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November 2017 Archives

Understanding the phases of home foreclosure

Falling behind on a mortgage is a serious concern for many Florida homeowners and others around the  nation. When financial difficulties arise, many residents are justifiably worried about losing their houses through home foreclosure. A real estate adviser recently reviewed the various stages of the foreclosure process and what actions homeowners can take.

Members of Gen X view credit card debt as deterrent to saving

Putting money aside for retirement is the goal of many Florida residents and others throughout the country. Unfortunately, some consumers are unable to save any money each month because of other financial obligations. A recent survey conducted by a life insurance company showed that half of a demographic group could not save for retirement because of their credit card debt.

Understanding credit card debt

Many Florida consumers and others around the country are hesitant to talk about their level of debt. A study by the National Foundation for Credit Counseling found that people would rather share how much they weigh or how much money they have in the bank than give information about their credit score or debt level. This is particularly the case when it comes to credit card debt.

Use debt consolidation wisely when tackling credit card debt

According to recent studies, personal loans are becoming more common among consumers in Florida and in other states around the country. In fact, over the past five years, there has been a 64 percent increase in the number of people in the country who have one. Many individuals are applying for these loans in an effort to do a debt consolidation to reduce credit card debt. A considerable number of these loans are obtained from online financial companies and other peer-to-peer (P2P) lenders.

Students seek debt relief from fraudulent loans

College students in Florida and elsewhere around the country often incur a large amount of debt while working toward their degrees. Unfortunately, some students obtained loans from schools that acted fraudulently. Recently, it was reported that more than 87,000 debt relief applications are pending at the nation's Department of Education.

Credit card debt tops list of millennial concerns

Financial websites frequently survey Florida residents and others throughout the nation. Many surveys are conducted based on generational breakdown. Recently, a financial advice website surveyed millennials about what scared them the most in their lives. According to the survey, credit card debt topped the list.

New application introduced to simplify loan modification process

After the mortgage crisis that affected many Florida residents and others around the nation, several mortgage assistance programs arose. However, many of these programs were cumbersome and complicated. The Federal Housing Finance Agency recently introduced a new program that is promised to simplify the loan modification process for consumers.

When to pay off credit card debt

Many Florida residents and others around the country utilize credit cards as part of their everyday finances. In some cases, consumers are able to pay off balances each month and do not incur high amounts of interest. However, others may find themselves with a substantial level of credit card debt. Experts frequently weigh in on how to reduce or eliminate this type of debt. While the predominant advice is to always use extra funds toward paying credit card balances, it may be more prudent to focus on another area first.

Take these steps before getting a debt consolidation loan

Florida residents may sometimes find themselves in situations where their level of debt feels overwhelming to them. There are several options available to consider to help alleviate the debt. One solution is to consider a debt consolidation loan. As with anything, there are positive aspects of this type of loan. However, it would be wise to carefully consider several tips fully before signing on the dotted line.

Survey shows that credit card debt may be a deterrent in dating

There are a variety of factors to take into account when determining who to date. Opinions on religion, politics and child rearing are often areas of concern. According to a recent study by an online refinancing marketplace, money and finances are also major factors to consider when dating. In fact, the survey showed that over 30 percent of residents in Florida and all over the country considered credit card debt when deciding whether to date a person.

Paul Urich
Orlando Office

Law Office of Paul L. Urich, P.A.
1510 East Colonial Drive
Suite 204
Orlando, FL 32803
Phone: 407-896-3077
Fax: 407-896-3041

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