Kingcade Garcia McMaken, P.A. Bankruptcy Attorneys

Student Loan Overhaul Could Lead to More Bankruptcy Filings, Says Judge

Posted on November 11, 2026by Admin

After nearly three decades as a bankruptcy judge, Sarah Sharer Curley details what she calls the unfairness of the legal process in her new book, “The Price of Forgiveness: Debt, Bankruptcy, and the Future of Fairness in America.”

She calls Trump’s “Big Beautiful Bill” an “attack” on student loan borrowers and predicts an increase in bankruptcy filings. She says the law sets unrealistic federal student loan caps, potentially pushing students toward private loans that lack federal guarantees and often carry higher interest rates.

For example, let’s say a student needs a $300,000 loan to go to medical school. If the individual has a lower credit score, their interest rate may jump to 16%, leading to a payment of $5,017 per month over 10 years, or $302,040 in interest.

These expenses are not sustainable for most individuals. The rate of bankruptcy filings will most likely increase. One of the most painful cases she witnessed in her three decades presiding over bankruptcy cases, involved a 73-year-old woman who stood before her in 2012 with a student loan balance of more than $584,000.

The debt dated back to the 1970s and had grown throughout the woman’s public sector career. She had “never made a lot of money,” Curley said, and by the time she sought debt relief, the woman was living in poverty, with Social Security as her only income. Even so, strict bankruptcy laws can make student loans nearly impossible to discharge.

There were attempts by the U.S. Department of Education to work out repayment plans for student loan borrowers who could not repay their debts. There was also the possibility that the Education Department would agree to forgive at least a portion of the student loans.

However, once the Education Department was gutted in 2025, there were few, if any, employees who could approve the debt modifications through one of the offered programs. As a result, it has become harder to reach a settlement with the Department of Education.

In 2025, more than half a million personal bankruptcy cases were filed — an almost 50% rise from three years prior, according to the Administrative Office of the U.S. Courts.

Click here to read more.

For borrowers who are struggling with student loan debt, relief options are available. Many student loan borrowers are unaware that they have rights and repayment options available to them, such as postponement of loan payments, reduction of payments or even a complete discharge of the debt. There are ways to file for bankruptcy with student loan debt. It is important you contact an experienced Miami bankruptcy attorney who can advise you of all 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 McMaken 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 McMaken website at www.miamibankruptcy.com.

Filing Bankruptcy

Why Filing for Bankruptcy Shouldn’t be a DIY Project

Posted on November 2, 2026by Admin

Filing for bankruptcy “pro se” means representing yourself without an attorney. The bankruptcy process involves complex rules, forms, laws, and court decisions, making self-representation risky. Some people choose this approach because they believe they cannot afford an attorney or their case is straightforward. Regardless of the reason, filing without legal guidance is not advisable.

Here are some of the most common problems with filing for bankruptcy pro se (without an attorney):

Filing the wrong type of bankruptcy – Each type of bankruptcy is designed to solve specific problems. Property is treated very differently when it comes to Chapter 7 and Chapter 13. If you file the wrong Chapter bankruptcy, you run the risk of losing valuable property or end up not being able to discharge certain debts.
Losing valuable property that could have been protected — Personal bankruptcy allows you to claim exemptions that can protect your home and even your business. In a Florida Chapter 7 case, state bankruptcy exemptions can help safeguard your property. Florida’s homestead exemption is among the most generous in the country. To use Florida’s exemptions, you must have lived in the state for at least 730 days before filing your bankruptcy petition. Learn more about common Florida bankruptcy exemptions.
Filling out the bankruptcy forms incorrectly — Your bankruptcy petition must be accompanied by documents listing all debts, creditors, and assets. Errors or omissions can cause delays, additional costs, or dismissal of your case.
Experiencing continued creditor harassment – When you hire an attorney to file your bankruptcy, creditors are required by law to only speak with your attorney and may no longer harass you about your debt. If you choose to represent yourself in bankruptcy, the lender may try and lift the automatic stay, which is what protects you from continued creditor calls while your bankruptcy is ongoing. A consumer has specific rights when a creditor violates the automatic stay.
Missing required education courses — Chapter 7 and Chapter 13 filers must complete approved credit counseling before filing and a financial management course before receiving a discharge. These requirements can confuse pro se filers. Failure to file the required certificate can result in dismissal of the case.

