Skip to content
United Settlement
  • Manage Your Debt
    • get-startedGet Started
    • settlementDebt Settlement
    • consolidationDebt Consolidation
    • debt-managmentDebt Management
    • bankruptcyBankruptcy
    • credit-cardCredit Card Debt
    • businessBusiness Debt
    • car-loanAuto Loan Debt
    • student-debtStudent Loan
  • Understand Your Debt
    • credit-cardCredit Card
    • business-2Small Business Debt
    • medicalMedical
    • loansLoans
    • umbrellaCredit Card Relief
    • interest-ratesInterest Rates
    • student-debtStudent Debt
  • Tools & Resources
    • faqFAQs
    • credit-cardCredit Guidance
    • calculatorCalculator
    • call-usContact Us
    • contact-usAbout Us
  • More
    • Debt Settlement
    • Debt Consolidation
    • Reviews
    • FAQs
    • About Us
    • Contact Us
    • Blog
    • Sitemap
    • Debt Relief by State
Professional Debt Relief Programs
Logo
United Settlement
phone icon 888-574-5454
client icon Client Log In
  • More
    • About Us
    • Reviews
    • Contact Us
    • Debt Settlement
    • Debt Consolidation
    • Debt Management
    • Business Debt Relief
    • Credit Card Debt Relief
    • Debt Relief by State
    • FAQs
    • Blog
    • Sitemap
Qualify For Debt Relief
Professional Debt Relief Programs
  • Manage Your Debt
    • get-startedGet Started
    • settlementDebt Settlement
    • consolidationDebt Consolidation
    • debt-managmentDebt Management
    • bankruptcyBankruptcy
    • credit-cardCredit Card Debt
    • businessBusiness Debt
    • car-loanAuto Loan Debt
    • student-debtStudent Loan
  • Understand Your Debt
    • credit-cardCredit Card
    • business-2Small Business Debt
    • medicalMedical
    • loansLoans
    • umbrellaCredit Card Relief
    • interest-ratesInterest Rates
    • student-debtStudent Debt
  • Tools & Resources
    • faqFAQs
    • credit-cardCredit Guidance
    • calculatorCalculator
    • call-usContact Us
    • contact-usAbout Us
  • More
    • Debt Settlement
    • Debt Consolidation
    • Reviews
    • FAQs
    • About Us
    • Contact Us
    • Blog
    • Sitemap
    • Debt Relief by State
United Settlement » Debt Settlement » Florida Debt Settlement
admin March 17, 2018

Florida Debt Settlement

The state of Florida, with approximately 21 million residents, includes the third highest population within the United States, while covering an area of 65,755 square miles that places it only 22nd in terms of geographic size. Accordingly, the Sunshine State is densely populated, ranking eighth nationally in terms of population density.

Florida also ranks first in percentage of its population who are senior citizens – 17% of Florida residents are over the age of sixty-five. Meantime the Florida economy is one of the country’s strongest, generating a gross state product of $926 billion, driven primarily by tourism, healthcare, and construction.

This figure places Florida fourth in the United States – and would rank it within the Top 20 countries in the world. However, despite the vigor of the Florida economy, its median household income level of $50,860 is almost 12% lower than the national median household income level of $57,617.

The State of Florida

The state of Florida, with approximately 21 million residents, includes the third highest population within the United States, while covering an area of 65,755 square miles that places it only 22nd in terms of geographic size. Accordingly, the Sunshine State is densely populated, ranking eighth nationally in terms of population density. Florida also ranks first in percentage of its population who are senior citizens – 17% of Florida residents are over the age of sixty-five. Meantime the Florida economy is one of the country’s strongest, generating a gross state product of $926 billion, driven primarily by tourism, healthcare, and construction.

This figure places Florida fourth in the United States – and would rank it within the Top 20 countries in the world. However, despite the vigor of the Florida economy, its median household income level of $50,860 is almost 12% lower than the national median household income level of $57,617. In fact, a recent study from early 2017 indicates that approximately 73% of American consumers actually die in debt! (Source)

If you’ve got a debt problem, don’t take it with you to the grave. There is no better time than the present to start acting upon your debt problem. With proper planning, guidance and dedication, you can find your way out of debt.

