Categories: News

Florida Debt Relief: What Actually Works and What Doesn’t

If you’re reading this, chances are you’re feeling overwhelmed. Maybe the credit card bills are piling up. Maybe you’ve fallen behind on loan payments. Maybe you’re just tired of juggling minimums and watching your balance barely budge.

You’re not alone, and you’re not out of options either.

Let’s walk through the debt relief programs available in Florida. We’ll break down what each one offers, what it doesn’t, and why some may not work for your situation. And yes, we’ll also explain how CuraDebt fits into all of this.

The Reality of Debt in Florida

Before we dive into solutions, let’s look at the landscape:

The average Floridian carries over $5,600 in credit card debt
The state ranks among the highest in the U.S. for bankruptcy filings and foreclosures
Many households owe more than $49,000 in non-mortgage debt

If that sounds familiar, you’re not imagining things. Debt is a serious issue here in The Sunshine State. But relief is possible.

“Can I Just Manage This Myself?”

That’s often the first question. And it’s a fair one.

You might be thinking: “Maybe I just need to budget better. Maybe I can negotiate with my creditors myself.”

That’s a good instinct. But here’s the truth: if your debt has already become unmanageable, if you’re missing payments, getting collection calls, or using one card to pay off another — then DIY strategies may not be enough.

TV experts recommend starting with a budget and cutting expenses. But if you’ve already tried that and still can’t keep up, it’s time to look at other structured programs.

Option 1: Debt Management Plans (DMPs)

These are offered by nonprofit credit counseling agencies. You make one monthly payment to the agency, and they pay your creditors, often with reduced interest rates.

Pros:

Lower interest rates (sometimes down to 8%)
One monthly payment
No credit score requirement

Cons:

Only covers unsecured debt (like credit cards)
You must stick to the plan for 3–5 years
Miss a payment, and the deal could fall apart

Important:

If your debt includes medical bills, payday loans, or anything outside of credit cards, a DMP won’t help. And if your income is unstable, keeping up with fixed monthly payments could be risky.

Option 2: Debt Consolidation Loans

This involves taking out a new loan to pay off your existing debts ideally at a lower interest rate.

Pros:

Simplifies payments
May reduce interest
Can improve credit if managed well

Cons:

Requires good credit
Doesn’t reduce the amount you owe
Adds more debt if you keep using credit cards

Important:
If your credit score has already taken a hit, lenders may deny you or offer high interest rates — defeating the purpose. And if you’re already struggling to make payments, adding a new loan could make things worse.

Option 3: Debt Settlement

This is where CuraDebt comes in. Debt settlement means negotiating with creditors to pay less than what you owe and it’s usually a good chunk less.

Pros:

Reduces total debt
No need for a loan
The goal is to eliminate debt

Cons:

Credit score may drop temporarily
Forgiven debt may be taxable
Not all creditors will settle

Important:
If you’re already behind on payments or facing collections, your credit is likely already affected. Debt settlement gives you a path forward. CuraDebt can handle the negotiations, paperwork, and creditor calls for you.

We’ve helped thousands of Floridians reduce their debt without bankruptcy. And we’re upfront about the risks and rewards. See our debt settlement letters.

Option 4: Bankruptcy

Bankruptcy is a legal process that can wipe out most unsecured debts. Florida allows you to keep certain assets, like your home and car, depending on the chapter you file.

Pros:

Can eliminate most debts
Stops collections and lawsuits
Offers a fresh start

Cons:

Stays on your credit report for 7–10 years
May require selling assets (Chapter 7)
Requires court filings and legal fees

Important:
Bankruptcy is a last resort. It’s not something to fear but it’s also maybe not something to rush into either. If you can resolve your debt without court involvement, that’s usually the preferred path.

“So… What Should I Do?”

If you’ve read this far, you’re probably wondering: “Which of these actually fits my life?”

That’s where CuraDebt comes in. We don’t push one-size-fits-all solutions. We look at your full financial picture income, expenses, debt types, credit score and help you choose the best path forward.

Sometimes that’s debt settlement. Sometimes it’s making a case for tax deductions you might be eligible for. Sometimes it’s debt restructuring.

And we do it with full disclosure at every stage and with great professionalism.

A Snapshot of Florida Debt Relief Programs

Residents across Orlando, Miami, and Tampa carry an average of over $6,000 in credit card debt. Here’s how local options compare:

Program	Key Benefit	Main Drawback
Debt Management	Lowered interest rate	Strict payment rules; fees accrue
Consolidation Loan	One fixed-rate loan	Requires good credit; origination fees
Chapter 7 Bankruptcy	Quick discharge of unsecured debt	Long-term credit damage; legal costs
Debt Settlement	Cuts principal balances significantly	Plan fees before starting the process