Category Archives: Bankruptcy
Think You Might File for Bankruptcy? Take These Steps Now
We have previously written about how important it is to time your bankruptcy just right. Once a consumer files, they cannot add future debts that they incur to their bankruptcy. With the economy in free fall, many people are racking up debt just trying to keep their heads above water. Believe it or not,… Read More »
Virginia Man Fakes Death to Avoid Losing Assets in Bankruptcy
Some people will do anything to avoid bankruptcy court—including faking their own death. Complex has an interesting article about the lengths one Virginia man took to avoid losing assets during his bankruptcy. The schemes used certainly go above and beyond what most people are willing to do. However, this story serves as a definite… Read More »
Giant Retailer J.C. Penney Files for Bankruptcy
J.C. Penney is the latest retailer to file for Chapter 11 bankruptcy protection. According to USA Today, the retailer expects to close almost 30% of its stores as it tries to emerge leaner and more competitive. In all, about 242 stores should close in the next fiscal year, leaving Penney’s with a little over… Read More »
5 Things to Know Before Filing for Bankruptcy
Filing for bankruptcy is an option many people dread. However, for many consumers it is the most sensible option. Filing for bankruptcy protection grants a consumer immediate protection from any collection actions, such as lawsuits on unpaid debts or eviction actions. Depending on the bankruptcy you file, you might also be able to eliminate… Read More »
How Is Congress Helping Student Loan Borrowers?
It is no secret that student loan debt is a serious drag for many Americans, including those who are middle aged. Collectively, Americans owe almost $2 trillion in student loan debt, and many are paying huge sums each year to cover only interest. The recent COVID-19 pandemic has wiped out income for many of… Read More »
Saving Money in these Challenging Times
This is a difficult time financially for many people in South Florida. People have not only lost jobs but have no idea when they will find another. Even those who have had their hours reduced do not know if they will ever return to full-time employment. With finances tight, saving money is at a… Read More »
Want to Buy a Used Car? Contact Hertz
Hertz rental car company recently filed for bankruptcy protection, and the decision has had an unusual effect: the market for used cars is being flooded with inventory. Now is a great time for those in the market for a used vehicle to check whether they can buy one from Hertz at a cheap price…. Read More »
Can States File for Bankruptcy?
This might be surprising to hear, but states cannot file for bankruptcy. Bankruptcy is a creature of federal law, and the code must authorize an entity to file before it can. There are laws that allow individuals and businesses to file, as well as cities and municipalities. However, there is no law that currently… Read More »
Can You Use Bankruptcy to Delay an Eviction?
To help renters during the COVID-19 pandemic, Governor DeSantis suspended evictions based on non-payment until July 1. But that suspension will soon come to an end, what can tenants do if they are still unable to pay their rent? This has been a difficult time financially for many people, and not all jobs have… Read More »
Having Trouble Sticking with Your Chapter 13 Payment Plan?
Chapter 13 is the second-most popular bankruptcy for consumers in Florida. However, it is also difficult to complete, requiring that debtors stick with a payment plan that lasts three to five years. With the economy in a tailspin due to the coronavirus pandemic, many people have lost their jobs. Unfortunately, those experiencing reduced hours… Read More »