Timothy Kingcade Archives - Kingcade Garcia McMaken, P.A. Bankruptcy Attorneys

Credit Card Debt Tops $1.28 Trillion in U.S.

Posted on February 24, 2026by Admin

Americans owe $1.28 trillion on their credit cards, according to a new report by the Federal Reserve Bank of New York on household debt. That’s a 5.5% jump from the previous year. Near the end of the year, credit card debt typically increases during peak holiday shopping season.

Credit cards are one of the most expensive ways to borrow money today. Approximately, 175 million people in the U.S. have credit cards, and while some pay their bills in full each month, roughly 60% of credit card users carry a balance from one month to the next, according to the New York Fed.

A separate report by the debt management company, Achieve, revealed that more than half, 55% of consumers carry credit card balances to cover essential expenses.

There’s also a growing number of homeowners falling behind on their mortgage payments. Increased mortgage delinquency rates have been more pronounced in low-income areas.

Housing affordability challenges are not only weighing on ‘would-be’ home buyers, but also a growing share of existing homeowners, new data suggests. Late-stage mortgage delinquencies — those with payments at least 90 days past due — rose 18.6% in December from a year earlier, according to new research from credit scoring company, VantageScore.

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If you have questions on this topic or are in a financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can assist you and address 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 McMaken 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 McMaken website at www.miamibankruptcy.com.

Timothy S. Kingcade Receives AV Rating and Client Champion Platinum Award

Posted on February 18, 2026by Admin

Bankruptcy Attorney Timothy S. Kingcade Receives the Preeminent AV Rating & Client Champion Platinum Award from Martindale-Hubbell for 2026

MIAMI (February 18, 2026)– Managing Shareholder, Timothy S. Kingcade of Kingcade Garcia McMaken has received the preeminent AV rating for 2026 from Martindale-Hubbell, joining a select group of lawyers recognized for their legal ability and professional ethical standards. In addition, he has earned the 2026 Client Champion Platinum Award.

The Client Champion Platinum Award from Martindale-Hubbell is the highest client-focused recognition, given to attorneys who have earned at least 10 verified client reviews with an average score of 4.5 or higher (out of 5.0), demonstrating exceptional client service and satisfaction, and is presented alongside the peer-rated AV Preeminent rating for overall excellence.

“I am honored to have received the preeminent AV rating and Client Champion Platinum Award from Martindale-Hubbell,” said Timothy S. Kingcade. “This is a testament to the commitment that I make to each one of our clients and the ethical standards we uphold as a law firm. It is gratifying to know that my colleagues respect and acknowledge my legal abilities and the continued dedication to our clients and the profession.”

The Martindale-Hubbell AV rating designates the highest level of professional excellence and ethical standards an attorney can receive. This rating establishes that an attorney’s colleagues and judiciary perceive him to be at the pinnacle of professional success.

Martindale-Hubbell Peer Review Ratings are an objective indicator of a lawyer’s ethical standards and professional ability, derived from evaluations of lawyers by members of the bar and the United States judiciary. The Legal Ability ratings are based on performance in five key areas, which include: Legal knowledge, analytical capabilities, judgment, communication ability, and legal experience.

Attorney Timothy S. Kingcade practices exclusively in the field of bankruptcy law, handling Chapter 7 filings, and foreclosure defense cases for the Southern District of Florida. As an experienced CPA as well as a proven bankruptcy attorney, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws, which protect them and achieve desired results.

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Miami-based Kingcade Garcia McMaken, 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 McMaken 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. For more information, visit https://www.miamibankruptcy.com/ or call (305) 285-9100.

Bankruptcy Law, Legal Awards

Timothy S. Kingcade Named a Top 3 Bankruptcy Lawyer in Miami for 2026

Posted on January 21, 2026by Admin

MIAMI (January 17, 2026)– Managing Shareholder, Timothy S. Kingcade of the Miami-based bankruptcy law firm of Kingcade Garcia McMaken has been named one of the Top 3 bankruptcy lawyers in Miami, FL by Three Best Rated®. Kingcade obtained the highest score out of all the nominees, and it marks the 11^th consecutive year he has received this honor.

