Tag: bankruptcy attorney

Bankruptcy Law, Credit, Debt Relief, Foreclosures, Timothy Kingcade Posts

What the Fed Rate Hike Means for Homebuyers

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Last week the Federal Reserve increased its benchmark interest rate by one-quarter of a percentage point. This marked the second increase in three months and the third increase since 2015. As a result, mortgage rates have already increased. The average rate of a 30-year fixed mortgage jumped to a 2017 high of 4.21 percent, up from 3.68 percent last year.

What this means for house hunters is that buying a home is going to be more expensive. “That is going to create a bit of sticker shock for some buyers looking to buy this spring,” said Len Kiefer, deputy chief economist at Freddie Mac.

Fortunately, the changes in the Federal Reserve benchmark interest rate are somewhat predictable. The market expects two more Fed rate hikes before the end of the year. However, another increase is not likely in the next few weeks.

Choosing the right attorney can make the difference between whether or not you can keep your home. 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. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

Related Resources:

http://money.cnn.com/2017/03/15/pf/fed-rate-hike-mortgage-rates/index.html?iid=SF_LN

http://www.cnbc.com/2017/03/15/fed-raises-rates-at-march-meeting.html

Credit, Debt Relief, Timothy Kingcade Posts

Consumer Credit Scores to Exclude Some Debt and Liens Starting July 1st

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The nation’s three largest credit-reporting agencies will soon exclude tax liens and some civil debts from their reports. The change by Equifax, Experian and TransUnion will take effect July 1st. According to the Consumer Data Industry Association, it is part of a plan to ensure that consumer identifications in the data are accurate and current.

The provision is likely to improve millions of American’s credit scores. If reports on those tax liens and civil debts do not include the consumers’ names, addresses and Social Security number, they will not be reported.  Additionally, the records will not be included without courthouse visits to obtain newly filed and updated public records at least every 90 days.

However, there are some controversies surrounding the changes. Although they are likely to help consumers appear more credit-worthy, the updated policies could potentially make loan-screening more difficult for lenders.

Click here to read more on this story.

If you are in financial crisis and considering filing for bankruptcy, 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, 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 website at www.miamibankruptcy.com.

 

Bankruptcy Law, Credit, Debt Relief, Student Loans, Timothy Kingcade Posts

Bipartisan Bill Could Help You Pay Off Your Student Loans

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A new bill in Congress aims to encourage companies to offer help to their workers in paying off their student loan debt. Earlier this month, a bipartisan group of 31 lawmakers sponsored legislation that would make employer contributions to their staff’s student loan payments tax deductible. It would be similar to contributions companies make to their workers’ 401(k)s.

“Some companies are already offering this benefit because they see the advantage it gives them when recruiting and retaining younger employees, but we want to encourage more to participate so we can help both struggling graduates and our economy,” said Representative Rodney Davis, a Republican from Illinois who introduced the bill along with Representative Scott Peters, a Democrat from California.

Consulting firm PwC was one of the first companies to initiate a student loan benefit program last year. The company offers new employees $1,200 a year toward their loans for up to six years. Since then, several other companies have launched similar plans.

“Adding tax relief to the equation could elevate student loan assistance alongside 401(k) contribution as one of the most valuable financial benefits a company can offer its workers that directly impact their quality of life today,” said Scott Thompson, the CEO of Tuition IO, a company that helps employers put student loan benefit plans in place.

Click here to read more on this story.

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. 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, 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 website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Woman Alleges SunTrust Bank Invaded Privacy with Collection Calls

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Patricia Fonnegra, a Florida resident, filed a complaint on March 7th in the U.S. District Court for the Southern District of Florida against SunTrust Bank. Fonnegra stated in the complaint that the debt collector was in violation of the Telephone Consumer Protection Act with frequent calls. The TCPA was enacted to protect consumers from “robocalling” and regulate telephone practices.

Fonnegra claimed that she suffered damages in 2016 after receiving multiple collection calls from the defendant. In the complaint, the plaintiff holds SunTrust Bank responsible because the defendant allegedly invaded her privacy and harassed her with frequent calls.

Fonnegra requested a trial by jury and seeks statutory damages of $1,500, enjoin the defendant, all legal fees and any other relief as the court deems just.

If you are in financial crisis and considering filing for bankruptcy, 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, 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 website at www.miamibankruptcy.com.

Related Resources:

http://flarecord.com/stories/511088056-woman-alleges-suntrust-bank-invaded-privacy-with-collection-calls

http://www.natlawreview.com/article/fcc-approves-new-tcpa-rules-telephone-consumer-protection-act

Bankruptcy Law, Credit, Debt Relief, Student Loans, Timothy Kingcade Posts

Government Sues America’s Largest Student Loan Company

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The Washington state Attorney General filed a lawsuit against student loan company, Navient on Wednesday. Navient is formerly part of the private student loan company, Sallie Mae. In a separate lawsuit, Illinois Attorneys General named both Navient and Sallie Mae.

