Monthly Archives: March 2025
Credit Card Debt Reaches Record High
Struggling with credit card debt is a common reason that Florida residents file for consumer bankruptcy. While credit card debt is not typically the only debt that bankruptcy filers are dealing with when they decide to file for Chapter 7 or Chapter 13 bankruptcy in South Florida, it is frequently one of the reasons,… Read More »
Can I Make Changes to My Chapter 13 Bankruptcy Plan?
Chapter 13 bankruptcy is the most common type of reorganization bankruptcy for individual debtors, and it requires the debtor to have a repayment plan approved as part of their Chapter 13 case. For most individual debtors (or for a married couple filing jointly), a Chapter 13 case will involve a repayment plan that lasts… Read More »
Personal Income Taxes and Bankruptcy: Things to Consider
Each year as Florida residents begin to think about their income taxes and the filing deadline in April, many of those same residents are also considering the potential issues that may arise with their taxes if they are considering a bankruptcy filing. Whether you have unpaid income tax debt, or you are expecting an… Read More »
Debt Consolidation with a Personal Loan or Personal Bankruptcy?
Personal loans are among the leading ways in which Florida residents and Americans more broadly attempt to consolidate their debt. According to data from the Federal Reserve, personal loans are used frequently to consolidate credit card debt and to pay off medical bills. By the end of 2023, personal loans accounted for approximately 10… Read More »
Facts About Credit Card Debt and Consumer Bankruptcy
While it is difficult to pinpoint with certainty how often credit card debt alone leads to consumer bankruptcy filings, credit card debt is a commonly cited factor in a majority of Chapter 7 bankruptcy cases, as well as in Chapter 13 bankruptcy filings. If you are currently struggling with credit card debt and wondering… Read More »
Can Bankruptcy Clear that Income Tax Debt I Owe This Year?
If you have already been struggling with debt and making monthly payments to creditors, finding out that you owe even more debt in personal income tax can be demoralizing and devastating. In the months around tax time, Florida residents often go to tax preparers or use online software to find out if they can… Read More »
What is an Emergency Bankruptcy Filing?
For most people considering a personal bankruptcy filing, it is important to discuss your financial situation ahead of time with a bankruptcy attorney and to make plans well ahead of filing your bankruptcy petition. In some cases, however, a debtor might need to file a bankruptcy petition extremely quickly in order to have the… Read More »
Can I Avoid Bankruptcy If My Spouse Wants to File?
In a marriage, spouses often share bank accounts and manage finances jointly. As a result, when one spouse begins considering bankruptcy, the plan to file often includes both spouses. When both spouses in a marriage want to file for personal bankruptcy, the US Bankruptcy Code allows them to file a joint petition. In a… Read More »
Is Bankruptcy Different from Other Forms of Debt Relief?
Any Florida resident who is struggling with debt in the New Year may be looking into options for debt relief. When you begin conducting internet searches into debt relief options, you are likely to come across a few general options that include debt settlement, debt consolidation, and bankruptcy. The differences among these forms of… Read More »
