Recent Blog Posts
NHL Star Files for Bankruptcy
Bankruptcy is not only for the poor and low income. Many wealthy people also struggle financially, becoming so overextended that they can no longer pay their bills. A recent example of this is NHL forward Evander Kane, who filed for Chapter 7 bankruptcy protection last week. Kane is a forward for the San Jose… Read More »
Chapter 7 Bankruptcy & Overseas Assets
Many people have assets outside the country. They might own a boat that is docked in Bermuda, or a vacation property in the Caribbean or Mediterranean. Others hold financial assets in a trust that is offshore. With a Chapter 7 bankruptcy, the trustee is empowered to sell assets you own that you cannot exempt…. Read More »
Bankruptcy Statistics for 2020
2020 was a year unlike any other. And, in the bankruptcy realm, it was also unusual. According to statistics gathered by legal services provider Epiq, last year saw the fewest bankruptcy filings since 1986! Despite the crumbling economy, fewer individuals and businesses filed for bankruptcy protection since Ronald Reagan was president. However, whether this… Read More »
Student Loan Payments Will Resume for Millions of Borrowers
Roughly 42 million people with student loans will soon have to start making payments again. The payment freeze in place since March will lapse at the end of the year. Consequently, borrowers should anticipate having to cut a check in January unless the President and Congress act. If you have federal student loans, prepare… Read More »
What Happens to Car Leases in Bankruptcy?
Many people realize that they might lose personal property if they file for Chapter 7 bankruptcy protection. But what about property you don’t own but instead lease? Thousands of people lease a vehicle, so they are naturally curious about what will happen to their lease in a bankruptcy. Let our Plantation bankruptcy attorney explain… Read More »
What Are Priority Debts in Bankruptcy?
Not all debts are treated equally in bankruptcy. Instead, some are considered more important than others, and they go by the name “priority debts.” Many of our clients have debts that the bankruptcy code identifies as “priority,” so our clients should have some idea of what they are and how they are handled. Our… Read More »
What Assets Can You Lose in a Chapter 7 Bankruptcy?
Bankruptcy is rarely anyone’s first option for dealing with debt. Nevertheless, there usually comes a time where people simply cannot pay their bills. Searching for answers, many finally confront the possibility that bankruptcy makes the most sense. One key concern, however, is what assets they will lose. Chapter 7 bankruptcy is not a free… Read More »
Will the Covid Vaccine Rescue Small Businesses?
The federal government has recently approved several vaccines for the novel coronavirus, and truckloads of shipments have been arriving in Florida. But will the vaccine be a game changer that rescues our slumping economy? Since the pandemic broke out in March 2020, the South Florida economy has been hammered. Our region has seen over… Read More »
Thousands Evicted after State Moratorium Expires
To help struggling renters during the coronavirus pandemic, Governor DeSantis signed an eviction moratorium, which he subsequently extended. However, the Governor let the moratorium expire at the end of September. The results have been dramatic. No full study has been performed of the number of evictions across the state. But piecemeal reports suggest that… Read More »
How Big are the Downsides of Filing for Bankruptcy?
CNBC has an interesting article on challenges consumers can face going forward should they file for personal bankruptcy. The list is accurate. However, the article doesn’t give consumers a realistic sense of the seriousness of these costs. As seasoned Plantation bankruptcy attorneys, we have listened as many clients expressed their fears of filing. Fortunately,… Read More »