“I am honored and humbled to be recognized as a Top 3 Bankruptcy Lawyer by Three Best Rated 11 years in a row,” said Timothy S. Kingcade. “Beyond managing the legal aspects, we provide our clients with protection and peace of mind during the bankruptcy process. We know what our clients are going through when they come into our offices, and we treat them with the upmost care and respect during their most challenging times.”

Three Best Rated® was created with a goal of finding the top three local businesses, professionals, restaurants, and health care providers in each city. The selection process involves a rigorous 50-Point inspection and includes everything from evaluating the attorney’s reputation, history, client reviews, ratings, complaints, satisfaction, trust, pricing, and overall excellence, forming the basis of the TBR Inspection Score.

Attorney Timothy S. Kingcade founded Kingcade Garcia McMaken in 1996, a prominent law firm that handles a substantial number of bankruptcy filings each year. Timothy, along with his dedicated team, provide comprehensive legal representation to clients throughout South Florida.

Kingcade Garcia McMaken is committed to helping clients navigate the complexities of bankruptcy law. Their experienced attorneys guide individuals in understanding recent changes in bankruptcy regulations and the critical distinctions between filing under Chapter 7 or Chapter 13 bankruptcy. The firm also handles foreclosure cases alongside bankruptcy matters.

Throughout South Florida, Kingcade Garcia McMaken has earned a solid reputation as a dependable and effective advocate for clients from diverse backgrounds. The firm’s commitment to providing personalized service is evident, with their attorneys taking the time to clearly explain the available options based on each client’s unique circumstances. The personalized approach ensures that clients receive the individual attention and care they deserve during the legal process.

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Consumer Bankruptcy, Debt Relief

Debt Relief vs. Bankruptcy in 2025

Posted on November 20, 2025by Admin

Debt relief and bankruptcy can offer real financial help in a challenging economic environment- but there are a few things you should know about each option.

American households are struggling with debt like never before, as total credit card balances have soared past $1.21 trillion nationally. With credit card interest rates approaching record highs and the cost of living rising, many people have found themselves trapped in a cycle of making minimum payments.

Amid the financial pressure, people are exploring different options to regain control over their debt.

Debt relief programs, such as credit card settlement plans, are increasingly accessible, while bankruptcy remains an option for those facing overwhelming debt.

Each option has unique benefits, costs, and long-term implications.

Debt relief programs only address unsecured debt, like credit cards, personal loans, and medical bills. These type programs cannot help with secured debts, like a mortgage or car loan.

Bankruptcy, on the other hand, can wipe out certain unsecured debts entirely, and in some cases, provide options for addressing secured debt. Understanding exactly what you owe, and to whom is the first step in deciding which approach to choose.

Debt relief programs work best if you have a steady income that allows you to make monthly payments. If your earnings are inconsistent or barely cover your living expenses, these programs can prove challenging to sustain.

For those whose income will not support repayment, bankruptcy provides a better option. However, post-bankruptcy budgeting is essential to avoid falling back into debt.

Choosing between bankruptcy and debt relief is a personal decision influenced by your total debt, income, credit outlook, and long-term goals.

Debt relief can offer structured repayment and lower interest costs without the long-lasting credit hit of bankruptcy, but it requires discipline and consistent payments. Bankruptcy, however, can immediately wipe out your debt and provide you with a fresh financial start when debt becomes unmanageable.

As you weigh your options, it is important to review each one carefully, ideally with a financial counselor, certified debt specialist, or experienced bankruptcy attorney before deciding.

Click here to read more on this story.

Auto Loan Debt

Upside-Down Car Loans Reach All-Time High

Posted on November 9, 2025by Admin

Nearly 1 in 4 vehicle trade-ins toward new car purchases with negative equity carry more than $10,000 in debt, according to Edmunds. The 2025 Q3 data from the online resource for automotive inventory and information, show a growing number of owners are trading in vehicles worth less than what they owe, and the debt they are rolling over is growing.

