Category Archives: Bankruptcy
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 »
Reopening a Bankruptcy Case
Most bankruptcy cases go off without a hitch, especially if you hire a South Florida bankruptcy attorney to represent you. However, sometimes a person receives a discharge or has their case closed without receiving a discharge only to realize they need to reopen their case. If you did not use a lawyer for your… Read More »
Are You a Small Business Considering Bankruptcy?
For a long time, small businesses had basically one bankruptcy option—Chapter 7 liquidation. If they wanted to continue to operate, they would have to file for Chapter 11 protection, which had onerous paperwork requirements. Fortunately, Congress stepped up to the plate and passed the Small Business Reorganization Act of 2019, which is called Subchapter… Read More »
Five Financial Resolutions for the New Year
The new year is a great time to commit to changes in your life—including financial changes. Many Americans continue to struggle with debt and a lack of savings, which has caused incredible stress during a topsy-turvy year. Now is the best time to adopt a few, commonsense resolutions that will set you put well… Read More »
How Big is Your Household for the Chapter 7 Means Test?
Congress reserved Chapter 7 bankruptcy for those who are truly needy. Their thinking was that many people with substantial incomes were filing for Chapter 7 when they could really pay off their debts. So Congress created a “means test” that applicants must pass before they can file for Chapter 7 protection. Put simply, the… Read More »
Questions about the Chapter 13 Confirmation Hearing
In a Chapter 13 bankruptcy, a debtor will make monthly payments to creditors for three to five years. This is the longer of the two consumer bankruptcies (the other being Chapter 7), but Chapter 13 works in many situations. The centerpiece of a Chapter 13 bankruptcy is the payment plan, which must be confirmed… Read More »
Credit Card Issuers Are Looking for New Customers
If you’re in the market for a credit card, there is good news. According to Bloomberg, lenders are aggressively trying to sign up new customers for the remainder of the year. Do not be surprised if you see offers showing up by the dozen in your mailbox. Card companies American Express and Capital One… Read More »
How Will Joe Biden Reform Bankruptcy?
Now that Joe Biden is President-Elect, it is a good time to consider his plan to reform U.S. bankruptcy laws. This area did not get quite the attention it deserved during the campaign, but Biden did put out a series of reform proposals. Although he might not get any of these passed, it is… Read More »
Stimulus Funds Cannot Prevent Businesses from Going Broke
The coronavirus pandemic has wreaked havoc on the nation’s business community. With nearly every state issuing stay-at-home orders and limiting indoor gatherings, a host of industries have been pushed to the brink. Congress tried to help businesses by creating the Paycheck Protection Program, called PPP. This program provided loans to small businesses to cover… Read More »