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April 2011 Archives

Florida-based Appliance Direct files for Chapter 11 bankruptcy

Florida-based Appliance Direct recently filed for Chapter 11 bankruptcy, citing a bad economy and the fact that consumers just aren't spending as much on home appliances as the reasons for the company's financial troubles.

Bad economy and lack of financial education causing debt problems

Right now there are more and more people in their 20s and 30s who are struggling with debt. And while the tough economy and high unemployment rates can be partially to blame for this increasing trend, some experts are also saying that it's a general lack of education about finances that is contributing to this high consumer debt.

Florida cities rank high for average consumer credit card debt

A recent study has determined that the average American is still struggling with quite a bit of debt, but that some residents living in Florida actually have a higher than average amount of debt.

Modification process and foreclosure can happen at the same time

A loan modification can greatly help a homeowner who is on the verge of foreclosure. With the modification, monthly mortgage amounts are decreased, and for some it's enough for them to be able to afford living in their home.

Homebuilder cites housing crash as reason for Chapter 7 filing

A once-fast paced homebuilder that started his company in 1956 and over the years has expanded to eight different states - including Florida - recently had to file for Chapter 7 bankruptcy protection. Like many homebuilders over the past few years, business was expanding several years ago, but due to the recent housing crash, Pasquinelli Homebuilding LLC just wasn't able to profitably continue to operate.

Bankruptcy filings may increase in Florida for 2011

As reported earlier this month, Florida is the fourth most economically stressed state in the nation. And while the U.S. Bankruptcy Middle Court District of the state saw a decrease in personal and business bankruptcy filings during the first quarter of 2011, some experts are saying that the lower number represents just a temporary pause and that overall the number of filings for the year will be even higher than the record-breaking number of filings in 2010.

Multiple credit cards can provide debt relief to some

With many Americans having thousands of dollars worth of credit card debt, many are looking for a way to not only pay off what is owed, but to also secure their financial future for the best. For someone who is looking to reduce overall credit card debt and make better purchasing plans, the Island Approach is recommended.

Boat sales down, yacht company files for Chapter 7 bankruptcy

Yacht maker Post Marine Co. Inc., which had been building yachts since 1957, recently filed for bankruptcy. Under this Chapter 7 bankruptcy filing the company will liquidate its assets to pay its creditors.

Florida reports high numbers of foreclosures, unemployment

Even though Florida was not as economically stressed in January as it was during the same time last year, the state as a whole is still struggling after a recession that decreased tourism and the need for new construction.

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James H. Monroe, P.A.
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