Fort Myers Debt Relief
If you're a Fort Myers resident struggling with unsecured debt, you should be aware that Florida state law provides for protections from harassment by creditors and debt collectors that go beyond what is available in other states under federal law.
You may qualify for a debt reduction program and save thousands. Do not continue to fall victim of Predatory lending practices. Take advantage of your consumer rights today!
Debt settlement and negotiation in Fort Myers, Florida (FL):
Debt Negotiation is also referred to as debt settlement and debt reduction, is where attorney’s negotiate with your creditors and settle the debt for less than the original amount. During this process you make one monthly deposit into an escrow account that is opened in your name instead of multiple minimum payments to the credit card companies. The attorneys use these funds to settle the debt and in many cases this is the most beneficial form of debt settlement or debt negotiation offered to consumers in Florida.
In most instances the attorneys are able to negotiate and settle debts for credit cards, collections, medical bills, and various other debts. To speak with a representative please call our toll free number: (800) 590-4523.
Important laws relating to debt relief, debt help, debt settlement, and debt negotiation in Fort Myers, Florida:
Creditors in Florida must follow the Fair Debt Collection Practices Act (FDCPA) with regard to debt collection. Our attorney’s are familiar with these laws and will work with you to ensure you are not a victim of violations by the original creditors or collection companies. For example before a judgment is entered creditors and collection agents may not communicate with a debtor’s employer without consent from the debtor. Florida also has limits on the interest rates the collection agencies may charge and laws protecting debtor’s wages. With complex laws and rules governing this area of commerce, and violations costing creditors $1000 plus attorney fees, it is not surprising that credit card and collection companies do not want you working with an attorney.
Time may be on your side, the Statute of Limitations:
Once you become delinquent the statute of limitations on that debt begins running. The statute of limitations limits the time a creditor or debt collector has to initiate legal proceedings. Once the statute of limitations has expired, the party collecting the debt has fewer options, however calculating when the statute of limitations can be tricky. Each state has its own set of laws relating to this area of the law and each form of debt has its own applicable statute of limitations. So Florida’s statute of limitations with regard to credit card debt may be different from Georgia’s while both states will have separate statutes of limitations with regard to a written contract that a debtor is trying to collect on. While reviewing your debts our attorney’s will look for violations of the statutes of limitations which could be beneficial for you.
To schedule a free no cost no obligation analysis with one of our experienced debt consultants call toll free: (800) 590-4523.
Is declaring Bankruptcy right for you?
When contemplating debt negotiation and debt settlement or debt consolidation many people will also consider declaring Bankruptcy however before going that route it is important to understand some recent changes in the law. Prior to the 2005 Bankruptcy Act people who found themselves facing a financial hardship and more debt than they could pay off would often file Chapter 7 Bankruptcy which would effectively wipe out their debts and give them a fresh start. For many Chapter 7 Bankruptcy was preferred over Chapter 13 Bankruptcy where the debtor would be set up in a repayment plan determined by the courts.
Under the new laws of Bankruptcy many filers with higher incomes are precluded from filing Chapter 7 Bankruptcy. To establish eligibility for Chapter 7 Bankruptcy debtors must pass a two part test otherwise the debtor must file Chapter 13 Bankruptcy and enter into the repayment plan established by the court. The first part is a comparison of the debtors “current monthly income” against the median household income in the debtors state. For example the median income based on 2005 census figures for a 1 person household is $42,468, if the debtor’s adjusted income is above that they must pass the “Means Test” which essentially determines whether you have enough disposable income after allowed deductions to make payments on a Chapter 13 Bankruptcy plan. Should the leftover income fall below a certain threshold the debtor is allowed to file Chapter 7 Bankruptcy. These laws and calculations can be complex and a Bankruptcy Lawyer should be consulted with specific questions.
Bankruptcy is also viewed as an option of last resort for most because of the negative stigma it carries and as a matter of public record for any and all to see for the rest of the debtor’s life. Chapter 7 Bankruptcy and Chapter 13 Bankruptcy will also appear on your credit report for up to ten years. Small business owners in Florida and across the nation must be especially wary of filing for personal Bankruptcy as it may prevent the small business owner from obtaining the necessary financing or small business loans.
Each individual debtor faces a unique set of circumstances and must make the decision they feel is in their best interest and the best interest of their family. When considering debt negotiation and Bankruptcy it is important to think of both the short term and long term effects of each. Over the short term if someone qualifies for a Chapter 7 Bankruptcy they will save money versus debt negotiation however there may be long term repercussions when the debtor seeks credit to buy a home or applies for certain jobs requiring a background check.
Debtors considering Chapter 13 Bankruptcy must consider whether they can afford to pay back all of the unsecured debt in the short term through a Bankruptcy payment plan as well as how their credit will be affected in the years following a Bankruptcy. Additionally because courts will seek to pay back all creditors in full these plans often are extended over a period of 5 years versus a debt negotiation where the attorney will seek the shortest term the debtor can comfortably afford.
Bankruptcy Courts
Fort Myers Courthouse
2110 First Street
Fort Myers, Florida 33901