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[Strategies To Manage Financial Stress](https://www.jayweller.com/strategies-to-manage-financial-stress/) - [A Guide To Filing Bankruptcy In Florida](https://www.jayweller.com/a-guide-to-filing-bankruptcy-in-florida/) - [How To Manage Your Mental Health When Filing Bankruptcy](https://www.jayweller.com/how-to-manage-your-mental-health-when-filing-bankruptcy/) - [Bouncing Back: How Pickleball Alleviates Stress Amid Financial Turmoil](https://www.jayweller.com/bouncing-back-how-pickleball-alleviates-stress-amid-financial-turmoil/) - [Will My Employer Find Out If I File For Bankruptcy?](https://www.jayweller.com/will-my-employer-find-out-if-i-file-for-bankruptcy/) - [Step-by-step How To File For Bankruptcy](https://www.jayweller.com/step-by-step-how-to-file-for-bankruptcy/) - [Common Myths Recurring Bankruptcy And Your Credit](https://www.jayweller.com/common-myths-recurring-bankruptcy-and-your-credit/) - [Popular Tax Breaks Not Being Extended](https://www.jayweller.com/popular-tax-breaks-not-being-extended/) - [TAMPA BANKRUPTCY COURT DECISION ON DISCHARGE OF CONSTRUCTION CONTRACTOR DEBT TO CUSTOMER](https://www.jayweller.com/tampa-bankruptcy-court-decision-on-discharge-of-construction-contractor-debt-to-customer/) - [TAMPA BANKRUPTCY COURT DECISION RELATING TO TAX REFUNDS](https://www.jayweller.com/tampa-bankruptcy-court-decision-relating-to-tax-refunds/) - [TAMPA BANKRUPTCY COURT IMPORTANT DECISION REGARDING DISCHARGE OF INCOME TAX DEBT](https://www.jayweller.com/tampa-bankruptcy-court-important-decision-regarding-discharge-of-income-tax-debt/) - [Introducing Your Chapter 13 Bankruptcy Trustee’s Role](https://www.jayweller.com/introducing-your-chapter-13-bankruptcy-trustees-role/) - [What it Means to File Bankruptcy on a Car Loan](https://www.jayweller.com/what-it-means-to-file-bankruptcy-on-a-car-loan/) - [5 Tips When Preparing To File for Bankruptcy](https://www.jayweller.com/5-tips-when-preparing-to-file-for-bankruptcy/) - [The Pros And Cons Of Filing For Bankruptcy](https://www.jayweller.com/the-pros-and-cons-of-filing-for-bankruptcy/) - [Options Besides Bankruptcy](https://www.jayweller.com/options-besides-bankruptcy/) - [Buying A Car After Chapter 7 Bankruptcy](https://www.jayweller.com/buying-a-car-after-chapter-7-bankruptcy/) - [FORECLOSURES 2022](https://www.jayweller.com/foreclosures-2022/) - [DOES DISMISSAL OF A BANKRUPTCY DISMISS ANY ADVERSARY PROCEEDINGS?](https://www.jayweller.com/does-dismissal-of-a-bankruptcy-dismiss-any-adversary-proceedings/) - [Why You Should Pay Down Debt Prior To A Recession](https://www.jayweller.com/why-you-should-pay-down-debt-prior-to-a-recession/) - [Bankruptcy’s Effect On Employment](https://www.jayweller.com/bankruptcys-effect-on-employment/) - [How Opening A New Credit Card Affects Your Credit Card Debt](https://www.jayweller.com/how-opening-a-new-credit-card-affects-your-credit-card-debt/) - [Things To Know About Bankruptcy And Divorce](https://www.jayweller.com/things-to-know-about-bankruptcy-and-divorce/) - [A Quick Guide To Bankruptcy](https://www.jayweller.com/a-quick-guide-to-bankruptcy/) - [How Bankruptcy Can Affect Your Spouse](https://www.jayweller.com/how-bankruptcy-can-affect-your-spouse/) - [TREATMENT OF CHILD SUPPORT ARREARS OWED TO BANKRUPTCY DEBTOR](https://www.jayweller.com/treatment-of-child-support-arrears-owed-to-bankruptcy-debtor/) - [Chapter 13 Bankruptcy Treatment Of Automobile Accidents](https://www.jayweller.com/chapter-13-bankruptcy-treatment-of-automobile-accidents/) - [In Which Courthouse Should I File Bankruptcy?](https://www.jayweller.com/in-which-courthouse-should-i-file-bankruptcy/) - [What You Need To Know About The Foreclosure Process](https://www.jayweller.com/what-you-need-to-know-about-the-foreclosure-process/) - [Relationship With Credit Card Companies After Bankruptcy](https://www.jayweller.com/relationship-with-credit-card-companies-after-bankruptcy/) - [Are You Responsible For A Family Member’s Credit Card Debt?](https://www.jayweller.com/are-you-responsible-for-a-family-members-credit-card-debt/) - [Reasons Why People File For Bankruptcy](https://www.jayweller.com/reasons-why-people-file-for-bankruptcy/) - [EFFECT OF CONVERSION OF CHAPTER 13 BANKRUPTCY TO CHAPTER 7 BANKRUPTCY](https://www.jayweller.com/effect-of-conversion-of-chapter-13-bankruptcy-to-chapter-7-bankruptcy/) - [Can I File For Bankruptcy If I Lose My Job?](https://www.jayweller.com/can-i-file-for-bankruptcy-if-i-lose-my-job/) - [Will Everyone Find Out You Filed For Bankruptcy?](https://www.jayweller.com/will-everyone-find-out-you-filed-for-bankruptcy/) - [Do Not Allow Debt Collectors And Bankruptcy Ruin Your Mental Health](https://www.jayweller.com/do-not-allow-debt-collectors-and-bankruptcy-ruin-your-mental-health/) - [Alternatives To Paying The Collection Agencies](https://www.jayweller.com/alternatives-to-paying-the-collection-agencies/) - [The Effects Of Bankruptcy On Your Credit Report](https://www.jayweller.com/the-effects-of-bankruptcy-on-your-credit-report/) - [What You Should Know About Bankruptcy And Your Credit](https://www.jayweller.com/what-you-should-know-about-bankruptcy-and-your-credit/) - [TAMPA BANKRUPTCY COURT LEADS ALL DIVISIONS IN MIDDLE DISTRICT OF FLORIDA IN FILINGS](https://www.jayweller.com/tampa-bankruptcy-court-leads-all-divisions-in-middle-district-of-florida-in-filings/) - [TREATMENT OF AUTO ACCIDENT THAT OCCURRED AFTER THE FILING OF BANKRUPTCY](https://www.jayweller.com/treatment-of-auto-accident-that-occurred-after-the-filing-of-bankruptcy/) - [Comparing Credit Cards And Debit Cards](https://www.jayweller.com/comparing-credit-cards-and-debit-cards/) - [ISSUE OF ACREAGE LIMITATIONS IN THE CLAIM OF THE FLORIDA HOMESTEAD EXEMPTIONS IN FEDERAL BANKRUPTCY PROCEEDINGS](https://www.jayweller.com/issue-of-acreage-limitations-in-the-claim-of-the-florida-homestead-exemptions/) - [Can Bankruptcy Stop An Eviction In Florida?](https://www.jayweller.com/can-bankruptcy-stop-an-eviction-in-florida/) - [LEGAL VERSUS EQUITABLE INTERESTS IN BANKRUPTCY](https://www.jayweller.com/legal-versus-equitable-interests-in-bankruptcy/) - [Sale Of Homestead And Other Assets In Bankruptcy](https://www.jayweller.com/sale-of-homestead-and-other-assets-in-bankruptcy/) - [Factors That Impact Your Bankruptcy Case](https://www.jayweller.com/factors-that-impact-your-bankruptcy-case/) - [RECENT EXECUTIVE ORDERS REGARDING STUDENT LOANS](https://www.jayweller.com/recent-executive-orders-regarding-student-loans/) - 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[Under Florida Statute, Section 185.25..](https://www.jayweller.com/under-florida-statute-section-185-25/) - [Under Florida Statute, Section 175.241..](https://www.jayweller.com/under-florida-statute-section-175-241/) - [Florida Statute, Section 122.15..](https://www.jayweller.com/florida-statute-section-122-15/) - [Under Florida Statute, Section 121.131..](https://www.jayweller.com/under-florida-statute-section-121-131/) - [IRAs and Roth IRAs](https://www.jayweller.com/iras-and-roth-iras/) - [Federal Statute, 11 USC Section 522..](https://www.jayweller.com/federal-statute-11-usc-section-522/) - [Garnishment and Personal Property](https://www.jayweller.com/garnishment-and-personal-property/) - [Garnishment Protection..](https://www.jayweller.com/garnishment-protection/) - [Section 222.22(2) of the Florida Statutes..](https://www.jayweller.com/section-222-222-of-the-florida-statutes/) - [Article I, Section 4](https://www.jayweller.com/article-i-section-4/) - [Florida has an unlimited Homestead Exemption..](https://www.jayweller.com/florida-has-an-unlimited-homestead-exemption/) - 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[Earnings of the Head Of Family..](https://www.jayweller.com/earnings-of-the-head-of-family/) - [Earnings of the Head Of Family are protected..](https://www.jayweller.com/earnings-of-the-head-of-family-are-protected/) - [If a Creditor Garnishes your Earnings..](https://www.jayweller.com/if-a-creditor-garnishes-your-earnings/) - [Section 222.11 of the Florida Statutes provides that ..](https://www.jayweller.com/section-222-11-of-the-florida-statutes-provides-that/) - [The Earnings of a Head Of Family or Head of Household..](https://www.jayweller.com/the-earnings-of-a-head-of-family-or-head-of-household/) - [Florida Statute 222.11 provides for the Exemption of Wages..](https://www.jayweller.com/florida-statute-222-11-provides-for-the-exemption-of-wages/) - [Section 221.11 of the Florida Statutes provides that Creditors ..](https://www.jayweller.com/section-221-11-of-the-florida-statutes-provides-that-creditors/) - [Section 222.11 of the Florida Statutes Exempts the Earnings of..](https://www.jayweller.com/section-222-11-of-the-florida-statutes-exempts-the-earnings-of/) - [Section 221.11 of the Florida Statutes Exempts the Earnings of..](https://www.jayweller.com/section-221-11-of-the-florida-statutes-exempts-the-earnings-of/) - [Florida has a Head Of Family or Head Of Household Exemption..](https://www.jayweller.com/florida-has-a-head-of-family-or-head-of-household-exemption/) - [The Exemption for the Head Of Family is defined..](https://www.jayweller.com/the-exemption-for-the-head-of-family-is-defined/) - [The US Bankruptcy Code And Student Loans](https://www.jayweller.com/the-us-bankruptcy-code-and-student-loans/) - [Discharge of Student Loans In Bankruptcy](https://www.jayweller.com/discharge-of-student-loans-in-bankruptcy/) - [Dischargeability Of Student Loans](https://www.jayweller.com/interpreting-bankruptcy-code-section-523a8-as-dischargeability-of-student-of-student-loans/) - [What Section Of The Bankruptcy Code Applies To Student Loans?](https://www.jayweller.com/what-section-of-the-bankruptcy-code-applies-to-student-loans/) - [Treatment Of Automobiles In Bankruptcy](https://www.jayweller.com/treatment-of-automobiles-in-bankruptcy/) - [Discharge Of Second Mortgages In Bankruptcy](https://www.jayweller.com/an-explanation-of-the-mechanisms-of-lien-stripping/) - [In Re Lisowski: Florida Bankruptcy Court Decision Grants Separate Exemption For Mobile Homes](https://www.jayweller.com/in-re-lisowski-florida-bankruptcy-court-decision-grants-separate-exemption-for-mobile-homes/) - [The Coming Crisis - Part VII](https://www.jayweller.com/the-coming-crisis-part-vii/) - [The Coming Crisis - Part VI](https://www.jayweller.com/the-coming-crisis-part-vi/) - [The Coming Crisis - Part V](https://www.jayweller.com/the-coming-crisis-part-v/) - [The Coming Crisis - Part IV](https://www.jayweller.com/the-coming-crisis-part-iv/) - [The Coming Crisis - Part III](https://www.jayweller.com/the-coming-crisis-part-iii/) - [The Coming Crisis - Part II](https://www.jayweller.com/the-coming-crisis-part-ii/) - [The Coming Crisis - Part I](https://www.jayweller.com/the-coming-crisis-part-i/) - [The Rise Of The “Foreclosure Rescue” Companies](https://www.jayweller.com/the-rise-of-the-foreclosure-rescue-companies/) - [Biggest Bankruptcies In History..](https://www.jayweller.com/biggest-bankruptcies-in-history/) - [The History Of Debtors Prisons And Why It Is Important To You (3 of 3)](https://www.jayweller.com/the-history-of-debtors-prisons-and-why-it-is-important-to-you-3-of-3/) - [The History Of Debtors Prisons And Why It Is Important To You (2 of 3)](https://www.jayweller.com/the-history-of-debtors-prisons-and-why-it-is-important-to-you-2-of-3/) - [The History Of Debtors’ Prisons And Why It Is Important To You (Part 1 of 3)](https://www.jayweller.com/the-history-of-debtors-prisons-and-why-it-is-important-to-you-part-1-of-3/) - [Origins Of Bankruptcy Law in the United States](https://www.jayweller.com/origins-of-bankruptcy-law-in-the-united-states/) - [Bankruptcy in England](https://www.jayweller.com/bankruptcy-in-england/) - [Bankruptcy in the Ancient World](https://www.jayweller.com/bankruptcy-in-the-ancient-world/) - [Chapter 13 Case Permits Cramdown Of Mortgages](https://www.jayweller.com/chapter-13-case-permits-cramdown-of-mortgages/) - [What Are The Trustee Duties In Bankruptcy? (Part 3)](https://www.jayweller.com/trustee-duties-bankruptcy-part-3/) - [Trustee Duties In Bankruptcy (Part 2)](https://www.jayweller.com/trustee-duties-bankruptcy-part-2/) - [What Are The Trustees Duties In Bankruptcy?](https://www.jayweller.com/trustees-duties-bankruptcy/) - [When Can A Student Loan Borrower Contest A Tax Offset?](https://www.jayweller.com/can-student-loan-borrower-contest-tax-offset/) - [Seizure Of Tax Refund To Collect Federal Student Loans, Part II](https://www.jayweller.com/seizure-tax-refunds-collect-federal-student-loans-part-ii/) - [Seizure Of Tax Refunds To Collect Student Loans](https://www.jayweller.com/seizure-tax-refunds-collect-federal-student-loans/) - [Cramdown Of Mortgages On Principal Residences In Bankruptcy](https://www.jayweller.com/cramdown-mortgages-principal-residences-bankruptcy/) - [Current Landscape Of Loan Modifications And Foreclosures](https://www.jayweller.com/current-landscape-loan-modifications-foreclosures/) - [Dim Prospects For Students With Student Loans](https://www.jayweller.com/student-loans-burdensome-debt/) - [The Clampdown Begins On Payday Loans](https://www.jayweller.com/clampdown-on-payday-loans/) - [New Technology To Reduce The Chances Of Credit Card Fraud](https://www.jayweller.com/credit-card-fraud/) - [The Banks' Stealth Campaign To Increase Overdraft Fees](https://www.jayweller.com/overdraft-fees/) - [Other Services](https://www.jayweller.com/other-services/) - [Family Law](https://www.jayweller.com/family-law/) - [Personal Injury](https://www.jayweller.com/personal-injury/) - [Social Security](https://www.jayweller.com/social-security/) - [Estate Planning](https://www.jayweller.com/estate-planning/) - [Corporate Law](https://www.jayweller.com/corporate-law/) - [Immigration](https://www.jayweller.com/immigration/) --- # # Detailed Content ## Pages - Published: 2024-07-19 - Modified: 2024-12-19 - URL: https://www.jayweller.com/locations/driving-directions-lakeland-law-office/ The Weller Legal Group 2614 Lakeland Hills Blvd, Ste 2Lakeland, FL, 33805E-mail: jweller@wellerlegalgroup. com Phone 863-802-5505 Head East on I-4 (From Tampa/Plant City)• On right – Armwood High (1-A1) Continue East on I4. . • On right -Trailers in ground Continue East on I4. . • On right – RV Park Continue East on I4. . • On left -Dinosaur World Continue East on I4. . Continue East on I4. . • On right – Palm Harbor Homes Continue East on I4. . – Polk Parkway xit ahead, view sign for Lakeland/Winterhaven Merge to right and take Polk Parkway Exit Continue on Polk Parkway. . • On right – Airport Road, Exit 3 Continue on Polk Parkway. . Continue on Polk Parkway. . • On right – Harden Road Continue on Polk Parkway. . • On right – Mulberry, Florida Southern College, Exit 7 Exit 7, S. Florida Ave. Merge to right to exit. Continue on Exit 7, South Florida Ave. , Toll Booth Ahead ($0. 75) Continue on South Florida Avenue. . • On right – Popeyes Continue on South Florida Avenue. . • On right – Salvation Army After Wendys, By The AMF Bowling Alley is The Jay Weller Legal Group Lakeland Office. . • On right -Wendys Turn right into our complex. . The Weller Legal Group Lakeland Office AMF Bowling Alley (If you pass the bowling Alley you have gone too far) Thank you for visiting The Weller Group, please come in and have a seat, we will be with you shortly. . --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/palm-harbor-bankruptcy-attorney/ PALM HARBOR BANKRUPTCY ATTORNEY Where can you find a good Palm Harbor Bankruptcy Attorney? Need a good Palm Harbor Bankruptcy Attorney? Need an experienced and knowledgeable Palm Harbor Bankruptcy Attorney? Is there a highly rated Largo Bankruptcy Attorney? If you live in Palm Harbor, Florida or in the Tampa Bay area, Jay Weller is known by many as the preferred Attorney for representation in Bankruptcy Matters. Jay Weller and Weller Legal Group have represented over 40,000 Debtors in Bankruptcy and many thousands more through our many Non Bankruptcy Programs or Alternatives. You may not need to file Bankruptcy. Our Non Bankruptcy Alternatives to help those with Debt issues, include Foreclosure Defense, Loan Modifications, Credit Counseling, Credit Repair, Creditor Harassment Litigation, Debt Settlements, and Loan Workouts. Weller Legal has almost every Program conceivable to help you with Debt Issues. With our many Bankruptcy and Non Bankruptcy Programs, if you are in Debt, we likely have a Solution. The Bankruptcy Options made by most of our filing Clients are either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. Chapter 7 Bankruptcy enables the Bankruptcy Attorney to seek the Discharge of his Client’s Unsecured Debts, while a Chapter 13 Bankruptcy permits the Bankruptcy Attorney to consolidate most or all of a Client’s Debts into one, usually reduced, monthly payment. Some of our Clients have what is referred to sometimes as a SR-22. If one is in a traffic accident in which he does not have car insurance, the Driver may be subject to a SR-22 in which he is required to pay the full insurance claim in order to retain his driving privileges. Many times, such claims run into the tens of thousands of dollars. Provided, the Driver was not under the influence of drugs or alcohol, the Driver may Discharge this Debt through a Bankruptcy, and retain his driving privileges. For our Palm Harbor, Florida Clients, our Clearwater Office is located nearby at 25400 US 19 North, Suite 150 in Clearwater, Florida. Our Law Office is on the West Side of US 19 North, between Sunset Point Road and the Countryside Mall. We are directly across from Dimmit Chevrolet. Will Brumby and Jay Weller are considered by many to be the highest rated Bankruptcy Attorneys in the State of Florida. Our Bankruptcy Attorneys are here to help you. Please Call our Office Today, to meet and speak directly with our Bankruptcy Attorneys. The first Consultation is Free. Our direct number in Clearwater is 727-539-7701, or if you live outside the Palm Harbor and Clearwater area, you may contact us Toll Free at 1-800-407-3328 (DEBT). Thank you for your Consideration, and please investigate our Website further for more information about Bankruptcy and our many Non Bankruptcy Alternatives to help with whatever Debt issue may be troubling you. --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/pinellas-county-bankruptcy-attorney/ PINELLAS COUNTY BANKRUPTCY ATTORNEY Looking for a Pinellas County Bankruptcy Attorney? Need a Pinellas County Bankruptcy Attorney? Who is a good Pinellas County Bankruptcy Attorney? Who is the best Pinellas County Bankruptcy Attorney? Jay Weller and the Bankruptcy Attorneys, Counselors, and Paralegals at Weller Legal Group have been serving the Pinellas County Community in Bankruptcy and Debt Related Matters, since 1993. Weller Legal offers representation in every Chapter of Bankruptcy, including Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, and Chapter 13 Bankruptcy. Our Attorneys and Counselors are also prepared and experienced in our many Non Bankruptcy Alternatives or Non Bankruptcy Programs. These Programs include Loan Modifications, Credit Repair, Foreclosure Defense, Credit Counseling, Debt Settlements and Creditor Harassment Litigation. At Weller Legal Group, we offer almost every conceivable Program available to help the Client experiencing difficulty with Debt. If you are in Debt, We have a Solution. If you live in Pinellas County, Weller Legal Group has a Law Office conveniently located at 25400 US 19 North, Suite 150 in Clearwater, Florida. Our Law Office is located approximately one quarter mile North of Sunset Point Road and one quarter mile South of the Countryside Mall. We are directly across the Street from Dimmit Chevrolet. Since its creation in 1993, Weller Legal Group and Jay Weller have filed many more than 40,000 Bankruptcies and have represented many thousands more through our many Non Bankruptcy Programs. If you are in Debt, we can help. Please Call the Bankruptcy Attorney today at 727-539-7701 or in the greater Tampa Bay area, you may also Call Toll Free at 1-800-407-3328 (DEBT). The First Consultation is Free. We are here to help you. --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/safety-harbor-bankruptcy-attorney/ SAFETY HARBOR FLORIDA BANKRUPTCY ATTORNEY Safety Harbor bankruptcy attorney Jay Weller has been serving and representing the many good people of Safety Harbor, Florida who have been confronted with debt issues, since he began practice in 1993. Mr. Weller is considered by many to be the best bankruptcy attorney serving the Safety Harbor community. Mr. Weller only represents debtors, and never creditors, in primarily Chapter 7 bankruptcy and Chapter 13 bankruptcy proceedings. Mr. Weller has represented many hundreds of clients from Safety Harbor in the quarter century that he has practiced bankruptcy law. Mr. Weller is the President and founder of Weller Legal Group PA, which is an organization dedicated to the representation of debtors in the many ways they are confronted by creditors and debt. The bankruptcy attorneys and paralegals at Weller Legal are experienced and knowledgeable in not only most issues related to Chapter 7 bankruptcy and Chapter 13 bankruptcy, but are also adept at the many programs offered by our law firm that are alternatives to bankruptcy. Among the programs offered that are other than bankruptcy, are foreclosure defense, debt settlements, credit repair, credit counseling, mortgage modification, loan and tax workouts, monthly debt management, and wealth enhancement. Weller Legal Group is the only law firm in the greater Tampa region that offers every conceivable program to assist those confronted by debt. If you are in debt, please contact us today. For our clients in Safety Harbor and the greater Pinellas County region, our direct number to our main office is 727-539-7701. At Weller Legal Group, our motto is, “If you are in debt, we can help! ” Image credit: Wikipedia --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/safety-harbor-bankruptcy-lawyer/ SAFETY HARBOR FLORIDA BANKRUPTCY LAWYER Safety Harbor bankruptcy lawyer Jay M. Weller is dedicated and knowledgeable in most matters relating to Chapter 7 bankruptcy and Chapter 13 bankruptcy. Since 1993, Mr. Weller has almost exclusively practiced bankruptcy law and represents only debtors and never creditors. The majority of the practice involves the representation of debtors in Chapter 13 bankruptcy and Chapter 7 bankruptcy. Weller Legal Groups bankruptcy lawyers and paralegals are trained and knowledgeable in most facets of bankruptcy law, but have additional training in the many other programs offered by the law firm that are alternatives to bankruptcy. These programs include credit counseling, lawsuit defense, foreclosure defense, debt settlements, credit repair, mortgage modification, loan modifications and workouts, negotiations with taxing entities such as the Internal Revenue Service, monthly budgeting, and wealth enhancement. Our law firm is the only law firm providing service to Safety Harbor and the greater Pinellas County region, that provides a full array of programs that help persons with every conceivable issue that can arise, as such issue relates to debt. The motto of our law firm is, if you are in debt, we can help! If you are considering whether to file bankruptcy, or do not know what to do, then contact our law firm today at 727-539-7701 or toll free at 1-800-407-3328 (DEBT). Image credit: Wikipedia --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/tarpon-springs-bankruptcy-attorney/ TARPON SPRINGS FLORIDA BANKRUPTCY ATTORNEY | LAWYER Old City Hall, in Tarpon Springs, Florida Tarpon Springs Bankruptcy Attorney Jay M Weller is available to provide consultation and representation in matters of Chapter 7 and Chapter 13 bankruptcy. Jay Weller has practiced almost exclusively bankruptcy law since his admission to the Florida Bar, in 1993. Mr. Weller and the bankruptcy attorneys and paralegals at Weller Legal Group represent and serve only debtors and not creditors, in bankruptcy proceedings. Mr. Weller has represented many members of the Tarpon Springs community in bankruptcy matters, primarily Chapter 7 and Chapter 13 bankruptcy. From 1993 to today, Mr. Weller and Weller Legal Group have been actively involved in Tarpon Springs. Mr. Weller is considered by many in Tarpon Springs to be the premier attorney representing debtors in bankruptcy proceedings, especially in matters relating to Chapter 13 bankruptcy and Chapter 7 bankruptcy. If reside in Tarpon Springs or its vicinity, please contact Mr. Weller today at 727-539-7701 or Toll Free at 1-800-407-3328 (DEBT). Mr. Weller, if he is available, will speak with you personally, when you contact our office. If Mr. Weller is not available, one of the bankruptcy attorneys will speak with you regarding your particular issue relating to debt or bankruptcy. Our office is conveniently located to all residents of Tarpon Springs. Contact Mr. Weller today for a free and friendly consultation. We have many solutions to every conceivable problem or issue relating to debt. At Weller Legal Group, “If you are in debt, we can help. ” Chapter 13 bankruptcy is often called a debt consolidation or debt reorganization. In a Chapter 13 bankruptcy, the debtor seeks to consolidate most or all of his or her debt into one monthly payment, generally dramatically reduced from the monthly obligations incurred before the filing of the Chapter 13. If you live in Tarpon Springs, Florida or its wider region, and are seeking a bankruptcy lawyer to help and assist you in your difficulties relating to debt, then please call or contact Mr. Weller today. Mr. Weller will usually speak with you directly. He will listen carefully, and fully analyze your case. He will offer solutions. At Weller Legal Group our motto is, “If you are in debt, we can help. ” For our clients in Tarpon Springs, please contact us directly at 727-539-7701, or through our website. The bankruptcy lawyers and paralegals at our law office are here to help you. Image credit: Wikipedia --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/thank-you/ Thank you for contacting Jay Weller Legal Group. A representative from our office with be contacting you shortly about your inquiry. // // --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/thank-you-consult/ Thank You! Thank you for scheduling a consultation with Jay Weller Legal Group. A representative from our office will be contacting you shortly to schedule the consultation with you. Click here for more information about Tampa debt lawyer, Jay Weller, and the team at Jay Weller Legal Group. We also have an extensive video gallery with additional information about bankruptcy law and questions. Learn more about your options and how Jay Weller can help you. --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/thanks/ Thank you for contacting Jay Weller Legal Group. A representative from our office with be contacting you shortly about your inquiry. Take a look at our general bankruptcy video FAQ section for more information about your legal needs. --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/automatic-stay/ What is Automatic Stay? Upon the filing of a Bankruptcy, a stay arises which usually prohibits all debt collection efforts against the debtor or property of his Bankruptcy Estate. The automatic stay does not stop the collection of post petition debts against the debtor. The Bankruptcy Court does not usually have to sign an Order to enact the automatic stay. The mere filing of the Bankruptcy petition with the clerk is enough to create the automatic stay. There are some exceptions to this rule, in particular, Debtors who file successive Chapter 13 Bankruptcies. Section 362 of the Bankruptcy Code governs the automatic stay. Bankruptcy Code Section 362(a) states that the automatic stay stops most legal actions, brought or could have been brought, before the filing of the Bankruptcy petition. The automatic stay also stops the enforcement of a Judgment against the debtor, any act to obtain property of the Debtor, any act to perfect or enforce a lien, any right to setoff against the debtor, and any effort to collect a tax liability against the debtor. Bankruptcy Code Section 362(b) contains the exceptions to the automatic stay. The automatic stay does not stop a criminal action against a debtor, nor does it end an action for the establishment of paternity, for the establishment of domestic support obligations, or divorce or domestic violence proceedings. There are many other exceptions to the automatic stay, but these are the more common exceptions contained in the Bankruptcy Code. To learn more about automatic stay in bankruptcy, contact the bankruptcy experts at Jay Weller for a consultation today. --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/student-loans/ Student Loans may sometimes be Discharged in Bankruptcy. Generally, in order for a Debtor to Discharge a Student Loan, he or she must establish that the Student Loan creates an undue hardship. Most bankruptcy courts will adopt a three-part test in determining whether a Student Loan creates an undue hardship to the Debtor. The courts will generally determine the likelihood that the Debtor can repay the Student Loan, what efforts the Debtor took to repay the Student Loan, and the present financial circumstances of the Debtor. Other factors that may have an influence on whether the Student Loan may be Discharged in Bankruptcy, include whether the Debtor received an educational benefit from the provision of the Student Loan, and the accreditation or lack of accreditation of the institution at which the Debtor was matriculated. A Debtor who has been determined to be disabled is more likely to receive a Discharge of such loan in Bankruptcy. Traditionally, a Debtor who has been determined disabled by an Administrative Court servicing Social Security Disability claims, can seek a Discharge through the Social Security Administration. This is sometimes referred to as Social Security Discharge. However, whether a Student Loan may be Discharged in Bankruptcy is determined on a case by case and factual basis. In order to seek a Discharge of a Student Loan in Bankruptcy, the Debtor must generally bring an Adversary Proceeding whereby the Debtor actively seeks the Discharge of such Debt. If you are interested in whether a Student Loan may be Discharged in Bankruptcy, or other means to handle Student Loan Debt, please contact our office. We have numerous solutions that may be beneficial in dealing with not only Student Loan Debt, but other Debt obligations. --- - Published: 2024-07-19 - Modified: 2024-07-19 - URL: https://www.jayweller.com/largo-fl-bankruptcy-lawyer/ LARGO BANKRUPTCY LAWYER Largo bankruptcy lawyer Jay M. Weller, Esq. , is here to help you. Mr. Weller has been practicing bankruptcy law since 1993. Mr. Weller only represents clients in primarily Chapter 13 bankruptcy and Chapter 7 bankruptcy matters. Mr. Weller has represented many hundreds of clients from Largo, Florida, and tens of thousands of clients in total, in bankruptcy proceedings. Mr. Weller is considered by many to be the best bankruptcy attorney, not only in Largo, Florida but throughout the entire State of Florida. There are few, if any, bankruptcy attorneys in the State of Florida with the qualifications and experience exhibited by Mr. Weller. If you live in Largo, Florida, and are considering whether to file bankruptcy or simply do not know what to do, then Mr. Weller and the bankruptcy lawyers and paralegals at Weller Legal Group PA are here to provide representation and assistance. If you live or work in the vicinity of Largo, Florida, then contact us today at 727-539-7701. The bankruptcy lawyer will speak and meet with you personally. The bankruptcy lawyer will patiently analyze your entire situation as it relates to bankruptcy, and offer valid solutions to such problems. Image credit: Wikipedia --- - Published: 2024-07-18 - Modified: 2024-07-18 - URL: https://www.jayweller.com/hernando-county-lawsuit-all-2022-04/ A Lawsuit in Hernando County commences with the filing of a Complaint in the Hernando County Courthouse or the Circuit Court with jurisdiction over Hernando County. A Complaint is a document where the Plaintiff, or the party bringing the Lawsuit, states the basis for the Lawsuit. After the Complaint is filed, the Clerk of Court issues a Summons. The Summons and the Complaint are then delivered to either a County Sheriff or Process Server, who will deliver or Serve the Summons and Complaint to the Defendant, or the person being sued in the Lawsuit. If the Process Server is unable to Serve the Summons and Complaint after a reasonable effort, Service may be commenced “constructively”, meaning no actual Service of the legal documents is required. Sometimes, Service may be invalid if the Process Server delivers the documents in a manner that violates the prescriptions of Florida Law. One example would be if the documents are Served upon a minor child who is present in the home or are Served upon a third party who withheld his or her Consent to accept such Service. After the Complaint and Summons are Served upon the Defendant, the Defendant generally has twenty (20) days to Answer the Complaint. An Answer is a response to the Complaint, in which the Defendant may offer any Defenses he or she may have to the Lawsuit or Complaint. Absent any Defenses, the Defendant may question other matters contained in the Lawsuit, such as the amount of the claim or monies sought by the Plaintiff. It is generally recommended that the Defendant file an Answer to the Complaint. If no Answer is filed, the Plaintiff may very quickly seek a Default Judgment, and proceed in its efforts to collect on the matter that is the subject of the Lawsuit. Additionally, filing the Answer places the Defendant in better position if he or she is seeking to Settle the Lawsuit. If the Lawsuit is of a variety in which the Defendant has Defenses that are meritorious and sustainable in a Court of Law, and the Defendant is committed to the vigorous Defense of the Lawsuit, then the Defendant and Plaintiff may commence a process called Discovery. Discovery entails both the Defendant and the Plaintiff requesting certain documents and information from each other, in the construction of each party’s respective Legal Case.  Discovery may also involve Interrogatories and live testimony of relevant parties to the Lawsuit. Following the process of Discovery, and absent a Settlement between the parties, a Trial may be held in which the Trial Judge, sometimes accompanied by a Jury, will resolve the controversy between the Plaintiff and Defendant. The process as described above, generally will consume considerable time, not only of the Plaintiff, but also the Defendant, and any Legal Counsel retained or hired by the Defendant.  Some cases are easily winnable, such as when a Plaintiff files a Lawsuit significantly past the time allowed by the Statute of Limitations under Florida Law. In such cases, the Defendant may not only seek the Dismissal of the Lawsuit but may also have claims against... --- - Published: 2024-07-18 - Modified: 2024-07-18 - URL: https://www.jayweller.com/largo-bankruptcy-attorney/ Seeking a Largo Bankruptcy Attorney? Need a Largo Bankruptcy Attorney? Is there a reputable and experienced Largo Bankruptcy Attorney? Is there a good Largo Bankruptcy Attorney? Since 1993, Jay Weller has been helping many of the great people of Largo, Florida and the Tampa Bay area in Bankruptcy Law Proceedings and in other Debt Related Matters. In over two decades, Weller Legal Group has filed over 40,000 Bankruptcies and has represented many thousands more through our many Non Bankruptcy Programs. Not everyone will need to file Bankruptcy. The Bankruptcy Attorneys, Counselors and Paralegals at Weller Legal Group are experienced and knowledgeable not only in Bankruptcy Matters but in our numerous Non Bankruptcy Programs or Bankruptcy Alternatives. These Programs include Credit Repair, Creditor Harassment Litigation, Credit Counseling, Foreclosure Defense, Loan Modifications, and Debt Settlements. At Weller Legal, we have virtually every Program available to help you. If you are considering whether to file Bankruptcy, then the Attorneys at Weller Legal Group are knowledgeable in every facet of Bankruptcy Law. The most commonly filed Chapters of Bankruptcy, however, are Chapter 13 Bankruptcy and Chapter 7 Bankruptcy. Chapter 13 Bankruptcy is a Debt Consolidation where the Debtor may combine most or all of his Debts, into one reduced, monthly payment. Chapter 7 Bankruptcy is a Straight Liquidation where the Debtor seeks to Discharge his Unsecured Debts, and will be subject to the Liquidation of Assets that are Not Exempt under Bankruptcy Law. The Bankruptcy Attorney can explain how Bankruptcy Exemptions and the other dynamics of Bankruptcy apply to your particular and unique situation. If you live in Largo, Florida or in the larger Tampa Bay area, the Bankruptcy Attorneys at Weller Legal Group are conveniently located to you. For those in Largo, our Clearwater Office is conveniently located at 25400 US 19 North, Suite 150 in Clearwater, Florida. We are approximately one quarter mile North of Sunset Point Road and one quarter mile South of the Countryside Mall, which is now called the Westfield Plaza. Our Law Office is directly across from Dimmit Chevrolet. Please Call Today for a thorough and Free Consultation with our Bankruptcy Attorney. You will meet personally and directly with either Will Brumby or Jay Weller, who will analyze your entire case, and offer a Solution. The First Consultation is Free. Please Call our Bankruptcy Attorneys today at 727-539-7701 or if you live in the greater Tampa Bay area, you may contact us Toll Free at 1-800-407-3328 (DEBT). Thank you for your Consideration. If you are interested in other information about our Bankruptcy Programs and our Non Bankruptcy Alternatives, our Website is full of information and Videos on these topics. --- - Published: 2024-07-18 - Modified: 2024-07-18 - URL: https://www.jayweller.com/largo-fl-bankruptcy-attorney-2/ Largo bankruptcy attorney Jay M. Weller has had his primary office in Largo, Florida since the beginning of his legal career in 1993. Mr. Weller and his law firm, Weller Legal Group, only represents debtors in primarily Chapter 7 bankruptcy and Chapter 13 bankruptcy. The bankruptcy attorneys, paralegals, and legal assistants at Weller Legal Group are knowledgeable and experienced in most facets relating to bankruptcy. While the majority of our clients file either Chapter 13 bankruptcy or Chapter 7 bankruptcy, Weller Legal Group has represented and assisted thousands of clients through our programs that are alternatives to bankruptcy. Such programs include debt settlements, foreclosure defense, lawsuit defense, credit counseling, credit repair, loan and tax workouts, budgeting programs, and wealth creation. For our Largo clients, our law office is conveniently located at 25400 US 19 North, Suite 150, Clearwater, Florida. Our main office number is 727-539-7701. Our website is www. jayweller. com, and Mr. Weller can be contacted directly at jweller@wellerlegalgroup. com. The bankruptcy attorneys, and paralegals at our law firm are here to help the many good people of Largo, Florida and its vicinities. Call today for a consultation with Mr. Weller personally. The consultation is without charge. Mr. Weller will fully analyze your particular difficulties as they relate to debt, and offer a solution or solutions. There is always a solution to every issue as it relates to debt. Image credit: Wikipedia --- - Published: 2024-07-18 - Modified: 2024-07-18 - URL: https://www.jayweller.com/lawsuit-letter-pri-2022-02-01/ BB&T BANK BUILDING9501 US HIGHWAY 19, SUITE 210PORT RICHEY, FLORIDA 34668(727) 375-9378 Thank you for visiting our website. Please feel free to peruse the website as it contains relevant information regarding the myriad of approaches one may take when confronted with a lawsuit. Lawsuits in Pasco County are typically filed in either the Pasco County Courthouse or the Circuit Court with jurisdiction over Pasco County. If you have received information from our Office regarding the filing of a Lawsuit or Foreclosure against you, then the Lawsuit is probably in its initial stages. The first step in a Lawsuit filed by a Creditor is the filing of the Complaint in the appropriate Courthouse in Pasco County. After the Complaint is filed the Clerk of the Court will issue a Summons. In Pasco County the Summons and Complaint must then be served upon the Defendant, meaning the person or party being sued in the Lawsuit. Either a process server or a County Sheriff assigned to such duties, will appear usually at your residence to deliver the Complaint and the Summons. The delivery of the Complaint and the Summons signifies that the Defendant has been served. Generally, after Service has been made, the Defendant has twenty (20) days to file an Answer or response to the Lawsuit. It is generally advisable to file an Answer because if an Answer is not filed the Creditor may swiftly seek a Default Judgment in the Lawsuit. If a Lawsuit has been filed against you, there are numerous remedies you may pursue to confront the Lawsuit and the Creditor. One may seek to defend the Lawsuit. In some cases, the Lawsuit may be without merit, or the Defendant otherwise has Defenses against the Lawsuit. If the filing of the Lawsuit is after the time permitted by the Statute of Limitations, which in the State of Florida is generally five (5) years, then the Defendant may seek the Dismissal of the Lawsuit. Even if there a no available Defenses which would warrant the Dismissal of the Lawsuit, the filing of an Answer in good faith will allow the Defendant, either through the representation of an Attorney or without, to attempt to negotiate a Settlement beneficial to the Defendant. If the Defendant has significant Debt, either presented by the Lawsuit alone, or significant other Debt when combined with the Lawsuit, another option would be the filing of a Bankruptcy. There are two main categories of Bankruptcy that the Debtor or Defendant may employ. Chapter 7 Bankruptcy is generally referred to as a Straight Bankruptcy or Straight Liquidation. In a Chapter 7 Bankruptcy, the Debtor seeks to Discharge all or most of his or her Unsecured Debts, such as Credit Cards, Medical Bills, Personal Loans, and similar varieties of Debt. The Chapter 13 Bankruptcy is often named either a Debt Reorganization, Debt Consolidation or The Wage Earner’s Plan. In a Chapter 13, the Debtor may not only dramatically decrease or even eliminate the monies paid to Unsecured Creditors, but may also pay Secured Debts, such as automobile loans, in a reduced payment. As an Attorney who has... --- - Published: 2024-07-18 - Modified: 2024-07-18 - URL: https://www.jayweller.com/lawsuit-letter-clw-2022-02-01/ A Lawsuit or Foreclosure filed against you is understandably a cause for concern. However, there are a number of strategies and solutions to such issues. For almost thirty years practicing as an Attorney in Pinellas County, I have exclusively dedicated my efforts towards the representation of individuals and small business owners confronted with the efforts of Creditors, whether through Lawsuits or Foreclosures, or other means, to collect on Debts. Along with our Office in Pinellas County, Weller Legal Group PA has Offices throughout the greater Tampa region including Hillsborough, Pasco and Polk Counties. In each Office, the Attorneys, Paralegals and Counselors are also committed to the singular purpose of assisting and representing persons who are under the duress of Lawsuits, and actions of Creditors. If you have received a Letter from myself, then you are probably the Defendant in a Lawsuit or Foreclosure filed by a Creditor or Plaintiff.  The initial stage in a Lawsuit is the filing of a Complaint in the appropriate Court in Pinellas County. Lawsuits and Foreclosures are generally filed in either the Pinellas County Courthouse or the Circuit Court for Pinellas County. After the Complaint is filed the Clerk of the Court will issue a Summons. After the Summons is issued the Creditor will either employ a Process Server or a County Sheriff to deliver the Complaint and Summons. When you receive the Summons and Complaint, you generally have twenty (20) days to file an Answer or response to the Summons and Complaint. It is usually advisable to file an Answer within the prescribed time period. The Answer will prevent the issuance of a Default Judgement. A Default Judgement means that the Creditor may more quickly seeks its remedies in the Lawsuit or Foreclosure. Such remedies may include the garnishment of wages or bank accounts, or the seizure of property or the sale of one’s Homestead at a Foreclosure Sale. If you wish to discuss these issues with me personally, you may either simply call the Office at 727-539-7701 or Toll Free at 1-800-407-3328 (DEBT). You may also send me a Contact Form through our website at www. jayweller. com I will not charge you a fee to discuss these issues with you. I will provide a full analysis of your case and will generally be able to offer a beneficial solution. I have found in the almost thirty (30) years I have represented both individuals and small businesses confronted by Debt that a solution beneficial to my Clients were invariable found. We may be able to either defend you in the Lawsuit or Foreclosure Action or at a minimum, negotiate a Settlement on your behalf. Depending upon the amount sought in the Lawsuit or Foreclosure, and the presence of other Debt, a Bankruptcy might be a viable remedy. The filing of a Bankruptcy typically will stop most Lawsuits or Foreclosures, through the operation of what is referred to as the Automatic Stay.  A Chapter 7 Bankruptcy will often permit the Filer to eliminate or reduce most if not all of his or her Unsecured... --- - Published: 2024-07-18 - Modified: 2024-07-18 - URL: https://www.jayweller.com/lawsuit-letter-tpa-2022-02-01/ 4100 WEST KENNEDY BOULEVARD, SUITE 208TAMPA, FLORIDA 33609813-229-3328  Thank you for visiting our website. If you have received a letter or correspondence from our office regarding a lawsuit or foreclosure filed against you, and are now visiting our website, then you are aware that a significant legal action has been commenced to collect on a debt alleged to be owing. The first step in a lawsuit is the filing of the Complaint in the appropriate County Court along with the issuance of the Summons. Once the Summons is issued, the Creditor will either enlist a process server or an agent or officer of the Sheriff’s Department located in your County to serve the Summons and the Complaint. Generally, the Defendant, meaning the person being sued, must file a Response to the Complaint within twenty (20) days in order to avoid a Default, and the rapid delivery of a Judgment by the assigned Judge against the Defendant. The Defendant has a number of options to address such a Lawsuit. One option is to Defend the Lawsuit. The Defendant may file an Answer in the appropriate Courthouse, alleging any Defenses he or she may have to the Lawsuit. Even if such Defenses do not ultimately prevail, it is important for the Defendant to file an Answer in order to avoid a Default Judgment. Once the Answer is filed, the Defendant may either attempt to fully Defend against the Lawsuit, if there are valid Defenses against the Lawsuit. For example, the Plaintiff, or party bring the Lawsuit, may be suing the wrong party, or the Defendant may have meritorious claims against the Plaintiff, or the Plaintiff may have brought the Lawsuit after the time permitted by the Statute of Limitations. In the State of Florida, most Lawsuits must be filed within five (5) years after the date of Default. The filing of the Answer places the Defendant in better position to attempt to Settle the Debt claimed by the Plaintiff. If you enlist the services of our Law Firm, we will negotiate on your behalf to achieve a Settlement with the Creditor. The nature and amount of the Settlement can vary depending upon the particular circumstances of your case. The Defendant may also seek the protection provided by the Bankruptcy Laws. There are two forms of Bankruptcy available to most Debtors.  The Chapter 7 Bankruptcy is often referred to as a Straight Bankruptcy or Straight Liquidation. In a Chapter 7, the Debtor is generally seeking to Discharge or have forgiven most or all of his or her Unsecured Debts. Such Debts generally would include credit cards, personal loans, medical bills, and other forms of Debts that are not liened or Secured by Collateral or Assets. Another form of Bankruptcy is Chapter 13. Chapter 13 is a form of Debt Consolidation or Debt Reorganization where the Debtor seeks to consolidate most or all of his or her Debts into one monthly payment. The duration of a Chapter 13 repayment plan is usually between thirty six (36) to sixty (60) months. In a Chapter 13 Bankruptcy, the Debtor might also significantly reduce automobile payment obligations and sometimes even eliminate second mortgages on their... --- - Published: 2024-07-18 - Modified: 2024-07-18 - URL: https://www.jayweller.com/leases-bankruptcy/ How are Leases Treated in Bankruptcy? Bankruptcy Code Section 365(a) states the debtor may assume or reject any executory contract or unexpired lease. This rule applies to an apartment lease, an automobile lease, or any other variety of lease. The debtor must either continue paying the lease according to its terms or reject the lease, or surrender the object of the lease. If the debtor is behind on the lease, he must promptly cure such default. This means he must bring the lease current according to the terms of the lease. For more information about leases in bankruptcy, contact the experts at Jay Weller Legal Group for a consultation today. --- - Published: 2024-07-18 - Modified: 2024-07-18 - URL: https://www.jayweller.com/locations/driving-directions-clearwater-law-office/ The Weller Legal Group 25400 U. S. 19 North, Suite 150Clearwater, FL 33763E-mail: JWeller@WellerLegalGroup. com Phone: (727) 539-7701Toll free 1-800-407-DEBT (3328)Fax: (727) 524-3850Driving Directions to our Clearwater Law Office Coming from the downtown Clearwater courthouseyou will take Fort Harrison Avenue South toward Court St. . Turn left onto Chestnut Steet and continue onto Court Street. . Continue onto Gulf to Bay Blvd. . Landmarks on your right;• CVS Get into the left lane as you approach US 19 N. . Landmarks on your right;• The Home Depot Landmarks on your left;• Chic-Fil-A Turn left onto US-19 North Landmarks on your right;• Clearwater Mall Continue towards Drew Street / US 19 Intersection. . Landmarks on your right;• Perkins, Winghouse, Chipotle Stay in the center lane. . Landmarks on your right;• Guitar Center Go through the Drew Street intersection to proceed onto US 19 N. . Landmarks on your right;• Best Buy Merge into the left lane(s) to proceed onto US19 North. . Landmarks on your right;• Clearwater US 19 Commerce Center Merge left onto US 19 North. . Landmarks on your left;• Brighthouse Field, Phillies Spring Training Center Continue north on US 19 North Landmarks on your left;• Super 8 Hotel Continue North on US 19 through Coachman Road. . Continue North on US 19 North through Sunset Point Road. . Landmarks on your right;• The Varsity Club (Clearwater) Landmarks on your left;• Barnes & Noble Continue North on US 19 North, prepare to get into the right lane. . Landmarks on your right;• The Fresh Market Continue on US 19 N through the Enterprise Blvd. intersection. . Landmarks on your right;• Chili’s, Chic-Fil-A Take the Countryside Blvd exit off of US 19 N. . Landmarks on your right;• PetSmart, The Office Depot Continue straight and prepare to make left U-turn onto US 19 South. . Landmarks on your right;• Denny’s, Dicks Sporting Goods, Starbucks Stay in left lane and prepare to turn left. . Landmarks on your right;• Starbucks, Grillsmith, Moes, Bank of America Get into far-left lane and prepare to turn left toward US 19 S. . Landmarks on your right;• Westfield Countryside Mall Make the left U-turn under US 19. . Stay in the left lane towards US 19 South. . Landmarks on your right; ToysR’us, Macys Furniture Gallery Take the ramp on the left onto US-19 South Landmarks on the right;• Arigatos, Red Lobster Continue on US 19 South under the Pinellas Trail foot-bridge. . Continue on US 19 south, destination will be on the right. . Landmarks on the right;• Country Pizza Take the second entrance into the 25400 Executive Center Office Park. . Turn right into The Executive Center. . Our offices are to your right. . The Weller Legal Group’s Clearwater Law Office is just one of our three locations in the Tampa Bay Area. . We are suite #245. . Handicapped parking is always readily available. . Our offices are located in the second main hallway on your right as you enter the complex.... --- - Published: 2024-07-18 - Modified: 2024-07-19 - URL: https://www.jayweller.com/locations/driving-directions-port-richey-office/ The Weller Legal Group BB&T BANK9501 U. S. Highway 19 NorthSuite 210Port Richey, FL, 34668E-mail: jweller@wellerlegalgroup. com Phone: 727-375-9378 Take US 19 North Continue North on US 19On your right;• O’Reilly Auto Parts Continue North on US 19On your right;• ACE Hardware Continue North on US 19Landmarks on left Continue North on US 19On your right;• Hess Continue North on US 19 through Lake Street Continue North on US 19 Out of Tarpon SpringsOn your right;• O’Reilly Auto Parts Continue North on US 19 Continue North on US 19On your right;• The Anclote River Continue North on US 19 Continue North on US 19 Continue North on US 19 Continue North on US 19On your right;• Mobile Continue North on US 19 Continue North on US 19On your right;• O’Reilly Auto Parts Continue North on US 19 Continue North on US 19 Continue North on US 19 Continue North on US 19On your right;• Kanes Continue North on US 19 Continue North on US 19Landmarks on left Continue North on US 19 Continue North on US 19 Continue North on US 19On your right;• Honda Continue North on US 19On your right;• Steak and Shake Continue North on US 19On your right;• Hess Continue North on US 19Landmarks on left Driving Direction Get into the right lane and prepare to turn right into Embassy Crossing Turn Right in to Embassy Crossing Continue North on US 19On your right;• O’Reilly Auto Parts Continue North on US 19On your right;• ACE Hardware Driving DirectionLandmark on rightLandmarks on left Driving DirectionOn your right;• O’Reilly Auto Parts Driving DirectionOn your right;• O’Reilly Auto Parts Driving DirectionOn your right;• O’Reilly Auto Parts Driving DirectionOn your right;• O’Reilly Auto Parts Driving DirectionOn your right;• O’Reilly Auto Parts Take US 19 North Continue North on US 19On your right;• O’Reilly Auto Parts Continue North on US 19On your right;• ACE Hardware Continue North on US 19Landmarks on left Continue North on US 19On your right;• Hess Continue North on US 19 through Lake Street Continue North on US 19 Out of Tarpon SpringsOn your right;• O’Reilly Auto Parts Continue North on US 19 Continue North on US 19On your right;• The Anclote River Continue North on US 19 Continue North on US 19 Continue North on US 19 Continue North on US 19On your right;• Mobile Continue North on US 19 Continue North on US 19On your right;• Denny’s Continue North on US 19On your right;• O’Reilly Auto Parts Continue North on US 19 Continue North on US 19 Continue North on US 19 --- - Published: 2024-07-17 - Modified: 2024-07-17 - URL: https://www.jayweller.com/dunedin-bankruptcy-lawyer/ DUNEDIN FLORIDA BANKRUPTCY LAWYER Dunedin bankruptcy lawyer Jay M. Weller is available if you are seeking representation in either Chapter 7 bankruptcy or Chapter 13 bankruptcy. Mr. Weller is familiar with all Chapters of bankruptcy, including Chapter 11. However, the majority of his practice involves the representation of debtors in Chapter 7 bankruptcy and Chapter 13 bankruptcy. Mr. Weller, for the fifth straight year, has been designated the best bankruptcy attorney in Dunedin, Florida. Mr. Weller is grateful and humbled by this designation. Mr. Weller is President of Weller Legal Group PA. Since 1993, Weller Legal Group PA has represented and assisted many hundreds of residents of Dunedin in bankruptcy proceedings, and through our many offerings which are alternatives to bankruptcy. Besides bankruptcy, Weller Legal Group offers representation and assistance in foreclosure defense, lawsuit defense, debt settlements, credit counseling, credit repair, loan workout, and tax negotiations, and monthly budgeting. Weller Legal Group offers almost every conceivable program to help those confronted with issues relating to debt. The bankruptcy lawyers and paralegals at our law firm are dedicated, and experienced in most matters as they relate to debt and bankruptcy. For our community members in Dunedin and its environs, please contact our office today at 727-539-7701, or toll free at 1-800-407-3328 (DEBT). At Weller Legal Group, “If you are in debt, we can help! ” Image credit: Wikipedia --- - Published: 2024-07-17 - Modified: 2024-07-17 - URL: https://www.jayweller.com/exceptions-to-discharge/ What are the Exceptions to Discharge? Bankruptcy Code Section 523 governs the Exceptions to Discharge, meaning which debts cannot be eliminated by successful completion of a Chapter 7 Bankruptcy. Such debts can be Discharged through a Chapter 13 Bankruptcy if the debtor pays these debts in full through the Chapter 13 plan. Bankruptcy Code Section 523(a)(1) states that a tax or customs duty is not dischargeable unless a number of criteria are met. The tax obligation must be at least three years due (including extensions) and the debtor must have filed his tax return at least two years ago. Secondly, the debtor cannot have made a fraudulent return or attempted to willfully evade such tax. The taxes must have been assessed more than 240 days before the filing of the petition. If the debtor negotiated an offer in compromise, the taxes must have been assessed more than 240 days plus 30 additional days before the Bankruptcy filing. If a stay of proceedings against collection of the tax was initiated, the debtor must wait 240 days plus an additional 90 days. There are other Bankruptcy Laws relating to the Dischargeability of tax debts. Please confer with your Bankruptcy Attorney. Bankruptcy Code Section 523(a)(2) states that money, property or services obtained by fraud or a false representation, are not Dischargeable under the Bankruptcy Code. Consumer debts owed to a single creditor totaling more than $550. 00 for luxury goods or services incurred by the debtor within 90 days before filing the Bankruptcy are presumed to be non dischargeable. Luxury goods or services do not include goods or services reasonably necessary for the support of the debtor or his dependents. Also, cash advances totaling more than $825. 00 within 70 days before the Bankruptcy filing, are presumed to be non dischargeable. Another exception to Discharge is for fraud while acting in a fiduciary capacity, embezzlement, or larceny. Domestic obligations are not dischargeable in Bankruptcy. Damages resulting from the willful and malicious injury by the debtor of another person or his property, are also not dischargeable in Bankruptcy. Student loans are usually non dischargeable under Section 523(8)(A) of the Bankruptcy Code. However, student loans can be discharged if the debtor can prove “undue hardship”. There is a three part test to prove undue hardship. How to define undue hardship is an area of study in itself. Our office does have a number of clients who were able to Discharge their student loans. Bankruptcy Code Section 523(a)(9) states that a debt incurred for the death or personal injury caused by the debtor’s operation of a motor vehicle, or other vessel, is non dischargeable if the debtor was intoxicated from using alcohol, a drug, or other substance. The Bankruptcy Code and Laws have many other exceptions to Discharge but these are among the more prominent. Even if a debt is not specifically mentioned under the Bankruptcy Code Section 523 as an exception to Discharge, that debt may not be eliminated in Bankruptcy for other reasons. For... --- - Published: 2024-07-17 - Modified: 2024-07-18 - URL: https://www.jayweller.com/foreclosure-letter-all-2022-03/ FORECLOSURE PROCESS Before a Foreclosure is filed in the County Court, the Lender must satisfy certain mandates provided by Federal Law. The Federal Mortgage Servicing Laws provide that the Loan Servicer must contact or attempt to contact, by phone, the Borrower within 36 days after the first missed payment, and thereafter, thirty-six days after each additional missed payment. The Lender is obligated to discuss with the Borrower various loss mitigation options, including opportunities for a Loan Modification, Forbearance or Payment Plan.   In addition, thirty (30) to ninety (90) days before filing a Foreclosure Complaint, the Lender must deliver to the Borrower a Default or Breach Letter, notifying the Borrower that the Mortgage Loan is in Default, that the Borrower can Cure or pay such Default, and if such Cure is not provided, that the Loan can be accelerated. Such letter must also inform the Borrower of additional protections which may be available if the Borrower is actively serving in the military.   