Bankruptcy Law

Bankruptcy Law, Florida Bar, Timothy Kingcade Posts

Kingcade & Garcia, P.A. Files 1,070 Bankruptcy Cases for the Year in the Southern District of Florida

Posted on by Admin

MIAMI – Kingcade & Garcia, P.A. (www.miamibankruptcy.com) a Miami-based bankruptcy law firm, focused solely on helping individuals and families throughout the Southern District of Florida in Chapter 7 bankruptcy and foreclosure defense cases, is pleased to announce it filed 1,070 total bankruptcy cases in 2012.

“We are honored to be able to help more than 1,000 families in South Florida eliminate their debt and get a fresh start with their finances,” said Founding Partner and Managing Shareholder, Timothy S. Kingcade. “We attribute this success to our unwavering dedication to our clients and never losing sight of their best interest throughout the bankruptcy process.”

Attorney Kingcade practices exclusively in the field of bankruptcy law, handling Chapter 7 bankruptcy filings and foreclosure defense cases for the Southern District of Florida. All partners and associates at Kingcade & Garcia, P.A. specialize in consumer bankruptcy and foreclosure and have dedicated their practices to this area of the law. Additionally, all attorneys and staff members at the firm are bilingual speaking Spanish.

###

Miami-based Kingcade & Garcia, P.A. was established by managing partner and bankruptcy attorney, Timothy Kingcade in 1996. The firm represents clients throughout the Southern District of Florida in Chapter 7 bankruptcy and foreclosure defense cases. The firm is committed to providing personalized service to each and every client, clearly explaining the options according to the unique circumstances of his or her life. The office environment and the service provided are centered on a culture of superior client care. More information can be found at www.miamibankruptcy.com or by calling 305-285-9100.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Don’t Let a Car Accident Wreck Your Credit

Posted on by Admin

Many car accident victims are often burdened with major medical bills after their accident. In fact, according to a Harvard study 62 percent of bankruptcies are caused by outstanding medical bills. Insurance claims can be extremely confusing and differ according to state and policy. While waiting for your insurance claim to settle, these medical bills are often sent off to collection agencies. This in turn can have an immediate impact on your credit score. Insurance companies have a reputation for taking their time settling claims, leaving accident victims sitting on a mountain of debt.

Below are some ways to avoid the accident having a negative impact on your credit score:

1. Provide all health and auto insurance information to any health care providers you have seen after the accident. The worst mistake you can make is to assume that one or the other will be solely covering your medical costs. Also make sure you provide your claim number with your medical providers.

2. Even though it is a stressful time, you must be proactive. Promptly report the accident to your insurance company. If you delay your claim, insurance companies may try to use this against you as grounds for denying a claim.

3. Keep all of your mail, records, reports, etc., organized. Save every piece of mail you receive regarding the accident. This can include any type of correspondence between you, the medical providers or the insurance companies.

4. Educate yourself about balance billing. Most health care providers are required to follow certain billing procedures. If you are not aware of the procedures, you might become the victim of balance billing where you are not billed within a timely manner.

5. Do not hesitate to ask your insurance agent for help.

6. The best results come to those who are persistent. You may feel as though you are annoying your company’s adjusters; however, they are more likely to settle your claim in a timely manner if you are persistent.

7. It is not in your best interest to try and settle your claim alone. There are often important deadlines and procedures that you do not know, therefore consider hiring an attorney to help you through this process.

8. If you are denied a claim, challenge the denial. Your attorney can help you file a suit to rightfully claim your settlement.

9. The scary truth is that you may be liable for some of your medical bills. However, you can try to negotiate the amount you owe. Your attorney can also help you negotiate this with your health care provider.

To read more on this story visit: http://money.msn.com/credit-rating/will-a-car-crash-wreck-your-credit?page=2

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.