Related to: Debt Settlement

  • Debt Settlement
  • Debt Settlement vs Bankruptcy
  • New Jersey Debt Relief
  • New York Debt Relief
  • Can You Negotiate Your Own Debt
  • Unsecured Vs Secured Loans
  • Texas Debt Settlement
  • California Debt Settlement
  • Florida Debt Settlement

Florida Economic and Debt Statistics

According to the Bureau of Labor Statistics, Florida’s unemployment rate stood at 3.9% as of January 2018, slightly lower than the national unemployment rate of 4.1%. Florida residents tend to carry higher amounts of credit card debt than do citizens of many other states, checking in at an average level of $6,887 – seventeenth in the nation and 21% greater than the national average of $5,700. Meantime, compared with the 2017 nationwide average FICO score of 695, the typical Florida resident’s 2017 FICO score registered notably lower at 669, ranking 32nd in the nation. Furthermore, 17% of Florida citizens demonstrated a declining credit situation in 2017, as evidenced by a credit card bill that was 60 days or more overdue.

According to the St. Louis Fed, as of March 2018, the Florida home ownership rate checked in at 64%, right in line with the national average, while a recent Experian report shows average mortgage debt level rose to $183,016, an increase of 2.5% compared to 2016. Florida’s modest year-over-year increase in average mortgage debt level is among the lowest in the country, and when compared to 2007, Florida’s average mortgage debt level has actually declined 2.6%.

Regarding student loans, data compiled at the end of 2017 indicates that the average level of student loan debt for Florida college graduates stood at $12,900 – almost 25% less than the national average of $17,126. In 2017, 53% of Florida college students graduated with a student loan balance (47% of graduates had zero borrowings), leading to an average level of student loan debt for Florida student borrowers of $23,379, ranking Florida 46th nationally.

Florida Residents and Debt Settlement

If you are a resident of Florida and are currently burdened by high levels of unsecured debt – including credit card accounts, private student loans, unpaid medical bills and personal loans – the process of pursuing debt settlement may make sense for you. Debt settlement occurs when a debtor successfully negotiates a payoff amount for less than the total balance owed on a debt.

This lower amount is agreed to by the creditor or collection agency and is fully documented in writing. Ideally, this lower negotiated amount is paid off in one lump sum, but it can be paid off over time. Though creditors are under no legal obligation to accept debt settlement offers, negotiating and paying lower amounts to settle debts is far more common than many people realize.

Florida Consumer Debt Laws

Credit Card companies and other creditors are permitted to contact Florida residents directly regarding debts, particularly in a situation involving delinquent payments. However, debt collection agencies are required to comply with the the Federal Fair Debt Collection Practices Act (FDCPA), and are therefore prohibited from taking certain actions. Under the FDCPA, collection agencies are prohibited from informing employers about a debt or attempting to collect a fee in excess of any debt owed.

Debt collection agencies are also prohibited from communicating in a manner that simulates a judicial process or gives the appearance of a governmental action. Additionally, debt collection agencies are prohibited from contacting debtors or debtor family members at unusual hours or with a frequency that may be reasonably construed under the law as harassment or abuse. Unfortunately, unlike other states such as California and Texas, Florida does not supplement the FDCPA with its own state-mandated fair debt collection practice act, and therefore leaves its residents somewhat vulnerable to predatory collections practices by original creditors.

Are you in debt? we can help

  • Amount
  • Contact

How much do you owe?

Florida Statute of Limitations on Debt Collection

When sufficient time passes in a situation in which consumer debts have gone unpaid, a debt collector can lose the legal right to sue for non-payment. In the state of Florida, the statute of limitations on debt collection will vary according to the type of debt involved. For a contract, written instrument, or mortgage foreclosure, the statute of limitations is five years.

For debts involving revolving accounts, credit cards, and oral agreements, the statute of limitations is four years. For either time period, the clock begins ticking from the “date of default,” which is typically thirty days after the last payment was actually made. When debts remain unpaid prior to the statute time period elapsing in full, creditors maintain legal right to sue you for non-payment and are permitted to engage debt collection agencies who can make persistent attempts at collection – provided they remain within the bounds of the FDCPA.

Debt Settlement - Do It Yourself?

Getting out of debt is never an easy process. If debt settlement is the right avenue for you to pursue, be honest with yourself. Decide whether you possess the background, strength and fortitude to negotiate directly with creditors yourself – or whether engaging the services of an experienced and reputable debt settlement company will serve your needs best.

