South Florida Bankruptcy Filings Decrease Slightly Over Summer, Ramp Back Up for Fall

South Florida residents are seeking bankruptcy more often to deal with the long-term effects of unemployment, foreclosure and debt.

2012-12-13

December 13, 2012 (Press-News.org) South Florida's struggling citizens filed fewer bankruptcies in the summer months, but now that the kids are back in school, bankruptcy filings are on the upswing again, at least according to data compiled by the South Florida Sun Sentinel and the South Florida Business Journal.

October saw considerably more bankruptcy filings in the Broward county, Palm Beach county and Miami-Dade county areas than had been filed in September.

Legal experts blame the uptick in filings on several factors, among them:
- Lenders resuming foreclosures after the self-imposed moratorium brought about by the "robo-signing" scandal that revealed unscrupulous foreclosure practices by some of the biggest banks in the country
- Parents now able to think about their own finances again after being solely focused in August and September with getting their children equipped for a new school year, purchasing supplies, clothes and paying tuition
- Still struggling companies going through another round of layoffs before the holiday season
- Record high rates of credit card debt, student loans, college graduates unable to find work and uncovered medical expenses

How will bankruptcy help?

Since many of the newest round of bankruptcy filings in the South Florida area are fueled by lender recommitment to the foreclosure process, most of those filing this time around are homeowners who find themselves losing a lengthy battle to save their homes.

In many instances, a Chapter 7 bankruptcy filing is a very effective tool for someone plagued by debt who wants to keep their home. In a Chapter 7, the debtor receives immediate debt relief from credit card debt, medical bills and other non-secured debt, which often allows the debtor to have the extra cash necessary to catch up on their mortgage.

There are some things that Chapter 7 - or any bankruptcy filing, for that matter - cannot do: it does not wipe out student loan debt, tax obligations less than three years old or child support payments, but it does make the payment of mandatory expenses easier because it frees up disposable income that would have otherwise gone to make payments on now-discharged debt.

Regardless of whether you are a homeowner or not, if you are struggling with debt, there are options available to you. In addition to serving as a resource and guide through the bankruptcy court system, an experienced bankruptcy attorney can educate you about the best debt relief option for your unique situation, so contact one in your area today.

Article provided by DiTocco Law Group, PLLC
Visit us at www.ditoccolaw.com/

ELSE PRESS RELEASES FROM THIS DATE:

Kansas Sees Reduction in Car Accidents Due to Graduated Licensing Laws

2012-12-13

A multitude of strategies and smart public policies can help keep our highways safer for drivers, passengers, pedestrians and cyclists. From smart highway design and drunk driving enforcement, to vehicle safety standards and distracted driving laws, decades of progress have led to reductions in serious and fatal car and truck accidents. State laws have long recognized that teenagers are generally mature enough to be granted driving privileges. Nonetheless, one important recent development in many states regarding teen drivers is graduated licensing, which restricts driving ...

New Colorado Marijuana Law: Possession, Cultivation and Criminal Defense

2012-12-13

When Colorado voters approved Amendment 64, the state joined Washington as the only two states to legalize recreational marijuana use by adults. While questions remain about whether the U.S. Department of Justice will assert federal supremacy, marijuana legalization brings major changes to prosecutions under Colorado criminal law. Government officials estimate that Amendment 64 could contribute tens of millions in revenue to the state with the passage of sales tax and licensing fees. Amendment 64 authorizes marijuana growth, processing, testing and sales at four types ...

DHS Announces Delays to Civil Rights Probe of Secure Communities Program

2012-12-13

Almost a year and a half after Immigration and Customs Enforcement (ICE) announced an internal civil rights review of its high-profile federal immigration enforcement program, the Department of Homeland Security (DHS) has revealed that the results are not forthcoming. A DHS official recently stated that data collection challenges have delayed conclusions about whether the Secure Communities program empowers local law enforcement agencies to engage in racial profiling. Secure Communities was announced in 2008 as a means to help ICE prioritize removal proceedings for undocumented ...

Keeping Financial Institutions in Check

2012-12-13

After the financial crisis of 2008 and the subsequent financial bailout of 2009, several monitoring and review measures were put into place. The most prominent, the Consumer Financial Protection Bureau (CFPB), supervises the actions of the financial industry. It is the watchdog created from the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and has the authority to determine if bank and non-bank financial institutions are playing by the rules. These steps were needed because many of the industry actions taken prior to the CFPB's formation caused ...

