Bankruptcy can be very helpful, but many people worry about the impact of seeking financial relief. They know that bankruptcy can force the closure of their revolving lines of credit. They may also be worried about their eligibility for credit in the future. For many...
If you are facing debt in Florida, understanding the two types of loans is paramount. The difference between secured and unsecured debts impacts your risk, payment terms and options under bankruptcy. Collateral as the key distinction Secured debts involve collateral....
Nobody plans to fall ill or get seriously injured. And even with health insurance, co-pays and other out-of-pocket expenses can run into the thousands or tens of thousands of dollars. These unexpected medical bills are one of the most common causes of financial...
Realizing that you can’t keep up with payments on your credit accounts may spur you into taking action. One possible option is filing for bankruptcy, which is a court-based option for taking control of your finances. Many people who file for bankruptcy look into how...
Car loans are starting to become a problem for some subprime borrowers. While borrowers with the highest credit scores are not defaulting on their loans as often, subprime borrowers certainly are. In fact, some reports from Reuters claim that October saw an increase...
There are several different types of bankruptcy, and they each impose different requirements on filers. Chapter 7 bankruptcy is one of the more popular options. Chapter 7 bankruptcy is a relatively rapid form of bankruptcy that people can complete within a few months...
Most people live with at least a small amount of debt. If you have a mortgage, that is a financial obligation, so you are technically in debt to your mortgage lender. Even if you just use a credit card to pay for gas or other minor purchases, it is a debt that you...
In Florida, when you file for bankruptcy, two terms shape what you keep and what you may lose — exempt property and nonexempt property. Exempt property includes things the law lets you protect, while nonexempt property means creditors may sell them to get paid....
If you are struggling with debt, bankruptcy can be your lifeline. In Florida, there is no limit to how many times you can file for bankruptcy. Regardless of your reason, you may file as many times as needed. However, there are time limits that require you to wait...
In Florida, the state’s homestead exemption provides powerful protection for your primary residence if you file for bankruptcy. This constitutional safeguard allows many individuals to get debt relief without the fear of losing their family home. Understanding how it...
