Bankruptcy Law, Foreclosures, Timothy Kingcade Posts

South Florida’s Bankruptcy Filings Fall for the Third Month in a Row

After a major surge in bankruptcy filings earlier this year, May was the third month in a row where South Florida experienced yet another decrease in bankruptcy filings. The U.S. District Court of Miami released a statement saying that during the month of May bankruptcy filings dropped 2.75 percent from April filings in Broward, Palm Beach, and Miami-Dade counties combined. In Broward County, 732 consumers filed for bankruptcy, in Palm Beach County 412 filed and in Miami-Dade 1,293 filed.
Bankruptcy and foreclosure trends tend to go hand in hand. Therefore, foreclosure cases in South Florida have also decreased over the past three months. From March to April this year, foreclosure cases were down approximately 15 percent in Palm Beach County, down 36 percent from a year ago. Foreclosure cases were down 31 percent from March to April in Broward County. In April, there was some speculation from attorneys that bankruptcy filings were down due to consumers waiting for new qualification factors beginning May 1st. The new qualifications include a change on income limits that would make filing for bankruptcy easier for financially distressed consumers.
To read more on this story visit: http://www.sun-sentinel.com/news/palm-beach/fl-bankruptcies-may-20120602,0,1862683.story
If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com.

Credit, Timothy Kingcade Posts

South Florida Ranks Number One in Credit Card Delinquencies

CredAbility, a non-profit credit counseling agency, conducted a study of 25 metro areas in the United States to determine the financial standings of major cities across the country. According to the study, Palm Beach, Broward, and Miami-Dade counties ranked highest in overall consumer credit card delinquencies. South Florida also ranked fourth of the 25 metro areas with the highest number of bankruptcy filings during the first quarter of 2012.
Much of the credit problems in South Florida can be attributed to lenders handing out credit cards to freely during the recession. Many South Floridians used their credit cards as spending money as they suffered pay cuts and job losses. Over time lenders began taking steps to hold borrowers to higher standards and not lending out money as freely as before. The financial problems for many South Floridians are not expected to ease up until the job market becomes more secure, which could take a couple more years.
To read more on this story visit: http://www.sun-sentinel.com/business/fl-worst-credit-rating-20120515,0,2146740.story?track=rss
If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com.