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January 2011 Archives

Old Video Rental Late Fees Could Impact Credit Scores

Hollywood Video and Movie Gallery filed for bankruptcy nearly a year ago. At the time, thousands of movie renters owed the company a few dollars here or there for late fees. Now, the collections company working for the video chain has begun filing negative reports to credit agencies regarding these "outstanding debts."

Florida Churches Join Homeowners in Foreclosure Crisis

Much of the recent news about Florida foreclosures has centered on homeowners facing foreclosure. But little has been said about the impact of the foreclosure crisis on businesses and religious institutions. Recently, the Wall Street Journal reported on the worrying increase in foreclosures on buildings owned by churches.

One Florida District Ranks 2nd in Nation for Bankruptcy Filings

Bankruptcy filings have been on the rise in recent years. During the last fiscal year, one federal district in Florida had the second highest number of bankruptcy filings in the country. Second only to Los Angeles, Florida's Middle District recorded nearly 69,000 chapter 7, chapter 13 and chapter 11 bankruptcies last year.

5 Rising Costs to Watch Out for in 2011 as You Plan Your Budget

Budgeting: It is a word that is on everyone's mind this year from federal and state government officials to individual households. Consumer confidence is at an extreme low during this economic recession as individuals attempt to get control of their finances, save money and reduce debt or even looking for ways to avoid filing for bankruptcy.

Fraudulent Foreclosure Actions Under Scrutiny in Florida

With the recent scandals involving improperly processed foreclosure paperwork, foreclosure judges are taking a hard look at the foreclosure actions that have been filed by attorneys on behalf of lenders. Foreclosure documents must be examined and notarized. When those documents contain errors, people can be wrongly evicted from their homes. That is why foreclosure judges in many states, including Florida, have begun to hold the banks' lawyers accountable for the errors they are finding in foreclosure filings.

Fannie Mae Introduces New Florida Foreclosure Prevention Program

By the time many people consider alternatives to foreclosure, the lender has already begun the foreclosure process. Options like negotiating with the lender become nearly impossible because the foreclosure process is completed before those negotiations have time to produce results.

Number of Florida Bankruptcy Filings Higher in 2010 Than Last Year

According to the Sun Sentinel, numbers given by the U.S. Bankruptcy Court in Miami show that personal bankruptcy filings are 40 percent higher in 2010 than they were in 2009.

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