Category Archives: Chapter 13
Bankruptcy myths to ignore
Filing for bankruptcy may be a last resort for many, but it doesn’t mean that it will leave debtors with nothing. In many Chapter 7 cases, Florida debtors do not lose an asset either because it is exempt, not worth anything or has a loan or lien on it. In Chapter 13 cases, debtors… Read More »
Maintaining a Chapter 13 bankruptcy
Chapter 13 bankruptcy is a reorganization of debt, and it may be a a viable alternative for Florida residents who have a steady income but who are still struggling with their obligations. Debts are repaid pursuant to a court-approved plan that lasts three years for people making less than or right at the median… Read More »
An lawyer may help stop debt collection calls
Those residing in Florida may be aware of the stress that constant debt collection calls can create. However, debt collectors are required to follow laws noted in the Fair Debt Collection Practices Act, or FDCPA. If debt collectors are breaking these laws, it is possible to have the calls stopped. There are a number… Read More »
Unmanageable unsecured debt in Florida
If you are overwhelmed by unmanageable levels of unsecured debt, you are not alone. Thousands of people find themselves deep in debt and unable to make their payments. While unsecured debt doesn’t have any property as collateral, creditors may still try to enforce their interests by filing lawsuits against you or seeking to garnish… Read More »
Producer files for relief from a variety of debts
Florida music fans may not already know that producer Jazze Pha has filed for Chapter 13 bankruptcy claiming that he is $625,000 in debt. That is compared to less than $590,000 in assets including two music companies each worth $1,000 as well as electronics worth an estimated $1,000. He also owns a 2010 and… Read More »
Late payments in a Chapter 13 bankruptcy
Florida residents who have filed for Chapter 13 bankruptcy may wonder what will happen if they are late with a payment. In a Chapter 13, reorganized debts are being repaid on a monthly basis to the trustee pursuant to a three- to five-year court-approved plan. The trustee then distributes the payments to creditors. Regarding… Read More »
Why bankruptcy may be advisable
While Florida residents have probably heard that filing for bankruptcy is the worst possible thing they can do for their credit scores, that is not always true. For many people, their credit scores increase substantially after they receive their bankruptcy discharges. In most cases, by the time people file for bankruptcy, their credit is… Read More »
Debtor does not have to pay creditors in Chapter 13
Florida residents with overwhelming financial obligations may think that Chapter 7 is the only way that they can get out of debt. In reality, Chapter 7 liquidation bankruptcy is just one option for those who have more debt than they can afford to repay. Chapter 13 bankruptcy can allow a debtor to repay some… Read More »
Ending deficiency lawsuits filed by creditors
If you have recently gone through a repossession or a foreclosure in Florida, you may believe that your creditor will not come after you any further. Unfortunately, if you owe a deficiency above the value of the car that was repossessed or the home that was foreclosed, the law allows your creditors to file… Read More »
Husband and wife forced to keep old car in Chapter 13 case
Floridians who are considering filing for Chapter 13 bankruptcy protection may want to take note of a recent case decided in the U.S. Bankruptcy Court for the Eastern District of North Carolina. In the case, the debtors were not allowed to surrender their 15-year-old vehicle with high miles to the secured lender. The husband… Read More »