Florida Debt Relief

Reduce Your Credit Card Debt By Up To Half


Pacific Debt Relief offers the only solution that significantly reduces your debt to less than you currently owe. That means you get debt-free in a fraction of the time it would take with other options.


Save thousands by lowering your debt balance and wiping away years of future interest and payments.

Call us today for a FREE consultation!

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Pacific Debt has helped thousands of people reduce their debt. Since 2002,  we've settled over $500 million in debt  for our clients. Contact us today to see how we can help.

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The Better Business Bureau of Florida


Pacific Debt Relief is an A+ rated Business with the BBB (Better Business Bureau) for debt negotiation services assisting people struggling financially with debt. We have been accredited since 2010 and in business since 2002.


We have helped countless residents in the state of Florida who are living with financial hardship and struggling to pay credit card balances. Luckily, Pacific Debt helps Floridians get needed information to figure out the right course of action.


Our debt specialists can help you with a FREE consultation and go over all your debt relief options.

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FAQs

  • What is Florida Debt Relief?

    Debt relief is the reduction of debt through debt settlement or debt consolidation. Speak to a debt specialist today for FREE.


    Pacific Debt specializes in Florida debt settlement and starts reducing your debt for substantially less than you currently owe.


    Most types of debt qualify for our Florida debt relief program, including credit card debt, or any other type of debt.


    Unsecured Debts


    A debt relief company can help with unsecured debt. This debt is not backed by collateral. This means that if you default on your loan, the lender will not be able to seize assets as collateral. 


    However, because this debt is not backed by anything, it typically has a higher interest rate than secured debt. Many people struggle to pay their outstanding balances.

  • How Does Florida Debt Relief Work?

    The first step in the debt relief process in Florida is a FREE phone call with one of our debt specialists who will explain all your debt relief options. 


    You'll fully understand your position and what steps need to be taken with your creditors to reduce your debt.


    The program works by having you deposit an agreed amount in your very own escrow bank account. 


    Once enough funds have been built up, our debt negotiators negotiate a substantial debt settlement with your creditors.


    The program takes from 2-4 years to complete because everyone's financial situation is different.

  • Is Florida Debt Relief Legit?

    Pacific Debt Relief has helped countless Florida residents reduce their unsecured debt. Since 2002, we've settled over $200 million in credit card debt. 


    If you are searching for information on a Florida debt consolidation loan, or for a debt management plan in the state of Florida, you could benefit from a free conversation with our debt relief specialists.


    We understand what it's like to have high-interest rates on existing debts or have monthly payments out of your reach. 


    Speak to our debt experts to see how we can help reduce your debt and explain your available debt solutions.


    The debt relief expert will determine if you are eligible for our debt relief program and if we can help lower your monthly payments or even help you become debt-free. 


    If you have bad credit and can not get personal or consolidation loans, our debt settlement program might be perfect for you!


    We are experts at debt negotiation so call us today to work out a debt relief custom plan for your financial situation. 


    Your credit score and credit report might take a hit in most cases, but once your unsecured debt is settled, you can work on fixing your credit.


    You can also read our Florida debt relief reviews to see what our customers living in Florida say about our debt relief program.

  • Is Florida a Community Property State?

    Florida is not a community property state. Therefore your assets are not seen as equally owned by you and your spouse.


    Currently, there are only 10 states that are community property states. In the state of Florida, the judge will decide which assets are shared by you and your spouse, and what the equity is for each.


    There are 10 community property states in which the state sees your assets as community property Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, New Mexico, and Wisconsin.

  • What happens when you file for bankruptcy in Florida?

    Filing for bankruptcy in Florida may result in some property being seized by the trustee in order to repay your creditors.


    Your wages may also be garnished to pay off your debts. In most cases, bankruptcy will also discharge your debts, meaning you will no longer be liable to repay them.


    Under Chapter 7 bankruptcy, most of your unsecured debts may be discharged, meaning you might not have to pay them back.

  • What are the requirements to file bankruptcy in Florida?

    There are a few requirements to file for bankruptcy in Florida. You must reside in the state of Florida and have been a resident for at least the past six months.


    You must also be current on your child support payments, or you must have filed a motion with the court requesting that child support payments be temporarily suspended.


