Miami bankruptcy attorney Archives - Page 77 of 106 - Kingcade Garcia McMaken, P.A. Bankruptcy Attorneys

How the Affordable Healthcare Act Had an Impact on Personal Bankruptcy Filings

Posted on May 4, 2017by Admin

As legislators and the President focus their efforts on the repeal and replacement of the Affordable Care Act, they may want to keep in mind the financial consequences. Since its inception, far fewer Americans have filed for personal bankruptcy. Personal bankruptcy filings are down 50 percent since 2010. Coincidentally, those same seven years represent the time frame when the 2010 federal law designed to provide health insurance coverage for the majority of Americans took effect.

Personal bankruptcy filings have dropped from 1,536,799 in 2010 to 770,846 in 2016. Medical bills remain the leading cause of personal bankruptcy. Unlike other debts, medical bills are often unexpected, involuntary, and can be for very large amounts.

Two other contributing factors add to the decline: an improved economy and changes to bankruptcy laws in 2005 that made it more difficult and costly to file. However, expanded health coverage played a significant role in the recent decline of personal bankruptcy filings.

Some of the most important financial protections of the Affordable Care Act apply to all consumers, whether they get their coverage through Obamacare or the private insurance marketplace. These provisions include mandated coverage for any pre-existing conditions, an end to annual and lifetime coverage caps. It also allows young people to be covered by a family policy until age 26.

The first attempt to repeal and replace the Affordable Care Act was in March, failed to gain enough Congressional support and never came to a vote. Then in April, details of a new replacement plan were released. Although President Trump has said that the new version will cover pre-existing conditions, the revised law gives states discretion to allow insurance companies to increase rates for consumers with an existing illness.

Click here to read more on this story.

Those who have experienced illness or injury and found themselves overwhelmed with medical debt should contact an experienced Miami bankruptcy attorney. In bankruptcy, medical bills are considered general unsecured debts just like credit cards. This means that medical bills do not receive priority treatment and can easily be discharged in bankruptcy. Bankruptcy laws were created to help people resolve overwhelming debt and gain a fresh financial start. Bankruptcy attorney 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

The High-Tech Methods Debt Collectors are using to Find you- and Your Money

Posted on May 3, 2017by Admin

Debt collectors are using some new high-tech tactics to collect and track down consumers. New software is allowing debt collectors to insert voicemails into phones by the thousands without a single ring, bypassing regulations that restrict how often they can call consumers.

Ringless Voicemails

Companies such as Stratics Networks maintain that because no phone calls are made, regulations prohibiting auto-dialed collection calls do not apply. But consumer protection attorneys disagree, arguing that just because the phone does not ring, does not mean it’s not a call. The Telephone Consumer Protection Act forbids debt collectors from harassing consumers.

Avatars

Animated cartoon characters show up in borrowers’ inboxes and smooth-talk borrowers into paying up. Collections managers design personalities of avatars, who speak multiple languages and weigh debtors’ credit scores when negotiating payment.

Speech Analytics

Advanced language-recognition programs not only track keywords during a conversation but identify the emotion of the borrower. Cursing out a debt collector? Prompts generated by CallMiner Inc. software help steer conversations back on track.

Supervisors using the speech-analytics company’s system see color-coded boxes on call-center computer monitors. Small green boxes represent routine conversations. During those calls, agents are reminded to recite mandatory “mini-Miranda” statements that inform consumers of their rights. But a box turns red and expands when a call contains expletives or long silences.

Skip Tracing, Spoofing and Scrubbing

In a practice called skip tracing, collection agencies search databases to find borrowers who have skipped out on paying their debts. Some collectors track debtors on Facebook and other social media sites. A Texas agency is linking Social Security numbers to social media accounts, raising privacy concerns. Another tactic known as spoofing, debt collectors insert local area codes in caller-ID displays, enticing the person being called to answer the phone. The Consumer Financial Protection Bureau is proposing to ban the practice.

Click here to read more on this story.

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 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

Tips for Seniors Struggling with Credit Card Debt

Posted on May 2, 2017by Admin

If you are a senior struggling with credit card debt, you are not alone. For the first time, middle-class households headed by someone 50-plus years of age carried more credit card debt on average than households of people younger than 50, according to a recent study by Demos National Survey on Credit Card Debt. Half of the respondents said they carried medical debt on their credit cards and a third said they used credit cards to pay for daily expenses.

