Debt Relief

  • The Trap of Debt Consolidation

    ByGoodblatt • Leo Hours Categories Bankruptcy, Debt Relief

    For any consumers in the Orlando area who are struggling with debt, it can be difficult to know where to turn. You may be seeing commercials and advertisements for debt consolidation, which often come with promises to help you get your finances back on track while avoiding bankruptcy. While consolidating debt may be able to help some consumers, debt consolidation is rarely the answer for many Floridians who are hoping to find a solution to significant financial problems. To be sure, debt consolidation is often a trap for many consumers in need who learn the hard way that debt consolidators take money from consumers without ultimately helping those consumers to gain control of their finances. In the end, many consumers who attempt to use debt…

  • I Cannot Get a Handle on my Debt. Is Bankruptcy my Only Option?

    ByGoodblatt • Leo Hours Categories Bankruptcy, Debt Relief

    Probably not.  In many cases, individuals with significant levels of personal debt have multiple options for taking control of their debt.  Although bankruptcy is often one of these options, it usually is not the only option and in some cases, it is not the best option. Below are a few alternate options to bankruptcy to consider. Each has its pros and cons and depending on the details of your case, bankruptcy could be the right choice for you. To make this determination, speak with an experienced bankruptcy lawyer. Consider Settling your Debts with your Creditors Depending on your credit history and the amount of money you owe, you might be able to settle your debt with your creditors without having to pay off the full…

  • Considering Bankruptcy During Tax Time

    ByGoodblatt • Leo Hours Categories Bankruptcy, Chapter 13, Chapter 7, Debt Relief

    If you are like the numerous other Americans who file for bankruptcy protection every year, you may be concerned about the long-term implications of filing. Maybe you worry how you will be able to afford a bankruptcy lawyer, or how long it will take to rebuild after the initial financial crash. But one thing you may not be thinking about is your taxes. Before you file your returns, here is what you should know about bankruptcy and taxes. What happens to my tax refund if I file for bankruptcy? It is important to consider what type of bankruptcy you are filing. In general, however, the bankruptcy court is concerned with making sure your creditors get paid as much as possible, while allowing you the protections…

  • Top 5 Bankruptcy Myths Dispelled

    ByGoodblatt • Leo Hours Categories Bankruptcy, Chapter 13, Chapter 7, Debt Relief

    Deciding to file for bankruptcy is a huge decision. It will impact your life for years and can cause a lot of stress. But if your head is spinning with questions about how to file and what will happen if you do, then take comfort. You are not alone. CNN Money estimates that 72 percent of Americans were stressed about money in December of last year. If you are facing a bankruptcy, your first step should be contacting an experienced lawyer who can guide you through the process and help you decipher between real concerns and unnecessary fears. To illustrate, here are just five of the biggest bankruptcy myths plaguing consumers today. You have to give up everything you own. It is very unlikely you…

  • Will Bankruptcy Keep Me From Getting a Job?

    ByGoodblatt • Leo Hours Categories Bankruptcy, Debt Relief

    Credit affects everything these days. From financing a new car to getting a job, we know that our credit can make a difference. It can be the difference between paying 0 percent interest for a new car or 15 percent or more. When it comes to employment, there is a lot of misinformation on the Web. So, what can you do if you are facing bankruptcy? First, finding an experienced Orlando bankruptcy lawyer is a good place to start. But after that, you may still worry. You need a job, but you also know you cannot continue sinking further into debt. As the walls close in, many consumers are left terrified that bankruptcy will cost them their jobs or make it impossible to find one…

  • Three Ways to Restore your Credit After Bankruptcy

    ByGoodblatt • Leo Hours Categories Bankruptcy, Debt Relief

    When a person finally resolves to file for bankruptcy, it can be quite an emotional journey. Some feel anxiety about the future; others find a long-deserved sense of relief. Whatever the emotions, one question typically hangs over people: How do I restore my credit after this? The answer is pretty straightforward. Time and good decisions are the only true ways to improve credit, whether after a bankruptcy or not. Still, there are a few very simple things you can do to speed up the process and get started on the road to recovery. #1: Obtain new credit Most creditors are reluctant to give credit to those who have filed for bankruptcy protection within the last year. This, however, is not an absolute rule. In fact,…

  • Medical Debt is the Largest Cause of Bankruptcy: Rising Deductibles Will Not Likely Improve the Situation

    ByGoodblatt • Leo Hours Categories Bankruptcy, Debt Relief

    For five years now, the out-of-pocket costs of healthcare have escalated rapidly. Consider a 2014 report by Forbes, where it was explained that out-of-pocket costs went up by 8 percent between just 2013 and 2014 and is expected to continue to rise. In fact, the costs have doubled since 2009. And although more Americans are covered due to the Affordable Care Act, with deductibles increasing, the out-of-pocket cost of care has become so expensive that many Americans simply choose to cut costs by avoiding needed treatment that would not be covered under their plans. According to the USA Today, four out of 10 adults reported foregoing some sort of care due to high deductibles. Therefore, it should come as no surprise that medical debt has…

  • Don’t Take Debts Lying Down: Demand Validation

    ByGoodblatt • Leo Hours Categories Bankruptcy, Debt Relief

    Millions of Americans find black marks on their credit reports each year. Many of those are completely false. Some are not even their debts at all. Others reflect actual accounts but the amounts are wrong or have already been paid. Many people just accept this as part of life, assuming it is too difficult to fight against these negative items. However, a little effort can go a long way. You can fight false collections and inaccurate items reported on your credit before you determine that bankruptcy is the right step for you. The first step is making the creditor prove you owe a debt. Debt Validation When a debt is sold to a third party collector, that collector is then entitled to attempt to get…