Understanding these issues is important if a creditor challenges whether a debt can be discharged, the trustee alleges fraud, or another legal dispute arises. An attorney’s guidance is essential to successfully responding to a complaint or motion.

If you have any questions on this topic or are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy 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 McMaken 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 McMaken website at www.miamibankruptcy.com.

Related Resources:

O’Niell, Cara. “Filing for Bankruptcy Without an Attorney.” NOLO, 27 August, 2026. https://www.nolo.com/legal-encyclopedia/pitfalls-filing-chapter-7-bankruptcy-without-attorney.html

Consumer Debt

U.S. Wealth and Income Are Up, But It Depends Who You Ask

Posted on November 2, 2026by Admin

According to the Federal Reserve’s Survey of Consumer Finances, American families’ median net worth increased just 2% from 2022 to 2025, reaching $215,900. Families with less wealth at the outset saw declines, while wealthier families recorded larger gains, reinforcing existing wealth disparities. Richer households saw most of the wealth growth, while many lower-income families struggled financially and faced mounting credit card debt. Wealthy households also benefited from sizable gains in equity values.

Key Takeaways:

The Federal Reserve’s Survey of Consumer Finances shows median net worth for American families rose only 2% from 2022 to 2025, reaching $215,900.
Median household income increased 7% over the same period, reaching $82,200.
From 2022 to 2025, the median net worth of the bottom fourth of households fell from $3,800 to $1,700, a decline of more than 50%.

Median net worth among the wealthiest 10% of families increased about 19%, from $4.15 million to $4.94 million.
Between 2022 and 2025, the share of families with overdue loan payments rose from 12% to 20%, while the share at least two months behind increased from 5% to more than 8%.

Americans face difficulty making debt payments.

From 2022 to 2025, the share of American families in debt remained about the same at 77%, but fewer were able to make payments on time. Families were more likely to be struggling financially than at any other point since 2010, the Fed said. From 2022 to 2025, the portion of families that reported being behind on loan payments increased from 12% to 20%, and more than 8% said they were two or more months behind, up from 5% three years prior.

While each consumer’s financial situation is different, there are ways to determine if you are carrying too much credit card debt.

Consider your answers to the following questions:

Is credit card debt affecting your financial and emotional well-being? High credit card balances can lower your credit score and create financial strain and emotional stress. As a general guideline, keep your monthly credit card payments at or below 10 percent of your monthly income.

Are you paying only the minimum? Credit cards typically have low monthly minimum payments, but that doesn’t mean they are affordable just because you can cover that amount. If you are only able to make the minimum payment, that can be a sign you have too much credit card debt.
Is your credit card debt impacting your credit score? Credit cards can help your credit score- or hurt it, depending on how you use them. It is recommended that you keep your credit utilization below 30 percent. Having significant credit card debt can have a negative impact on your credit score. This can make other debts, like your mortgage and car payments more expensive.

As bankruptcy attorneys, we see credit card debt as one of the most common problems facing those with serious financial challenges.

Bankruptcy can offer relief to people overwhelmed by credit card debt. Chapter 7 is the quickest form of consumer bankruptcy and eliminates most unsecured debts, including credit card balances, medical bills, and personal loans. To qualify, consumers must meet requirements related to income, assets, and expenses, assessed through the bankruptcy means test.

Click here to read more on this story.

If you have questions on this topic or are in a financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can assist you and address all 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 McMaken 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 McMaken website at www.miamibankruptcy.com.

Filing Bankruptcy, Life After Bankruptcy, Rebuilding Credit

What Happens After Bankruptcy?

Posted on October 28, 2026by Admin

After filing for bankruptcy, you will likely have questions about how it will affect your credit and what steps you can take to move forward.

What can I expect the first year after filing bankruptcy?

A bankruptcy discharge releases you from personal liability for qualifying debts. In Chapter 7, you can be free and clear of your debts within a few months after filing; in Chapter 13, it generally comes after you complete the repayment plan.