    Lastly, you cannot have filed for bankruptcy protection in the past eight years.


    Read more about Bankruptcy.

  • What assets are protected from creditors in Florida?

    In Florida, the following assets are protected from creditors:

    1. Retirement accounts, including 401(k)s and IRAs.
    2. Life insurance policies with cash values.
    3. Home equity below $100,000.
    4. Personal property up to $1,000 in value per item (e.g., car, furniture).
    5. Disability benefits.
    6. Workers' compensation benefits.

  • Does debt consolidation affect your score?

    Debt Consolidation has positive and negative effects on credit scores. On the positive side, consolidating debts into one monthly payment can make managing finances easier and help you stay current on monthly payments. This can lead to a good credit score over time. 


    On the negative side, debt consolidation can lead to a short-term lower credit score. Creditors may view debt consolidation as a sign of financial difficulties. Ultimately, whether debt consolidation affects your credit score depends on how you manage your finances after consolidation.

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Reasons to Get Debt Relief in Florida


There are many reasons why you might want relief from debt in Florida. Perhaps you lost your job or were hit hard by the recent recession. Maybe you have medical bills or are struggling to keep up with credit card payments.


If you are living in the state of Florida and looking for a Florida debt settlement program, then you could benefit from the free consultation we offer. Our experts will explain all the available Florida debt relief programs. We'll go over all your credit card debts and take a look at how much the interest rate is you are currently paying.


Achieving a debt free life isn't easy, but it's not impossible! Our staff is standing by to help with a free consultation and no upfront fees.


Common Types of Credit Card Debt Relief Options


Each one of the debt solutions listed below comes with pros and cons. Everyone's financial situation is unique so speak to a specialist who can help you understand your options .

  1. Debt Consolidation Loan
  2. Debt Settlement Services
  3. Credit Counseling
  4. Debt Management Program
  5. Bankruptcy (Chapter 7 & Chapter 13)

Debt Consolidation Loans


Debt consolidation loans are loans used to consolidate debt and then pay the total unsecured debt. The loan is then paid over a set period of time with the borrower making one monthly payment. This can make debt repayment more manageable.


Debt Settlement Services


Debt settlement services can be very helpful in resolving unsecured debt. A debt settlement company negotiates a lower payment amount that is more manageable for you. While negotiations are underway, you save sufficient funds to pay off the negotiated debt. The company may be able to get creditors to forgive some debt.


Do your research before choosing a debt settlement company. Make sure the company is licensed and accredited, and read reviews from past customers.


Pacific Debt is rated one of the best debt settlement companies because of our exceptional customer service. We have relationships and reputations in place with most credit card companies and lenders throughout the United States.


If you have debt, we can help with our debt relief program. The program is geared towards people with heavy financial hardship who are struggling to get on their feet.


If you live in Florida and want out of debt, then a Florida debt settlement company could be your best solution for immediate relief. See our debt relief options for the Miami area.


Credit Counseling


Credit counseling involves working closely with a credit counselor to develop a plan to pay back your debts. A credit counseling organization can help you negotiate with your creditors and develop a budget to make it easier to pay off your debts. In some cases, credit counseling may be able to help you get lower interest rates or waive certain fees. This usually involves a full balance debt resolution program.


Always read over the fine print and program materials prior to enrolling.


Debt Management Program


Debt Management Programs are formal agreements between debtors and their creditors to repay a percentage of the money owed over a fixed period of time. DMPs can be helpful for consumers who are struggling to make minimum payments on their credit cards or other debts.


Under a DMP, the creditor agrees to stop all collection activity against the debtor until the debt has been repaid. In addition, the creditor may agree to reduce or eliminate interest charges and late fees. The goal of a DMP is to help the debtor get back on track financially so they can eventually pay off their entire debt balance.


Bankruptcy


Bankruptcy is a legal action taken by a person or organization that cannot repay the debts owed to creditors. There are a few differeent types of bankruptcy like Chapter 7 and Chapter 13. Learn the difference between them to find out which one makes the most sense for your financial situation.


