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July 2014 Archives

What is Exempt from Bankruptcy? Florida Bankruptcy Exemptions

The decision to file for bankruptcy is a difficult one, and there is a lot of things to find out about which type of bankruptcy, if it's a chapter 7 bankruptcy or chapter 13 bankruptcy, is best for your current financial situation, before filing. One thing a person who is considering bankruptcy should look into is, what would be considered exempt from bankruptcy if one should file.

Is student loan debt becoming popular prey for con artists?

There is no shortage of college graduates who are facing student loan debt in America, including many people in the Tampa area. Student loan debt is a common problem after people graduate from college, and paying it off can be very difficult. There are also many different so-called “debt-relief” companies that are aware of this and they are starting to discover the benefits of preying on people weighed down by student loan debt.

July Means Changes to Federal Student Loans

Summer has arrived, which has brought about new changes to Federal Student loans that took affect July 1st. Here are some important changes that borrowers should be aware of regarding student loans:

Protection from Debt Collector Harassment

Many people who are in debt or once were are well familiar with the constant attention from debt collectors. Debt collectors can be persistent and cause a lot of stress for those who are in debt, by hassling them at inappropriate times or trying to contact others personally to get more information about the debtor in question. Luckily, the federal Fair Debt Collections Practices Act (FDCPA) makes certain collection procedures illegal for debt collectors to implement. Knowing what debt collectors can and cannot do is important as an individual to understand that you have rights that protect you from collection harassment.

Are Americans learning to be responsible with credit cards?

Although just about everyone in the Tampa area, and elsewhere, understands the dangers of having too much debt, that doesn’t stop most Americans from carrying their fair share of unpaid credit card debt. Credit card debt can lead to a lot of financial problems both in the present and in the future. However, there may be some good news for the overall credit card debt picture in the country.

Extensions on Paying Back Student Loans: Forbearances

In last week's blog we discussed ways to get extensions on paying off student loans, one way being deferments. This week we will discuss another solution to extending payments: forbearance. Forbearance, just like a deferment allows a borrower to temporally postpone payments on student loans and/or reduce the amount one pays monthly on those loans.

Inherited IRAs are Not Considered "Retirement" Accounts

When a person sets up an Individual retirement account for themselves they usually are thinking that if something should happen to them, then their account is under the possession of the beneficiary of their choice. Which is true, however, when a person sets up an IRA with a chosen beneficiary do they think about if this account can be affected financially, such as through a bankruptcy. No, most IRA owners do not. This is because too many people who do have IRAs or have inherited those from an original owner never realize that if faced with bankruptcy their inherited IRA is at risk.

Could the private sector ease the burden of student loan debt?

Many people want to live the “American dream,” which often includes time spent earning a degree at a college or university. Having a degree can be very beneficial for those who want to carve out a path of financial prosperity. However, paying for a college education is often very expensive and many students in the Tampa area, and elsewhere, graduate in serious debt. So what if the private sector helped students overcome this debt?

Paying for College Does Not Mean Taking out Student Loans

Today many students when thinking of applying to college they ask themselves, "How can I afford tuition?" From there they see taking out Student Loans as the only solution to achieve their dreams of gaining a college degree. Taking out loans could lead to borrowers being overwhelmed by debt; therefore they become unable to repay their loans in time, and are forced to deal with default. For debtors who feel like they have no way out they seek to file for bankruptcy. However, student loans are not the only way affording college is possible.

  • "When I first came to the decision to file for bankruptcy, I had no idea where to start. I began researching attorneys on the internet and came across the information for Tim Sierra. Since he specialized in bankruptcy and had a lot of experience......"
  • The process of going through bankruptcy could be very overwhelming but Tim made me feel at ease and I felt that my needs were being taken care of. I truly feel that he had my best interests in mind and the lines of communication were always open....
  • "I had to file a Chapter 7 bankruptcy. I didn't know anyone who could refer someone so I took a chance and just looked on the Internet. I don't remember exactly why I chose Mr. Sierra, but I am glad I did..."
  • He was honest, straightforward, and hard-working. In my case I ended up with some extenuating circumstances and he handled the matter professionally even though I'm sure the work probably exceeded what he originally felt it would be....
  • I don't ever write reviews, and I had no prior relationship with Mr. Sierra. This review is simply being written as a service to others that Mr. Sierra is an excellent attorney and should be considered for your needs if you need one....
  • "I'm very happy to have been referred to Tim for my Chapter 7 filing. He was knowledgeable in his field and very responsive in replying to any questions or concerns I had. Tim was also very accommodating with meeting times..."
  • " I recently was in need of Mr. Sierra's services and I found him to be very understanding and helpful in my particular circumstance. He met with me and explained everything in full detail and also answered every question that I had....."
  • " I recommend Timothy Sierra a loyal and dependable lawyer. When you talk to him you feel that you are with a friend or a member of your family. Timothy is able to lead you in every step of the process. Good job Timothy."
  • " Bankruptcy is a private and personally devastating life event. Timothy Sierra and his assistant, Nancy, made the process as painless as possible. They kept in close contact via phone and email so I always knew what was happening in my case...."
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