Tag Archives: Chapter 13
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 »
When is the right time to contact a lawyer about foreclosure?
By the time the lender contacts you to inform you of its intent to foreclose on your home, there has almost certainly been communication between you and the bank regarding past due mortgage payments. Whether through late fees on your mortgage statements, demand letters or collection calls, lenders take specific steps to collect past… 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 »
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 »