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Debt Relief Archives

Sun Capital Partners files for Chapter 11 bankruptcy

On Nov. 4, Florida-based Sun Capital Partners filed in the U.S. Bankruptcy court for Chapter 11 bankruptcy protection. Sun Capital Partners is a private equity firm based in Fort Walton that purchased Edwin Watts Golf Shops in 2007. It is hoped that the shops will continue to operate until the Chapter 11 proceeding is concluded. To that end, the company secured a loan from PNC Bank in the amount of $38 million.

Investors pursue scrap funds from anticipated LBO bankruptcy

After leading the $48 billion buyout of Energy Future Holdings Corp. in 2007, Goldman Sachs and KKR are now in the position of fighting over leftover funds of the corporation. The initial investments made by the companies, along with other investment firms like TPG Capital, were based on the premise that gas prices would continue to increase in the future.

When paying credit cards can hurt you

Some Florida residents may wonder when and in what kind of increments they should attempt to pay off their credit cards. Many people dislike carrying these high-interest debts, so when they receive a lump sum, it's natural for some to want to use it to take a noticeable chunk out of their credit card debt. However, paying off cards too quickly or in unrealistic increments can sometimes be a mistake.

Many states have ineffective protection in place for debtors

Florida residents who are dealing with debt may be interested in a report that was released on Oct. 10 by the National Consumer Law Center. The report assessed the mix of state laws called 'exemption laws" that were designed to help families that are struggling to avoid losing everything they own to creditors. The states of Iowa and Massachusetts are the only two that even come close to meeting the basic standards for the protection of consumers from their creditors. Those standards include allowing them to keep $1,000 or more in their bank account and excluding homes, household goods, vehicles and the majority of wages from seizure.

Collection agency fined $1 million for texts

Florida residents who are being harassed by creditors may be gratified to hear that a debt collection agency just got hit with a million dollar fine for a variety of illegal collection practices. The company in question, named the misleading National Attorney Collection Services, Inc., was going out of their way to give people the impression they were a law firm. In both text messages and phone calls, representatives of the collection agency represented themselves as either attorneys or legal assistants.

Rules for successfully managing debt from 35-45

People in Florida and around the nation often struggle to balance their many financial responsibilities. Recent information released by the Census Bureau indicates that the group most in need of debt relief is adults between the ages of 35 and 44, who have a higher debt load than any other age group, averaging just over $100,000 in debt.

Tips for back-to-school shopping

Back-to-school shopping in Florida and across the nation can put a huge dent in the budget, especially for someone buying clothes or sending a student to college. According to the Huffington Post, however, there are several ways shoppers can avoid going into excessive credit card debt as they prepare for the school year. Planning and preparation will help keep finances under control.

Report is critical of student debt relief agencies

Florida students may be interested in a new report on student debt relief agencies that was issued on June 19. The National Consumer Law Center issued the report, which was critical of the education debt relief firms and shined a light on possibly unscrupulous business practices. In response, 23 U.S. senators have signed on to a letter that asks federal agencies to investigate the companies in question.

ABA Defending Liberty Pursuing Justice American Bankruptcy Institute The Florida Bar 1950 CFAWL Criminal Florida Association For Women Lawyers Orange County Bar Association
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