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Chapter 13 Bankruptcy Archives

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.

Chapter 13 bankruptcy and other filings up in May 2017

Deciding to file for bankruptcy is a decision made by some Florida residents and others throughout the nation to get a fresh start. There are two main options for consumers seeking relief: Chapter 7 or Chapter 13. While Chapter 7 bankruptcy filings primarily deal with the discharge of certain debts, Chapter 13 bankruptcy is focused on debt consolidation and repayment plans. According to recent reports, total filings for the country have increased since last month as well as the previous year.

Millions lost in phony Florida debt consolidation companies

Many consumers in Florida have experienced financial difficulties in the past few years since the economic downturn. Certain residents considered debt consolidation loans as a means to improve their financial position and repair their credit. Unfortunately, three men from South Florida created even more problems for the people that were already in financial trouble through fake debt relief companies.

Chapter 7 or Chapter 13 bankruptcy -- which debts will remain?

Florida consumers who are facing overwhelming debt may be researching potential remedies for their dilemmas. When considering bankruptcy, one of the common questions relates to which debts cannot be discharged. Although there are specific requirements to determine whether a person qualifies for Chapter 7 or Chapter 13 bankruptcy, the way debts are treated differ considerably between the two options.

Chapter 13 bankruptcy one option for debtors

Bankruptcy laws in some form or fashion have been in place in the United States for over 200 years. Our Constitution even addresses the subject of bankruptcy, and Congress has passed the Bankruptcy Code. Florida and every other state has at least one judicial district established for bankruptcy. While the law details six basic types of bankruptcy, two types are more common for individuals in the midst of financial difficulties. These are Chapter 7 bankruptcy and Chapter 13 bankruptcy.

Qualifying for a hardship discharge in a Chapter 13 bankruptcy

Sometimes Florida residents experience catastrophic events that prevent them from being able to meet their financial obligations. That is usually when they file for either Chapter 7 or Chapter 13 bankruptcy. However, what happens if a tragedy strikes while an individual is already in a debt repayment plan?

Chapter 13 bankruptcy might give you the chance to keep your home

Getting behind on bills can cause emotional and financial distress for any Florida resident. The situation can be made worse if your lender is threatening to take your home from you through a foreclosure action. If you qualify, Chapter 13 bankruptcy could help you keep your home.

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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