When a borrower owes a significant amount of money to a creditor or debt collector, that agency will often garnish the borrower’s bank account. It is a drastic step, and one debt collectors are often hesitant to take. There are many Florida laws they must follow when doing so, and…
Category: Bankruptcy
Sometimes, people find themselves in several difficult positions at the same time. This is the case when they have already fallen on financial hardship and are involved in an accident. When this is the case, accident victims often wonder what will happen to their settlement if they are successful in…
Many people understand that when you file for bankruptcy, it does a lot of damage to your credit score. It could cause it to drop over 200 points. Although this is true, there are still many myths surrounding bankruptcy and the exact damage it does to your credit score. If…
Bankruptcy is a great option for those with excessive debts that they cannot pay off. However, bankruptcy is also widely misunderstood. Many think that when you declare bankruptcy, you simply no longer have to pay off your debts. Others believe the only consequences that come from going bankrupt is the…
Filing for bankruptcy is a great option for those who have a crushing amount of debt and don’t see a way out. However, because bankruptcy discharges debt, or allows for a longer period for you to repay your creditors, not everyone can successfully file for bankruptcy. Regardless of the type…
If you have fallen significantly behind on your debts and don’t see a way to pay them off, you’re likely thinking about filing for bankruptcy. This is often an ideal solution for many, as it allows them a fresh financial start and can help them get back on their feet….
Many college and university graduates find themselves in the predicament of leaving school with high student loans and an unfavorable job market. Over time, as more debt is incurred and the student loan still looms, former students may think about turning to bankruptcy to give them a fresh start. Bankruptcy…
When a person is facing the possibility of losing their home, they will most often do whatever they can to keep it, even if it means taking drastic measures. Bankruptcy is one such action that is typically considered a last resort for most people deeply in debt. When in foreclosure,…
According to the Federal Reserve, for the first time in history, the collective U.S. debt surpassed $4 trillion. Pushing this number over the top are factors such as the usual fourth-quarter culprit of holiday spending, rising student loan debt, and automobile financing. High Holiday Spending Since January 1943, the Federal…
