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Debt settlement companies ordered to cease activities

The attorney general of Florida and the Federal Trade Commission have been able to obtain a court order that requires 11 companies to immediately cease all of their debt settlement activities in the state. The companies are accused of misleading consumers and violating several federal and state regulations. According to the complaint, the companies collected large amounts from consumers each month but failed to apply these sums to their outstanding credit card balances.

Illegal debt collection methods

If you have ever fallen behind on your bills, you may have firsthand knowledge of just how aggressive debt collectors can be in their collection tactics. While they are within their rights to attempt to collect any money owed to them, creditors and debt collectors may not use methods considered unlawful when doing so.

More high-income debtors choosing Chapter 11 bankruptcy

When Florida debtors qualify for Chapter 13 bankruptcy, they might still choose to file under Chapter 11. Despite the greater expenses and complications of Chapter 11, researchers discovered that increasing numbers of individuals were opting for Chapter 11 protection. The ABI Endownment Fund commissioned the study, which found that individuals were entering the Chapter 11 process in increasing numbers.

Supreme Court sides with truck drivers in bankruptcy case

When a Florida company files for bankruptcy, the workers might worry about receiving their salaries like the drivers who worked for Jevic Holding Corp. They had to take their case all the way to the Supreme Court of the United States after lower courts ignored their $8 million claim for damages while settling the Chapter 11 case for other creditors and paying the lawyers involved. In a 6-2 ruling, the Supreme Court declared invalid the structured dismissal approved previously. The majority of justices agreed that the case could not disregard bankruptcy laws that determine who gets paid first when a business goes bankrupt.

Reasons to pay off debt

Some people in Florida who are in debt might think that paying it off as soon as possible is not important. So many people carry debt these days that it is often seen as normal to be hundreds or even thousands of dollars in debt. However, there are a number of reasons to get rid of debt as quickly as possible.

How bill collectors pusue left-behind debt

The deceptive practices and intimidating tactics of debt collection companies in Florida and around the country have been criticized by state prosecutors, federal regulators and consumer advocates alike. One approach that has drawn particular ire is the practice of leading the loved ones of deceased debtors to believe that they are responsible for clearing up left-behind obligations. This debt is generally the responsibility of the decedent's estate, but this may not deter bill collectors from calling individuals who have no legal reason to pay them.

Dealing with collection attempts for zombie debts

When Florida consumers suddenly receive a letter or a phone call about a debt that they don't know anything about, they could be facing a 'zombie debt." This term refers to an obligation that has lain dormant for years before being resurrected by a collections agency. It may or may not be legitimate.

Expired, invalid debts are often collected in bankruptcy

Many Florida residents who are in debt to others are not aware that there is a statute of limitations regarding their obligations. After a certain period of time, an unpaid debt that has not been reaffirmed by the debtor becomes uncollectible. If a debtor files for bankruptcy, the owner of time-barred debt may be able to recover some money by filing a proof of claim. However, this practice is now under scrutiny by the U.S. Supreme Court.

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