Tampa Bankruptcy Attorneys Clark & Washington See Merle Haggard's Bankruptcy as Inspirational

2012-12-13

Clark & Washington, a Tampa bankruptcy firm, offers Merle Haggard's personal bankruptcy as an inspirational story. One of country music's living legends, Merle Haggard rose to fame in 1963, penning some of country music's greatest songs. With years of success behind him, including multiple American Country Music awards, Haggard walked into the 1990s with little else to go on, though 1993 was a turning point for Haggard. Coming off of many years of drug use, Haggard had successfully beaten the drug addiction which almost ended his career and his life, but the financial ...

Atlanta Orthopedic Surgeons OrthoAtlanta Offer Custom Orthotics

2012-12-13

The Atlanta orthopedic doctors at OrthoAtlanta offer custom designed orthotics, so you can be comfortable as you are up on your feet, without sacrificing the style of your own shoes. At OrthoAtlanta, cutting edge technology is used to scan each of your feet individually (it is called a computerized pressure mapping system), to evaluate your body's unique pattern of weight distribution. This is done for both standing still and walking, to get a truly complete picture of what is going on with your feet. With this knowledge, a custom set of orthotics can be designed ...

J. Martinez & Co. Fine Coffees Discusses Why Jamaica Blue Mountain Coffee Is So Good

2012-12-13

J. Martinez & Company fine coffees would like to discuss what the whole coffee world has has wondered since coffee was cultivated and exported from the Caribbean: what exactly it is that makes Jamaica Blue Mountain coffee so incredibly good. Perhaps the best way to sum up the source of the undeniable goodness of Jamaican Blue Mountain coffee is its terroir. Terroir, though most often used to describe wine, refers to all of the factors that surround the production of the plants that yield the gourmet treats that we love. For Blue Mountain Jamaican coffee, this comes ...

Lacing Up Shouldn't Mean Sitting Out, States OrthoAtlanta

2012-12-13

Atlanta based orthopaedic group, OrthoAtlanta, encourage weekend warriors and avid exercise junkies to research proper footwear before beginning a new sport. Ill-fitting footwear is a major contributor to sports related injuries, believes Atlanta orthopedic doctors. Proper footwear can mean an athlete is making the finish line first, or sitting out the race because of injury, orthopaedic doctors state. Runners should always choose footwear that cradle their heels and protect their arches, to ensure that the foot is properly maintained during exercise. "Choosing ...

Lifeshield's Free Kindle Giveaway Extended Through December

2012-12-13

LifeShield Security announced today that its popular holiday giveaway of a Free Kindle Fire with the purchase of a LifeShield Security system has been extended through Christmas. "This is our most popular giveaway yet! Customers love the bundled technology offer of a wireless home security system together with a tablet to control it," said Shannon Dominello, CMO of LifeShield. "It's a fantastic deal." Customers purchasing a LifeShield Security system by calling 877-723-8892 can receive a FREE 7" Kindle Fire as a limited time promotional special. ...

Automotive Recyclers Commend Ohio Legislators' Decision to Adjourn Without Casting a Vote on SB 273

2012-12-13

The Automotive Recyclers Association (ARA) and the Ohio Auto and Truck Recyclers Association (OATRA) are commending leaders in the Ohio House of Representatives today, as the 2012 legislative session adjourns and lawmakers leave Columbus without taking further action on Senate Bill 273. The organizations have been engaged in an extensive advocacy effort to defeat SB 273, a controversial piece of legislation which would enable unlicensed and unregulated in-state and out-of-state buyers to purchase vehicles from Ohio salvage auctions. Several times in recent weeks representatives ...

LAST 30 PRESS RELEASES:

Nearly one in ten unsure if they have Long Covid

Scientists unlock new dimension in light manipulation, ushering a new era in photonic technology

Current antivirals likely less effective against severe infection caused by bird flu virus in cows’ milk

Lassa fever vaccine enters phase 1 clinical trial

Institute for Healthcare Improvement Honors Hebrew SeniorLife’s Orchard Cove and NewBridge on the Charles

Dialing in the temperature needed for precise nuclear timekeeping

Fewer than half of Medicaid managed care plans provide all FDA-approved medications for alcohol use disorder

Mount Sinai researchers specific therapy that teaches patients to tolerate stomach and body discomfort improved functional brain deficits linked to visceral disgust that can cause of food avoidance in