Tag Archives: Chapter 13
Bankruptcy and the homestead exemption
Florida residents who are filing for bankruptcy may be able to keep their homes under their state’s homestead laws. In fact, of all the states, Florida is one of the most protective in helping people keep their homes. Even without filing bankruptcy, registering some property as “homestead” usually prevents creditors from taking it. While… Read More »
Florida homeowners might get relief from secured debt liens
A recent federal appeals court decision might provide hope for Florida debtors seeking to remove the lien of a secured debt by filing for bankruptcy under Chapter 13 of the Bankruptcy Code. Care should be taken by debtors seeking to stop foreclosure by removing a creditor’s lien on real property based upon the court’s… Read More »
Former NFL player’s bankruptcy is discharged
Florida fans of former NFL player Bob Whitfield may be interested to learn that four and a half years after filing for bankruptcy, he has cleared his debts. On July 1, 2011, he filed for Chapter 13 bankruptcy. At the time, he claimed his only income was just under $3,500 in disability while his… Read More »
Debts that can’t be discharged in Chapter 13 cases
While many debts may be discharged through a Chapter 13 bankruptcy, there are some that will not be. In a Chapter 13 bankruptcy, Florida debtors are subjected to a court-approved payment plan that lasts from three to five years with most debt balances remaining after the plan has been completed discharged. Two unsecured debt… Read More »
The Chapter 13 filing process in Florida
The goal of Chapter 13 bankruptcy is to allow someone to get out of debt by creating a repayment plan that will help him or her pay off what is owed. After filing bankruptcy, some debt may be written off, and people may additionally benefit from lower monthly payments. Since paying off debt is… Read More »
Chapter 13 bankruptcy repayment plans
Florida residents who are considering Chapter 13 bankruptcy are sometimes confused about how their financial obligations will be consolidated into a three- to five-year repayment plan. Bankruptcy fees and most outstanding taxes are considered priority debts, and they take precedence over secured debts like car loans and mortgages. Unsecured obligations like credit cards and… Read More »
Required education for filing bankruptcy
For many years, people in Florida and around the country could file for bankruptcy without being required to go through any process that would educate them about their financial options. This changed in 2005, when laws were passed that made credit counseling from an approved agency prior to filing mandatory. People are now also… Read More »
Chapter 13 bankruptcy repayment plans
When Florida residents file for Chapter 13 bankruptcy, they must submit a repayment plan within two weeks of their petition. This plan must disclose how much the debtor will be paying to the bankruptcy trustee. Payments are generally made on a monthly or biweekly basis, and the plan lasts from three to five years… Read More »
Understanding Chapter 13 bankruptcy requirements
Unlike Chapter 7 bankruptcy, Chapter 13 bankruptcy allows Florida consumers to keep their property while repaying a portion of their debts over a three- to five-year repayment plan period. To be able to file under Chapter 13, people must first meet the eligibility requirements. Corporations or limited liability companies are ineligible to file for… Read More »
Consumer protection from harassment by debt collectors
When Florida residents receive phone calls from debt collectors, they are often harassed. Harassment by debt collectors is prohibited by the federal Fair Debt Collections Practices Act. The law defines both harassment by debt collectors as well as who is considered to be a debt collector. Under the law, a debt collector is defined… Read More »