Prioritizing your financial stability should be a top priority one year after filing. Avoid taking on any new debt. Many people receive credit card offers in the mail soon after filing bankruptcy. And while it can be tempting, it’s best to avoid these offers. Instead, focus on managing your monthly expenses, building an emergency fund, and reducing any major expenses.

A reason people hold off on filing bankruptcy is the fear of what it will do to their credit and financial future. While filing for bankruptcy will impact a person’s credit score, this damage is not irreparable.

After bankruptcy, you can begin taking steps right away to improve your credit history.

Pull a copy of your credit reports for free by visiting https://www.annualcreditreport.com/.
Make sure your credit reports are accurate. The accounts that were discharged in bankruptcy should be closed. If any discrepancies are found, these errors should be reported right away to the credit bureaus via a formal dispute.
Prioritize making future payments on time. It sounds simple, but on-time payments and responsible credit card use can significantly help you recover from bankruptcy.
Open a new line of credit. After some time has passed and you feel financially stable, consider opening a new line of credit with a reputable lender to reestablish healthy credit habits.
Creating a budget is important after completing a bankruptcy case. Write down all necessary living expenses and track how much of the consumer’s income can be used to go towards paying these costs. A good rule of thumb when budgeting is to follow the 50/30/20 rule. What this entails is 50 percent of the consumer’s income goes towards meeting his or her needs. Another 30 percent would be set aside for items that are considered not necessary or are wanted, while 20 percent of the monthly income goes towards savings.

Click here to read more.

Facing financial hardship and considering bankruptcy? An experienced Miami bankruptcy attorney can guide you through the process. Timothy Kingcade combines his experience as a CPA and bankruptcy lawyer to help clients protect their assets and achieve successful results under bankruptcy law. Since 1996, Kingcade Garcia McMaken, P.A., has helped people from all walks of life build a brighter future. Each year, our firm helps thousands of people use bankruptcy protection to restart, rebuild, and recover. We contact your creditors the day you hire us to stop the harassment. Find more consumer information at www.miamibankruptcy.com.

Bankruptcy Costs, Chapter 13, Chapter 7

How Much Does It Cost to File Bankruptcy in Florida?

Posted on October 20, 2026by Admin

Bankruptcy filing costs depend largely on whether you file under Chapter 7 or Chapter 13 and whether you hire an attorney.

Some people choose to represent themselves because they believe they cannot afford an attorney.

Filing for bankruptcy pro se can be risky because the process involves complex rules, forms, statutes, and court decisions. Most people end up hiring aan attorney to navigate the legal process.

Attorney Fees

While some attorneys charge a flat rate for bankruptcy services, others charge an hourly rate. In general, Chapter 7 filers pay about $1,500 to $2,500 in attorney fees upfront, while Chapter 13 filers often pay about $2,500 to $3,500, with higher costs possible depending on location and case complexity. Chapter 13 fees are usually built into your monthly debt repayment plan.

If your case involves a business, significant property, disputed debts, or other complications, it may require more attorney time and result in higher fees. Chapter 13 cases cost more because they require attorneys to develop a repayment plan and often involve additional work over the course of the case.

While these costs are high, hiring an attorney ensures that your dischargeable debts are managed correctly.

Chapter 7 vs. Chapter 13 filing fees

The cost of bankruptcy includes separate court and attorney fees. At a minimum, every filer must pay court filing fees directly to the bankruptcy court, along with credit counseling costs.

The basic court fees for Chapter 7 and Chapter 13 break down as follows:

Additional Court Fees

The U.S. Courts may charge for specific services throughout your case. The following table outlines common administrative fees accurately as of publication but note that this list is not exhaustive of every fee you might encounter.

Chapter 7 filers who meet income requirements and cannot afford installments may ask the court to waive the filing fee. This option is available to those earning less than 150% of the federal poverty level. Chapter 13 fees cannot be waived, but eligible filers may request an installment plan.

Basic filing fees may not cover all court-related expenses. Additional services and actions during a bankruptcy case can add to the total cost.

Additional costs of filing for bankruptcy

In addition to court and attorney fees, bankruptcy may involve smaller required or case-specific expenses. Although these costs are usually modest, they can still strain an already tight budget:

Credit counseling fees: You are typically required to attend at least one credit counseling session before filing. You can work with a credit counselor or take an online class, and classes usually cost under $100. The U.S. Department of Justice maintains a list of approved agencies you can use.

