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Chapter 13 Bankruptcy Archives

Rapper Lil' Kim seeks Chapter 13 bankruptcy protection

Regardless of income, assets or career, virtually anyone can find themselves drowning under debt. For some people in Florida this may be difficult to believe, but whether its through the slow accumulation of smaller debts or a massive financial disaster, anyone can find themselves with more debt than they can repay. Popular rapper Lil' Kim recently made this point clear when she filed for Chapter 13 bankruptcy.

Do I still have to repay my debt in Chapter 13 bankruptcy?

No one in Florida goes into debt with the intention of taking on more than they can handle, but the future is unpredictable. Jobs do not last forever, medical emergencies can drain savings accounts and emergencies can take both a financial and emotional toll on debtors. Chapter 13 bankruptcy provides a path of partial debt repayment that also creates the opportunity for better financial footing.

Is filng Chapter 7 or Chapter 13 bankruptcy the right choice?

Though many consumers in Florida and all around the country have recently seen some positive changes in the economy, there are families that are still struggling to make ends meet. Some may have experienced a job loss, while others may face a mountain of unpaid bills. While certainly not the first solution, some residents realize that filing for Chapter 7 or Chapter 13 bankruptcy may help them more quickly recover financially.

Get a mortgage after filing for Chapter 13 bankruptcy

Many Florida residents and others around the country have experienced financial hardships during the recent economic climate. Some consumers have elected to file for Chapter 13 bankruptcy in efforts to get their finances back under control. Many assume that someone filing for bankruptcy under Chapter 13 cannot buy a home. However, this assumption is being proved wrong more often today.

Changes made to Chapter 13 bankruptcy forms, other rules

There have been difficult financial situations for many Florida residents and others around the country in recent years. When consumers have evaluated their options and made the decision to file for Chapter 13 bankruptcy or another type of bankruptcy, they expect the process to be rather straightforward. Unfortunately, there are not standard forms used throughout the nation. However, a new form for Chapter 13 filings that should bring about some consistency was put into place on Dec. 1.

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.

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.

Debt consolidation may be good option for consumers

Credit card debt for Florida consumers and others throughout the country is at its highest level in almost 10 years. While many cardholders are carrying higher balances, interest payments are steadily increasing. It is difficult for some to get out of the seemingly unending cycle of trying to pay down balances and get out of debt. Financial experts suggest that debt consolidation may be a valid option for some consumers.

Debt consolidation loans good option for some consumers

Many Florida families and others around the nation are dealing with high levels of debt. Some may struggle to make ends meet each month. They often look for ways to improve their financial situation. If there is a manageable amount of debt, one option may be to transfer all debt to a low interest rate credit card. However, some consumers may seek a debt consolidation loan to alleviate financial stress.

Chapter 13 bankruptcy filings down under Affordable Care Act

Many residents in Florida and around the country are enjoying the benefits of a stronger national economy. One indicator that reflects the economic improvement is the amount of people who file for personal bankruptcy. According to recent reports, the number of filings for both Chapter 7 and Chapter 13 bankruptcy have decreased by 50 percent in the last six years. An analysis by Consumer Reports suggests that a possible reason for this decline could be attributed to the Affordable Care Act, or ACA.

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