Remember, the goal is to save the greatest amount of money and time while minimizing any ensuing damage to your credit score and profile. A reputable debt settlement company will provide a realistic estimate and time frame for making offers to your creditors that can ultimately result in settlements that save you significant amounts of money, time, and aggravation. Contact us here at United Settlement, where our experienced credit counselors possess relationships with the major credit card lenders and a broad understanding of the debt marketplace. We can help you navigate these waters successfully.

Excellent
Based on 356 reviews

Overall 4.4 out of 5 stars

View All Reviews
December 28

Time and again, I did not know how to handle my debt

Time and again, I did not know how to handle my debt. Even when I paid my credit cards off, a few months later I was back in the same situation. But this year is different. I contacted United Settlement to see if we could work...

Buddy Ewing
December 27

Business debt relief is what I needed when I contacted the United Settlement crew

Business debt relief is what I needed when I contacted the United Settlement crew. They are committed to helping people like me who requires more help with business debt problems. I had several loans out for my deli, and these...

Lianne Finnegan
December 26

Student loan debt was the reason that I reached out to United Settlement

Student loan debt was the reason that I reached out to United Settlement. I had about 200K plus in student loan debt for my business degree. I recognized that I had to do something when I struggled to make the $1,000 student loan...

Wren Herrera
December 20

There is nothing worse than falling ill and then having to deal with super expensive medical bills

There is nothing worse than falling ill and then having to deal with super expensive medical bills that you really do not have the patience or experience to handle. I was pleased with my experience with United Settlement. They...

Jardel Shah
December 14

I took out a few personal credit cards to open my boutique

I took out a few personal credit cards to open my boutique. When than money ran out, I went on to take out more loans for my business. However, this quickly turned into a disaster. Today, I now have a mountain of debt without a...

Iain Holt
December 12

Who knew that auto loans were so negative for your credit lines

Who knew that auto loans were so negative for your credit lines? Especially, if they are not paid off right away. As a married couple, we had vowed to keep auto loan debt at bay. But, we found ourselves in a situation where we...

Avaya Adkins
December 07

I didn’t have a ton of debt when I contacted United Settlement

I didn’t have a ton of debt when I contacted United Settlement, but what I wanted from them was some information about how to handle my debt management. I knew that I needed some more information to get my business and personal...

Lucien Rojas
December 04

Federal student loans were the reason I ended up at United Settlement

Federal student loans were the reason I ended up at United Settlement. I had about $200K to pay back and I was not quite sure where to tackle that debt once I got out of school. But I reached out to that company and they provided...

Madiha Matthams
December 03

Everyone knows how horrible student loans are

Everyone knows how horrible student loans are. For me and my family, they had become more than just an annoying monthly bill. They had taken over our lives. That’s why I decided to take action and find a company like United Settlement...

Asim Horner
December 03

I wanted to be more informed about my own personal and business debt

The number one reason I chose to contact United Settlement was I wanted to be more informed about my own personal and business debt. When you have credit card debt, it can be extremely frustrating. Especially if you don’t know...

Frankie Mckee
November 29

I cannot believe I was finally able to find a company to actually help me pay off my debt

I cannot believe I was finally able to find a company to actually help me pay off my debt! I thought I would forever be chained to debt. But United Settlement offered me multiple solutions for paying off short- and long-term debt....

Justine O'Ryan
November 21

What your money can do for you.

The great reviews that you have thanks.

Jerry Conley
November 19

Dealing with high interest auto loan debt was difficult for me and my wife

Dealing with high interest auto loan debt was difficult for me and my wife. We thought we got a good deal, but it actually was a horrible loan. So, we reached out to United Settlement, and they got to work creating a debt repayment...

Cathal Brett
November 12

No one really wants to go bankrupt, and neither did my family

No one really wants to go bankrupt, and neither did my family. But fortunately, we did not have to go that route. It was our last resort, but United Settlement helped us figure out a way around bankruptcy for good. They gave us...

Aliesha Ward
November 08

I had been through about 5 different credit counseling agencies before I found United Settlement

I had been through about 5 different credit counseling agencies before I found United Settlement. I had read through their reviews and made the decision to move forward with them. I also was so impressed by their free information...

