Florida consumers overwhelmed by debt understand how difficult it can be to deal with the consequences of their financial situation. From threats of foreclosure to the repossession of personal property, it can be stressful, especially when also experiencing harassment from creditors. By successfully seeking debt relief through bankruptcy, a consumer can also secure relief from the threats and tactics employed by debt collectors.
Most Americans have credit cards and have some credit card debt. While many Florida card holders are able to manage their payments and avoid falling behind, others may find themselves victim to revolving credit and balances that keep going up due to accumulating interest. According to a recent statistic, Americans have about $944 billion in credit card debt, and consumers carry about half of that amount over each month.
One of your obligations after filing for bankruptcy will be to attend the 341 meeting, which some people call "the meeting of creditors." This may sound a bit ominous, but there will be no problem as long as you are well prepared and know what to expect.
Credit cards just might be as American as apple pie or baseball. Nationwide, consumers are carrying more than ever on their credit cards, adding to household debts and laying on the interest rates. Credit card debt can be incredibly stressful for people in Florida, and those who struggle to make their monthly payments may want to consider their options for debt relief.
As a married person, deciding to file for bankruptcy is a move that affects both you and your spouse. Aside from deciding whether Chapter 7 or Chapter 13 bankruptcy is most appropriate, you must also figure out whether filing jointly or separately is a good idea. Answering these questions can be hard, but it is important to do so when seeking debt relief.
The banking behemoth Wells Fargo recently made national headlines after it admitted it wrongly foreclosed on hundreds of homes due to a computer error. The issue might not have been initially addressed, because another computer glitch was recently blamed for hundreds of more foreclosures. For those in Florida who are hoping to stop home foreclosure, this news may be particularly unsettling.
The American elderly are at risk, experts say, and it is not necessarily because of medical issues. A number of factors have come together to create an enormous debt problem for the aging Florida population. With shrinking or fixed incomes, many of these individuals are turning to bankruptcy for debt relief.
Florida consumers may sometimes bemoan their lapse of knowledge when it comes to dealing with complicated financial matters. However, being a financial expert does not protect oneself from the unexpected or unavoidable accumulation of credit card debt. Credit card experts from the popular website NerdWallet recently shared some of their experiences with taking on this form of debt.
Suffering financially is often categorized as just another feature of being an adult. While virtually no one wants to have to stretch their money from paycheck to paycheck, adults in Florida are often fed the message that their struggle is not uncommon, and therefore they are doing all right. According to experts, this is not the reality that people should be living with. Instead, millions of people in America could benefit from pursuing Chapter 7 bankruptcy.