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Posts tagged "Avoiding Bankruptcy"

These 3 ways to negotiate debt could help your case

If you are worried about your financial situation, something you may feel you have to do is to enter into bankruptcy. The truth is that there are ways that you can avoid bankruptcy. While bankruptcy can be a wonderful solution, it's not always the first thing to turn to.

Manage your finances after bankruptcy

After you file for bankruptcy in Florida, you may think your financial troubles are over. However, it is important to take care so you do not get into another serious financial situation. At Kingcade, Garcia and McMaken, we know how important it is for you to understand how to manage your finances after bankruptcy.

What should I know about payday loans?

Many services are offered as quick fixes for those who are experiencing financial hardships, especially those who are trying to avoid filing for bankruptcy. One such service is the payday loan. You may have heard about these loans. Perhaps you considered getting quick cash to pay your bills or took advantage of a payday loan in the past. You and other Florida residents should understand how payday loans work, as well as the high risks associated with them.

Can you protect your small business from bankruptcy?

Operating a small business in Florida presents you with unique challenges that should be strategically handled as they are encountered to utilize the competencies of your organization and implement optimal solutions. One challenge you may face is not having as large of a financial structure as a bigger company. However, if managed with care, you can take precautions to prevent missteps that could ultimately leave you signing bankruptcy paperwork.

What can you gain through credit counseling?

If you face overwhelming debt in Florida and think that nothing short of bankruptcy can save you, you may want to think again. While there is nothing morally wrong about filing bankruptcy, still it represents the option of last resort and you likely want to avoid it unless and until it becomes absolutely necessary.

Understanding debt settlement programs

Florida residents may want to try other methods of dealing with insurmountable debt before resorting to bankruptcy. This includes debt consolidation and debt settlement. Many of these methods can be effective. However, it is important to know which debt consolidation or settlement methods are reputable and likely to succeed, and which can create more problems that you would expect.

What are the pros and cons of debt settlement?

If you are struggling with debt from overdue medical expenses, credit card debt, mortgages and other bills, you are not alone. The average American household carries more than $6,700 in debt that revolves from month to month. With high interest rates and minimum payments due, it is easy to get left behind when it comes to paying off your balances. Debt settlement is designed to help people pay off their debt and emerge free and clear of financial stressors.

How can I recover financially from a divorce?

Along with the emotional upheaval, many divorcing couples in Florida also experience financial issues after their separation. Whether you're the custodial or non-custodial parent, it's likely that your situation will change drastically once the ink has dried on your divorce decree. If so, Entrepreneur offers the following tips on how to bounce back from financial losses.

To avoid bankruptcy, try negotiating with your creditors

Florida residents suffering under debt do not have to see bankruptcy as their only option. In fact, relief can be as simple as talking to your creditors directly about your situation. Money Crashers explains that there are many lenders who are willing to discuss your debt with you and make adjustments in your favor. You can work out a payment plan that is not so burdensome and takes into account your current financial status. Some lenders will also give you lower interest rates on your payment plans.

Possible alternatives to filing for bankruptcy

As someone who lives in Florida and has a financial situation that has become too much to handle, you may be working through your options and trying to decide whether filing for bankruptcy might help you get the fresh financial start you need. While, for some people, filing for bankruptcy can be a great first step toward rebuilding your finances, the process is not necessarily for everyone, and it may serve you well to explore other options before making your decision. At Kingcade Garcia McMaken, we are well-versed in both the bankruptcy process and bankruptcy alternatives, and we have helped many people figure out what option might best fit their needs.

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