Many consumers in Florida and elsewhere get into financial trouble by relying on the failure-driven cycle of expensive and predatory payday and car-title loans. These transactions rest on a platform of extremely high-cost financing rates, making the loan payments egregiously high and necessitating re-borrowing when the short-term payday ultimatum becomes due. When this kind of debt spirals out of control, which may even be combined with high-cost credit card debt, the consumer must often decide whether bankruptcy should be considered to put the destructive cycle to rest.
When considering bankruptcy in Florida, it is important to seek the services of an experienced consumer bankruptcy attorney. That person will be interested in getting a discharge of the consumer's unsecured debts quickly and permanently when possible in a bankruptcy filing. Although the legal fee for a Chapter 7 must be paid prior to filing, it is often the best solution for consumers swimming in overwhelming unsecured debt.