Seniors carry credit card debt for a variety of reasons. Some are still paying off educational loans or their children’s educational loans. Many seniors are carrying credit card debt into retirement. The debt may have been management when they were working, but has become a burden when their income level drops. Oftentimes, medical debt compounds the problem, as health insurance only covers a portion of healthcare costs.

Here are some tips for seniors to help take control and manage their credit card debt:

Find a nonprofit credit counselor. The sooner you seek help, the better.
Contact your credit card company to see if you can work out a payment plan.
Adjust your lifestyle. Cut your expenses (i.e. – expensive cell phone plans, cable and Internet packages);
Get help with budgeting. Paying off your debts only works if your spending is under control. Know where your money is going every month. Making a few small changes to your monthly expenses can add up and give you more money to pay down debt.
For medical debt, talk with your doctor’s office to see what your options are. Avoid medical credit cards they may offer you; these come with very high interest rates, regardless of your credit score.
Consider a reverse mortgage. There are many ways you can use your home to get through difficult financial times, but there are risks associated with taking this route. Make sure this will solve your financial problem without adding to it.
Consider bankruptcy. If you are struggling with insurmountable credit card or medical debt, bankruptcy may be right for you. This option will allow you to reorganize your financial situation and discharge your debts if you cannot pay them. There are several different types of bankruptcy, so you want to carefully weigh your options. Many bankruptcy attorneys offer free consultations and will advise you on the best course of action.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Collection Call Scam Takes New Twist

Posted on May 1, 2017by Admin

The Better Business Bureau is warning consumers of a new debt collection scam. It involves a supposed debt collector informing you that a civil complaint has been filed against you- and scammers are doing an excellent job of making it seem real. They may rattle off specific details, such as the amount of the debt, a complaint case number and a phone number where you can follow up. If you end up calling that number, another phony representative will inform you of the same. To avoid a pending lawsuit you must pay up immediately via wire transfer or prepaid debt card, the scammer says.

Consumers can protect themselves from scams like this by knowing their rights.

Hang up: If you know that you do not have any outstanding loans, hang up. Do not press any numbers or speak to an “agent.”
Ask to be provided with an official “validation notice” of the debt: Debt collectors are required by law to provide this information in writing. The notice must include the amount of the debt, the name of the creditor and a statement of your rights. If the person calling you will not provide that information, hang up immediately.
Ask for the details: Get the caller’s name, company, street address, and telephone number. Confirm the collection agency is real.
Do not provide any personal information: Until you have verified the call, do not provide or confirm bank account, credit card or other personal information over the phone.
Check your credit report: Check with one of the three national credit reporting agencies (i.e. – Equifax, TransUnion, Experian) to determine if you have any outstanding debts or there has been any suspicious activity on your accounts.
Place a fraud alert on your credit report: If the scammer has personal information, place a fraud alert with the three national credit reporting companies. And to report a scam you can always go to the BBB Scam Tracker.

Related Resources:

http://www.bbb.org/council/news-events/bbb-scam-alerts/2017/04/scam-alert-collection-call-con-takes-new-twist/

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

Class Action Lawsuit May Offer Hope to Student Loan Borrowers in Bankruptcy

Posted on April 28, 2017by Admin

Student loan servicer, Navient has agreed to stop collection attempts on certain borrowers who filed for bankruptcy, providing at least temporary relief for thousands of people and signaling there may be a chance of discharging student loan debt in bankruptcy.

As part of an ongoing class-action lawsuit, Navient has voluntarily agreed to stop collection activities on loans used by borrowers who filed for bankruptcy after October 2005 and used the loans to attend non-accredited schools.

Under the voluntary agreement filed with the court this month, Navient can still continue to send borrowers monthly statements, but the company will no longer aggressively call borrowers multiple times a day.

Plaintiffs in the case allege Navient attempted to collect on loans that were discharged in bankruptcy, including calling their relatives and employers multiple times a day.

The judge overseeing the class-action has not made a ruling yet, so it is unclear if he believes the debts should be discharged. But in a hearing to discuss whether Navient would stop collection on the loans at issue in the case, he pushed the company to do so, expressing sympathy for the borrowers.

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, Debt Relief, Timothy Kingcade Posts

Who Actually Files for Bankruptcy? The Answer May Surprise You

Posted on April 26, 2017by Admin

Many people feel guilty about filing for bankruptcy, but the reason they file is often beyond their control. The majority of people who file for bankruptcy do so because they lost their jobs, became sick or had a medical emergency, or got a divorce. Financial mismanagement is becoming a less common factor in bankruptcy filings, while job loss is one of the biggest factors.