Filip Rosas
November 07

Save time and money

Just what I needed, already had a company I was working with and I switched because I was able to same some money. Brian and Alfred were really nice and helpful

Susanna Fasenmyer
November 07

As a business facing some unwanted financial difficulties

As a business facing some unwanted financial difficulties, we were at a loss for what to do next when our debt started to soar. We took a closer look at our financial situation by contacting United Settlement. These guys were very...

Warren Hutchinson
November 02

I had no clue how to create a debt management plan

I had no clue how to create a debt management plan and in fact, I didn't even know what a debt management plan was. Fortunately, I reached out to United Settlement before I had too much debt to tackle. I was so pleased with the...

Bobbi O'Quinn
October 31

Being burdened by debt is one of the biggest struggles we faced as a family

Being burdened by debt is one of the biggest struggles we faced as a family. But these people at United Settlement were very helpful in deciphering the different debts we had and then coming up with a debt consolidation planned...

Dawn Mercer
October 29

Student loan debt was my worst enemy before I ran into United Settlement

Student loan debt was my worst enemy before I ran into United Settlement. I really thought I would just have terrible credit for the rest of my life because I will never get out from underneath it. It was so stressful of an experience....

Forrest Guest

Florida Debt Settlement FAQ

Does united settlement help with debt settlement in Florida?

Yes, if you are a Florida resident and are currently burdened by high levels of unsecured debt – including credit card accounts, personal loans, unpaid medical bills and private student loans, United Settlement can assist you with the process of pursuing debt settlement. Debt settlement occurs when a debtor successfully negotiates a payoff amount for less than the total balance owed on a debt. Contact us here at United Settlement, where our experienced credit counselors possess relationships with the major credit card lenders and a broad understanding of the debt marketplace. We can help you achieve the peace of mind that comes with living a debt-free lifestyle.

Does united settlement offer debt consolidation services in Florida?

Yes, United Settlement offers debt consolidation services in the state of Florida. The process of debt consolidation involves combining and paying off multiple debts with one single loan, typically resulting in a lower blended interest rate and monthly payment. Debt consolidation provides the dual benefits of streamlining the repayment process while simultaneously lowering interest expense and the total amount repaid over time.

Can debt collectors garnish wages in Florida?

Debt collectors can garnish wages in the state of Florida, but only after suing a delinquent debtor and successfully obtaining a court judgment that allows for wage garnishment within certain restrictions. In Florida, a creditor can garnish up to 25% of a delinquent debtor’s disposable income, which is defined as the amount of money remaining after legally mandated deductions from a paycheck.

Am I responsible for my spouse's debt in Florida?

The responsibility for spousal debt largely depends on where a couple has lived – and whether that state is a “community property” state, or an “equitable distribution” state. Since Florida is an equitable distribution state, debts incurred by one spouse remain that spouse’s debts alone – unless the debt relates to a family necessity – such as shelter, food, and tuition. Additionally, all accounts with both spouse’s signatures attached are jointly liable for any accompanying debts.

Can you go to jail for debt in Florida?

According to the Florida bar, debtors cannot go to jail for failure to pay a debt or judgment. However, the state can report adverse repayment activity to the three major credit bureaus (Experian, Equifax and TransUnion) resulting in damage to a credit score and profile.

  • Contact Us
  • 241 West 30th Street
    3rd Floor
    New York, NY 10001
  • (888)-574-5454
  • [email protected]
  • Privacy Policy
  • Terms & Conditions
  • Debt Relief Services
  • Debt Settlement
  • Business Debt Relief
  • Credit Card Help
  • Debt Consolidation
  • Debt Management
  • Student Loan Help
Learn more about debt relief


    • facebook
    • Google Plus
    • Twitter
    • YouTube
    • Instagram
    • Linkedin
    • facebook
    • Tools & Resources
    • Contact Us
    • About Us
    • Blog
    • Debt Calculator
    • Frequently Asked Questions
    • Sitemap
    • Reviews
    • Client Login
    Free Savings Estimate
    Apply Here
    Clients who stay according to debt relief program can realize approximate savings of 50% before fees, or 30% including fees, over 12 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for reasons such as: their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period. We do not assume consumer and/or business debt, provide tax, bankruptcy, accounting, legal or credit repair services/ advice. Our program is not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. If you have any additional questions please contact us.
    Copyright 2020. United Debt Settlement, LLC