If you are like many Floridians, you have probably received an offer in the mail for a 0-interest credit card, and you may have found that offer appealing. Before you sign on the dotted line, however, keep in mind that credit card companies are there to make a buck, and they rarely act in a customer's best interest. At the law office of Kingcade Garcia McMaken, we have a firm understanding of how credit card companies operate, and we have assisted many clients who have fallen behind on their credit card payments or otherwise found themselves facing seemingly insurmountable debt.
Florida residents struggling with debt will also commonly find themselves struggling against the harsh and unrelenting harassment of creditors. Unfortunately, the threats that collection agencies make toward you can be endless and frightening, especially since they can easily carry said threats out. Here at Kingcade & Garcia, PA, we want to provide you with all the information possible so that you can stop this harassment in its tracks.
It may seem hard to believe, but over the next month, parents with college-aged children will soon be seeing them packing up their rooms, loading their cars and heading back to campus for the start of the fall semester. This means that the weeks ahead will be filled with seemingly innumerable shopping trips and other preparations designed to facilitate both a comfortable existence and, more significantly, academic success.
Looking back, one of the more shocking aspects of the not-so-distant subprime mortgage crisis was that billions of dollars in loans were ultimately thrown out by courts in collection actions owing to the fact that lenders simply couldn't provide the necessary documentation.
Chances are good the last time you bought anything -- from that tank of gas on the way home yesterday to that cup of coffee on your way into work this morning -- you paid for it with a credit card. Chances are also good that you had multiple card options from which to choose, perhaps combing through your wallet to find some preferred plastic.
This coming weekend, most people will understandably be preoccupied with all things Fourth of July from hosting backyard barbeques and pool parties to attending parades and finding a good spot for fireworks.
It's a truly exciting time of the year for young people throughout Florida and across the nation. That's because many will be -- or perhaps already have -- marched across a stage to receive their college diploma, the culmination of years of hard work and, for many, a major financial commitment.
According to the Federal Reserve Bank of New York, the total amount of household debt here in the U.S. at the end of 2016 was $12.58 trillion. If this seem like an incomprehensible number, consider that just last week this same branch of the Federal Reserve released a report indicating that this number grew to $12.7 trillion during the first three months of 2017, surpassing 2008's pre-recession levels.
Earlier this week, the Supreme Court of the United States handed down a decision in a fascinating case -- Midland Funding LLC v. Johnson -- examining whether debt collectors who attempt to collect on expired debts during the bankruptcy process are violating the Fair Debt Collection Practices Act.
If asked to identify the leading source of money woes for Americans, chances are good that people would list everything from mortgages and student loans to car payments and, of course, credit card debt.