If you are a Florida homeowner facing debts that your income does not cover, you may think that bankruptcy is your only way out. Depending on your exact situation, you may be right. However, if your home is your largest asset and your mortgage payment is one of the biggest you make every month, you should check out HARP as a possible alternative to bankruptcy.
Payday lenders are a common sight in Florida, with a loan office seemingly at every other corner. Many residents take advantage of these fast, easy ways to get money when they are strapped for cash. However, borrowing from payday lenders might create more problems in the long run, for numerous reasons.
Debt relief scams are not all that uncommon in Florida. A phone call promising to get rid of overwhelming debt may at first seem like an answer to prayer, but last year, the Federal Trade Commission warned against such imposters.
You have many options when it comes to trying to avoid bankruptcy in Florida. A common option is to consolidate your debts. This can be done with a company that specializes in this process or on your own.
Credit card debt is something many people in Florida deal with. Trying to pay down this debt can be difficult. It can often seem as if it will never happen. However, with a good plan, it is possible for a person to free him or herself from this debt.
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.
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?
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.
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.
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.