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June 2014 Archives

Student loans leave many seeking debt relief after graduation

The desire to attain a college degree is an admirable goal, and research shows that those who graduate from college will earn higher salaries during the course of their careers. The path toward earning a college degree, however, is often paved with high levels of debt in the form of student loans. While there are efforts underway to help reduce these costs, many recent graduates in the state of Florida are facing difficult decisions in the search for debt relief, just when they should be focused on beginning their career path.

Credit card debt could lead to the next economic bubble

Borrowing throughout the United States, including in Florida, spiked by more than 10 percent in April. The increased use of credit cards is an indicator that the economy is rebounding from the 2008 recession. However, it’s also sparking fear that a credit card debt bubble -- much like the housing bubble burst that contributed to the recession several years ago -- is on the horizon.

The escalating credit card debt problem for Americans

As Florida readers may be aware, it seems to be much easier to get into credit card debt than it is to find a way out. There are many reasons why Americans turn to credit cards, from paying for college tuition costs to everyday expenses. Credit card debt is an issue that can potentially affect most demographics, but the main differences lie in how these different groups handle this and other types of debt.

Debt consolidation: Is it the right solution for debt relief?

For Florida readers who are seeking debt relief, debt consolidation programs may seem like an attractive and viable option. However, before turning to this path for debt relief, there are many factors to consider. Consumers may be surprised to know that there are often hidden risks with these operations and they may end up facing an even more severe financial situation.

Understanding exemptions in Chapter 7 bankruptcy

Many Florida residents who are in dire financial straits are unsure of how filing for personal bankruptcy will affect them. Bankruptcy can be complicated, and those who are considering this financial tool should take the time to learn the ins and outs of the process along with what their financial outlook will be once a Chapter 7 bankruptcy is underway. The following information is provided in the hopes of providing insight into the exemptions granted under this form of bankruptcy.

Medical billing changes could aid in working with creditors

When a serious illness or injury occurs, many Florida residents are plunged into serious financial trouble. As the patient and his or her family struggles to come to terms with the diagnosis, treatment plan and immediate medical needs, the bills begin coming in. Making matters worse, many medical bills are incredibly difficult to understand, leaving many with stress to match the pile of bills. Changes in medical billing standards could help patients and their families evaluate the impact that these costs will have on their overall level of consumer debt and make it easier to communicate with creditors.

Medical debt a leading cause of personal bankruptcy

Florida residents who are facing bankruptcy may reach that point in their lives through a number of different paths. For many, the financial setbacks that led to a serious debt crisis were beyond their control and are the result of a spiraling set of circumstances that could neither be predicted nor stopped. Medical debt is a prime example, and illness or injury is a leading cause of bankruptcy filings across the nation.

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

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