Debt education course: After filing, you must complete a financial management Depending on the provider, it can cost $10 to $100.

Click here to read more.

Consumer Debt, Consumer News

Consumers Turn to Credit as Prices Continue to Rise

Posted on October 7, 2026by Admin

Consumer spending drives the U.S. economy, accounting for two-thirds—about 70%—of economic activity and GDP. Household spending rose 6.1% in the 12 months through August 2026, up from 4.3% at the end of 2025, as demand increased for food, travel, and household goods.

Between May and June, American consumers’ use of revolving credit grew 6%, encompassed mostly of what we spend on credit cards.

Research indicates that more consumers are using credit cards for essentials such as groceries, gasoline, and utilities. With essential costs rising faster than wages, many rely on credit to cover the shortfall.

While each consumer’s financial situation is different, there are ways to determine if you are carrying too much credit card debt.

Consider your answers to the following questions:

Is credit card debt affecting your financial and emotional well-being? High credit card balances can lower your credit score and create financial and emotional stress. As a general guideline, your monthly payments should not exceed 10 percent of your monthly income.

Are you making only the minimum payment? Credit cards often require low minimum payments, but being able to pay the minimum does not necessarily mean the debt is affordable. If you can pay only the minimum, you may be carrying too much credit card debt.

Is your credit card debt impacting your credit score? Credit cards can help your credit score- or hurt it, depending on how you use them. It is recommended that you keep your credit utilization below 30 percent. Having significant credit card debt can have a negative impact on your credit score. This can make other debts, like your mortgage and car payments more expensive.

As bankruptcy attorneys, we see credit card debt as one of the most common problems facing those with serious financial challenges.

Filing for bankruptcy is a viable option for those struggling with insurmountable credit card debt. Chapter 7 is the fastest form of consumer bankruptcy and forgives most unsecured debts like credit card debt, medical bills, and personal loans. There are certain qualifications a consumer must meet regarding income, assets, and expenses to file for Chapter 7 bankruptcy, which is determined by the bankruptcy means test.

Click here to read more on this story.

Chapter 7 Bankruptcy

What You Can’t Do in Bankruptcy

Posted on October 6, 2026by Admin

If you are drowning in debt, filing for Chapter 7 bankruptcy can provide a much-needed lifeline. Qualifying debts get wiped out in a matter of months, offering relief that can feel impossible to achieve through traditional repayment. It’s meant to provide consumers with a fresh financial start. However, there are specific rules and limitations when it comes to filing Chapter 7 bankruptcy.

You cannot discharge certain types of debt. Student loans cannot be discharged, unless you can prove undue hardship. Recent tax debts, child support, alimony, court-ordered fines, and penalties, cannot be eliminated either.

You cannot keep non-exempt property beyond certain limits. While Florida’s homestead exemption protects your primary residence if you own a second home, valuable collectibles or have significant equity in property that exceeds exemption amounts, the bankruptcy trustee can sell these assets to pay creditors.

You must wait to file again. If you have previously filed for Chapter 7 bankruptcy, you must wait eight years before you can file again.

You must disclose all assets and income. During the bankruptcy process, you must report all assets, income sources, and recent financial transactions. Transferring property to friends or family before filing, hiding income, or making false statements on your petition can have serious consequences.

You cannot incur new debt with the intention of discharging it. Racking up credit card charges or taking out loans shortly before filing bankruptcy, especially for luxury items or cash advances, can be deemed bankruptcy fraud and result in your case being thrown out.

If you have questions or are considering bankruptcy because of financial hardship, consult an experienced Miami bankruptcy attorney who can explain your options. As both an experienced CPA and a proven bankruptcy lawyer, Timothy Kingcade helps clients use bankruptcy laws to protect their assets and pursue successful outcomes. Since 1996, Kingcade Garcia McMaken has helped people from all walks of life build a stronger financial future. Our attorneys help thousands of people each year use bankruptcy protection to restart, rebuild, and recover. Once you hire our firm, we will contact your creditors to stop the harassment. You can also find helpful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

SOURCE: What can you not do in a Chapter 7 bankruptcy? – CBS News

Bankruptcy Law, Debt Collection

Collection Laws & Bankruptcy: What are my Legal Rights?

