Tag: Kingcade & Garcia

Bankruptcy Law, Credit, Florida Bar, Timothy Kingcade Posts

How to Choose the Right Bankruptcy Attorney

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Finding the right bankruptcy attorney is critical to the outcome of your case. The first place you can start is by visiting your state bar’s website to find out if the attorney is a Board Certified Consumer Bankruptcy attorney. You can also find out how many years an attorney has been practicing in the field of bankruptcy law.

Look for important award distinctions, such as an AV Preeminent Rating by Martindale-Hubbell. This distinguished award is achievable only after admission to the bar for at least ten years and indicates the highest level of legal ability and ethics. It also indicates that an attorney’s colleagues and the judiciary perceive him to be at the pinnacle of professional success.

When you check credentials and affiliations, it provides you with an assurance that the attorney has practical knowledge of the state’s bankruptcy laws. Next, visit the attorney’s website to see if the site contains educational information about filing for bankruptcy, answers frequently asked questions, provides client testimonials and informative videos.

Do your research on the bankruptcy attorney you plan to meet with and look for the following qualities:

1.The attorney should discuss alternative options with you. Chapter 7 bankruptcy is a complete discharge of eligible debts, but it is not right for everyone.

2. The attorney should display a passion for the process. You should not hire an attorney to represent you in court who is indifferent about the process. Ask the attorney why he or she chose bankruptcy law and listen carefully to the response.

3. The attorney should understand you and your individual situation. Filing for bankruptcy can be a trying time, not only financially but emotionally. You need to find an attorney who possesses empathy and the willingness to listen to you.

4. Beware of discount bankruptcy attorneys. Finally, look out for an attorney who runs an extremely discounted rate on their bankruptcy services. These firms are commonly referred to as “bankruptcy mills” and crank out many cases at a time, not giving clients the one-on-one attention they deserve.

Click here to read more on how to choose the right bankruptcy attorney.

If you are in a financial crisis and are considering filing 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, 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, Timothy Kingcade Posts

FTC Shuts Down Fraudulent Affiliate Company

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The Federal Trade Commission (FTC) recently had a hand in shutting down a fraudulent company impersonating itself, called “FTC Credit Solutions.” The company was allegedly using false connections with the FTC to market credit repair services to Spanish-speaking consumers.

The company would contact consumers by phone or claim in advertisements on the radio or Internet that it was affiliated with or licensed by the FTC. The employees told consumers that they could remove negative information from their credit reports; guaranteeing customers their credit scores would be 700 or more within six months of service.

FTC investigators called the fraudulent company posing as consumers, and discovered employees were misrepresenting the company as “working with the Federal Trade Commission.” Employees also falsely promised they could “delete” or “get a pardon” for consumers’ debts.

In addition to making false statements about the affiliation with the FTC, the company allegedly charged consumers upfront fees for “credit repair services,” and sent false information to major credit bureaus. The company and its employees allegedly violated the FTC Act by misrepresenting their affiliation with the FTC. They also allegedly violated the Credit Repair Organizations Act by charging upfront fees for credit services.

Click here to read more on the FTC shutting down a fraudulent affiliate company.

If you are in a financial crisis and are considering filing 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, 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, Timothy Kingcade Posts

Student Loan Debt Delinquencies on the Rise

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Data collected by Equifax, one of the three major credit bureaus, showed that student loan debt delinquencies are continuing to increase while other forms of household debt are improving. The data from the fourth quarter of 2014 was collected from the New York Federal Reserve’s Consumer Credit Panel. Student loan debts that have been delinquent for more than 90 days have increased to 11.3%.

One of the reasons the Credit Panel cited was the rise in delinquent student loan debts is the fact that it is not dischargeable in bankruptcy. Unfortunately, the delinquencies are expected to continue increasing due to most borrowers forgetting that student loan debt is a secured debt. This means that student loans can be garnished from a borrower’s wages if they are not paid.

Student loan borrowers struggling with debt have options available to them and delinquency should be a last resort. Federal student loan borrowers offer several repayment options to best suit your needs. In addition, interest rates for private student loan borrowers are nearing all time lows. If borrowers have good credit scores, they may be able to refinance their loans.

Click here to read more on the increase in student loan debt delinquencies.

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 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 website at http://www.miamibankruptcy.com.

Bankruptcy Law, Foreclosures, Timothy Kingcade Posts

Underwater Mortgages Decline in South Florida

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Recent data collected by Zillow.com shows that underwater mortgages, meaning homeowners who owe more than their home is worth, are declining in South Florida. Sixteen percent of homeowners in Palm Beach County are currently underwater on their mortgages. The previous year there were twenty four percent underwater. Nineteen percent of Broward County’s mortgages are underwater, down from twenty five percent in the fourth quarter of 2014.

Home values are on the rise in South Florida and as a result, negative equity is declining since its peak of forty percent in 2011. Negative equity occurs when the value of an asset, such as a home, falls below the value of the outstanding loan balance.

Another factor that real estate experts attribute to the decline in underwater mortgages is the decline in foreclosures in South Florida this year. According to analysts, South Florida is recovering better than most markets across the country since the housing bubble burst in 2008.

Click here to read more about the decline of underwater mortgages in South Florida.

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.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

South Floridians Gaining Confidence in the Housing Market

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A recent survey conducted by TD Bank revealed twenty eight percent of South Floridians are “very” or “extremely” likely to purchase a home in the next year or so, compared with only 9 percent in 2014. The survey polled 159 residents of South Florida, but was part of a larger national poll of 1,450 homeowners who purchased homes in the past ten years.

