Foreclosure Defense, Foreclosures

Mortgage Foreclosure and Eviction Relief Extended by Governor DeSantis

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The order issued by Gov. Ron DeSantis offering Floridians facing eviction or foreclosure relief has been extended through July 1, 2020. The order was issued at the start of the coronavirus (COVID-19) pandemic to help individuals facing financial stress. Given that the economic fall-out from COVID-19 is ongoing, Governor DeSantis has extended this relief into mid-summer.

This news comes at a good time, as unemployment is still at a record high. Florida’s unemployment system has still been failing many who have applied for benefits. Thousands of individuals are still waiting to receive their unemployment so that they can pay necessary living expenses, arguably the most important of these being rent and mortgage bills.

Florida Super Lawyers, Kingcade Garcia McMaken

Miami Bankruptcy Attorney Timothy S. Kingcade Named a Florida Super Lawyer 7 Consecutive Years

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MIAMI – Managing Shareholder, Timothy S. Kingcade of the Miami-based bankruptcy and foreclosure defense law firm of Kingcade Garcia McMaken has been selected for inclusion in Florida Super Lawyers 2020, in the practice area of consumer bankruptcy. This is the seventh consecutive year Kingcade has been selected to the Florida Super Lawyers list (2014-2020). The designation means that he is a top-rated attorney as recognized by peers. The prestigious honor is awarded to only five percent of lawyers in the state.

Attorney Kingcade practices exclusively in the field of bankruptcy law, handling Chapter 7 and Chapter 13 filings for the Southern District of Florida.  As an experienced CPA and proven bankruptcy attorney, Timothy Kingcade knows how to help clients take full advantage of their rights under the bankruptcy laws to restart, rebuild and recover.

Florida Super Lawyers, Kingcade Garcia McMaken

Attorney Kristina Gonzalez of Kingcade Garcia McMaken Selected as a 2020 “Rising Star” by Florida Super Lawyers

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MIAMI – Attorney Kristina Gonzalez of the Miami-based bankruptcy and foreclosure defense law firm of Kingcade Garcia McMaken has been selected for inclusion in Florida Super Lawyers 2020 as a Rising Star in the practice area of consumer bankruptcy.

The list recognizes the top up-and-coming attorneys in the State of Florida. A select group of 2.5 percent of attorneys are named to the prestigious Rising Stars list.

Credit Card Debt, Debt Relief

Tips for Conquering High-Interest Debt

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Being saddled with debt is a stressful experience, but paying it down can be even more difficult, especially if that debt has a high interest rate. It helps to identify and prioritize these debts.

Of the types of high-interest debts, credit card debt is arguably the most common and most expensive to pay down. One reason credit card debt can be so hard to escape is the fact that it is revolving. What this means is the consumer has access to a continuing stream of credit, which can make it tempting to continue adding to the outstanding balance owed. In fact, there is nothing preventing the consumer from adding more to the debt until he or she reaches the credit limit.

Debt Relief, student loan debt, Student Loans

President Trump Vetoes Student Loan Forgiveness Bill

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A recent move by President Trump has student loan borrowers, as well as Veteran’s and Consumer groups, concerned and disheartened after he sided with Education Secretary Betsy DeVos and vetoed the bipartisan Borrower Defense to Repayment legislation.

The Borrower Defense to Repayment program is a student loan forgiveness program that was created during the Obama administration as part of an effort to provide debt relief for students who were taken advantage of by predatory colleges and for-profit universities.  Many of the borrowers who fell prey to these predatory tactics were veterans.

student loan debt

The Hidden Cost of Student Loan Debt

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According to a recent report from the Student Borrower Protection Center (SBPC), student loan debt may lead to additional interest paid on other forms of debt, including credit cards and mortgages. Borrowers may not realize just how much their debt can influence these other payments and may be paying higher prices without even realizing it.

The effects of student loan debt are far-reaching. Approximately 44 million Americans carry a collective $1.6 trillion in student loan debt. Most of these individuals also carry other forms of debt, the most common of these being mortgages and credit card debt. According to this SBPC study, these individuals are also forced to pay up to tens of thousands more in extra costs when purchasing a home or car or even using their credit card.

Credit Card Debt, Debt Collection, Debt Relief

How to Continue Paying Debt While Unemployed During COVID-19

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The coronavirus (COVID-19) pandemic has caused countless Americans to lose their jobs. More than 30 million Americans have filed for unemployment in the wake of the outbreak. Paying for basic expenses can be difficult enough but paying down debt while unemployed can seem impossible.

However, with proper planning and by taking advantage of opportunities available during this time, it can make things a little easier. The first step is to evaluate all expenses coming out monthly and create a budget to see what payments can be made. Additionally, the Coronavirus Aid Relief and Economic Security Act (CARES) provides some relief, as well, that can make this process easier.

Coronavirus, COVID-19, Debt Relief

How to Avoid a Big Tax Hit on Coronavirus Unemployment Benefits

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Man fills in Unemployment benefits application form.

A record 33 million American workers are currently collecting unemployment benefits amid the coronavirus (COVID-19) pandemic. And with these benefits come the inevitable tax repercussions. Here are some ways to lessen the impact.

Unemployment benefits received through the state, as well as the $600 coming from the CARES Act, provided by the federal government through July 31, are all considered taxable income. While Social Security and Medicare costs do not come out of unemployment benefits immediately like they do with normal paychecks, the recipient will be taxed by both the state and federal government. This can result in the person winding up paying in the long run when it comes to tax season if he or she has not paid enough tax throughout the year. However, this little “surprise” can be avoided by taking a few extra steps when receiving unemployment benefits.

Bankruptcy Law, Coronavirus, COVID-19

Bankruptcy and the Coronavirus: Help for Florida Small Businesses

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The coronavirus (COVID-19) pandemic has been hard on businesses. During the shutdown, countless South Florida businesses were forced to shutter or adjust to a new normal, bringing in significantly less income than before. Many of these business owners have also been compelled to make some tough decisions, including the decision on whether to proceed with bankruptcy.

Bankruptcy can be beneficial for businesses that are struggling during this difficult time. The bankruptcy framework and the automatic stay that occurs immediately upon filing for bankruptcy offers relief that individuals and business owners desperately need.

Bankruptcy Law

Bankruptcy Explained: The Qualifications and How to File

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Filing for bankruptcy can be an emotional and sometimes stressful process. However, enlisting the help of an experienced bankruptcy attorney can make the process painless and worry-free.  Many clients have little understanding about what is involved when they file for bankruptcy.  Bankruptcy is a legal proceeding where a judge and bankruptcy trustee review the financial situation of individuals or businesses who are not able to pay their financial obligations and discharge qualifying debts that they are no longer able to pay.

The Purpose of Bankruptcy

Bankruptcy is meant to give an individual a fresh financial start, allowing that person to wipe the slate clean. It also serves as a way to give the filer some sense of relief through the protection of the automatic stay, which means creditors are prohibited from continuing collection actions against the filer. This allows the person time to regroup, protect valuable assets and work with the bankruptcy trustee to eliminate their debts.