The latest data reveals:

More than one in four new vehicle trade-ins are underwater, a four-year high.
Americans with upside-down car loans owe more than ever.
Nearly one in three underwater car owners owe between $5,000 and $10,000 in debt — a new record high.
A record share of underwater car loans are carrying five-figure debt.

Rolling over debt drives higher monthly payments. To highlight the financial effect of rolling negative equity into a new vehicle purchase, Edmunds analysts compared the costs for consumers who financed a new vehicle involving a trade-in with negative equity in Q3 against the industry average for all financed new vehicles. The average monthly payment for buyers who rolled negative equity into a new loan was $907 in Q3, down slightly from Q2’s high of $915 and $140 more than the overall industry average monthly payment of $767.

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If you have 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 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 McMaken 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 McMaken website at www.miamibankruptcy.com.

Bankruptcy Trends, Credit Card Debt

More People Filing for Bankruptcy Have Retail Credit Card Debt

Posted on July 1, 2025by Admin

Store credit cards, which most major retailers offer, carry a much higher interest rate than traditional credit cards. Since 2021, the number of people with retail credit card debt that file for bankruptcy has been rising at a faster rate than new filings overall, according to proprietary data and analytics from Stretto.

Between 2023 and 2024, new consumer bankruptcy filings rose 5.8% but the number of cases that included retail credit card debt rose 12%, a CNBC analysis of the data shows.

Click here to read more on this story.

While each consumer’s financial situation is different, there are ways to determine if your credit card debt is too high. Consider your answers to the following questions:

Is your credit card debt impacting your financial and emotional health? Carrying large amounts of credit card debt can damage your credit score and cause you to experience financial and emotional stress. A good rule of thumb is to ensure your monthly payments are not more than 10 percent of your monthly income.
Are you paying only the minimum? Credit cards typically have low monthly minimum payments, but that doesn’t mean they are affordable just because you can cover that amount. If you are only able to make the minimum payment, that can be a sign you have too much credit card debt.
Is your credit card debt impacting your credit score? Credit cards can help your credit score- or hurt it, depending on how you use them. It is recommended that you keep your credit utilization below 30 percent. Having significant credit card debt can have a negative impact on your credit score. This can make other debts, like your mortgage and car payments more expensive.

As bankruptcy attorneys, we see credit card debt as one of the most common problems facing those with serious financial challenges.

Filing for bankruptcy is a viable option for those struggling with insurmountable credit card debt. Chapter 7 is the fastest form of consumer bankruptcy and forgives most unsecured debts like credit card debt, medical bills, and personal loans. There are certain qualifications a consumer must meet in regard to income, assets, and expenses to file for Chapter 7 bankruptcy, which is determined by the bankruptcy means test.

Auto Loan Debt, Consumer Debt

Auto Loan Debt Rising in the U.S. – Here are Cities with the Most

Posted on June 3, 2025by Admin

People in the U.S. collectively owe over $1.64 trillion in auto loan debt, with the average household owing nearly $14,000. These loans have become significantly more expensive, and interest rates have surged.

WalletHub has identified the cities where auto loan debt is growing the fastest and those where the increases are more modest by examining proprietary consumer debt data. Here are the findings:

Hialeah ranks in the Top 5 cities where auto loan debt is increasing the most. Miami comes in at #43 on the list. In most of the Top 10 cities on the list, this extra debt is a bad sign because those cities tend to have high debt delinquency rates and a lot of people experiencing financial distress.

Click here to read more.

If you have questions on this topic or are in a financial crisis and considering filing for 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 McMaken 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 McMaken website at www.miamibankruptcy.com.

