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August 2017 Archives

Can a Chapter 7 debtor discharge recent credit card debts?

If you are a Florida resident considering filing bankruptcy as a way to discharge your debts, you likely have substantial credit card debt that is contributing to your problem. Credit card debt usually is discharged in a Chapter 7 bankruptcy. However, Bloomberg recently reported that under Section 523(a)(2)(C)(I) of the Bankruptcy Code, there is a presumption against discharge of any debt you owe to a single credit card company that was used to purchase consumer goods exceeding $675 or if you made these charges within 90 days of filing bankruptcy.

What is debt negotiation?

If you are a Florida resident dealing with overwhelming debt, you may be looking for alternatives to filing for bankruptcy. You have likely received solicitations in the mail to sign up for a debt management plan that guarantees to consolidate your debts, lower your overall monthly payments, preserve your credit rating and provide you with some debt relief. As FindLaw.com warns, however, many advertised debt negotiation programs, credit repair companies and credit counselors actually are scams.

Should you use debt settlement companies?

If you are having trouble with debt, you may consider using a debt settlement company in Florida. If you do your homework, though, you will see they can be a pretty dangerous choice. At Kingcade & Garcia PA, we want you to explore your options, but debt settlement companies are almost always a bad idea.

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