When a person or company declares bankruptcy, they are declaring that they are unable to pay back their debts. This can be due to financial difficulties, such as high levels of debt or unemployment, or due to business failures. In most cases, bankruptcy will result in the individual or company being liquidated, meaning all their assets will be sold off in order to repay their debts. Bankruptcy may provide tax relief.


Out of all the debt solutions listed here, bankruptcy can be the most damaging to your credit score. Bankruptcy also rarely involves reasonable attorney fees.


Find out more about Bankruptcy.


Florida Bankruptcy Court Information


Bankruptcy is a legal action that can erase most of your debt as well as your credit history. It is not an action to take lightly. If you do, you must follow the following steps in Florida Bankruptcy law.


Persons filing for bankruptcy must:

  • Complete credit counseling within six months before filing for bankruptcy.
  • Complete a financial management instructional course after filing bankruptcy.
  • Complete a Bankruptcy Act Means Test to determine if you are eligible for a Chapter 7 or 13 bankruptcy
  • Itemize current income sources; major financial transactions; monthly living expenses; debts (secured and unsecured); and property (all assets and possessions, not just real estate).
  • Collect the last 2 years of tax returns, deeds to real estate you own, car titles, and loan documents
  • File for bankruptcy
  • Chapter 7 bankruptcy fee is $306
  • Chapter 13 bankruptcy fee is $281
  • Meet with court assigned bankruptcy trustee
  • Attend a Meeting of Creditors
  • Confirm plan if filing for Chapter 13 bankruptcy
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The Pros of Our Debt Relief Program


We have no upfront fees and provide you with a free debt analysis consultation to see how we can help. If you are looking for a reputable debt relief company that can help you achieve your goal of reducing your debt, we are your company.


A huge plus is the possibility of settling your debt for less than what you owe with the possibility of becoming debt-free in 24-48 months.


There are other Florida debt relief programs and debt solutions available but we are leaders in the debt relief industry and have been in business since 2002 and have a successful track record with Florida residents and debt negotiation.


If you are on the fence, check out what our Florida customers are saying about our debt relief program and how it helped them. We have reviews in cities like Miami, Orlando, Tampa.


View our debt relief customer reviews


Potential Tax Consequences


There can be potential tax consequences associated with working with a debt settlement company. For example, if you settle a debt for less than the full amount owed, the IRS may consider the difference between the two amounts to be taxable income.


Additionally, any forgiven debt may also be considered taxable income. Therefore, it's important to discuss potential tax consequences with a tax professional before entering into a debt settlement company agreement to ensure that you understand all of the potential implications. Creditors will provide tax documentation.


To learn more about tax implications from debt settlement companies read What Are The Tax Consequences Of Debt Settlement?


Credit Scores


When you go through debt settlement, your credit score may drop. This is because you will be marked as delinquent on your payments, and your credit report will show that you have unpaid debt. Additionally, the amount of debt that you settle may be reported as a negative item on your credit report.


However, after settling your debt your credit score should start to increase quickly from making timely payments on other debts and keeping a low balance on your credit cards.


Before you contact credit repair services, be aware that you can fix your own credit fairly easily. We address these steps in other blogs.


Debt Relief Florida


If you are searching for a debt consolidation loan or an expert in Florida debt settlement, Pacific Debt can help immediately by letting you know how much money you could save with a FREE consultation! We are a debt settlement company and our Florida debt relief program was created to help people reduce their debt substantially.


Residents Living in Florida


Florida is supposed to have the fountain of youth. Its weather and beaches have made it a popular destination for snowbirds. It ranges from bustling city life to the silence of the Everglades. As a result, Florida is ranked #3 for population and #9 for population density.

As of 2017, over 21 million people called Florida home. Jacksonville is ranked as the 12th largest city in the US.


Florida Income Stats


The median state income is $50,860. As of 2018, the minimum wage is $8.25 per hour. Unfortunately, 21.3% of Floridan children under 18 live in poverty. For residents overall, 14.7% of all people in Florida live under the poverty level.

  • Median state income: $50,860
  • Minimum wage: $8.25/hour
  • Children in poverty: 21.3%
  • People in poverty: 14.7%

Homeowners


More than half (64.1%) of Floridians hold a mortgage. The median home price in Florida topped $200,000 (2018) for the first time. Of course, that median price depends on the location with some areas being much higher.

