In Florida and nationwide, debt settlement companies have been the subject of intensive scrutiny by state and federal authorities in the past several years. The peak of the problem may be over now that many abusive companies have fallen under the demands of increased regulatory supervision. The question arises, however, whether the remaining group of debt settlement companies can measure up in results to the substantial benefits that the federal bankruptcy remedy gives to qualified consumers.
Filing a bankruptcy in Florida or elsewhere is not the end of the line or the ultimate personal tragedy. Some of the most famous and influential people, including some of the greatest entertainers and actors, have filed bankruptcy and roared back to a life of economic success. The justifying theory behind the federal bankruptcy laws are to give people a second chance for financial security after they have fallen deep into economic difficulties. The slate is wiped clean in many instances and the individual or married couple can get a fresh start.