These notice requirements are mandatory with certain exceptions, such as if the Borrower files Bankruptcy or the Borrower requests that the Loan Servicer cease contact.   Federal Law also provides that the Borrower must generally be at least one hundred twenty (120) days delinquent before the Lender may commence Foreclosure proceedings .   During this stage before Foreclosure, the Servicing Company may charge additional fees relating to collection, including late fees and inspection fees.   The first step in the Foreclosure process is the filing in the County Court a Lis Pendens and a Complaint. A Lis Pendens is a notification that there is a pending Lawsuit or Foreclosure against the Borrower and the property or Home of the Borrower. A Complaint describes the nature and basis for the Foreclosure, generally, that the Borrower is in default under the terms of the Mortgage or Loan.   The Clerk of the Court will issue a Summons, and a process server, or in some Counties, a Sheriff, will serve the Complaint and Summons upon the Borrower. The Complaint and Summons is usually served within one to two weeks after the Summons is issued.   Once the Complaint is served, the Borrower has twenty (20) calendar days to file a Response or Answer to the Complaint. In the absence of the filing of a Bankruptcy, which usually will immediately stop Foreclosure Proceedings, the Borrower is advised to file a Response. If a Response or Answer is not filed, the Lender may seek a Default, and more quickly seek the Sale of the subject property at a Foreclosure Sale.   The Response does not necessarily need to be in the more formal style drafting by an experienced Attorney. Relevant case law and other legal citations are not required. The most important provision of the Response or Answer is that it be submitted to the Clerk of Court within the prescribed period of twenty (20) days and in good faith, meaning the Answer or Response be true and correct to the best of the knowledge, information, and belief of the party submitting the document. The Answer may simply respond to the various allegations in the Complaint with one of the... --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-in-brandon-fl/ BANKRUPTCY LAWYER IN BRANDON Do you need a good Bankruptcy Lawyer in Brandon? Is there a good Bankruptcy Lawyer in Brandon? Is there a reputable and honest Bankruptcy Lawyer in Brandon? Who is the premier Bankruptcy Lawyer in Brandon? Since 1993, the Bankruptcy Lawyer of choice for many of the Residents of Brandon, Florida has been Weller Legal Group and Jay Weller. Jay Weller is considered by many to be the premier Bankruptcy Lawyer in Brandon and the Tampa Bay area. The Bankruptcy Lawyers at Weller Legal Group primarily and almost exclusively practice Bankruptcy Law. Since 1993, Weller Legal Group has represented over forty thousand persons in the Brandon and Tampa area in Bankruptcy Proceedings. Most of our Clients will file either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. A Chapter 7 Bankruptcy is often called a Straight Liquidation or a Straight Bankruptcy. Chapter 7 Bankruptcy is designed to Discharge or eliminate Unsecured Debts such as Credit Cards, Medical Bills, Signature and other Bank Loans, and other similar types of Debt. Secured Debt, such as a Home Mortgage or Automobile Loan, is not Discharged in a Chapter 7 Bankruptcy. A Debtor in Chapter 7 Bankruptcy may continue paying the Secured Debt and retain the Collateral or may surrender the Secured Debt, which Discharges any obligation he may have regarding that particular loan or obligation. Chapter 13 Bankruptcy is also called a Debt Reorganization, a Debt Consolidation, or a Wage Earners Plan. Chapter 13 Bankruptcy is designed to stop Foreclosure on a Home or Property. Within Chapter 13 Bankruptcy, there is a Mortgage Mediation Program that allows the Bankruptcy Lawyer to Modify the terms of the Mortgage. If you are looking for a Bankruptcy Lawyer in Brandon or the general Tampa Bay area, then please call Jay Weller at Weller Legal Group today. We can be reached Toll-Free at 1-800-407-3328. Please call today for a Free Consultation with a Bankruptcy Lawyer in our Law Firm. Weller Legal Group offers Military and Veteran Discounts. Thank you for your service. --- - Published: 2024-07-16 - Modified: 2025-04-02 - URL: https://www.jayweller.com/bankruptcy-lawyer-in-lakeland/ Is there a good Bankruptcy Lawyer in Lakeland? Who is the premier Bankruptcy Lawyer in Lakeland? Is there a competent and reputable Bankruptcy Lawyer in Lakeland? Is there a good and experienced Bankruptcy Lawyer in Lakeland? Jay Weller is considered by many to be the premier Bankruptcy Lawyer in Lakeland. Jay Weller first opened an office in Lakeland, Florida in 1995, and has represented over 40,000 persons in Bankruptcy from Lakeland and the surrounding Tampa Bay area, since 1993. Bankruptcy Lawyers at Weller Legal Group are rated by many to be the best in the Lakeland and Tampa communities. If you think you need to file Bankruptcy, then know that there are two primary Chapters of Bankruptcy that are most often filed.  Chapter 7 Bankruptcy is known as a Straight Bankruptcy and is usually used by a Bankruptcy Lawyer seeking to Discharge a Debtor’s unsecured obligations, such as Credit Card Debts, Medical Bills, and other types of obligations. Chapter 7 Bankruptcy will not usually Discharge Secured, such as Automobile Loans or Home Mortgages. The Debtor in a Chapter 7 Bankruptcy generally must continue paying the secured obligation, in which case he is usually allowed to keep the Collateral or the Secured Property. If a Debtor in Chapter 7 Bankruptcy surrenders the Secured Property or Collateral, then usually such obligation is Discharged in Full Satisfaction. Chapter 13 Bankruptcy is called a Reorganization or Consolidation. Chapter 13 Bankruptcy is designed to Stop Foreclosures on Homes and Property, Stop Wage Garnishments including those by the Internal Revenue Service, and Consolidate all obligations into one reduced monthly payment. Chapter 13 Bankruptcy also contains a Mortgage Mediation Program where the Bankruptcy Lawyer can attempt to renegotiate the terms of the Mortgage, such as Interest Rates, Monthly Payment Terms, and sometimes even Principal Balances. The Bankruptcy Lawyers at Well Legal Group are also experienced and trained in our many Non-Bankruptcy Programs or Bankruptcy Alternatives. These Programs include Foreclosure Defense, Loan Modifications, Credit Counseling, Credit Repair, Settlements, and Short Sales. Contact Us If you need a Bankruptcy Lawyer in Lakeland or the greater Tampa Bay area, please call Weller Legal Group today and speak with an experienced Bankruptcy Lawyer. Please call today for a Free Consultation at 1-800-407-3328. You will speak with and meet directly with an actual Bankruptcy Lawyer. 1543 Lakeland Hills Blvd, Suite 1Lakeland, FL 33805E-mail: jweller@wellerlegalgroup. com Phone 863-802-5505Driving Directions to our Lakeland Law Office --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-in-safety-harbor/ BANKRUPTCY LAWYER IN SAFETY HARBOR A good Bankruptcy Lawyer in Safety Harbor? Need a good Bankruptcy Lawyer in Safety Harbor? Is there an experienced Bankruptcy Lawyer in Safety Harbor? Who is the best Bankruptcy Lawyer in Safety Harbor? For many in Safety Harbor, Florida, Jay Weller and the Bankruptcy Lawyers at Weller Legal Group are considered the first place to call when confronted with the crippling face of Debt. Bankruptcy Lawyers at Weller Legal are probably the premier Lawyers practicing Bankruptcy in the Tampa Bay area. From its creation in 1993, Weller Legal has filed well over 40,000 Bankruptcies and has represented thousands of Clients through our Non-Bankruptcy Programs. The Bankruptcy Lawyers, Counselors and Paralegals are here to assist you through our many Non-Bankruptcy Alternatives including Loan Modification, Foreclosure Defense, Credit Counseling, Credit Repair, Creditor Harassment Matters, Debt Settlements, Loan Workouts, and Short Sales. Not everyone confronted with Debt needs to file for Bankruptcy. If you need to file Bankruptcy, then you probably will file either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. Chapter 7 Bankruptcy enables the Bankruptcy Lawyer to seek the Discharge of Unsecured Debts, including Credit Cards, Medical Bills, Signature Loans, and similar Debts. Usually, the Bankruptcy Lawyer can arrange for you to retain your Automobile and Home, provided you are current on the payments. If your Automobile is paid off, you can generally keep the Automobile in Chapter 7, depending upon how much Equity you have in the Vehicle. Chapter 13 Bankruptcy, or the Wage Earners Plan, enables the Bankruptcy Lawyer to seek the Consolidation of the Client’s Debts into one monthly payment that is generally less than he would ordinarily be required to pay, absent Chapter 13. Chapter 13 Bankruptcy is often used to Stop Foreclosures, Repossessions, and Wage Garnishments, and to alter the terms of the Debtor’s Mortgage through the Mortgage Mediation Program. If you live in Safety Harbor, Florida then our closest Law Office is located on US 19 North in Clearwater, just North of Sunset Point Road. Our Clearwater Office is directly across from Dimmit Chevrolet and Dimmit Cadillac. Please Call Today for a Free Consultation. You can speak directly with our Bankruptcy Lawyer by calling 727-539-7701. If you live outside of Pinellas County, or wish to meet the Bankruptcy Lawyer at one of our other Law Offices, you may Call Toll Free at 1-800-407-3328. We are here to Help You! Please Call Today. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-in-spring-hill/ BANKRUPTCY LAWYER IN SPRING HILL Do you need a Bankruptcy Lawyer in Spring Hill? Are you looking for a Bankruptcy Lawyer in Spring Hill? Who is the best Bankruptcy Lawyer in Spring Hill? Who is the premier Bankruptcy Lawyer in Spring Hill? If you live in Spring Hill, Florida or in the greater Tampa Bay area and are in Debt, Jay Weller and Weller Legal Group are here to help you. Since 1993, Weller Legal Group has been considered by many in the Legal Community to be the premier Bankruptcy Law Firm in the Tampa Bay area. From 1993 to present, the Bankruptcy Lawyers and Paralegals at Weller Legal Group have represented more than 40,000 Clients in Bankruptcy Proceedings, and many thousands more Clients through our numerous Non Bankruptcy Programs or Bankruptcy Alternatives. You may not need to file Bankruptcy. The Bankruptcy Lawyers at Weller Legal are experience and trained in our many Non Bankruptcy Programs. These Programs include Foreclosure Defense, Loan Modification, Credit Repair, Credit Counseling, Debt Settlements, Loan Workouts, Creditor Harassment Litigation, and Short Sales. We generally do not represent our Clients in Short Sales because often a Short Sale is not in their best interest. If you are considering whether to attempt a Short Sale on your Home or Property, the Bankruptcy Lawyer can explain the benefits and injurious aspects of Short Sales. If you need to file Bankruptcy, or are considering whether to file Bankruptcy, then be aware of the two main Chapters of the Bankruptcy Code that may benefit you. The most commonly filed Chapters of Bankruptcy are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Chapter 7 Bankruptcy is primarily designed to permit the Bankruptcy Lawyer to seek the Discharge of Unsecured Debts on behalf of his Client. Unsecured Debts are Debts that are not Secured by Collateral. A Credit Card is an Unsecured Debt, while an Automobile or Car Loan is a Secured Debt. Chapter 13 Bankruptcy or the Wage Earners Plan, is designed to allow the Bankruptcy Lawyer to seek the combination of most or all of his Client’s Debts into one, generally reduced, monthly payment. Chapter 13 Bankruptcy also contains a Mortgage Mediation Program where the Bankruptcy Lawyer can attempt to renegotiate the terms of the Mortgage, including Interest Rates, Monthly Payments and sometimes even the Balance of the Mortgage. A Mortgage Modification received through the Chapter 13 Bankruptcy is a permanent Modification that survives beyond the five year term of the Chapter 13 Bankruptcy. If you live in Spring Hill, Florida or in the greater Tampa Bay area, we have an Office that is conveniently located to you. We are here to help you. Please Call Jay Weller today Toll Free at 1-800-407-3328 for a Friendly and Free Consultation. Mr Weller enjoys speaking with all of his Clients. If you are in Debt, we can help. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-new-port-richey-fl/ There is a reputable and capable bankruptcy lawyer in New Port Richey. Since 1993, Jay Weller has been dedicated to the representation of the New Port Richey and surrounding communities in bankruptcy matters. Weller Legal Group, PA is the oldest remaining law firm in New Port Richey, Florida with a concentration in bankruptcy law. Our law office only represents debtors seeking solutions to the issues relating to debt. Since 1993, Mr. Weller has only practiced bankruptcy law. Mr. Weller and the bankruptcy lawyers and paralegals at Weller Legal have participated in the representation of tens of thousands of bankruptcy filings, helping not only individuals and businesses in New Port Richey, and its surrounding locales, but the greater Tampa Bay region. Weller Legal Group has offices in New Port Richey, Clearwater, Lakeland and Brandon, Florida. Our bankruptcy lawyers are committed to the representation of debtors only in bankruptcy proceedings. The majority of the practice is concentrated upon the representation of both individuals and businesses in Chapter 7 bankruptcy and Chapter 13 bankruptcy matters. However, our offices, including our office in New Port Richey, are equipped to help our clients in non bankruptcy alternatives. Sometimes, bankruptcy is not the best solution to addressing issues relating to debt. Sometimes, the filing of a bankruptcy can aggravate or worsen the financial condition of a debtor. No one case is the same. Our bankruptcy lawyer, Mr. Weller, will gladly meet with you personally at our New Port Richey location to discuss your particular situation. Mr. Weller is considered by many in the legal community to be one of the premier bankruptcy lawyers in New Port Richey and its surrounding locales. Mr. Weller does not charge for the initial consultation. He will patiently analyze your particular situation, and recommend alternative solutions, including bankruptcy if appropriate. If you need a bankruptcy lawyer, and reside or work in New Port Richey, or its close proximity, our New Port Richey office, is our most convenient location. Call today for a free consultation with our bankruptcy lawyer, Mr. Weller, at our New Port Richey office. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-palm-harbor/ BANKRUPTCY LAWYER PALM HARBOR Are you looking for a good Bankruptcy Lawyer in Palm Harbor, Florida? Are there any good Bankruptcy Lawyers in Palm Harbor, Florida? Is there a highly rated Bankruptcy Lawyer or Law Firm in Palm Harbor, Florida? If you call Weller Legal Group you probably will not go wrong. Weller Legal Group and Jay Weller have been serving the Palm Harbor, Florida community since 1993. The Bankruptcy Lawyers at Weller Legal Group have represented over forty thousand persons in Bankruptcy over the last twenty years. When you call our Law Office, you can speak directly with a real Bankruptcy Lawyer. Our Bankruptcy Lawyers at Weller Legal Group are experienced in Bankruptcy Law and primarily practice Bankruptcy Law on a daily basis. If you live in Palm Harbor, Florida, please call our office today at 727-539-7701 to schedule a Friendly and Free Consultation with one of our Bankruptcy Lawyers. Jay Weller and Will Brumby are considered by many to be the best Bankruptcy Lawyers in Palm Harbor. Our Law Office is conveniently located on US 19 North. Our Bankruptcy Lawyers are located at our Clearwater Office at 25400 US 19 North, Suite 150, Clearwater, Florida. We are located on the West Side of US 19 North, directly across from Dimmit Chevrolet and about one quarter mile South of the Countryside Mall or the Westfield Shopping Plaza, as it is known now. The Bankruptcy Lawyer will analyze your entire Debt situation. The Bankruptcy Lawyer will then discuss whether you need to file Bankruptcy. Is there a Alternative to Bankruptcy or a Non Bankruptcy program that the Bankruptcy Lawyer can offer, that will allow you to avoid filing Bankruptcy? If you need to file Bankruptcy, the Bankruptcy Lawyer will explain how Bankruptcy applies to your particular situation. There are two main types of Bankruptcy that most of our Clients from Palm Harbor and Tampa Bay file. Chapter 7 Bankruptcy is also called a Straight Bankruptcy or a Straight Liquidation. Chapter 13 Bankruptcy is also known as a Debt Reorganization, a Debt Consolidation or a Wage Earners Plan. The Bankruptcy Lawyers and Paralegal at Weller Legal Group are here to help you. We are grateful to our many Clients from Palm Harbor, Florida and the greater Tampa Bay community. Please contact our Law Office today for a Free Consultation with one of our experienced and competent Bankruptcy Lawyers. Weller Legal Group offers Military and Veterans Discounts. Thank you for your Service to our great nation. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-port-richey-fl/ For those seeking a bankruptcy lawyer in Port Richey, Jay Weller and Weller Legal Group is committed to the representation of persons who are in need of representation in bankruptcy. The bankruptcy lawyers and paralegals at Weller Legal are experienced and knowledgeable in most aspects of bankruptcy law. Weller Legal is dedicated to the representation of debtors in primarily, Chapter 7 and Chapter 13 bankruptcy proceedings. Our practice is entirely devoted to the representation of persons and businesses that are in financial distress. Since 1993, Weller Legal has been one of the more prominent law firms in the Port Richey and greater western Florida region in matters relating to bankruptcy, debt consolidation, and other programs relating to the relief of debt. If you are considering whether to file bankruptcy, there are likely two Chapters of bankruptcy that you may be eligible to file. A Chapter 7 bankruptcy is also called a straight bankruptcy or a straight liquidation. Chapter 7 bankruptcy is commonly filed by persons seeking to discharge or eliminate unsecured debts. Examples of unsecured debts are credit cards, signature loans, medical bills, deficiency balances on repossessed automobiles or foreclosed real estate properties, and utility bills. We are able to enable the majority of our clients who file Chapter 7 bankruptcy, to discharge such unsecured debts, and concurrently retain most or all or their personal property. There are limitations upon whom may file a Chapter 7 bankruptcy, determined by income and family size calculations. Other actions, such as transfers of certain assets before a contemplated bankruptcy filing or certain usages of credit cards and other devices, may complicate the filing of a Chapter 7 bankruptcy. However, our bankruptcy lawyer, Mr. Weller, will be happy to meet with you to discuss your particular situation. A Chapter 13 bankruptcy is form of bankruptcy where the filer seeks to consolidate his or her debts into one monthly payment. Often, the filer is able to greatly reduce the monthly obligations associated with such debts, including automobile loans, credit cards, and other obligations. Chapter 13 bankruptcy is also commonly used to stop foreclosures, repossessions, and garnishments by various creditors, including the Internal Revenue Service. The bankruptcy lawyers at Weller Legal are dedicated to providing you the best representation possible in resolving such debt problems. Our Port Richey office is conveniently located on US 19 in the heart of Port Richey, Florida. The consultation is free of charge. Call or contact us today for a consultation with Mr. Weller at our Port Richey office. Weller Legal and its bankruptcy lawyers have been serving the good people of Port Richey for more than twenty years. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-services-in-brooksville-florida/ The premier bankruptcy lawyer for Brooksville and Hernando County is Jay M. Weller of Weller Legal Group. Mr. Weller has represented thousands of clients seeking relief from financial distress through either Chapter 7 bankruptcy or Chapter 13 bankruptcy. Mr. Weller is President of Weller Legal Group PA, an organization dedicated to representing only individuals and small businesses, through either bankruptcy proceedings or through our many programs that are alternatives to bankruptcy. In addition to representation in Chapter 13 and Chapter 7 bankruptcy, our law offices are also equipped to represent our clients through programs that are another option, other than bankruptcy. Among the programs offered are foreclosure defense, settlements, loan and tax workouts, credit repair, credit counseling, monthly budgeting, and the general representation of clients against the aggressive actions of creditors. Looking for a Brooksville bankruptcy lawyer? Then, call Weller Legal Group, PA today and toll-free at 1-800-407-3328. At Weller Legal Group, our motto is, “If you are in financial distress, we can help! ” If you are interested in more information regarding bankruptcy, please feel free to investigate our website. Our website is currently the largest database in the world dedicated to the subject of Chapter 7 bankruptcy and Chapter 13 bankruptcy. With well over a thousand pages of information, there probably is an answer to almost any question you may have regarding either Chapter 7 bankruptcy or Chapter 13 bankruptcy. Image credit: Wikipedia --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-st-petersburg-fl/ ST PETERSBURG BANKRUPTCY LAWYER If you are seeking a Bankruptcy Lawyer in St Petersburg, Florida, then you should know that Mr. Jay M Weller at Weller Legal Group PA is the first choice of many. Bankruptcy Lawyer Jay Weller began the practice of bankruptcy law in 1993. Mr. Weller only represents debtors, and mostly practicing bankruptcy law, with a concentration in Chapter 7 bankruptcy and Chapter 13 bankruptcy. Mr. Weller is an experienced and knowledgeable bankruptcy lawyer. He is considered by many in the St Petersburg legal community to be the premier bankruptcy lawyer, representing debtors. The bankruptcy lawyers and paralegals at Weller Legal are also knowledgeable and experienced in most matters relating to bankruptcy law. Chapter 7 bankruptcy is sometimes called a straight bankruptcy. In a Chapter 7 bankruptcy, the debtor seeks to discharge or eliminate most or all of his or her unsecured debts. Unsecured debts include credit cards, medical bills, deficiencies on automobile or home loans, and other forms of debt that are not secured by some form of collateral or property. For those who qualify for Chapter 7 bankruptcy, most of our clients are able to retain most or all of their personal property, and their homestead. Chapter 13 bankruptcy is often called a debt consolidation or debt reorganization. In a Chapter 13 bankruptcy, the debtor seeks to consolidate most or all of his or her debt into one monthly payment, generally dramatically reduced from the monthly obligations incurred before the filing of the Chapter 13. If you live in St Petersburg, Florida or its wider region, and are seeking a bankruptcy lawyer to help and assist you in your difficulties relating to debt, then please call or contact Mr. Weller today. Mr. Weller will usually speak with you directly. He will listen carefully, and fully analyze your case. He will offer solutions. At Weller Legal Group our motto is, “If you are in debt, we can help. ” For our clients in St Petersburg, please contact us directly at 727-539-7701, or through our website. The bankruptcy lawyers and paralegals at our law office are here to help you. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/can-bankruptcy-help-second-mortgage/ Can Bankruptcy Eliminate Second Mortgage on My Home? A debtor filing a Chapter 13 can find that Bankruptcy eliminate second mortgage on his or her Homestead. In order to eliminate the second mortgage, the fair market value of the Homestead must be less than the balance owed on the first mortgage. We can establish the fair market value through either an appraisal from a certified property appraiser or a statement from the County property tax collector as to the Homestead’s value. This process is called lien stripping because the debtor in Bankruptcy eliminating the second mortgage from the Homestead is compared to someone stripping paint from a house. This process can only be accomplished through a Chapter 13 Bankruptcy, and only can be performed on a Homestead. Our bankruptcy law firm can help you understand if bankruptcy can help eliminate a second mortgage and other bankruptcy questions you may have. If you need legal advice regarding can bankruptcy eliminate a second mortgage, contact us online or call us at 1-800-407-DEBT(3328). --- - Published: 2024-07-16 - Modified: 2025-03-13 - URL: https://www.jayweller.com/clearwater-bankruptcy-attorney/ Need a good Clearwater Bankruptcy Attorney? Looking for a good Clearwater Bankruptcy Attorney? Is there a reputable and experienced Clearwater Bankruptcy Attorney? Who is the premier Clearwater Bankruptcy Attorney? Weller Legal Group, since its founding in 1993, has filed over 40,000 Bankruptcies and represented many thousands more through our many Non-Bankruptcy Programs or Bankruptcy Alternatives. The team of Bankruptcy Attorneys at Weller Legal Group is considered by many to be the premier Bankruptcy Attorneys in the State of Florida. You may not need to file for Bankruptcy. Bankruptcy Attorneys, Counselors, and Paralegals at Weller Legal Group are experienced and knowledgeable in our many Non-Bankruptcy Programs or Bankruptcy Alternatives. Some of the Programs offered include Foreclosure Defense, Loan Modification, Credit Counseling, Credit Repair, Debt Settlements, and Creditor Harassment Litigation. If you are considering whether to file Bankruptcy then be aware of the two most commonly filed Chapters of Bankruptcy. Chapter 13 Bankruptcy is also known as the Wage Earners Plan, a Debt Reorganization, or Debt Consolidation. The Bankruptcy Attorney in a Chapter 13 Bankruptcy seeks to consolidate Most or All of his Client’s Debts into one consolidated payment, that is generally reduced from his previous monthly Obligations. In a Chapter 13 Bankruptcy, the Bankruptcy Attorney can Stop any Garnishment of Wages or Assets by the Internal Revenue Service, or another Taxing Authority, and allow the Debtor to pay any Taxes that are Not Dischargeable, through the Chapter 13 Plan. Such Taxes may be paid over a period of up to Sixty Months, and generally with no added Penalties and Reduced Interest or No Interest. Chapter 7 Bankruptcy is also called a Straight Bankruptcy or a Straight Bankruptcy. The Bankruptcy Attorney in a Chapter 7 Bankruptcy seeks to Discharge his Clients’ Unsecured Debts. Unsecured Debts are Credit Cards, Medical Bills, Signature or Bank Loans, or any Debt that is Not Secured by Collateral. A Secured Debt is an Automobile Loan or a Home Loan. Contact Us If you live in Clearwater, Florida, our Main Office is conveniently located in Clearwater at 25400 US 19 North in Suite 150. Our Law Office is located about one quarter mile North of Sunset Point Road and roughly one-quarter mile South of the Countryside Mall. We are directly across from Dimmit Chevrolet on US 19 North. Please Call Today for a Friendly and Free Consultation with our Bankruptcy Attorney. The Attorney’s Direct Number in Clearwater is 727-539-7701 or Toll-Free at 1-800-407-3328 (DEBT). We are here to help you. It is a honor and privilege to serve you. Please Call us Today in order that we may help. Thank you for your consideration, and if you are interested, our Website contains mountains of information on Bankruptcy and other Programs that may help. 25400 U. S. 19 North, Suite 150Clearwater, FL 33763E-mail: JWeller@WellerLegalGroup. com Phone: (727) 539-7701Toll free 1-800-407-DEBT (3328)Fax: (727) 524-3850Driving Directions to our Clearwater Law Office --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/clearwater-bankruptcy-lawyer/ CLEARWATER BANKRUPTCY LAWYER For those seeking a bankruptcy lawyer in Clearwater, Jay Weller and Weller Legal Group is a popular choice. If you are in need of a bankruptcy lawyer in the Clearwater area, Weller Legal Group has been serving both Clearwater and the greater Pinellas County area, since 1993. Our office has represented many tens of thousands of clients in bankruptcy proceedings and many thousands more through our programs which serve as an alternative to bankruptcy. Our law office exclusively represents persons who are confronted with some manner of debt. However, most of our clients have been represented and assisted through representation in bankruptcy. The most common forms of bankruptcy in which we practice and have knowledge, are Chapter 7 bankruptcy and Chapter 13 bankruptcy. Chapter 7 bankruptcy, also called a straight bankruptcy or straight liquidation, is a form of bankruptcy wherein the debtor seeks to discharge or eliminate, his or her unsecured debt obligations, such as credit cards, medical bills, signature loans, and similar types of debt. Chapter 13 bankruptcy is also called a debt reorganization or debt consolidation. In a Chapter 13 bankruptcy, the debtor seeks to consolidate his unsecured debt into a single monthly payment, which is usually substantially lower than the payment obligation required outside of Chapter 13. In some cases, the unsecured debt is completely eliminated in a Chapter 13 bankruptcy, and the debtor is removed from any contribution to his or her unsecured creditors. Chapter 13 bankruptcy is traditionally employed by debtors whose monthly income is such that they are disqualified from filing a Chapter 7 bankruptcy. Chapter 13 is also often filed when the non-exempt or non-protected portion of their assets, dramatically exceeds that which is permitted by the applicable exemption statute that governs the bankruptcy filer. Chapter 13 bankruptcy is also used to stop foreclosures, repossessions, and other creditor actions, and permit the debtor to sometimes reduce and consolidate such debts into a smaller and more manageable payment. If you are interested in more information or understanding of the concepts mentioned in this article, please consult our website. The website contains a plethora of information regarding the matters of both debt and bankruptcy, and is possibly the largest website in the world, addressing the subject of bankruptcy. Weller Legal Group has four offices including its main office in Clearwater, and offices in Port Richey, Lakeland, and Brandon. If you are in debt, we are here to help. Mr. Weller, and any of the bankruptcy lawyers in the office, are pleased to both speak and meet with you to discuss your particular situation. Please contact us either through our website, or by telephone toll free at 1-800-407-3328 (DEBT) or directly at our Clearwater office at 727-539-7701. image credit: 123rf. com --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/conversion-in-bankruptcy/ What is Conversion of a Bankruptcy Case? A Conversion of a Bankruptcy case is where debtor converts or changes his Chapter 13 Bankruptcy into a Chapter 7 Bankruptcy. Bankruptcy Code Section 1307(a) states that the debtor may convert a Chapter 13 Bankruptcy to a case under Chapter 7 Bankruptcy at any time. Bankruptcy Code Section 1307(b) also states that the debtor may Dismiss his Chapter 13 Bankruptcy at any time. Any waiver of the debtor’s right to Dismiss is unenforceable. Section 1307(c) of the Bankruptcy Code permits a party in interest, other than the debtor, to convert or Dismiss the Chapter 13 Bankruptcy into a Chapter 7 Bankruptcy. A party in interest can be the United States Trustee, the Bankruptcy Trustee, or a creditor. A Chapter 13 Bankruptcy can be converted or dismissed due to many factors, including unreasonable delay by the debtor that is prejudicial to creditors, nonpayment of any required fees or charges, failure to timely file a Chapter 13 Bankruptcy plan, revocation of an order of confirmation, failure to pay a domestic support obligation after the Bankruptcy filing, and numerous other reasons. To learn more about a conversion of a bankruptcy case and how it may affect you, contact the bankruptcy experts at Jay Weller Legal Group. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/dunedin-bankruptcy-attorney/ DUNEDIN FLORIDA BANKRUPTCY ATTORNEY Dunedin bankruptcy attorney Jay M. Weller has been serving and represented the many good people of Dunedin, Florida and its region, in bankruptcy proceedings, since 1993. Mr. Weller only represents debtors in Chapter 7 bankruptcy and Chapter 13 bankruptcy proceedings. Mr. Weller never represents creditors, against the interest of debtors. In Dunedin, Florida, Mr. Weller is considered by many to be the best bankruptcy attorney serving Dunedin. Mr. Weller has represented many hundreds of clients from Dunedin, Florida, along with many thousands more throughout the greater Tampa Bay area. The bankruptcy attorneys and paralegals at Weller Legal Group are considered among the premier professionals in Dunedin and its vicinities, representing debtors in primarily Chapter 13 and Chapter 7 bankruptcy. Weller Legal Group also offers alternatives to bankruptcy, including foreclosure defense, credit counseling, credit repair, debt settlements, loan and tax workouts, monthly budgeting, and wealth creation. Our attorneys, counselors, and other professionals are experienced and knowledgeable in most matters as they relate to debt. There is no other law firm in the Tampa area that offers so many programs to help people confronted with debt issues. If you are in debt, we can help. If you live in Dunedin, or the greater Pinellas County region, contact us today at 727-539-7701 or toll free at 1-800-407-3328 (DEBT). Let us be your lifeline. Image credit: Wikipedia --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/adequate-protection-bankruptcy/ What is Adequate Protection in Bankruptcy? Adequate protection is a term used in numerous sections of the Bankruptcy Code to describe protections afforded the holders of secured claims. Adequate protection is meant to preserve a secured creditor’s position at the time of the filing of the Bankruptcy. If adequate protection is not provided to a secured creditor, the creditor may take measures to obtain relief from the automatic stay, and retrieve the property in question. For example, an automobile loan is a secured debt, because the loan is secured by the creditor’s lien on the automobile. The creditor is called a secured creditor. An automobile is continually depreciating in value, so a debtor in Bankruptcy must make assurances that the creditor will be reimbursed for this decline in value. Adequate protection in this instance probably would require the debtor to make payments to the creditor that is equivalent to the value of the secured property. If a debtor files a Chapter 13 Bankruptcy, and seeks to pay the true value of an automobile through the Chapter 13 plan, then this amount must be amortized or paid, over a forty eight month period. If the automobile has a value of $10,000, then the debtor will pay approximately $203. 00 per month (which is $10,000 divided by 48 months) through the Chapter 13 Bankruptcy, to the secured creditor. The $203. 00 that the creditor receives monthly is adequate protection. Adequate protection in a Chapter 7 Bankruptcy usually involves making the full monthly automobile payment. The Bankruptcy Code does not specifically define adequate protection, however, Section 361 addresses its treatment in Bankruptcy. For more information about adequate protection in bankruptcy and how Jay Weller Legal Group can help you with your debt issues, contact us today or call us at 1-800-407-DEBT(3328). --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy_lawyer/chapter-13/bankruptcy-chapter-13/ In bankruptcy Chapter 13 is a form of bankruptcy which is organized under Chapter 13 of the bankruptcy code. Chapter 13 bankruptcy is arguably a more complex form of bankruptcy than Chapter 7 bankruptcy. Chapter 13 bankruptcy and Chapter 7 bankruptcy are the two most commonly filed Chapter of bankruptcy. Chapter 13 bankruptcy is commonly used to stop foreclosures on real property such as individual homesteads, stop repossession of automobiles and other important property, and stop garnishments, particularly by the Internal Revenue Service, and other governmental entities. Chapter 13 bankruptcy is also filed by debtors whose median income, as determined by their family size, significantly exceeds the amounts published by the US Trustees Office. If a debtor’s income significantly exceeds the median income amounts, the debtor may not qualify for the filing of a Chapter 7 bankruptcy and may need to file a bankruptcy under Chapter 13 in order to manage his or her debts. That does not mean that the debtor is disadvantaged by the filing of the Chapter 13 bankruptcy. Bankruptcy under Chapter 13 can offer a number of benefits and advantages that are not present in the filing of a Chapter 7 bankruptcy. If you are considering whether to file bankruptcy either Chapter 13, Chapter 7, or are considering other remedies to help alleviate the problems and issues associated with debt, then Jay Weller and Weller Legal Group PA are here to help. Since 1993, Mr. Weller has represented many thousands of clients in bankruptcy proceedings and other matters outside of bankruptcy but related to the management, reduction, and elimination of debt. Bankruptcy Chapter 13 or Chapter 7 is an area of law that is becoming progressively more complex and demanding of its practitioners. Mr. Weller and his Attorneys and Paralegals are experienced and knowledgeable in all facets of bankruptcy law. We are here to help you. Please contact us today either through our website or by calling us directly at 1-800-407-3328 (DEBT). Copyright : Daniel Fela --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-attorney-in-lakeland/ BANKRUPTCY LAWYER IN LAKELAND If you are in need of a bankruptcy attorney in Lakeland, then Mr. Jay Weller and Weller Legal Group may be able to assist. Weller Legal Group, PA is one of the oldest remaining bankruptcy law firms in Lakeland that almost exclusively practices bankruptcy law. The majority of our clients who seek bankruptcy protections file either Chapter 7 bankruptcy or Chapter 13 bankruptcy. Chapter 7 is also called a straight liquidation or a straight bankruptcy. In a Chapter 7 bankruptcy, the debtor seeks to discharge his or her unsecured debts, such as credit cards, signature loans, and medical bills. One may also owe deficiencies on automobile loans or home loans. Additionally, persons in accidents in which they owe monies exceeding insurance coverages, may file a Chapter 7 seeking to discharge such amounts, and reinstate their automobile license. Student loans are generally not discharged in bankruptcy. However, if a debtor can establish that the student loans present an “undue hardship”, he or she might receive a discharge or elimination, of student loan obligations in bankruptcy. In some cases, taxes and monies owed to governmental taxing entities, may be discharged in bankruptcy. The bankruptcy attorney can explain how the different laws pertaining to bankruptcy operate. Chapter 13 bankruptcy is also called a debt consolidation or debt reorganization. In a Chapter 13 the debtor seeks to consolidate most or all, or his or her debts, over a maximum of sixty (60) months. Chapter 13 bankruptcy is often employed to stop foreclosures on homes, the repossession of automobiles and other important assets, and garnishments by the internal revenue service. Sometimes, the debtor may significantly lower his or her monthly automobile payment obligations and other secured and unsecured debts. Among bankruptcy attorneys in Lakeland, Florida, Mr. Weller is considered one of the premier attorneys in his area of practice. If you live in Lakeland, Florida or its vicinities, and are in need of representation or counsel in managing and confronting your creditors, Weller Legal Group is here to help. If you need a bankruptcy attorney in Lakeland, Florida please contact us today at either 1-800-407-3328 (DEBT) or 863-802-5505. You may also contact us through our website at www. jayweller. com. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-attorney-in-port-richey-fl/ If you are seeking a bankruptcy attorney in Port Richey, Jay Weller and Weller Legal Group is one of the longest standing bankruptcy law firms in the Port Richey community. The bankruptcy attorneys and paralegals at Weller Legal have been dedication to the representation of individuals and businesses in the Port Richey area, since 1993. Our office in Port Richey, Florida is conveniently located on US 19 in Port Richey, in the BB&T bank building, on the East side of US 19, in front of the Gulf View Mall. There is an elevator in the bank building for those unable to ascend to the second floor via the stairs. Mr. Weller offers a free consultation to those seeking representation in bankruptcy, and those unsure of how to approach whatever issue of debt is confronting them. The creditors can be very aggressive and unforgiving. However, armed with information and knowledge of one’s rights and remedies, such matters can be positioned to one’s advantage. The bankruptcy attorneys at Weller Legal are dedicated and knowledgeable in all aspects related to bankruptcy law. The majority of our clients who file bankruptcy, file either Chapter 7 or Chapter 13 bankruptcy. Our website has both general and detailed discussions of Chapter 7 and Chapter 13 bankruptcy, along with the sister programs we offer for those either seeking an alternative method towards solving their debt issues, or for whom a bankruptcy is not a viable solution. If you are considering whether to file bankruptcy, or do not know what to do, Mr. Weller will be pleased to meet with you to discuss your particular situation. The initial consultation is free of charge. Our bankruptcy attorney will meet with you, analyze fully your situation, and recommend possible remedies. If you are in need of representation, please contact our office today toll free at 1-800-407-3328 (DEBT) or through our website at www. jayweller. com. Our bankruptcy attorney in Port Richey is her to help you. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-attorney-in-spring-hill/ Need a good Bankruptcy Attorney in Spring Hill? Looking for a Bankruptcy Attorney in Spring Hill? Is there an experienced and reputable Bankruptcy Attorney in Spring Hill? Who is the best Bankruptcy Attorney in Spring Hill? Jay Weller and Weller Legal Group is the answer for many. Since its creation in 1993, Weller Legal Group has filed over 40,000 Bankruptcies and has represented many thousands more through our Non-Bankruptcy Programs or Bankruptcy Alternatives. You may not need to file for Bankruptcy. Bankruptcy Attorneys and Paralegals at Weller Legal Group are specially trained and experienced in our many Non-Bankruptcy Programs including Foreclosure Defense, Loan and Mortgage Modifications, Credit Repair, Credit Counseling, Short Sales, Debt Settlements, and Workouts. The Bankruptcy Attorney will explain how any of these Programs apply or do not apply, to your situation. Weller Legal Group has arguably the two best Bankruptcy Attorneys in the State of Florida. Although Jay Weller is knowledgeable in every form or Chapter of Bankruptcy, two main forms are typically filed by Debtors. Chapter 13 Bankruptcy is also called a Debt Reorganization, a Debt Consolidation, or a Wage Earners Plan. Chapter 13 Bankruptcy permits the Bankruptcy Attorney to Stop Foreclosures, Stop Wage Garnishments, Stop Repossessions, and generally permits the Attorney and Debtor to consolidate most or all of one’s Debts into one combined and reduced, monthly payment. Chapter 13 Bankruptcy also contains a Mortgage Mediation Program where the Bankruptcy Attorney can renegotiate the terms of the Mortgage or Promissory Note. In Mortgage Mediation, the Bankruptcy Attorney will attempt to Waive Arrearages, Lower Interest Rates, Lower Monthly Payments, and Lower the Balance of the Mortgage or Loan. Chapter 7 Bankruptcy is also referred to as a Straight Bankruptcy or Straight Liquidation. In a Chapter 7 Bankruptcy, the Bankruptcy Attorney will attempt to Discharge the Unsecured Debts of the filer. Unsecured Debts include Credit Cards, Medical Bills, Utility Bills, Deficiencies on Home and Automobile Loans, and Cell Phone Bills. If you live in Spring Hill or the general Tampa Bay area, please call directly our Bankruptcy Attorney and Paralegals, Toll-Free at 1-800-407-3328 (DEBT). Our Offices are conveniently located. The Bankruptcy Attorneys and Paralegals at Weller Legal Group are here to help you! --- - Published: 2024-07-16 - Modified: 2025-04-02 - URL: https://www.jayweller.com/bankruptcy-attorney-in-tampa-fl/ Looking for a Bankruptcy Attorney in Tampa, Florida? Since 1993, Jay Weller and the Attorneys and Paralegals at Weller Legal Group have been serving the Tampa Bay community. Mr. Weller represents Debtors in primarily Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. What makes a good bankruptcy attorney? In your lifetime you may only have to file for bankruptcy protection one or two times. It is important that you choose your prospective bankruptcy attorney carefully or you could have many headaches coming your way in the near future. Just because a bankruptcy attorney passes the bar and is licensed to practice bankruptcy law in the state of Florida, does not mean the attorney is competent. There are a few things that determine whether your prospective bankruptcy attorney will provide beneficial representation, experience, reviews, and competency. If you are looking to hire an attorney, the experience should be one important factor that you should consider. How long has the bankruptcy attorney been practicing bankruptcy law? Does the attorney primarily practice bankruptcy law, or does the attorney practice many types of law? How many clients have the attorney represented in bankruptcy? Weller Legal Group primarily represents debtors in bankruptcy and has since 1993, representing many thousands of clients in bankruptcy. The next is reviews, if your prospective bankruptcy attorney has been in the business for a few years they should have some reviews on their profile. Look and study these past reviews and see if past clients had a good or bad experience with this bankruptcy attorney. Be careful of fake reviews. Some unscrupulous attorneys will post fake reviews. One way to spot a fake review is when the reviewer has also posted numerous reviews for other providers of services or goods. These are generally professional reviewers who are paid for their reviews. The last thing that makes up a good bankruptcy attorney is competency. Is your prospective bankruptcy attorney not able to answer your questions or do they stumble without knowing the correct answer? How many clients have the attorney successfully navigated through the bankruptcy process? Contact Us Questions to ask your bankruptcy attorney Here is a list of 8 questions that you should ask your prospective bankruptcy attorney. Of course, you can ask the bankruptcy attorney more than just these 8 questions but we believe that this is a good place to start with your prospective bankruptcy attorney. Below is a list of the 8 questions you should definitely ask your prospective bankruptcy attorney before hiring them: What is your experience as a bankruptcy attorney in Tampa? How much are your fees for the entire bankruptcy process? Do you think I should file Chapter 7 or Chapter 13 Bankruptcy? How will filing for bankruptcy benefit me and my family? How long will my entire case take before it is completely finished? What risks may I face when going through the bankruptcy process? How will we communicate throughout the bankruptcy process? Are you currently a licensed attorney in Florida? Jay Weller of... --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-attorney-madeira/ Are you seeking a Bankruptcy Attorney and you live in Madeira Beach, Florida? Is there a Highly Rated and Reputable Bankruptcy Attorney available for Residents of Madeira Beach in Florida? Who is the chosen Bankruptcy Attorney for Madeira Beach Residents and for the adjacent Tampa Bay Community? Jay Weller has been practicing exclusively Bankruptcy Law since 1993 and Weller Legal Group has been serving the Madeira Beach and Tampa Bay Community since that time. Weller Legal Group has represented over 40,000 Clients or Debtors in Bankruptcy Proceedings and has assisted and represented many thousands more through our Non Bankruptcy Programs. The Bankruptcy Attorneys at Weller Legal Group are experienced and knowledgeable in all facets of Bankruptcy Law, and we represent Debtors in Chapter 7 Bankruptcy, Chapter 11 Bankruptcy and Chapter 13 Bankruptcy Matters. The Bankruptcy Attorneys and Lawyers at Weller Legal are also equipped to represent you in more complicated aspects of Bankruptcy including Adversary Proceedings to Discharge Student Loans, certain Taxes, and other styles of Creditors that are ordinarily difficult to remove, even through Bankruptcy Proceedings. For our Clients in Madeira Beach, our Law Office is conveniently located at 25400 US 19 North, in Clearwater, in Suite 150. Our Office is located on the West Side of US 19 North, directly across from Dimmit Chevrolet and Cadillac. If you are in Debt, considering Bankruptcy, or just seeking some Solution, please call Weller Legal Group today at 727-539-7701 or Toll Free at 1-800-407-3328. The Bankruptcy Attorney will be able to speak with you directly, regarding whatever problem with Debt you may have. --- - Published: 2024-07-16 - Modified: 2025-04-02 - URL: https://www.jayweller.com/bankruptcy-attorney-new-port-richey/ Why is a Bankruptcy Attorney at Weller Legal Group in New Port Richey the best Bankruptcy Attorney you can go to? Because a Bankruptcy Attorney at our New Port Richey Florida office is attuned to the needs of the community of New Port Richey. Jay Weller and many Bankruptcy Attorney at Weller Legal Group has been serving the New Port Richey community since 1993. There has always been a Bankruptcy Attorney from New Port Richey serving the people of New Port Richey. New Port Richey Florida is a special place and each Bankruptcy Attorney at our Bankruptcy Law Office knows that. The people of New Port Richey Florida are a good and resilient people and each Bankruptcy Attorney at our Law Office knows that also. You may need to file Chapter 7 Bankruptcy. You may need to file Chapter 13 Bankruptcy. You may need a Bankruptcy for your business or yourself as an individual. A Bankruptcy Attorney with our office gladly will sit down with anyone from the New Port Richey Florida community to discuss Bankruptcy and whether Bankruptcy is the right option. Every Bankruptcy Attorney in our New Port Richey Office is experienced and knowledgeable in Bankruptcy. Every Bankruptcy Attorney in our New Port Richey Office specializes in Bankruptcy. A Bankruptcy Attorney in our office whether it is New Port Richey or another office is likely the best if not one of the best among Bankruptcy Attorneys in the New Port Richey area. There are numerous types of Bankruptcy including Chapter 7 Bankruptcy which is sometimes called a Straight Bankruptcy or a Straight Liquidation. There is also a Chapter 13 Bankruptcy which is sometimes called a Debt Consolidation or a Debt Reorganization or a Wage Earners Plan. There is also a Chapter 11 Bankruptcy which is often called a Corporate Bankruptcy or Debt Reorganization. A Chapter 11 Bankruptcy is usually reserved for Corporations that need to reorganize their Debts or an Individual that needs to reorganize his Debts but has Debts exceeding more than one million dollars. Not matter the type of Bankruptcy you need to file a Bankruptcy Attorney at our Bankruptcy Law Office can assist you and any of your friends or neighbors in the New Port Richey area. Contact Us If you live in New Port Richey our office is in New Port Richey and is conveniently located on US 19 in New Port Richey Florida. Please call our office for a free and friendly consultation with Jay Weller or a Bankruptcy Attorney with our Bankruptcy Law Office. Our number is 1-800-407-3328. Please call today. The Bankruptcy Attorney in New Port Richey will gladly meet you free of charge to discuss the possibility of filing Bankruptcy and whether Bankruptcy is the right answer. Please call our office to meet with the Bankruptcy Attorney at our New Port Richey Law Office. For any Veterans we offer a Veterans Discount to all Veterans and Military Personnel to all our Veterans in New Port Richey as an appreciation to... --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-attorney-services-in-brooksville-florida/ Brooksville Bankruptcy Attorney Jay M. Weller has been assisting and representing the good residents of Brooksville, Florida since 1993. Mr. Weller only represents individuals and small businesses in bankruptcy proceedings, primarily Chapter 7 bankruptcy and Chapter 13 bankruptcy. Since 1993, Mr. Weller has represented thousands of clients from Brooksville, Florida, and the greater Hernando County area and community. The bankruptcy attorneys, paralegals, and professionals at Weller Legal Group, PA are experienced and knowledgeable in most matters relating to Chapter 7 and Chapter 13 bankruptcy. The attorneys and paralegals are also trained and knowledgeable in our many programs that are alternatives to bankruptcy. Such programs include foreclosure defense, settlements, tax and loan workouts, budgeting programs, credit counseling, credit repair, and wealth enhancement. For our clients who either work or reside in Brooksville, Florida, or its near vicinity, our office is conveniently located. Generally, you will meet with Mr. Weller personally. Mr. Weller will analyze your entire situation, as it relates to the particular issues confronting you. He will offer solutions. At Weller Legal Group, if you are experiencing financial difficulties, then we can help. Call today for a consultation with Mr. Weller, without charge or obligation. For our clients in Brooksville and Hernando County, you may contact us through our website or by calling toll-free at 1-800-407-3328. Image credit: Wikipedia --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-attorney-st-petersburg-fl-2/ ST PETERSBURG BANKRUPTCY ATTORNEY A St Petersburg Bankruptcy Attorney that is knowledgeable and experienced can be found in Mr. Jay Weller and the Bankruptcy Attorneys at Weller Legal Group PA. Mr. Weller began practicing bankruptcy law in 1993. Throughout his legal career, he has represented debtors, and never creditors, in bankruptcy proceedings. Chapter 7 bankruptcy and Chapter 13 bankruptcy filers are the majority of the Clients represented by Mr. Weller and Weller Legal Group. Our office is conveniently located to most of our clients in the St Petersburg, Florida community. Weller Legal generally has an office near to where you work or live. The Bankruptcy Attorneys and Paralegals at Weller Legal are experienced and knowledgeable in most matters related to bankruptcy law. Weller Legal Group is considered by many to be one of the last remaining, reputable law firms with a concentration in the representation of debtors in bankruptcy matters, serving the St Petersburg, Florida area. Weller Legal Group has been involved in a number of important court decisions that have either expanded or maintained certain protections of debtors in bankruptcy proceedings. Among the population that comprises the Middle District of Florida, Tampa Division, which includes St Petersburg, Florida, Weller Legal Group is considered by many in the legal community to be the premier law firm representing debtors in bankruptcy matters. If you live in St Petersburg or its surrounding region, and need the services of a reputable Bankruptcy Attorney, then Mr. Weller is here to help you. When you contact our office, Mr. Weller will generally speak with you directly. He will ask you detailed and salient questions relating to your particular issues with debt. After fully analyzing your case, Mr. Weller will suggest a strategy or strategies to address the issues relating to debt. If you are living in St Petersburg or the greater Tampa area, please contact our Bankruptcy Attorneys and Paralegals today, at 727-539-7701 or 1-800-407-3328 (DEBT). You may also contact us through our website. Thank you. --- - Published: 2024-07-16 - Modified: 2024-07-16 - URL: https://www.jayweller.com/bankruptcy-lawyer-clearwater/ If you need a good Bankruptcy Lawyer in Clearwater, Florida then where to go? If you live in Clearwater, Florida where is the best rated Bankruptcy Lawyer or Lawyers? If you need to file Bankruptcy then where to file if I live in Clearwater, Florida? Since 1993, many of the residents of Clearwater, Florida have chosen Jay Weller and Weller Legal Group as the first Lawyers to call when in need of a Bankruptcy Lawyer. If you are looking for a reputable and competent Bankruptcy Lawyer in Clearwater, Florida then please call Jay Weller, Bankruptcy Lawyer, at Weller Legal Group, for a friendly and free consultation. Clearwater, Florida is the main location and Law Office for our Bankruptcy Lawyers and Paralegals since 1993. You can come to our Clearwater, Florida Law Office for a Free Consultation with the Bankruptcy Lawyer, at 25400 US Highway 19 North, Suite 150, Clearwater, Florida. Please contact our Bankruptcy Lawyer today for a Free Consultation at 727-539-7701. The Bankruptcy Lawyer will address the most important questions you may have about filing Bankruptcy? Do I need to file for Bankruptcy? What are the different types of Bankruptcy? How much does Bankruptcy cost? How does Bankruptcy work? What are the effects of filing for Bankruptcy? If I file Bankruptcy, how does it affect my credit? How can I repair or improve my credit if I file for Bankruptcy? When you come to our Clearwater, Florida Law Office, the Bankruptcy Lawyer will tell you that although there are many different types of Bankruptcy, the most common types of Bankruptcy filed are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. The Bankruptcy Lawyers can explain that a Chapter 7 Bankruptcy will generally Discharge or eliminate Unsecured Debts such as Medical Bills, Credit Card Debts, Signature Loans or Unsecured Bank Loans, and some Tax Debts. Whether these Debts can be eliminated or Discharged depends upon many factors which the Bankruptcy Lawyer can explain. A Chapter 13 Bankruptcy is also called a Debt Reorganization, a Debt Consolidation, or a Wage Earners Plan. Chapter 13 Bankruptcy is usually used to consolidate Debt, stop Foreclosure, stop Wage Garnishments, and to reduce a Debtor’s Debt into one monthly payment or obligation. The Bankruptcy Lawyers at Weller Legal Group are also equipped to provide Non-Bankruptcy Programs and Alternatives, that allow our Clients to avoid filing Bankruptcy. If you live in Clearwater, Florida, or the Clearwater area, please do not hesitate to contact our Bankruptcy Lawyer for a Free Consultation. Weller Legal Group, the Bankruptcy Lawyers for Clearwater, Florida since 1993. --- - Published: 2024-07-12 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy-attorney-st-petersburg-fl/ ST PETERSBURG BANKRUPTCY ATTORNEY A St Petersburg Bankruptcy Attorney that is knowledgeable and experienced can be found in Mr. Jay Weller and the Bankruptcy Attorneys at Weller Legal Group PA. Mr. Weller began practicing bankruptcy law in 1993. Throughout his legal career, he has represented debtors, and never creditors, in bankruptcy proceedings. Chapter 7 bankruptcy and Chapter 13 bankruptcy filers are the majority of the Clients represented by Mr. Weller and Weller Legal Group. Our office is conveniently located to most of our clients in the St Petersburg, Florida community. Weller Legal generally has an office near to where you work or live. The Bankruptcy Attorneys and Paralegals at Weller Legal are experienced and knowledgeable in most matters related to bankruptcy law. Weller Legal Group is considered by many to be one of the last remaining, reputable law firms with a concentration in the representation of debtors in bankruptcy matters, serving the St Petersburg, Florida area. Weller Legal Group has been involved in a number of important court decisions that have either expanded or maintained certain protections of debtors in bankruptcy proceedings. Among the population that comprises the Middle District of Florida, Tampa Division, which includes St Petersburg, Florida, Weller Legal Group is considered by many in the legal community to be the premier law firm representing debtors in bankruptcy matters. If you live in St Petersburg or its surrounding region, and need the services of a reputable Bankruptcy Attorney, then Mr. Weller is here to help you. When you contact our office, Mr. Weller will generally speak with you directly. He will ask you detailed and salient questions relating to your particular issues with debt. After fully analyzing your case, Mr. Weller will suggest a strategy or strategies to address the issues relating to debt. If you are living in St Petersburg or the greater Tampa area, please contact our Bankruptcy Attorneys and Paralegals today, at 727-539-7701 or 1-800-407-3328 (DEBT). You may also contact us through our website. Thank you. --- - Published: 2024-07-12 - Modified: 2024-07-12 - URL: https://www.jayweller.com/thank-you-for-your-submission/ We will be in touch with you shortly var body = document. body; body. classList. add("thanks-page"); --- - Published: 2024-07-08 - Modified: 2024-07-12 - URL: https://www.jayweller.com/schedule-free-consultation/ Fill out the Schedule Free Consultation Form or give a call to Tampa Bay Bankruptcy Lawyer Jay Wellers main office in Clearwater for more information about our services and how we can help you today. Subject of InquiryBankruptcyCollection ViolationsSettlementsLoan ModificationForeclosure DefenseCredit RepairCredit CounselingStudent LoanOther --- - Published: 2024-07-03 - Modified: 2025-03-28 - URL: https://www.jayweller.com/locations/ Clearwater Bankruptcy Law Office Clearwater 25400 U. S. 19 North, Suite 150Clearwater, FL 33763E-mail: JWeller@WellerLegalGroup. com Phone: (727) 539-7701Toll free 1-800-407-DEBT (3328)Fax: (727) 524-3850 Lakeland Bankruptcy Law Office Lakeland 1543 Lakeland Hills Blvd, Suite 1Lakeland, FL 33805 Phone: (863) 802-5505 Port Richey Bankruptcy Law Office Port Richey Truist Bank 9501 U. S. Highway 19, Suite 210Port Richey, FL 34668 Phone: (727) 375-9378 Tampa Bankruptcy Law Office Tampa 4100 W. Kennedy Blvd, Suite 208Tampa, FL 33609 Phone: (813) 229-3328 Weller Legal Group attorneys provide bankruptcy services for residents of following cities of Tampa Bay FL area: St. Petersburg, Beverly Hills, Largo, Safety Harbor, Palm Harbor, Dunedin, Crystal River, Citrus Springs, Lecanto, Inverness, Homosassa. --- - Published: 2024-07-03 - Modified: 2024-07-12 - URL: https://www.jayweller.com/contact/careers/ If you are a Paralegal or Attorney seeking employment please fill out the form below completely and we will be happy to review your credentials. Position You Are Seeking*AttorneyParalegalOther Please Upload Your Resume --- - Published: 2024-07-03 - Modified: 2025-04-02 - URL: https://www.jayweller.com/bankruptcy_lawyer/chapter-7-bankruptcy/ A Chapter 7 Bankruptcy is also called a Straight Bankruptcy or a Chapter Seven Liquidation. In a Chapter 7 Bankruptcy, the debtor seeks to Discharge or eliminate, all his dischargeable debts. These debts usually include credit cards, medical bills, signature loans, repossessions, old utility and phone bills, and other unsecured debts. The debtor in a Chapter 7 Bankruptcy can usually keep his Homestead and his automobile provided he makes the full monthly payment. If the Chapter 7 debtor decides to surrender these properties, he can do so in full satisfaction of the debt through the Chapter 7 Bankruptcy. A debtor may not qualify for a Chapter 7 Bankruptcy due to numerous considerations. If a debtor exceeds the allowable income for his family size, as determined by the Means Test, he probably does not qualify for a Chapter 7 Bankruptcy. A Chapter 13 Bankruptcy may be his option. If a debtor’s assets exceed those permitted by the Bankruptcy Exemptions, he usually qualifies to file a Chapter 7 Bankruptcy. However, those assets may be subject to sale or liquidation by the Chapter Seven Bankruptcy Trustee. If the debtor wishes to protect those assets, he may file a Chapter 13 Bankruptcy, and pay the amount by which he exceeds his Bankruptcy Exemptions, through the Chapter 13 plan. Other considerations may prevent a debtor from filing a Chapter 7 Bankruptcy, including heavy usage of credit cards, cash advances, and what are referred to as fraudulent transfers or conveyances. The Chapter 13 Bankruptcy may be the best option in these circumstances. What Is The Concept Of Redemption In Chapter 7 Bankruptcy? Section 722 of the Bankruptcy Code governs Redemption in a Chapter 7 Bankruptcy. Redemption permits the Debtor in a Chapter 7 Bankruptcy to pay a Secured Creditor the value of its Secured Claim, in full satisfaction of the Debt. The remaining Unsecured Claim is Discharged through the Chapter 7 Bankruptcy. In order to Redeem Property in a Chapter 7 Bankruptcy, the Property must be: Primarily for Personal, Family or Household use; From a Lien Securing a Non Dischargeable Household Debt; Exempted under Section 522 of the Bankruptcy Code OR Abandoned under Section 444 of the Bankruptcy Code When May A Chapter 7 Bankruptcy Be Dismissed? Section 707 of the Bankruptcy Code governs Dismissal of a Chapter 7 Bankruptcy. Various factors can lead to the Chapter 7 Bankruptcy being Dismissed by the Bankruptcy Court, including the Non Payment of Fees required to be paid in the Chapter 7 Bankruptcy, and Unreasonable Delay that is Prejudicial to Creditors. In A Chapter 7 Bankruptcy, What Is A Conversion? Bankruptcy Code Section 706 governs Conversion in a Chapter 7 Bankruptcy. Under Bankruptcy Code Section 706(a) the Bankruptcy Debtor may Convert the Chapter 7 Bankruptcy Case to a Chapter 13 Bankruptcy, a Chapter 12 Bankruptcy or a Chapter 11 Bankruptcy, provided the Chapter 7 Bankruptcy was not already Converted from any of the fore mentioned Bankruptcies. Upon the Request of a Party In Interest, the Bankruptcy Court may Convert... --- - Published: 2024-07-03 - Modified: 2025-04-02 - URL: https://www.jayweller.com/bankruptcy_lawyer/chapter-11/ Chapter 11 Bankruptcy is so named because its elements are contained in Chapter 11 of the United States Code for Bankruptcy. An Individual, a Corporation, Partnership or Sole Proprietorship may file a Chapter 11 Bankruptcy. The majority of Debtors, however, that file Chapter 11 Bankruptcy are Corporations. It is relatively uncommon, for example to find an Individual who must file a Chapter 11 Bankruptcy because the Debt Limits for a Chapter 13 Bankruptcy are approximately 1. 