Bankruptcy Chapter 11

From Clearwater, Florida comes a question from John J.  What is Chapter 11 Bankruptcy?  I have a small business, wish to retain my business, and either discharge or reorganize my personal and business debts.  Should I file a Chapter 11 Bankruptcy in order to accomplish these goals? There are numerous Chapters available under the Bankruptcy Code.  Chapter 7 Bankruptcy is a form of Bankruptcy wherein the Debtor usually seeks to Discharge unsecured debts, such as credit cards, medical bills, signature loans, and various other forms Read More +

Chapter 7 Bankruptcy

John F from Port Richey, Florida, asks Chapter 7 Bankruptcy, please explain.  Chapter 7 Bankruptcy is a type of Bankruptcy that is organized under Chapter 7 of the Bankruptcy Code.  Chapter 7 Bankruptcy is sometimes called a Straight Bankruptcy or Straight Liquidation.  However, the majority of our clients who file Chapter 7 Bankruptcy do not suffer the liquidation of any of their assets. When one files Bankruptcy, whether it is a Chapter 7 Bankruptcy, or a Chapter 13 Bankruptcy, the filer or debtor, is permitted Read More +

Bankruptcy Attorney Fees

Bill Putnee from Lakeland, Florida asks, what are the attorney fees or costs of hiring a bankruptcy attorney.  This is a common question asked by the persons contacting our office. Generally, most honest bankruptcy attorneys do not prefer to quote a definite attorney fee for bankruptcy representation without first meeting the prospective client.  The amount of work and effort that each bankruptcy filing requires can vary depending upon the particular facts or circumstances of each case. Numerous factors determine whether an individual qualifies for either Read More +

How Much Does It Cost to File Bankruptcy?

PORT RICHEY, FLORIDA CLIENT ASKS BANKRUPTCY ATTORNEY Hillary C from Port Richey, Florida asks the Bankruptcy Attorney, How much does it cost to file Bankruptcy?  Thank you for your question.  Here is a Video we created in response to this query. At the writing of this Article, November 8, 2016, the filing fee charged by the US Bankruptcy Court, for a Chapter 7 Bankruptcy is $335 and for a Chapter 13 Bankruptcy the filing fee is $310.  In addition, most Debtors are also required to Read More +

Can I Sell Home If I File Bankruptcy?

BANKRUPTCY  ATTORNEY QUESTION FROM CLEARWATER, FLORIDA If I file Bankruptcy, can I still sell my Home, asks D McDonald of Clearwater, Florida.  Generally, if the home or real estate in question is your Homestead, you may sell the subject property, and retain the proceeds or profits of that sale, provided you use such proceeds towards the purchase of a new Homestead. There are limitations on this general principle.  Please contact our office regarding your particular circumstance.

What is A Lis Pendens?

BANKRUPTCY ATTORNEY QUESTION FROM SPRING HILL, FLORIDA We have a Bankruptcy Lawyer question from Spring Hill, Florida.  R McDonald asks, what is a Lis Pendens? A Lis Pendens is a Notice that warns persons, such as prospective Purchasers, renters or others having an Interest in the Property under suit that the Title to the Property is in litigation and may be bound by an Adverse Judgment. When a Bank or another Lender decides to commence Foreclosure Proceedings in order to take possession of a Property, Read More +

Advice to Law Students Who Want to Be A Bankruptcy Attorney

ST PETERSBURG, FLORIDA LAW STUDENT MIKE PARSONS QUESTION FOR BANKRUPTCY LAWYER I am a Law Student who wishes to study Bankruptcy Law and practice as a Bankruptcy Attorney.  Do you have any advice as to how I should proceed?  Thank you, Mike Parsons of St Petersburg, Florida for your question. While in my second year of Law School, I learned a little about Bankruptcy Law from one of my Professors.  I immediately thought that Bankruptcy Law was the area of Law I wished to practice Read More +

Celebrities Who Filed Bankruptcy

BANKRUPTCY LAWYER QUESTION SPRING HILL, FLORIDA Spring Hill, Florida Resident Johhny B asks the Bankruptcy Lawyer, what famous Celebrities or Public Figures have filed Bankruptcy? A number of well known Celebrities and Public Figures have filed Bankruptcy.  This Video gives an extensive list of such Persons who have filed Bankruptcy. Among the surprises on the list, for some, may be that Abraham Lincoln and Henry Ford filed Bankruptcy.  More recently, Fifty Cent, the Rapper, has also filed Bankruptcy.  Fifty Cent filed Chapter 11 Bankruptcy, along Read More +

What is Chapter 7 Bankruptcy

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 +

Bankruptcy Affect on Employment

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 +