In Florida and elsewhere, it is easy for an individual or married couple to get carried away with credit card debt. At first, it seems quite easy to settle back, make purchases and then just pay the minimum amount each month. It is also easy to ask for additional credit cards, especially where no payments have been late or missed. However, this may lead to a spiral that is nearly impossible to stop, and when it goes into runaway mode, a bankruptcy may be the only answer that makes any sense.
Most individuals and married couples in Florida who are struggling with overwhelming debt will likely benefit most from filing a Chapter 7 bankruptcy because it gives swift and permanent relief regarding all unsecured debt such as credit cards and medical bills. However, in special circumstances where a house mortgage or car loans are behind, the home and/or the cars can sometimes be saved by filing a wage earner's payment plan called a Chapter 13. In that kind of bankruptcy, the mortgage or car payment will be paid on time every month and a partial payment will be made monthly to get the arrearages on the loan current.