2 million dollars. Not many Individual persons are able to amass that large amount of Debt. In a Chapter 11, in most examples, the Debtor retains control of its business and operations, as a Debtor In Possession. The Debtor In Possession in a Chapter 11 Bankruptcy has the ability to obtain new financing and loans by offering those Creditors first priority on the earnings of the business. In addition, the Debtor In Possession in Chapter 11 Bankruptcy may Reject Leases, and enjoy protection of the Automatic Stay, which prevents Creditors from harassing or generally attempting to Collect on the Debts subject to the Chapter 11 Bankruptcy. In Chapter 11 Bankruptcy, there is a Period Of Exclusivity. The Period Of Exclusivity is the period of 120 days from the date of the filing of the Chapter 11 Bankruptcy in which the Debtor has an opportunity to propose a plan to the Bankruptcy Court. No other Party during that 120 day period may propose a plan. Hence, its title. If the Debtor proposes a Plan during the 120 day period, then there is granted an additional 180 days in which the Debtor is given the opportunity to attempt approval and confirmation of the proposed plan. The Creditors will be given an opportunity to vote on the plan. Even if one or more Creditors do not agree on a plan, the plan may still be approved on Confirmed, based upon varying criteria. The final arbiter is the Bankruptcy Judge. In terms of how Creditors are paid, the Rules of Chapter 11 Bankruptcy are the same as those followed in Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. These are referred to as the Priorities. Generally, Administrative Expenses are paid first. These expenses include employee wages and attorney fees. Secured Creditors are paid and then Unsecured Creditors are paid. Taxes, as in a Chapter 13 or Chapter 7 Bankruptcy can be classified as Priority, meaning they are paid before the Secured Creditors, Secured and Unsecured, depending on varying criteria of age, type, and other classifications. When Debtor files Chapter 11 Bankruptcy, stock of its Corporation usually is delisted on numerous stock exchanges. This includes the New York Stock Exchange, NASDAQ, and the American Stock Exchange. Numerous business owners in the Tampa Bay area will ask me if they should file Chapter 11 Bankruptcy. My advice is generally no. The business owner may need to file Bankruptcy, but generally other Chapters of the Bankruptcy Code provide better relief to such business owners. Many times a small business owner will operate... --- - Published: 2024-07-03 - Modified: 2025-04-02 - URL: https://www.jayweller.com/bankruptcy_lawyer/chapter-12/ In order to qualify to file Chapter 12 Bankruptcy, the Debtor must be a Family Farmer or Fisherman. This means the Debtor must be engaged in a farming or commercial fishing enterprise. Furthermore, the Chapter 12 Bankruptcy Debtor must derive more than 50% of his or her gross income from Farming or Fishing efforts. More than 50% of the Debts incurred by the Debtor in Chapter 12 Bankruptcy must be incurred by the Farmer must be related or derived from his Farming Operations. For a Fisherman, 80% of the Debts must be on account of his Fishing Operations. As opposed to a Chapter 13 Bankruptcy, The Debtor in a Chapter 12 Bankruptcy may be not only an Individual, but a Corporation or a Partnership. However, Partnerships or Corporations are not eligible to file Chapter 12 Bankruptcy unless at least 50% of the Stock or Equity Interests are owned by a single family. The concept was to assist the Family Farmer, as the Law states. Chapter 12 Bankruptcy For Family Farmers And Fishermen Chapter 12 Bankruptcy is fashioned specifically for Family Farmers and Fishermen. Although Chapter 12 Bankruptcy is mostly similar to Chapter 13 Bankruptcy, there are some differences, primarily in the Debt limits the Debtor may have and qualify to file a Chapter 12 and Exemptions that may benefit the Chapter 12 Debtor more thanfarmers_and_fishermen1 the Chapter 13 Debtor. farmers_and_fishermen1Chapter 12 Bankruptcy is so named because it refers to Chapter 12 of the 11th Title of the United States Code. Chapter 12 Bankruptcy is a Chapter of the Bankruptcy Code, such as Chapter 11 Bankruptcy, Chapter 7 Bankruptcy and Chapter 13 Bankruptcy are Chapters of the Bankruptcy Code. There is even a Chapter of the Bankruptcy Code for Municipalities. Chapter 12 Bankruptcy is one of the more rare Bankruptcies that are filed. Only 637 Chapter 12 Bankruptcies were filed in 2011, a year in which over 1. 4 million Bankruptcies were filed. A Debtor in Chapter 12 Bankruptcy may have total Debts of $4,031,575 for Family Farmers and $1,868,200 for Fishermen. These Debt Limits are the limits as of 2014 and may be subject to change. These Debt Limits are also greatly more than the limits usually available in Chapter 13 Bankruptcy. If the Family Farmer of Fisherman exceeds the above Debt Limits, then he must either file a Chapter 11 Bankruptcy or Reorganization, or a Chapter 7 Bankruptcy or Liquidation. If one files a Chapter 12 Bankruptcy or Chapter 11 Bankruptcy, he is seeking to reorganize his Debt under his existing Enterprise or Corporation. If the Debtor files a Chapter 7 Bankruptcy that means that usually he is seeking to liquidate the existing Corporation or Enterprise and possibly also Liquidate some of his Assets. This does not necessarily mean that the Debtor cannot continue in his chosen efforts, as a Fisherman or Farmer. Similar to a Chapter 13 Bankruptcy, in a Chapter 13 Bankruptcy the Debtor will continue his operations in Farming or Fishing without interference from the Trustee.... --- - Published: 2024-07-03 - Modified: 2025-04-02 - URL: https://www.jayweller.com/bankruptcy_lawyer/chapter-13/ Bankruptcy Code Section 1321 requires that any debtor in a Chapter 13 Bankruptcy must file a plan. A Chapter 13 plan describes how the debtor intends to pay his various creditors in his Chapter 13 Bankruptcy. Section 1322 of the Bankruptcy Code defines what the Chapter 13 Bankruptcy plan must include. Section 1322(a) states that priority creditors must receive full payment through the Chapter 13 plan, unless the holder of the particular claim agrees to different treatment. Section 1322(a)(2) provides that similar claims must receive similar treatment under the plan. This is referred to as the principle of nondiscrimination, meaning all creditors that are the same, must receive the same treatment in the Chapter 13 Bankruptcy plan. Section 1322(a)(3) provides that a Chapter 13 plan may pay less than the full balance of a priority claim if the plan provides that all of the debtor’s projected disposable income for a five year period is applied to the plan. A debtor may have many different categories or classifications of debts. A tax debt may be classified as a priority debt, a secured debt, or an unsecured debt, depending on various criteria. A debtor may have an automobile loan, which is usually both a secured and unsecured debt. Credit cards, medical bills, and signature loans are usually unsecured debts. Obligations owed to various governmental entities, criminal fines, child support and alimony, and other debts, all are different categories of debt. These debts all must be treated differently through the Chapter 13 Bankruptcy plan. Some of these debts must be paid in full, some at reduced principal, and some debts are paid at reduced interest or no interest, depending on their classification. In A Chapter 13 Bankruptcy, May An Order Of Confirmation Be Revoked? Bankruptcy Code Section 1330 states that within 180 days after the entry of the Order of Confirmation, a Party In Interest may request that the Bankruptcy Court Revoke the Confirmation Order, if such Order was obtained by Fraud. In A Chapter 13 Bankruptcy, May The Debtor Modify The Bankruptcy Plan After Confirmation? Bankruptcy Code Section 1329 states that at any time after Confirmation of the Chapter 13 Plan but before completion of payments under the Chapter 13 Plan, the Debtor, the Trustee, or an Unsecured Creditor, may Modify the Chapter 13 Plan to:Increase or Reduce the Payments on Claims to a particular class of creditors provided for in the Chapter 13 Plan;Extend or Reduce the time of such Payments under the Chapter 13 Bankruptcy;Reduce the amount that the Debtor in the Chapter 13 Bankruptcy pays through the Plan in order that the Debtor may purchase Health Insurance for himself or his Dependants. How Often May A Bankruptcy Debtor Receive A Discharge In A Chapter 13 Bankruptcy? Bankruptcy Code Section 1328(f) a Debtor may receive a Discharge in a Chapter 13 Bankruptcy provided the Debtor DID NOT receive a Discharge in a Chapter 7 Bankruptcy, a Chapter 11 Bankruptcy or a Chapter 12 Bankruptcy during the Four Year Period preceding... --- - Published: 2024-07-02 - Modified: 2025-04-02 - URL: https://www.jayweller.com/alt-bankruptcy/loan-modification/ What is a loan modification? A Loan Modification is a permanent change in one or more of the terms of a Borrower’s loan. Often times, the payment amount is lowered to a payment the Borrower can afford by extending the loan, lowering the interest rate, and possibly a principal reduction. The Borrower may only receive one Loan Modification within a twenty four month period. At Weller Legal Group, an Attorney will guide you through the Loan Modification process and help you prepare and submit your paperwork. Mortgage Modification Mortgage Modification is defined as a process wherein the Mortgage terms are changed or modified from their original terms, subject to the agreement of the borrower and the lender. Among the terms that can be altered by a mortgage modification include monthly payments, interest rates, and principal balances. In a loan modification, the borrower may received a reduction in the interest rate being charged pursuant to the mortgage. The interest rate may further be changed from a variable to a fixed rate, and the method of calculating the interest can be changed. The lender may also agree to the reduction of late fees and penalties, to lengthening the term of the loan, or fixing the monthly payment to the borrower’s household income. The lender may agree to a forbearance. Depending on the lender, the borrower may need to be either delinquent or current in order to receive a loan modification. Every lender seems to have different standards regarding the borrower’s ability to qualify for a loan modification. Please consult with Mr. Weller before embarking on such a pursuit. There are many pitfalls. Modifying Loans Through The H. a. m. p. Home Affordable Modification Program (HAMP) The Home Affordable Modification Program or HAMP, was created pursuant to the Financial Stability Act of 2009. The intention of HAMP was to create similar standards and guidelines to the many available loan modification programs offered by lenders. As of the writing of this article, the Home Affordable Modification Program (HAMP) had certain requirements. Only loans that originated or began before January 1, 2009 are eligible along with first lien mortgages on owner occupied dwellings with mortgage balances less than $729,750. Owner occupied dwelling with two to four units have higher mortgage limits. The HAMP Program contains many different and changing rules and procedures and incentives. In some cases, a homeowner is eligible to lower his monthly payments. HAMP shares with the investor or lender, the costs of such reduction. That means that the taxpayers subsidize the cost of lowering the monthly payment. The HAMP Program also contains incentives to lenders to forgive second mortgages, and for modifying loans. --- - Published: 2024-07-02 - Modified: 2025-04-02 - URL: https://www.jayweller.com/alt-bankruptcy/foreclosure-defense/ The Attorneys at Weller Legal Group are dedicated to trying to help you save your home. Foreclosure Defense encompasses a variety of different strategies. Weller Legal Group offers a free Foreclosure Consultation to review your case and provide all the information necessary to make an informed decision. In order for a banking institution to Foreclose on a home and repossess the property, it must have a Note, Endorsements, Mortgage and Assignments. If the bank cannot prove ownership, they cannot Foreclose. If the bank has all their paperwork in order, it may request an Order to Show Cause and proceed to Summary Judgment. The homeowner may be entitled to Mediation while in Foreclosure. Weller Legal Group will represent any Client who desires to enter Mediation with the Foreclosing Bank. We will attempt to Mediate or Modify your mortgage to obtain more favorable terms, such as reduced monthly payment and interest, principal reduction of mortgage balance, and waiver of past due amounts What Are Some Procedural Defenses Available to Homeowners Facing Foreclosure? Does The Mortgagor Have A Status That Entitles Them Protection? Protections are available for U. S. service members. The Servicemembers Civil Releif Act offers limitations on foreclosures on properties owned by active duty service members. It limits the ability for Lenders to get default judgments, and requires Lenders to provide written notice of the SCRA’s mortgage-relates provisions. Has The Lender Failed To Comply With Florida Foreclosure Law? Florida is a judicial foreclosure state. All foreclosure actions must go through the Florida courts. Florida foreclosure procedures are laid out in Fla. Stat. § 702. 01-. 11. A foreclosure complaint under Chapter 702 requires the Lender to state the factual basis for why it is entitled to enforce the mortgage note, it must detail a clear chain of endorsements, assignments, and transfers of the note and mortgage, and the Lender must include exhibits demonstrating its allegations. Florida Rules of Civil Procedure 1. 110 requires the complainant verify the complaint, under penalty of perjury, that the facts alleged in its complaint are true and correct to the best of its knowledge. Has The Lender Improperly Enforced A Due On Sale Provision Due on sale provisions grant the lender the ability to call the debt as due upon the sale of the mortgaged property to a third party. This provision is included in almost all mortgages and is usually enforced whenever the property changes hands. These types of provisions are usually governed entirely by the terms of the contract. Has The Mortgagee Waived Requirements By Past Behavior? Regarding acceleration of debt by lender, and foreclosure defense; Notes and mortgages usually include a provision giving the holder of the note and mortgage the right to accelerate the debt. Often this provision states that failure to pay a monthly payment is a default and it gives the holder the right to accelerate the balance of the debt as due immediately. This requires the mortgagor be sent a notice of acceleration, accompanied with a notice of default.... --- - Published: 2024-07-02 - Modified: 2025-04-02 - URL: https://www.jayweller.com/alt-bankruptcy/credit-repair/ Increasing your Credit Score After Bankruptcy Over the years we have found that there are actually two parts to the completion of your fresh start. The first is to file Bankruptcy which enables your debts to be forgiven. The second is to repair your credit. The filing and Discharge of your bankruptcy will ensure that Creditors will not collect from you anymore. However, they are not required by law to report accurately on your credit report unless asked to do so. Any lender in the future that pulls your credit bureau may see inaccurate information that could end up costing you thousands of dollars in interest or may even cause you to be denied credit. Please refer to our chart below to see an example of how credit repair can save you costly monies in interest. Beacon ScoreLoan AmountInterest RateMonthly PaymentInterest Paid550-600$200,00012%$2,057. 23$540,601. 07600-650$200,00010%$1,755. 14$431,851. 53600-650$200,0008%$1,467. 53$328,310. 49650-up$200,0006%$1,199. 10$231,676. 38 Benefits of Credit Repair: With credit repair your Beacon score can increase dramatically. For example, if your Beacon score is 600 without credit repair and your score increases to 650 after credit repair, your savings with credit repair on a $200,000 mortgage would be approximately (2) two percentage points (8% versus 10%). You would save approximately $103,541. 04 in interest and your monthly mortgage payment would be $287. 61 less. Don’t deny yourself good credit after bankruptcy. If you wish to increase your credit score please contact Morgan DiGiorgio at 800-407-3328 so that she can further explain how we can help you repair your credit and increase your credit score. Credit Repair and Alternatives to Bankruptcy There are alternatives to bankruptcy such as creditor and debt settlements. Our firm can assist you in settling debts for pennies on the dollar and possibly the negotiation of deleting the derogatory information from your credit files upon settlement. Repairing your credit while increasing your credit score may save you a significant amount of money in interest, a more favorable credit history, and better odds of obtaining prime loan terms. Call our office at 800-407-3328 for a free telephone consultation regarding any derogatory, negative, or inaccurate items you may have on your credit report to learn how we can help. How Does Credit Repair Work? Does Credit Repair Work? Much like debt settlement, credit repair services offer a mixed result of legitimate credit repair groups and others who are best characterized as charlatans. Some credit repair companies promise to erase bad credit with a 100% guarantee or remove past bankruptcies, judgments or liens. While it is true that in certain cases, past judgements or bankruptcies may be remove from a credit report, to make such a guarantee is irresponsible and dishonest. Credit repair is an effort that one may take on his own. If a bankruptcy is eligible to be removed from a credit report, the credit reporting agency or agencies will typically remove such a remark, upon proper documentation or approach, regardless of whether a credit repair company or the individual himself makes... --- - Published: 2024-07-02 - Modified: 2025-04-02 - URL: https://www.jayweller.com/alt-bankruptcy/credit-counseling/ In 1998, Weller Legal Group created Julian Credit Counseling Service, a Non Profit 501(c)(3) Organization, to help its Clients avoid Bankruptcy, and consolidate their Debts. Because Julian Credit Management is a Non Profit Organization, designated by the Internal Revenue Service, we are able to obtain certain concessions from the Creditors. These concessions include lower interest rates, lower monthly payments, re-aging of Accounts, waiver of late fees, over limit fees and penalties, and an adjustment in how interest rates are charged. All Credit Cards and other Debts are consolidated into one monthly payment paid to Julian Credit Management. Payment may be made by Cashiers Check, Money Order, or Electronic Funds Transfer (direct debit). Julian Credit then places these funds into a Trust Account and pays each individual Creditor. Credit Card interest is reduced on average to zero to six per cent. In addition, the interest paid to Creditors is further reduced because the amount owed is amortized over fifty two to sixty months. In addition, the Credit Counseling program allows the Client to have his or her Accounts re-aged. This means that after three to six payments, the Account will be brought current on his or her Credit Report. What Is Credit Counseling? Weller Legal Group has a sister corporation named Julian Credit Management, which Jay Weller formed in 1998 to provide another avenue to consolidate debts other than Bankruptcy. Julian Credit is a 501(c)(3) Non Profit Organization licensed by the Internal Revenue Service to provide Credit Counseling Services. Credit Counseling involves numerous programs. The Debt Consolidation program enables a debtor to consolidate his credit cards at reduced interest and reduced monthly payments. On average, the Debt Consolidation program through Credit Counseling can reduce the interest charged on a credit card to six (6) to seven (7) percent. The monthly credit card payment can usually be reduced twenty five (25) to forty (40) percent. The debtor makes one payment monthly to Julian Credit, the monies are deposited into a Trust Account maintained by Julian Credit, and then are distributed to the creditors per the agreed terms. In addition, the Credit Counseling program allows the debtor to recalculate the manner in which the interest is assessed. A credit card company will assess interest on usually a daily basis on the debtor’s balance. In Credit Counseling, the interest is amortized, like an automobile loan, over a fifty two (52) to sixty (60) month period. By recalculating the method in which interest is assessed, the Credit Counseling program greatly reduces the amount of interest paid to the creditor. For example, if a debtor owes $20,000 on his credit cards, is paying 18% interest, and is making a minimum payment of 3% of the balance, it would take 24 years and 3 months to pay off his credit cards. The total money he would pay his creditors would be $39,698. 45. If the same debtor was making a minimum payment of 2% of the balance, it would take 62 years and 5 months to pay... --- - Published: 2024-07-02 - Modified: 2025-03-17 - URL: https://www.jayweller.com/bankruptcy_lawyer/general-bankruptcy-attorney-florida/ At The Jay Weller Legal Group one of our primary areas of practice is bankruptcy law and work hard to help our clients understand their options. A lot of the clients we help have questions about the bankruptcy process, so we’ve put together a video FAQ section to help you understand your options and how bankruptcy through a Bankruptcy Attorney from Weller Legal Group can help you. Jay Weller has dedicated his entire professional career as an attorney in the representation of clients who are in debt. Since 1993, he has represented over 40,000 persons in both Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Weller Legal Group not only represents debtors in Bankruptcy. For persons in debt, we offer a myriad of services, including Credit Counseling, Settlements, Credit Repair, Mortgage Mediation & Modifications, Credit Harassment, Foreclosure Defense, Debt Consolidation, Consumer Protection litigation, Taxpayer issues, and other programs designed to help debtors. Mr. Weller has been instrumental in many important decisions and precedents in the Bankruptcy Court. He was one of the first attorneys to successfully remove a second mortgage from his clients’ Homesteads in Florida. He also was the first attorney to allow debtors to retrieve certain properties seized by creditors, through the filing of Bankruptcy. Weller Legal Group and Jay Weller are dedicated to the representation of debtors and the retention and expansion of debtors’ rights in the Bankruptcy Court. Click through the videos below to learn more about each general bankruptcy topic. What Defenses Are Available To The Bankruptcy Estate Under Bankruptcy Law? Section 558 of the Bankruptcy Code is titled, Defenses Of The Estate. According to this Section of the Bankruptcy Code, the Bankruptcy Estate has available any Defense that is available to the Debtor that is available to any Entity other than the Bankruptcy Estate, including Statutes of Limitation, Statutes of Fraud, Usury and other Defenses. Even if the Debtor in Bankruptcy waives such Defenses, the Bankruptcy Estate can still bring such Defenses. What Does Abandonment Mean In Bankruptcy Law? WHAT DOES IT MEAN IF THE BANKRUPTCY TRUSTEE ABANDONS PROPERTY OF THE ESTATE? Section 554 of the Bankruptcy Code is titled, Abandonment Of The Property Of The Estate. Bankruptcy Code Section 554 states that after Notice and a Hearing, the Bankruptcy Trustee may Abandon any Property of the Bankruptcy Estate that is Burdensome to the Bankruptcy Estate or is of Inconsequential Value and Benefit to the Estate. For example, a Bankruptcy Debtor may have an Asset that is not protection by an Exemption in Bankruptcy, but the costs to Administer that Asset are prohibitively high, and will not render a significant distribution to the Unsecured Creditors. The Bankruptcy Trustee may elect, and should elect, in such a circumstance, to Abandon that Asset, and not seek its Liquidation What Is A Creditor’s Right To Setoff? HOW DOES THE BANKRUPTCY CODE TREAT THE CONCEPT OF SETOFF? Section 553 of the Bankruptcy Code is titled, Setoff. A Creditor generally has a Right to Setoff of any Debt owed to that Creditor by the Debtor.... --- - Published: 2024-05-31 - Modified: 2024-07-19 - URL: https://www.jayweller.com/about-us/ Tampa Bay Bankruptcy Lawyer, Jay Weller My name is Jay Matthew Weller and I am a bankruptcy lawyer. I have practiced bankruptcy Law and have served the Tampa Bay community since 1993. I received my Undergraduate Degree in Legal Studies from the State University at Buffalo in 1990, and my Law Degree, or Juris Doctorate, from the University of Akron, in 1993. While at the University of Akron Law School, I specialized in bankruptcy law. The curriculum included Bankruptcy Law, Secured Transactions, Advanced Secured Transactions, UCC Law, and other studies devoted to the practice of Bankruptcy Law. After graduation from law school, I moved to the State of Florida, and luckily my first position as an Attorney was at a bankruptcy law firm. Under the mentorship of some of the better bankruptcy lawyers in the State of Florida, I learned about every aspect of bankruptcy law. Eventually, I became the Litigation Attorney for this law firm, handling cases both simple and complex. After leaving that law firm, I started my own professional practice and have been in private practice for the majority of my professional life. My Bankruptcy Law Firm, The Weller Legal Group, is now one of the largest bankruptcy law firms in the State of Florida. We have grown from a small one room office to much larger organization with three bankruptcy law offices in Tampa Bay, including Clearwater, Port Richey, and Lakeland. We have filed over 40,000 bankruptcies. Although I initially began practice solely as a Tampa Bay bankruptcy lawyer, I felt it important that my clients have other avenues in which to address their debt issues, other than bankruptcy. In 1998, I began a sister program called Julian Consumer Credit Counseling, or Julian Credit Management. Julian Credit is a 501(c)(3) Non Profit Agency designed to help persons avoid bankruptcy, and consolidate their credit cards and other debts into one monthly payment, with reduced interest and reduced monthly payment obligation. Julian Credit, as a non profit agency, also provides counseling to the community, including housing assistance, budget counseling, and information regarding fuel, food and other assistance programs. For those unable to pay for such services, these services are provided free of charge. We also represent many of our clients in debt settlement matters. A debt settlement is usually a one-time lump sum payment to a creditor in full satisfaction of a debt. The settlement can involve credit card debt, medical bills, tax debts, and almost any other type of debt obligation. Many of our clients have also solicited our services in Mortgage Mediation, Credit Repair, Creditor Harassment matters, Foreclosure Defense, Consumer Protection litigation, Taxpayer issues, and other matters relating to the resolution of a difficulty involving debt or creditors. If you are in debt, Weller Legal Group probably has a solution. One of the most frustrating experiences one endures is being in debt. When one is in debt, it often preoccupies his thoughts. The stress of having debt is the number one reason persons in the United... --- - Published: 2024-05-31 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy_lawyer/ Answers From A Bankruptcy Lawyer At Jay Weller Legal Group we provide our clients with the best bankruptcy law guidance for a variety of bankruptcy law services. We have been practicing bankruptcy law since 1993 and have helped more than 40,000 clients in both Chapter 7 Bankruptcy and Chapter 13 Bankruptcy throughout Florida. To find out more information about bankruptcy law, read through our bankruptcy law questions and videos. Here most of your questions are answered directly from a bankruptcy lawyer with The Weller Legal Group. • General Bankruptcy Law Information• Chapter 7• Chapter 11• Chapter 12• Chapter 13 Jay Matthew Weller has been a Bankruptcy Lawyer in the Tampa Bay Area since 1993. His entire professional career has been devoted to the representation of debtors in Bankruptcy and Debt related matters. He specialized in the study of Bankruptcy Law in law school. He has written numerous articles on the subject of Bankruptcy Law, has lectured, and attended many seminars on Bankruptcy matters. This focused dedication to the representation of debtors in Bankruptcy has given Mr. Weller a breadth of experience over last two decades that can promise the best possible result for his clients. Contact us or call us at 1-800-407-DEBT(3328) today for all of your legal needs. --- - Published: 2024-05-31 - Modified: 2024-07-12 - URL: https://www.jayweller.com/alt-bankruptcy/ Although the bad effects of Bankruptcy are often oversold or exaggerated in the popular media, and Bankruptcy, either a Chapter 7 Bankruptcy, Chapter 11 or Chapter 13 Bankruptcy, can remedy many problems for those confronted with overwhelming Debts, Bankruptcy is not always the best solution. At Jay Weller Legal Group we have many alternatives to Bankruptcy that assist our Clients who are confronted with Debts. In Florida, we have many distressed homeowners. For many of these homeowners, they have few outstanding Debts other than their Mortgage. Many have tried to negotiate with the Lender to attempt Loan Modifications other relief. For a homeowner facing Foreclosure, Jay Weller Legal Group is one of the pioneers in the area of Foreclosure Defense. When a homeowner receives Service of Foreclosure papers, he must act fast because he may receive a Default in as little as 20 days. A Default essentially waives any Defenses or Counterclaims the homeowner may have against the Lender, as well as allows the Lender to more rapidly Foreclose and take the house from the Borrower. Foreclosure Defense entails, as the name implies, Defending the Foreclosure on behalf of the Borrower or homeowner. A Foreclosure that is not defended may be taken from the Borrower of homeowner in as little as two or three months. Foreclosure Defense permits the homeowner not only to raise whatever Claims or Defenses he may have, some of which may have given rise to the Foreclosure in the first place. Second, Foreclosure Defense allows our office, with your participation, to attempt to secure a beneficial Mortgage Modification, that allows you to retain your home permanently, if you so choose. Depending upon whether your Mortgage is a Government Backed or Private Loan, our office has been successful in helping our Clients receive Loan Modifications. There are many types of Mortgages. Some Mortgages allow us to arrange Principal Reductions, and others not. Many Mortgages are eligible for lower monthly payments, reduced interest, and forgiveness. It is best to come to our office for a free consultation with Mr. Weller. Jay Weller Legal Group also helps many of our Clients through Settlements. There are numerous companies that advertise Settlements in which the Customer makes monthly payments and when enough money is accrued, the Settlement Company promises to disburse such monies by paying a one- time payment to that Creditor. Such payment is less than the Creditor is owed. However, the Creditor agrees to accept less than full payment, in Full Satisfaction of the Debt. The companies that offer Debt Settlement Services through this method are often-times fraudulent. For the companies that are not fraudulent, the method that they use to Settle Debts is flawed. Because such companies demand such a low monthly payment, relative to the Debt, by the time the customer makes enough payments to have sufficient money for Settlement, the Debt is so seriously delinquent that it often already has gone to an Attorney for prosecution of a lawsuit. The proper way to Settle an outstanding... --- - Published: 2024-05-31 - Modified: 2025-03-28 - URL: https://www.jayweller.com/contact/ Clearwater 25400 U. S. 19 North, Suite 150Clearwater, FL 33763E-mail: JWeller@WellerLegalGroup. com Phone: (727) 539-7701Toll free 1-800-407-DEBT (3328)Fax: (727) 524-3850 Lakeland 1543 Lakeland Hills Blvd, Suite 1Lakeland, FL 33805 Phone: (863) 802-5505 Port Richey Truist Bank 9501 U. S. Highway 19, Suite 210Port Richey, FL 34668 Phone: (727) 375-9378 Tampa 4100 W. Kennedy Blvd, Suite 208Tampa, FL 33609 Phone: (813) 229-3328 Fill out the Contact Us Form or give a call to Tampa Bay Bankruptcy Lawyer Jay Wellers main office in Clearwater for more information about our services and how we can help you today. Subject of InquiryBankruptcyCollection ViolationsSettlementsLoan ModificationForeclosure DefenseCredit RepairCredit CounselingStudent LoanOther Weller Legal Group lawyers provide bankruptcy services for residents of following cities of Tampa Bay FL area: Clearwater, Port Richey , New Port Richey, St. Petersburg, Largo, Safety Harbor, Palm Harbor, Dunedin --- - Published: 2024-05-31 - Modified: 2025-04-02 - URL: https://www.jayweller.com/alt-bankruptcy/collection-violations/ Federal Violations in Collection Practices The Federal Debt Collection Practices Act (FDCPA) provides protection to Consumers from debt collection violations and the abusive practices of Debt Collectors. The FDCPA is often used in combination with the Fair Credit Reporting Act. The FDCPA usually applies only to third party Debt Collectors, although many States have provision that protect against original Creditors. The FDCPA prohibits various debt collection violations including calling before 8:00 A. M. and after 9:00 P. M. , failing to terminate communication upon request, calling the Consumer continuously with the intent to harass, calling at the Consumer’s employment after being advised such calls are not acceptable, and contacting the Consumer after being notified he is being represented by an Attorney. Other debt collection violations prohibited under the FDCPA include using deceit to collect the Debt, such as representing one is an Attorney of law enforcement officer, publishing the Consumer’s name on a bad debt list, using profane language, and communicating with third parties, such as relatives, neighbors or friends. In addition, a Collector cannot seek amounts that are not permitted under the contract or relevant law, or threaten legal action or arrest, if such action is not permitted or contemplated. If the Collector violates any or a number of these provisions, the Collector may be liable for Statutory Damages of $1,000, plus Actual Damages, and reasonable Attorney fees. State Prohibitions Against Creditor Harassment Florida Consumer Collection Practices Act The Florida Consumer Collections Practices Act (FCCPA) is governed and enacted by Sections 559. 55 through Sections 559. 785 of the Florida Statutes. The Florida Consumer Collections Practices Act is Florida’s version of the Federal Consumer Collection Practices Act. The State and Federal Statutes are substantially similar with some differences. Florida Statute 559. 715 of the Consumer Collections Practices Act states that in collecting consumer debts, no person may simulate that he is a law enforcement officer or representative of a government agency, use or threaten to use, force or violence, or tell a debtor that he will disclose to others, information regarding the debtor’s credit problems. The person (collector) may not reveal the dispute regarding the debt to the debtor’s employer, prior to judgment. Once a judgment is entered against the debtor, the person or collector may reveal such information. The person or collector may not reveal to the debtor’s family information regarding the debtor’s reputation or creditworthiness, unless the receiving family member or members have a legitimate business need for such information. The person or collector also may not communicate with the debtor or her family with such frequency as can reasonably be considered harassment. The collector may not use obscene, profane or abusive language or attempt to collect a debt that is knowingly not legitimate. The collector may not issue a communication to the debtor that gives the appearance of being authorized by a governmental agency or an attorney, when neither is the case. The collector may not advertise for sale a debt as a method to coerce... --- - Published: 2024-05-31 - Modified: 2025-04-02 - URL: https://www.jayweller.com/alt-bankruptcy/settlements/ Tampa Debt Settlement Attorney How Do Debt Settlement Companies Typically Work? Typically, when a debtor contracts with a debt settlement company, the company will negotiate a lower amount for the debtor to pay on his credit cards, loans or other unsecured debts. Most debt settlement companies will ask the debtor to pay to the company, a monthly payment. The debt settlement company will take monies from this monthly payment to satisfy its fees, with the remainder available for payments to creditors. Once sufficient funds are acquired by the debt settlement company, the company theoretically will then pay the creditor in a lump sum settlement. The problem with this methodology is that the monthly payment is usually not significant enough to acquire sufficient funds to settle the debt within the time generally needed to obtain a settlement. Jay Weller and Weller Legal Group has been settling debts on behalf of its clients since 1993, over two decades. The optimum time to settle a debt is when the debtor is approximately eight months behind on his unsecured debts. The time period can change depending on the creditor, but eight months is a good basic period for successful settlements. Many debt settlement companies will require payments over much longer periods than eight months. Usually, by the time the debt settlement company obtains sufficient funds to settle the debt, the debt is so seriously delinquent that the account has been referred to an attorney for litigation. A litigating attorney is usually not amenable to a settlement, as his function is to consummate the lawsuit, and not to negotiate with a debtor. The other problem with many debt settlement companies is that not only is their methodology flawed, but many of these companies are fraudulent. There have been many instances of debt settlement companies that do not deliver what they promise, and further refuse to return any funds that are paid by the debtors. Many of these companies originate from California. A proper debt settlement is through a one –time, lump-sum payment. If the debtor does not have the funds to make such a payment, Mr. Weller will usually counsel against attempting a debt settlement. If the debtor is not able to settle his debts through such a payment, our office has many other programs that might benefit, such as Credit Counseling, Credit Repair, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and other programs. Weller Legal Group represents many Clients in Settlements of Debt. Our Tampa Settlement Attorney can Settle almost any type of Debt, including Credit Cards, Medical Bills, Taxes owed to the Internal Revenue Service, and other varieties of Debt. The Settlement usually involves a one-time payment to the Creditor, along with a concession from the Creditor that such Debt is fully satisfied, and reflected accordingly on his or her Credit Report. A Loan Modification may be beneficial . Lowering the homeowner’s monthly mortgage payment may liberate funds to pay credit cards or other loans. There are many ways to deal with the sometime... --- - Published: 2024-05-28 - Modified: 2024-10-02 - URL: https://www.jayweller.com/ Bankruptcy Attorneys Serving Clearwater, Port Richey, Lakeland & Tampa SEND US A MESSAGE Subject of InquiryBankruptcyCollection ViolationsSettlementsLoan ModificationForeclosure DefenseCredit RepairCredit CounselingStudent LoanOther About us Clearwater Bankruptcy Lawyer Jay Weller and The Weller Legal Group have been serving the Tampa Bay area (Clearwater, Port Richey, Lakeland, and Tampa) since 1993. We provide legal services to help consumers resolve debt issues. We are the only Law Firm in the Tampa Bay area that provides every service related to debt, including: Chapter 7 Bankruptcy Chapter 13 Bankruptcy Corporate Reorganizations through Chapter 11 Creditor Harassment Matters Settlements Loan Modifications Mediation Foreclosure Defense Credit Repair Our Mission is to provide our client with the best representation possible, in a manner both friendly and competent. Jay Weller Legal Group strives to give each client the best representation possible and to afford each client the honesty, dignity, and respect that they need and deserve in what may be a difficult time. A competent Clearwater bankruptcy lawyer at our firm will patiently analyze your entire case and suggest the best remedy for your current situation.  The Jay Weller Legal Group provides such a wide array of services that we are certain to have a program that will suit your needs. 7 CHAPTERBANKRUPTCY 11 CHAPTERBANKRUPTCY 12 CHAPTERBANKRUPTCY 13 CHAPTERBANKRUPTCY Alternatives to Bankruptcy Schedule A Free Consultation Our reviews Our locations Clearwater Office 25400 U. S. 19 North, Suite 150 Clearwater, FL 33763Phone: 727-539-7701Toll Free: 1-800-407-3328 (DEBT)Fax: 727-524-3850 Lakeland Office 1543 Lakeland Hills Blvd, Suite 1
Lakeland, FL 33805Phone: (863) 802-5505 Port Richey Office Truist Bank 9501 U. S. Highway 19, Suite 210 Port Richey, FL 34668Phone: (727) 375-9378 Tampa Office 4100 W. Kennedy Blvd, Suite 208
Tampa, FL 33609Phone: (813) 229-3328 View all blogs blog View all blogs --- - Published: 2024-05-28 - Modified: 2024-07-19 - URL: https://www.jayweller.com/contact/privacy-policy/ Protecting the privacy of your information is our priority. This Statement of Privacy applies to the JayWeller. com website and governs data collection and usage. By using the JayWeller. com website, you consent to the data practices described in this statement. Collection of your Personal Information We may collect personally identifiable information, such as your e-mail address, name, home or work address or telephone number only if you provide it to us in one of our online contact forms. If you purchase our services, we collect and store billing and credit card information. We may also collect anonymous demographic information, which is not unique to you, such as your Postal Code, age, gender, preferences, interests and favorites. We will not delete customer information for paying clientele unless explicitly asked to do so in writing. However, we reserve the right to delete customer information for clients at any time. Information about your computer hardware and software also may be automatically collected by JayWeller. com. This information can include: your IP address, browser type, domain names, access times and referring website addresses. This information is used for the operation of our services, to maintain the quality of our services, and to provide general statistics regarding use of the our website. Communications between you and a participating attorney are confidential. For quality assurance purposes, and in order to deliver JayWeller. com services, we will have access to your communications with participating attorneys. JayWeller. com encourages you to review the privacy statements of websites you visit so that you can understand how those websites collect, use and share your information. Use of your Personal Information JayWeller. com does not sell, rent or lease its customer lists to third parties. JayWeller. com may share data with trusted partners to help us perform statistical analysis, send you email or postal mail, provide customer support, or arrange for deliveries. JayWeller. com may share your information with third parties who perform tasks required to complete a purchase transaction. All such third parties are prohibited from using your personal information except to provide these services to JayWeller. com, and they are required to maintain the confidentiality of your information. JayWeller. com does not use or disclose sensitive personal information, such as race, religion, or political affiliations, without your explicit consent. --- --- ## Posts - Published: 2025-12-15 - Modified: 2025-12-15 - URL: https://www.jayweller.com/a-new-year-decision-should-you-file-for-bankruptcy-now-or-wait/ As the year comes to an end, many people in Clearwater start reviewing their finances and considering big choices that could affect their future. One thing to consider is whether to file for bankruptcy before the new year. When money is tight and you need to make a decision, this question often comes up. Every situation is different, but knowing what affects timing can help people make an informed choice. People seeking help from a bankruptcy lawyer can benefit from planning and getting professional advice that aligns with their long-term goals. Understanding the Role of Timing in Bankruptcy Decisions Bankruptcy is a legal way to get out of a lot of debt and start over with your finances. The decision to file is essential, but the timing of the filing can affect some parts of the process. It could change who can join specific chapters, how income is calculated, and how taxes or other financial events are handled. At the end of the year, many people review their finances more carefully. They get a clearer picture of their financial situation by examining their income, expenses, and debts. In some cases, filing before the new year may be a beneficial idea, while in others, waiting may be better. How Year-End Income Influences Bankruptcy Eligibility Income is an essential factor in deciding if someone can file for Chapter 7 bankruptcy. Part of the eligibility process involves reviewing household income over the last 6 months. Some people may qualify if they file before the end of the year because their recent income was lower or their average earnings decreased due to a seasonal change. On the other hand, if your income was higher this year but is expected to drop next year, waiting to file may help you qualify. A bankruptcy lawyer can look at income records to figure out the best time for the person to file for bankruptcy. Debt Accumulation and Spending Considerations The timing of bankruptcy may be affected by holiday spending or end-of-year costs. Before filing, courts look at financial activity, and spending that is out of the ordinary or excessive may be scrutinized more closely. Filing too soon after making big purchases can cause problems or make people wonder what you meant to do. If you have been in debt for a long time and it has nothing to do with seasonal spending, filing before the new year may help you avoid more interest or late fees. For some people, waiting until after the holidays may give them time to get their spending under control and make their financial records more straightforward. Tax Implications That May Affect Filing Decisions When you file your taxes at the end of the year, it can affect how tax refunds are handled during bankruptcy. In some cases, tax refunds expected for the next year may be considered part of the bankruptcy estate. Filing after the new year, when some tax obligations are already set, may lead to outcomes that are easier to... --- - Published: 2025-12-09 - Modified: 2025-12-09 - URL: https://www.jayweller.com/holiday-spending-concerns-can-seasonal-purchases-affect-a-bankruptcy-filing/ During the holiday season, many individuals increase their spending on gifts, travel, and family gatherings. For those who are already considering bankruptcy, these expenses can raise questions about how the court views seasonal purchases and whether they could affect a filing. Consumers often worry that a Clearwater attorney or bankruptcy lawyer will find that these charges create a perception of misconduct. It is helpful to understand how courts examine spending patterns and what steps individuals can take to prepare for a smooth process. How Courts Evaluate Holiday Spending Courts do not reject a bankruptcy filing solely because someone purchased gifts during the holidays. Instead, they consider the timing, amount, and intent behind the charges. The primary concern is whether the debtor made purchases without a reasonable expectation of repayment. If spending occurred while the individual was already planning to file, the court may examine the transactions more carefully. Holiday shopping is widely recognized as a seasonal custom. Modest purchases that align with past patterns or family traditions rarely raise concern. However, large or unusual charges may require a more detailed explanation. Courts consider whether these expenses appear to constitute a sudden departure from the person’s financial habits. Understanding the Concept of Presumed Misconduct Bankruptcy law includes a concept called presumed misconduct, which applies when luxury goods or services are purchased shortly before filing. The term refers to the appearance of improper intent rather than a conclusion. Gift giving is generally not categorized as luxury spending unless the items are exceptionally high-value. Courts consider whether the purchases serve a reasonable purpose. Courts generally view items such as clothing, household goods, and children's gifts differently from high-end electronics or expensive jewelry. If the court identifies purchases that raise questions, the debtor can provide documentation or context to address them. Receipts, statements, and explanations often help clarify the purpose behind the spending. What Debtors Can Do if They Are Concerned About Holiday Purchases Individuals who are concerned about their recent spending should gather their financial records and prepare to discuss them with their attorney. A detailed timeline of charges helps attorneys assess whether any items might be questioned. It is also helpful to demonstrate consistency with past holiday budgets. If a purchase was made for a reasonable family need, documentation can support that explanation. Avoiding additional credit charges before filing is also wise. Courts are more likely to examine spending when charges continue during the period immediately before a bankruptcy petition. How Attorneys Help Clients Navigate This Issue Experienced bankruptcy attorneys analyze spending patterns and help clients understand how the court is likely to interpret them. They provide guidance on documenting purchases and responding if a creditor challenges a charge. Attorneys also assist clients in determining whether to delay filing until recent charges fall outside the review window. Careful planning helps reduce uncertainty and supports a smoother process. Frequently Asked Questions Will the court automatically reject my bankruptcy if I spent too much at Christmas? No. Courts do not reject a case solely... --- - Published: 2025-12-01 - Modified: 2025-12-01 - URL: https://www.jayweller.com/holiday-spending-and-bankruptcy-what-shoppers-should-know/ The holiday season brings excitement, generosity, and the temptation to overspend. Between gifts, travel, and festive gatherings, many people enter the new year with credit card balances that feel overwhelming. As a bankruptcy attorney will explain, not every debt can be easily erased, especially those tied to recent purchases. Understanding the legal framework can help you make informed decisions before filing, especially if you've been wondering whether bankruptcy can forgive your holiday expenses. Understanding how bankruptcy treats recent purchases The goal of bankruptcy laws is to help honest debtors while also protecting creditors from those who abuse the system. The court looks at the timing, type, and purpose of big purchases you made just before filing for bankruptcy. If you file for bankruptcy and then buy luxury goods or services within the next ninety days, those debts may be considered fraudulent and not discharged. For instance, if someone buys expensive jewelry, electronics, or luxury vacations just before filing for bankruptcy, the creditor may question those purchases. We think of everyday costs like groceries and household supplies differently because they are necessary. The court wants to know if the purchases were made because the person needed the money or thought they could later get rid of them through bankruptcy. The difference between credit card debt and secured debt Credit cards are the most common way to pay for holiday purchases, and they are considered unsecured debt. In Chapter 7 bankruptcy, this kind of debt is usually dischargeable, which means you don't have to pay it back anymore once the case is over. However, frequent or recent use of credit cards before filing may raise concerns. The trustee might want proof that you didn't mean to make the charges. When you file for Chapter 13 bankruptcy, you agree to pay back your debts over three to five years. Your credit card debt may be lower or gone at the end of the plan, depending on your income and payments. Taking a close look at your spending before you file can help you avoid problems that could slow down your case. How to manage holiday debt before filing If you're considering bankruptcy, review your recent spending. Don't take on any new debt once you start thinking about filing. Hold off on making any significant purchases and aim to make the minimum payments on your current balances until you have consulted a lawyer. If you keep detailed records of your transactions, it indicates that you charged people in good faith. Talking honestly with your creditors is also a beneficial idea. Some companies may offer hardship programs or extensions on payments that make it easier for you to get your bankruptcy papers ready. Being open about things helps your case and shows the court that you are acting responsibly. Protecting your financial future Bankruptcy gives you a chance to start over. After your case is over, you can begin to rebuild your credit by paying your bills on time, monitoring your spending, and adhering to... --- - Published: 2025-11-10 - Modified: 2025-11-10 - URL: https://www.jayweller.com/holiday-debt-decisions-can-seasonal-spending-push-you-into-bankruptcy/ The holiday season brings joy, family gatherings, travel, and generous gift-giving. However, for many households in Clearwater, seasonal expenses can create financial strain when purchases accumulate beyond what credit limits and budgets can comfortably support. When balances begin to rise, individuals may wonder whether holiday debt can lead them toward legal relief through bankruptcy. Understanding how spending habits influence long-term financial outcomes is helpful when deciding whether