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April 2014 Archives

Debt relief available for those with overwhelming student debt

Being forgiven for doing a wrong can feel good. Being forgiven of one's student loan debt totaling tens of thousands of dollars may feel even better in Florida. More and more people are pursuing debt relief by taking advantage of government programs that forgive certain amounts of college debt. This program, however, does pose some challenges.

Bankruptcy could provide some relief to underwater homeowners

It appears that the economy is improving, but many homeowners in Florida have yet to see it. Across the country, nearly 9.1 million homeowners owe more than 25 percent of what their home is worth. Further, many of these families are behind on their mortgage payments to the point where foreclosure is imminent. Filing for bankruptcy could provide homeowners with the time and space they need to make some decisions regarding their homes.

Can you pay off your credit card debt?

Many Florida residents go through periods in which financial strain is a serious concern. For some, these periods will pass, and they will go on to achieve a measure of financial security. In other cases, however, excessive levels of credit card debt can create a scenario in which aggressive debt relief is necessary. For those who would like to pay down their existing debt on their own, the following tips could be of help.

Ways to eliminate the need to file for bankruptcy

Florida consumers who are in the midst of serious financial difficulties are often willing to make a number of changes to regain stability. Many understand that filing for personal bankruptcy is an option, but wish to exhaust every other means of debt relief before giving that option serious consideration. The desire to repay one's debt is admirable, and some consumers are able to attain success through debt relief efforts such as the ones outlined here.

Common myths surrounding personal bankruptcy

When financial strain becomes difficult to endure, many Florida residents consider filing for personal bankruptcy. Unfortunately, a wide range of myths and misconceptions surrounding bankruptcy lead some to postpone filing, while their debt outlook becomes even more dire. Savvy consumers will take the time and make the effort to get to the bottom of these common bankruptcy myths.

Is consolidation the solution for credit card debt?

Very few Florida residents enjoy paying their bills each and every month. When those bills add up to far more than one's income, the task of juggling accounts and obligations can be extremely stressful. For many, high levels of credit card debt make balancing the monthly budget an impossible task. In such cases, the need for debt relief is both pronounced and urgent.

Loan modification may not bring much-needed relief

For many in Florida, economic struggles have hit home. Whether the result of a job loss, unexpected illness or other factors, many individuals and families are struggling to make ends meet each and every month. For those who are homeowners, trying to keep their home is a top priority. Loan modification may offer relief for some, but is not the panacea that many expect it to be.

Could the Affordable Care Act lower bankruptcy risk?

As the deadline for enrollment in the Affordable Care Act passes, many across the nation are wondering how the program might affect the financial standing of those who participate. In many cases, individuals and families are already in the middle of financial hardship brought on by job losses or other setbacks. Having health coverage could make a world of difference in their overall financial outlook. Some in Florida and across the nation believe that the ACA could even lower the rate of personal bankruptcy filings.

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James H. Monroe, P.A.
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Orlando, FL 32804

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