Even if someone is able to get a new job after being laid off, oftentimes they are already too far behind on their mortgage, car and credit card payments, and their debt spirals. Exorbitant medical bills are another factor that are out of a family’s control. Even with health insurance, there are still out-of-pocket expenses and co-pays that can add up quickly.

Divorce causes two incomes to be taken down to one, with separate homes, additional bills and possible child support payments. Predatory lending and the misuse of credit during these desperate times can play a role in consumer bankruptcy filings.

Chapter 7 bankruptcy allows you to discharge your debt and get a fresh start. Common categories of dischargeable debt include:

Credit card debt (including overdue and late fees)
Collection agency accounts
Medical bills
Personal loans from friends, family, and employers
Utility bills (past due amounts only)
Dishonored checks (unless based on fraud)
Student loans (only if undue hardship can be proven)
Repossession deficiency balances
Auto accident claims (except those involving drunk driving)
Business debts
Money owed under lease agreements (includes past due rent)
Civil court judgments (unless based on fraud)
Tax penalties and unpaid taxes past a certain number of years
Attorney fees (except child support and alimony awards)
Revolving charge accounts (except extended payment charges)
Social security over-payments, and
Veterans’ assistance loans and over-payments.

In most cases, Chapter 7 bankruptcy filers automatically receive a discharge at the end of their case. A discharge releases you from personal liability for the debt and prevents the creditor from taking any collection actions against you. In other words, you are no longer legally required to pay any debts that are discharged. In Chapter 7, the court usually grants the discharge 60 days after the 341(a) Meeting of Creditors. Typically, this means you will obtain a discharge about four months after filing your Chapter 7 bankruptcy petition.

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.thenewsstar.com/story/money/2017/04/21/who-files-bankruptcy-answer-surprise-you/100565822/

http://www.nolo.com/legal-encyclopedia/debt-discharged-chapter-7-bankruptcy.html

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

What happens when credit card companies sell your debt?

Posted on April 25, 2017by Admin

Barclaycard sold $1.6 billion of credit card balances in the first quarter of 2017 to the personal-loan company, Credit Shop Inc. Oftentimes, the accounts that are sold are ones that the card issuer has determined to be too risky for its business or are already in delinquency. In these type instances, a card issuer can sell the account balances for pennies on the dollars.

Here is what you need to know if your credit card company sells your debt.

The reasons card issuers buy and sell debt. Some debts are more “reliable” than others. For this reason, cardholders pay widely different interest rates, depending on how risky the lender judges them to be. “Subprime” borrowers tend to pay substantially higher interest rates to make up for the possibility that they might not be able to pay back the debt.

How will you know if your debt has been sold? In many you will only find out if your debt has been sold when you hear it from the new owner or a debt collector calls you and demands payment.

What if a debt collector calls? If you receive a call from a debt collector, the Fair Debt Collection Practices Act protects you from abuse and harassment. A debt collector is not allowed to call you excessively or make any threats. They are also prohibited from calling you before 8 a.m. or after 9 p.m. and cannot misrepresent the amount you owe. By law, you have the right to demand documented proof of the existence of the debt and the amount you reportedly owe. This request must be made in writing within 30 days of the first contact from a debt collector. During the time it takes to investigate and reply to your request, all calls from the debt collector must stop.

You also have the right to request that all future contact be made in writing. This can prevent disruptive and embarrassing calls at home or at work. You have the right to sue if a debt collector violates any of these rules.

What responsibilities do credit card companies have? Under the federal CARD Act, which went into effect in 2010, credit card companies are required by law to give cardholders 21 days from the date the statement mails to make a payment. Credit card companies are also required to provide a 45-day written notice before any rate increases. If you receive this notification, consider paying off the account if you are able to or transferring your balance to a low-interest credit card or zero-percent interest card, which overtime will be less costly to repay.

Related Resources:

http://www.nasdaq.com/article/what-happens-when-credit-card-companies-sell-your-debt-cm776572

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

Student Loan Forgiveness Letters May be Invalid

Posted on April 20, 2017by Admin

More than 550,000 student loan borrowers who signed up for a federal program that promised to repay their student loans after they work 10 years in a public service job may be invalid, according to the Department of Education.

In a court filing last week, the Education Department suggested that borrowers could not rely on the program’s administrator to say accurately whether they qualify for student loan debt forgiveness. Even more appalling, the thousands of approval letters sent out by FedLoan Servicing are considered to be non-binding and can be rescinded at any time.