to consult a bankruptcy lawyer for guidance. How holiday debt develops Typically, holiday debt arises from numerous small purchases rather than a single large one. Gift exchanges, dinners, travel expenses, decorations, and seasonal clothing all contribute to the monthly payments. Many people use credit cards, so balances can increase faster than expected, especially when interest rates are high. After the holidays, when regular bills resume, it can be challenging to keep track of these balances. Your monthly minimum payments increase as you use more credit, which adds to your financial stress. Failing to pay your bills on time can harm your credit report and result in collection activity. A timely meeting with a bankruptcy attorney or bankruptcy lawyer may help you figure out if your repayment options are workable. When holiday debt becomes unmanageable It can be challenging to pay off debt when your monthly income is insufficient to cover the payments. Even if you make regular payments, high interest rates can keep your balances from going down. Some people obtain extra credit cards to receive temporary relief, but their use often exacerbates their financial problems. When many accounts are used up, creditors may call more frequently, and late fees can accumulate. People may start exploring options to get out of debt, such as debt relief programs, consolidation options, or bankruptcy protection. A professional evaluation in Clearwater can help you determine which path will provide long-term stability and safety. Legal considerations for recent spending Courts scrutinize recent credit card purchases during bankruptcy proceedings. The courts seek to understand whether you made the charges in good faith. Courts may closely look at expensive purchases made just before filing. When considering filing for bankruptcy, it's best to keep your spending honest and reasonable. Responsible documentation often yields a positive outcome. When you file right after the end of the season, you might have questions about holiday travel, home improvement projects, or expensive electronics. Consulting with a bankruptcy lawyer can help you determine which purchases are typical and which ones may warrant further investigation. Understanding the difference between temporary strain and structural debt When you have holiday debt, it often adds to other financial problems you already have, like medical bills, car repairs, or lost income. Even small purchases during the holidays can add up to a bigger picture. When income remains the same but payment requirements increase, temporary fixes often fail to address the underlying issue. In these cases, bankruptcy may help by legally reorganizing debt. A professional review may help you determine whether adjustments to your budget and payment plans can help you get... --- - Published: 2025-11-03 - Modified: 2025-11-03 - URL: https://www.jayweller.com/joann-suppliers-sue-over-financial-misrepresentation/ A recent legal dispute involving Joann Stores has garnered national attention, highlighting the ongoing challenges that can arise from corporate bankruptcy proceedings. This case illustrates for Clearwater residents seeking insight from an experienced bankruptcy lawyer how post-bankruptcy actions can lead to new litigation when creditors believe they were misled. Understanding the facts surrounding this lawsuit and the broader legal principles can help individuals and businesses better navigate the bankruptcy process and its aftermath. Background of the Case The Wall Street Journal and Food & Wine report that suppliers to Joann Stores have sued the company, alleging that its executives misrepresented its financial situation. After emerging from Chapter 11 bankruptcy in January 2025, the lawsuits allege that Joann misled its creditors about the state of its finances. Suppliers claim that the company concealed its ongoing financial difficulties, resulting in nearly $40 million in unpaid bills for goods and materials. Earlier this year, Joann Stores, which is known for its nationwide fabric and craft supply business, completed a restructuring plan through Chapter 11. The plan aimed to maintain business operations, reduce debt, and establish new financial agreements. Some vendors, however, claim that the retailer's recovery wasn't as stable as initially reported, so they provided credit and shipped products without full payment. The Company’s Defense Joann refuted the allegations, asserting that the bankruptcy process had already addressed the suppliers' claims. The company’s legal representatives argue that the disputed invoices were included in liquidation sales and, therefore, are no longer subject to legal collection. This position is based on bankruptcy law principles that discharge certain pre-confirmation debts upon the court's approval of a reorganization plan. The defense makes a valid point about how bankruptcy law distinguishes between debts that were due before the bankruptcy and those that arise after it. The suppliers may have limited legal options if their claims pertain to debts owed prior to confirmation. However, if the plaintiffs can demonstrate that the plan changed after confirmation, the defendant might face liability. Because of this, the case could test how behavior after bankruptcy affects discharge protections. Implications for Creditors and Businesses This dispute shows the risks creditors face when working with businesses that have just emerged from bankruptcy. Chapter 11 allows a business to restructure and continue operating, but not every reorganization ensures that the company will be able to pay its bills in the long run. Creditors must carefully review financial disclosures and maintain detailed records of all communications, contracts, and bills. Companies that extend trade credit to businesses that have gone bankrupt should also consider implementing legal protections, such as requiring partial prepayment, shorter payment cycles, or obtaining collateral when possible. These strategies can help mitigate risk if a reorganized company fails to recover as planned. If you want to give credit to someone who has recently filed for bankruptcy, it is advisable to consult a bankruptcy lawyer first. They can help you understand your rights and the legal options available to you. The Role of Bankruptcy Attorneys An experienced... --- - Published: 2025-10-27 - Modified: 2025-10-27 - URL: https://www.jayweller.com/frequently-asked-questions-about-clearwater-bankruptcy-law-lessons-from-at-homes-chapter-11-filing/ Understanding the At-Home Bankruptcy Filing At Home, a Texas-based home-goods retailer with approximately 260 stores nationwide, filed for Chapter 11 bankruptcy protection on June 16, 2025. The company reported nearly $2 billion in debt and cited multiple pressures, including rising tariffs on Chinese imports and reduced consumer demand, as primary causes of its financial distress. According to public filings, At Home secured between $200 million and $600 million in debtor-in-possession financing to maintain operations during the restructuring process. The company also announced plans to close between 20 and 26 stores while seeking to reorganize its balance sheet by October 2025. The retailer’s situation provides an instructive example of how Chapter 11 bankruptcy functions and why both corporate and individual debtors seek its protections. What Is Chapter 11 Bankruptcy? Chapter 11 of the U. S. Bankruptcy Code allows businesses to reorganize their debts while continuing to operate. Chapter 11 differs from Chapter 7 because it doesn't involve the sale of assets. Instead, it provides you with a way to restructure your debts, renegotiate terms with creditors, and come up with a plan to obtain your finances back on track for the long term. This approach lets At Home keep working with suppliers, keep jobs, and keep serving customers while it changes how it does business to adapt to evolving market conditions. The court oversees the process to ensure that creditors and shareholders can see it and that it is fair. Why Do Companies File for Chapter 11 Protection? When a company's debts are more than it can pay off as they come due, it can file for Chapter 11. External factors such as economic downturns, supply chain issues, or changes in consumer buying behavior can worsen financial problems. At Home, higher tariffs made imported goods pricier, and a decline in consumer spending on non-essential items further hurt revenue. Chapter 11 allows management to put some debt payments on hold while they work out new repayment terms. It also helps businesses eliminate unprofitable operations, end leases that are too much work, and focus on their core strengths. How Debtor-in-Possession Financing Works In large bankruptcy cases, debtor-in-possession financing, or DIP financing, is crucial. It provides the funds needed to pay for payroll, inventory, and other business costs. While formulating the reorganization plan, Lenders are often willing to extend credit to a company in trouble because DIP loans take priority over other debts. At Home's estimated $200 million to $600 million in DIP financing indicates that the lender believes the company still has enough value to emerge from bankruptcy successfully. But this kind of financing usually comes with strict rules and oversight that dictate how you can use the money. The Broader Implications for Retail and Consumers At Home's bankruptcy shows that big stores are struggling with many issues. Over the past few years, consumer spending habits have changed a lot. Many families now put more value on necessities and experiences than on home decor and furniture. These pressures have worsened due to e-commerce... --- - Published: 2025-10-13 - Modified: 2025-10-13 - URL: https://www.jayweller.com/how-does-bankruptcy-affect-retirement-accounts-in-florida/ Understanding Retirement Accounts in Bankruptcy For many individuals in Clearwater facing financial hardship, one of the most common concerns is how bankruptcy will affect retirement savings. When people consider filing for bankruptcy with the help of a bankruptcy attorney or lawyer, they often worry about losing the funds they have built up over a lifetime of work. In Florida, retirement accounts receive significant protections under both federal and state law. However, the application of these protections depends on the type of account and the type of bankruptcy filed. Florida law often provides more generous exemptions than federal law; however, individuals must meet specific residency and ownership requirements to utilize these exemptions. Understanding how these protections work helps filers preserve their retirement funds while addressing their financial obligations through the bankruptcy process. Federal Protections for Retirement Accounts Most retirement accounts are safe from creditors during bankruptcy thanks to the Employee Retirement Income Security Act (ERISA). These are accounts that employers set up for their employees, like 401(k) and pension plans. These funds are not part of the bankruptcy estate under federal law, so they can't be used to pay off debts. This protection works regardless of the account balance, making it a very secure option for retirement savings. IRAs are also safe, but only to a certain extent. There is a limit on the amount of money you can contribute to a traditional or Roth IRA, set by the federal government. This limit is adjusted periodically to account for inflation. If your accounts exceed this limit, some of the funds may be considered part of the bankruptcy estate. However, most people's IRA balances are well below the exemption amount. These federal protections are in place in Florida, but the state may offer broader exemptions that are even better for residents. Florida-Specific Exemptions Florida law has its own set of exemptions that may offer greater protections than federal laws. When you file for bankruptcy, state law typically protects most tax-qualified retirement accounts, such as 401(k) plans, IRAs, and pension plans, from creditors. Most of the time, these funds are completely exempt, meaning they can't be used to pay off debts. Florida also offers generous homestead exemptions and other asset protections that can impact how retirement funds are handled when someone files for bankruptcy. To be eligible for these exemptions, individuals typically must meet residency requirements, which generally require them to have lived in the state for at least 730 days before filing. To ensure you are utilizing all your protections and exemptions correctly, it is advisable to consult a lawyer. Chapter 7 Versus Chapter 13 Considerations The kind of bankruptcy you file can also change how your retirement accounts are handled. In Chapter 7 bankruptcy, assets that aren't protected are sold to pay off debts. Liquidation typically has no effect on retirement accounts because federal and Florida law specifically exempt them from this effect. This lets people keep their retirement savings while paying off debts that qualify. The primary goal of Chapter... --- - Published: 2025-09-29 - Modified: 2025-09-29 - URL: https://www.jayweller.com/restructuring-on-the-menu-weight-watchers-bankruptcy-and-reorganization/ Weight Watchers, now branded as WW International, has long been one of the most recognizable names in the health and wellness industry. Recently, however, the company announced that it had filed for bankruptcy protection due to a heavy debt burden. This decision has raised many questions for consumers, creditors, and those who follow corporate restructuring. To help provide clarity, this article addresses the most frequently asked questions about Weight Watchers’ financial challenges and its path forward. For readers in Tampa seeking guidance from a bankruptcy attorney, this case also highlights valuable lessons about debt management and the legal protections available through the bankruptcy process. Why did Weight Watchers file for bankruptcy? Weight Watchers filed for bankruptcy because it had too much debt to handle. Over time, the business grew to include digital subscriptions, partnerships, and purchases. These changes were meant to make the brand more modern, but the costs and debt grew faster than the revenue. A decline in traditional program memberships and increased competition in the wellness and nutrition sectors further strained the company's financial stability. Instead of going out of business, bankruptcy provides the company with time to reorganize and communicate with its creditors. What does bankruptcy mean for Weight Watchers’ operations? Just because a business files for bankruptcy doesn't mean it's going out of business. Weight Watchers wants to keep running while it works on its restructuring plan in this case. The bankruptcy process is overseen by the courts, which allows the company to continue operating while it addresses its debts. The brand will retain its programs, digital products, and partnerships but will focus more on reducing costs and making services easier to use. What type of bankruptcy did Weight Watchers pursue? Individuals and businesses can file for bankruptcy under different parts of the Bankruptcy Code. Chapter 11 is the most common part for big companies to file under. Chapter 11 allows a business to reorganize its debts with the help of the court while continuing to operate its business. It is intended to provide businesses with time to renegotiate contracts, settle new debt terms, and develop a long-term recovery plan. Weight Watchers' filing follows this pattern, with the goal of reducing debt and positioning itself better to compete in a crowded market. How will creditors be affected? In a Chapter 11 case, creditors may have their repayment terms modified or even reduced in some instances. The bankruptcy court will oversee the negotiations to determine how to allocate the available resources. Secured creditors typically have priority, while unsecured creditors may only recover a portion of what they are owed. This means that lenders and business partners may have to agree to new terms that are more in line with Weight Watchers' expected revenues. Will customers see changes to the program? People who are in Weight Watchers programs may not see any immediate effects from the company's bankruptcy filing. The business has stated that it plans to continue offering services such as coaching, mobile apps, and dietary advice.... --- - Published: 2025-08-04 - Modified: 2025-08-04 - URL: https://www.jayweller.com/weathering-the-storm-how-hurricanes-milton-and-helene-fueled-financial-instability/ Recently, the Tampa Bay region has experienced a notable increase in personal and business bankruptcy filings. While many factors contribute to financial distress, natural disasters such as Hurricanes Milton and Helene have played a significant role in pushing already strained households and small businesses past the point of recovery. For those who found themselves unable to keep up with mounting debts in the aftermath, seeking the guidance of a knowledgeable bankruptcy attorney has become a necessary step toward regaining stability. Understanding how weather events contribute to financial disruption helps shed light on why bankruptcy filings tend to rise in the wake of large-scale disasters. Storm damage goes beyond property loss Physical devastation is the most apparent effect of any hurricane. Strong winds, flooding, and power outages cause damage to homes, destroy inventory, and delay services. The effects of hurricanes go well beyond insurance claims and repairs. Families that are displaced frequently have to pay for temporary housing, lose their jobs, and borrow more money to cover their basic expenses. Long wait times for claim settlements can affect even insured people, creating a temporary liquidity crisis. Hurricanes can stop operations for small business owners, particularly those in the retail, hospitality, or service sectors. Spoiled goods, damaged storefronts, and decreased customer activity cause weeks or months of lost revenue. While some companies can survive, others are compelled to use high-interest credit or postpone loan payments, both of which can result in insolvency if recovery is sluggish. Job loss and income instability compound the issue The job market itself is frequently disrupted in addition to property loss. Hourly or seasonal workers are particularly at risk because storms like Milton and Helene caused many restaurants, construction sites, and tourism-related businesses to close. People who were barely making ends meet ended up without any money during a period when costs were rising. As employers work to recover, even salaried employees may face short-term layoffs or reduced hours. Many families are now unable to pay for things like rent, auto payments, or credit card balances because of this abrupt shift in their financial situation. What begins as a short-term setback may eventually turn into long-term economic instability. Federal aid offers support, but is not a complete solution Even though state and federal disaster assistance programs provide some assistance, they frequently don't cover all losses. The scope of grants is usually restricted, and government loans increase the burden of preexisting debt. Families often receive aid months after the storm, by which point their debts have risen. Moreover, it's not always straightforward to apply for aid. Many storm victims struggle to complete the necessary paperwork, tests, and eligibility checks. So even those who qualify for help may get it too late to avoid falling behind. Bankruptcy as a path to long-term recovery After a natural disaster, filing for bankruptcy may be a sensible and legal way for people who are overburdened by debt to get back on their feet. Individuals and families can regain their financial stability by... --- - Published: 2025-06-30 - Modified: 2025-06-30 - URL: https://www.jayweller.com/restructuring-waves-why-major-chains-are-seeking-bankruptcy-relief/ The restaurant industry experienced a turbulent period in 2024 as high labor expenses, rising food costs, and shifting consumer behaviors led several well‑known chains to file for bankruptcy. For business owners within the Tampa Bay area facing similar pressures, the intervention of a skilled bankruptcy attorney may help guide them through restructuring or liquidation proceedings. In this article, we explore the background behind these corporate filings, the ongoing ripple effects into 2025, and how legal expertise may support local entrepreneurs navigating these challenges. A Changing Landscape in Labor and Food Expenses Wages in the service sector have increased over the past few years as competition for workers intensified, and minimum wage requirements have risen in the majority of states. Red Lobster and TGI Fridays, for example, experienced a rise in payroll as inflation led to an increase in the cost of commodity items, such as seafood, poultry, and produce. While margins were narrowing, most establishments could not sustain their profit rates without raising prices or implementing drastic cost cuts. The combination of higher payroll and procurement expenses outpaced the ability of most mid-size national chains to adapt effectively. Geographically driven cost pressures varied, but even the Tampa Bay market could face similar pressures. Local franchisees proposed price escalation and menu changes; however, their actions had a minimal impact on their businesses. Price escalation to customers consistently led to a decrease in visit frequency, especially for discretionary dining. Consumer Behavior Shifts Undermining Sales Consumer trends played a significant role in fast‑tracking the struggles of larger chains. Since the post‑pandemic period, consumers have adopted more selective spending habits. Many shifted toward independent restaurants that emphasize unique dining experiences or invest in high‑quality local ingredients. Others continue to favor fast-casual or takeout-oriented establishments for their convenience. Chains that historically relied upon casual dining atmospheres struggled to maintain relevance. Red Lobster, for instance, had to balance being perceived as low-priced with being positioned as a sit-down experience. This dichotomy constrained their ability to respond to changing market preferences. The higher price points, combined with dissatisfaction over perceived value, further eroded customer loyalty. Bankruptcy as a Strategic Restructuring Choice In 2024, it made the most sense for the survival of the Red Lobster and TGI Fridays chains to seek Chapter 11 protection. Through the bankruptcy courts, it's possible for a process of renegotiating leases, reorganizing debt, and taking cost-cutting actions under court supervision. While most locations remained open throughout the process, ownership arrangements and franchise agreements were usually renegotiated. Industry analysts caution that those steps will not result in full recovery unless a more fundamental realignment supports them. They foresaw profitability depending on rationalizing operations, adding value to food and service, and market concentration to restore customer relationships. With 2024 witnessing the beginning of restructuring efforts, the momentum continued well into 2025. Continued Restructuring and What Lies Ahead In the early part of 2025, observers reported that chains emerging from bankruptcy were still pursuing "right-sizing" initiatives. These entailed more store closings, staff reductions, and the... --- - Published: 2025-05-05 - Modified: 2025-05-05 - URL: https://www.jayweller.com/how-inflation-increases-bankruptcy-risk-for-those-in-debt/ The rising cost of living is having a significant impact on numerous American families. For families and individuals who are already struggling to make ends meet, inflation is more than just an issue. It is what may drive them into bankruptcy. For Port Richey residents struggling with debt and rising expenses, consulting a bankruptcy lawyer can be a wise step toward stability. Inflation and Its Effects on Everyday Life Inflation is a sustained increase in the prices of commodities and services over time. Money's purchasing power is reduced when prices increase, and individuals struggle to cover routine essentials. Moderate inflation can be a feature of a growing economy, but severe or sustained inflation has economically disruptive consequences. This means more money for groceries, utility bills, housing costs, and fuel. If pay does not keep pace, then disposable income is less for most families. For those already living paycheque to paycheque, they will resort to credit cards or loans to pay bills. What is a temporary survival strategy becomes long-term debt. When debt meets inflation Debt is usually manageable if people have stable incomes and low interest rates. However, inflation is often followed by a rise in interest rates. That turns previously accumulated debt costly. People with credit cards whose rates are subject to variation, as well as those with adjustable mortgages or personal loans, see their monthly installments skyrocket. In the meantime, other regular expenditures such as premiums and medical expenses rise along with inflation. With increased monthly installments, it is increasingly challenging to keep debt repayment on track. When there remains little or even no room in the budget to save and anticipate in advance, any unfavorable financial occurrence will land people in a vulnerable situation. The Psychological Cost of Financial Instability Financial stress does more than deplete bank accounts. It also affects emotional health. Most people avoid seeking help due to fear or embarrassment, or try to recover on their own. However, when inflation is rampant, financial affairs tend to spiral out of control sooner rather than later. The later you act, the fewer options you have. Warning signs of financial struggle may be missed payments, taking on additional credit through new borrowings, or falling behind on essential bills. Being aware of them early on will reduce long-term harm. Professional advice would eliminate uncertainty and provide reassurance in the event of doubt. Bankruptcy is a form of relief Bankruptcy is a court process designed to provide relief to individuals and families who are unable to continue repaying their debts. Bankruptcy is an opportunity to reorganize or eliminate part of the debt and put an end to collection calls, wage garnishments, and creditor harassment. For individuals whose financial struggles are exacerbated by inflation, bankruptcy can be a viable option for alleviating their financial burdens. Eligibility and outcome are determined by a series of factors, including income levels, types of debt, and asset value. A meeting with a specialist will decide if bankruptcy is indeed the best option or if... --- - Published: 2025-04-21 - Modified: 2025-04-21 - URL: https://www.jayweller.com/do-you-really-need-a-bankruptcy-lawyer/ Bankruptcy filing is a serious financial choice, and it may seem overwhelming for those in Tampa struggling with too much debt. The filing process can be a source of relief and uncertainty, regardless of whether it is medically related bills, loss of income, or too much credit card debt. One of the first things individuals will wonder is, "Do I need a bankruptcy lawyer? ” The answer depends on several factors, including your situation's complexity, comfort level navigating legal procedures, and financial goals moving forward. Understanding the process can quickly become overwhelming Bankruptcy law is governed by federal statutes and local court rules, making the process more than just paperwork. There are different types of bankruptcy. Chapters 7 and 13 are the most common for individuals, and each has its own qualifications, procedures, and outcomes. For instance, Chapter 7 entails selling some assets to pay off debt, while Chapter 13 establishes a three- to five-year repayment plan. Knowing which chapter fits your situation involves carefully examining your income, assets, debts, and recent financial activity. Without proper legal guidance, people risk taking the wrong route or leaving out essential documents that can result in the dismissal of their case. Precision is needed to avoid expensive errors Even computerized sources and kit packages are not a walk in the park. They are unable to give personalized advice. Bankruptcy forms require accurate, truthful disclosure of financial information. A single error, such as the failure to list a creditor or the improper valuation of an asset, can delay the process or result in the denial of relief. Moreover, self-represented filers may not know how to respond to motions from creditors or fully understand the impact of the automatic stay, which temporarily puts collections on hold. The court may also require hearings or trustee meetings, at which legal counsel can clarify your situation and protect your rights. Attorneys make professional work their business. Professional representation provides peace of mind Aside from the legality, a lawyer offers a guiding hand through what may be a stressful and emotional process. Bankruptcy is more than numbers; it is one's security and potential for the future. An attorney can address issues beyond paperwork, such as how bankruptcy will affect employment, whether or not one can retain a car, or how one can begin rebuilding credit after discharge. In most cases, having someone to explain things clearly and realistically will help to dissipate worry. Lawyers can also help identify roadblocks ahead of time, such as non-dischargeable debts or prior filings that may affect your eligibility. Their experience allows them to walk clients through those issues with a clear head and in a step-by-step manner. When would a person file without a lawyer? There are situations where individuals choose to file individually without a lawyer. If the case is straightforward, such as a no-asset Chapter 7 filing with few creditors and an uncomplicated financial history, it may be feasible without representation. However, even in these instances, the filer assumes total responsibility... --- - Published: 2025-04-07 - Modified: 2025-04-07 - URL: https://www.jayweller.com/choosing-between-debt-consolidation-and-bankruptcy/ When personal debt is no longer sustainable, the weight of financial obligation can be overwhelming. In such a situation, people will consider two distinct options: debt consolidation and bankruptcy. Both paths offer different avenues of relief, and it is important to know these distinctions to make an informed decision. For those in Clearwater looking for legal relief, a bankruptcy attorney can provide advice, especially when deciding whether Chapter 7 bankruptcy may apply to their situation. Learning Debt Consolidation as a Strategy Debt consolidation is a financial strategy that combines multiple debts into a single line of credit or loan. Typically, this is done to get a reduced interest rate, merge monthly payments, or extend payback periods to make debt less stringent in the long term. Individuals frequently use personal loans, balance transfer credit cards, or debt management plans offered by banks or credit counselors. Consolidation can be a relief for people who can still afford to pay each month but are overwhelmed with managing several creditors. The plus side is that it streamlines payments and reduces the interest paid. However, this route requires a steady income and a decent credit history since lenders may not be willing to approve consolidation loans for people with very questionable credit. Further, consolidation doesn't pay off debt—it merely rearranges it. Examining Bankruptcy as a Legal Relief Mechanism Bankruptcy, in contrast, is a court-monitored process of discharging or reorganizing debt. The most common type is Chapter 7, which allows qualified individuals to erase most unsecured debt, such as credit card and medical debt, usually in months. Rather than bankruptcy, debt consolidation cannot provide a fresh start by wiping out qualifying debts, but rather their reorganization. But it has legal, financial, and personal consequences. Bankruptcy filing can severely impact a credit report for up to ten years. Further, certain types of debt, including student loans or recent tax obligations, are usually not discharged in Chapter 7. Property may also be auctioned off based on the filer's assets and the exemptions available under state or federal law. In spite of its limitations, bankruptcy can be a safeguard legal solution for debtors unable to pay their debts. It could be the most expedient path for debtors who are being sued, wage garnished, or subjected to repeated creditor harassment. Who Is the Recipient of Each Alternative? Debt consolidation works best for people with moderate debt who are not in arrears and can pay off what they owe over time. It can be a creative solution for people who wish to avoid the long-term effects of bankruptcy and who qualify for better terms due to their creditworthiness. Comparatively, bankruptcy takes over when debt consolidation becomes an option—if one can no longer pay month after month or when creditors already send notices for aggressive collections. It even provides solace with an automatic stay, holding most collections off during bankruptcy. Long-Term Effects and Financial Recovery One of the most important differences between debt consolidation and bankruptcy is their long-term impact. Debt consolidation... --- - Published: 2025-03-17 - Modified: 2025-03-17 - URL: https://www.jayweller.com/bankruptcy-and-child-support-what-you-can-and-cant-discharge/ Bankruptcy can be stressful, especially regarding child support. To Tampa parents who are financially struggling, how bankruptcy impacts child support is fundamental in making sound decisions. Despite the relief it offers for other debts, child support is an obligation that is not dischargeable through bankruptcy. Understanding Non-Dischargeable Debt in Bankruptcy When you file for bankruptcy, you usually intend to cancel or reorganize debt to achieve financial wellness once more. All debts are not equal under bankruptcy law and treatment. Non-dischargeable debts are obligations that bankruptcy processes cannot eliminate. Such debts include taxes, student loans, spousal support, and child support. Child support is a priority debt in bankruptcy law. You must pay it in full regardless of what type of bankruptcy you are going through. Child support is treated as a requirement by the courts to ensure a child's well-being and is, hence, not dischargeable. Payments for child support won't be touched even if you wipe out other debts via bankruptcy. How Chapter 7 Bankruptcy Affects Child Support Chapter 7 bankruptcy allows for the liquidation of assets to pay off creditors. While the process can eliminate unsecured debt like credit card and medical debt, child support payments are not touched. Those debts will not be discharged if you owe back child support. One benefit of Chapter 7 is that it can free up funds by eliminating unsecured debt, which could allow you to continue paying child support more efficiently. But enforcement action on child support — such as wage garnishment and tax refund seizure — can still go ahead even when you are bankrupt. If you have child support arrears, the court can still insist that you pay them even after completing the bankruptcy case. How Chapter 13 Bankruptcy Impacts Child Support Chapter 13 bankruptcy involves creating a repayment plan in which you pay off debts within three to five years. As opposed to Chapter 7, Chapter 13 offers the means to pay up on accumulated child support payments in the future. However, you must continue to make regular child support payments as you work out the repayment plan. If you fall behind on a child support payment during the debt repayment period, it may risk your bankruptcy case. Courts may dismiss your case or allow creditors to start collecting again from you if you fall behind on child support payments. However, an ordered Chapter 13 plan can offer a structured means of paying off debt while continuing to make child support payments. Noncompliance with child support payments can have serious legal consequences. Even during a bankruptcy case, courts can enforce orders for child support through wage garnishment, liens on property, and tax refund seizure. Parents who significantly fall behind on child support payments can even face legal penalties, including incarceration. Child support enforcement agencies are independent of bankruptcy courts. This implies that bankruptcy will not halt or suspend child support enforcement proceedings. If your wages are garnished for unpaid child support, such garnishment will likely persist even after filing for... --- - Published: 2025-03-03 - Modified: 2025-03-17 - URL: https://www.jayweller.com/learning-about-the-end-of-the-means-test-for-chapter-7-bankruptcy/ A New Approach to Bankruptcy Eligibility In the past, filing for Chapter 7 bankruptcy has been a function of whether or not a client passed a means test, which is a test of their income and financial commitments. This test was put in place to prevent people from taking advantage of the bankruptcy system, and only those who needed it desperately should be able to get it. Nevertheless, many have complained that it places too many restrictions on the already afflicted. From the proposed changes in the bankruptcy law, the means test is proposed to be done away with, thus allowing people who fall under the lower income bracket to file for Chapter 7 without meeting other requirements. This shift is to uncomplex the process so that those in financial need can seek help without considering their income. This could mean a lot to many people in Tampa as it may give them a fresh start. How the Means Test Currently Works The means test was implemented as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. It aimed to distinguish between those who could pay some of their debts under Chapter 13 and those who needed a complete discharge of debts under Chapter 7. The test is based on the client’s income and the state's median income. If the earnings are below the state’s median, then the person is eligible for Chapter 7. However, for those above the median, further proceedings are required, which include living expenses and secured debts to establish eligibility. This extra step has the potential to extend the process and, for some, exclude them. Some low-income filers who should be permitted to receive relief under Chapter 7 have been compelled to accept Chapter 13 plans. This has caused frustration, delays, and, in some cases, people giving up the process because they cannot afford to pay the requirements. These obstacles are among the things that the proposed changes seek to unfasten to offer people a clearer path to financial rescue. Why Eliminating the Means Test Matters Bankruptcy is oftentimes the only way that individuals who are overwhelmed by debt can get a fresh start. The means test has been complicated and stressful for people with unpredictable or irregular incomes. As a result, the bankruptcy process will be less complicated. Those who need it most—those with medical debt, job loss, or other financial issues—will no longer have to worry about the means test standing in the way of them filing. This change is predicted to make the process easier and more straightforward for people to get a fresh start with minimal obstacles. This reform also has the potential to decrease the legal expenses that are associated with filing. The means test can sometimes require more documentation and legal services, which only serve to add to the burden of those who are already in financial difficulty. This means that without it, filing for bankruptcy could be more affordable, and more people may be able to... --- - Published: 2025-02-17 - Modified: 2025-02-17 - URL: https://www.jayweller.com/clearwater-sea-blues-festival-where-flavor-meets-sound/ Hey there, if you haven't yet checked out Clearwater, you’re completely missing something great! This relaxing spot on Florida's Gulf Coast is renowned for its sunny shorelines and hip cultural scene. Every year, Clearwater is transformed into that great hangout for music lovers and food enthusiasts thanks to the Clearwater Sea-Blues Festival. It’s a weekend of soulful blues music and delicious seafood that brings in fans from all over the state and beyond. The Thrum of Blues in Clearwater The Clearwater Sea-Blues Festival is one of those events you need to attend every year. It’s held in the lovely Coachman Park, and it’s got that great feel where smooth blues music blends just perfectly with that great ocean air. Everyone’s dancing to the beats of renowned blues legends while soaking up those gorgeous waterfront scenes that Clearwater is famous for. The festival always boasts a killer lineup of national, regional, and local bands. The blues legends share the stage with up-and-coming artists, playing classic favorites alongside new songs. The music isn’t just background music; it’s something that strikes a chord in you, something that brings you in touch with the true feel of Clearwater’s scene. A Gourmet Journey Down the Waterway And believe me, whilst the music is great, food at the Clearwater Sea-Blues Festival is something else. Food stalls erupt throughout the festival, offering a delicious range of seafood that perfectly embodies the coastal flavor of the place. Fresh fish, delicious shrimp, and fantastic crab are just the tip of the iceberg, plus all these fantastic combinations of favorites that get fans coming back year after year. Visitors can enjoy classic favorites such as seafood gumbo, fish tacos, and fried oysters or get a taste of something new that truly highlights local flavor. Every bite is a tribute to Clearwater’s great coastal food scene, combined with that cool blues music floating in the air. Or, if you’re in the mood for something new, there’s something else to enjoy, including seafood alternatives and sweets to accommodate everyone. Family-Friendly Atmosphere The Clearwater Sea-Blues Festival is highly family-friendly, inviting everyone of all ages, making it a great outing for all. The kids can get in on interactive fun, view displays of local artists’ work, or get their groove on that energetic music. The easygoing, open air of Coachman Park allows families to spread out and enjoy their fun and food. Since the festival is in the heart of Clearwater, visitors can easily check out other spots in the city. From the powdery, white sand of Clearwater Beach to the ocean wonders of the Clearwater Marine Aquarium, there are plenty of ways to extend the fun beyond the festival. Supporting the Local Community Not just a fun time and delicious food, the Clearwater Sea-Blues Festival also supports the local community. Many of the vendors are small local companies, and the festival frequently partners with local groups to support cultural and ecological efforts. So, in coming to visit, fans can feel good to know... --- - Published: 2025-02-03 - Modified: 2025-02-03 - URL: https://www.jayweller.com/mounting-credit-card-debt-in-america/ American citizens have been utilizing credit cards in record quantities in times and, in the process, have amassed a burden of consumer debt many cannot pay off. High living expenses, financial uncertainty, and the growing use of credit for living expenses have placed many in a desperate financial bind. As payments become unaffordable and compounding interest continues, bankruptcy is the sole option for a break. The availability and ease with which credit cards can be acquired allows citizens to overspend, underestimating, in many cases, the long-term result of a lingering balance. Most initially have a determination to pay off a charge in a timely manner but soon become a victim of minimum payments and growing interest fees. With an average level of credit card level of interest over 20%, even a relatively small balance can become a burden intolerable. Over a period of years, a debt initially in apparent control turns into a problem with no hope of ever being repaid. The Role of High Interest Rates in Building Debt Credit card high-interest rates have reached record highs, offering citizens fewer options for escape for financial servitude. Unlike fixed-interest loans, credit companies vary interest in terms of financial times, and most have increased rates proportionate to inflation. As a result, citizens with a monthly balance pay many times over for an initial, relatively small charge. Even those who make payments regularly have a problem chipping away at principal through high-interest payments. For a $10,000 at 25% APR, a cardholder can pay out a thousand in interest alone over several years' worth of payments. Most lenders place many in a position in which minimum payments fall short even of payment of interest, and principal payments go unpaid. That puts them in a position in a state in which debt lasts forever, sending them toward bankruptcy as a desperate alternative. The widespread use of Chapter 7 Bankruptcy For those no longer in a position to pay for credit cards, Chapter 7 bankruptcy is a tool for wiping out unsecured debt and a new beginning toward financial solidity. Bankruptcy through liquidation, a bankruptcy, allows discharge of most forms of consumer debt, including medical, credit card, and personal loans. Unlike Chapter 13 bankruptcy, in which payment schedule is a necessity, Chapter 7 bankruptcy brings a new beginning with no long-term financial burden. The procedure takes a matter of several months, with relatively quick freedom for spiraling payments. Most filers state that, with debts wiped out, a new beginning can begin, and rebuilding can occur with a view toward financial rehabilitation. As much as a bankruptcy will hurt a credit rating, long-term gain will oftentimes have a larger impact for many with spiraling high-interest payments. And, when bankruptcy is completed, no one can harass them with constant collection of phone calls, lawsuits, and wage garnishments for delinquent credit payments. The Psychological Impact of Financial Trouble Debt-related stress affects not only a person’s financial life but also their mental and physical life. Fear of not knowing... --- - Published: 2025-01-27 - Modified: 2025-01-27 - URL: https://www.jayweller.com/how-to-rent-with-bad-credit-in-tampa-bay/ Finding a rental property can be stressful enough, but if you’re dealing with bad credit, the process can feel overwhelming. Fortunately, Tampa Bay offers a range of options for individuals with less-than-perfect credit, and there are actionable steps you can take to improve your chances of securing the perfect rental. Here’s a guide to help you navigate the rental market in the Tampa Bay area and overcome the challenges associated with bad credit. 1. Understand Your Credit ReportThe first step is knowing where you stand. Request a free copy of your credit report from a reputable service, such as AnnualCreditReport. com. Review it for errors, and dispute any inaccuracies that could be dragging your score down. Understanding your credit history will prepare you to address potential concerns landlords may have. 2. Be Transparent with LandlordsHonesty can go a long way. Many landlords appreciate when prospective tenants are upfront about their financial situation. If you’re aware of past credit issues, explain the steps you’re taking to improve. Whether it’s paying down debt, attending credit counseling, or setting up a payment plan, demonstrating responsibility and a willingness to improve can build trust. 3. Offer a Larger Security Deposit or Prepay RentIf your credit score is low, consider offering a larger upfront security deposit or prepaying a portion of your rent. This demonstrates financial stability and reduces the landlord’s risk. Many Tampa Bay landlords may be open to negotiation if you can provide extra assurance. 4. Provide Strong ReferencesStrong references from previous landlords, employers, or even personal connections can help offset concerns about your credit. Tampa Bay landlords are often interested in a tenant’s reliability, so showcasing a history of on-time rent payments and responsible behavior can be compelling. 5. Find a CosignerEnlisting a cosigner with good credit can significantly improve your chances of approval. A cosigner agrees to take responsibility for the rent if you are unable to pay, providing landlords with an extra layer of security. Make sure your cosigner understands their role and agrees to the terms. 6. Look for Properties That Don’t Require Credit ChecksSome private landlords in the Tampa Bay area may not perform credit checks as rigorously as property management companies. Search for rentals managed by individuals, as they may be more flexible about credit requirements. Websites like Craigslist, Facebook Marketplace, and local Tampa Bay community boards are good places to start. 7. Highlight Steady IncomeIf your credit is less than ideal but you have a stable income, make it a focal point of your application. Proof of consistent earnings through pay stubs, bank statements, or a letter from your employer can reassure landlords that you have the means to pay rent reliably. 8. Seek Professional HelpIf your credit is significantly affecting your ability to rent, consider working with a professional credit repair service to address underlying issues. Improving your credit score can open doors to better rental opportunities in Tampa Bay and beyond. Super Credit Repair: Your Partner in Credit RecoveryFor residents in Clearwater, FL, struggling... --- - Published: 2025-01-20 - Modified: 2025-01-20 - URL: https://www.jayweller.com/what-can-you-not-do-after-filing-bankruptcies/ Filing for bankruptcy is a significant financial decision that relieves individuals struggling with debt. While it offers the opportunity for a fresh start, it also comes with restrictions and obligations that must be followed carefully. Understanding what actions to avoid after filing can help ensure a smoother process and prevent complications. Consulting a bankruptcy lawyer in Clearwater can provide tailored guidance for your situation. Avoid New Credit Obligations After filing for bankruptcy, one of the first things to avoid is taking on new debts. While applying for a credit card or loan may be tempting, it can raise concerns with the bankruptcy trustee. The court monitors your financial behavior closely during the proceedings, and acquiring new debt could indicate financial irresponsibility. Instead, focus on managing your existing financial obligations and rebuilding your credit responsibly. Do Not Hide Assets Transparency is a cornerstone of the bankruptcy process. You are required to disclose all your assets, income, and financial information. Attempting to hide assets or withhold information from the court can lead to severe consequences, including dismissal of your case or potential criminal charges. Honesty is non-negotiable when navigating bankruptcy, as it helps build trust with the court and ensures a fair resolution of your case. Avoid Large Financial Transactions Filing for bankruptcy means that your financial activities will be under scrutiny. The trustee can question large financial transactions, such as selling a property or making significant purchases. These actions may be viewed as attempts to divert funds or assets away from creditors, even if your intentions are genuine. If a considerable transaction is necessary, consult your bankruptcy attorney to ensure it complies with the court’s guidelines. Do Not Ignore Financial Education Requirements Depending on the type of bankruptcy filed, you may be required to complete financial counseling or a debtor education course. These courses are designed to help individuals better manage their finances moving forward. Failing to complete these requirements can delay the discharge of your bankruptcy or even result in the dismissal of your case. Taking these courses seriously is a step toward regaining financial stability. Avoid Co-Signing Loans Co-signing a loan for someone else after filing for bankruptcy is another action to avoid. When you co-sign, you assume responsibility for the debt if the other party cannot pay. This creates additional financial liability, which could conflict with the terms of your bankruptcy case. Instead, focus on stabilizing your finances before considering such commitments. Do Not Miss Payments on Non-Dischargeable Debts While bankruptcy can discharge many debts, some obligations remain, such as child support, alimony, and certain taxes. Missing payments on these non-dischargeable debts can have serious legal and financial consequences. Prioritize staying current on these obligations to avoid additional penalties or complications during bankruptcy. Avoid Filing for Bankruptcy Again Too Soon Bankruptcy laws place restrictions on how often you can file for relief. For instance, if you filed for Chapter 7 bankruptcy, you cannot file again for eight years from the date of your previous filing. Filing prematurely can... --- - Published: 2024-12-16 - Modified: 2024-12-16 - URL: https://www.jayweller.com/consumer-debt-why-more-people-are-turning-to-chapter-7-bankruptcy/ Consumer debt is becoming an increasingly burdensome challenge for many Americans in today's economy. Credit cards, personal loans, and other financial obligations are pushing individuals to their limits, leaving bankruptcy as one of the few options for relief. Chapter 7 bankruptcy, in particular, is gaining attention as it provides a fresh start by eliminating unsecured debts like credit cards and medical bills. In Tampa and across the nation, the rise in consumer debt is driving more people to explore this legal avenue to regain financial stability. The Rising Tide of Consumer Debt Consumer debt in the United States has reached record levels, with millions relying on credit cards and personal loans to cover everyday expenses. The Federal Reserve reports that credit card debt has surpassed $1 trillion for the first time, highlighting the growing dependency on borrowed funds. Like many other cities, Tampa's economic strain from rising costs for essentials such as housing, groceries, and healthcare has compounded this issue. People are finding themselves in a cycle of borrowing just to stay afloat. High interest rates and late fees worsen the situation, making it increasingly difficult to break free from debt. Why Chapter 7 Bankruptcy? Chapter 7 bankruptcy offers a lifeline for those overwhelmed by consumer debt. Unlike Chapter 13 bankruptcy, which requires a repayment plan, Chapter 7 provides the opportunity to discharge most unsecured debts entirely. This option particularly appeals to individuals with limited disposable income and few assets. By filing for Chapter 7 bankruptcy, debtors can legally erase obligations such as credit card balances, medical bills, and personal loans. This process allows them to rebuild their financial lives without the constant pressure of mounting debt. Individuals are turning to this solution to escape relentless creditor harassment and wage garnishments. Factors Driving the Rise in Chapter 7 Filings Several factors are contributing to the growing number of Chapter 7 bankruptcy filings. Inflation and Rising Living Costs. Inflation has driven up the cost of living, leaving many people unable to manage their monthly budgets. Essentials like rent, food, and utilities now consume much household income, leaving little room to pay off debts. High-Interest Debt. Credit card interest rates are at historic highs, often exceeding 20%. For those who can only afford the minimum payment, their debt continues to grow rather than decrease. Unexpected Financial Emergencies. Life’s unpredictability—whether in the form of medical bills, job loss, or car repairs—can quickly derail even the most financially prepared individuals. Many are forced to rely on loans and credit cards without adequate savings, exacerbating their debt problems. The Stigma Surrounding Bankruptcy is decreasing. In the past, filing for bankruptcy carried a heavy social stigma. Today, it’s viewed more as a practical step toward financial recovery. People increasingly recognize that Chapter 7 bankruptcy is a legitimate tool for achieving a clean slate. The Process of Filing for Chapter 7 Bankruptcy Filing for Chapter 7 bankruptcy involves several steps, beginning with determining eligibility through a means test. This test compares your income to the median income... --- - Published: 2024-12-02 - Modified: 2024-12-02 - URL: https://www.jayweller.com/how-chapter-7-bankruptcy-provides-a-path-to-relief/ Medical debt has become a growing burden for millions of Americans, pushing many to the brink of financial collapse. Clearwater residents are no strangers to this reality, as unexpected health issues and rising medical costs strain budgets. Hospital bills, emergency care, and ongoing treatments often lead to insurmountable debt. For those grappling with this financial challenge, Chapter 7 bankruptcy may provide a way to rebuild and regain control over their lives. Understanding the Medical Debt Crisis The medical debt crisis stems from several factors, including skyrocketing healthcare costs and inadequate insurance coverage. According to recent studies, over 60% of bankruptcies in the United States are tied to medical expenses. Even individuals with health insurance face substantial out-of-pocket costs for procedures, medications, and co-pays. Medical emergencies are unpredictable, leaving people unprepared to manage the financial aftermath. This often results in missed payments, mounting interest, and collections activity. These pressures can disrupt lives, affecting housing, credit scores, and emotional well-being. The cumulative weight of medical debt underscores the need for solutions beyond short-term fixes. How Chapter 7 Bankruptcy Works Chapter 7 bankruptcy allows individuals to discharge unsecured debts, including medical bills. Unlike Chapter 13, which involves a repayment plan, Chapter 7 focuses on liquidating non-exempt assets to pay creditors. However, most people who file under Chapter 7 qualify for exemptions that allow them to retain essential property, such as their home or car. To determine eligibility, individuals must pass a means test, which assesses their income against the median income for their state. Once qualified, the bankruptcy process typically takes three to six months to complete. During this time, creditors are barred from pursuing collection efforts, providing much-needed relief to those overwhelmed by medical debt. The Benefits of Chapter 7 Bankruptcy for Medical Debt One of the most significant advantages of Chapter 7 bankruptcy is its ability to eliminate medical debt. Unlike other debt-relief options, such as debt consolidation or settlement programs, bankruptcy offers a legal and permanent resolution. This allows individuals to focus on their financial and personal recovery without the constant stress of mounting bills. Working with a knowledgeable bankruptcy attorney ensures a smooth process. An attorney can help navigate the legal complexities, ensure accurate paperwork, and advocate for the best possible outcome. By leveraging their expertise, individuals can avoid common pitfalls and maximize the benefits of filing for Chapter 7. Rebuilding After Bankruptcy While Chapter 7 bankruptcy provides a fresh start, rebuilding financial stability requires careful planning. The bankruptcy will remain on a credit report for up to ten years, but its impact diminishes over time, especially with responsible financial habits. Many individuals find that their credit scores improve shortly after filing because unmanageable debts are removed from their records. Clearwater residents can create a realistic budget, set up an emergency fund, and use credit wisely. These practices help establish a stronger foundation for future financial health, enabling individuals to focus on long-term goals rather than past hardships. Seeking Guidance for a Better Tomorrow The medical debt crisis highlights... --- - Published: 2024-11-19 - Modified: 2024-11-19 - URL: https://www.jayweller.com/how-much-does-it-cost-to-file-for-bankruptcy/ Filing for bankruptcy can provide a fresh financial start, but it’s essential to understand the costs involved. Whether you’re dealing with overwhelming debt or trying to protect your assets, the expenses associated with bankruptcy filing can impact your financial strategy. This guide covers the primary costs and fees you might encounter, offering insight into the process. Consulting a bankruptcy attorney can help clarify local requirements and provide specific cost estimates for those considering filing in Lakeland, FL. Filing Fees and Costs for Different Bankruptcy Types Your first expense is typically the court’s filing fee when filing for bankruptcy. The type of bankruptcy you choose affects this cost. Chapter 7 and Chapter 13 bankruptcies are the most common options, each with its fee structure. Chapter 7 BankruptcyFiling for Chapter 7 bankruptcy costs approximately $335 in filing fees. This type of bankruptcy eliminates most unsecured debts, such as credit