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Miami Bankruptcy Law Blog

How the law protects people against collector harassment

If you owe money for things like credit card bills, student loans or medical bills that you haven't been able to pay, your creditors may have turned your account over to a debt collection company. You may feel inundated and even harassed in calls, texts, emails and/or letters by collectors.

In fact, third-party debt collectors have to operate under the terms of the Fair Debt Collection Practices Act (FDCPA). This federal law was designed to restrict the manner in which collectors can interact with debtors. If they fail to abide by the law, debtors have the right to sue the collection company and even individual collectors.

Should you consider a consolidation loan?

You know that you can't stay in debt forever, because the strain that you're dealing with is becoming overwhelming. You've worked hard to get where you are today, but a combination of lost hours at work and large, financed purchases have put your behind on what you owe.

Today, you're looking into debt-relief options. One in particular, consolidation, seems like a good idea to you, but is it? Before you choose consolidation, consider the pros and cons carefully. Here are a few things that you should know.

Coronavirus scare results in moratorium to prevent foreclosures

The coronavirus certainly has scared many people, especially those who need to stay out of work. If they can't work, then how can they pay their bills? That question was heard loud and clear by the government, which has now passed a moratorium on foreclosures.

The March 19 news report states that around 65% of mortgages would be protected against foreclosure in the coming 60 days. Who qualifies? All single-family homeowners who have Federal Housing Administration-backed mortgages. They will now be shielded against eviction or foreclosure until the middle of May.

The right plan can help you get out of debt

Debt relief can make you feel so much better and more in control of your life. It may be difficult to think about how much debt you're in or how you're going to handle it, but good debt relief options make a difference.

Debt relief can mean anything from paying down large bills by getting a second job to working on consolidating your debts. There are many avenues to eliminating debt, many of which are open to you.

Negotiations or consolidations could help you reduce your debt

You have always had bills, but when you lost your job, you found that you could no longer make ends meet. It was a shock to the system, but you quickly got yourself on track. You found a new job, but it pays less. Still, you're doing all you can do to make payments as soon as you can.

Playing catch up is hard, and it can seem pointless when there isn't enough money to go around. However, if you're trying to avoid bankruptcy, you're on the right track. Part of avoiding bankruptcy is being able to eliminate or reduce debts and payments, so you can live more affordably each month. To do that, one thing you can consider is a consolidation loan. Another option is to seek support by negotiating directly with your creditors.

How can you tackle major medical debts?

It's hard to imagine a time when you can't pay your bills. You've always been good about keeping your bills low and your income high. You had a strong savings and had set aside funds to make sure you could cover life's little emergencies.

What you didn't expect was that the last "little" emergency you had would cost hundreds of thousands of dollars. Unfortunately, even with health insurance, you were left with over $10,000 in debt just from your deductible.

Let debt relief techniques get your finances back on track

When you're drowning in debt, the only thing you want to do is to find a solution. You may think that there is no way out, but in reality, there are many different ways to take care of overwhelming debt.

The options for debt relief vary. Some are as significant as a bankruptcy, while others help you pay back what you owe more easily. Here's more about what you should consider to get the relief you need.

Debt-relief techniques can help balance your finances

You never expected to be the person who was struggling with their income. You always worked hard and saved your money. You tried to pay off your credit cards every month, and you always saved up to make sure you'd have money for an emergency.

You could never have expected that a medical emergency would result in your running up your credit cards or being unable to continue working in your field. Today, you work a lower-paying job and have thousands of dollars in debt that you aren't sure you can pay back. What should you do?

What are the 3 most common debt relief options?

There are many different debt relief options that you may want to try if you find yourself over your head in debt. From debt settlement to consolidation or bankruptcy, there are several options that may be open to you.

If you aren't sure about what kind of debt option is right for you, it might be a smart move to speak with your attorney about some of the available debt relief ideas that could work well for your case.

People struggling with medical bills reduced in 2018

You may be surprised to hear this, but according to a Feb. 12 report, the total number of people who are struggling to pay back what they owe in medical bills has dropped during the last decade. Why? Part of the reason is believed to be the Affordable Care Act.

The U.S. Centers for Disease Control and Prevention's National Center for Health Statistics (NCHS) has stated that the number of families struggling to pay medical expenses is only 14% for 2018. In 2011, the total was closer to 20%.

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