Bankruptcy Law, Credit, Timothy Kingcade Posts

January the Most Popular Month for Divorce

Posted on by Admin

The first month of the New Year is reportedly the most popular time of the year to file for divorce. Below are five financial reasons why:

1. Year-End Bonuses are a contributing factor of why many couples wait until January to divorce. In most states, once a divorce has been filed, any income that comes in after, is separate. Year-end bonuses are commonly fought over in divorces.

2. Cooling Off can be another factor in why spouses wait until January to file for divorce. Spouses are aware of the fact that their significant other might be less likely to settle if their holiday was ruined.

3. Holiday Shopping can be disastrous if spouses are angry at one other. The spouse that has been served the papers may go on a spree with the idea that he/she deserves it while the opportunity is present.

4. Tax Returns are commonly thought to be a contributing factor to whether a divorce is filed in December or January. While it really makes no difference when the divorce is filed, many couples are under the assumption its best to start the New Year with a clean slate.

5. More Time to Plan is available if a spouse waits to file for divorce in January. Both spouses have most likely had some time off for the holidays and are able to get end-of-year statements together. There is more time for spouses to sift through finances and gain a better prospective on what the future holds.

To read more on this story visit: http://www.nbcnews.com/business/considering-divorce-wait-until-january-1C7659310

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.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Top 7 Financial Resolutions for 2013

Posted on by Admin

Today marks the first day of 2013 and for many this is a time for making New Year’s resolutions. For some people, the resolution might be to improve their health or stop smoking, but for many this marks a time to make financial resolutions. To get your economic house in order, begin with these seven mantras:

1.) Start an emergency fund: Only one in four American households have an adequate emergency savings cushion. It’s recommended that the money be taken directly out of your paycheck or checking account so you will never miss it. The first priority should be building up three to six months’ worth of expenses in an emergency fund.
2.) Stop paying bank fees: As most people are aware, banks are trying to make up for lost revenue, so they charge on everything from monthly maintenance to overdraft protection. A May, 2012 Pew study reported that the average overdraft fee is $35, and said big banks charge an average of $117 per year. Opt for an online bank, a community bank, or a credit union—the only place you will find hassle-free, no-fee checking.
3.) Save for retirement: Whether you are 25 or 45, most people are not saving enough for retirement. Since the retirement contribution limits for IRA’s and workplace retirement programs both increase in 2013, there is room for everybody to save more for retirement this year than they did last year.
4.) Pay off your debt: According to a recent study by CardHub, credit card debt hovers around $6,700 per household. This does not include debt that people have defaulted on but are still responsible for. Pay down high-interest credit cards first, as less of the dollar will be going toward interest and more to the principal.
5.) Make a budget: People often shy away from this because they find it trivial or tedious, but it’s a necessity and will help you decipher between luxuries and necessities in your spending habits.
6.) Build your credit score: This is important, because the better your credit the more you can take advantage of rewards and zero percent introductory interest rates.
7.) Talk about money with your partner/family: Most people shy away from this because it can be uncomfortable. But it doesn’t have to be. Check in with your family members to see what plans they have in place to protect their heirs and assets. Make sure that your family is provided for in the unlikely event that you are injured.

To read more on this topic visit: http://abcnews.go.com/Business/top-financial-resolutions-2013/story?id=18026466

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.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Four Common Credit Card Mistakes