card debt or medical bills. While the filing fee is relatively low compared to other bankruptcy types, it may require additional legal assistance, which can increase overall expenses. Chapter 7 is often chosen by individuals without substantial income or assets, as it involves liquidating non-essential property to repay creditors. Chapter 13 BankruptcyChapter 13 bankruptcy has a filing fee of around $310. This type is designed for individuals with a steady income who wish to keep their assets. In a Chapter 13 bankruptcy, you agree to a repayment plan spanning three to five years, allowing you to reorganize your debts and pay creditors over time. Since Chapter 13 filings are more complex and time-consuming, legal fees can be higher than those for Chapter 7. Attorney Fees Bankruptcy attorney fees can vary significantly based on your case's complexity and location. In Lakeland, FL, the cost for a bankruptcy attorney’s assistance can range from $1,000 to $3,500, depending on the bankruptcy type and the specifics of your financial situation. Chapter 7 Attorney FeesFor Chapter 7 bankruptcy, attorney fees generally fall between $1,000 and $1,500. This service typically includes preparing your bankruptcy forms, filing them with the court, and representing you in meetings with creditors or the trustee. While some individuals choose to file Chapter 7 without an attorney, having professional guidance can simplify the process and help prevent costly mistakes. Chapter 13 Attorney FeesChapter 13 cases are more complex and often require more extensive legal assistance, with fees ranging from $2,500 to $3,500. This higher cost covers developing a repayment plan and working with creditors to ensure the plan meets court requirements. Some attorneys allow clients to pay a portion of their fees through the repayment plan, easing the immediate financial burden. Credit Counseling and Financial Management Courses Before filing for bankruptcy, you must complete a credit counseling course. This step is mandatory and costs between $10 and $50, depending on the provider. After filing, you must complete a financial management course before your debts can be discharged. This course costs between $15 and $50. These courses are essential for anyone seeking bankruptcy relief and are... --- - Published: 2024-11-04 - Modified: 2024-11-04 - URL: https://www.jayweller.com/what-is-wage-garnishment-understanding-the-process/ Wage garnishment can significantly impact financial stability, leaving many with fewer resources for day-to-day expenses. For those in Tampa dealing with wage garnishment, understanding how it works and how bankruptcy can provide relief may help you regain control over your finances. Understanding Wage Garnishment Wage garnishment occurs when a creditor legally requires your employer to withhold a portion of your earnings to repay a debt. Typically, garnishments result from unpaid debts such as credit card balances, medical bills, student loans, or taxes. When you fail to pay these debts, creditors can seek a court order to garnish your wages. For some individuals, this is an unexpected blow to their paycheck, leaving them with even less money to cover essentials like rent, utilities, and groceries. There are different types of wage garnishment, each depending on the type of debt involved. Common garnishments include those for child support, student loans, back taxes, and credit card or medical debt. In most cases, creditors must go through the courts to secure a wage garnishment order, but certain government debts, like back taxes or student loans, may bypass this process. The Impact of Wage Garnishment on Your Finances Wage garnishment takes a portion of your disposable income, the amount left after necessary deductions like taxes and Social Security. According to federal law, creditors can garnish up to 25% of your disposable income or the amount by which your income exceeds 30 times the federal minimum wage, whichever is less. Child support and alimony garnishments can take even more significant amounts, up to 50-60% of disposable income. For many individuals, losing even a small percentage of their paycheck can make managing other expenses challenging. It can lead to a cycle of debt, where individuals may rely on credit to cover basic needs, only to incur additional debt and potentially further garnishment orders. Steps Creditors Take to Garnish Wages Before creditors can garnish wages, they typically need to file a lawsuit against the debtor. If the creditor wins the case, the court issues a judgment allowing the creditor to collect what they are owed. After the decision, creditors request a court order for wage garnishment, which is then served to your employer. Some debts, such as taxes or federal student loans, may not require court approval for garnishment. Once the garnishment order reaches your employer, they must legally withhold a certain portion of your wages and send it directly to the creditor. Wage garnishment remains until the debt is fully paid off, a settlement is reached, or the debtor seeks relief through bankruptcy or other legal means. How Bankruptcy Can Help with Wage Garnishment in Tampa Filing for bankruptcy can provide a way to stop wage garnishment, offering a fresh financial start. When you file, an “automatic stay” is implemented. This stay immediately halts most collection efforts, including wage garnishment, and prevents creditors from taking further action to collect on outstanding debts. In Tampa, two main types of bankruptcy are available to individuals facing wage garnishment: Chapter... --- - Published: 2024-10-22 - Modified: 2024-10-22 - URL: https://www.jayweller.com/how-long-does-bankruptcy-chapter-7-last/ Filing for Chapter 7 bankruptcy can be a significant decision for individuals struggling with overwhelming debt. Understanding how long the process lasts is helpful for those considering this option. The timeline for Chapter 7 bankruptcy typically spans several months from start to finish, with the length varying based on individual circumstances. This article will summarize the timeline and what you can expect during each phase of a Chapter 7 case in Tampa. The Chapter 7 Bankruptcy Process: A Breakdown Filing the PetitionThe Chapter 7 process begins when you file a bankruptcy petition with the court. This step involves completing a comprehensive paperwork that discloses your financial information, including assets, debts, income, and expenses. After submitting your petition, the court will assign a trustee to oversee your case. Typically, this initial step takes one to two weeks, depending on how quickly you can gather the required documents and fill out the necessary forms. Automatic Stay and Creditor NotificationOnce your petition is filed, an automatic stay goes into effect. This prevents creditors from attempting to collect debts or take legal action against you. Creditors will be notified of your bankruptcy filing, which usually takes one to two weeks. During this time, your creditors are barred from contacting you, and all collection efforts, including wage garnishments and foreclosure proceedings, must cease. This can be a period of relief for many people as they work through the next steps of the bankruptcy process. Meeting of Creditors (341 Meeting)Within 20 to 40 days after your petition is filed, you’ll be required to attend a meeting of creditors, also known as the 341 meeting. This meeting is generally short and involves a bankruptcy trustee reviewing your financial situation. Creditors can attend this meeting, but it’s not common for them to do so. You’ll answer questions about your financial documents and bankruptcy petition during the meeting. The 341 meeting is usually quick, often lasting only 10 to 15 minutes. Trustee Review and Liquidation of AssetsAfter the 341 meeting, the trustee will review your case in greater detail and determine whether any non-exempt assets can be liquidated to pay off creditors. In many Chapter 7 cases, filers have little to no assets that can be liquidated, meaning their property will not be affected. If there are assets to be sold, the trustee will handle the liquidation process, which could add several weeks or months to the timeline, depending on the complexity of your case. Debtor Education CourseAs part of the process, you must complete a debtor education course before your debts can be discharged. This course focuses on managing your finances and preventing future debt issues. It must be completed within 60 days of the 341 meeting, and the certificate of completion should be filed with the court. Discharge of DebtsOnce the debtor education course is completed, the court will issue a discharge of your eligible debts, effectively wiping out the debts included in your bankruptcy case. This typically happens around 60 to 90 days after the 341... --- - Published: 2024-10-07 - Modified: 2024-10-07 - URL: https://www.jayweller.com/how-to-file-bankruptcy-and-keep-your-car/ Filing for bankruptcy can be stressful, especially when you're worried about losing your assets, like your car. For many in Tampa, a vehicle is not just a mode of transportation but a necessity for work, family obligations, and daily life. If you're considering bankruptcy but want to ensure that your car remains yours, there are steps you can take to protect it. Here's a guide to help you navigate the process of bankruptcy while keeping your vehicle. Types of Bankruptcy: Chapter 7 vs. Chapter 13 When filing for bankruptcy, you will likely choose between Chapter 7 or Chapter 13, depending on your financial situation. Both have different implications for your assets, including your car. Chapter 7: This type of bankruptcy involves liquidating your assets to pay off your debts. However, many states, including Florida, allow certain exemptions that protect specific assets, such as your home or car. If your vehicle is worth less than the state’s exemption limit, you can likely keep it. If the value exceeds the limit, you may need to pay the difference to retain ownership. Chapter 13: With Chapter 13, you enter into a repayment plan where you pay off your debts over three to five years. Under this type of bankruptcy, you can keep your car by including past-due payments in your repayment plan, giving you time to catch up. Understanding Car Exemptions in Florida In Tampa and across Florida, you are allowed certain exemptions that help protect your assets, including your car. Florida's motor vehicle exemption allows you to exempt up to $1,000 in equity for a single vehicle. If your car is worth less than $1,000 after subtracting any outstanding loans, it is protected during bankruptcy. Additionally, if you don’t claim a homestead exemption, you may be eligible for an additional $4,000 in personal property exemptions, which can be applied to your car. If your vehicle is worth more than the allowed exemption, you may still be able to keep it, but you will likely need to pay the value that exceeds the exemption to your creditors. How Reaffirming a Car Loan Works Another option for keeping your car during bankruptcy is reaffirming your car loan. Reaffirmation is a legal agreement in which you agree to continue making payments on your vehicle loan despite filing for bankruptcy. By reiterating the loan, you promise to keep paying the lender even though other debts may be discharged. While this can be a good strategy for keeping your car, you must be sure you can afford the payments going forward. If you need to catch up on payments after reaffirming the loan, the lender still has the right to repossess your car. Keeping Your Car Under Chapter 13 Tampa residents considering Chapter 13 bankruptcy can find keeping their cars more manageable. Since Chapter 13 involves a structured repayment plan, any missed payments on your vehicle can be included, allowing you to catch up over time. This prevents repossession and ensures your car stays with you if... --- - Published: 2024-10-01 - Modified: 2024-10-01 - URL: https://www.jayweller.com/which-type-of-court-handles-bankruptcy-law/ Bankruptcy law can be complex and confusing, especially if you need clarification on where the process begins. When individuals or businesses in Tampa, FL, face financial challenges, they may need relief through the legal system. Understanding which court handles bankruptcy is the first step toward navigating this process successfully. Understanding Bankruptcy Law Bankruptcy law in the United States is governed by federal legislation. Therefore, bankruptcy cases do not go through state courts like most other legal matters. Instead, these cases are handled in a specialized part of the federal judiciary known as bankruptcy courts. Every district across the U. S. has its bankruptcy court, which is part of the federal district court system. For residents and businesses in Tampa, FL, the U. S. Bankruptcy Court for the Middle District of Florida is the appropriate venue for filing bankruptcy. Why Bankruptcy Courts Handle These Cases Bankruptcy courts are a branch of the federal court system created to manage bankruptcy filings. The reason for federal jurisdiction in bankruptcy law is to maintain consistency across the country. While each state may have unique laws in other areas, bankruptcy remains standardized under federal legislation, ensuring the same rules apply no matter where you file. The federal court handles cases for individuals and businesses that must declare bankruptcy, providing an organized, efficient way to resolve debts. These courts operate under the guidelines set forth in the U. S. Bankruptcy Code, which includes different types of bankruptcy, such as Chapter 7, Chapter 11, and Chapter 13. The Structure of Bankruptcy Courts The structure of bankruptcy courts differs from that of other federal courts in several ways. Bankruptcy judges preside over these courts, but unlike district court judges, they do not serve for life. They are appointed for a 14-year term, after which they may be reappointed. Their job is to oversee all bankruptcy-related proceedings, including the collection of debts, distribution of assets, and approval of repayment plans. In Tampa, FL, the local bankruptcy court works closely with trustees who oversee specific bankruptcy cases. These trustees ensure creditors are paid as much as possible by liquidating assets or arranging repayment plans. Types of Bankruptcy Cases Handled by Bankruptcy Courts Bankruptcy courts deal with several cases, each tailored to different financial situations. Here’s a breakdown of the most common types: Chapter 7 Bankruptcy: Known as liquidation bankruptcy, this type allows individuals or businesses in Tampa, FL, to eliminate most unsecured debts. The bankruptcy court handles the liquidation of non-exempt assets to repay creditors. After selling assets, most remaining debts are discharged, and creditors are paid. Chapter 13 Bankruptcy: Also called reorganization bankruptcy, this option is available to individuals with regular income who wish to keep their assets. The bankruptcy court helps arrange a repayment plan, typically over three to five years, allowing debtors to repay their debts without forfeiting property. Chapter 11 Bankruptcy: Mostly used by businesses, Chapter 11 bankruptcy allows for debt reorganization without the business ceasing operations. The bankruptcy court oversees the restructuring process and develops... --- - Published: 2024-09-17 - Modified: 2024-09-17 - URL: https://www.jayweller.com/the-6-most-common-reasons-people-file-for-bankruptcy-in-2024/ Bankruptcy is often viewed as a last resort, a financial tool used only when other options have been exhausted. While filing for bankruptcy may seem daunting, it can provide a fresh start for individuals drowning in debt. Understanding the most common reasons people file can help you determine whether it might be the right choice for you. This article will explore why people turn to bankruptcy and how it can help those in financial distress, particularly in Tampa, FL. Medical Debt One of the leading causes of bankruptcy in the U. S. is overwhelming medical debt. Even with health insurance, people can still face significant out-of-pocket expenses for surgeries, treatments, or emergency care. Medical costs can pile up quickly, especially for those facing chronic illness or unexpected health crises. When these expenses become unmanageable, many individuals see bankruptcy as a way to escape crippling medical bills and start anew. Job Loss Another primary reason people file for bankruptcy is job loss. Losing a job can significantly impact your financial situation, especially if finding another position with comparable pay takes months or even years. The lack of steady income makes it difficult to keep up with mortgage payments, credit card debt, and other financial obligations. In Tampa, where the job market can fluctuate, especially in industries like tourism and construction, unemployment can lead to severe financial strain. Filing for bankruptcy in these cases may help individuals discharge their debts and get back on their feet. Credit Card Debt Credit card debt is another common cause of bankruptcy. While many people use credit cards for convenience, failing to pay off balances can result in high interest rates and fees, leading to spiraling debt. Credit card companies may raise interest rates if you miss a payment, causing balances to balloon. If you find yourself drowning in credit card debt, bankruptcy might provide the financial relief you need. Individuals with overwhelming credit card debt often turn to Chapter 7 bankruptcy, which allows them to discharge unsecured debts, including credit card balances. Divorce or Separation Divorce or separation can also lead to financial instability. Legal fees, alimony, child support, and the division of assets can leave one or both parties with substantial financial burdens. Sometimes, individuals may take on debts during a marriage, only to struggle with them after separation. Filing for bankruptcy can help divorced individuals regain control of their finances, mainly when shared debts or significant legal costs burden them. Unexpected Emergencies Unexpected emergencies, such as natural disasters, car accidents, or home repairs, can quickly drain savings and force individuals to rely on credit cards or loans. Tampa residents are no strangers to hurricanes and other natural disasters that can leave behind significant damage. If insurance doesn’t cover all the costs, these expenses can spiral out of control. Bankruptcy may provide a way to address these unforeseen financial challenges and help you recover from the unexpected. Business Failure Starting a business always carries a certain level of risk; unfortunately, not all businesses succeed.... --- - Published: 2024-08-27 - Modified: 2024-08-27 - URL: https://www.jayweller.com/the-rise-in-corporate-bankruptcies-what-it-means-for-businesses-in-tampa/ As 2024 progresses, one of the most significant trends in the legal landscape is the rising wave of corporate bankruptcies. Economic factors like high inflation and increased interest rates have created a challenging environment for many businesses, leading to a record number of bankruptcy filings. For businesses in Tampa, FL, understanding this trend and its implications under bankruptcy law is crucial for navigating these turbulent times. The Current Economic Climate and Its Impact The economic challenges of 2023, including persistent inflation and the Federal Reserve’s aggressive interest rate hikes, have placed immense pressure on businesses across various industries. Companies already struggling with debt are finding it increasingly difficult to manage their financial obligations. As a result, many businesses are turning to bankruptcy to restructure their debts or liquidate assets to satisfy creditors. In Tampa, FL, retail, hospitality, and real estate businesses have been particularly affected. Rising goods, labor, and borrowing costs have squeezed profit margins, forcing some companies to reconsider their operations and financial strategies. What Is Driving the Increase in Corporate Bankruptcies? Several factors are contributing to the surge in corporate bankruptcies in 2024: Rising Interest Rates: The Federal Reserve’s efforts to combat inflation by raising interest rates have made borrowing more expensive for businesses. Higher interest rates increase the cost of servicing existing debt, which can be unsustainable for companies with tight cash flow. Supply Chain Disruptions: Ongoing supply chain issues have increased raw materials and inventory costs. The financial strain can lead to insolvency for businesses that cannot pass these costs on to consumers. Shifting Consumer Behavior: Changes in consumer spending habits, particularly a shift away from discretionary spending, have impacted revenue streams for many businesses. Retailers, for instance, are facing lower sales volumes as consumers cut back on non-essential purchases. Legal and Regulatory Challenges: The legal environment is also evolving, with courts increasingly scrutinizing creative bankruptcy strategies that some companies have used in the past. For example, the Supreme Court’s decisions on non-consensual third-party releases have made it more difficult for companies to shield themselves from mass tort liabilities through bankruptcy. How Bankruptcy Law Affects Businesses In Tampa, FL, businesses facing financial distress have several options under bankruptcy law. The most common types of business bankruptcy are Chapter 11 and Chapter 7. Chapter 11 Bankruptcy: Often referred to as reorganization bankruptcy, Chapter 11 allows businesses to restructure their debts while continuing to operate. This option allows companies to negotiate with creditors, reduce debt load, and develop a plan to return to profitability. In the current economic climate, Chapter 11 is increasingly used by companies that believe they can recover if given the chance to reorganize. Chapter 7 Bankruptcy: For businesses that cannot sustain operations, Chapter 7 bankruptcy involves liquidating assets to pay off creditors. This type of bankruptcy typically results in the closure of the business. Given the financial pressures many companies face, Chapter 7 filings are also rising. Navigating Bankruptcy: Key Considerations for Businesses For businesses in Tampa, FL, considering bankruptcy, it is essential to... --- - Published: 2024-08-19 - Modified: 2024-08-19 - URL: https://www.jayweller.com/how-to-keep-your-business-afloat-while-filing-for-bankruptcy/ When faced with financial difficulties, many business owners fear that filing for bankruptcy might spell the end of their enterprise. However, this doesn't have to be the case. With the right strategy and guidance from a knowledgeable bankruptcy attorney in Tampa, you can navigate the complexities of bankruptcy while keeping your business afloat. Here's how you can maintain your business operations during this challenging time. Understanding the Different Types of Bankruptcy One of the first steps in keeping your business while filing for bankruptcy is understanding the different types of bankruptcy available to businesses. The two most common options are Chapter 7 and Chapter 11. Chapter 7 Bankruptcy typically involves liquidating a business's assets to pay off creditors. For most businesses, this means closing the doors for good. However, there are exceptions, particularly for sole proprietors who can use Chapter 7 to discharge personal debts while continuing their business operations on a smaller scale. Chapter 11 Bankruptcy is often the more favorable option for businesses looking to stay open. It allows companies to reorganize their debts and create a plan to repay creditors over time while continuing operations. Although the process can be complex and costly, Chapter 11 can provide the breathing room necessary to get a business back on track. Consulting a bankruptcy attorney can help you determine the best option for your situation. The Role of Chapter 11 in Business Reorganization Chapter 11 is specifically designed to help businesses restructure their debts and operations. Unlike Chapter 7, which liquidates the business's assets, Chapter 11 allows renegotiating contracts, reducing debts, and obtaining new financing. This can be particularly advantageous for companies with a viable long-term outlook but are currently struggling with cash flow issues. During a Chapter 11 bankruptcy, a business typically operates as a "debtor in possession," meaning the owner retains control of the business's day-to-day operations. This status allows the company to continue generating revenue while working on a plan to repay creditors. The court oversees this process, ensuring that the business adheres to the terms of the reorganization plan. For business owners committed to keeping their company open, Chapter 11 offers a path to recovery. However, the success of this process often hinges on the expertise of a skilled bankruptcy attorney who can guide you through the legal intricacies and help develop a reorganization plan that works for you and your creditors. Developing a Reorganization Plan A critical component of Chapter 11 bankruptcy is developing a reorganization plan. This plan outlines how the business intends to repay its debts while continuing operations. The plan must be approved by both the creditors and the bankruptcy court. Creating a successful reorganization plan requires thoroughly understanding your business's finances, operations, and market conditions. The plan should be realistic, providing a clear path to profitability and debt repayment. Critical elements of a reorganization plan may include: Debt Restructuring: Renegotiating the terms of existing debts to reduce monthly payments or extend repayment periods. Operational Changes: Implementing cost-cutting measures, streamlining operations, or... --- - Published: 2024-07-29 - Modified: 2024-08-06 - URL: https://www.jayweller.com/safeguarding-your-future-navigating-bankruptcy-and-asset-protection/ Bankruptcy is a complex legal process often misunderstood, particularly regarding asset protection. Many people in Tampa Bay and beyond fear that filing for bankruptcy means losing everything they own. However, the reality is that bankruptcy laws are designed to help individuals and businesses manage overwhelming debt while protecting certain assets. Understanding what bankruptcy can and cannot do for asset protection is crucial for anyone considering this option. One of the primary concerns for those contemplating bankruptcy is whether they can keep their home, car, and other valuable possessions. The good news is that bankruptcy law includes provisions to protect specific assets from being seized by creditors. In Tampa Bay, like in the rest of Florida, the state offers generous exemptions that allow debtors to retain a significant portion of their property. Chapter 7 and Chapter 13 are the most common types of bankruptcy filings for individuals. Chapter 7, often called liquidation bankruptcy, involves the sale of non-exempt assets to pay off creditors. However, many filers have little to no non-exempt property, meaning they can keep most of their belongings. Florida's bankruptcy exemptions play a crucial role in this process. For example, the state’s homestead exemption allows homeowners to protect the full value of their primary residence, provided they have owned it for at least 1,215 days before filing. This means that, in most cases, you won't lose your home if you file for bankruptcy. Other exemptions include protections for personal property, such as household goods, clothing, and appliances, up to a specific value. Additionally, Florida allows for the exemption of one vehicle up to a certain amount and tools of the trade necessary for your occupation. Retirement accounts, such as 401(k)s and IRAs, are protected under federal law, ensuring your future remains secure despite current financial difficulties. Chapter 13 bankruptcy, on the other hand, is known as a reorganization bankruptcy. This type allows debtors to keep their assets while restructuring their debts into a manageable repayment plan, typically lasting three to five years. During this period, debtors make monthly payments to a bankruptcy trustee, who then distributes the funds to creditors. Because Chapter 13 involves a repayment plan rather than asset liquidation, filers can generally retain all their property, provided they adhere to it. It's also worth noting that certain types of debt are not dischargeable in bankruptcy. These include child support, alimony, certain tax debts, and student loans (except in cases of undue hardship). While bankruptcy can provide significant relief from many types of unsecured debt, it is not a catch-all solution for all financial obligations. Understanding the limitations is as important as understanding its benefits, and it empowers you to make informed decisions about your financial future. Despite the protections offered by bankruptcy, there are still misconceptions about asset seizure. Many believe that filing for bankruptcy will automatically lead to the loss of their home, car, and other possessions. This fear often prevents people from seeking the help they need. However, the reality is that bankruptcy laws are... --- - Published: 2024-07-16 - Modified: 2024-07-19 - URL: https://www.jayweller.com/navigating-financial-turbulence-a-guide-to-chapter-7-vs-chapter-13-bankruptcy/ Filing for bankruptcy is a significant decision that requires careful consideration of one’s financial circumstances. The two main types of personal bankruptcy in the United States are Chapter 7 and Chapter 13, each offering distinct advantages and requirements. Understanding these differences is crucial for anyone considering bankruptcy to solve their financial difficulties. This comparison between Chapter 7 and Chapter 13 bankruptcy offers guidance on selecting the most suitable option for various financial situations, particularly with the help of a bankruptcy attorney in New Port Richey. Chapter 7 bankruptcy, also known as liquidation bankruptcy, involves a trustee’s sale of a debtor’s non-exempt assets to pay off creditors. This process typically takes a few months and can discharge most unsecured debts, such as credit card balances, medical bills, and personal loans. To qualify for Chapter 7, individuals must pass a means test, which compares their income to the median income in their state. If their income is below the median, they are eligible for Chapter 7. However, if it exceeds the median, they may have to file for Chapter 13 instead. One of the main advantages of Chapter 7 bankruptcy is the relatively quick discharge of debts, providing a fresh financial start. However, not all debts can be discharged under Chapter 7. The debtor is responsible for obligations such as student loans, child support, alimony, and certain tax debts. Additionally, individuals may lose some of their assets, as the trustee can sell non-exempt property to repay creditors. It is crucial to consult a bankruptcy attorney to understand which assets may be at risk and whether Chapter 7 is the best option. On the other hand, Chapter 13, also known as a reorganization bankruptcy, allows individuals to keep their assets while repaying debts through a court-approved repayment plan. This plan typically lasts three to five years, during which the debtor makes monthly payments to a trustee who distributes the funds to creditors. Unlike Chapter 7, Chapter 13 does not require the debtor to pass a means test, making it accessible to those with higher incomes. Chapter 13 is particularly beneficial for individuals with a steady income who can afford to repay a portion of their debts over time. It provides an opportunity to catch up on missed mortgage or car loan payments, potentially avoiding foreclosure or repossession. Additionally, Chapter 13 can discharge some debts not dischargeable under Chapter 7, such as certain tax obligations. However, the repayment plan can be lengthy and stringent, requiring disciplined financial management and adherence to the court’s requirements. Choosing between Chapter 7 and Chapter 13 bankruptcy depends on various factors, including income, type of debt, and personal financial goals. For individuals with limited income and few assets, Chapter 7 may offer the quickest path to debt relief. It can provide a fresh start by wiping out most unsecured debts, allowing for a more immediate recovery. However, those with significant assets they wish to protect or who have fallen behind on secured debts, such as mortgages or car loans, might find Chapter 13 more suitable. This option allows... --- - Published: 2024-06-25 - Modified: 2024-07-19 - URL: https://www.jayweller.com/navigating-bankruptcy-what-clearwater-parents-need-to-know-about-child-support/ Navigating the complexities of bankruptcy can be challenging, especially when they are intertwined with obligations such as child support payments. In Clearwater, seeking the guidance of a seasoned bankruptcy lawyer is crucial to understanding how filing for bankruptcy impacts one's responsibilities toward child support. Bankruptcy is often seen as a fresh start for those overwhelmed by debt. However, it’s essential to recognize that not all financial obligations are treated equally in bankruptcy proceedings. Child support payments, for instance, are given special consideration under the law. Child support is deemed a priority debt in Florida. Whether you file for Chapter 7 or Chapter 13 bankruptcy, your obligation to pay child support remains intact. When filing for Chapter 7 bankruptcy, also known as liquidation bankruptcy, a bankruptcy lawyer will help you discharge many unsecured debts, such as credit card debt and medical bills. However, this type of bankruptcy does not eliminate your duty to pay child support. The court will not discharge child support arrears, and you must continue making these payments as scheduled. A different approach is taken in Chapter 13 bankruptcy, also referred to as reorganization bankruptcy. A bankruptcy lawyer will assist in creating a repayment plan that spans three to five years. You must stay current with your child support payments during this period while repaying other debts. The bankruptcy court will prioritize your child support payments in the repayment plan, ensuring these obligations are met first. If you have missed any child support payments before filing for bankruptcy, those arrears will be included in your repayment plan. Bankruptcy can offer some relief by restructuring or discharging other debts, freeing up more of your income to meet child support obligations. This can be particularly helpful if your financial struggles have made it challenging to keep up with support payments. However, it's crucial to understand that bankruptcy does not provide a way to avoid paying child support. Failure to comply with child support obligations can result in severe consequences, including wage garnishment, loss of professional licenses, and even jail time. Hiring a bankruptcy lawyer can be highly beneficial. A knowledgeable lawyer will guide you through the bankruptcy process and help you understand your rights and responsibilities regarding child support. They can assist in negotiating with creditors, filing the necessary paperwork, and representing you in court. Moreover, they can advise you on managing your finances post-bankruptcy to ensure you comply with your child support obligations. It’s also worth noting that bankruptcy can long-term affect your financial health and credit score. A bankruptcy lawyer can help you develop a plan to rebuild your credit and manage your finances more effectively. By doing so, you can create a more stable financial environment, which can be beneficial for meeting your child support obligations and ensuring the well-being of your children. If you’re considering bankruptcy and are worried about how it might affect your child support payments, it’s essential to consult with a bankruptcy lawyer in Clearwater. They can provide tailored advice based on your... --- - Published: 2024-06-11 - Modified: 2024-07-19 - URL: https://www.jayweller.com/navigating-employment-challenges-after-bankruptcy/ Bankruptcy can be a challenging and stressful experience, but gaining a comprehensive understanding of its potential impacts on employment and job prospects can empower individuals to navigate these difficulties more effectively. Whether you are currently employed or seeking new job opportunities, knowing how bankruptcy might influence your situation is crucial. This article delves into the potential impacts of bankruptcy on current employment and future job prospects, offering practical advice for overcoming these challenges, with a focus on the importance of consulting a bankruptcy attorney in Clearwater. Understanding the legal process of bankruptcy is a crucial first step. It's a process designed to provide relief to individuals struggling with overwhelming debt, offering a fresh start. However, it's important to note that it also has consequences that can extend into various aspects of life, including employment. For those who are currently employed, one of the primary concerns is whether bankruptcy can affect their job security. The Bankruptcy Code provides reassurances for employees, ensuring that bankruptcy in itself is not grounds for termination. However, if the bankruptcy filing involves wage garnishment, it is possible that an employer might become aware of the financial situation. In such cases, while legal protections are in place, maintaining open communication with your employer about your financial difficulties can be beneficial. Regarding job searching, the impacts of bankruptcy can be more pronounced. Many employers conduct credit checks as part of their hiring process, particularly for positions that involve financial responsibilities or access to sensitive information. A bankruptcy on your credit report may raise concerns for potential employers about your financial reliability and decision-making skills. This can be a significant hurdle, especially in competitive job markets. To mitigate these challenges, discussing your bankruptcy openly and honestly during job interviews is advisable. Emphasize the steps you have taken to regain financial stability and how the experience has taught you valuable lessons in financial management. Highlighting your proactive approach to overcoming financial adversity can reassure potential employers of your reliability and commitment. Seeking the guidance of a bankruptcy attorney in Clearwater can be instrumental in navigating the post-bankruptcy employment landscape. A skilled attorney can advise you on approaching conversations with current and potential employers regarding your financial situation. They can also help you understand your rights and protections under the law, ensuring you are equipped to handle any employment-related issues arising from bankruptcy. Rebuilding your credit and financial standing after bankruptcy is not just crucial; it's a beacon of hope. Engaging in responsible financial behavior, such as timely bill payments and budgeting, can help improve your credit score over time. Many employers consider recent credit history more heavily than past financial difficulties, so demonstrating consistent financial responsibility can enhance your job prospects. Participating in credit counseling or financial education programs can also be beneficial, not only for personal financial recovery but also as a positive talking point in job interviews. Showing that you are actively working to improve your financial literacy and stability can help mitigate any concerns potential employers might... --- - Published: 2024-05-29 - Modified: 2024-07-19 - URL: https://www.jayweller.com/the-effects-of-bankruptcy-on-homeownership/ Bankruptcy is a significant financial event that can have far-reaching implications on various aspects of one’s life, including homeownership. For individuals considering bankruptcy, understanding its effects on their current and future ability to own a home is crucial. In this article, we will explore how filing for bankruptcy affects homeownership, including the ability to keep one’s house and the impact on future home buying, focusing on the role of a bankruptcy lawyer in Tampa. When a person files for bankruptcy, their primary concern is often whether they can keep their home. The outcome depends on several factors, including the type of bankruptcy filed, the amount of equity in the house, and the state’s exemption laws. In Tampa, as in other parts of Florida, the homestead exemption is critical in protecting homeowners. Florida has one of the most generous homestead exemptions in the country. Under this exemption, a primary residence can be shielded from creditors during bankruptcy, provided the homeowner has owned the property for at least 1,215 days before filing. If the equity in the home does not exceed the exemption limit, the homeowner can retain their property even after filing for bankruptcy. A knowledgeable bankruptcy lawyer can help individuals understand and navigate these exemptions to protect their homes. There are two main types of bankruptcy that individuals typically file: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves liquidating assets to pay off debts, while Chapter 13 bankruptcy involves creating a repayment plan to pay off debts over a period of time. The impact on homeownership differs between these two types. In a Chapter 7 bankruptcy, if the equity in the home is fully covered by the homestead exemption, the homeowner can keep their home. However, if the equity exceeds the exemption, the trustee may sell the home to pay creditors. This makes it imperative for homeowners to work with a bankruptcy lawyer to assess their situation and maximize their exemptions accurately. In Tampa, where property values can vary significantly, this assessment is particularly important. Chapter 13 bankruptcy, on the other hand, allows homeowners to keep their property by catching up on missed mortgage payments through a repayment plan. This can be a more favorable option for those who have fallen behind on their mortgage but have a steady income that allows them to make regular payments. A bankruptcy lawyer can assist in creating a feasible repayment plan that satisfies the court and creditors while enabling the homeowner to retain their property. Beyond the immediate concern of keeping one’s home, bankruptcy also affects future home buying. Depending on the type, filing for bankruptcy can remain on a credit report for seven to ten years. This can make it more challenging to obtain a mortgage and, when possible, lead to higher interest rates. However, rebuilding credit after bankruptcy is achievable with careful planning and financial discipline. A bankruptcy lawyer can provide valuable guidance on rebuilding credit and preparing for future homeownership. This may include ensuring all debts included in the... --- - Published: 2024-05-14 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy-and-student-loans-understanding-your-options/ Navigating the treacherous waters of financial hardship can be daunting, mainly when it involves the complexities of bankruptcy law and student loan debt. In Clearwater and across the United States, many debtors grappling with overwhelming financial obligations often wonder if declaring bankruptcy could provide a respite from their burdensome student loans. This article explores the intricate relationship between bankruptcy and student loans, shedding light on the conditions under which student loans can be discharged and the legal avenues available. Bankruptcy law, intended as a lifeline for those drowning in debt, offers various forms for individuals: Chapter 7 and Chapter 13 being the most prevalent for consumers. Chapter 7 bankruptcy allows for liquidating assets to pay off debts and potentially discharge remaining debts. In contrast, Chapter 13 involves restructuring debts and setting up a plan to pay them over three to five years. However, the treatment of student loans within these frameworks is notably stringent. The general rule in bankruptcy law is that student loans are not dischargeable. This is because the debtor must demonstrate that paying the student loan would impose an "undue hardship" on them and their dependents. The benchmark for what constitutes an undue hardship is exceptionally high and varies from one jurisdiction to another. The evaluation often hinges on the Brunner Test, originating from a 1987 court case. This test assesses three primary factors: whether the debtor can maintain a "minimal" standard of living while repaying the loan, whether additional circumstances exist indicating that this state of affairs is likely to persist for a significant portion of the repayment period, and whether the debtor has made good faith efforts to repay the loans. Successfully proving undue hardship under the Brunner Test is notoriously challenging and often requires compelling evidence of severe financial distress. Moreover, the complexity of proving undue hardship means that many debtors opt not to pursue the discharge of student loans in bankruptcy. The process involves detailed documentation and potentially a separate legal proceeding called an adversary proceeding, a lawsuit within a bankruptcy case that incurs additional legal costs and emotional stress. Despite these challenges, there are specific scenarios in which the discharge of student loans becomes more feasible. For instance, if a debtor suffers from a permanent disability that prevents them from maintaining gainful employment, the courts may find that the requirements for undue hardship are met. Additionally, recent legal developments and discussions around bankruptcy law have shown a slight shift in how courts view student loan debt, with some judges recognizing the evolving financial landscapes and the crippling effect of student loans on younger generations. Debtors considering bankruptcy as an option for managing student loan debt should consult a bankruptcy attorney specializing in this area. These professionals can guide the likelihood of a successful discharge and the preparation needed for an undue hardship claim. They can also advise on alternative debt relief options that might be available, such as income-driven repayment plans, which adjust monthly payments based on the debtor's income and family... --- - Published: 2024-04-23 - Modified: 2024-04-23 - URL: https://www.jayweller.com/bankruptcy-and-your-retirement-funds-safeguarding-your-future/ Bankruptcy is a challenging financial situation that can impact all aspects of your life, including your long-term savings. However, if you are considering filing for bankruptcy in Tampa, it's crucial to understand how this decision might affect your retirement funds and what steps you can take to protect your financial future. Understanding Bankruptcy and Retirement Funds Bankruptcy is a legal process that helps individuals or businesses who cannot pay their debts get a fresh start by liquidating assets to pay their creditors or creating a repayment plan. Retirement funds, however, are often treated differently from other types of assets during bankruptcy proceedings. Certain retirement accounts are exempt from bankruptcy proceedings. These exemptions are designed to protect your future financial security by ensuring you have resources available when you retire. Typical accounts that are protected include: 401(k)s and 403(b)s: Employer-sponsored retirement plans are generally exempt from bankruptcy. IRA Accounts: Both Traditional and Roth IRAs are protected up to a certain limit (approximately $1,512,350 as of 2023). Pension Plans: Most private and public pension plans are covered under the Employee Retirement Income Security Act (ERISA) and are exempt from bankruptcy claims. Social Security Benefits: These are exempt from bankruptcy and most debt collection efforts. Bankruptcy Types and Retirement FundsWhen filing for bankruptcy, you generally have two main options: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 Bankruptcy: This is also known as liquidation bankruptcy. In this case, a trustee will sell your non-exempt assets to pay creditors. As mentioned earlier, most retirement funds are exempt, but it is essential to consult with an attorney to understand the specifics of your situation. Chapter 13 Bankruptcy: This option involves restructuring debts and creating a repayment plan. Your retirement funds are generally untouched in Chapter 13, as the focus is on restructuring your current income and expenses to pay down debts. Steps to Protect Your Retirement Funds Understand Your Rights: Before making any decisions, it is critical to understand which of your assets are protected under federal and Florida state laws. Consulting with a Tampa-based bankruptcy attorney can provide clarity and strategic advice tailored to your situation. Consider the Timing of Your Bankruptcy: Timing can play a crucial role in how your assets are handled during proceedings. For instance, a recent withdrawal from a retirement account might not be protected. Legal guidance is essential here to avoid any inadvertent mishandling of funds that could affect their exempt status. Avoid Certain Financial Actions: It’s advisable not to take any large withdrawals from your retirement accounts before filing for bankruptcy. Doing so might expose these funds to potential claims by creditors. Explore All Other Alternatives: Bankruptcy should be considered a last resort. Explore all other debt-relief options, such as debt consolidation, loan modification, or direct negotiations with creditors. Sometimes, simple financial restructuring or professional debt counseling can provide a viable path away from bankruptcy. Plan for the Future: Post-bankruptcy, it’s crucial to plan strategically for rebuilding your credit and ensuring financial stability. Consider working with financial advisors... --- - Published: 2024-04-10 - Modified: 2024-04-10 - URL: https://www.jayweller.com/when-to-consider-bankruptcy-signs-you-might-need-an-attorney/ In the complex landscape of financial management, the decision to file for bankruptcy is never taken lightly. It's a pivotal moment that signifies not just a challenge in one's financial journey but also a step towards a fresh start. Recognizing when you've reached this point can be difficult, but there are unmistakable signs that suggest it's time to consult a bankruptcy attorney. 1. Overwhelming Debt That Doesn’t Decrease One of the most apparent indicators that it may be time to consider bankruptcy is when your debts remain insurmountable despite your best efforts to pay them down. If your balances linger or, worse, continue to grow due to interest and late fees despite making regular payments, bankruptcy could offer a viable solution. A bankruptcy attorney can help assess your situation to determine if declaring bankruptcy could effectively eliminate or reduce your debt. 2. Legal Actions by Creditors When creditors begin taking legal actions against you, such as filing lawsuits, seeking wage garnishments, or initiating foreclosure proceedings on your home, it’s a critical sign that you need the advice of a bankruptcy attorney. Bankruptcy can halt these actions, providing you with protection through an automatic stay that stops most creditors in their tracks, giving you breathing room to work out your next steps. 3. Using Credit for Basic Living Expenses If you find yourself in a cycle where you need to use credit cards or loans to pay for basic living expenses because your cash is entirely directed towards paying off debt, it’s a strong indication that your financial health is in jeopardy. This cycle can lead to a quick escalation of debt, and consulting with a bankruptcy attorney can help you understand if bankruptcy could reset your financial status, allowing you to start afresh. 4. Sacrificing Essential Needs Compromising on essential needs, such as skipping medical treatments, cutting down on groceries, or delaying critical home repairs because you can’t afford them, signals severe financial distress. A bankruptcy attorney can guide you through the bankruptcy process, potentially freeing up resources so you can afford your basic needs without compromise. 5. Mental Health Strain Due to Financial Stress The toll that financial stress can take on your mental health is significant. If debt is causing you constant anxiety, depression, or strain in your relationships, it’s essential to consider all options, including bankruptcy. A bankruptcy attorney can provide not just legal advice but also a pathway to relief from the constant worry over debt. 6. Unsecured Debts Exceeding Half Your Income If your unsecured debts, such as credit card debt, medical bills, and personal loans, total more than half your annual income, it can be nearly impossible to pay off your debt within a reasonable timeframe. A bankruptcy attorney can evaluate your debts versus your income and assets to determine if bankruptcy could provide a more realistic solution to your financial woes. 7. Considering Extreme Measures When you’re contemplating drastic financial decisions, like draining your retirement accounts or borrowing against your home equity to... --- - Published: 2024-03-25 - Modified: 2024-03-25 - URL: https://www.jayweller.com/credit-score-recovery-steps-to-take-post-bankruptcy/ Bankruptcy is a challenging ordeal, both emotionally and financially. However, it can also provide a fresh start, allowing individuals overwhelmed by debt a chance to reset their financial lives. One of the most daunting aspects of post-bankruptcy recovery is rebuilding your credit score. It's a journey that requires patience, discipline, and strategic planning. For those navigating this path, particularly in Clearwater, FL, consulting a knowledgeable bankruptcy attorney can be an invaluable first step. This article offers a detailed plan to help individuals rebuild their credit scores after bankruptcy. Understanding the Impact of Bankruptcy The first step in recovery is understanding how bankruptcy affects your credit. A Chapter 7 bankruptcy can stay on your credit report for up to 10 years, while a Chapter 13 bankruptcy remains for 7 years. During this time, the impact on your credit score can be significant. However, the effect diminishes as time passes, especially if you take active steps to rebuild your credit. A bankruptcy attorney can provide advice tailored to your specific situation, helping you understand the nuances of how your credit might be affected. Step 1: Review Your Credit Report After bankruptcy, regularly reviewing your credit report becomes crucial. You're entitled to a free credit report every 12 months from each of the three major credit reporting agencies. Check for inaccuracies, such as debts that were discharged in bankruptcy that are still showing as active. Dispute any errors you find, as these can unnecessarily drag your credit score down. Step 2: Create a Budget and Build an Emergency Fund A solid financial foundation post-bankruptcy starts with a realistic budget that includes savings. Start small, if necessary, but the goal is to build an emergency fund that covers at least three to six months of expenses. This fund serves as a buffer against future financial shocks, reducing the need to take on debt for unexpected expenses. Step 3: Apply for a Secured Credit Card A secured credit card is a fantastic tool for rebuilding credit. You'll make a deposit with the lender, which usually becomes your credit limit. Use the card for small purchases each month, and pay the balance in full and on time. This responsible use is reported to the credit bureaus, helping to build your credit history. Make sure to choose a card that reports to all three major credit bureaus. Step 4: Consider a Credit-Builder Loan A credit-builder loan is another tool designed to help people build or rebuild their credit. The loan amount is held by the lender in an account and not released to you until the loan is paid off. Payments are reported to the credit bureaus, helping to establish a positive payment history. Consult with a bankruptcy attorney in Clearwater, FL, to find a reputable lender that offers these loans. Step 5: Add a Mix of Credit As your credit improves, consider adding a mix of credit types to your profile. This can include a traditional, unsecured credit card, an installment loan, or a retail account.... --- - Published: 2024-03-11 - Modified: 2024-03-11 - URL: https://www.jayweller.com/how-a-bankruptcy-attorney-can-help-you-reset-your-finances-in-the-new-year/ As time progresses, it's a period for reflection, setting goals, and, most importantly, seeking new beginnings. For many, this involves taking a hard look at their financial situation and considering ways to improve it. If you're struggling with debt, the idea of a fresh start is particularly appealing. In Clearwater, this is where a bankruptcy attorney can play a crucial role. By guiding you through the process of filing for bankruptcy, an attorney can help you reset your finances and embark on a path toward financial stability. Understanding Bankruptcy Bankruptcy is a legal process designed to help individuals and businesses eliminate or repay their debts under the protection of the bankruptcy court. The two most common types of bankruptcy for individuals are Chapter 7 and Chapter 13. Chapter 7 bankruptcy allows for the liquidation of assets to pay off debts, offering a clean slate, while Chapter 13 involves restructuring debts into a manageable repayment plan. The Role of a Bankruptcy Attorney A bankruptcy attorney is more than just a legal advisor; they are a guide through one of the most challenging financial decisions you may ever make. Here’s how they can help: Expert Advice Bankruptcy laws are complex and vary by state. An attorney provides expert advice tailored to your specific situation. They can help you understand your options, the differences between Chapter 7 and Chapter 13 bankruptcy, and which path is best suited to your circumstances. Accurate Filing Filing for bankruptcy involves a lot of paperwork and strict deadlines. Any mistake can result in delays or even dismissal of your case. A bankruptcy attorney ensures that all documents are accurately prepared and submitted on time, helping to avoid any potential pitfalls. Asset Protection One of the biggest concerns for those considering bankruptcy is the fear of losing their home, car, or other valuable assets. An attorney can help protect your assets through exemptions allowed by law, ensuring you don’t lose everything. Credit Recovery Support Bankruptcy can significantly impact your credit score, but it's also a step towards rebuilding your financial health. A bankruptcy attorney can advise you on how to rebuild your credit after bankruptcy, helping you get back on your feet sooner. Peace of Mind Perhaps the most significant role an attorney plays is offering peace of mind. They handle the legal aspects of your bankruptcy, allowing you to focus on your financial recovery and future planning. Resetting Your Finances The beginning of the year symbolizes a fresh start, making it the perfect time to address your financial issues head-on. Here’s how filing for bankruptcy with the help of an attorney can reset your finances: Eliminating or Reducing Debt Bankruptcy can eliminate most, if not all, of your unsecured debts, such as credit card debt, medical bills, and personal loans. This reduction or elimination of debt can free up your income to manage your finances more effectively. Stopping Collection Actions As soon as you file for bankruptcy, an automatic stay goes into effect, stopping most collection actions against... --- - Published: 2024-03-04 - Modified: 2024-03-04 - URL: https://www.jayweller.com/navigating-the-path-to-financial-freedom-the-process-of-filing-for-bankruptcy/ Filing for bankruptcy can be a complex and emotional journey. It's a path tread by many who seek relief from overwhelming debt, aiming to reset their financial compass. In Clearwater, understanding this process and how a bankruptcy attorney can assist is crucial to navigating these choppy waters successfully. This guide outlines the essential steps involved in filing for bankruptcy and highlights the indispensable role of a knowledgeable bankruptcy attorney at each stage. Step 1: Understanding Your Options The first step in the bankruptcy process is to comprehensively understand your financial situation. This is where a bankruptcy attorney becomes invaluable. They can help assess your debts, assets, and income to determine the most suitable type of bankruptcy for you — Chapter 7 or Chapter 13. A seasoned attorney will explain the differences, including the liquidation process in Chapter 7 and the debt reorganization plan in Chapter 13, ensuring you make an informed decision. Step 2: Mandatory Credit Counseling Before filing for bankruptcy, you must complete a credit counseling course from a government-approved agency. This course aims to ensure that you understand all the debt relief options available to you. An attorney can recommend reputable credit counseling agencies in Clearwater and help you interpret the implications of this step in your bankruptcy process. Step 3: Preparing and Filing the Bankruptcy Petition Preparing the bankruptcy petition is a meticulous process that requires detailed information about your finances. This includes your debts, income, assets, expenses, and recent financial transactions. A bankruptcy attorney's expertise is crucial here, as they ensure the accuracy and completeness of the documents, thus minimizing the risk of complications or delays. They will guide you through gathering necessary documents like tax returns, pay stubs, mortgage statements, and loan documents. Step 4: Dealing with the Automatic Stay Upon filing your bankruptcy petition, an automatic stay goes into effect. This court order stops most creditors from pursuing collection activities against you. Your attorney will explain how this impacts foreclosure proceedings, wage garnishments, and other creditor actions, providing a much-needed respite as you work through the bankruptcy process. Step 5: The 341 Meeting of Creditors Approximately a month after filing, you will attend the 341 Meeting of Creditors. Here, the bankruptcy trustee and any of your creditors can ask you questions about your financial situation and the documents you filed. Having a bankruptcy attorney by your side during this meeting is crucial. They can prepare you for the types of questions you might be asked and advocate on your behalf, ensuring your rights are protected. Step 6: Dealing with Bankruptcy Exemptions In a Chapter 7 filing, you might have to surrender some assets to pay off creditors. However, specific bankruptcy exemptions protect certain types of assets. A skilled bankruptcy attorney in Clearwater will help you understand Florida’s bankruptcy exemption laws and how they apply to your case, potentially allowing you to keep your home, car, personal belongings, or retirement savings. Step 7: Completing a Debtor Education Course After filing for bankruptcy, but before your... --- - Published: 2024-02-19 - Modified: 2024-02-19 - URL: https://www.jayweller.com/renting-an-apartment-in-florida-after-bankruptcy/ A common question is whether filing bankruptcy in Florida will affect renting an apartment or house, In the thirty years that I have practiced bankruptcy law, representing debtors, I have never been reported an instance in which a person or persons were denied leasing or renting an apartment or house because of the filing of a bankruptcy. Schedule G of any bankruptcy petition questions whether the debtor or bankruptcy filer has any unexpired leases. The petition should disclose any such leases including the lease of a residential dwelling. The debtor should indicate in the bankruptcy petition whether he or she intends to assume of reject the lease. In various jurisdictions, if the intent is to assume the lease, it may be advisable to file a motion to assume the lease. From my observations, as a practical matter, if the debtor does not file such a motion, the lessor, or landlord will continue to honor the lease, provided the debtor remains current on his or her lease payments. Some lease applications question whether the applicant has filed bankruptcy. My experience is some lessors are concerned not so much whether the debtor filed bankruptcy but whether the debtor is in an active bankruptcy, and in particular, a Chapter 7 bankruptcy. However, the lessor’s concerns may be satisfied by explaining that any debtor incurred after the filing of the bankruptcy is generally not dischargeable in bankruptcy. The primary concerns of lessors is not that the applicant has filed bankruptcy, but other factors such as whether the applicant has ever, or recently suffered an eviction, or whether the applicant has a criminal record. The filing of the bankruptcy, and especially the receipt of a Discharge in bankruptcy may make the applicant more attractive, as such Discharge generally indicates that the debtor or applicant has an improved debt to income ratio, meaning such applicant has more disposable income to make the rental or lease payments. It is advisable that any applicant that has matters that may concern the lessor or landlord to address those issues at the beginning of the application process. Even an eviction may have an explanation that indicates the applicant or lessee has not committed a wrongdoing worthy of such remark or history on one’s credit report or other reporting method. Also, it is important how one presents oneself in the application process. This means not only presenting oneself with a clean physical appearance but also behaving in a polite and courteous manner. There is no law that prevents a lessor from leasing an apartment or other residence to an applicant because the debtor or applicant filed a bankruptcy. There is no law that mandates a lessor lease such residence despite the bankruptcy filing. However, as stated above, other factors are of greater concern to the lessor in making such decisions. I have witnessed circumstances where the lessor demanded an additional security, such as the pre-payment of rents due to the bankruptcy filing. However, such circumstances in my experience are rare, according... --- - Published: 2023-12-19 - Modified: 2024-11-01 - URL: https://www.jayweller.com/festive-finances-celebrating-wisely-while-filing-for-bankruptcy/ The holiday season can be a challenging time for individuals considering bankruptcy. The decision to file for bankruptcy before or after the holidays depends on various factors, including financial circumstances, personal priorities, and the timing of legal processes. 