Posted on September 21, 2026by Admin

Any business that extends credit to a consumer must adhere to federal and state consumer laws and fair debt collection practices. When businesses extend credit to consumers, they run the risk of the consumer not being able to pay them back.

When a creditor attempts to collect a debt directly, state law governs the collection process. In many states, the creditor must contact the consumer by phone and provide written notice before starting formal collection proceedings. Most states prohibit repeated harassing phone calls, threats of legal action that cannot be taken, misrepresenting the creditor’s identity, sending mail that references debt collection on the outside, and attempting to collect more than the amount owed.

State and federal laws protect consumers from harassment by creditors and debt collection agencies.

Debt collection agencies must comply not only with state laws, but also with the federal Fair Debt Collection Practices Act (FDCPA). The FDCPA prohibits abusive and deceptive debt collection tactics, such as calling a consumer and failing to identify the reason for calling, calling at inappropriately early or late hours, contacting the consumer at work after being told the consumer cannot receive calls at work, revealing the consumer’s debt to third parties, or threatening violence.

Collections and Bankruptcy

Filing for Chapter 7 or Chapter 13 bankruptcy triggers an automatic stay. This is one of the best tools available to bankruptcy filers. When a person files for bankruptcy, the court will issue an order called an automatic stay. This puts an immediate stop to collection attempts, creditor harassment, along with any civil lawsuits filed against the person pursuing bankruptcy.

The automatic stay gives filers relief when they face multiple financial pressures and collection actions at the same time.

Automatic Stay Benefits

When someone is facing severe financial hardship, they may be at risk of losing the most basic of necessities. If they are behind on utility bills and face losing water, electricity, or gas service, the automatic stay can give them extra time to resolve the issue and avoid a shutoff.

The same protection applies to someone facing foreclosure. The automatic stay immediately pauses those proceedings. If the filer rents their home and is facing eviction, the stay may also provide temporary relief.

Click here to read more.

If you have questions about this topic or are facing financial hardship and considering bankruptcy, contact an experienced Miami bankruptcy attorney who can explain your options. As both an experienced CPA and a proven bankruptcy lawyer, Timothy Kingcade helps clients use bankruptcy laws to protect their assets and pursue successful outcomes. Since 1996, Kingcade Garcia McMaken has helped people from all walks of life build a stronger financial future. Our attorneys help thousands of people each year use bankruptcy protection to restart, rebuild, and recover. Once you hire our firm, we will contact your creditors to stop the harassment. You can also find helpful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

Consumer Debt, Credit Score, Debt Collection, Payday Loans

What Happens If I Can’t Payback a Payday Loan?

Posted on August 19, 2026by Admin

Many people use payday loans to cover expenses, like utilities, gas, and groceries, when they run out of money before their next paycheck. But because of the loan’s high cost and short turn around time, it can be difficult to pay them back on time.

Defaulting on a payday loan can result in fees, collection calls, even legal action being taken against you. Lenders may send your unpaid account to a collection agency, which can end up damaging your credit score if it appears on your credit report.

Understanding what happens if you cannot pay back a payday loan and the options available can help you decide how to handle your loan.

Consequences of Not Paying Back a Payday Loan

Fees and Interest Accumulation

Payday loans come with high fees that equate to triple-digit annual percentage rates (APRs). If you fail to repay the loan on time, late fees and interest can accumulate, making it increasingly difficult to pay back the original loan.

Bank Fees

Payday lenders usually require access to an active checking or debit account so they can deposit funds and collect repayment by electronic debit or post-dated check. If your account lacks enough money when payment is due, you may face overdraft or insufficient funds fees. Repeated withdrawal attempts can add more fees and worsen your financial hardship.

Debt Collection

After several unsuccessful attempts to collect payment, payday lenders may sell your debt to a collection agency. Collection agencies often use aggressive tactics to recover the debt including frequent phone calls, letters and even emails or text messages.

Impact on Your Credit Score and Future Credit

Payday lenders typically do not report payments to the credit bureaus. However, if you stop paying and the debt is sent to collections, it can hurt your credit score and make it harder to qualify for new credit cards, loans, or other services that require a credit check.