According to Richard Cordray, the director of the Consumer Financial Protection Bureau (CFPB), “At every stage of repayment, Navient chose to shortcut and deceive consumers to save on operating costs.”

Navient separated from Sallie Mae in 2014 and is currently the largest student loan servicer in the country. The company reportedly handles more than 12 million student loan accounts. Approximately half of the borrowers have federal loans and the other half are private. According to the CFPB, one in four student loan borrowers have Navient as their servicer. 

The CFPB’s allegations claim that Navient steered struggling borrowers toward paying more than they had to, and misallocated borrowers’ payments when they were made across multiple loans. It also alleges that in some cases, Navient erroneously reported borrowers had defaulted on their loans, damaging their credit score.

In the lawsuit, the government claims that Navient also made it more difficult for borrowers to enroll in an income-driven repayment plan, which can be used to lower their monthly payment if they’re struggling to make payments.

Click here to read more on this story.

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. 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, 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 website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Debt Relief, Foreclosures, Timothy Kingcade Posts

How Trump Policies Could Affect the Elderly and Disabled

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President-elect Donald Trump is set to take office tomorrow, January 20th at 12:00 PM. During his presidency, economists anticipate several policy changes that will significantly affect the elderly population, those who are disabled and those with special needs. Here are a few ways those changes might affect you.

Social Security and Medicare

Although President-elect Trump has consistently stated that the Social Security and Medicare programs will remain intact, both face an impending insolvency. As one of their proposals to keep those programs solvent, Trump and Congressman Paul Ryan are promoting an approach that will include some form of Social Security and Medicare privatization.

The Cost of Health Care 

There is a mounting fear among Americans about the cost of health care and long-term care. Restrictions on benefits and legislative changes that restrict or limit access to government programs, such as Medicaid, can only heighten such fears.

Block Grant Proposal 

Medicaid is currently administered at the federal level by the Center for Medicare and Medicaid Services. Each state has its own state Medicaid Plan, however, there are mandates and constraints. The proposed grants would issue each state a certain number of Medicaid dollars and the state would in turn, decide how to use and spend those dollars. In some states, little would change, however in other states the changes could be profound for those who rely heavily on Medicaid.

Trump has also stated that there are a few policies from Obama’s Affordable Care Act that he intends to keep, including:

  • Allowing young adults to remain on parental coverage;
  • Protecting people with pre-existing medical conditions;
  • Closing the Medicare prescription drug coverage gap.

If you are in financial crisis and considering filing for bankruptcy, 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, 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 website at www.miamibankruptcy.com.

Related Resources:

http://www.wealthmanagement.com/estate-planning/how-trump-policies-could-affect-elderly-and-those-special-needs 

https://www.yahoo.com/news/pointed-questions-await-trumps-pick-health-secretary-085931872–politics.html 

Bankruptcy Law, Credit, Debt Relief, Student Loans, Timothy Kingcade Posts

The U.S. Government is Collecting Student Loans it Promised to Forgive

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In recent years, the U.S. Department of Education has taken on two different roles in the lives of indebted former college students. The same bureaucracy must collect on the $1.1 trillion in student loans in an attempt to protect taxpayer dollars and it also oversees the nation’s largest-ever effort to forgive student loan debt.

The government’s dual roles have since caused problems for former Corinthian Colleges Inc. students. Tens of thousands of these former students had their student loans cancelled and according to the Obama administration they were supposed to be reimbursed in full. However, the Department of Education has been actively collecting on federal student debt owed by the former students.

Corinthian Colleges Inc. filed for bankruptcy in 2015 under a cloud of fraud investigations. As a result, government officials had reason to believe that some of these students’ debts should be forgiven. However, former students have come forward saying that they are still being approached for payment on their loans. When companies have made similar attempts at collecting on debt that is not actually owed in the past, they have been charged by federal and state regulators with violating the law.

According to the former director of the Federal Trade Commission’s consumer protection division, David Vladeck, “There’s no clear-cut reason why there shouldn’t be automatic loan forgiveness for people who otherwise would have a legal claim for deceptive conduct against this now-bankrupt company.” He went on to say, “These kids by and large have been scammed, and the Department of Education in some sense is continuing that harm by making them jump through hoops to get the relief to which they are entitled.”

Click here to read more on this story.

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. 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, 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 website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

What to Consider Before Paying Christmas Bills with a Tax Refund Loan

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If you are planning on paying off your Christmas debt with your tax refund check, you may want to think again. The Internal Revenue Service (IRS) announced that some taxpayers will experience delays at the beginning of tax season in 2017 due to a new law that requires the IRS to hold refund checks until February 15th. There may also be delays due to weekends and the President’s Day holiday. As a result, the IRS cautions taxpayers not to count on their refund checks until the week of February 27th.

