From unemployment to costly medical expenses and unforeseen challenges in life, there are many reasons why people take on debt that they cannot repay. Unfortunately, far too many people in Tampa and throughout Florida are experiencing these difficulties firsthand and have no idea of what should be done next. At the law firm of Timothy J. Sierra, we understand the numerous obstacles that come with burdensome credit card debt and work hard to help ensure that our clients address their debt properly.
For some homeowners, the threat of foreclosure keeps them up at night and causes considerable anxiety. In Tampa, Florida, people who are dealing with this firsthand should try to explore every available option and address the situation correctly. After all, losing a home to foreclosure can lead to a plethora of problems that affect the entire family and it is imperative for every homeowner who is facing these financial challenges to take action as soon as possible.
President Obama said in a May speech that the burden of student loans that many young people face upon graduation is crippling our economy. Public university tuition and fees have doubled in the past couple of decades. The average college graduate owes over $26,000 in student loan debt, and with interest rates and today’s dismal employment options, it can take years or even decades for a Florida resident to pay off student loans.
Every Florida resident knows that a bad credit score can negatively affect a person’s ability to purchase a home, car, or obtain a line of credit. There are many ways you can hurt your credit, and sadly it’s all too easy to do this. Several factors, such as too much credit card debt, opening up too many lines of credit at once, and keeping high balances on credit cards can all lower a credit score, sometimes alarmingly quickly.
Today’s job market and financial challenges are bad for millions of Florida residents, but experts say many veterans face a unique set of challenges and setbacks. It’s fair to say that once they’re discharged from the military, veterans should be allowed to enjoy financial security after serving our country. Unfortunately, many veterans are finding themselves in just the opposite position, with unemployment, debt, and even foreclosure being part of a list of problems that add stress to the lives of former servicemen and women.