  • Homeowner rate: 64.1%
  • Median home price: $200,000

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Employment


Florida has recovered from the depression and the current unemployment rate is 3.9%. However, the underemployment rate is 10.3%. Underemployment is the percentage of civilian workers who are unemployed, employed part-time or are not seeking employment.

If this is you, we can help. 


Pacific Debt offers Florida debt reduction solutions tailored to your unique situation and budget. Our certified counselors help you work up a budget and explain your options.

  • Unemployment: 3.9% (2018)
  • Underemployment: 10.3% (2017)

Debt Statistics


Debt in Florida is very high. The average credit card debt is $6,388 (2018). The average student loan debt is lower than the national average but is $24,461. When you add all that debt on top of the cost of homes (rental or owned), versus the median income, it is very easy for Floridians to get into debt.

  • Average credit card debt: $6,388 (2018)
  • Average mortgage debt: $183,016 (2017)
  • Average student loan debt: $24,461 (2016)

Florida Debt Relief Options


If you have more debt than you can pay off, Pacific Debt can help you consolidate your debt and learn to live debt-free. Since 2002, we’ve settled over $200 million in debt for thousands of clients. We are a nationally top-ranked debt relief company. We have helped countless residents living in the state of Florida with debt relief. Contact us today so we can help you too!


We will help you work through our proven and comprehensive debt relief program. Your certified debt relief counselor will review all your options. If debt settlement is right for you, we move forward with our debt consolidation program and work to save you money. Pacific Debt can help with most unsecured debt like credit cards, personal loans, medical bills, and repossessions.


It is not an easy process and it won’t happen overnight, but you can do it. Pacific Debt will be there every step of the way to help. Call us and inquire about our FL debt settlement program and how it can help you.


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Statute of Limitations Debt for Florida


The Florida debt statute of limitations lays out maximum time periods that debt collectors can take action against a delinquent debt. These statutes of limitations begin on the date that your debt goes delinquent.


For debts taken out in Florida, the following are the statutes of limitations for different types of debt.

  • Oral agreements: 4 years
  • Written contracts: 5 years
  • Promissory notes: 5 years
  • Credit cards and other revolving loans: 4 years

Debt Collection Laws in Florida


Floridians have laws to protect them against unscrupulous debt collectors. The federal Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive or harassing bill collection practices. In addition, the Florida Consumer Collection Practices Act (FCCPA) adds protections against more types of collectors and actions. If you are a victim of any of these actions, you may take legal action against them.


Overall, debt collectors can NOT:

  • Charges more than 10% interest
  • Garnish more than 25% of wages
  • Us/threaten physical force or criminal tactics to harm you, your property, or your reputation
  • Accusing you of committing a crime for not paying the debt
  • Make/threaten to make defamatory statements to someone else
  • Threaten arrest, seizure of assets, or garnishment of wages unless actually planning to take such action
  • Use obscene or profane language
  • Cause you to spend money you wouldn’t otherwise have spent (ie long-distance telephone calls)
  • Call you repeatedly or let your phone ring repeatedly
  • Call frequently
  • Contact your employer, except to verify employment or health insurance status, garnish wages or locate you
  • Reveal information about the debt to anyone except your spouse or your parents if a minor.
  • Publicly publish your name for failing to pay
  • Send a postcard or letter with revealing information on the envelope
  • Claim to be someone other than a debt collector, including a governmental official
  • Use stationery that appears to be from a law firm
  • Charge you collection or attorney’s fees unless legally allowable
  • Threaten to report you to a credit reporting agency if they have no intention of doing so
  • Send a letter claiming to come from a claim, credit, audit, or legal department unless it actually is

Debt collectors must:

  • Disclose caller identification
  • May contact your family to locate you
  • Must serve you with notice of a lawsuit if suing you

Disclaimer: In some states, PDR may not be able to offer our services directly due to state regulations related to debt settlement. In those instances, PDR will refer you to a reputable debt relief provider or attorney firm for assistance with your debt. We are not lawyers and are not giving legal advice. Before filing bankruptcy, talk to a lawyer in your state. The information included on this site is for educational purposes only.

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