1. Timing ConsiderationsThe timing of a bankruptcy filing is crucial, especially during the holiday season when government offices and legal professionals may operate on reduced schedules. This can lead to delays in the bankruptcy process and impact the resolution of financial issues. It is important to plan accordingly and consider the potential for reduced operational hours during the holidays. Consulting with a bankruptcy attorney in Tampa can help you understand specific rules about computing and extending time, which may exclude weekends and holidays if the time allowed is less than a certain number of days, further complicating the timing of legal proceedings. 2. Financial ImplicationsFiling for bankruptcy during the holidays can be tempting for those struggling with high credit card debts incurred during this period. However, incurring debt with the intention of discharging it through bankruptcy could be seen as fraudulent. This could lead to certain debts being declared non-dischargeable, meaning they cannot be eliminated through bankruptcy. It's crucial to avoid any financial decisions that could be construed as fraudulent or irresponsible prior to filing for bankruptcy. A bankruptcy attorney in Tampa can provide advice to ensure that your financial actions before filing are prudent and within legal boundaries. 3. Household Income ConsiderationsWhen filing for Chapter 7 bankruptcy, household income is a significant factor. Filing in December means that income from the previous six months will be considered. For individuals whose income varies throughout the year, this can be an essential consideration. The timing of the filing could impact eligibility for bankruptcy or the terms of the bankruptcy agreement. A bankruptcy attorney in Tampa can offer guidance on how your household income might affect your bankruptcy case. 4. Emotional and Psychological AspectsThe emotional and psychological toll of bankruptcy can be amplified during the holidays, a time typically associated with joy and celebration. Adding the stress of financial uncertainty and legal proceedings can exacerbate feelings of anxiety and depression. For some, waiting until after the holiday season may help reduce this emotional burden, allowing them to focus on family and festivities without the added stress of bankruptcy proceedings. Speaking to a bankruptcy attorney in Tampa can provide support and help manage the emotional aspects of filing for bankruptcy. 5. Strategic PlanningExperts often recommend filing for bankruptcy in the spring, summer or fall rather than during the hectic holiday season. This approach allows individuals to navigate the bankruptcy process without the added pressures and distractions of the holidays, potentially leading to a smoother and more efficient resolution of financial issues. Moreover, planning the filing strategically can help in aligning with the individual's financial situation and legal requirements. ConclusionDeciding whether to file for bankruptcy during the holidays is a process that requires careful consideration of timing, financial implications, and emotional impact. For those in the... --- - Published: 2023-12-04 - Modified: 2024-07-12 - URL: https://www.jayweller.com/will-a-personal-swimming-pool-loan-be-included-in-bankruptcy/ A bankruptcy lawyer will tell you that individual advances from acquaintances, family members, a bank, or a credit union are liabilities that may be dismissed in insolvency. A dismissal excuses the person borrowing funds from the legitimate responsibility to repay previous liabilities. Some instances of liabilities that may be dismissed include swimming pool loans, charge cards, doctor bills, past due utility bills, returned checks, and court of law costs that aren’t thought to be deceitful. There are 19 types of debt that may not be charged off in bankruptcy. These include: Student loans Individual harm liabilities emerging from a drunk driver automobile crash Obligations from a tax-advantaged retirement plan Child support or alimony Liabilities payable to a minor or ex-partner emerging from a split up or separation Fines or penalization owed to government organizations Debts left off the insolvency request unless the lender, in fact, knew of the recording Various kinds of taxes Condo or cooperative shelter fee arrears Lawyer payments for child custody or support Felon restitution and other court fees or penalties If you decide to file for insolvency, you will need to determine what type of bankruptcy you need to file for. A bankruptcy lawyer will be able to help you determine what is right for you. In Chapter 7 bankruptcy, the goal is to eliminate all debts. Therefore, if you have medical bills, you can avoid paying them. If you have a swimming pool loan, it can be canceled out. There are things that are exempt from Chapter 7. These include your house, automobile, jewelry, health aids, and retirement accounts. With Chapter 13 bankruptcy, a repayment plan is put into place. It may be possible to have some debt eliminated. Borrowers may not owe over $465,275 of unsecured debt or $1,395,875 of secured debt when filing for a Chapter 13 insolvency. The Bankruptcy Code provides stipulations for an increase to these amounts every 36 months. Chapter 7 and 13 bankruptcy have important differences between them. Specifically, in a Chapter 13 bankruptcy, a borrower retains his or her possessions with the agreement that he or she is obligated to repay all or part of the debt over a period of three to five years. Chapter 13 bankruptcy allows a borrower to keep their assets and recover quickly from insolvency if the borrower can meet certain qualification conditions, such as obtaining adequate revenue to repay the obligation on time. Chapter 7 bankruptcy can be more destructive for borrowers with large possession foundations than for borrowers with minor asset bases and apparently impassable amounts of liability. This enables borrowers to promptly repay immense amounts of liability. Chapter 7 bankruptcy is generally limited to low-income individuals who are unable to repay some of their debts. A Chapter 7 bankruptcy petition erases unsecured liabilities once the court accepts the petition. This operation could last many months. Registering for Chapter 13 insolvency doesn’t release unsecured debts. On the contrary, installments must be paid in accordance with a court-ordered schedule. When the schedule... --- - Published: 2023-11-13 - Modified: 2024-11-01 - URL: https://www.jayweller.com/mortgages-bankruptcy-and-foreclosure-in-tampa/ If you are determined to prevent foreclosure on your home, you may decide that filing for bankruptcy is for you. Under both Chapter 7 and Chapter 13 bankruptcy, you are entitled to keep your primary home should you decide to file. Under Chapter 7, you may be required to liquidate your assets. With Chapter 13, you are required to repay a set amount to your bankruptcy trustee each month. If you decide Chapter 13 is the right way to file, you may also be able to file for a loan modification or have the bank give you five years to repay all past-due balances on your mortgage. What about obtaining a second mortgage after filing for bankruptcy? Within two years after filing for bankruptcy, you may qualify for an FHA or VA mortgage. Whatever your outcome is will be based on what circumstances you have. To learn more, speak to a bankruptcy attorney. You may also qualify for a Fannie Mae mortgage just two years after you have filed for bankruptcy. If you are able to make 12 consecutive payments if you have filed Chapter 13, you may also be allowed to increase your debt. There are some folks who decide that they do not want to keep their home when they are filing for bankruptcy. There can be some advantages to this, but there are also many advantages to keeping the home. It is best to consult with a bankruptcy attorney to discuss what your options are for your scenario. People who file for Chapter 7 bankruptcy may decide to surrender their homes. Regardless of whether this is the case or not, they will need to file a statement of intention. This statement lays out if they intend to reaffirm, alter a loan, or surrender the home. Should you decide to surrender the home, you will be under no further obligation for the debt of the home. If you do decide to walk away from the home, the home will be sold at a foreclosure auction. Should the auction not bring in enough funds to cover what is due on the mortgage of the home, a mortgage deficiency will occur. An example of this is if you owe $180,000 on your mortgage, but the house only auctions off for $80,000, the creditor is short by $100,000. In this case, they can get a judgment to have your wages garnished or have liens put on any other property you own for the $100,000. However, under bankruptcy laws, a discharge in bankruptcy will nullify a judgment. Filing bankruptcy can be a confusing thing to do. But there are times when it makes sense to do it in order to get a fresh start on life. There are various aspects to think about, and one certainly does not want to make a mistake during the process. While many have had success in filing themselves, it is often better to have the guidance of a bankruptcy attorney, as each circumstance is different. Attorneys... --- - Published: 2023-10-16 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy-may-be-costlier-than-you-think/ When you have a bankruptcy attorney file bankruptcy for you near Lakeland, you’ll be able to either discharge or restructure your debts so that you’ll have additional time to repay any debts that you owe. Not only will you still owe money, but filing for bankruptcy comes with a cost of its own. This cost depends on the type of bankruptcy you file and whether you decide to hire a bankruptcy attorney (which is something you should do). There are also long-term costs to be considered. Here are what some of these costs are. Chapter 7 (a. k. a. , Liquidation Bankruptcy)Typically, Chapter 7 bankruptcy is recommended by bankruptcy attorneys for people near Lakeland who have an income that’s below their state’s median. When you file bankruptcy under this chapter, you must sell your assets to repay your debts. To get started, though, you’ll need to pay a $245 filing fee. Once you’ve filed, your lender can still move forward with foreclosure or repossession of any unsecured debts (e. g. , mortgage, auto loan). Chapter 13When you file bankruptcy under Chapter 13, you’ll pay more, but unlike with Chapter 7, you won’t have to sell off most of your belongings. Instead, your financial life and debts will be reorganized so that you can have a fresh start while keeping some of your property (e. g. , your house). The filing fee for Chapter 13 is the same as when you file bankruptcy under Chapter 7 near Lakeland; it’s $245. With Chapter 13, your bankruptcy attorney will work with you and the courts to extend the amount of time that you have to repay your creditors. Usually, this is extended to a period of three to five years. If you make all of your payments under this plan, your unsecured debts will be discharged. To do this, you’ll be responsible for working with a trustee who’s been appointed by the court near Lakeland. They’ll help ensure that you make the required payments to your creditors. You’ll be responsible for paying them a commission of up to 10% when you file bankruptcy this way. Long-Term Costs of Bankruptcy Near LakelandWhile there’s an immediate cost that you’ll pay when you file bankruptcy, there’s also the long-term impact on your financial life that you’ll have to deal with. You should also know that your credit score is going to take a large hit since bankruptcy stays on your credit report for 7 - 10 years. During this time, you’ll have a hard time qualifying for a new loan. Even if you’re able to get a new loan, you’ll be hit with a higher interest rate than someone who has good credit. Unfortunately, this will increase your loan’s cost significantly. Furthermore, there are some landlords and employers who check your credit when you apply for an apartment or job. When you have a bankruptcy on your credit report, your chances of obtaining these things could be harmed. Bottom LineWhen you’re overcome by a large amount... --- - Published: 2023-10-02 - Modified: 2023-10-02 - URL: https://www.jayweller.com/7-essential-tips-for-a-brighter-financial-future/ Are you feeling overwhelmed and stressed about your finances? It's completely understandable, as managing money can be a daunting task. However, it's important to remember that you're not alone in this struggle. According to a 2020 study conducted by Capital One, a staggering 77% of participants reported feeling anxious about their financial situation. The good news is that there are a variety of resources available to help you manage your finances effectively. By taking a proactive approach to your financial situation, you can reduce your stress levels and set yourself up for long-term financial success. To start, it's essential to create a budget. This involves tracking your income and expenses and identifying areas to cut back on unnecessary spending. Additionally, it's important to establish financial goals, such as paying off debt or saving for a down payment on a house. By setting specific goals and developing a plan to achieve them, you can stay motivated and focused on your financial priorities. Another critical aspect of financial management is building an emergency fund. This involves setting aside money in a separate account to cover unexpected expenses, such as car repairs or medical bills. By having an emergency fund in place, you can avoid going into debt when unexpected expenses arise. Overall, managing your finances requires commitment, discipline, and planning. However, by taking a proactive approach and utilizing the available resources, you can reduce your stress levels and set yourself up for long-term financial success. Crafting Your Personal Budget:Did you know that financial stress can lead to impulsive spending? Crafting a budget is your first line of defense. Start by tallying up your monthly income from all sources. Then, list out your monthly expenses. The difference? That's your starting budget. Adjust as needed, and consider strategies like the 50/30/20 rule to optimize your spending. Keep an Eye on Your Spending:Confidence in your finances can be a game-changer. One way to boost that confidence? Track your spending. Whether you're a fan of digital apps or old-school paper tracking, categorizing your expenses can give you a clear picture of where your money's going. Start Saving for Retirement, No Matter How Small:A significant 68% of Americans worry about not having enough for retirement. The solution? Start small. Whether it's a 401(k) through your employer, a 403(b) plan, a traditional IRA, or a Roth IRA, every little bit counts. And remember, the magic of compound interest means the earlier you start, the better! Build Your Emergency Fund:Life is unpredictable. Having an emergency fund for those unexpected moments can provide peace of mind. Tips to grow this fund include shopping for better interest rates, depositing bonuses or tax refunds, and setting up automatic transfers. Strategize Your Debt Repayment:Debt can be a major source of financial anxiety. Two popular methods to tackle it are the Snowball method (focusing on the smallest balances first) and the Debt Avalanche method (targeting the highest interest rates first). Choose the one that aligns with your goals and stick to it. Cultivate Stellar... --- - Published: 2023-09-11 - Modified: 2023-09-11 - URL: https://www.jayweller.com/should-you-file-for-bankruptcy-or-divorce-first/ Many people who are getting divorced near Clearwater cite it as the main reason why they’re also filing bankruptcy. A little planning can make both of these things less complicated and more cost-effective, too. There are certain factors you should consider when determining the best time for filing bankruptcy - things such as where you live, how much property you own, how much debt you have, and what type of bankruptcy you’re trying to file for. Filing Bankruptcy Together (a. k. a. , a Joint Petition)You, and possibly your spouse, initiate your bankruptcy case by filing the official bankruptcy paperwork with the court. If you choose to file with your spouse, you’ll need to file a “joint petition. ” This contains both of your financial information in a single document. Typically, this is more efficient, even for divorcing couples near Clearwater. The Division of PropertyFiling bankruptcy jointly will simplify the division of property in your divorce. However, before doing so, you’ll want to ensure that your state will allow you enough exemptions to protect all the property that you and your spouse own. There are some states that’ll allow you to double the amount of your exemption if you file jointly. Therefore, if you live in one of these states and own a lot of property, filing for bankruptcy as a couple is a good idea since it’ll double your exemptions. However, if you can’t double your exemptions and you have more property than you’re able to exempt in a joint bankruptcy, it’s probably going to be more advantageous for you to file individually. You also need to understand that when you file bankruptcy near Clearwater while in the midst of getting a divorce, an automatic stay will place a hold on the property division process. The hold will remain in effect until the end of your bankruptcy. Chapter 7 Bankruptcy vs. Chapter 13 BankruptcyChapter 7 bankruptcy is a liquidation process that’s designed to eliminate your unsecured debts (e. g. , credit cards, medical bills). With a Chapter 7 bankruptcy near Clearwater, you’ll receive a discharge in a few months, making it quick and easy to complete prior to getting a divorce. On the other hand, a Chapter 13 bankruptcy will last between three to five years since you have to pay back part of your debts through a repayment plan. Therefore, with this type of bankruptcy, it’s better to file separately after you start the divorce process. Income Qualifications for Chapter 7 Bankruptcy near ClearwaterAnyone who chooses to file for Chapter 7 should take their income into consideration. To file jointly, you must consider your combined income. If your joint income is too high, you may not be able to pass the Chapter 7 bankruptcy means test. In this case, you wouldn’t qualify to file for a Chapter 7 bankruptcy. It doesn’t mean that you can’t qualify on your own, though. This is because the income limits are based on your household size, which means that a household of... --- - Published: 2023-09-05 - Modified: 2023-09-05 - URL: https://www.jayweller.com/bankruptcy-attorney-in-beverly-hills/ If you need a bankruptcy lawyer in Beverly Hills or the Citrus County area, Weller Legal Group is here to help. Mr. Jay Weller of Weller Legal Group has over 30 years of experience in bankruptcy law and Weller Legal Group is regarded as one of the most premier law firms in the Citrus County area. Our bankruptcy attorneys can assist you with Chapter 7 bankruptcy, Chapter 13 bankruptcy, and debt settlements in Beverly Hills or the Citrus County area. Chapter 7 bankruptcy is also referred to as a straight bankruptcy or a straight liquidation. Usually this form of bankruptcy is pretty straight forward and the entire process can be finished within 4 to six months. In a Chapter 7 bankruptcy, the debtor is seeking to discharge all of his or her unsecured debts. These unsecured debts can include anything from credit cards, signature loans, medical bills, and more. Unfortunately, student loans are generally not discharged in a bankruptcy. However, if the debtor can establish that the student loans present an “undue hardship”, he or she may receive a discharge of student loan obligations in bankruptcy. In some cases, taxes and monies owed to governmental taxing entities, may be discharged in a bankruptcy. There are also income requirements in order to be allowed to file a Chapter 7 bankruptcy. The allowable income will depend on your household size which can be discussed with the bankruptcy attorney. Chapter 13 bankruptcy is also known as a debt consolidation or debt reorganization. With this form of bankruptcy, the debtor is looking to consolidate most or all of his or her debts into an affordable monthly payment to be paid over a maximum of sixty (60) months. A benefit of filing for Chapter 13 bankruptcy is that this can stop home foreclosures, garnishments, and repossession of automobiles. In certain cases, the debtor may be able to significantly lower their monthly automobile payments depending on the length of time they owned the vehicle. All the details can be discussed with one of our bankruptcy attorneys or Mr. Jay Weller. Debt settlements can be an option if you have your heart set on not filing for bankruptcy. With a debt settlement, Weller Legal Group will negotiate on your behalf with your creditors. We will then try to come up with an affordable one-time payment that will settle your account with that creditor. The benefit of a debt settlement is that the process can be pretty fast compared to a bankruptcy and you may notice your credit score increase over time after a successful settlement deal. Something to keep in mind is you must have the funds readily available in order to make the one-time payment. If you do not have funds readily available then debt settlements may not be an option for you. Among bankruptcy attorneys in Beverly Hills, Florida and the Citrus County area, Mr. Weller and Weller Legal Group are considered one of the premier attorneys in this area of practice. Mr. Weller has... --- - Published: 2023-08-29 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy-lawyer-in-lecanto/ Experienced bankruptcy attorneys in Lecanto, Florida and Citrus County are hard to find. Mr. Jay Weller and Weller Legal Group are one of the longest standing law firms in the Citrus County area that almost exclusively practices bankruptcy law. We have filed over 40,000 cases and can help clients with Chapter 7 bankruptcy, Chapter 13 bankruptcy, and debt settlements in Lecanto, Florida or the Citrus County area. Many of our clients that seek bankruptcy protection will file either Chapter 7 bankruptcy or Chapter 13 bankruptcy. In order to file a Chapter 7 bankruptcy, also known as a “straight bankruptcy”, the debtor must make less than the median income which will vary depending on the size of your household. If you qualify for Chapter 7 bankruptcy, the debtor can usually discharge the majority or even all of his or her unsecured debts. These unsecured debts may include, credit cards, medical bills, and signature loans. In certain cases, you may be able to exempt and keep your car even if you file Chapter 7 bankruptcy, this will have to be discussed during a call with one of our attorneys. Student loans are not usually able to be discharged in a bankruptcy. However, it is possible if the debtor can establish that the student loans present an “undue hardship”, he or she may be able to receive a discharge of student loans but is highly unlikely. Another popular form of bankruptcy protection in the United States is Chapter 13 bankruptcy. A Chapter 13 bankruptcy may be a good option if you are earning over the median household income which disqualifies you from filing a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, the main goal is to come up with an affordable monthly payment that will be distributed to your creditors. Filing for bankruptcy can also stop home foreclosures, wage garnishments, and the repossession of automobiles. In certain cases, we may be able to lower the amount owed on automobile loans if you have owned the vehicle for at least 910 days, but this would have to be discussed with one of our bankruptcy attorneys or Mr. Jay Weller. Chapter 13 bankruptcy can be a good way to consolidate all your debt into one affordable monthly payment which is why this form of bankruptcy is commonly referred to as a “debt consolidation. ” If you are determined not to file bankruptcy, then we can look into an alternative option which is to proceed with a debt consolidation. In many cases we are able to negotiate with your creditors for a one-time lump sum payment to clear your current balance with your creditors. Something to keep in mind is that creditors are not obligated to accept debt settlement offers, but in many cases, they are open to negotiations. One major benefit of a debt settlement is that your total debt will go down after you settle your debt which should help your credit score improve over time. In Citrus County, experienced bankruptcy attorneys can... --- - Published: 2023-08-28 - Modified: 2023-08-28 - URL: https://www.jayweller.com/money-saving-tips/ It's a common misconception that you need everything to be perfectly aligned before you can start saving money, but this is not the case. In fact, if you wait for the “right time,” it’ll never happen. That’s why the best time to start saving money is right now. Fortunately, there are a lot of straightforward strategies that you can use to save money. Here are some that you may not have even thought of before. Cut down on your grocery budget. After you put together your budget, you may be like many other people who are really shocked to see just how much money they spend at the grocery store each month. For instance, did you realize that most American families with four people in them spend around $966 on groceries each month? This is because it’s really easy to walk through the aisles and grab a few additional items, then grab a few fun items at the register while you’re checking out. Unfortunately, these little purchases add up quite fast and end up blowing your budget. Hence, they’re known as “budget busters. ” Buy generic. One of the easiest budgeting tips is to replace brand names with generic items instead. Typically, the only thing that’s better about a name brand is how it’s marketed. This is especially true for things like over-the-counter medicine, staple food items (e. g. , rice, beans), cleaning supplies, and paper products, Adjust your tax withholdings while living near Tampa. If you’re receiving a large, unexpected yearly refund from your taxes, you need to adjust your paycheck’s withholdings. Doing so will allow you to bring home more money each month. It also ensures that you don’t give the government any more of your hard-earned money than necessary. Ask about discounts and pay in cash. You never know if you can get a discount until you ask, which is why you should always ask whenever you go to a museum, sporting event, or the movies. You never know unless you ask whether they offer special discounts for things like being a student, teacher, senior, military member, or having a AAA membership. If not, you can always see if you can pay less if you pay in cash. Try a spending freeze. One of the most challenging budgeting tips you can undertake is to not buy any nonessential items for a week or a month. While doing so, you should also spend a few minutes each day considering what you’re grateful for. This is a great way to stop buying things just because you want them. Check out YouTube and DIY. Before you pay someone to do some work around your home, take a moment to consider doing it yourself. Usually, you’ll be able to spend a few minutes on YouTube, buy your own materials, and save a lot of money since you aren’t paying someone to do something you can do yourself. If the project still looks too daunting, then consider asking a friend or neighbor... --- - Published: 2023-08-21 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy-attorney-in-homosassa/ If you need a reputable bankruptcy attorney in Homosassa, Florida or the Citrus County area, then Weller Legal Group may be your best option. Mr. Jay Weller and Weller Legal Group have over 30 years of experience assisting clients through the bankruptcy process. Over the years, Mr. Weller has filed over 40,000 cases and helped clients get a fresh new start. Filing bankruptcy is nothing to be ashamed about and it can be a great start to getting your financial health back on track. Mr. Weller and Weller Legal Group are able to assist with Chapter 7 bankruptcy, Chapter 13 bankruptcy, and in certain cases possibly debt settlements. Weller Legal Group is an experienced law firm in Homosassa, Florida that can navigate you through the entire bankruptcy process in Citrus County. In America, the two common forms of bankruptcy for individuals or married couples to file are Chapter 13 and Chapter 7 bankruptcy. Each forms of bankruptcy have pros and cons that you should consider and can be discussed with one of our attorneys. In many cases if your household income is too high, you will not be able to qualify for a Chapter 7 bankruptcy and will then have to go down the path of a Chapter 13 bankruptcy or possibly look into debt settlements. If you are able to qualify for a Chapter 7 bankruptcy, also known as a “straight bankruptcy,” normally you can eliminate most of your unsecured debts including, credit cards, signature loans, and medical bills. With a Chapter 13 bankruptcy, the debtor will have to make monthly payments to help repay back a portion of the debts that are owed. This is why a Chapter 13 bankruptcy is commonly referred to as a “debt reorganization,” which helps the debtor come up with an affordable monthly payment. Most of the time the agreed payment plan will be over the course of a maximum of sixty (60) months. A benefit of filing Chapter 13 bankruptcy is that it can stop foreclosures and car repossessions, at least in the short term with what is known as an “automatic stay. ” Another option that we can look into is a debt settlement. This could be a great path is you are determined not to file bankruptcy. Something to keep in mind is that creditors are not required to accept a settlement offer, but many of them are open to negotiation. If you decide to hire us to represent you in a debt settlement case, we will negotiate with your creditor on your behalf to come up with a mutually beneficial one-time payment to your creditor to clear your debt balance with them. Debt settlements can be a great option if you have some savings that can be used to pay off debt balances for usually much less than the total amount owed to the creditor. In Homosassa, Florida and Citrus County, Mr. Jay Weller and Weller Legal Group is considered one of the most premier law firms in the... --- - Published: 2023-08-14 - Modified: 2024-07-12 - URL: https://www.jayweller.com/why-diy-bankruptcy-is-a-bad-idea/ Bankruptcy is a complex legal process that has a lot of laws and procedures that may feel overwhelming if you aren’t properly trained to deal with them. Nevertheless, some people are still choosing to file for bankruptcy without help from a lawyer. This is known as “pro se” or DIY bankruptcy. While a DIY bankruptcy may appear to be a great option (especially if you want to save money by not paying for a bankruptcy attorney in Tampa), you need to understand the risk you’re taking and the pitfalls you may encounter here. There’s a lot of room for errors. Whenever you decide to file bankruptcy, there are several forms you must complete and submit to the court. This includes detailed information regarding your assets, debts, income, and expenses. You’ll need to be very detailed and accurate here. Any errors could lead to your DIY bankruptcy being denied by the court. The Means Test is complicated. Before filing for Chapter 7 bankruptcy, you must determine if you have a low enough income to file bankruptcy under this chapter. To do so, you must compare how much you make each month to your state’s median income. While doing so, you need to also consider your expenses and secured debt payments. Negotiating with creditors isn’t always possible. A bankruptcy attorney in Tampa does more than simply guide you through the process of filing for bankruptcy. They’re also responsible for negotiating with your creditors. For instance, in a Chapter 13 bankruptcy, your bankruptcy attorney in Tampa will negotiate your repayment plan to ensure that it’s manageable. It’s easy to miss deadlines with a DIY bankruptcy. When you file for bankruptcy, you’re faced with a lot of deadlines. You’re also required to fulfill certain obligations (e. g. , credit counseling, debtor education). If, for some reason, you miss one of these deadlines or overlook any of the court’s requirements, you may have your whole case dismissed by the court. The process is stressful and time-consuming. When you file bankruptcy, you’ll find yourself under a lot of stress, even when you’re working with a bankruptcy attorney in Tampa. With a DIY bankruptcy, you’re faced with even more stress. This is because it takes a lot of time and effort to understand and navigate the legal system. Additionally, there’s the emotional toll you’re under when dealing with the court, your creditors, and the Trustee who’s assigned to your case. You’re less likely to be successful with DIY bankruptcy. According to several studies, the success rate of a Chapter 13 bankruptcy that isn’t filed with the help of a bankruptcy attorney in Tampa is much lower than if you have legal representation when you file bankruptcy. Hiring a bankruptcy attorney in Tampa ensures the process goes smoothly. Save yourself all this hassle by hiring an experienced bankruptcy attorney. This should be the first step you take when you decide to file a case. Their solid guidance will help you determine which of the many types of bankruptcy... --- - Published: 2023-08-13 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy-lawyer-in-inverness/ If you are requiring a bankruptcy attorney in Inverness, Florida or Citrus County, then Mr. Jay Weller and Weller Legal Group may be your best option. We are able to assist you with Chapter 7 bankruptcy, Chapter 13 bankruptcy, and debt settlements. Experienced bankruptcy attorneys in Citrus County are hard to find, Mr. Jay Weller is one of the most experienced bankruptcy lawyers in Inverness, Florida that almost exclusively practices bankruptcy law. The two most popular forms of bankruptcy protection in the United States are Chapter 7 bankruptcy and Chapter 13 bankruptcy. In a Chapter 7, also known as a “straight bankruptcy”, the debtor is seeking to discharge all of his or her unsecured debts, which can include credit cards, signature loans, and medical bills. It is also possible to discharge monies owed that exceeds their insurance coverages and reinstate their automobile license. Unfortunately, student loans are usually not discharged in a bankruptcy. However, if a debtor can establish that the student loans present them with an “undue hardship”, it may be possible to receive a discharge or elimination of student loans through the bankruptcy. In certain cases, taxes and monies owed to governmental taxing entities, may possibly be discharged in bankruptcy. One of our bankruptcy attorneys can help explain to you how the laws pertaining to bankruptcy in the United States operate. Chapter 13 bankruptcy is also known as a debt consolidation or debt reorganization. In a Chapter 13 the debtor seeks to consolidate his or her debts, over a maximum of sixty (60) months. Chapter 13 bankruptcy is often used to stop foreclosures on homes, repossession of automobiles, and garnishments by the internal revenue service. In many cases, the debtor may be able to lower his or her monthly automobile payments and other secured and unsecured debts. Debt settlements is another option for you depending on your current finances. With a debt settlement, Weller Legal Group can negotiate on your behalf with your creditors to come up with a one-time payment to eliminate your debt to that creditor. In many cases, it is possible for us to negotiate debt settlements with your creditors for much less than what you owe to your creditors. If you don’t want to file bankruptcy, debt settlements may be a good option if you have enough finances to make a one-time payment to settle your debt with creditors. There are no guarantees that the creditor will accept a debt settlement, but in certain cases it is possible to settle your debts for a reasonable one-time payment. Something to keep in mind, if you are able to settle your debt, your credit score may increase in the future due to your debt to income ratio improving. Among bankruptcy attorneys in Inverness, Florida, Weller Legal Group is considered one of the premier bankruptcy lawyers in Citrus County. If you live in Inverness, Florida or Citrus Country, and need assistance or counsel in handling your creditors, Weller Legal Group is ready to help. We can help... --- - Published: 2023-07-24 - Modified: 2024-07-12 - URL: https://www.jayweller.com/a-short-history-of-bankruptcy/ The etymology of the term "bankruptcy" is commonly believed to derive from a combination of two Latin words: "bancus" (table or bench) and "ruptus" (broken). The theory suggests that a public banker, upon failing to meet financial obligations, would have his bench—where transactions took place—broken as a symbol of his inability to negotiate and fiscal failure. This practice was widespread in Medieval Italy, leading many to attribute the term "bankrupt" to the Italian phrase "banco rotto," translating to "broken bank. " Alternatively, some attribute the origin to the French phrase "banque route," meaning "table trace," which symbolizes a similar concept. Early Federal Bankruptcy LawsEarly federal laws having to do with filing Chapter 7 or filing Chapter 13 bankruptcy in the US were merely band-aid solutions to unfavorable economic circumstances. Early US federal laws having to do with filing Chapter 7 or filing Chapter 13 were only stopgap measures for a collapsing economy: The first official law regarding when someone would file bankruptcy was enacted in response to land speculation in 1800 and swiftly overturned in 1803. This law contained a clause that allowed for the cancellation of unpaid debts when you file bankruptcy. Only a small amount of debt could be discharged under the laws of 1800 and 1841, and the first law to provide corporate protection was the law of 1867. Current Bankruptcy Laws Regarding How to File BankruptcyIn the United States, current laws and procedures regarding filing Chapter 7 or filing Chapter 13 place more of an emphasis on assisting struggling debtors in getting back on their feet than on punishing them. New laws regarding filing Chapter 7 or filing Chapter 13 were created because of the Great Depression's economic upheaval, most notably the Bankruptcy Acts of 1933 and 1934. In a 1934 ruling, the U. S. Supreme Court stated that the primary goal of bankruptcy laws was to give debtors a "fresh start" from their financial obligations. The Supreme Court argues in Loan v. Hunt in Local that bankruptcy gives the honest, unfortunate debtor a new opportunity in life and a clear field for future effort, unhindered by the discouragement and pressure of preexisting debt since they could file bankruptcy. The Chandler ActThe legislation that started it led to the Chandler Act of 1938, which had significant provisions for corporate restructuring when a company would file bankruptcy. The legislation's pinnacle was the Chandler Act of 1938, which had significant provisions for corporate restructuring. Additionally, the Bankruptcy Act's Section 60e was passed by Congress in 1938. It introduced the concept of a single, distinct fund and was intended to lessen customer losses by giving priority to customer claims over those of general creditors. Significant turmoil in the securities market in 1969 and 1970 led to the voluntary closures, mergers, receiverships, and bankruptcies of a sizable number of brokerage firms. Congress responded by passing the Securities Investor Protection Act of 1970, plus dealers, to halt the filings, restore investor confidence, and tighten the requirements for registered brokers' financial responsibility.... --- - Published: 2023-07-20 - Modified: 2023-07-20 - URL: https://www.jayweller.com/bankruptcy-attorney-in-pine-ridge/ Reputable bankruptcy attorneys in Pine Ridge, Florida and Citrus County can be hard to find. We at Weller Legal Group have over 30 years of bankruptcy experience and can help you with your Chapter 7 bankruptcy, Chapter 13 bankruptcy, or debt settlement cases. Over the last 3 decades we have filed over 30,000 cases and have debtors best interests in mind. Weller Legal Group is one of the oldest remaining bankruptcy law firms in Pine Ridge and Citrus County and we are ready to help you with your bankruptcy needs. The first form of bankruptcy we will discuss is a Chapter 7, which is also known as a “straight” or “liquidation” bankruptcy. A Chapter 7 bankruptcy is usually better for those with lower incomes and larger household sizes. For example, if your household size is 4 people and your yearly income is a total of only $20,000 then you would most likely be a good candidate for Chapter 7 bankruptcy protection. Of course this can all be discussed with one of our bankruptcy attorneys or Mr. Jay Weller to see if you qualify for a Chapter 7 bankruptcy with what is known as a “means test. ” In a Chapter 7 bankruptcy, the debtor is looking to discharge all or most of his or her unsecured debts, which may include credit cards, signature loans, medical bills, and more. The entire process is usually pretty quick and can be finished within 6 months in most cases. When it comes to a Chapter 13 bankruptcy, which is also known as a “debt consolidation”, the process is a lot longer. With a Chapter 13, the debtor is looking to come up with an affordable monthly payment plan to be made over the span of a maximum of sixty (60) months to help repay back debts owed to their creditors. If the debtor makes all payments on time over the course of the Chapter 13 plan, then the debts will be discharged after all payments have been fulfilled over the course of the plan. Bankruptcy can also be utilized for protection to stop foreclosure on homes or the repossession of automobiles with what is known as an “automatic stay” which goes into effect after the bankruptcy petition is filed. Debt settlements may be a good option for you to consider if you have some cash in your savings account. We can negotiate with your creditor or creditors on your behalf to come up with a one-time payment that will clear your debt with them. Something to keep in mind is that creditors are not required to accept a debt settlement offer. With this being said, we at Weller Legal Group have seen many of our clients settle debts for much less than they owed with our help. Debt settlements can be great because the process is usually pretty fast and it’s a really nice feeling to see those big debt balances being cleared up. Among bankruptcy attorneys in Pine Ridge, Florida, Mr. Weller and... --- - Published: 2023-07-18 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy-attorney-in-citrus-springs/ Reputable bankruptcy attorneys can be hard to find in Citrus Springs, Florida and the Citrus County area. We at Weller Legal Group are heavily experienced in bankruptcy law and our law firm has filed over 40,000 cases spanning across 3 decades. If you are struggling financially and are considering filing for bankruptcy, we will be happy to assist you with your case in the city of Citrus Springs or the surrounding Citrus County territory. When it comes to bankruptcy, the two most common forms are Chapter 7 bankruptcy and Chapter 13 bankruptcy. In a Chapter 7, the debtor is seeking to discharge all of his or her unsecured debts. These debts can include high interest credit cards, medical bills, signature loans, and more. The debtor can usually keep his or her Homestead and automobile in a Chapter 7 bankruptcy, but this matter would have to be discussed in detail with Mr. Weller or one of our attorneys. Debtors can also have the option to surrender a vehicle if they so choose, especially if the car does not have any positive equity. Another benefit of a Chapter 7 is that the entire process can be completed within 4 to 6 months, compared to a Chapter 13 which may span over a maximum of sixty (60) months. Not every family will be able to qualify for Chapter 7 bankruptcy. There are numerous factors to be considered, one main factor is the allowable income limit in comparison to the family size as determined by the Means Test. Chapter 13 bankruptcy may be a great option if you do not qualify for a Chapter 7. In a Chapter 13 bankruptcy, the debtor is looking to come up with an affordable and reasonable monthly payment to help repay back creditors. This is why Chapter 13 is also called a “reorganization bankruptcy”, or even a “wage earner’s bankruptcy. ” Another benefit of filing for Chapter 13 bankruptcy is that it can be used to temporarily stop foreclosures on homes and the repossession of vehicles with what is known as an “automatic stay. ” Depending on how long you have owned your car, we may even be able to lower the total amount owed on the vehicle. If you are not looking to filing bankruptcy in Florida, we may go down the path of debt settlements instead. With a debt settlement, we will negotiate with your creditors on your behalf to come up with a reasonable one-time payment to settle your debts with them. Be aware that creditors are not obligated to come up with a settlement agreement, but in many cases, we have helped clients come up with settlement deals for much less than the total amount owed. In order for a settlement deal to be possible, you must have the funds readily available so that Weller Legal Group can start the debt settlement negotiations with your creditor or creditors. Mr. Jay Weller is an experienced bankruptcy attorney that can assist residents located in Citrus Springs,... --- - Published: 2023-07-11 - Modified: 2024-11-01 - URL: https://www.jayweller.com/tips-to-help-with-early-retirement/ Everyone's definition of retirement is unique, and there is no one definition that’s correct. However, the one thing that everyone can agree on is that the first step toward being able to retire early is debt management. Clarify your early retirement goals. There’s no single retirement strategy that works for everyone. This is why it’s crucial to determine what your vision of retirement is. You might be able to change your spending and saving habits by understanding how your current financial situation relates to your financial goals. To determine this vision, you’ll need to ask yourself a few things: What’s causing me to want to retire early? How do your objectives and interests affect your retirement plans? How do you want to spend your retirement? Is your goal to stop working altogether? Do you want to continue working part-time just so you have more free time to spend with your loved ones? Do you feel at ease saving money and making compromises? (If you answer “no” to this, you'll need to save money faster than someone who’s content with living on a tight budget. ) Set a financial goal. To retire at the age of 67, experts generally advise saving 10 times your annual income. However, if you want to retire sooner, you'll need to save more money than this. If you aren’t sure what amount of money you should try to save, you should take a moment to learn about the Financial Independence Retire Early (FIRE) movement.  