However, some taxpayers are planning to use tax Refund Anticipation Loans (RALs) or Refund Anticipation Checks (RACs) to tide them over between the holidays and tax season. If you are planning to do so, here are a few things to keep in mind:

  • Interest Rates: In most RAL agreements, the taxpayer agrees to repay the RAL at tax time, plus interest. Some states limit the amount of interest that a lender can charge, however, in some instances, the annual percentage rate (APR) of an RAL can exceed triple-digits.
  • Fees: In addition to high interest rates, RALs oftentimes come with hefty fees that can diminish the remainder of your refund check. According to the National Consumer Law Center, some add-on fees they observed in a 2013 report included application fees; data and document storage fees; document processing fees; e-filing fees; service bureau fees; transmission/software fees; and technology fees.
  • Uncertainty: Keep in mind that you have to repay the entire amount of the loan even if you receive less than you anticipated. This means that you have to estimate the amount you will receive back on your taxes when taking out a loan.

 

Click here to read more on this story.

If you are in financial crisis and considering filing for bankruptcy, 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, 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 website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

How to Buy Your Kids Gifts that Keep on Giving

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According to Personal Capital, Americans plan to spend an average of $936 shopping for friends and family this holiday season. However, parents can ensure their children’s gifts are long-lasting by gifting in these four unique ways this holiday season.

  1. The Gift of Experience: One of the best investments you can make for your children is giving them the gift of experience. A recent study conducted at San Francisco State University analyzed information from 154 students at the university who recently purchased items and experiences. The study found that the happiness from purchasing an item faded over time, but the happiness and memories from an experience lasted longer and contributed to more happiness.
  2. The Gift of Health: Whether you buy a bike, skateboard, kayak, snow board, running shoes or anything else that can keep your child active, you are making a good investment. According to the CDC, there are over 12 million children who are obese in America. One of the best things you can do for your child is encourage them to exercise.
  3. The Gift of Responsibility: Teaching your child to be responsible can be a challenge. If your child has been asking for a pet, this is a good way to teach them responsibility. If your child is interested in cooking, you can gift some kitchen gadgets so that they can start helping out in the kitchen.
  4. The Gift of Compound Interest: It is never too early to start thinking about your child’s future. Investing on your child’s behalf is a great way to do so. Look into different ways you can invest on your child’s behalf. This is a great way to give a gift that is long lasting and will help them down the road when they are going to college or buying a house.

 

Click here to read more on this story.

If you are in financial crisis and considering filing for bankruptcy, 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, 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 website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Miami-based Catholic School Ordered to Release Student Transcripts

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Emergency Motion Granted for Kingcade & Garcia Clients after School Violates the Bankruptcy Automatic Stay

On December 21, 2016, Miami bankruptcy attorney Timothy S. Kingcade of Kingcade & Garcia, P.A. (www.miamibankruptcy.com) obtained an Order from the Bankruptcy Court compelling Belen Jesuit Preparatory School, a Miami-based Catholic school, to release educational transcripts in compliance with the automatic stay and to pay his clients’ legal fees.  Mr. Kingcade filed an emergency motion arguing the school willfully and intentionally violated the automatic stay by refusing to release the transcripts.

“Bankruptcy has its origins in the Old Testament and while the school may ignore the edicts of its own teachings, it may not ignore the bankruptcy law inspired by those philosophies,” said Kingcade. “The school evidenced no intention to abide by the automatic stay and as a result, my clients have been forced to seek relief from the court,” he continued.

Mr. Kingcade’s clients filed for Chapter 7 bankruptcy relief on December 12, 2016. On December 13, 2016, a notice of the filing and a request for the release of transcripts for their two children was sent to Belen Jesuit Preparatory School. The school had actual knowledge of their bankruptcy filing and refused to release the requested transcripts. The older of his clients’ children is in the process of applying for college and the withholding of the transcripts could result in his college application being deemed incomplete for consideration.

The school hired counsel and sought to mitigate the exposure for the school’s violation of the federal bankruptcy laws. Mr. Kingcade ultimately persuaded the school to release the transcript. The parties agreed to an order granting the emergency motion. The order requires Belen Jesuit Preparatory School to immediately release transcripts and / or final grade reports for the two children and for it to continue to cooperate with his clients and release future transcripts upon request. The school is also required to pay Mr. Kingcade’s legal fees.

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Miami-based Kingcade & Garcia, P.A. was established by managing partner and bankruptcy attorney, Timothy S. Kingcade in 1996. The firm represents clients throughout the State 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 for the financially disenfranchised. 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.