Chapter 12 filings, which is a type of bankruptcy for family farms… Read More »
Chapter 13 debt limits
When individuals and couples living in Florida realize that their debt has become unmanageable, they often seek relief in consumer bankruptcy. In bankruptcy, debtors can stop creditor harassment and either seek a complete discharge of debts in a Chapter 7 bankruptcy or enter into a manageable payment plan in Chapter 13. Many debtors opt… Read More »
How to spot errors on a credit report
Florida residents and others may have a lower credit score than they deserve. This could be because of inaccurate information on a credit report. Anyone who sees erroneous information on their report should take steps immediately to rectify the issue. Even if an error doesn’t impact a person’s credit score, it could still make… Read More »
The problem of medical debts for seniors
People who are growing older in Florida may want to take steps to minimize the amount of medical debt that they might face after they retire. There are several things that individuals can do to minimize their medical debts post-retirement. Couples who are older may have to pay as much as $350,000 in medical… Read More »
Iggy Azalea has tax, credit card debt
Florida fans of the rapper Iggy Azalea might have heard that she could be having some financial problems. She owes almost $300,000 in credit card debt and is being sued by American Express. The credit card company reports that this sum is over $250,000 more than the limit on the card. Azalea has also… Read More »