Florida Debt Relief

Florida Credit Card Debt law gives creditors four years to file suit over unpaid open-ended credit accounts. The Statute of Limitations (SOL) runs starting from the due date of the first missed payment. sUnlike most states, tates that does not restart tthe SOL does not reset if the debtor makes a subsequent partial payment. The state provides 20 days to answer a summons, which should be sent via certified mail.

Judgment Enforcement

Florida has one of the longest judgment enforcement limitations in the country at 20 years. Interest accrues at a rate of ten percent yearly, subject to change by the Comptroller of the State of Florida’s calculations. The creditor has the right to seize all non-exempt debtor property, both personal and real, .. Florida residents may declare homestead within 15 days of a levy assessment to protect the property. Certain types of personal property can also be claimed as exempt by the debtor.

Liens from judgments may be placed on real property and are valid for seven years. Liens may be renewed before they expire by court order. Property seizures may be more common in Florida than in other states only because the creditor must show the court that there are no assets to levy before wages can be garnished. A head of family’s wages are exempt from garnishment up to $500 per week. Earnings more than $500 a week can only be garnished by written agreement from the debtor. In either case, the garnishment amount cannot exceed that allowed by the Consumer Credit Protection Act, or 25% of an individual’s earnings.

Debt Settlement

Debt Settlement helps thousand manage serious debt when facing a court judgment. By allowing debtors a way to make payments interest free, Debt Settlement eases the stress of a court case and helps debtors avoid bankruptcy. .