Difficult Changes for Bankruptcy Filers in Florida

Bankruptcy filing in Florida is changing, and its even more complicated.  There will be more forms that make the process even more difficult

In a difficult and convoluted process, the changes will create even more headache. Bankruptcy filing is a difficult process, and with the addition of new requirements, even those familiar with the process may receive rejections as a result of mistakes. A single mistake may get your case case thrown out, or bankruptcy may be delayed because of an incomplete form. 

Bankruptcy lawyers are still learning and trying to understand the changes, which filers could find intimidating. Bankruptcy lawyers should have a goal of helping clients, and it is completely necessary for them to have complete grasp of the changes and their purposes in order to fulfill that ideal.

Lawmakers Harsher on Student Debt Scams

Amidst the rise of student debt and increasing worries of a national crisis, lawmakers are being harsher on companies that use unlawful tactics to collect from student borrowers.

 Programs that falsely give debt consolidation or reduction borrowers at a large fee have increased, similar to mortgage scams that take advantage of homeowners. In the last few months, ten student debt-relief co. were targeted by lawyers throughout the nation, a lot of the of the companies are looking at legal action for fraud.

The use of these scams show student debt in the U.S. has increased substantially, and already disrupted the financial status of many across the nation.  When citizens can’t repay loans, it is impossible to fulfill the future that was trying to be built when they spent time going to college. 

Close to 43,000,000 students have approximately 1.2 trillion in student debt. Because of the amount of people finding it difficult to repay loans, there have been many companies offering assistance. 

Florida Heads U.S. in Foreclosures

Florida led the U.S. in home foreclosures this year, reports show.

Of the top 5 states with highest ranking number of home foreclosures. Michigan with 45,00; Texas with 32,000; Georgia with 26,000; and California with 26,000. The combination of the top 5 states ranked for foreclosure consisted of close to half of the foreclosures nationwide.

In September, the foreclosures in the nation consisted of 470,000 (1.2%)  of mortgaged homes throughout the nation, in comparison to 1.6% of mortgaged homes in September of last year.

Florida Foreclosures Increase 12.6%, Tampa ranked 10th in Nation

Rates of foreclosure for Florida properties increased 12.6 percent this October in comparison to September, a small amount larger than the national increase of 12%. This is the biggest jump in foreclosure rates since August ’11. It was no surprise, this is the 5th October that holds an increase in foreclosure rates.

The 12% increase in October is over twice the average 5% monthly increase through the last 5 Octobers. The larger monthly increases throughout certain other states is definitely cause for concern.

The increase in foreclosure may be a showing of issues in current economy, and in some cases shows longer term delinquencies that are eventually resulting in foreclosures.