Category Archives: Chapter 13
Appellate ruling favors lenders in Chapter 13 case
Florida residents may be interested in an appellate court ruling in March 2017 that serves as a reminder to both debtors and lenders about the importance of legal wording and the limits on modifying a loan in a Chapter 13 case. A debtor attempted to argue that $137,000 should be turned into an unsecured… Read More »
Court rules dog barking claim not dischargeable
Florida residents may be interested in a March ruling that set an important precedent for discharges in Chapter 13 bankruptcy cases. The ruling is an example of how certain judgments and debts may not be dischargeable in bankruptcy if they are pursued in court. The case involved a nuisance lawsuit due to the excessive… Read More »
Chapter 13 bankruptcy and a car loan cramdown
Florida residents who have filed for Chapter 13 bankruptcy might qualify for what is known as a loan cramdown on their car. The owners needs to be upside down on the loas. This means that they owe more on the car than the car is worth. There are two other requirements for a cramdown…. Read More »
Debt is growing once again
As Florida residents and Americans in general are feeling hopeful about the economy again after the Great Recession of a few years ago, they’re starting to rack up significant amounts of debt again. While the job market is fairly strong right now, there’s nothing that guarantees that there won’t be another economic downturn in… Read More »
The effect of collection accounts on credit reports
It is not uncommon for lenders in Florida to sell a person’s debt or allow a collection agency to pursue a debt on the lender’s behalf. When debt is sold to a collection agency, the agency will often report this to credit bureaus so that the debt appears on a person’s credit report under… Read More »
Form rule for Chapter 13 bankruptcy
Florida residents who are considering filing for Chapter 13 bankruptcy to resolve their debts may be interested to know about a new bankruptcy rule. The United States Bankruptcy Court for the Southern District of Illinois has added Rule 3015.1 to bankruptcy procedure. Beginning December 2017, districts will be required to use a national form… Read More »
Phantom debt scams in Florida
When people receive a call saying that they owe money to a creditor or the IRS, they may want to verify that they owe the money before making a payment. Called phantom debt scams, fraudsters will call people and state that they owe money to the government or an organization. Fraudsters will often be… Read More »
Struggling with medical debt
About a quarter of the working-age adults in Florida and around the country struggled with past-due medical bills in 2015 according to a study published on March 1 by the Urban Institute. The Washington, D.C., think tank says that younger Americans and those who earn less than $35,000 per year are more likely to… Read More »
Keeping a home while filing for bankruptcy
Florida residents who are applying for bankruptcy may be able to keep their homes. Bankruptcy allows exemptions for some property. However, keeping the home will depend upon several factors. One of those is whether an individual files for Chapter 7 or Chapter 13 bankruptcy. The latter allows more exemptions. However, if people are unable… Read More »
The benefits of dealing with debt now
It is common for Florida residents to have personal loans, credit card debt or student loans. Therefore, there may be less urgency to pay it down as soon as possible. However, it is still a good idea to eliminate debt as quickly as possible. One of the best reasons to pay off debt quickly… Read More »