With this program of extreme savings, investments, and debt management, you’ll have a solid guide toward early retirement. Remember the value of fixed-income earnings. Knowing whether you qualify for any fixed income sources is also useful. You can create an early retirement budget by having an idea of when and how much you might receive from these payments. According to the Social Security Administration (SSA), retirement income typically consists of the following: Social Security advantages Pension benefits Personal investments and savings (which is why debt management is so important) Create a savings strategy. An excellent tool for early retirement planning is a budget. Having one can also make managing your finances after retirement easier. To create a budget that fits your lifestyle, you should start by evaluating your current financial situation, especially things like: Your monthly salary Housing expenses Food, transportation, and entertainment costs Costs associated with transportation (e. g. , gas, car loans, car insurance) Debts (e. g. , student loans) Costs associated with health insurance Adhere to your financial strategy, but make sure it’s flexible. Early retirement requires focus and solid debt management, so it's beneficial to monitor things so that you can make adjustments as necessary. You may be able to keep tabs on your spending patterns or track the progress of your investments and savings by using a financial planning tool. To create a sustainable plan that ties your present spending and way of life to your financial objectives, you might even think about consulting with a financial... --- - Published: 2023-06-26 - Modified: 2024-11-01 - URL: https://www.jayweller.com/how-to-deal-with-bankruptcy/ Experiencing bankruptcy is typically a substantial financial hurdle, profoundly impacting the lives of those who go through it. You and your family may be going through this difficult experience and trying to find coping strategies and ways to make it more manageable. While there are often things that could have prevented bankruptcy, this is not always the case, and there are various external factors that often come into play. Whatever the circumstances, dealing with bankruptcy and its challenges can be difficult, and there are various things that could help you to manage this process better in Tampa. Here are some of the ways you can deal with bankruptcy in a more effective way. Hire an AttorneyHiring a bankruptcy attorney could be one of the most valuable things you do if you have had to declare bankruptcy. Having regular access to legal advice can prove to be essential when you are navigating the difficulties that come with this experience. Rather than trying to work out the best approaches yourself, you can lean on the support of a reputable bankruptcy attorney. It can take some of the stress and worries away from this process and help you to feel more supported as you tackle these financial challenges. Create a Plan for the FutureYou might be focused on the struggle of here and now, but you are also likely to be thinking and worrying about the future too. If you’ve accepted that bankruptcy is inevitable, it is time to think ahead and begin creating a better plan for the future. Avoid thinking in the short term and expand your horizons to the years ahead. This can help you to retain focus during a challenging time and work out a strategy that helps you feel like the situation will get better. This can be a critical part of dealing with bankruptcy, particularly for people who are thinking a lot about what their financial future might hold. Start Rebuilding Your CreditYour credit score will take a big hit after bankruptcy, so rebuilding this will be important for your long-term financial future. You can learn from mistakes in the past and use this learning to avoid further problems in the future. Steps to rebuilding your credit score should include paying off any debts on time, using credit cards responsibly, and ensuring you are always budgeting to stay within your limits. Get as much advice as possible from financial advisors or your bankruptcy attorney, who can provide more information on how you can rebuild your credit score after bankruptcy. Maintain Your JobMaintaining a stable income is one of the most important things you can do to keep some financial stability and a sense of normalcy when declaring bankruptcy. As long as you have an income, it is likely that you will be able to cover your essential expenses and maintain a sense of normal lifestyle. Prioritize maintaining your job and use this to help you ride the storm of bankruptcy over the coming months. Where possible and... --- - Published: 2023-06-12 - Modified: 2024-07-12 - URL: https://www.jayweller.com/should-you-hire-a-bankruptcy-attorney-or-complete-debt-consolidation/ It can be very difficult and time-consuming to resolve your financial situation. Many believe that debt consolidation is the way to go, but for others, it makes sense to hire a bankruptcy attorney. So how do you know if you should pursue debt consolidation or hire a bankruptcy attorney? Let us be the first to say that there are many pros and cons to each one. Here we will take a deeper look into which decision may be best for you. Consolidating debt includes applying for a loan or line of credit to pay back this obligation under fresh and possibly more propitious conditions. It will not affect your credit score too much. Insolvency, on the contrary, could give you a fresh slate, but it might likewise harm your credit score for quite some time. Debt consolidation is a method of repaying various liabilities from an assortment of creditors with one fresh loan. These loans are a specific kind of individual loan which are frequently utilized to combine obligations without typically requiring collateral. Theoretically, the newer liability will have a decreased interest rate than the liabilities being combined under it, which will assist in lowering the total amount of payment. Individuals do not require a precise debt consolidation loan to take part in consolidating their obligations. Some individuals will decide that a balance transfer on their charge card is a better option for them. This may be the ideal answer for the consolidation of consistent liability. With this approach, one can move all their personal charge card balances to a fresh card with a decreased rate or a no-interest intro duration. Nevertheless, one will be required to pay back the full balance within this initial term to dodge interest on the leftover amount. Fixed individual loans are offered by creditors using primary collateral, such as existing certificates of deposit or savings account balances. As collateral is used, these loan types will often have a lower interest rate too. Bankruptcy is the process of seeking out relief for debts that you cannot afford to pay. This is done through a court, often with the help of a bankruptcy attorney. There are a few different types of bankruptcies, such as Chapter 7 and Chapter 13. Chapter 7 is a precise approach to bankruptcy that has an outcome in a borrower’s taxable resources being sold to settle their current liability. Should there be no property, or the capital amount isn’t the same as the whole obligation, the slate will still be wiped fresh. In Chapter 13, insolvency, the objective is to rearrange the liability into a three-to-five-year settlement schedule. This will provide total liabilities while permitting a debtor to maintain possession of the property. Chapter 13 insolvency may remain on a credit report for up to seven years. If you are not certain what you would qualify for, a bankruptcy attorney can help you decide. A bankruptcy attorney will be able to help you look at your credit score, how much debt you... --- - Published: 2023-06-08 - Modified: 2024-07-12 - URL: https://www.jayweller.com/bankruptcy-attorney-in-crystal-river/ If you need a bankruptcy lawyer in Crystal River, Florida or Citrus County, then Mr. Jay Weller and Weller Legal Group are here to help. Mr. Weller has over 30 years of experience in Florida bankruptcy law and has filed over 40,000 cases. Weller Legal Group is able to assist you in debt settlements, Chapter 7 bankruptcy, and Chapter 13 bankruptcy cases. Mr. Jay Weller is an experienced bankruptcy attorney in Crystal River, Florida who can help you through the entire bankruptcy process from start to finish in Citrus County. The two common forms of bankruptcy in the United States are Chapter 7 and Chapter 13 bankruptcy. Chapter 7 bankruptcy is also commonly known as a “straight bankruptcy” or a “liquidation bankruptcy. ” Chapter 7 is beneficial for individuals who are carrying a significant amount of unsecured debts, for example, credit cards or signature loans. In many cases, a Chapter 7 bankruptcy can discharge both medical bills and monies owed that have exceeded insurance coverages in automobile accidents. Student loans are usually not able to be discharged unless the student loans present an “undue hardship”, it can be possible to discharge but not likely. The second common form of bankruptcy in the United States is a Chapter 13 bankruptcy. Chapter 13 bankruptcy is commonly known as “debt reorganization” or “debt consolidation. ” With a Chapter 13 bankruptcy, the debtor is seeking to consolidate their debts into affordable monthly payments over a maximum of sixty (60) months. Chapter 13 bankruptcy can also be used to temporarily stop home foreclosures and car repossessions, which is known as an “automatic stay. ” Filing bankruptcy can be a great way to stay in your home if you think you are at risk of getting foreclosed on in the near future. If you do not want to file bankruptcy in Florida, we may be able to assist you with a debt settlement. Weller Legal Group can negotiate on your behalf with your creditors to come up with a mutually beneficial one-time payment. In many cases we can help settle your debt with your creditors for much less than you owe, of course, you will have to have sufficient funds available to make the lump sum payment. The creditor is not required to settle a debt, but in many cases, they are willing to work with debtors to come up with a rational one-time payment to clear your balance with them. In Crystal River, Florida, and Citrus County, Weller Legal Group is considered one of the most experienced bankruptcy law firms in the area. We have filed more than 40,000 cases and are ready to handle your bankruptcy case in Florida. Our attorneys and paralegals are ready to assist you, whether it be Chapter 7 bankruptcy, Chapter 13 bankruptcy, or a debt settlement case. Contact us today to speak with a bankruptcy lawyer in Crystal River, Florida, or Citrus County at 1-800-407-3328 (DEBT). If you prefer to contact us online, we can be reached through our... --- - Published: 2023-05-14 - Modified: 2024-07-12 - URL: https://www.jayweller.com/navigating-financial-hardships-in-pickleball-coaching-a-bankruptcy-attorneys-playbook/ In the competitive world of pickleball coaching, financial stability can sometimes be as elusive as a perfect serve. For coaches who find themselves struggling with debt or financial missteps, the prospect of bankruptcy can loom large. But with the right strategies and legal guidance, financial recovery is not only possible but can also be a new beginning. The Financial Game Set Pickleball coaches often operate as small business owners or independent contractors, which comes with financial risks. Unpredictable income, irregular client engagement, and the costs of equipment and facility rentals can create a precarious financial balance. When external factors, such as an economic downturn or a global pandemic, come into play, coaches may find themselves in a tight spot, with mounting debts that seem insurmountable. Debt Strategy and Avoidance Prevention is the key. Diversifying income streams can shield coaches from complete disaster when one revenue source dries up. Offering virtual coaching sessions, creating instructional content, and engaging in brand partnerships can provide alternative income avenues. Maintaining a solid financial buffer is also critical. Financial experts often recommend having an emergency fund that can cover at least three to six months of expenses. Legal Insights on Bankruptcy When financial troubles go beyond what emergency funds and budget adjustments can fix, a bankruptcy attorney can offer a game plan. They can clarify misconceptions – for example, that bankruptcy equates to financial ruin – and provide a realistic assessment of one's situation. There are different "plays" in the bankruptcy playbook. Chapter 7 bankruptcy can offer a fresh start by discharging eligible debts, while Chapter 13 involves restructuring debts into a manageable repayment plan. The right choice depends on various factors, such as income level, assets, and long-term financial goals. The Recovery Rally The process of filing for bankruptcy can be complex, but it’s a strategic move that can offer relief and a structured path to regaining financial health. It’s not the end of the line; it’s a tactical reset. A bankruptcy attorney can navigate the legal courts with the same finesse as a coach on the pickleball court, turning a challenging match into a win. Success Stories and Second Chances There are numerous accounts of coaches who, after filing for bankruptcy, returned to their passion with renewed vigor and a more sustainable business model. These stories serve as a testament to the resilience of the human spirit and the power of expert guidance. Conclusion: Game, Set, Match Financial hardships can hit anyone, even the most dedicated pickleball coaches. However, the key is not to view bankruptcy as a defeat but as a strategic play toward a more stable future. With professional advice and a willingness to adapt, coaches can navigate through financial adversity and continue to inspire players on the court. In the world of pickleball and finance, a strategic pivot can turn a potential loss into a triumphant comeback. With the guidance of a bankruptcy attorney, coaches can learn from the past, plan for the future, and keep their passion for the... --- - Published: 2023-05-01 - Modified: 2024-07-12 - URL: https://www.jayweller.com/advice-negotiating-with-credit-card-companies-from-a-bankruptcy-attorney/ Did you know that the average credit card balance in the U. S. is over $5,000? It's no wonder why many individuals seek advice from a bankruptcy attorney to help them manage their finances. If you're in a similar situation, negotiating with your charge card company is one way to get ahead. It's important to know that continuous use of charge cards can easily spiral out of control. Before you know it, you may struggle to afford credit card payments or end up using your card to pay for other bills. If you're unable to pay off your debt, contemplate contacting your creditor to negotiate the total owed. One may be surprised at how many charge card companies are willing to negotiate with you. This is because charge card debt is unsecured, meaning your home or vehicle isn’t at risk as it would be with a mortgage or auto loan. One would be surprised at how many charge card companies are willing to mediate with you. Perhaps you are wondering why they would do this for you. One of the biggest reasons is that one's debt through charge cards is not secure. Therefore, your home or vehicle is not at risk as it would be if you possess a mortgage or an auto loan. However, a bankruptcy attorney will tell you that not paying your charge card bill will harm your credit. Not to mention that the lender may try to sue you if you are not paying. But if you are willing to speak with them about haggling about what you owe, you will have a better chance. This is because creditors know that if you hire a bankruptcy attorney for insolvency, they aren’t going to be capable of recovering any of their money. Yet if they allow one to resolve their debt, they will still get some of their money. As an added benefit to the credit card company, they know that if they negotiate with you, they have a better chance of serving you longer. Before you call the charge card company, first determine what you actually owe them. Be sure to look at what interest you are paying as well. Then think about your position. Are you able to pay a large lump sum at once? Do you have a misfortune that you may be entitled to their hardship program? Or perhaps you are capable of creating a workout agreement work. Before calling, decide what you feel the safest choice is. When making the call to the charge card company, ask to be connected to their hardship department, settlement department, or loss mitigation center. Once you are speaking to one of those reps, let them know what your circumstances are and how you would like to fix them. It is crucial to remain firm but still be polite. A bankruptcy attorney will tell you while you’re speaking to them to take notes. You should also ask for the agreement in writing once both parties are in... --- - Published: 2023-04-12 - Modified: 2024-07-12 - URL: https://www.jayweller.com/strategies-to-manage-financial-stress/ In today’s world, money is important, and many people in Clearwater and beyond are stressed about their finances. In fact, around the world, money and financial resources are some of the common reasons for high-stress levels. It can often feel like an unhealthy bank account naturally creates other health problems, such as anxiety, depression, and unmanageable stress. If you’re worried about money and want to find new ways to manage your financial stress, here are some of the strategies to consider. Create a PlanYou know you’re worried about money, so it’s time to create a plan for how you’re going to reduce your stress and manage any problems. Creating a financial plan can also help you to see clearly whether you are worrying unduly about money or whether there are some important gaps that need to be addressed. You can see clearly how much money you owe and to whom, and it will give you a greater sense of being in control. Once you have this information set out before you, it’s easier to create a plan for how you’re going to reduce debt, save money, and relieve yourself of some of the financial stress. You might not be able to solve all your problems in the next week, but at least you’ve got some clarity on where the specific problems are and how you’re going to tackle them. Don’t Make Your Life All About MoneyMoney is an important part of life, and it can significantly impact where we live, what we do, and how happy we feel. However, it’s important to remember that there are other things in life, too, and there are plenty of things you can do without spending any money. Think about all the things you can do without money, such as spending time with friends and relatives, going for a walk, or enjoying a beautiful sunset in Clearwater. While you should take all the necessary steps to manage your money effectively, it will be much easier to cut down on financial stress if you take your mind off it for a while, too, and remind yourself of the other enjoyable things in life. Share Your WorriesIf you’re stressed about money, and you feel like it is impacting your life and mental health, consider sharing your concerns with somebody you trust. This could be a trusted friend or close relative, or you can consider confiding in a qualified therapist to share your financial worries and find some support through this difficult time. In some cases, you may also wish to speak with a financial professional such as a financial advisor or bankruptcy attorney, depending on your individual circumstances and challenges. Speaking to other people can help to prevent you from spiraling into further worries and stress. Find Information and AdviceIt is important to seek as much information and advice as possible while trying to manage your money and bring down your financial stress. People in significant amounts of debt might need to speak to a bankruptcy... --- - Published: 2023-03-27 - Modified: 2024-07-12 - URL: https://www.jayweller.com/a-guide-to-filing-bankruptcy-in-florida/ Dealing with financial challenges is a part of life. However, if you’re struggling financially, you should know that you aren’t alone. Filing bankruptcy because you’ve lost your job, suffered a catastrophic illness, or had another major life event shouldn’t be embarrassing. While it can be confusing and overwhelming, here are some of the basic things that you should know. How do you qualify to file for bankruptcy? You’re already qualified if you haven’t ever filed for bankruptcy before or the waiting period (something that depends on what chapter you file) is over. There are also some specific chapter qualifications that you must meet, including: Chapter 7: Your family’s gross income must be lower than the median income for the size of a family in the state that you reside in. You can use the Quick Median Income Test or talk to a bankruptcy attorney to determine this. Chapter 13: Filing bankruptcy under Chapter 13 can be expensive because it comes with some additional benefits. To qualify, you’ll need to pay whichever is larger, the value of the nonexempt property, your disposable income, or your priority nondischargeable debt. Which bankruptcy chapter should you file for? Typically, people will file for either Chapter 7 or Chapter 13 bankruptcy. If you’re like most people, you probably don’t know the difference between these. While a bankruptcy attorney can help you determine which type you should file for, here are some things you should know: Chapter 7: There are a few reasons why this is most people’s first choice when filing for bankruptcy. Any bankruptcy attorney will tell you that it’s quick (it only takes a few months to complete) and inexpensive (you don’t pay anything to any creditors). This is a great option if you only have those things that are necessary for living and working (i. e. , no luxury items). However, since there isn’t a payment plan attached to Chapter 7, you won’t have the option to catch up on a late mortgage or car payment, so you may lose these items if you’re behind on their payments. Chapter 13: Unlike Chapter 7, with this bankruptcy, you’ll need to pay your creditors at least some of what you owe them throughout a 3 – 5-year repayment period. While this may not sound great right away, you should know that there are certain benefits you’ll get here that you won’t get with Chapter 7. For instance, you’ll be able to keep all your property even if your home is in foreclosure or your car is about to be repossessed. While you can’t discharge these items, your bankruptcy attorney can help you use your bankruptcy to force your creditor into agreeing to a new payment plan. However, the biggest downside here is that Chapter 13 is expensive – so much so that many people can’t afford its monthly payments. Does filing for bankruptcy erase all the debts you have? While filing bankruptcy will clear many debts (e. g. , credit cards, mortgage, utilities, medical,... --- - Published: 2023-03-15 - Modified: 2024-07-12 - URL: https://www.jayweller.com/how-to-manage-your-mental-health-when-filing-bankruptcy/ While money can’t buy happiness, it can make you feel sad, embarrassed, fearful, and stressed. These emotions may cause you to put off filing bankruptcy, but instead of letting your emotions stop you, remind them that this is a financial strategy that’ll give you a fresh start. Albeit, it’ll take time, and you’ll need to manage your mental health during this time. There are some things you can do to deal with it in a healthy way. Acknowledge the reality of your situation and how it impacts your mental health. This is the first thing you’ll want to do: Make sure that you acknowledge that this is a stressful time in your life. Initially, you may feel guilty for allowing this stress to interfere with your life, but you need to remember that what you’re feeling is normal. Acknowledging how your mental health is doing here will allow you to take in all the information without fear. You don’t have to do this overnight. Instead, make sure you take your time, take care of yourself, and trust that. Eventually, everything will start to make sense. Find supportive people to talk to while filing for bankruptcy. This process takes a while. It’s important for you to have a supportive community around you throughout it. While they may not know exactly what you’re going through, you don’t want to go through this on your own. Talk to you, friends, and family. You shouldn’t be embarrassed about filing for bankruptcy. Other people have also gone through this financial process. So, make sure that you talk to those around you so that you can take good care of your mental health throughout the process. Things are already stressful enough without hiding your emotions from your friends or family – something that’ll only add more stress to your life. By talking about your feelings, you’ll be able to let go of some of this stress. You may even find out that some of your friends or family have been through this process yourself. Find a therapist to talk to. If you really aren’t comfortable talking to your friends or family about filing bankruptcy or if you don’t have anyone to talk to, make sure you reach out to someone. A therapist is a good option here, especially if you can find one who specializes in financial stress-related issues. Not only can they help you with your mental health, but they may also be able to help you find new strategies for managing your finances. Develop a financial plan for after the bankruptcy. It’s a good idea to take this time to create a budget that includes financial goals for your future. While filing for bankruptcy will give you a new start, you want to be stable afterward. Unfortunately, this is something that many people overlook. They fail to realize that creditors will be there after your bankruptcy is over, trying to suck you right back into debt. The best way to deal with them is... --- - Published: 2023-03-02 - Modified: 2024-11-01 - URL: https://www.jayweller.com/bouncing-back-how-pickleball-alleviates-stress-amid-financial-turmoil/ In a world that often correlates financial stability with success, facing bankruptcy can be an emotionally draining ordeal. The stress, anxiety, and uncertainty that accompany financial hardships can take a toll on one’s mental health. However, engaging in recreational activities like pickleball can serve as a remarkable stress reliever during such challenging times. This article delves into the mental health benefits of playing pickleball and its potential to alleviate stress amid financial crises such as bankruptcy. Unveiling the Pickleball Charm Pickleball, a paddle sport that amalgamates elements of tennis, badminton, and table tennis, has witnessed a surge in popularity owing to its social and physical benefits. Its simplicity and the minimal equipment required make it a budget-friendly option for those navigating the rough waters of financial instability. But beyond its low cost of entry, pickleball offers a myriad of mental health benefits that are particularly beneficial during stressful times. The Mind-Body Connection Engaging in physical activities like pickleball triggers the release of endorphins, the body’s natural mood lifters. Moreover, the rhythmic, repetitive nature of the game can foster a meditative state, where financial worries are momentarily set aside, allowing individuals to revel in the present moment. Social Interaction and Support Pickleball is inherently social. At a time when financial woes can foster feelings of isolation and embarrassment, the communal aspect of pickleball provides a sense of belonging. The camaraderie on the court can lead to friendships off the court, creating a support network that can be invaluable during tough financial times. Cognitive Resilience The strategic thinking and quick decision-making required in pickleball can also enhance cognitive resilience. By promoting mental agility and focus, pickleball can help individuals better manage the stress and anxiety associated with financial hardships. A Budget-Friendly Escape For individuals facing bankruptcy or other financial hardships, the cost of recreational activities can be a deterrent. However, pickleball’s low cost provides an accessible outlet for physical exercise and social interaction. It’s an escape that doesn’t exacerbate financial strain. Learning Financial Lessons on the Court Interestingly, the strategies employed in a game of pickleball can mirror those needed to navigate financial hardships. The patience, strategic planning, and adaptability required on the court can translate to valuable financial life lessons off the court. Community Initiatives Several community centers and local pickleball clubs recognize the sport’s potential to foster well-being and have initiated programs aimed at supporting individuals facing financial or other life challenges. These programs often include free or low-cost access to pickleball courts and equipment, making the sport accessible to all, regardless of financial status. Concluding Thoughts Financial hardships like bankruptcy can be incredibly taxing, both emotionally and mentally. However, simple, accessible, and engaging recreational activities like pickleball can offer a much-needed respite. The mental health benefits derived from the rhythmic swings, social interactions, and strategic gameplay of pickleball can serve as a balm for the stress and anxiety that often accompany financial woes. As communities continue to embrace the inclusive and therapeutic nature of pickleball, individuals facing financial hardships... --- - Published: 2023-02-27 - Modified: 2024-11-01 - URL: https://www.jayweller.com/will-my-employer-find-out-if-i-file-for-bankruptcy/ Understandably, there are some things from your personal life that you don’t want to talk to your employer about (e. g. , money, religion, politics). However, there may come a time when you need to file for bankruptcy. When this happens, you may wonder whether your employer will know. The short answer to this question is that more than likely, the fact that you’re filing for bankruptcy will remain a private matter. Of course, every bankruptcy is a public record. It’s quite rare to have a situation where an employer will know that you’re filing for bankruptcy. Of course, there are still sometimes when it’s a cause for concern. If you still have this concern, here’s what you need to know. Employers aren’t notified when you file for bankruptcy. You may be afraid that an official piece of mail will be sent to your employer notifying them of your bankruptcy. Rest assured that there aren’t any official notices like this sent to your employer. While your employer is responsible for paying you the money you’ve earned while working for them, they have no further reach when it comes to your personal financial situation. You’re not responsible for telling your employer that you file for bankruptcy. You may feel even better knowing that you aren’t responsible for telling your employer that you’ve filed for bankruptcy. By law, this is a private financial matter. Of course, there will be a public record made in regard to your filing because it involves a Florida court matter. However, this doesn’t mean that you must tell your employer about it unless you have some type of professional licensing whereby the licensing authority is responsible for reporting a bankruptcy to the licensing board. While you’ll want to check your licensing requirements reporting that you file for bankruptcy typically only occurs when you have a license to work in the financial field. Even then, the licensing board will know, and your employer may never find out. There are a few other ways employers may find out about your filing for bankruptcy. Now that you know the good news about filing bankruptcy and what your employer will either know or find out when you do so, you may still be concerned about whether they’ll ever find out. This question is a little more difficult to answer because there are sometimes when they eventually find out that you chose to file for bankruptcy. These times include:⦁ They’re searching through public records for information regarding their employees. ⦁ The courts have issued either a wage garnishment or a payroll deduction order. ⦁ In the rare likelihood that your employer is also your creditor, they’ll find out. Get help filing bankruptcy in Clearwater, FL. Now that you see that you don’t need to be concerned about your employer learning about your bankruptcy, it’s time to move ahead with your decision. Keep in mind that even if your employer will do finds out, it’s unlikely that it’ll impact your employment. However, it... --- - Published: 2023-02-13 - Modified: 2024-11-01 - URL: https://www.jayweller.com/step-by-step-how-to-file-for-bankruptcy/ The U. S. Bankruptcy Code is a federal statute governing filing bankruptcy. This is done to ensure that the process is similar in the nation’s 90 federal bankruptcy courts. However, local variations and the uniqueness of each case still make this only a general outline which is why you should really hire a bankruptcy attorney. Nevertheless, here’s an outline of the process steps. Choose Which Type of Bankruptcy to File ForThere are a few different types of bankruptcy that you can apply for, each of which a bankruptcy attorney can easily explain to you. However, here’s a basic overview of what they are: Chapter 7 is the most common type. Here you’ll voluntarily turn over your assets to the bankruptcy court. They’ll then spend the next several months selling them so that they can use the money to pay off your creditors. In each state, some assets are exempt. These may include things like cars, pensions, clothing, and home goods. While you may think that filing bankruptcy here is great, you’ll have to pass a Means Test in order to do so. This is to ensure that your income for the past 6 months is less than your state’s median. Chapter 13 bankruptcy requires you to create a repayment plan through which you repay your creditors. Therefore, it’s more complicated and will last 3 – 5 years. Complete the Credit Counseling CourseThis $50 course is required within 180 days of filing bankruptcy. It must be through a government-approved organization. It’s meant to help you decide whether bankruptcy is right for you. There’s also another course you’ll need to take before being discharged to teach you how to budget properly. Complete Court-Required FormsThere are a lot of forms that need to be filled out, which is why many people opt to hire a bankruptcy attorney. All these forms can be downloaded from the U. S. Court’s website. Make sure that you read the instructions, and their details, carefully so that you properly fill everything out and don’t have your case rejected. Pay Court FeesOnce your forms are completed, you’ll also need to pay some court fees (the basic filing fee, a $75 administrative fee, a $15 trustee surcharge, certifying documents, getting copies, etc. ) when filing for bankruptcy. These fees are waived if your income is less than 150% of the poverty level. Filing Bankruptcy Forms with the CourtThis is another part of the bankruptcy process where it’s very helpful to have a bankruptcy attorney. This is because you’ll need to go to your local courthouse to file all your forms. Since the clerks aren’t there to provide you with legal help (that’s what a bankruptcy attorney is for), you’ll want to make sure that your forms are filled out correctly before going. Once your forms are filed and accepted, the court will appoint a Trustee to your case. They’re responsible for overseeing your case and will communicate with you through the mail. Meet with Your CreditorsAlthough you may not need... --- - Published: 2023-02-06 - Modified: 2024-11-01 - URL: https://www.jayweller.com/common-myths-recurring-bankruptcy-and-your-credit/ Your credit score will take a major hit, plummeting over 200 points, when you file for bankruptcy. However, if you have a lot of financial debt, bankruptcy may be the best way for you to liquidate your assets, discard or pay any debts, and get some financial relief. Therefore, when considering bankruptcy, you’ll want to know the truth about it before filing. Negative Information on Your Credit ReportWhile some people will try to tell you that having negative information on your credit report before filing for bankruptcy will mean that you’ll have a lower credit score post-bankruptcy, this simply isn’t true. In fact, positive past payment of your financial debt does very little to impact how your score is affected. Instead, the presence and length of your bankruptcy will have more impact. Bankruptcy on Your Credit ReportIt’s commonly believed that bankruptcy will affect your credit report for ten years after your financial debt has been discharged. This is only true of a Chapter 7 bankruptcy’s public record. All the other references will only stay on for seven years. Bankruptcy’s Affect on Your Credit ScoreMost people also believe that as long as a bankruptcy is on your credit report, you’ll have a poor credit score. While it’s true that your score will be significantly lower once you file for bankruptcy, it’s also true that you can start to rebuild it immediately. With 4 or 5 years of smart credit management, you should have good credit again. Once relieved of your financial debt, you’ll want to: Add new credit (e. g. , secured credit cards, small installment loans) to offset any negative information that’s contained within your credit report. Maintain under 30% utilization on all credit cards. Make sure you pay all your bills on time. Bankruptcy and Your Financial DebtThings like how much debt you have or how many creditors you owe will impact your credit score. This information (e. g. , the amount of debt discharged and the proportion of negative to positive accounts) is included in your credit report. The lower these things are, the higher your score will be. Bankruptcy and Your Credit ReportBankruptcy helps you pay off your financial debt, but the accounts don’t disappear from your credit report. They’ll remain there, affecting your score for 7 – 10 years. Fortunately, their impact lessens over time. Additionally, it’s important to note that you can’t discharge any federal student loans through bankruptcy. You’ll still need to find a way to pay for those. Bankruptcy and New CreditMany people are under the misconception that you can’t get a credit card or loan after your bankruptcy is discharged. Quite the contrary is true. One of the best ways to build your credit is to get a credit card. You may need to start with a secured credit card (one requiring an upfront security deposit), though. There are also loans available that you can get, which are also “secured” (e. g. , passbook, CD, credit builder loans). Lenders are more willing... --- - Published: 2023-01-17 - Modified: 2024-07-12 - URL: https://www.jayweller.com/popular-tax-breaks-not-being-extended/ Many changes regarding the tax code will be occurring over the next couple of years. Along with a massive end-of-year spending bill, lawmakers also modified the treatment of retirement savings. Unfortunately, they didn’t give any tax credits. Therefore, there are four tax breaks that won’t be extended. The Child Tax CreditCurrently, most parents receive a tax credit of up to $2,000 per year for each child. This became more generous throughout the first half of Biden’s term, which was viewed as successful by most people since it helped end childhood poverty. In fact, when the expanded benefits ended, childhood poverty spiked by 41%, which meant that 3. 7 million children were now living in impoverished households. Even with these statistics and vigorous advocacy for the expansion of the tax break, Congress wouldn’t budge. Numerous Tax Breaks for CompaniesWhile families are obviously being affected, companies will feel the largest impact. This is because there are numerous tax credits that’ll be ending soon. These include: There are no more tax breaks being given to companies to help with research and development. Many companies felt that ending this tax credit wouldn’t only stifle job growth, but it’d also put the United States at a competitive disadvantage with China. While Senators from both parties seemed to agree, voting 90-5, this still didn’t make it into the new bill. Corporate resources (e. g. , a new, bigger oven for a bakery) will be treated less generously. Previously the cost of these resources could be immediately deducted from the company’s tax filings. This is what was known as “bonus depreciation” – something companies loved because they preferred a tax break now instead of waiting until later. Experts also liked it because they believed that the economy benefited when companies were encouraged to invest in their businesses. However, opponents argued that this was giving corporations money at the government’s expense. So, Congress decided to allow the tax credit to start phasing out in 2023, as originally planned. This means that if there isn’t any legislative action taken this year, this credit will end altogether by 2027, leaving companies to spread out the depreciation over many years. Deductions for companies’ interest expenses will end. This was a wonky provision in the 2017 tax law that may have a major impact on businesses. It started in 2022 and set a stricter cap regarding how much of these expenses could be deducted by companies. The companies that are affected may collectively lose billions of dollars. Many of them had believed that this bill’s temporary provisions would be extended, but doing so would be quite costly for the government as companies would profit. Although most of these things won’t change this year, they could have some impact on the soon-to-be coming 2023 filing deadline. Therefore, many families and businesses are bound to be faced with at least some confusion. To help avoid this confusion and ensure that your taxes are done correctly, contact us at the Weller Legal Group in Clearwater,... --- - Published: 2023-01-09 - Modified: 2024-11-01 - URL: https://www.jayweller.com/tampa-bankruptcy-court-decision-on-discharge-of-construction-contractor-debt-to-customer/ The Bankruptcy Court in Tampa rendered an important decision on whether a contractor employed to perform construction or repair services to a customer could Discharge such debt in Bankruptcy. In the case of Hollman v Morales (In re Morales) an individual hired the debtor, a handyman, to conduct repairs on his mobile home. The customer paid $25,000 for such services to be performed. Evidently, such services were not fully performed, and the handyman, and subsequently, the debtor, in the Bankruptcy, argued that the mobile home was inhabited by evil spirits and suggested he conduct a séance on the customer’s behalf to rid the property of such spirits. However, the customer rejected such séance when he learned that such service would involve the use of animal sacrifice. The customer subsequently sued the debtor handyman in State Court, arguing that the debtor was in breach of contract, and acted in a fraudulent manner. Bankruptcy Judge Colton on August 26, 2022, found that the claims brought by the homeowner did not constitute nondischargeable obligations under Bankruptcy Code Sections 523(a)(2) and 523(a)(6). Judge Colton finding was that the debtor did not deceive the homeowner. The debtor was a licensed handyman, his company was insured, and the debtor did possess the necessary skills to perform the work requested. Additionally, there was no finding that the debtor was purposely seeking to deceive the homeowner when he represented that the home was possessed. Picture Credit: Freepik --- - Published: 2022-12-12 - Modified: 2024-11-01 - URL: https://www.jayweller.com/tampa-bankruptcy-court-decision-relating-to-tax-refunds/ A Bankruptcy Judge in Tampa delivered an important decision regarding tax refunds in Bankruptcy. On July 20, 2022, Bankruptcy Judge CJ Delano rendered a decision regarding whether a debtor may retain a portion of a tax refund received in the amount of $5,500. The debtor claimed $3,750 of such refund as exempt. The debtor's argument was that portion of the refund should be exempt because it represented monies that the debtor withheld from his social security benefits. Social security benefits are exempt from levy, attachment, execution, garnishment, and another legal process pursuant to 42 USC 407. Judge Delano ruled that the withholding of monies from social security benefits did not affect the exemption provided under 42 USC 407. The Bankruptcy Judge further ruled that the refund was exempt to the extent to which such monies could be traced to social security benefits. Picture Credit: Freepik --- - Published: 2022-11-29 - Modified: 2024-11-01 - URL: https://www.jayweller.com/tampa-bankruptcy-court-important-decision-regarding-discharge-of-income-tax-debt/ A Bankruptcy Judge in the Tampa Bankruptcy Court delivered an important decision regarding the Discharge of Income Tax Debt in Bankruptcy on August 23, 2022. The debtor filed what is referred to as an adversary proceeding seeking to Discharge numerous hundreds of thousands of dollars in tax debts. The Internal Revenue Service responded and argued that such debt should not be discharged pursuant to Bankruptcy Code 523(1)(C) based upon the premise that the debtor had willfully attempted to evade the payment of such taxes. Bankruptcy Judge Williamson found, after consideration of all the evidence presented, that the debtor did not display willful behavior in his non-payment of taxes. In the instant case, although the debtor had high discretionary spending, but such spending was not deemed lavish. Additionally, the Bankruptcy Judge found that the debtor initial failure to pay the taxes was due to a mistake, that the debtor acted in good faith, and did not hide or conceal assets. BANKRUPTCY ATTORNEY’S NOTE: Another argument sometimes raised by the IRS in such cases, is that the debtor’s failure to file his taxes in a timely manner operates as a willful attempt to evade the payment of taxes. Most courts will likely dismiss this argument. The bankruptcy code specifically states that income tax obligations are subject to discharge based upon a number of qualifications including that such debt must be at least three years due, and the relevant tax returns must have been filed at least two years before the filing of the bankruptcy. Such a rule appears to permit the discharge of such tax debts even under circumstances in which a debtor files the tax return late. Although the bankruptcy courts post 2005 will generally mandate that such returns be filed in order to qualify for a Discharge, most likely even late-filed tax returns should qualify for Discharge. Picture Credit: Pexels --- - Published: 2022-11-07 - Modified: 2024-11-01 - URL: https://www.jayweller.com/introducing-your-chapter-13-bankruptcy-trustees-role/ Undergoing a Chapter 13 bankruptcy is both stressful and time-consuming. You feel as though your life is in the court’s hands as they determine your disposable income and decide upon an amount that’ll be used towards repaying your debts over the next 3 to 5 years. They’re also the ones who will determine whether you can take out any more significant debt during this time. To help oversee these things, as well as others, you have a Trustee appointed to your case. What Your Chapter 13 Bankruptcy Trustee Does Your Trustee’s job is to analyze and authenticate the information that’s pertinent to your bankruptcy case (e. g. , initial bankruptcy filing, petition, statements, schedules). To do this, they’ll need to see your financial documents (e. g. , tax returns, evidence of income) and may ask you questions throughout your Chapter 13 bankruptcy. This is because they’re involved in several ways “behind the scenes” as well. Identify Fraudulent Bankruptcy Filings One of the first jobs your Trustee will undertake is to identify any fraudulent or deceitful activity regarding your Chapter 13 bankruptcy filing. Anyone who’s caught abusing the filing system will have their case completely dismissed. Your Trustee will continue monitoring your case for any criminal activity. If they suspect that you’re participating in criminal activities, they’ll report you to the Department of Justice (DOJ). However, it isn’t only you that they’re monitoring. Your Trustee will also monitor your creditors to prevent any fraud from occurring. Participate in Confirmation Plans Your Trustee is responsible for objecting to your plan if they don’t believe it meets the qualifications of bankruptcy law or if the plan doesn’t look feasible for your financial situation. Their decision is based on several factors, which is why they’ll ensure that you’re reporting all of your income, which creditors will receive how much money, and if you’re in a position to pay them back according to the proposed plan. Hire an Appraiser for You Your Trustee may be able to hire an appraiser for you who will value your assets. This will help your Trustee create a reasonable plan and ensure that they treat you fairly throughout your bankruptcy case. Attend the Confirmation Hearing Your Trustee is also responsible for attending your confirmation hearing, where they’ll discuss with your judge whether they feel that your payment plan is reasonable. The judge then decides whether they want to approve or reject the proposed plan. Collect Payments to Disburse to Creditors Your Trustee must collect your plan’s payments and ensure that they’re properly disbursed to your creditors. They’ll ensure that the proper amount is collected each time. If your financial situation changes during the length of your plan, your payment amount may also change depending on the situation. Provide Financial Advice Your Trustee can offer you financial advice. They can also help you with creating a budget that enables you to live through this period so that you can fulfill your payment plan while still taking care of all of... --- - Published: 2022-10-24 - Modified: 2024-11-01 - URL: https://www.jayweller.com/what-it-means-to-file-bankruptcy-on-a-car-loan/ There are a lot of people who mistakenly believe that if they file for bankruptcy, they’ll wipe out their car loan and still keep their vehicle. Unfortunately, this isn't true. While bankruptcy unwinds your obligation to pay back your car loan, you still need to make payments if you want to keep your vehicle. Here are the answers to a few other common questions regarding this subject. How does bankruptcy work regarding my vehicle? When you file for bankruptcy, the contract that requires you to repay your car loan is broken. This means that you can return the car without paying anything more, but if you want to keep your vehicle, you should know that the bank’s lien isn’t eliminated. Therefore the bank can still repo your car when you don’t pay them as agreed. This can happen as soon as your bankruptcy ends or, with the court's permission, sooner. It doesn’t matter that you’ve erased the debt; you still need to pay for it. How can I keep my vehicle if I file for bankruptcy? The good news is that just because you file for bankruptcy doesn’t mean you have to lose your vehicle. How you handle the situation will depend on the bankruptcy chapter you file, though. Chapter 7 Bankruptcy If you’ve filed for a Chapter 7 bankruptcy, there are two people that you must please if you want to keep your car: your Chapter 7 bankruptcy trustee and the car lender. To satisfy them, you'll need to do different things. For the bankruptcy trustee, you’ll need to have a bankruptcy exemption that protects all of your vehicle’s equity. Therefore you should start by deciding if a “motor vehicle exemption” is possible. If it isn’t enough to cover your vehicle’s equity, look for a “wildcard” exemption. By protecting all of your vehicle’s equity, you’ll be able to satisfy your bankruptcy trustee. However, to satisfy the car lender and their lien, you’ll need to do a little more work. One thing your lender will want to see is that you’re current on your car loan and that you’re able to remain current after your bankruptcy case ends. Otherwise, the lender can repossess the vehicle according to the lien rights. If you can’t do this, your other option is to "redeem" the car by paying the lender the actual value of the vehicle. Chapter 13 Bankruptcy When you file for a Chapter 13 bankruptcy, you’ll be able to pay off the remaining balance of your vehicle’s loan during the 3 - 5 years of your Chapter 13 repayment plan. However, if you don't make the payments and catch up on any arrearages you may already have, the lender can repossess your car. When should I return a vehicle or get out of a car loan? When you file for bankruptcy, you may find that your best option is to return your car and its loan to your lender. Doing so lets you out of the car loan entirely. There are... --- - Published: 2022-10-11 - Modified: 2024-11-01 - URL: https://www.jayweller.com/5-tips-when-preparing-to-file-for-bankruptcy/ Filing bankruptcy could be one of the biggest financial decisions you ever take. It can have significant implications for your finances and your personal life over the next few years and beyond. Therefore, it’s important to consider what is involved with filing bankruptcy and what you can do in order to prepare better for this big financial step in Clearwater. Let’s consider some of the top tips that could help you when preparing to file for bankruptcy. Spend Time ResearchingIt’s important to know what you’re doing when filing bankruptcy. The more time you spend researching, the more you will understand the implications and potential pitfalls of this decision. You might also feel much more prepared when the time comes to formally file for bankruptcy. Speak with financial advisors and other specialists in order to understand as much as possible about the process of filing bankruptcy and what you can expect afterward. Think About the FutureMany people file for bankruptcy because they have no other option. If you are in significant financial trouble, you might feel like you have no other option except to file for bankruptcy. When you declare yourself bankrupt, this can limit your ability to take out mortgages, loans, and credit cards. It can impact your credit score and leave you feeling like you are in a negative financial situation. It’s important to think about the future and see filing bankruptcy as a step that could ultimately help you to rebuild your finances and get into a better position in the long term. Get Help if You NeedIn some situations, you might need to seek financial support elsewhere. Speak to national debt helplines and debt relief organizations that may be able to offer you some assistance. Confide in close relatives and friends who will be sympathetic toward your situation and may even offer to help you financially. Finding support when you need it can help you to get through a difficult time without feeling isolated and alone. In some scenarios, people filing bankruptcy might seek help from professional counselors who specialize in working with people who have been through difficult financial situations such as bankruptcy. Follow the ProcessWhenever you are filing bankruptcy, it’s essential to follow the processes required. Failing to adhere to the rules and regulations could leave you facing more problems in the future. If you need to attend a court hearing, for example, make sure you turn up at the right time and attend all the necessary appointments. The process of filing bankruptcy isn’t always easy, but following all the correct procedures can work in your favor and ensure you are setting yourself up for success in the future. Get Legal GuidanceWhen you are filing bankruptcy, there is no substitute for the support and assistance of a qualified legal professional. There are many experts who specialize in supporting people who are filing for bankruptcy. Getting help as soon as possible could give you more confidence when filing for bankruptcy and help you to feel supported... --- - Published: 2022-09-28 - Modified: 2024-07-12 - URL: https://www.jayweller.com/the-pros-and-cons-of-filing-for-bankruptcy/ There are many pros and cons of filing for bankruptcy. One of the biggest cons to doing so is that when you file for either a Chapter 7 or a Chapter 13 bankruptcy, it’ll show up on your consumer credit report for anywhere up to the 10 years of your life. Another thing that you’ll want to take into consideration is that if you want to file for a federally backed mortgage loan, some creditors won’t approve you for credit while you’re still in bankruptcy. Others will make you wait until your bankruptcy is at least two years old. What Happens to Debt Assumed While in Bankruptcy Rarely will you find creditors who are willing to extend credit to you while you’re still in bankruptcy, but it does happen. One thing that you need to remember here is that once you’re done filing for bankruptcy, any debt that you now assume probably won’t be subject to Discharge in a Bankruptcy. This is important to remember even if your creditor doesn’t make this understanding clear to you when extending you a loan offer. There is one exception to this rule: If you’re a Chapter 13 debtor and you’re able to convert this into a Chapter 7 bankruptcy. With this conversion, you’re able to schedule certain debts that you acquired after you filed for your Chapter 13 bankruptcy for discharge. How Filing for Bankruptcy Affects Your Credit Score It’s a gamble when it comes to how a bankruptcy will affect your credit score. Sometimes it’ll hurt your credit score, but then some clients file for bankruptcy and watch as their credit score dramatically improves. Most clients will see their credit improve within two years of filing for bankruptcy, though. There are some instances in which bankruptcy will greatly improve a person’s credit. For instance, if you have a Chapter 7 bankruptcy discharged, your dischargeable debts will be eliminated through your bankruptcy. Reducing or eliminating your debts will typically dramatically increase your debt-to-income ratio (a factor that plays an important role in determining your credit score and rating). The Benefits of Filing for Bankruptcy There are some clear advantages available to many debtors when they choose to file for bankruptcy. Some of these advantages include: Bankruptcy’s automatic stay will stop foreclosure on any real property (e. g. , homesteads). Usually, filing bankruptcy will stop collection activities such as wage garnishments and lawsuits by even those really aggressive creditors such as the Internal Revenue Service (IRS). As a debtor, you may only need to pay the true value of your car. Any of its negative equity would then be forgiven through your bankruptcy. You may even be allowed to refinance your vehicle. This would then dramatically reduce the amount of interest that the original automobile loan agreement required you to pay. The Drawbacks of Filing for Bankruptcy Now before you start to think that there aren’t any drawbacks to face when you file for bankruptcy, here are a few things that you should know... --- - Published: 2022-09-12 - Modified: 2024-11-01 - URL: https://www.jayweller.com/options-besides-bankruptcy/ When you’re struggling with debt, filing for a Chapter 7 bankruptcy or Chapter 13 bankruptcy may be a good option. However, before doing so, you should take some time to see if there are any alternatives available because these could be your best remedy. Negotiate With Your Creditors If you either have some disposable income or you’re willing to sell some of your assets to get this type of income, you should try to negotiate with your creditors before filing for either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. Doing so may give you some time so that you can get back on your feet. Your creditors may also look at your debts and agree to settle them for less than what you actually owe. Get Help From a Credit Counseling Agency One of the best alternatives to bankruptcy is to get help from a credit counseling agency. While you may feel uncomfortable or unconfident negotiating with your creditors and collection agencies, these agencies can do it for you. They can also help if you have some hard-nosedcollectors and creditors who make you feel ill. These nonprofit agencies can work with you to help you improve your financial picture by repaying your debts so that you don’t have to file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. Make sure that you work with one that’s endorsed by the United States Trustee. They maintain a state-by-state list of agencies that they require debtors to complete before filing for bankruptcy. This is why this is considered one of the best alternatives to bankruptcy. Debt Counseling vs. Chapter 13 Bankruptcy Repayment Plans Participating in debt counseling is similar to filing for Chapter 13 bankruptcy. The agency helps you create a plan (similar to a Chapter 13 plan) in which you pay back your creditors over a certain period. However, unlike when you file for either a Chapter 13 or Chapter 7 bankruptcy, you won’t have a bankruptcy appear on your credit report. This is another reason why debt counseling is considered one of the best alternatives to bankruptcy. It’s important to understand that while this looks like one of the best alternatives to bankruptcy, there are three disadvantages to it in comparison to filing for a Chapter 13 or Chapter 7 bankruptcy. These are: If you miss a payment, you aren’t protected from creditors who wish to start collection actions. This is something that any creditor can do at any time. Unlike with a Chapter 13, you’ll need to repay your debts in full, whereas, with bankruptcy, you’ll typically only pay a small fraction of what you actually owe. There are a lot of debt settlement and debt management scams around today. You’ll find that there are a lot of companies who don't care about helping you. They’re only in it for the money. Therefore you need to be careful when you’re choosing which plan to sign up for. Do Nothing Another alternative to bankruptcy is to do nothing at... --- - Published: 2022-08-29 - Modified: 2024-07-12 - URL: https://www.jayweller.com/buying-a-car-after-chapter-7-bankruptcy/ A Chapter 7 bankruptcy may be on your credit report for as long as 10 years after when it was filed. You may need to get a car loan during this time. While it’ll be more difficult, it’s still doable if you make a larger down payment or you’re willing to pay the lender a higher interest rate. Is it a good idea to buy a car after a Chapter 7 bankruptcy? This really depends on your transportation needs and financial circumstances. One of the main considerations is whether you have transportation that you can rely on. If you do, you should wait to buy a car since the interest rate won’t be ideal. However, if you do choose to buy a car after a Chapter 7 bankruptcy, make sure that it’s well within your budget (remember to calculate the cost of ownership, not just the sticker price). How can I finance my car? Unfortunately, getting a car loan after you’ve filed for a Chapter 7 bankruptcy will be more difficult. Not only will you struggle to find a lender since many of them won’t want to try to help you, but once you do find someone who will give you a loan, you may not qualify for a favorable rate. If you’re willing to deal with high-interest rates on your loan, then there are a few places where you can find a lender to work with and a vehicle that’ll fit your needs. Buy-Here, Pay-Here Dealerships As you search for a way to buy a car after having filed for a Chapter 7 bankruptcy, you may come across these dealerships. Regardless of your credit, these dealerships will work with you. However, you’ll pay more than what the vehicle itself is worth because of the fees that are associated with buying a car here. Credit Unions If you belong to a credit union, you may want to apply for a loan with them. Since these are nonprofit organizations that are owned by their members, it may be easier for you to secure financing through them. You may even get a better interest rate. Co-Signer Another option you may wish to consider is having someone who has really good credit co-sign for your car loan. Before you choose to do this, you’ll want to make sure that your co-signer understands their rights and responsibilities because if your loan is defaulted on, they must make the payments. If they miss these payments, it can impact their credit negatively. When should I take out a car loan? The best time to purchase a new vehicle will depend largely upon your financial circumstances. However, you’ll want to take the time to look for the best interest rate possible. This is why it’s a good idea to wait until you have a better credit score (doing so reduces the interest rate offered to you by a lender), but when this isn’t possible, you should do your due diligence by taking time to shop around a... --- - Published: 2022-08-22 - Modified: 2024-11-01 - URL: https://www.jayweller.com/foreclosures-2022/ The last few years have been rough for Americans and the entire world. Stocks have been very volatile, inflation is up, and political unrest seems to be dividing the country even more than ever. To make matters even worse Foreclosures have been increasing over the past few months. In this article, we will discuss the topic of foreclosures in America, with a special focus on the state of Florida. WHAT IS A FORECLOSURE A Foreclosure is a legal process by which a lender tries to recoup the property back from the borrower. This is usually caused by the borrower failing to pay their mortgage payments. If the borrower doesn’t pay their mortgage payments for a period of months, the lender may begin the Foreclosure process. The highest rate of foreclosures in the United States was in 2010 with over 2,000,000 foreclosure filings. WHAT IS THE FORECLOSURE PROCESS The foreclosure process can vary depending on each state and usually follows a similar pattern. The process begins when the borrower misses a few months of mortgage payments. Each month the bank will usually notify the borrower, that he or she is behind on their payments and need to catch up. If the borrower does not pay their past payments in full then the next step will start. There will then be a notice of foreclosure, called a lis pendens, that is posted with the county clerk in the county in which the property is located. This is the start of the foreclosure process and the lender declares that their intent is to liquidate the real estate asset. The actual foreclosure process can take anywhere from 3 to 9 months depending on the state. Before, and during the Foreclosure, the borrower can try to negotiate with the bank if they want to try and keep the property. Once the foreclosure process is completed, the real estate asset will then be sold at auction, and the bank will keep the money made selling the asset from the auction. After the house is sold or when the bank takes possession, the old homeowner will need to leave the property or will be evicted. This is pretty much the general process of foreclosure but each case will be different because of circumstances and the state. STOPPING A FORECLOSURE There are two ways one may stop, or at least delay the foreclosure process. The first way to delay a foreclosure is to file for bankruptcy. Upon the filing of the bankruptcy, an automatic stay is activated, which stops the foreclosure. In a Chapter 13 bankruptcy, the debtor may pay the arrearages of missed payments owed to the lender over a period of thirty-six (36) to sixty (60) months, and generally be permitted to retain the subject property. A Chapter 7 bankruptcy also possesses the benefit of the automatic stay, however, Chapter 7 usually will only temporarily stop the Foreclosure process. A borrower may also apply for a loan modification, which may also temporarily delay the foreclosure. The... --- - Published: 2022-08-08 - Modified: 2024-11-01 - URL: https://www.jayweller.com/does-dismissal-of-a-bankruptcy-dismiss-any-adversary-proceedings/ If a debtor files Bankruptcy, whether a Chapter 7 or Chapter 13 Bankruptcy, does an adversary proceeding filed against the debtor, subsequently result in the dismissal of the adversary proceeding? Some debtors who file a consumer form of bankruptcy, such as a Chapter 7 or Chapter 13, may expectantly or unexpectantly find themselves a defendant in an adversary proceeding. An adversary proceeding is an action filed in the bankruptcy court in which a creditor objects to the dischargeability of a certain debt based upon either the nature of the conduct or arising from the conduct of the debtor in reference to such debt. For example, a creditor may object to the discharge of a debtor’s obligation pursuant to a property settlement obligation contained in an order of dissolution of marriage, or divorce, or a property settlement agreement, may in fact be a domestic support obligation. If a bankruptcy court judge finds that the character of a property settlement is in the form of a domestic support obligation, then such debt cannot be discharged in bankruptcy. A debt may also be found to not be dischargeable based upon the conduct of the debtor. For example, if the debt was incurred because of willful or malicious actions or conduct of the debtor, or based upon fraudulent conduct, such debt may be determined not dischargeable. In both instances, generally, an adversary proceeding must be filed in order for such debts to receive a