The filing adds to questions and concerns about the student loan forgiveness program, which offered major benefits and incentives for student loan borrowers who took public service jobs instead of more lucrative work in the private sector.

The American Bar Association and several borrowers have filed suit in the U.S. District Court in Washington against the department. The plaintiffs in the case held jobs that they initially were told qualified for the debt forgiveness program; only later to find out the decision was reversed. The lawsuit seeks to have their eligibility for the forgiveness program reinstated.

The student loan debt forgiveness program covers people with federal student loans who work for 10 years at a government or nonprofit organization, and includes public school employees, museum workers, doctors at public hospitals and firefighters. The federal government approved the program back in 2007. The first potential beneficiaries of the program reach the end of their 10-year commitment this October.

Approximately 25 percent of the nation’s workforce may qualify for the program, according to the Consumer Financial Protection Bureau.

Click here to read more on this story.

Debt Relief, Timothy Kingcade Posts

How to Spot a Real IRS Debt Collection Call from a Scam

Posted on April 18, 2017by Admin

The IRS recently announced that it will be making collection calls to collect on delinquent taxes, something they maintained for years would never happen. Not surprisingly, scammers are making the most of the opportunity. According to the IRS, losses have mounted to more than $20,000,000, as a result of the IRS Imposter Scam.

If you receive a call from someone claiming to be from the IRS, consider these important tips to determine if the call is real or a scam.

There are only four authorized firms nationwide, which include:

CBE Group of Cedar Falls, Iowa;
Conserve of Fairport, N.Y.;
Performant of Livermore, Calif.; and
Pioneer of Horseheads, N.Y.

If you owe taxes, only one of these firms will contact you.
You likely know who you are. You will not receive a call if you pay your taxes on-time and regularly. If you are delinquent in tax payments, you will receive multiple written notifications from the IRS, before your case is turned over to one of the listed debt collection firms.
The IRS will send a letter to notify you that your case has been turned over to one of these companies. The collection company will also send you a letter regarding their authorization to call on behalf of the IRS.
The company will not ask for payment to be made to them, nor will they ask for payment on a Money Card.
These companies will not threaten you.

If you are still unsure if you have unpaid tax debts from previous years, you can go to IRS.gov and check your account balance. If the account balance says zero that means nothing is due, and you should not be receiving calls from the IRS or one of these collection companies.

Click here to learn more on the IRS Imposter Scam.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Miami Bankruptcy Attorney Timothy S. Kingcade Receives Prestigious AVVO Clients’ Choice Award 2017

Posted on April 11, 2017by Admin

Managing Shareholder, Timothy S. Kingcade of the Miami-based law firm of Kingcade & Garcia, P.A. (www.miamibankruptcy.com) was recently honored with the 2017 AVVO Clients’ Choice Award. In order to achieve this honor, an attorney must have received five or more exceptional client reviews for the same year.

One of attorney Kingcade’s recent clients had this to say on AVVO: “I went to Kingcade & Garcia for information about a pending home foreclosure. After assessing my finances, Mr. Kingcade suggested bankruptcy options to protect my home. I appreciate the fact that he has a background in accounting and law. This allows him and his team to see the big “picture” in what is best regarding the order in which divorce, bankruptcy, and foreclosure options should be filed. Kingcade is very knowledgeable regarding taxes and other financial issues. He was able to help me with restoring my credit, advising with my divorce to protect my assets, and directed me in the right direction to save my house. I have already recommended his office to 2 other friends going through similar experiences.”

Attorney Timothy S. Kingcade founded the law firm Kingcade & Garcia, P.A. in 1996. He has been dedicated to helping thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. Timothy is also a certified public accountant (CPA), which allows him to better understand tax-motivated bankruptcy cases against the IRS. Timothy’s vast experience and expertise in the area of bankruptcy law allow him to know what bankruptcy trustees in the Southern District of Florida are looking for, preventing his clients from some of the pitfalls that can lead to the dismissal of a bankruptcy claim.

Miami-based Kingcade & Garcia, P.A. was established by managing partner and attorney, Timothy S. Kingcade in 1996. The firm represents clients throughout the State of Florida in Chapter 7 bankruptcy and foreclosure defense. The firm is committed to providing personalized service to each and every client. The office environment and the service provided are centered on a culture of superior client care. Additionally, all attorneys and staff members at the firm are bilingual speaking Spanish.