Author Archives: Site Administrator
Foreclosure numbers better, but still fairly high
It’s tempting to think that the foreclosure crisis has passed. It’s been long enough, for example, that a recent Oscar-winning film, “The Big Short,” has been made about the housing bubble’s burst in 2008, leading to millions of foreclosures and causing a major hit to the economy. While that movie depicts historical events, the… Read More »
Chapter 13 bankruptcy repayment plans
When Florida residents file for Chapter 13 bankruptcy, they must submit a repayment plan within two weeks of their petition. This plan must disclose how much the debtor will be paying to the bankruptcy trustee. Payments are generally made on a monthly or biweekly basis, and the plan lasts from three to five years… Read More »
Understanding Chapter 13 bankruptcy requirements
Unlike Chapter 7 bankruptcy, Chapter 13 bankruptcy allows Florida consumers to keep their property while repaying a portion of their debts over a three- to five-year repayment plan period. To be able to file under Chapter 13, people must first meet the eligibility requirements. Corporations or limited liability companies are ineligible to file for… Read More »
Consumer protection from harassment by debt collectors
When Florida residents receive phone calls from debt collectors, they are often harassed. Harassment by debt collectors is prohibited by the federal Fair Debt Collections Practices Act. The law defines both harassment by debt collectors as well as who is considered to be a debt collector. Under the law, a debt collector is defined… Read More »
Basics of Chapter 13 bankruptcy
For eligible Florida debtors, Chapter 13 bankruptcy may offer timely debt relief. To qualify, an individual may not have had debts discharged under Chapter 13 bankruptcy in the past two years or under Chapter 7, 11 or 12 bankruptcy in the past four years. Debtors must also be current on all domestic support obligations… Read More »
Partially secured lien cannot be stripped in court ruling
Florida residents may be interested in a New Jersey court decision that was handed down on Feb. 17. A U.S. District Court judge ruled that claims for unpaid fees from a condominium association were partially secured by the debtor’s home. This means that they cannot be stripped when filing for Chapter 13 bankruptcy. It… Read More »
Social media photos raise questions about 50 Cent’s bankruptcy
Florida residents may recall that Curtis Jackson III filed for Chapter 11 bankruptcy protection in July 2015. Jackson, who is better known by his stage name 50 Cent, decided to pursue bankruptcy after a jury ordered him to pay $7 million to a female acquaintance for publishing a sex tape without permission. The famous… Read More »
Filing for bankruptcy after large amounts of gambling
There are a number of reasons that Florida residents may need to file for bankruptcy, and gambling away someone’s savings is one of them. When people rack up a large amount of gambling debt, they may be wondering if they are still able to file for bankruptcy. In many cases, they will be able… Read More »
Debt relief options for Florida residents
Individuals struggling to cope with an unmanageable financial situation have a number of debt relief options available to them, but unfounded fears that pursuing some of these options could lead to dire consequences will deter many of them from taking action. While discharging a debt in a bankruptcy or settling it for less than… Read More »
Satisfying the conditions of Chapter 13 bankruptcy in Florida
On Feb. 5, a district court in Delaware found that it is not a debtor’s absolute right to convert a Chapter 7 bankruptcy to a Chapter 13 bankruptcy. In doing so, it upheld an earlier bankruptcy court decision denying a conversion motion brought by debtors who wouldn’t qualify as such under Chapter 13. In… Read More »