CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Florida Residents Can Eliminate Debt in 2014

New Year’s Day has come and gone, and many Florida residents likely made a resolution to get their financial house in order in 2014. Making such a resolution is one thing, but actually taking steps to eliminate debt may seem daunting. Many people wonder where to start and how to keep the momentum going.

It can be tempting to dive in without first devising a plan. Without a plan, an individual may try to attack too many issues and debts at once. This will almost assuredly cause a person to burn out too quickly or simply feel too overwhelmed to make significant progress.

Another pitfall is setting unrealistic goals. To avoid doing this, take the time to review how the money is spent. Some expenses may be cut, or at least reduced, in order to provide more disposable income to pay down debt. Making some budgetary adjustments could make the difference.

However, it is helpful to remember that a plan is not written in stone. As time progresses, a review of the budget as compared to reality may be helpful. A too strict budget will only leave a Florida resident frustrated and discouraged, which is a recipe for disaster. It is okay to revamp the budget as needed.

Sometimes, no matter how often an individual attempts to eliminate debt, it simply is not possible. Through either unforeseen circumstances or just an overwhelming amount of debt, some consumers are simply unable to pay their debts. A Chapter 13 bankruptcy stops any collection activities while seeking the court’s approval of a repayment plan over a stipulated period of time. The filer pays the trustee a certain amount of money each month, and the trustee distributes it to creditors in accordance with a repayment plan approved by the court. After all of the plan payments are made, the filer is typically able to emerge from bankruptcy protection on firmer financial footing and with the ability to move forward securely and free of overwhelming debt.

Source: onlineathens.com,Rupured: Persistance, not perfection, is the key to meeting financial goals in 2014, Michael Rupured, Jan. 4, 2014

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

10 Signs You Should File for Bankruptcy

When it comes to your finances, there may come a time when you feel like bankruptcy is the only way...
Read More

What Do You Need to Know Before Filing for Bankruptcy? A Chapter 7 Bankruptcy Attorney in Florida Can Help You During this Time

What happens during the time leading up to filing for Chapter 7 bankruptcy? A Chapter 7 bankruptcy attorney in Florida...
Read More

What Does It Mean to Declare Bankruptcy?

What does it mean to "declare" bankruptcy? Your bankruptcy law attorney will help you through the process. Declaring bankruptcy is...
Read More

Student Loan Forbearance Ends April 30th. Here’s What You Need to Know

The federal government extended forbearance of repayment of student loans during the COVID-19 crisis. This forbearance was due to end...
Read More

Is Better Money Management on Your List of Resolutions for 2022?

If you’re like most Americans, improving your financial situation is on your list of New Year’s resolutions for 2022. Whether...
Read More

3 Reasons to Send Your Bankruptcy Attorney in Tampa Florida a Christmas Card

Have you begun making your Christmas card list yet? Did you include your bankruptcy attorney in Tampa, Florida? It seems...
Read More

What Was the Biggest Money Management and Bankruptcy News of 2021?

Like most years, bankruptcy was a topic that arose in the news many times throughout 2021. Topics related to money...
Read More

3 Best Bankruptcy Tips of 2021

Learning how to manage your money is an ongoing process. Even the smartest money minds out there can always learn...
Read More

How to Prevent Bankruptcy from Ruining Your Holiday Season: Why a Spending Spree Before Bankruptcy Could Hurt You in the New Year

Should you go on a spending spree before bankruptcy to celebrate the holiday season? The answer might surprise you. The...
Read More

How to Avoid Holiday Overspending

The holidays are upon us and, as usual, many people are trying to keep their spending within a budget. As...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions