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

Are Medical Issues Forcing You Into Bankruptcy?

Many Americans wind up in debt because of medical bills. One of the most common reasons for filing bankruptcy in...
Read More

Law Offices of Robert M. Geller, P.A. Congratulates Danielle Austin For Receiving the Patriot Award from the United States Department of Defense

Award Recognizes Support of Guard and Reserve Members Who Work for the Organization Tampa, Florida, June 29, 2021 – The...
Read More

Is Your 401k or Other Retirement Savings at Risk in Bankruptcy’s Liquidation of Assets?

If you’ve spent years saving for retirement, putting that money at risk when you file for bankruptcy is likely one...
Read More

Tips to Help You Protect Your Assets When You File for Bankruptcy

One of the most intimidating aspects of filing for bankruptcy is protecting your assets. Worrying about whether bankruptcy puts their...
Read More

How Does Bankruptcy Affect Vehicle Ownership? What Assets Can You Keep through the Bankruptcy Process and Does It Affect Your Car?

Many people struggling financially avoid filing for bankruptcy because of concerns about losing important assets like their vehicles. The good...
Read More

Is There a Legal Way to Hide Assets When You File for Bankruptcy?

Filing for bankruptcy can be an overwhelming experience. The relief you receive when you file helps you feel better about...
Read More

Do Bankruptcy Trustees Take Your Savings? What is Considered an Asset in Bankruptcy and How Does It Affect the Money You’ve Saved?

Bankruptcy trustees gain access to a variety of your assets when you file. But what is considered an asset in...
Read More

Can Filing for Bankruptcy Help You Protect Your House?

fiHow filing for bankruptcy affects your home is one of the greatest concerns people have when they consult with bankruptcy...
Read More

Should I Refinance a Student Loan I Can’t Discharge in Bankruptcy?

Student loan debt is overwhelming many people. Could refinancing be the answer to help you avoid bankruptcy if your student...
Read More

Can Student Loan Consolidation Help You Avoid Bankruptcy?

One of the most common questions people have when they consider bankruptcy is “can student debt be discharged in bankruptcy?”...
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 RG Seal

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