Author: Publisher
CHAPTER 7 BANKRUPTCY TREATMENT OF SECURED PROPERTY
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STATEMENT OF INTENTIONS IN BANKRUPTCY In a Chapter 7 bankruptcy, the debtor must complete and sign a form called the Statement of Intentions. The Statement of Intentions indicates which of the available options the debtor chooses towards his or her secured property. The primary examples of secured property are an automobile loan or a mortgage…
Toys R Us, The Retail Apocalypse And Mitt Romney’s Bain Capital
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2017 has been a particularly bad year for many of the nation’s retailers. On September 19, Toys R Us announced its filing of Chapter 11 Bankruptcy. Chapter 11 Bankruptcy is a form of bankruptcy wherein a corporation (or an individual whose debt exceeds certain monetary thresholds) seeks the reorganization of its debt through the mechanism…
Taxes and tax liens in bankruptcy
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WHEN TAXES MAY BE DISCHARGED IN BANKRUPTCY This article discusses the treatment of taxes due to the Internal Revenue Service (IRS). Income taxes due to the IRS may be dischargeable if such taxes meet five (5) criteria. 11 USC 507 and 523 hold that taxes are dischargeable in bankruptcy if: If the debtor, received an…
Hurricane Irma And Bankruptcy
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By Jay Weller Natural disasters and hurricanes and bankruptcy filings within affected areas are intuitively correlative. One would expect that the economic and property damage incurred by a hurricane, such as Hurricane Irma, that beset portions of Florida would have an impact on the number of subsequent bankruptcies filed within the affected regions. This article…
SOLAR ECLIPSE OF 2017 MOVES WEST TO EAST: HOUSTON, WE HAVE A PROBLEM!!
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SOLAR ECLIPSE DEFINED Wikipedia defines a solar eclipse as an occurrence when the Moon passes between the Earth and the Sun, which either partially or totally obscures the image of the Sun for an observer standing on the Earth. A total solar eclipse happens when diameter of the Moon appears larger than the diameter of…
A BRIEF INTRODUCTION TO LAKELAND, FLORIDA
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LAKELAND, FLORIDA EARLY HISTORY The Paleo-Indians came to the area known as central Florida and what is today known as Lakeland, Florida around the time of the end of the last ice age, according to Wikipedia. It is estimated that such pre Colombian cultures existed in the Lakeland area almost 12,000 years ago. According to…
BANKRUPTCY ASSISTANCE
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Bankruptcy assistance and representation in Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and most avenues to address issues with debt, are available here at Weller Legal Group PA. Weller Legal Group provides assistance in primarily Bankruptcy representation of debtors. However, we offer programs to address debt outside of Bankruptcy, including Credit Counseling, Debt Settlements, Foreclosure Defense,…
FAMILY OR HOUSEHOLD SIZE IN BANKRUPTCY
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The bankruptcy code does not contain a definition of family or household size. Under the 2005 Bankruptcy Abuse and Consumer Protection Act, Congress provided for the US Trustee Program or office, the authority to administer and enforce the means test which determines whether a debtor may qualify to file a Chapter 7 bankruptcy and determines…
CLEARWATER, FLORIDA
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EARLY HISTORY According to Wikipedia, one of the early tribes that resided in the area now known as Clearwater, Florida, was the Tocobaga peoples. In the early history of the area now referred to as Clearwater, Florida, there were clear springs that led from the banks of Clearwater into the bay. These springs no longer…
BANKRUPTCY CHAPTER 7 DISCHARGE
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In Chapter 7 Bankruptcy the Discharge is governed by Bankruptcy Code Section 11 USC 727. Any debtor who files Chapter 7 Bankruptcy is eligible for the Chapter 7 Bankruptcy Discharge provided the debtor meets certain qualifications, and follows the required procedures in the Chapter 7 Bankruptcy. A Corporation is not eligible for Discharge in Chapter…
FREE BANKRUPTCY CONSULTATION
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Free bankruptcy consultations are offered by Mr. Jay Weller at Weller Legal Group PA. Mr. Weller has practiced almost exclusively bankruptcy law beginning in 1993, with a concentration in the representation of debtors in Chapter 13 bankruptcy and Chapter 7 Bankruptcy. The consultation with the Bankruptcy Attorney is free and without charge, or obligation. Mr.…
TAX REFUNDS IN BANKRUPTCY
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The treatment of tax refunds is a popular issue in bankruptcy. Income tax refunds are commonly considered to be part of the bankruptcy estate. Therefore, if a debtor files Chapter 7 bankruptcy, the trustee may attempt to seize all or a portion of the debtor’s tax refund. In a Chapter 13 bankruptcy, the trustee may…