Legal Awards

Miami Bankruptcy Attorney Timothy S. Kingcade Receives the Prestigious AVVO Clients’ Choice Award for 2025

Posted on January 27, 2025by Admin

AVVO Clients' Choice Award 2025

MIAMI – (January 24, 2025) Managing Shareholder, Timothy S. Kingcade of the Miami-based bankruptcy law firm of Kingcade Garcia McMaken has received the 2025 AVVO Clients’ Choice Award. To obtain this award, an attorney must receive five or more exceptional client reviews in the same year. Kingcade has received the Clients’ Choice Award consistently since 2010, earning the award 15 years in a row.

One of Kingcade’s clients had this to say on AVVO:

Helped me from start to finish.

I thought I could pull myself through this situation, but it dragged on for a few years due to Covid. The stress on my mental and physical health was taking its toll. Timothy Kingcade and his entire office staff hung in there with me through thick and thin. I never thought I’d have to go through this experience; I know many people do, but for me it was slow and personal, not my area of expertise at all. I cannot thank Timothy and his team enough for all the emails, texts, and office visits. They supported me all the way to the finish line. Thank You!

-Leanne

Click here to read all of Miami Bankruptcy Attorney Timothy Kingcade’s client reviews on AVVO. Timothy has earned a “Superb” 10.0 AVVO rating in the area of bankruptcy law, the highest rating an attorney can receive. The rating is calculated using a mathematical model, which takes into consideration the years an attorney has practiced law, their professional achievements, discipline history and industry recognitions. The rating is completely objective and unbiased. Attorneys cannot pay or petition the site to have their rating changed, which makes AVVO one of the most respected lawyer rating services in the country and an invaluable legal resource for consumers.

Attorney Timothy S. Kingcade founded Kingcade Garcia McMaken, a prominent law firm that handles a substantial number of bankruptcy filings each year. Timothy, along with his dedicated team, provide comprehensive legal representation to clients throughout South Florida. Kingcade Garcia McMaken is committed to helping clients navigate the complexities of bankruptcy law. Their experienced attorneys guide individuals in understanding recent changes in bankruptcy regulations and the critical distinctions between filing under Chapter 7 or Chapter 13 bankruptcy. The firm also handles foreclosure cases alongside bankruptcy matters. Throughout South Florida, Kingcade Garcia McMaken has earned a solid reputation as a dependable and effective advocate for clients from diverse backgrounds. The firm’s commitment to providing personalized service is evident, with their attorneys taking the time to clearly explain the available options based on each client’s unique circumstances. The personalized approach ensures that clients receive the individual attention and care they deserve during the legal process.

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Credit Card Debt

Credit Card Study Reports These States Have the Highest Credit Card Debt Increases

Posted on September 12, 2023by Admin

Credit card spending among American consumers has hit a high of $1.2 trillion with $116 billion of this balance added during 2023 alone. Some areas of the country are adding to this debt balance more than others with California, Texas, and Florida being at the top of the list.

WalletHub recently conducted a study of all 50 states, using data reported from TransUnion and the Federal Reserve, adjusted for inflation. They found that certain areas of the country have been contributing significantly to the current national credit card debt while others have been contributing significantly less.

Legal Awards

Miami Bankruptcy Attorney Timothy S. Kingcade Receives the Prestigious AVVO Clients’ Choice Award 2023 for the 10th Consecutive Year

Posted on January 31, 2023by Admin

AVVO Clients' Choice Award

MIAMI – (January 31, 2023) Managing Shareholder, Timothy S. Kingcade of the Miami-based bankruptcy law firm of Kingcade Garcia McMaken has received the 2023 AVVO Clients’ Choice Award. To obtain this award, an attorney must receive five or more exceptional client reviews in the same year. Kingcade has been awarded the Clients’ Choice Award 10 years in a row.

One of attorney Kingcade’s clients had this to say on AVVO:

The law firm is very much customer focused. In my case, I was referred by a previous client and the procedure to start working with them is easy and painless, they set an appointment and Mr. Kingcade himself interviewed me, precise, concise, and straight to the point. He made everything crystal clear. Then the information phase started, they asked for a list of documents and statements and gave me enough time to collect them all. In the end, the results were stellar. I can recommend Kingcade & Garcia from here to the moon. Excellent service! -J.G.A