Posted on by Admin

Credit cards are a great way to improve your credit score; however simple missteps in your credit card use can ruin your credit and leave you with unmanageable debt. Many people first encounter credit card trouble when they opt for short-term benefits and ignore the big picture. Cardholders are frequently enticed by flashy marketing campaigns and as a result, ignore the fine print terms of their cards.
Below are four common cardholder mistakes:
1. Credit card companies frequently offer signing bonus points to prospective cardholders. The majority of consumers do not read the fine print stating that a certain amount must be spent in a certain amount of time to receive these benefits. Consumers should be weary of increasing their spending to receive bonus points.
2. Credit card companies that use bonus points most likely have higher annual fees. A commonly used marketing tool is to waive this fee for the first year of card use. Consumers tend to disregard the fee since the first year is free and may not be able to afford it later.
3. If a cardholder is racking up interest on a card and having a hard time paying it off, it is not uncommon for them to transfer the balance to another card. Many consumers do so in order to receive a 0% introductory rate. In some cases, consumers skim the fine print and do not realize the interest on the card will be retroactive. Transferring balances from one card to another can also have a negative impact on consumers’ credit scores.
4. Department stores have been offering up discounts at the register in exchange for signing up for a store card for years. Oftentimes feeling rushed, it is common for consumers to overlook the fine print and sign off on inflated interest rates. Store card interest rates are rarely anything less than double digits; therefore consumers should forgo the discount!
To read more on this story visit: http://money.msn.com/credit-rating/4-costly-credit-card-missteps?page=2
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.

Bankruptcy Law, Timothy Kingcade Posts

Can Bankruptcy Eliminate Some of my Divorce Debt?

Posted on by Admin

Many people who have gone through a divorce find themselves left with unmanageable debt. Bills that you once easily paid can be impossible for you to afford with only one income. An added stress is that you may also be required to pay alimony or child support. ‘Support’ payments can take a large amount of your monthly income. Unfortunately, these debts are not typically eliminated through any type of bankruptcy. However, if you are struggling to keep up with your other bills, bankruptcy may be the best option to help you get a handle on your other finances.
According to Section 523(a) of the Bankruptcy Code the following debts are non-dischargeable through bankruptcy:
• Certain types of taxes and particularly taxes where the debtor filed a fraudulent return.
• Debts which the debtor did not list in his/her bankruptcy papers
• Debts for a domestic support obligation arising from a divorce or other family law situation
• Property settlements arising from a divorce or other family law situation
• Most fines and penalties payable to a government unit
• Student loan debt
• Personal injury claims arising from the use of drugs or alcohol
• Criminal restitution
• Condominium or homeowner association assessments due after the debtor files for bankruptcy
Oftentimes debt that is shared between spouses will still be shared debt after a divorce. As a result, if one spouse files for bankruptcy, the creditors will expect the other spouse to fulfill the debt that was once shared. This can send the other spouse into bankruptcy as well. For this reason, couples are urged to file for bankruptcy before filing for divorce, in order to divide assets properly.
To read more on this topic visit: http://www.alllaw.com/articles/family/divorce/article62.asp
Or visit: http://bankruptcy.lawyers.com/consumer-bankruptcy/Personal-Bankruptcy-and-Divorce.html
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.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Fiscal Cliff Controls the Fate of Four Key Tax Breaks for Parents

Posted on by Admin

President Obama and Congress have yet to reach an agreement regarding the Fiscal Cliff. Many areas of the economy will be affected if we go over the Fiscal Cliff, one of them being a loss or lessening in certain tax breaks. Four of the tax breaks that will negatively affect parents’ financial state are the Child Tax Credit, Earned Income Tax Credit, Child and Dependent Care Credit and the American Opportunity Credit. Some families are at risk of losing money on more than one of the tax breaks, which will result in either the loss of thousands or owing thousands.
See below for the way each tax break will be affected if the country goes over the Fiscal Cliff:
1. The Child Tax Credit allows lower income families to claim up to $1,000 per every child under the age of 17. If the Bush and Obama tax cuts expire, the tax break will drop back to $500 and only extend to working families with three or more children. A family with only one or two children could end up paying $1,000.
2. The Child and Dependent Care Tax Credit allows working parents to claim up to $3,000 worth of expenses per child on up to two children. The parents could receive a maximum of 35 percent of this amount as a credit. If the Bush tax cuts expire, parents can claim up to $2,400 per child and receive a maximum of 30 percent as a credit.
3. The Bush and Obama administrations formulated the Earned Income Tax Credit, which allows married couples with a joint income below $50,270 and three or more children to receive up to $5,891. Obama also raised the maximum credit from 40 percent to 45 percent of earned income for families with three or more children. If the country goes over the Fiscal Cliff, the rate will fall back to 40 percent and the credit allotted by Bush’s Earned Income Tax Credit will drop approximately $5,000.
4. The American Opportunity Tax Credit was a part of Obama’s 2009 stimulus plan. The plan allows low-income families to claim up to $2,500 of credit for four years to help them pay for college fees. At the end of the year, Obama’s American Opportunity Tax Credit will expire and revert back to the Hope Credit, where the maximum credit will drop to $1,800 for only two years.
To read more on this story visit: http://money.cnn.com/2012/12/18/pf/taxes/parents-tax-breaks/index.html
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.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Three Major Credit Card Issuers to Refund Cardholders $435 Million

