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May 2018 Archives

How Chapter 7 bankruptcy influences student loans

It is widely understood that among the assets not eligible for discharge in a bankruptcy filing, student loans are among the most cumbersome. Many Florida students will enter the work force with considerable debt after several years of post-secondary education, but many in dire straits forgo the option of Chapter 7 bankruptcy because they believe they cannot expunge their student loan in this way. That is not entirely true in every case; in some situations, student loan can be discharged through the bankruptcy process. 

Attorney will explain Chapter 13 and Chapter 7 bankruptcy

In Florida as elsewhere, federal bankruptcy law ultimately governs the matter through the Bankruptcy Code contained under Title 11 of the United States Code. Federal law provides for the various remedies. For consumers, the choice is basically between filing a Chapter 7 bankruptcy or a Chapter 13. One area where Florida law applies is in the providing of specified exemptions that allow the bankruptcy filer to keep assets under the stated maximum allowance.

Tips for paying off credit card debt

Many Florida residents and other consumers around the country frequently use credit cards for purchases. Some use them only for big ticket items so that they may earn points or rewards, while others must use them for everyday or unexpected expenses. Regardless of how they use them, cardholders have now amassed over $1 trillion in credit card debt, according to the latest reports. Experts at an online consumer financial website have offered several ways to reduce that debt.

As interest rates climb, credit card debt may skyrocket

Credit cards are an unavoidable part of life for many in Florida. Whether used to build credit or bridge the gap between paychecks, these tiny rectangles have undoubtedly become part of everyday life. Unfortunately, so is credit card debt, and for some people it could be getting worse.

How Chapter 7 mitigates credit card debt

Debt is a reality of life for many American households. Florida residents will likely agree that modern life demands expenditures, sometimes beyond what is feasibly affordable. In this case, debt (especially insidious types like credit card debt) can accrue rapidly and leave an individual or family in a precarious financial position. Thankfully, for those facing serious debt, Chapter 7 bankruptcy is a viable option to help ease that burden.

Risk of credit card debt when using cards to build credit score

A good credit score is ideal to have in a variety of circumstances, from leasing a car to renting an apartment. Many people recommend getting a credit card as a good first step to building credit. However, many credit card companies in Florida and across the country encourage spending on these cards, and people who are not careful can end up with credit card debt.

Handling credit card debt: Balance transfers

Debt can be one of the most stressful burdens an individual or family can carry. Here in Florida, the average family carries a considerable amount of debt, including mortgages, medical expenses and the most insidious of all: credit card debt. Thankfully, there are a variety of ways for residents to handle that debt creatively, from renegotiating interest to Chapter 7 bankruptcy, that can help make debt manageable.

Retaining assets through a Chapter 7 bankruptcy

Bankruptcy is often seen in popular culture as a last-resort option for people who have been careless with their money. In reality, as some Florida residents can attest, insurmountable debt can come from a variety of sources, including unexpected costs like medical bills. Regardless where the debt comes from, Chapter 7 bankruptcy is a viable solution for those who cannot carry debt further. However, many people wonder whether it is possible to weather a bankruptcy without losing certain assets. It is.

Clarification on wage garnishment and lump sum payments

There are many indicators that the economy is moving in a positive direction for Florida residents and across the nation. However, some consumers may have not experienced the improvements and are still struggling financially. Situations may have arisen where borrowers have been unable to repay their creditors. In these circumstances, a wage garnishment may occur.

Report shows amounts of credit card debt, number of cards

Many Florida residents and others around the country frequently use credit cards for their purchases. There are a variety of ways consumers choose to utilize their cards to fit their budgetary needs. However, with credit card debt now exceeding $1 trillion in the nation, it is clear that those carrying balances may have difficulty eliminating them.

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Paul Urich
Orlando Office

Law Office of Paul L. Urich, P.A.
1510 East Colonial Drive
Suite 204
Orlando, FL 32803
Phone: 407-982-3763
Fax: 407-896-3041

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