What is Chapter 7 Bankruptcy

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BANKRUPTCY LAWYER QUESTION FROM ST PETERSBURG, FLORIDA What is a Chapter 7 Bankruptcy asks St Petersburg, Florida Resident Mr. O. Chapter 7 Bankruptcy is a Bankruptcy formed under Chapter 7 of the Bankruptcy Code. Generally, a Chapter 7 Bankruptcy is filed by a Debtor seeking to Discharge or eliminate Unsecured Debt, such as Credit Cards, Medical Bills, Deficiencies on Home or Automobile Loans, Signature Loans, and other Debts classified as Unsecured.   A Debt is Unsecured if it is not Secured by any form of Collateral. Read More +

Itt Technical School Closing Part Ii – A Symptom of A Greater Disease

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Upon the Department of Education’s decision to bar ITT Technical Institute from receiving Federal Student Aid, namely, Student Loans and Grants, ITT announced the closing of its Campuses. The focus of the Department of Education investigation of ITT was related to what is referred to as the Gainful Employment Rule.  The Departments Gainful Employment Rule mandates that in order for an Institution to continue receiving such Federal Aid and Sanction, the Institution must maintain at least at 70% retention and placement rate. Such a mandate Read More +

Itt Closing – Options for Itt Students

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ITT Technical Institute, which operated over 130 campuses and served approximately 45,000 students, announced its closing, resulting from it appears, numerous actions by the Federal Department of Education.  The Department of Education in August of 2016 required ITT to post a Letter of Credit in the amount of $153 million dollars, in addition to $94 million dollar Letter of Credit the Institute was required to post only a few months prior.  Almost concurrent with the new posting demand by the Department of Education came the Read More +

Bankruptcy Affect on Employment

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BANKRUPTCY ATTORNEY QUESTION FROM BRANDON, FLORIDA Igor B of Brandon, Florida asks: “will filing Bankruptcy affect either my present or future employment?” Bankruptcy Code Section 525(a) or as it is properly known, 11 USC  525(a) states that no Governmental Unit may deny, revoke, suspend or refuse to renew a license, permit, franchise, or deny employment to, terminate the employment of or discriminate with respect to the employment of a Debtor who has filed Bankruptcy.  Bankruptcy Code Section 525(b) states that no Private Employer may terminate Read More +

Bankruptcy Court Tampa

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The Bankruptcy Court for Tampa, Florida is located at 801 N Florida Avenue, #555, Tampa, Florida  33602.  The Phone Number for the Bankruptcy Court in Tampa is 813-301-5162, and the Court is open Monday through Friday between 8:30 AM to 4 PM. The website for the Bankruptcy Court is www.flmb.uscourts.gov.   This website is a useful tool for both Debtors and Bankruptcy Attorneys because among other information, the website contains Sections on Administrative Orders, Bankruptcy Code, Local Rules, Mortgage Modification Mediation Procedures, Negative Notice Lists and Read More +

What is A Credit Counseling Certificate in Bankruptcy?

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BANKRUPTCY ATTORNEY QUESTION FROM CLEARWATER, FLORIDA Ted Owen from Clearwater, Florida asks the Bankruptcy Attorney, What is a Credit Counseling Certificate as used in Bankruptcy?   The Credit Counseling Certificate is an invention of the 2005 Bankruptcy Act passed by Congress and signed by George W Bush. The Credit Counseling Certificate became a requirement for all those filing Bankruptcy.  With a few exceptions, any Individual seeking to file Bankruptcy must first procure a Credit Counseling Certificate.  The Credit Counseling Certificate basically certifies that the subject Individual Read More +

Treatment of Attorney Fees From Divorce or Family Court Proceedings in Bankruptcy

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BANKRUPTCY ATTORNEY QUESTION FROM LAKELAND, FLORIDA Rabbi Levin, from Lakeland, Florida asks, how are Attorney Fees arising from Divorce or Family Court Proceedings, treated in Bankruptcy? Thank you for your question, Rabbi Levin, from Lakeland, Florida. In a Chapter 7 Bankruptcy, such Attorney Fees, are generally not Discharged or Dischargeable in Bankruptcy. In Re Johnson [Bankr. C.D. III, 2012], the Bankruptcy Court held that a Husband’s obligation to pay the Attorney Fees of his former Wife, pursuant to a Marital Settlement Agreement, was not eligible Read More +

Treatment Domestic Support Obligations in Bankruptcy

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Domestic Support Obligations, sometimes referred to as DSO’s, are Classified as Priority Debts in Bankruptcy.  Please refer to Bankruptcy Code Sections 11 USC 507(a)(1), 523(a)(5) and 523(a)(15).  Priority Debts are generally paid first in a Chapter 13 Bankruptcy through the monthly payments the Debtor makes to the Chapter 13 Trustee, or through a Chapter 7 Bankruptcy, through any Distribution of Assets that may be available through the Liquidation of the Assets of the Debtor, that are not Exempt Assets.  Priority Debts must also be paid Read More +

How Long Can I Keep My Automobile If I Surrender It in Bankruptcy?

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BANKRUPTCY ATTORNEY QUESTION FROM CLEARWATER, FLORIDA How long can I keep my automobile or car if I intend to surrender it in Bankruptcy?  Thank you to Mark Zadar of Clearwater, Florida for your question.  This is a common question asked by the Clients that come to our offices.  Sometimes, a person filing Bankruptcy will determine that it is in his or her best interest to surrender their automobile in the Bankruptcy. Generally, if you surrender your automobile in the Bankruptcy, such surrender of the collateral Read More +

What is A Certificates for Domestic Support Obligation in Bankruptcy?

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BANKRUPTCY ATTORNEY QUESTION FROM PORT RICHEY, FLORIDA A man by the name of Chino, living in Port Richey, Florida asks the Bankruptcy Attorney, I received a paper titled Certificates for Domestic Support Obligation, and I am in a Chapter 13 Bankruptcy.  What does this mean?  Thank you, Chino of Port Richey, Florida.  To begin, I have attached the actual Form used by probably many Bankruptcy Attorneys: Click here to download the form. The standard Domestic Support Obligation Form used in Bankruptcy Proceedings, at least in Read More +