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April 2012 Archives

Advice for Florida residents struggling with credit card debt

Many Florida residents have multiple credit cards. And while this is true for most Americans, it's also true that many rely on these credit cards as a way to get by and make every day purchases. This in turn can lead to serious credit card debt problems.

With changing times some businesses struggle more than others

While the current economic client has been tough on many Florida residents and businesses, it turns out that there are some industries that are seeing huge decreases in revenue due to importing and technological changes. For some, this may end up leading to eventual bankruptcy.

South Florida sees decline in delinquent mortgage payments

One of the nation's largest home loan servicers is seeing a decline in the number of delinquent payments by homeowners in South Florida. In less than a year, those homeowners that were at least 60 days late dropped by a third, according to a spokesperson for Bank of America. The numbers show the decline from 30,000 late homeowners in June of last year to 19,000 this month. According to a federal report from the U.S. Department of Housing and Urban Development, this is a national trend as well.

Student loan debt and lower incomes effecting housing recovery

While student loan debt is surely a burden for a college graduate who is financially struggling, it turns out that this mounting debt is also a burden on the potential recovery of the housing market in Florida and around the rest of the country.

New lender guidelines may lead to increase in Florida foreclosures

In Florida, on average it takes 861 days from the time a person stops paying their mortgage to when the foreclosure process officially comes to an end with the bank taking complete control of the home. However, now with strict guidelines for banks in terms of repossession, the thought is that foreclosures will increase in Florida and across the country.

Certain debts increase for Florida residents

A new report on national credit has revealed that while Florida is improving in certain areas, many residents are still carrying debts, which in turn may end up leading to more people seeking out debt relief solutions.

Former Tampa Bay Buccaneers player seeks bankruptcy protection

Warren Snapp, who played for the Tampa Bay Buccaneers, recently filed for Chapter 7 bankruptcy in South Florida. This personal bankruptcy filing came after a 13 year career with the NFL and a stint on "Dancing with the Stars."

Largest US ice producer considering filing for bankruptcy

Reddy Ice Holdings Inc., the largest packaged ice producer in the U.S., has revealed that it is considering filing for bankruptcy protection and is reviewing its options as it looks to the future. According to a recent article in The Wall Street Journal, the news follows a bankruptcy filing in February by Arctic Glacier Inc., which is the second-largest ice maker and Reddy Ice's main competition.

'Pink slime' controversy leads beef producer to bankruptcy

It appears that public outcry over "pink slime," or the use of boneless lean beef trimmings in ground beef products, has led to national ground beef producer AFA Foods Inc. filing for bankruptcy. With these recent financial struggles, it's anticipated that lay-offs will also end up affecting hundreds of employees across the country who work for the company.

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