Many people are riddled by credit card debt. This debt can sometimes be avoided by controlling spending and only using credit cards in extreme emergencies. Medical debt on the other hand is often caused by unexpected illness or injury. These are things that people would obviously like to avoid, but they aren't always able to.
Personal bankruptcy is a legal process filled with difficult but important choices. Debtors must choose wisely how best to manage their remaining assets while coming to terms with the financial consequences set before them. The decision to relinquish the security and comfort of a house is a choice that anybody may need to make, from blue-collar workers to professional athletes.
Although bankruptcy does not currently include the discharge of student loans, some are wondering if law changes could help those struggling with debt after college. For many residents in Florida and across the United States, debt comes from a variety of sources, such as credit cards, loans and house payments. Although bankruptcy can help with most of these debts, due to a 2005 law, student loans are excluded from bankruptcy. A recent report out by the Consumer Protection Bureau and the U.S. Department of Education suggests that Congress should reconsider the law as more and more people struggle to overcome student debt. But some wonder -- would it actually make a big difference?
Every month since September consumer spending in the U.S. has been increasing. And while this may be taken as a good sign that people are once again starting to feel more financially confident since the recession, this uptick in spending may also be linked to people having to rely on credit to pay for every day expenses.
For some, getting out of debt may seem like hard work. But with discipline and a serious plan it is more than possible to manage all that is owed, and actually pay that total amount down to be able to enjoy a future without the financial burden of debt.
While Florida in general saw an increase in the number of bankruptcy filings for 2010, one area recorded one of the highest increases throughout the entire nation.
Most industry experts agree: it's the days from Thanksgiving until the end of December that most people do the most holiday shopping.