Debt can be problematic at any point in life, but it might be especially troublesome during periods of change. Divorce is just one example of this. Women in Florida might be particularly at risk for developing problems with debt after divorce. The factors that complicate women's financial problems after divorce are often out of their control, but forms of debt relief like Chapter 13 bankruptcy can help.
Forking out money for medical bills can be annoying. After all, many people in Florida are already shelling out significant monthly payments for health insurance, and added bills can really compound financial worries. In some cases, those medical bills can do more than just stress out the recipient -- they can lead to Chapter 13 bankruptcy.
Even in small amounts, debt can be an ever-present stress. From the emotional toll of trying to juggle multiple payments to receiving harassing phone calls from creditors, being in debt is not easy for people in Florida. Getting out of debt can be even harder. If you are struggling under the weight of debt, Chapter 13 bankruptcy can be a viable option. Here are a few things you should know before going down this path.
Health care is both essential and expensive, which can put Florida patients in extremely difficult situations. Some individuals even delay seeking medical attention out of fear of related costs. In some cases this can further complicate matters, as a person's situation might deteriorate and the individual could need even more extensive -- and costly -- care than before. The problem is serious and not going anywhere, and some patients may need to turn toward Chapter 13 bankruptcy for relief.
Getting sick is one of those facts of life that most people in Florida will have to deal with. Unfortunately, so are medical bills. Despite efforts by lawmakers, medical bills are still an enormous burden to the average person and are a significant contributor to personal bankruptcy filings.
Paying off debt can be easier when bills are consolidated into a single, manageable monthly payment. Debt consolidation is nothing new, but it is certainly growing in popularity. Some people in Florida might even be using this method to avoid filing for bankruptcy, but there can be drawbacks to this method.
Receiving a cancer diagnosis is a life-altering event that can impact the rest of a person's life. The long-term effects of surviving cancer -- including the emotional toll of facing such a devastating disease -- can be difficult. However, one of the biggest hurdles facing young cancer survivors in Florida is something called financial toxicity, and it could be pushing some people toward Chapter 7 or Chapter 13 bankruptcy.
Debt is something that virtually every person will have to deal with at least once or twice during their lives. While some consumers handle these debts effectively, many people in Florida struggle with monthly payments for things like their credit cards, auto loans and medical bills. Lower rates of bankruptcy might indicate that consumers are getting better at paying back their debts, but some experts caution that this explanation is not the whole story.
Tax season can be a time of incredible stress if you do not have the funds to cover what you owe the government. As these bills grow, accumulating interest, you may find yourself at the bottom of an impossibly deep hole. Chapter 13 bankruptcy can usually help individuals in your situation, but you also need to determine if your tax debt is dischargeable through this process.
Debt can weigh heavily on the mind of the typical Florida resident, with worrying thoughts intruding on otherwise peaceful activities. Although most people try their best to pay off their debts, the task often feels insurmountable. With growing balances and shrinking disposable incomes, some people would even give up their most beloved activities to get rid of debt. Luckily, a debt repayment plan through Chapter 13 can provide debt relief without anyone having to take drastic measures.