If you are finding it difficult to make ends meet and impossible to pay all of your bills, you might find it tempting to ignore the ones that are the least important in terms of necessity. This can mean your credit card bills, since you probably do not want to have any utilities shut off. However, what can happen if Fort Lauderdale residents stop paying their credit card bills? Will the debt just disappear?
You may have just begun to experience financial difficulties, or you might have been suffering under the burden of heavy debt for some time. Regardless of how long you have been in debt, these challenges can be crippling. Like other Fort Lauderdale residents, you may wonder when enough is enough. At what point do you decide to stop struggling with your debt and file for bankruptcy?
If you are contacted by a bill collector, you may be told that you can go to jail for not paying your debts. However, as we have discussed in previous posts, this claim is false and violates the Fair Debt Collection Practices Act. However, is it possible for you or other Fort Lauderdale residents to be arrested over unpaid court fees and legal fines associated with a criminal charge?
When couples in Florida divorce, debt is an issue that is frequently addressed. Marital property, such as the family’s home and vehicles, must be divided, and shared debts are treated the same. What happens if one ex-spouse does not repay the debt that he or she has been ordered by the court to pay?
As previous posts in this blog have explained, medical debt is a serious concern for people in Fort Lauderdale, as well as the rest of the country. Having medical insurance is not necessarily the security blanket it might have been a few years ago. If you are one of the many people in the country without any health insurance, you may be even more worried. At The Law Offices of George Castrataro, P.A., we understand the stress you may feel if you are dealing with overwhelming medical debt, as well as debt of any kind.
Overspending, medical emergencies, the loss of a job and any other number of factors may cause people throughout Florida to fall behind on their bills. Often, this results in them being contacted by debt collectors. While it is the job of these agents to obtain payments, there are limits to what they can do in order to get what is owed.
You see them all the time – offers from credit card companies that give you zero percent interest if you transfer your current credit card balance over. It sounds like a great opportunity to clear off some of your credit card debt and get your finances in better order, right? However, before you pick up your phone and dial that number, or fill out the form, you should carefully consider the pros and cons.
Credit cards can be a valuable tool to have on hand for many people in Florida but they can also cause a lot of problems. It can be tempting for people to use their credit cards to pay for gas, groceries, living expenses and even large-scale purchases, but they must remember that they will have to pay that debt off and it doesn’t take long for the balance due to get out of control.
While your debt may not actually be rising once you stop making purchases with a credit card in Florida, it may take years to pay off the balance if you only make the minimum payment. If you are looking at solutions for getting out from under overwhelming credit card debt, you may have considered a debt settlement company. At the Law Offices of George Castrataro, P.C., we are able to provide answers to questions people often have when considering this option.
Many people in Fort Lauderdale, Florida, may feel pressure to purchase gifts for friends and family members during the holidays that do not actually fit into their budgets. While some people can manage the larger payments necessary to eliminate the debt during the first part of the year, others may discover that the cost is much higher than they anticipated. For these credit card holders, extra steps may be needed to get back in the black.