Category Archives: Chapter 13
The effect of getting a raise after filing for bankruptcy
In some Florida bankruptcies, the debtor will receive a pay raise during the pendency of the case. Whether or not a portion of that amount will go to the bankruptcy trustee depends on the type of bankruptcy the debtor has filed. In a Chapter 7 bankruptcy, the debtor’s non-exempt assets at the time the… Read More »
Chapter 13 bankruptcy and income tax refunds
Florida residents who wish to pursue debt relief are sometimes deterred because the required means test precludes them from filing a Chapter 7 bankruptcy. While a Chapter 13 filing may seem to be a less attractive alternative, it does provide the opportunity to escape oppressive debt and secure a fresh financial start. However, many… 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 »
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 »
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 »
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 »
Court holds that FDCPA and bankruptcy laws don’t conflict
Debtors in Florida may be interested in a recent ruling by the U.S. Court of Appeals for the 11th Circuit, the federal circuit that has jurisdiction over federal claims brought in the state. The case involved debtors who had filed for Chapter 13 bankruptcy. The debtors had creditors holding claims that were time-barred by… Read More »
How bankruptcy laws could safeguard your retirement
Many Florida residents worry that they do not have enough saved or invested to allow them to enjoy their retirement years in comfort, and they sometimes have little choice but to use the money that they have diligently put into their retirement accounts to make ends meet when confronted with an illness or other… Read More »