According to TD Bank, South Floridians are “finally finding the confidence to buy again” after the recession. Another survey from Zillow.com showed that South Florida renters are also gaining confidence in the housing market. The survey found that more than 161,000 renters in Palm Beach, Broward and Miami-Dade counties said they plan to buy within a year. South Florida will be a competitive housing market this year, with home prices ranging between $250,000 and $400,000. Nationwide, residents of South Florida, San Jose and San Francisco were most confident in the housing market, according to Zillow.

Click here to read more on this story.

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.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

Government Debt Collectors Targeted for their Abusive Practices

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A recent CNN report found that special treatment is being given to debt collectors hired by government agencies. These collectors are charging steep fees and making threats, which include wage garnishment, foreclosure and even arrest. Other debt collection firms that are hired to go after credit card debt or auto loans are held accountable for such acts.

A senior member of the House Financial Services Committee is currently reviewing the report. He said he fears that low-income Americans are the most likely to suffer. The high fees leave many Americans unable to pay off their debts and afford their monthly bills.

The debt collectors are using power given to them by the government to pressure individuals into financial commitments they cannot afford. Unfortunately for consumers, the FTC admitted that the laws governing debt collection do not apply to the types of bills that government debt collectors pursue.

Click here to read more on this story.

If you are in a financial crisis and are considering filing 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, 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, Timothy Kingcade Posts

Following Obama’s Lead, Democrats Propose Bill to Relieve Student Loan Debt

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President Obama addressed the growing problem of student loan debt in a speech he gave on Tuesday at Georgia Tech. He spoke about his plans to make it easier for students to eliminate some of their student loan debt through bankruptcy. Two days later, thirteen democrats in the Senate introduced a bill backing the President’s plans called the “Fairness for Struggling Students Act of 2015.” The bill will treat student loans issued by private lenders the same as other types of private unsecured debt in bankruptcy. Changes made to the federal bankruptcy code in 2005 made it nearly impossible for struggling students to discharge their student loan debt.

Private student loans make up only 10% of all student loans. The other 90% are loans issued by the federal government. If the bill is passed, it would only account for the 10%. The Consumer Financial Protection Bureau estimates that there is $165 billion that stems from private student loans and approximately $1.2 trillion in total student loan debt.

President Obama and the Senate are targeting private student loans due to their high interest rates, lack of consumer protection and inflexible repayment options. The bill is the White House’s latest attempt to address the rapid increase in student loan debt in America. Plans have also been set up for borrowers to file complaints against loan servicers.

Click here to read more on the 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 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 website at http://www.miamibankruptcy.com.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

Rent Prices on the Rise

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Renting used to be considered a stepping stone to homeownership, but now it’s becoming a barrier, according to a new report from Zillow. The report showed rents across the nation have been on the rise for the past year. In September 2012 rent prices reached a peak of 6.3% after the housing market crashed. Since January 2014, rents have increased 3.3% across the U.S.  Some cities have even surpassed the national average. For example, Kansas City has more than doubled, increasing 8.5% since last year.

The report also showed that rents have grown at twice the pace of wages in the country since 2000, making it difficult for many Americans to afford their monthly bills. On average, Americans are spending approximately 30% of their income on rent, 5% higher than in the past.

Economists and real estate experts agree that rental affordability will continue to ‘deteriorate for the next two years.’ Both homeowners and renters will likely be affected since rental affordability tends to impact the housing market as a whole.

Real estate experts say it is sometimes better to buy than rent, but it largely depends on how long you plan to stay in the home. Nationwide, the ‘break-even horizon’ is around two years, but in some cities, like New York City, it can be as high as seven years. Breaking even, is when you are in your home long enough for ownership to be more cost-effective than renting. In Miami, for example, it takes just one year to break-even, according to real estate experts.

Click here to read more on this story.

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.

Bankruptcy Law, Credit, Timothy Kingcade Posts

President Obama Announces Changes for Student Loan Repayment

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President Obama recently signed a “student aid bill of rights,” which outlined an assortment of policy changes to make it easier on borrowers to pay back their student loans. It will require businesses that service student loans to ensure students know how much they owe, along with providing repayment options and helping students get back in good standing who are falling behind on payment.

In addition, President Obama has asked the Treasury and Education Departments and the Consumer Financial Protection Bureau to report by October 1, 2015 on whether or not bankruptcy laws or other laws should be amended to include student loans. Lenders have always resisted loosening bankruptcy standards for student loans. However, many believe that student loans should be eligible for discharge when students are burdened by heavy debt.

Federal student loan borrowers are eligible for discharge in bankruptcy court for borrowers with permanent disabilities. However, the review will focus on students who borrower from private lenders, who do not have the same protections as federal student loan borrowers.  According to the White House, approximately 40 million Americans have student loan debt and more than 70 percent of graduates with bachelor’s degrees have an average of $28,400 in student loan debt.

Click here to read more on Obama’s plans to change student loan debt repayment.

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 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 website at http://www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Bill would Force Banks to Maintain ‘Zombie’ Homes if Passed

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For years, homeowners who are being foreclosed upon have vacated the property before the foreclosure has been processed, often leaving the home in shambles. This has caused neighboring houses in those communities to lose significant value.

Currently, banks do not have a responsibility to maintain the properties until after the foreclosure is complete. This can leave homes vacant for months or even years. In an attempt to try and force banks and other mortgage lenders to maintain vacant properties during the foreclosure process, State Attorney General Eric Schneiderman plans to introduce a bill that would require not only maintenance from banks during the process of foreclosure, but allow homeowners to stay in their homes until ordered out by a judge.

The bill, entitled the Abandoned Property Neighborhood Relief Act would also create a registry of vacant properties to assist municipalities in enforcing local laws regarding property maintenance. Any fines collected would go into a fund to help hire more code-enforcement officers. Florida, New York and New Jersey hold the three highest rates of zombie properties, according to RealtyTrac.

Click here to read more on the Abandoned Property Neighborhood Relief Act.

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.