Approximately 15,000 people were ripped off by three telemarketers who based their operations out of the state. The Federal Trade Commission, the Attorney General's Office of Florida, and an attorney working to get back lost assets claim that these men milked their victims out of around $70 million. The men allegedly sought out victims who were struggling with debt by offering them some sort of debt relief.
The subject of debt is often considered to be a taboo one. Those who are struggling with debt are sometimes too embarrassed to seek help and try to carry their financial burden on their own. But debt is just like any other subject -- one can learn by asking questions. For those in Florida who are worried about the status of their finances, here are a few questions and answers that are often asked about the subject.
The burdens of debt have placed many individuals in Florida and elsewhere under significant financial strain. Those who are constantly dealing with similar struggles could be suffering a lesser quality of life during this period, and many may wish to know more about the available options for relief. When weighing the options, such as Chapter 7 bankruptcy, one might want to use caution, as any misleading information could interfere with achieving a viable solution.
For those who are behind on most or all of their bills, filing for Chapter 7 bankruptcy may provide a fresh start. Except for a few types of debt, such as income tax and child support, filing Chapter 7 can clear the slate of unsecured financial obligations. Some of the filer's property may have to be sold to pay off the debts, but Florida maintains a liberal list of exemptions from the bankruptcy process. In many cases, filing for bankruptcy can stop a foreclosure.
For many families in extreme debt, filing for bankruptcy may seem like the only option. For personal estates, Chapter 7 bankruptcy is the most common type to apply for. However, before you start filling out paperwork, it is beneficial to know whether you even qualify.
The decision to file bankruptcy can be a difficult one to make. On one hand, people must consider how their credit will be affected, how their reputation could be tarnished, and how it may affect how they feel about themselves. On the other hand, it could be a fresh financial start for the client, as it will stop any and all creditor harassment and give the person who files the chance to reset his or her budget. Anyone in Florida who is considering Chapter 7 bankruptcy may want to consider the pros and cons.
For those who have become overwhelmed with personal debt, bankruptcy can be the relief they need to get a fresh start. Some may wonder, however, whether Chapter 7 or Chapter 13 is for them. What are the differences and how should one choose? Florida residents who are considering bankruptcy may want to understand the differences.
Student debt is currently among those types of loans which are not allowed to be discharged in a bankruptcy case. A few lawmakers are trying to change all of that. The two representatives, one Republican and one Democrat, are working together to try and reform the rules of federal bankruptcy so that people can have some type of student debt relief when they file for bankruptcy. This could be good news for many Florida residents.
The choice to file for bankruptcy is made by thousands of Americans every year. Many declare personal bankruptcy in the state of Florida and get a fresh financial start. While some may be considering chapter 7 or 13 as an option, others may wonder what happens when a person files for bankruptcy.
It is tax time again. For many people that means that it is time for a Florida vacation, a new car or some other luxury item that they have waited to splurge on. Others wait until tax time to pay off small debts which they couldn't catch up on during the year. For some, however, tax time means that they will be filing for Chapter 7 bankruptcy.