Legal Consequences

In some cases, lenders or collection agencies may pursue legal action to collect the debt. This can lead to a judgment against you, which can result in wage garnishment or bank account levy.

What to Do if You Cannot Repay a Payday Loan

Request a financial hardship program. Reach out to your lender before the due date to ask for an extension or repayment plan.
Stop electronic withdrawals. To prevent bank fees, you can revoke the lender’s payment authorization. Notify the lender in writing and inform your bank.
Borrow from a trusted friend or family member. If feasible, consider borrowing from a trusted friend or family member, to help pay off your payday loan debt. Be sure to establish a clear repayment plan to maintain your relationship.
Seek credit counseling. A nonprofit credit counselor may be able to help you find solutions for getting out of your payday loan debt.
Avoid taking out another payday loan. While it may be tempting to borrow a second loan to cover the first, doing so can trap you in a cycle of payday loan debt.

How to Rebuild Credit After Payday Loan Default

Get current on your payments. If you still have outstanding payday loan, prioritize paying them off. You may be able to negotiate a lower payoff amount, even if the loan has gone to collections.
Pay down existing debt. Work on reducing your credit card balances. A lower credit utilization ratio can have a positive impact on your credit score.
Monitor your credit. Check your credit report for any inaccuracies. Dispute any errors with the three major credit bureaus (Equifax, Experian, and TransUnion). If you find inaccuracies on your credit report, you have the right to file a dispute with the credit bureaus to have them corrected or removed.
Make on-time payments. Payment history accounts for a significant portion of your credit score. Making consistent, on-time payments toward your bills and credit cards can have a positive impact on your credit score.
Lower your credit utilization. Pay down revolving credit accounts to free up more available credit. The goal is to keep your credit utilization at 30% or lower. Your debt payment history is the most important factor in your credit score calculation, making up 35% of your FICO^®Score^Θ. This score is used by 90% of top lenders.
Avoid taking on additional debt. Limit new credit applications while rebuilding your credit. Applying for multiple accounts at once can add hard inquiries to your credit report and may temporarily lower your score. Space out applications and apply only when necessary.
Build positive credit. Make on-time payments on bills and credit accounts to help improve your score. You might also build credit with a secured credit card or by becoming an authorized user on the account of someone who manages credit responsibly.

SOURCES:

Dow, N. (2026, March 4) Can’t Repay a Payday Loan? Here’s What to Do. Nerdwallet. Nerdwallet.com.

Irby, L. (2024, October 7) What Happens if You Can’t Pay Back a Payday Loan? Experian. Experian.com

Foreclosure Defense, Foreclosures

Florida Leads the Nation in Foreclosure Filings

Posted on August 11, 2026by Admin

Florida leads the nation in foreclosure filings, according to a new report from property data company ATTOM. As housing-related costs continue to rise, foreclosure filings nationwide increased 21% in the first half of 2026 compared with the same period in 2025.

Experts said the trend is driven by several factors, including the cost of living, homeowners’ insurance, homeowners’ association fees, property taxes, and the lingering effects of the COVID-19 pandemic.

More than 39,000 properties nationwide received default notices, scheduled auctions or bank repossessions, according to the report.

Since 2020, foreclosure filings have increased 71%, according to ATTOM. Florida recorded the highest average annual foreclosure filings per ZIP code, at 4,871, followed by New Jersey, Delaware, Nevada, and South Carolina.

Experts say homeowners facing foreclosure should act early, as prompt action can make a meaningful difference.

When Can a Foreclosure Start?

Foreclosure generally cannot begin until a homeowner is more than 120 days behind on mortgage payments. This period gives the homeowner time to submit a loss mitigation application before the foreclosure process starts. If you cannot make your monthly mortgage payments, you have options available to you that can keep you from losing your home.

REMEMBER: In Florida, the homeowner has rights when it comes to foreclosure! But do not delay.

Choosing the right attorney can make the difference between keeping your home or losing it in foreclosure. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives.

SOURCE: Leyva, Massiel. (2026, July 26). “Florida leads nation in foreclosure filings, report shows.” Spectrum News 13. https://mynews13.com/fl/orlando/news/2026/07/24/florida-leads-nation-in-foreclosure-filings-attom-report-shows