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Avoiding Bankruptcy Archives

Why are credit cards bad for your credit?

You probably have at least one credit card in your wallet. Having an emergency credit card that is only used for situations where you need extra money but do not have it, such as a car repair, and which you pay off in full when the bill comes is a good use of a credit card. This is not how most people use them, though. According to Time, credit cards are a dangerous option for most people.

Should you file for bankruptcy?

More and more, it seems like bankruptcy is becoming a much more attractive option for those in Miami that are in desperate need of debt relief. This assumption is no doubt in response to the high number of personal bankruptcy filings seen in recent years. Indeed, data shared by the United States Courts shows that there were 793,932 non-business bankruptcy filings in 2016 alone. In many cases, bankruptcy may be one's best option. Yet is it for you? 

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.

Essential Tips to Avoiding Bankruptcy

Retail shopping has become a common phenomenon in Miami. The widespread mushrooming of shopping malls in every corner can only be attributed to the high purchasing power of the residents. However, it is advisable to cut down on your shopping spree to limit the credit crunch and avoid bankruptcy. By complying with basic guidelines, you are assured of a healthy financial recovery. Nevertheless, most clients still indulge in the random shopping trips only to end up bankrupt. In such a case, applying for a debt settlement program might seem more appealing than filing for bankruptcy. However, it is advisable to enlist the services of a Miami bankruptcy lawyer to guide you through each step.

When is a student loan really a student loan for bankruptcy purposes?

As most people who have invested in their education are already painfully aware, the ability to discharge student loans under the U.S. Bankruptcy Code is extremely difficult. That's because in order to eliminate this type of debt, it must be shown that the loan poses an "undue hardship" to the borrower.

What you can do when debt becomes unmanageable

When you find yourself in dire financial straits, you may start to wonder how it was that you ended up in this predicament. While things may have always been tight moneywise, you are now suddenly faced with mounting debt and a bank account that's rapidly depleting despite your best efforts.

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