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October 2018 Archives

Who benefits when you avoid credit card bankruptcy?

We know that average Florida citizens do not know much about bankruptcy -- they have no need for the knowledge. If you are like most people, even thinking seriously about filing for this type of debt relief is a once-in-a-lifetime event. Even worse, the laws change often. Even if you had a bankruptcy earlier in your life, there is no guarantee that the rules would be the same if you tried it again now.

Is it true that federal student loans won't be forgiven?

You may have accrued significant student loan debt, figuring it would be no problem to repay it once you began your career. Unfortunately, like many Florida residents, you encountered unforeseen financial troubles and you are having difficulty staying afloat, let alone paying down your student debt. You might be considering filing for bankruptcy, but you've heard that student loans are not eligible for a bankruptcy discharge.

The unfortunate rise in gray bankruptcies

As Florida bankruptcy attorneys, we here at Kingcade Garcia McMaken have noticed that more and more of our clients fall into the senior citizen category. Unfortunately, as reported by the New York Times, this new "gray bankruptcy" trend continues to increase. Whereas seniors such as you accounted for only 2.1 percent of 1991 bankruptcies, you account for 12.2 percent of today's bankruptcies

The benefits of pre-bankruptcy credit counseling

A common misconception that many in Miami have about those who file for personal bankruptcy is that they are simply looking for a way to not have to pay back their debts. This line of thinking assumes that federal bankruptcy laws do not require you to seek other options. In reality, you will find that numerous other alternatives will be presented to you while you pursue your bankruptcy case. One that confuses many of those that we here at Kingcade Garcia McMaken work with as to its need is the requirement to go through credit counseling. 

Choosing the right debt relief option for you

Floridian residents who are in a financial bind may be tinkering with the idea of looking into debt relief options. There are many benefits to different methods of relieving debt, but there can be potential drawbacks as well. A person should be aware of both before making a decision.

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