Author Archives: Site Administrator
How can I stop the bank from foreclosing on my home?
In a previous post in this series, we discussed the foreclosure process and the steps lenders must take before initiating a foreclosure on your property. In that same post, we also mentioned that there may be steps you can take to stop the foreclosure and keep your home. Today we want to get into… Read More »
Proofs of claim in Florida Chapter 13 bankruptcy cases
As part of the Chapter 13 bankruptcy process, a Florida debtor’s unsecured creditors are required to file proofs of claim within the specified time or they will lose their rights to collect on their debts. Some of the creditors will not file proofs of claim if they feel that the bankruptcy process isn’t worth… Read More »
Disability benefits and Chapter 13
In Florida and elsewhere across the country, some individuals who are looking to reorganize their obligations through a Chapter 13 bankruptcy may want to know if Social Security Disability benefits must be considered income that is available to repay creditors under the plan. It is a somewhat complex issue, but there are two federal… Read More »
Does the bank have the right to take my home?
If you are behind on your mortgage payments, it is possible for the bank to foreclose on your home. When you signed your mortgage agreement and promissory note, your house was put up as collateral in the event that you were unable to make your mortgage payments. That means the bank can force the… Read More »
Signs it’s time to file for bankruptcy
Even as the economy improves, there are many Florida residents that struggle to pay the bills each month. With no other option, some cash-strapped people are forced to use credit cards to pay for basic things like gas, food and utility bills. Using credit for necessary expenses is one sign that a person’s finances… Read More »
Automatic stay buys time for consumers to manage debts
When a Florida resident files for bankruptcy protection, the court creates an injunction against creditors called an automatic stay. With a few exceptions for debts like taxes and child support, the stay blocks lawsuits filed by creditors, individuals, collection agencies or government agencies. The stay could grant the person time to negotiate new terms… Read More »
When is the right time to contact a lawyer about foreclosure?
By the time the lender contacts you to inform you of its intent to foreclose on your home, there has almost certainly been communication between you and the bank regarding past due mortgage payments. Whether through late fees on your mortgage statements, demand letters or collection calls, lenders take specific steps to collect past… Read More »
The Chapter 13 repayment plan
Filing for Chapter 13 bankruptcy may allow Florida debtors to retain more property than they would otherwise be able to keep in a Chapter 7 bankruptcy. Unlike Chapter 7 bankruptcy, Chapter 13 cases do not involve liquidating assets. Instead, debtors are required to repay a portion of their debts over a period lasting from… Read More »
How does foreclosure work?
It All Starts With A Single Missed Payment Foreclosure actions start with a single missed payment. If you miss a payment, your lender will likely assess a late fee and your next mortgage statement will show two payments due plus the late fee. If you miss a second — or, at most, a third… Read More »
Court takes common sense approach to homestead exemption
Florida residents who have a regular and reliable source of income and file for Chapter 13 bankruptcy are generally able to retain their property while obtaining debt relief. The homestead exemption protects the equity that debtors have accumulated in their primary residences from creditors, but the courts have been inconsistent in determining how this… Read More »