Category Archives: Chapter 13
What debts remain after a Chapter 13 bankruptcy?
While Chapter 13 bankruptcy may eliminate some debts, others will remain after the repayment period ends. For instance, Florida parents who still owe child support will have to make those payments even after obtaining a discharge. Student loans, liabilities stemming from a drunk driving incident and other fines or restitution may also remain after… Read More »
Recent ruling could impact bankruptcy estates in Florida
A judge from the U.S. Bankruptcy Court for the Western District of Louisiana ruled on Aug. 5 that proceeds from an auto accident settlement can be considered part of a bankruptcy estate. The case involved a man who was in an accident three years after his plan had been confirmed, and the court took… Read More »
What happens when creditors return payments to the trustee
When Florida residents decide to file for bankruptcy, they will often choose between Chapter 7 and Chapter 13. Unlike a Chapter 7 bankruptcy, Chapter 13 cases involve the debtor repaying his or her debts pursuant to a payment plan that lasts from three to five years. Debtors submit their payments to the bankruptcy trustee,… Read More »
Deficiency lawsuits and how to make them go away
After Florida consumers see their homes foreclosed or their cars repossessed, they are often shocked when their creditors still come after them for the deficiency amounts that they owe. If you are being harassed by creditors for deficiencies owed on repossessed or foreclosed property, you might not know what to do about the situation…. Read More »
Organization and purpose of bankruptcy courts
The federal government operates all bankruptcy courts. Federal laws guide the bankruptcy process, and state law in Florida would not apply to the actual bankruptcy filing. In 1978, the U.S. Congress enacted the laws of the Bankruptcy Reform Act. The purpose of the act was to create a consistent method for managing personal and… Read More »
Becoming late on mortgage payments
When Florida homeowners lose a job or experience other financial difficulties and fall behind on their mortgage, their homes could be targeted for foreclosure. However, just because a lender wants to pursue foreclosure doesn’t mean that a homeowner will lose the home. Homeowners are advised to contact their lender or otherwise take action as… Read More »
Assemblywoman explains bankruptcy in open letter
Florida residents who have a lot of outstanding debts but still earn a regular income may decide to file for Chapter 13 bankruptcy. A state assemblywoman from New York published an open letter Aug. 2 explaining why she and her husband had chosen to file for Chapter 13 bankruptcy. The Democratic assemblywoman released the… Read More »
Negotiating with credit card companies
Most people in Florida have some credit card debt that they would like to get rid of. As a person’s debt rises more and more, a person may become unable to afford the minimum monthly payments. Someone in this situation may decide to ask their creditors if they are willing to lower the monthly… Read More »
Bankruptcy may offer viable options
Your financial troubles might be extremely challenging, but they aren’t necessarily insurmountable. Although you may have blurred the line between where your business accounts end and your personal finances begin, there are certain forms of bankruptcy that could potentially help you deal with your debts to creditors in Florida and elsewhere. Of course, it’s… Read More »
Why debt settlement might not be a good option
Florida residents who are facing overwhelming levels of debt may think that debt settlement might be a good option. Debt-settlement companies try to negotiate settlements for their clients to pay substantially smaller amounts in exchange for their creditors forgiving the balance. There are several reasons why this might not be a good option, however…. Read More »