Posted on by Admin

The Consumer Financial Protection Bureau (CFPB) ordered three credit card issuers, Discover, American Express and Capital One, to refund a collective $435 million to cardholders. Refund dispersion is already underway to a reported six million consumers. The majority of these refunds will show up as credit on the appropriate cardholders’ accounts. If consumers qualify for a refund but are no longer a cardholder, they will receive a check in the mail. Qualified cardholders are expected to receive their refunds by the end of March 2013.
American Express has been ordered to issue $85 million in refunds to 250,000 customers for illegally high late fees and monetary rewards that were promised but never received. Capital One was ordered to issue $150 million in refunds to two million customers for pressuring and misleading them into buying products and services. These services included payment protection and credit monitoring. Discover was ordered to issue $200 million to 3.5 million customers who were coerced into purchasing credit protection products between December 2007 and August 2011.
To read more on this story visit: http://money.cnn.com/2012/12/17/pf/credit-card-refunds/index.html?source=cnn_bin
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.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

Economists Forecast Growth in 2013

Posted on by Admin

Economists are hopeful for a modest growth in 2013 as the housing market continues to stabilize. The economy saw a 2.2 percent growth during 2012 and economists expect a 2.1 percent growth rate during 2013. Although it is a good sign for economic recovery, it is at such a slow pace that it will not have much effect on the unemployment rate. Economists from the National Association of Business Economics (NABE) say they expect the unemployment rate to level off next year to around 7.7 percent.
Economists have seen a slight stunt in economic growth during the October-December quarter and believe Hurricane Sandy is the cause. The Gross Domestic Product (GDP) or the country’s output of goods and services has sharply declined during this quarter. However, if we go over the fiscal cliff in two weeks, this will likely cause even more damage to the economy. Economists say their anticipated growth rate is based on the hope that the federal government will find a solution to avoid tax and spending cuts.
NABE expects the growth in 2013 to include:
• 165,000 jobs added to the job market
• The inflation rate to increase 1.8 percent
• A 75 percent increase in long-term interest rates
To read more on this story visit: http://www.miamiherald.com/2012/12/17/3145564/economists-forecasting-moderate.html
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.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

House Speaker Proposes ‘Fiscal Cliff’ Negotiation with President Obama

Posted on by Admin

Last week House Speaker John Boehner proposed an increase on income tax for American’s making more than $1 million per year. Boehner said he would agree only if President Obama would agree to federal spending cuts. With a little more than two weeks until the fiscal cliff, Republicans are showing signs of flexibility on income tax rate increases for the upper class that they initially dismissed. Before Friday, Boehner publicly insisted that new revenue should come through closing loopholes and limiting deductions.
Experts say this is a good sign that the White House and the House of Representatives are serious about negotiations to avoid going over the fiscal cliff. If a deal is not met by December 31, 2012 spending cuts and tax increases will automatically go into effect. As a result, the U.S. will hit its debt ceiling by mid-February.
To read more on this story visit:
http://www.npr.org/blogs/thetwo-way/2012/12/16/167413853/boehner-floats-tax-rate-hike-for-highest-earners
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.