Tag Archives: Chapter 13
The means test in bankruptcy
Hard economic times force many Florida residents to consider the option of filing for personal bankruptcy. Debt relief and the promise to stop creditor harassment are only two of major incentives behind those trying to determine their eligibility to file under Chapter 7 or Chapter 13. As well as differences in length of time… Read More »
Rapper files for Chapter 13 bankruptcy protection
Florida residents may be interested to know that rapper Petey Pablo filed a Chapter 13 bankruptcy petition in North Carolina in April 2016. According to reports, he had roughly $50,000 in both assets and liabilities at the time of the filing. His creditors included Ford Motor Credit, Planet Fitness and the IRS. This is… Read More »
Consumers saving more, but also have credit card debt
An April 2016 survey suggests that people are trying to save more money, but more of them also have increased credit card debt. These two facts may eventually create a conflict. The survey looked at 1,600 adults. More than one-quarter reported making an effort to save more, and this was up slightly from the… Read More »
Debtor in Chapter 13 dismissal must pay lawyer fees
If Florida debtors file for Chapter 13 bankruptcy, their case is dismissed without confirmation, and the lawyer fees are returned to the debtor by mistake, the lawyer may be able to recover those fees. This was the April 14 ruling by the U.S. Bankruptcy Appellate Panel for the 1st Circuit. In doing so, the… Read More »
Refinancing a mortgage after filing for Chapter 13
After filing a Chapter 13 bankruptcy petition and starting on the required repayment plan, some Florida residents may wonder how soon they might be able to apply to refinance the mortgage on their homes. Some people want to do so while they are still in the repayment plan period. For others who have completed… Read More »
Research being done on individual Chapter 11 filings
Florida residents who have a lot of debt and the ability to earn future income may decide to file Chapter 11 bankruptcy. Though Chapter 11 is typically used by businesses, it is available to consumers as well. A preliminary report by the American Bankruptcy Institute’s Task Force on Individual Chapter 11 found that somewhere… Read More »
Differences between Chapter 7 and 13 bankruptcy filings
Florida residents thinking of filing for personal bankruptcy might like to know the difference between a Chapter 7 and a Chapter 13. The majority of people select Chapter 7 instead of Chapter 13. In fact, for 2015, of more than 800,000 personal bankruptcy filings that occurred during 2015, almost two-thirds were Chapter 7 and… Read More »
Options for avoiding foreclosure
Although the overall economic climate in the United States has improved from what it was during the financial crisis, the need to stop foreclosure remains a pressing issue for many homeowners. Some parts of the country have communities in which 20 percent or more of the homes have market values that are below the… Read More »
How bankruptcy affects credit scores
People in Florida who are unable to pay back all of their debts may consider filing for bankruptcy. The process can eliminate most unsecured debts that are owed or help debtors to establish a repayment plan that they can afford. While there are many benefits to filing for bankruptcy, one of the drawbacks is… Read More »
Eligibility requirements filing for bankruptcy under Chapter 13
Filing for bankruptcy may be an option for Florida residents looking for a way to stop debt-related lawsuits. Chapter 13 bankruptcy can stop wage garnishments and repossessions while allowing debtors to reorganize their obligations through a manageable payment plan. As a general rule, as long as a person makes the payments as required, creditors… Read More »