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May 2012 Archives

Judicial states, like Florida, hit harder by foreclosures

While recently released numbers show an overall decrease in nationwide foreclosures, it turns out that all of the judicial states combined actually saw an increase as opposed to a combination of all of the states where a judge is not required to sign off on a foreclosure. Florida is a judicial state.

Medical debt leads many to seek debt relief through bankruptcy

The cost of medical debt can be financially crippling for many, resulting in a heavy financial burden that is hard to overcome. Even for patients who have some form of insurance coverage, with the high costs of medical care there can still be out-of-pocket expenses that can quickly add up. In many cases, it's not uncommon for these medical bills to lead a person to file for bankruptcy.One woman recently shared her story with a local news station. It was back in 2008 when she was diagnosed with organ failure. From there she was faced with a number of medical problems, which forced her to retire from her job with the Federal Bureau of Prisons. She had worked there for 18 years and is now still months away from qualifying for Medicare.

Struggling with debt? It's best to explore all debt relief options

In today's day and age, with so many people struggling under credit card debts and low credit scores, it is often tempting to sign up with one of the debt settlement, debt consolidation or credit repair companies for what seems like a quick financial fix. However, the truth is that while many of these companies may tout a pain-free process, many of these types of plans can actually do more harm than good, and other debt relief options may in fact really be the best way to go.

What could the decrease in Orlando bankruptcy filings mean?

Following a national trend, personal bankruptcy filings were down for the first four months of the year. Of course, while some are pointing to this as a sign of the downward economic trend finally starting to turn around, others are staying cautious as extended unemployment benefits are expected to be phased out and banks are once again initiating foreclosures.

Tampa hotel files for Chapter 11 bankruptcy

A Comfort Inn in Tampa, Florida, was recently added to a growing list of Chapter 11 bankruptcy filings by a family-owned business. In this most recent filing, the hotel lists assets between $1 million and $10 million and liabilities between $10 million and $50 million.

Mother of 14, Nadya Suleman, files for Chapter 7 bankruptcy

Right now "Octomom" Nadya Suleman is in dire financial straits. She is relying on food stamps and Social Security disability, while also owing up to $1 million to creditors. And, to make matters even worse for the single mother of 14, she is $30,000 behind on rent payments on a home where the owner is also struggling. A foreclosure action on that home is scheduled for next week.

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James H. Monroe, P.A.
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