Tag Archives: Chapter 13
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 »
Understanding debt management and bankruptcy
Many Florida residents are struggling with unmanageable amounts of debt. They may be using credit cards to pay the minimums on yet other credit cards, have debt collectors calling them, be on the verge of eviction and other issues. A person who is in this type of situation may benefit by filing for bankruptcy… Read More »
Keeping debt collectors honest
When Florida residents charge items on a credit card, it is their responsibility to pay off what is owed. It is also the responsibility of debt collectors to make sure that obligations are repaid in a timely manner. While most people believe that debt collection agencies are legitimate businesses, their methods of getting the… Read More »
Student loan debt refief scams proliferate
Many recent Florida college graduates are attempting to deal with their burden of student loan debt, and they are sometimes finding themselves preyed upon by unethical companies that promise debt relief but deliver only more economic harm. These organizations skirt the law, sometimes straying into fraud in their attempt to take advantage of needy… Read More »
What to do before filing for bankruptcy
For Florida residents who cannot repay their debts, bankruptcy can be a way to get a financial fresh start. One of the first things they should do is to make sure that they have explored all of their other options such as credit counseling and debt consolidation. After they have determined that filing for… Read More »