The recent economic crisis was tough for many families all over the country, several of them right here in Florida. Many people were forced to turn to their credit cards to make ends meet, but this might have exacerbated their problems. For those who are looking to reduce their credit card debt now that the economy is improving, there are several tips that can help.
The companies that own Brewzzi, a restaurant with two locations in Florida, have filed for bankruptcy. They are Glades Brewery Partners and Palm Beach Brewery Associates. Company representatives have filed a Chapter 11 proceeding in Bankruptcy Court, each seeking to restructure their debt.
One of the top concerns of individuals who are filing for bankruptcy is the damage that will be done to their credit score. Truth be told, bankruptcy does create a negative impact on one’s credit ranking. However, the damage that is done is far from permanent, and with the right mix of dedication and effort, Florida consumers can rebuild their credit quickly once their bankruptcy is discharged.
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.
Student loans continue to be a financial burden for many individuals in Orlando and across the country. Some may turn to bankruptcy or other debt relief options in order to eliminate some of their other financial obligations. This may result in making more money available to pay off student loan debt. Under current law, student loans may not be discharged in bankruptcy except under certain hardship exceptions. However, a Chapter 7 or 13 bankruptcy may prove to be beneficial in some situations.
When one has access to credit but is experiencing financial difficulties, it can lead to serious problems. In some cases, one may be able to pay down the accumulated debt over a period of time. Unfortunately, for many people in Florida, the outpouring of creditors calling, legal actions being taken and the unwarranted threats coming from creditors can lead individuals into a psychological spin where they see bankruptcy as their only option.
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.
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.
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.
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.