Florida Insurance

Debt Consolidation, commonly referred to as Debt Settlement or Debt Elimination, is a service that more and more people are leaning toward as they fall deeper and deeper into debt. Americans are drowning in debt like never before in our nation’s history. This is no surprise given the following facts:

  • The average balance on a credit card is $7,000.
  • The average household has 10 credit cards.
  • Almost half the households in America report having difficulty paying their minimum monthly debt payments.

Debt Settlement is considered a specialty service, or a hardship service, which is mostly offered to people who “fall out” of a debt consolidation program, can’t make the minimum payment of a debt consolidation program, or have large outstanding debts on which they haven’t paid in the past 3 or more months. The main benefit of a Debt Consolidation service is that our clients usually only pay around 50%, and in our case we can even get you to save up to 70%* of the amount you owe to your creditors.

(*) While settlements can be above or below the average, most settlements we see daily are on the range of paying back to your creditors 30 to 50 cents on the dollar, or as we say, save up to 70%

What about Insurance

In the continental USA, as well as most places around the world, drivers are required to have adequate insurance coverage.  This is very much the case in Florida as well.

Can I have insurance if I have declared bankruptcy?

At LNC Insurance Providers, we get asked that question from time to time. Circumstances are such that unfortunately, bankruptcies are necessary in some cases. The answer to that question contains a positive and a negative component:

The good news is that yes, it is possible to find insurance even if a person has had to declare bankruptcy.  The bad news is that premiums might be higher.

Consolidating debts doesn’t mean that a bankruptcy is in place.  It is rather a step people use to avoid having to be insolvent sometime in the future. Consolidation deb means that you are taking steps to avoid bankruptcy in the first place. It’s a sign that you are taking your financial profile seriously and financial companies like responsible customers. Depending on the size of the debts and its serviceability, it is quite possible to obtain insurance coverage.