finding of non-dischargeability. Some creditors may file an adversary proceeding based upon a spurious basis. Although there may be no merit to the adversary brought by the creditor, the debtor is placed in an uncomfortable position. If the debtor decides not to defend the adversary proceeding, a default judgment may be entered against the debtor, and the debt will be deemed unworthy of discharge. If the debtor defends the adversary proceeding, the attorney fees necessary for such defense may be beyond the financial capabilities of the debtor. May such a debtor escape the ramifications of a judgment of non-dischargeability of the debt subject to such an adversary proceeding by simply dismissing the bankruptcy? Section 349 of the bankruptcy code will provide for the dismissal of the adversary proceeding unless sufficient cause is shown. In a Chapter 7 bankruptcy, dismissal of the bankruptcy is much more difficult than in a Chapter 13 bankruptcy. In a Chapter 7 bankruptcy, one must generally seek approval of the bankruptcy judge in order to receive a dismissal of the bankruptcy. In a Chapter 13 bankruptcy, a debtor may achieve dismissal simply by electing not to make payments to the Chapter 13 Trustee. In such an instance, any adversary proceeding brought within the Chapter 13 bankruptcy would be dismissed along with the dismissal of the Chapter 13, unless the bankruptcy judge determines there is cause to continue the adversary proceeding. Many bankruptcy courts, including those in the 11th circuit, will follow a three-part test to determine whether cause exists to continue the adversary proceeding, and therefore,... --- - Published: 2022-07-26 - Modified: 2024-11-01 - URL: https://www.jayweller.com/why-you-should-pay-down-debt-prior-to-a-recession/ Many Americans are feeling uncertain about their financial health as the possibility of a recession looms over their heads. One piece of advice that’s being given today is to pay down as much of your debt as possible, even if that means filing for bankruptcy. While this is always important, with a looming recession, it’s even more critical now than ever. There are several reasons for this. More Available Credit When Needed Throughout a recession, you may feel uncertain about many things, including your job and paycheck. Without an emergency fund, you may incur more debt as you use credit cards to pay for necessities. Therefore you’ll want to make sure you’ve set aside as much money as possible beforehand. Experts recommend that you not only pay down your debts but that you also don’t acquire any new ones. As interest rates start increasing, you may want to consider filing for bankruptcy. By carrying outstanding debt you’ll have less cash available if an emergency happens. You’ll also be less likely to max out credit cards if you do need to use them. Here’s an important scenario to consider. If you have a credit card with a $10,000 limit and you’re carrying an $8,000 balance, your car breaks down and needs an engine overhaul. Most mechanics are struggling to get the parts they need because their supply chain stocks are overseas, where the parts are manufactured. This has caused prices to rise by about 20%. The cost is passed on to you with a bill that’s $2,500 more than you expected. This alone could also force you into bankruptcy just so you don’t lose your transportation. Avoid Paying Higher Interest Rates Recessions tend to coincide with rising interest rates. This is what we’re currently seeing today. Unfortunately, this means that if you’re currently carrying debts with variable rates, you’ll see the costs continue rising. For instance, if you have a personal loan or mortgage with an adjustable interest rate, you’ll pay more each month. The Consumer Financial Protection Bureau allows companies to increase these rates on transactions as long as they provide you with a 45-day notice. Although this wouldn’t apply to your existing balance, it will make your new transactions even more expensive, causing you to assume even more debt than you’d planned for and possibly forcing you to file for bankruptcy so you can pay off your debts and manage your necessary bills each month. No Searching for Other Credit Sources During the midst of a recession, access to new debt (e. g. , bank loans, credit cards) can also become scarce. This happens because lenders are also at risk when times are tough. So, just like consumers, they tend to be more cautious. Therefore it’ll be more challenging for you to get a loan. If you do manage to obtain them, you’ll notice that their interest rates are higher. This serves as yet another important reason why you should take steps to reduce your debt usage, even if... --- - Published: 2022-07-12 - Modified: 2024-11-01 - URL: https://www.jayweller.com/bankruptcys-effect-on-employment/ If you’ve considered filing for bankruptcy, you may be concerned about how doing so would affect your employment. This is something people are commonly concerned about. While the simple answer here is that your current employment won’t be affected, there are some indirect consequences you’ll want to know about. For instance, your filing may prevent you from obtaining a job in the private sector later on. Therefore it’s wise to be concerned and take time to think things through carefully here. Job SecurityYou can’t be fired by either a government or private employer simply because you filed. Your employer also can’t use this as a reason to change any of your employment’s other terms or conditions. This means that they can’t reduce your salary, demote you, or take away any of your responsibilities. However, if there are other valid reasons for your employer to take these actions (e. g. , tardiness, dishonesty, incompetence) you won’t be protected by filing bankruptcy. Wage GarnishmentsSometimes the court will attach a wage garnishment once you’ve declared yourself bankrupt. Usually, this happens when you file for Chapter 13. When this happens your employer will be informed about it since the judge will most likely order the payments to be automatically deducted from your wages and sent to the court. In this way, your employer is coerced into acting as a collection agency to ensure that you honor your bankruptcy plan. Your employer must then follow the court’s orders until the court deems they should no longer be in effect. Typically, employers look positively upon your declaration because they’ll see that you’re taking affirmative steps to put your financial problems and stress behind you once and for all. Security Clearances and EmploymentThere are a lot of jobs (e. g. armed forces, CIA, FBI, government agency, a private company that contracts with the government) that require you to have a security clearance. If you hold such a job you may be worried that you’ll lose your security clearance if you file for bankruptcy. Whether or not you do will depend upon which of these positions you hold. For instance, if you’re a member of the military or the CIA and have a lot of debt your employer may believe that you pose a high risk of being blackmailed. Once you file and start working on getting rid of your debts you’ll pose much less of a risk. In this case, your filing will work in your favor rather than to your detriment. How Job Applications are AffectedPublic entities (e. g. , federal, state, or local government agencies) can’t base their decision regarding hiring you on the fact that you’ve filed for bankruptcy. However, private employers aren’t held to this rule which is why some people have had their filing come back to haunt them. Most private employers will conduct a credit check when you apply for a job. This is how they’ll learn that you’ve gone bankrupt. Your filing will mainly cause problems if you’re applying for a job that... --- - Published: 2022-06-20 - Modified: 2024-11-01 - URL: https://www.jayweller.com/how-opening-a-new-credit-card-affects-your-credit-card-debt/ Accruing credit card debt will make your financial situation worse but when you use credit cards wisely it’s possible that you can improve your situation. For instance, if you open a credit card and only use it for small purchases that you can immediately pay off, you’ll increase your credit to debt ratio and credit score. Unfortunately, many people aren’t disciplined enough to do this so they end up spending more money than they save. This is why so many people need debt consolidation or file bankruptcy. Understanding the Debt Consolidation Process With debt consolidation, you’re taking out a personal loan that has a lower interest rate than what your credit cards have. You’ll then use this loan to pay off your current credit card debt so you don’t have to file for bankruptcy. There are some advantages to this (besides not having to file bankruptcy). These include: Instead of having multiple credit cards (each with its own payment due date), you’ll have just one monthly payment. This makes it easier for you to avoid missed payments that accrue late fees. Since you’ll pay less interest you’ll save money over time. You’re paying down your credit card debt so you’re improving your credit score. Tally vs. Other Debt Consolidation Options One of the newcomers on the credit card debt consolidation front is Tally. Before understanding how this company works and whether it’s a better choice for you than bankruptcy it’s important to understand what debt consolidation is. Tally is an app-based program that helps with debt consolidation. Depending on your credit score you may receive interest rates as low as 7. 9%. However, you must have a credit score of 580 to participate in this program. The main thing that sets Tally apart from other credit card debt consolidation programs is that it’s more like a credit card in that you’re offered a revolving line of credit (you can set up an account and pay it down repeatedly as long as your account remains open). If you have a good credit score and can qualify for a line of credit here you’ll be able to erase all of your debt at once. One thing that you should know about this program is that if you find this helpful, you probably don’t really need it. However, if you have major issues with debt and you’re unable to get a Tally line of credit, your best option is to embrace the help of a consolidation company. If they can’t help you then your only option is to go bankrupt. Before Borrowing More Money: Stop and Think! Before you enter into the debt consolidation process it’s important to take some time to think things through. While this can help you break the cycle of credit card debt it doesn’t always mean you won’t end up filing for bankruptcy. At Weller Legal Group in Tampa, FL we have your best interests in mind. Contact us today for a free consultation to determine what your... --- - Published: 2022-06-06 - Modified: 2024-07-12 - URL: https://www.jayweller.com/things-to-know-about-bankruptcy-and-divorce/ When it comes to finances, there are various things that can make circumstances more complex. One of the most complex challenges that couples face from a legal and personal perspective is the issue of bankruptcy when also going through a divorce. In some circumstances, a divorce may be happening at the same time as a bankruptcy. Either one of the couple or both of them might be feeling for bankruptcy at the same time as there is a divorce being filed or planned. This can bring complexities on various levels, so there are a number of things to be mindful of if bankruptcy and divorce are being filed together in Tampa. Professional Legal Support is EssentialGetting the right legal support and advice can make a huge difference when going through bankruptcy and divorce. An attorney who specializes in this area will be able to advise about the best timing when filing for divorce and bankruptcy together. It might be better to file for bankruptcy before filing for divorce, or vice versa. A qualified legal expert will be able to offer you the best and most up-to-date advice. Filing Together Sometimes Makes SenseIn some cases, filing for bankruptcy jointly can work in favor of both parties. Filing for bankruptcy together could mean that legal fees are significantly reduced, and both people are able to retain more of their assets. This often depends on your individual situation and income, which is why taking expert legal advice is a critical step when filing for bankruptcy at the same time as the divorce. One crucial aspect of filing together is communication and cooperation – it's important that both parties are able to work together to get the best outcome for both of them. It’s Important to Have Support Going through divorce or bankruptcy is not easy, and going through both of these experiences together is daunting for many people. You should have as much support as you need around you, including professional and legal support. Some people going through bankruptcy and divorce spend some time seeing a professional counselor or therapist to help them get through this challenging time. Seek help as needed from friends and family members who may be able to offer some form of help and support. The Impacts Can Last a Long TimeBefore you file for bankruptcy or divorce, it's important to understand the implications of doing so. Bankruptcy can severely impact your credit score and finances for several years to come, while divorce can also bring implications for your lifestyle, finances, and family. While they might be the right choices to make, it’s important to understand how they will impact you in the longer term and what steps you might be able to take to mitigate them. For example, consider taking on a part-time job to help bring in more income initially, or get the help of a legal professional to help you navigate through the best next steps. Get Professional Help with Divorce and Bankruptcy Filing for bankruptcy... --- - Published: 2022-05-10 - Modified: 2024-11-01 - URL: https://www.jayweller.com/a-quick-guide-to-bankruptcy/ Bankruptcy isn’t a situation that anybody wants to be in. The main reason people file for bankruptcy is that their debt has gotten to the point that it can no longer be handled effectively, and often they are forced into making this move. When debt becomes too overwhelming for a person or a business in Tampa, it is not always possible to continue making payments. Rather than suffering the severe long-term consequences of getting further into unmanageable debt, bankruptcy can seem like the preferable alternative. Let’s look at a quick overview of bankruptcy, the reasons it might be denied, and the long-term implications of filing for bankruptcy. What is Bankruptcy? Bankruptcy requires legal involvement and cannot be done bilaterally between a debtor and a creditor. It enables an individual or company to get relief from significant levels of debt that they are unable to repay. Bankruptcy must be approved by a legal court in order to come into effect for an individual or a business. In some cases, bankruptcy may be denied, although this is rare. There are several reasons why your bankruptcy case might be denied by a court. Why Might Bankruptcy Be Denied by the Court? There are a few reasons why a bankruptcy case may be denied, although most are accepted. Lack of honesty: Being dishonest while filing for bankruptcy could lead to your case being rejected. You should always maintain the truth when filing for bankruptcy and be honest about your earnings, your debt, and your personal details. Earning enough to repay debts: In some cases, a court might rule that the debtor is earning enough money to repay their debts. The disposable income of the debtor must be low enough for the court to rule that it is not possible for the debts to be repaid. You can contact legal advisors for a consultation before deciding whether or not to file for bankruptcy. Savings could repay the debt: Another reason why a bankruptcy case may be denied is when the debtor has enough savings to repay some or all of the debt. If this is the case, it might not make personal or financial sense to file for bankruptcy anyway. The Long-Term Implications of BankruptcyThere are several long-term implications that should be considered before anyone makes the decision to pursue bankruptcy. Poor credit score: Bankruptcy will stay on a person’s credit score in the US for up to ten years. This means that you are likely to be denied loans, credit applications, and other financial services during this time. The impact on your credit score is an important factor to consider since this could make it difficult to take out simple everyday services such as phone contracts and make it virtually impossible to get approved for a mortgage or loan. After the necessary time period has elapsed, it will take some time to rebuild your credit score to a healthy level. Not all debts can be erased:Some of your debts might not be erased despite... --- - Published: 2022-04-18 - Modified: 2024-07-12 - URL: https://www.jayweller.com/how-bankruptcy-can-affect-your-spouse/ One of the more common questions received by the bankruptcy lawyers is, " How filing for bankruptcy will affect my spouse? " This question comes up frequently when just one of the spouses is planning to file for bankruptcy. Several people have a wrong impression that if they are married the spouse will also be responsible for the debt. However, in reality, this is not the case. Both the spouses will be on the hook only in case the debt was incurred in both the partners' names. How my bankruptcy will impact my spouse? When a husband files for bankruptcy without the spouse, only the husband's debts are discharged. Sometimes the debts are held jointly. In such cases, the non-filed spouse or the wife will continue to owe after the husband has filed for bankruptcy. This bankruptcy will appear in the credit report of the husband however, it must not appear in the credit report of the wife. In case the non-filing spouse gets an adverse rating for some reason, on their credit score due to the spouse's bankruptcy, this matter needs to be addressed immediately with the credit reporting agencies. The non-filing spouse must not get their credit damaged if the other spouse files for bankruptcy. Consider the spouse's assets while filing for a bankruptcy Apart from the debt, there is another problem the married couples need to face while evaluating the bankruptcies. This is how the assets of the spouse will be considered. In case one of the spouses has a property in her name and has not filed for bankruptcy, it will not be a part of the bankruptcy estates. It is an important factor and depends on the asset value as chapter 7 bankruptcy is technically nothing but liquidation. All the properties you own that exceed the value of the exemption laws of your state are subject to liquidation from the trustees of bankruptcy. But the trustees have jurisdiction only over the party that is filing for bankruptcy. For instance, if a wife has a property only in her name, it will not be the bankruptcy estate of the husband. A married couple may file for bankruptcy together When the married couples are both filing for bankruptcy, there is a joint petition where a single case is filed in the name of both parties. This will keep the bankruptcy costs down by allowing the married debtors to file for one case and with a single fee. You might be filing for bankruptcy separately or together, one of the immediate advantages you can notice is an automatic stay. It means creditors will discontinue calling and a foreclosure is not imminent and all the wage garnishment has to end. This is certain to lift a lot of stress away from your family. Even when the bankruptcy is not affecting the spouse financially, it can cause emotional turmoil. You are responsible for your debts The lesson to learn from all this is pretty straightforward. Your debts are yours only... --- - Published: 2022-04-11 - Modified: 2024-11-01 - URL: https://www.jayweller.com/treatment-of-child-support-arrears-owed-to-bankruptcy-debtor/ How may the Bankruptcy Court treat child support arrears owed to a Debtor who files Bankruptcy? In such an instance, the Debtor or the Bankruptcy Attorney, on behalf of the Debtor, may engage in an analysis of two important concepts in Bankruptcy. The first question is whether child support or child support arrears are even to be included in the Bankruptcy Estate. How the property or asset in question is treated in its inclusion or exclusion from the Bankruptcy Estate, has a primary effect on whether such property can be subject to seizure or liquidation by the Chapter 7 Bankruptcy Trustee, or used to pay additional monies to the Debtor’s creditors, and in particular, the Debtor’s Unsecured Creditors, in a Chapter 13 Bankruptcy. Bankruptcy Code Section 541 defines Property of the Estate as “... ... . all legal or equitable interests of the debtor in property as of the commencement of the case”. Therefore, all such legal or equitable assets as of the filing of the Bankruptcy Case are considered property of the Bankruptcy Estate, and such property may be subject to attachment or seizure by the Chapter 7 Bankruptcy Trustee, absent the presence of an available Bankruptcy Exemption to protect the property from such efforts by the Bankruptcy Trustee. Although the Bankruptcy Code defines what is property of the Bankruptcy Estate, one must look to the applicable State Law to determine what is property, and how much property is treated. In the State of Florida, Florida Statute 39. 01(15) defines child support as “a court-ordered obligation... for monetary support for the care, maintenance, training, and education of a child”. Although child support in the State of Florida, as in presumably most other States is paid to the parent of the child, in the State of Florida, and many if not most or all other States, child support is considered to be ordered for the benefit of the child. In Bankruptcy Law, there is a concept of Legal versus Equitable interests in property. While the parent who is the recipient of the child support monies may have what is referred to as legal title to such child support monies, the child is the party to whom such payments are to be made for the maintenance and support of such child. In such an instance, a resulting trust may occur in which the parent acts as the Trustee of such monies, to be held and delivered for the benefit of the child, who acts or is deemed, the beneficiary of such monies. In such an instance, the parent might be argued to have legal title or ownership of such child support monies, but the child has full equitable interest in such monies. Such monies should not be subject to attachment or seizure by the Chapter 7 Trustee as child support monies are paid for the benefit of the child, and the parent recipient simply acts as a custodian or Trustee of such monies. In the Middle District of Florida, Tampa Division,... --- - Published: 2022-04-04 - Modified: 2024-11-01 - URL: https://www.jayweller.com/chapter-13-bankruptcy-treatment-of-automobile-accidents/ If a Debtor is in an automobile accident, either before the filing of the Chapter 13 Bankruptcy or after the filing of Chapter 13, proceeds from any personal injury or property settlement arising out of the accident, are included in the Bankruptcy Estate. In Chapter 13 Bankruptcy in which the Debtor uses the Florida Bankruptcy Exemptions, there is no Exemption that specifically protects such proceeds arising from the accident. Most of our clients in Chapter 13 Bankruptcy, who are involved in an automobile accident, suffer such an accident after the filing of the Chapter 13 Bankruptcy. In such an instance, certain documents need to be filed in the Bankruptcy Court. First, the personal injury attorney should file a Motion to Employ Professional. The Bankruptcy Judge, after receiving the Motion, will generally sign an Order Approving Application To Employ, meaning the Personal Injury Attorney is formerly employed by the Debtor in the Bankruptcy Court to continue his representation of the Debtor in the personal injury matter. Because many Personal Injury Attorneys are unfamiliar with the procedures of the Bankruptcy Court, often this and other necessary documents are prepared and filed by the Bankruptcy Attorney. The Bankruptcy Attorney may charge the Personal Injury Attorney a fee for his or her attorney fees incurred pursuant to the costs incurred in the preparation of the necessary documents, filing of documents, and other time incurred in assisting the Personal Injury Attorney. However, the Personal Injury Attorney may file such necessary documents and motions himself or herself. While the personal injury matter is continuing, often the injured party will be in need of medical treatment. The medical providers, including doctors and chiropractors, will generally be issued letters of protection by the Personal Injury Attorney. Such letters of protection mean that once the case is settled or finished, the personal injury attorney will distribute any monies received in such settlement or judgment to the appropriate medical providers, his own fees, and any remaining monies to the Debtor. When the case is settled or rendered in the final judgment, it is imperative that a Motion To Approve Settlement be filed. This Motion is formally referred to in the Bankruptcy Court in Tampa as a Motion To Approve Compromise Of Controversy. This Motion will be accompanied by a Settlement Sheet or Settlement Agreement detailing how all monies are to be distributed pursuant to the Settlement or Final Judgement. The personal injury attorney will generally be awarded his or her attorney fees, without reduction, as the Bankruptcy Court recognizes the significant effort demanded in such actions. The Bankruptcy Court will conduct a hearing on the Motion to Approve Compromise Of Controversy, at which the Judge will review the Settlement or Final Judgment and then issue an appropriate Order to Approve Settlement. This Order is formally referred to as an Order Granting Motion To Approve Compromise Of Controversy. IT IS IMPERATIVE THAT NO MONIES SHALL BE DISTRIBUTED WITHOUT THE BANKRUPTCY COURT FIRST ISSUING THE ORDER TO APPROVE SETTLEMENT OR ORDER APPROVING... --- - Published: 2022-03-28 - Modified: 2024-07-12 - URL: https://www.jayweller.com/in-which-courthouse-should-i-file-bankruptcy/ Under Title 28, Section 1408, cases under Title 11, are filed in the District Court for the District in which the person or entity filing Bankruptcy has for the prior one hundred eighty (180) days or the longer portion of the prior one hundred eighty (180) days, maintained either one’s domicile, residence, principal place of business OR principal assets. Although “residence” and “domicile” are not specifically defined in the Bankruptcy Code, one’s residence is generally held to be where one lives, or dwells, whereas a domicile is where one dwells with the intention of remaining in the foreseeable future. In the State of Florida, for example, in the Middle District of Florida, Tampa Division consists of the Counties of Hardee, Hernando, Manatee, Pasco, Pinellas, Polk, and Sarasota. If a Debtor filing Bankruptcy either is domiciled, resides, has a principal place of business or principal assets in either of these Counties for the 180 days prior to the filing or for the longer portion of the 180 days prior to the filing of the Bankruptcy, then such Debtor would file the Bankruptcy in the Middle District of Florida, Tampa Division. The longer portion of the 180 days is sometimes referred to as the greater portion of the 180 days. For example, if the Debtor resided in another jurisdiction or State prior to residing in one of the above Counties during the prior 180 days, then generally the Debtor would file in the County in which the Debtor resided for the longer or greater portion of the 180 days before filing the Bankruptcy, which would be ninety-one (91) days. If the Debtor resided in more than two different Districts in the 180 days before filing the Bankruptcy, then one would consider where the Debtor resided for the longer portion of the varying Districts. For example, if the Debtor resided in Florida for 70 days, in Georgia for 50 days, and in Alabama for 60 days in the previous 180 days, then the Debtor would properly file the Bankruptcy in Florida, in the appropriate District in Florida. The plain reading of the Statute indicates that Bankruptcy cases will be assigned to the District Court in which the person or entity either resides, domiciles, or has a principal place of business or assets. However, in the Middle District of Florida, for example, there are four different Divisions including the Tampa, Jacksonville, Orlando, and Fort Myers Divisions. If the Debtor resides in Citrus County, which is located within the Middle District of Florida, Jacksonville Division, and files the Bankruptcy in the Tampa, Florida Bankruptcy Court, which governs the Middle District of Florida, Tampa Division, then the Court will generally seek to move the Bankruptcy case to the Jacksonville Division. How can this happen, if the Statute clearly states that the case must be filed in the appropriate District, and does not refer to assignment to various Divisions? The answer is that each local Division may promulgate its own Local Rules. In the Middle District of... --- - Published: 2022-03-22 - Modified: 2024-11-01 - URL: https://www.jayweller.com/what-you-need-to-know-about-the-foreclosure-process/ There are many financial responsibilities involved in owning a home. If you find yourself in a position where you can’t make the mortgage payments anymore, you face the risk of foreclosure. Fortunately, this is a process that you can halt anytime if you take the proper actions. Understanding How the Process Works You’ve received a letter from your bank stating that they’re foreclosing on your home. Unfortunately, you may not even understand the process and all it entails. Here are a few basic things that you should know. You’ve Missed Mortgage PaymentsMissing just one payment can be problematic for lenders. However, your actual problems start after you’ve missed 3 - 6 months of payments. Therefore, reach out to your lender as soon as you know you’re having a problem paying your mortgage. Some lenders will work with their clients to create a payment plan that’ll enable you to get back on track. The Lender Creates a Notice for the PublicWhen you don’t work with your lender or you continue missing payments, they’ll file a public notice stating that you’ve defaulted on the loan. This notice is your warning that there’s a pending foreclosure and you should take specific actions to end it. If you don’t act now, the process will continue. The Lender Starts the Pre-Foreclosure ProcessTypically, you’ll have 30 - 120 days before the process continues. This is the pre-foreclosure grace period. You need to provide outstanding payments now or take part in a short sale. This means you agree to sell the property for less than the remaining mortgage. The Lender Auctions off the PropertyWhen you don’t take any action, a property auction occurs. This means the bidder with the highest offer will take ownership of the property. You can stop this from happening at any point up to the auction. Getting the Help You Need When you know that you’re having a foreclosure on your home, it’s time to get some legal help from the Weller Legal Group in Tampa, FL. We’ve helped many clients who faced this process and we look forward to helping you too. Picture Credit: Freepik --- - Published: 2022-03-07 - Modified: 2024-07-12 - URL: https://www.jayweller.com/relationship-with-credit-card-companies-after-bankruptcy/ One of the common myths circulating about bankruptcies is that after you have filed for bankruptcy, it will not be possible to use the services of credit card companies again. But keep in mind that there are thousands of credit card users out there, that filed for bankruptcy. Yet they are getting new offers. You can very well find new offers even after filing for bankruptcy. The bankruptcy filing can be an opportunity for rebuilding the creditworthiness. There is no need to avoid credit cards entirely after bankruptcy but, it might be a good idea to stay away from the bad habits. Effects of chapter 7 bankruptcy filing on the credit score In almost all cases, you will find that a chapter 7 bankruptcy filing will lower your credit score. However, this happens only temporarily. Although the bankruptcy filing details will stay visible on the credit report for almost 8-10 years, the credit report will also display your good deeds. Many people that filed the chapter 7 bankruptcy found out that their credit score began to improve after a couple of years of the filing. Staying out of trouble with the credit card companies after a chapter 7 bankruptcy You need to use your credit cards cautiously after you have filed for bankruptcy. This will allow you to rebuild the credit score a lot faster. When you are rebuilding your credit to qualify for a credit card that has higher credit limits, it takes patience and time. These are some error-proof methods that may be used for getting credit cards in the initial years after the filing. You can open a secure credit card account. This account starts as a debit card in the sense that you can prepay for the limit you get and it is normally $200. However, if you can keep up with the payments, you will be able to convert this card into a conventional unsecured credit card. This can happen usually after a year or so. In case you are receiving offers for getting a credit card just after filing bankruptcy, you must not open more than one. Convince yourself that the permitted credit limit is a lot lower than what it is. This allows you to maintain your credit card balance at the requisite levels. Never open another credit card until you have paid off the first one. Get a friend or a family member to co-sign for the credit card in case they are inclined. This will provide access to a credit limit that you would have never had immediately after a bankruptcy filing. When you are accountable to someone close to you, it also prevents you from falling back into bad spending habits. There are certain quick fixes available for getting out of debt. But bankruptcy lawyers can help you in discharging these debts to address some of the underlying financial issues. If you live in Tampa, FL area, contact Weller Legal Group for consultations now. You can discuss your case with... --- - Published: 2022-02-23 - Modified: 2024-11-01 - URL: https://www.jayweller.com/are-you-responsible-for-a-family-members-credit-card-debt/ If you click on any of the advice columns related to family relationships, you will discover several queries about relationships that got strained due to money. Various members of a family put each other to shame talking about the financial decisions they did not approve of. Poorer relatives do not like the wealthy ones because they are not generous with them, especially, for repaying credit card debts. In most cases, the eagerness of a family member to insert the chip or swipe the card doesn’t affect your credit score. However, here are some situations where you will be directly responsible for the credit card debts caused by others. Never get fooled by the puppy dog eyes: You may have added another member of your family as one of the authorized users of your account. If this person goes on to make some expensive buys by using your credit card, you have no one else but yourself to blame. An authorized user gets his or her separate card and their purchases are charged to your account. Failing to make the repayment, and paying off for the purchases doesn’t affect the credit score of this person. All the responsibility lies with you. Sometimes a young adult family member may be asking to be added as an authorized user. Take into consideration the credit card debt he or she may develop. It is easier to divorce the spouse than their credit card debt: Credit card debt has been an important factor in the decision to get a divorce in the case of many people. Although you disapprove of your spouse using your credit card for buying things, it is not sufficient. Your disapproval will not hold back the court from placing the responsibility of the debt on your shoulders. The court will consider all the debts at the time of the marriage as marital debts. It will not matter whose name was on the loan agreement. In Florida, a court will consider the financial situation of the couple independently, before deciding about the verdict. Inherited credit card debts: In almost all cases, if a person owing money for the credit card debt dies, his family will not inherit the debt. Although the credit card company can claim the money after the estate has settled, they have no chance of pursuing the credit card debt. However, if you and the deceased were joint borrowers, there will be an exception. It means that you and the deceased both will have your names on the credit card account. In case you were just an authorized user, you will not inherit this debt. Some credit card companies might be getting in touch with you in the pursuit of some credit card debts. If these debts were racked up by other members of your family, get in touch with a debt lawyer. If you live in Tampa, FL area, one of the best go-to places for this work is Weller Legal Group. The experts can help you before... --- - Published: 2022-02-14 - Modified: 2024-11-01 - URL: https://www.jayweller.com/reasons-why-people-file-for-bankruptcy/ Why people file bankruptcy suits in the U. S. these days have been reported by the media citing the reason as medical problems in most cases. It is believed the people that file for bankruptcy in most cases have medical debts. However, oddly almost all the households are dealing with medical debts of some sort. It does not necessarily mean that medical debts cause households to file bankruptcy. Some other surveys indicate that there are different stories among bankruptcy filers. Let's look at the common reasons why people file for bankruptcy. Unemployment If you conduct the surveys and counseling sessions properly you will find that the overwhelming reason to file bankruptcy is the lack of income due to unemployment. Before the great recession, this group of bankruptcy filers constituted around 35% of the filers. But due to the severe problems induced by the great recession, this figure reached the 42% mark for all filers. Although controlled consumer spending and emergency saving funds can mitigate most cases of bankruptcies resulting out of unemployment. Consumer bankruptcies were not even an issue in 2005. Personal bankruptcies and consumer overspending It was recently discovered that after the great recession and the recovery after that, a quarter of the filers indicate overuse of credit cards and overspending was the reason for seeking bankruptcy protection. Bad personal finance choices have conventionally been a problem faced during a bankruptcy filing. Typically, more so in consumer-driven economies. With the strengthening of the economy, there is a rise in consumer confidence. They start overusing their credit cards and spend more than their monthly income. As the economic condition starts to deteriorate, these consumers have no savings left to help them out. Medical debts It will not be a surprise for any American adults to find out that insurance coverage and other healthcare costs have increased dramatically in the last twenty years. Due to this, rise in household financial responsibilities for medical emergencies and drug costs, medical expenses have emerged as the top reason for rising bankruptcy rates. But other surveys from more reliable sources indicate that just one out of five filers cite medical debts as the reason for their financial crisis. Divorce If a person has gone through a divorce, it does not necessarily mean that this is the top reason for bankruptcy. There are people out there who never had to face divorce and they will be surprised that divorce is one of the top reasons for a bankruptcy filing. If you consider this rationally, divorce adds a financial burden on both parties involved. The household expenses that used to be a single set are now divided into a couple of sets. And there is little change in the overall income. The debts incurred during the marriage can be the responsibility of either a single or both parties. It depends on the situation. During the proceedings, both parties can agree to a divorce decree. This will delineate the responsibility of both parties in the repayment of debt... --- - Published: 2022-01-31 - Modified: 2024-11-01 - URL: https://www.jayweller.com/effect-of-conversion-of-chapter-13-bankruptcy-to-chapter-7-bankruptcy/ Bankruptcy Code Section 348(f) states when a Chapter 13 Bankruptcy is converted to a Chapter 7 Bankruptcy, the Bankruptcy Estate does not include property acquired by the Debtor after the original Chapter 13 Bankruptcy was filed. This is an interesting element of Bankruptcy Law because in a Chapter 13 Bankruptcy the Bankruptcy Estate can include property or assets that are held by the Debtor both before the filing of the Bankruptcy and after the filing of the Bankruptcy, during the entire term of the Chapter 13 Bankruptcy, which generally is a period of 36 to 60 months. However, with some exceptions, in a Chapter 7 Bankruptcy, the Bankruptcy Estate only includes assets or property held by the Debtor before the filing of the Chapter 7 Bankruptcy. If the intent of Congress was to fashion the Bankruptcy Laws with a recognition of the rights of Creditors, such a rule appears contrary to such intent, because such rule may disfavor the filing of Chapter 13 Bankruptcies, which tend to offer some distribution to the Unsecured Creditors, whereas Chapter 7 Bankruptcy generally offers no payment to such creditors. In the instance in which a Debtor files Chapter 13 Bankruptcy, and more than six months after the filing of the Bankruptcy, inherits a property, the Chapter 13 Trustee will typically demand that either the property be sold and some or all of the proceeds be distributed to the Chapter 13 Bankruptcy Plan, or the Debtor pay an additional amount to the unsecured creditors, that is equivalent to the value of the inheritance received by the Debtor. If the same Debtor filed a Chapter 7 Bankruptcy and received such inheritance subsequent to the six months after the filing of the Chapter 7 Bankruptcy, then such inheritance would not be included in the Bankruptcy Estate, and not subject to liquidation by the Chapter 7 Trustee. Although the above scenarios appear to create unfair results for the filer of the Chapter 13 Bankruptcy, such is the result created by the constructors of the Bankruptcy Code. One strategy that may employed by such Debtor in a Chapter 13 Bankruptcy would be to convert the Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy. Bankruptcy Code Section 348(f) provides when a Debtor converts a Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy, the property of the Bankruptcy Estate does not include property acquired by the Debtor after the original Chapter 13 Bankruptcy was filed. In the above example, the Debtor could convert the Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy, and the inheritance received would not be considered property of the Bankruptcy Estate. However, if the Bankruptcy Court determines that such conversion was in bad faith, then the Court may determine that such property or inheritance may be included in the Bankruptcy Estate, and subject to administration or liquidation by the Bankruptcy Trustee. Generally, the finding of bad faith is a difficult standard to establish, as the Debtor is generally given the right to convert a Chapter 13 Bankruptcy... --- - Published: 2022-01-24 - Modified: 2022-01-24 - URL: https://www.jayweller.com/can-i-file-for-bankruptcy-if-i-lose-my-job/ Many individuals in Florida found themselves unemployed once the epidemic hit. About 13. 5% of the entire nation's workforce, which equals out to be approximately 22 million people, were forced to file for unemployment benefits once the Coronavirus took its toll, according to the United States Department of Labor. With new strains of the virus popping up, many individuals have used bankruptcy as a means to erase their debts. Debts continue to rise for many people, yet they are uncertain about filing for bankruptcy as they are unsure if they are able to do so if they are not employed. But one does not need to have a job to file. One may be often entitled to file for Chapter 7 bankruptcy if they aren't holding down a job at the moment. It could also help them pay less if they opt to go the Chapter 13 way. However, do note that if a person does not have a way to repay the payment plan, they will not be able to file for Chapter 13. While you are working, and you wish to file for insolvency, you will need to pass the means test for Chapter 7. This test looks at the average monthly income of the person, then compares it to income from 6 months prior against Florida's median income. Right now, this is set at $49,172. If one's paycheck for the year is less than this, they will immediately be entitled to file for Chapter 7. If you do not pass the means test, don't worry. While you can not appeal the outcome of the test, one can always take the means test again in a few months to see if you're eligible to file. If you're positive that you can not wait any longer to start the process, you can always file for Chapter 13. As long as you have paychecks coming in, you may be able to decide if you're allowed to file for Chapter 13. If you have a house or a vehicle you don't want to lose, this option may be a better one for you as a repayment plan will be provided. Monthly payments will be given to a trustee that is appointed to you. If you're unemployed and are receiving unemployment benefits, you might be entitled to this. The total amount you will repay each month will be based on your priority obligations as well as any other secured debts you may have. Or you could also qualify if you receive Social Security or have some other income, such as a rental property. Lots of uncertainty is occurring in the world right now. With a huge pandemic where it appears there is no sight of it ending, lots of Americans are scared to discuss bankruptcy. However, there are many options available for you. A respected attorney can help. If you would like to discuss bankruptcy or your other options, feel free to contact Weller Legal Group in Tampa, FL. Picture Credit: Freepik --- - Published: 2022-01-17 - Modified: 2024-11-01 - URL: https://www.jayweller.com/will-everyone-find-out-you-filed-for-bankruptcy/ Filing for bankruptcy is a tough time. You may be uncertain or scared of the future. Perhaps you are worried about who will all find out you had to file. This is a completely normal feeling and one that many who have filed for bankruptcy have felt. We often hold the feeling our loved ones feel with high regard. But who must absolutely find out you have filed? First off, an attorney will tell you that bankruptcy can be the best option if you need to have a clean slate. If you are tired of having phone calls from creditors, letters sent, or messages left, and it feels that they are constantly harassing you, bankruptcy could very well be the best option for you. For starters, all of your debtors and creditors will be notified that you have filed for bankruptcy. Once you have filed the petition for insolvency, all of your debts will have a stay placed upon them. This notifies your debtors and creditors that they may not collect any more money from you. Nor will they be able to call you or send any correspondence to you. You will also have a bankruptcy trustee that is appointed to you. Once your lawyer has filed for you, your case moves to a court, where a trustee is assigned to you. The trustee will be able to read all the details about your case, and will also be the person who will collect from you if you file for Chapter 7 so the funds can be distributed to your creditors. Many are concerned that their employers will find out that they have filed for bankruptcy. The good news is that they will not be notified. However, filing for bankruptcy is considered public record, so your employer may be able to see that you have indeed filed. Potential employers may also look to see if you have filed for bankruptcy. But the law states you can not be discriminated against for filing. There may be a few times when an employer would be notified. If you have a garnishment of wages, your employer will be notified. They will once again be notified once you have paid the entire amount so all of your wages can be reinstated. You may worry about friends or family members finding out you have filed for bankruptcy. While it is up to you if you want to tell them or not, they will not be notified by anyone. However, since it is public knowledge, they can still find out if you have filed. If you have a cosigner on a loan, that person will be notified that you have filed. While a person can file for bankruptcy on their own, it is best to have a lawyer assist you in the matter. Mistakes can easily be made when filing for this, as many questions are answered that may be confusing to those that never deal with bankruptcy. With various types of bankruptcy, you may not... --- - Published: 2022-01-10 - Modified: 2024-11-01 - URL: https://www.jayweller.com/do-not-allow-debt-collectors-and-bankruptcy-ruin-your-mental-health/ The number of professional economists that have plans to keep on working beyond their 70th birthdays is a lot higher than the overall percentage of workers planning the same thing. But it is stressful to think about money all the time no matter how well you adhere to the budget. Financial hardships can ruin your mental health. This is made worse when debt collectors are continuously bombarding your emails and phones with aggressive communications regarding the debt. The first step for getting out of bankruptcy is contacting a debt lawyer. Harassment by a debt collector is indeed considered to be harassment After you have told a debt collector that you can't pay up, they will not leave you alone. If you ignore their attempts at communication, they will still try to contact you. All the attempts you make to be left alone make them even bolder. If you try to be polite, they will consider it to be fear, if you are nasty, they will get even nastier. The way these debt collectors and creditors behave towards people that are unable to pay their debts is in reality harassment. Harassment suffering People are commenting online suggesting that the harassment from debt collectors is harming their mental health. One of the people suffering from this problem said that her anxiety continued even after paying $60,000 for debt. This person compared the anxiety and hypervigilance about debts and related communication to PTSD or post-traumatic stress disorder. Even though she has not confirmed about a doctor diagnosing her with the illness of PTSD. She is under treatment from a financial therapist these days. Inform the creditors if you have a mental health condition All the debt collection agencies are government regulated. There are guidelines for the debt collection agencies to operate in a specific state. They have to mention their policies for communicating with vulnerable customers. After you have informed the debt collector about your mental health, he is obliged to refer the case to specialized teams that decide the best method for dealing with your problems while taking into consideration your mental health. Some of the alternatives include contacting you at a set time, contacting you in specified ways, and placing further activities on hold if required. Take help from a debt lawyer A good debt lawyer can help you in escaping from the trouble caused by debt collector harassment in several ways. Initially, he can send a formal request to your creditors requesting them to not get in touch with you about the debt. After they have received this request, they need to stop contacting you immediately. This debt lawyer can now help you to plan a suitable strategy for tackling the debts. This may involve negotiating settlement options with the creditors. He can also help in consolidating the debts or filing for bankruptcy. You need to tackle the debts by standing up to the debt collector bullies. The initial step for addressing the debt is getting into a situation where... --- - Published: 2021-12-28 - Modified: 2021-12-28 - URL: https://www.jayweller.com/alternatives-to-paying-the-collection-agencies/ It can be truly unpleasant to deal with collection agencies. A lot of people wonder how their debt became the business of a collection agency in the first place? In most cases, the creditors such as credit card companies or some other organization you have received services from, send the debt to the collection agency after four months of non-payment. If the creditor tried to contact you to seek payment in this period and failed to do so he will send the case to a collection agency. Dealing with collection agencies is so difficult that many times the consumers do not pay upon principle. It is more humiliating than staying in the debt. Here are some alternatives. 1. Negotiate with the creditor: After you have received a notice from the collection agency, get in touch with the original creditor immediately. Most collection agencies will identify the creditor that placed the case with them. Even when there is no name of the creditor in the notice, the collection agency has to provide the identity of the creditor if you ask them. Rather than paying the collection agency immediately, get in touch with the creditors and inquire whether they still own your debt. Or have they sold it to the collection agency? If they still own it, you can try and negotiate a settlement. You may discuss the alternatives of installments or one-time lump sum payments. In case the creditor has sold it to the agency, try to get them to buy it back. Let them know that you are ready to pay to the best of your abilities and prefer to deal with the creditors. 2. Use bankruptcy to discharge the debt: You can discharge several kinds of consumer debts in bankruptcies. If you are worried about paying the debt, get in touch with a bankruptcy lawyer and find out if you can get rid of the debt by filing for bankruptcy. Bankruptcy doesn’t mean that you can make the child support payments and tax obligations disappear. You will still be required to pay for the alimony even when the children have become adults. However, if you can discharge other debts, it might free up some finances that can be used for child support and tax debts. 3. What about paying the collection agency and getting it over with? When you have sufficient funds to settle the issue of debt, and the creditor refuses to buy back your debt, it is a good idea to pay the settlement amount. Paying the collection agency will be a good idea even when the debt is lesser than the amount you owed originally. Ensure that you ask for a letter from the collection agency that certifies that you have successfully settled the debt. This will allow you to show the proof to the credit bureaus in case of a dispute. Whether you should settle the debt with this collection agency or not, depends a great deal on your circumstances and the position of your... --- - Published: 2021-12-21 - Modified: 2021-12-21 - URL: https://www.jayweller.com/the-effects-of-bankruptcy-on-your-credit-report/ Your credit score is more important than ever before, affecting everything from your job prospects to your credit card interest rates. Many people use their energy to acquire and keep the best credit score possible, but sometimes this isn’t possible due to an unforeseen event. When this happens, you may need to file for liquidation. How the Bankruptcy Process Works When you take out a credit card or loan, it’ll be listed on your credit report. If you can’t pay, the information will fall off over time. This means that the older the damaging information is, the less it’ll impact your credit score. For instance, it’ll only take seven years for any debts associated with foreclosures on real property, collection efforts, or delinquent credit cards or mortgage payments to fall off your credit report. However, if you have any unpaid tax liens or other public debts, they’ll remain on your report indefinitely. The good news is that you don’t have to wait for 7 - 10 years to improve your credit. You’ll have any adverse information removed from your creditors’ reports sooner by filing for liquidation. The process will remove any adverse information that your creditors have listed on your report. When Liquidations are Removed From Your Credit Report Now that you have a ray of hope again, you may find yourself wondering just how long it’ll take for your credit score to improve. This answer will depend upon the type of case you’re allowed to file. There are two types of cases: Chapter 7 and Chapter 13. When you file Chapter 13, you’ll have some debts reorganized, and others discharged. Everything will eventually fall off your credit report in seven years. However, with Chapter 7, the information remains on your report for ten years. While you may think this type of case will ruin your credit, this typically doesn’t happen. You’ll feel some impact, but eventually, you’ll overcome it. You can start to build a great credit score again. Doing so will take some time, but the good news is that it’s possible. Some people have built credit scores of 570 - 600 in six months. It depends on the amount of time and effort you’re willing to put into rebuilding your credit. Generally, banks see folks who have just received a bankruptcy discharge as promising candidates for a new loan. This is because you no longer have any outstanding debts, and you can’t discharge your newly acquired debts in another bankruptcy. Once you have new credit extended to you, it’s essential to make sure you make all of your payments on time. By maintaining low balances, you’ll be able to improve your credit score even further. If you’re interested in obtaining credit right away, make sure that you pull your credit report from all three credit bureaus as soon as your bankruptcy is discharged. Doing so will allow you to see that all of your debts have indeed been discharged and that your discharge order has been correctly... --- - Published: 2021-12-13 - Modified: 2021-12-13 - URL: https://www.jayweller.com/what-you-should-know-about-bankruptcy-and-your-credit/ Unfortunately, 2021 hasn’t been a good year for many people financially. The tough economy has led to furloughs and layoffs, leaving people in a disastrous financial position. Even if you’re lucky enough to have been able to return to work, you may find that you’re still faced with a reduction in pay or hours. When faced with financial issues, you must make some tough decisions at the end of the month. You need to decide which bills to pay now and which ones to pay later. The thought of filing for bankruptcy may even cross your mind. You may wonder how the process will affect your credit, especially if you eventually want to buy a home or vehicle. Before deciding, you should know a few things. How Filing for Liquidation Affects You It’s challenging to arrive at the decision that you need to file for liquidation. You may feel ashamed, and you may have thoughts that you’ll never recover from doing so. These feelings are something that you should seriously address. Here are a few things you should know while doing so. How Your Credit is Affected There’s no way around it. Bankruptcy will affect your credit for a while. For instance, if you file a Chapter 7, it’ll show up for up to 10 years. Any of the discharged debts (whether reported or not) will show up for as many as seven years from the date of your delinquency. When you file for a chapter 13 bankruptcy, it’ll show up on your credit report for up to 7 years. The discharged debts that weren’t on your credit report before you filed will show up until they eventually fall off. Typically this will happen at around the same time as Chapter 13 disappears from your credit report. How to Rebuild Your Credit Your life isn’t over just because you file for bankruptcy. Some of the proactive steps you can take to improve your credit score include: Periodically take time to review your credit report. Make sure that you have any errors you find fixed. It’s also essential to ensure that discharged debts show a zero balance. Make all of your payments on any remaining debts on time. If you make a late payment, it could negatively impact your credit score. This damage isn’t something you want since your credit score has already been damaged. Maintain a low credit utilization ratio. This ratio is the amount of credit you have available for use compared to the amount of credit you have available to use. Obtain a secured credit card. While you’ll need to place a security deposit that’ll serve as your credit limit, doing so will help improve your credit. Your other option is to become an authorized user on someone else’s credit card. File for Bankruptcy Today After some serious consideration, you may discover that this is the only way you’ll be able to climb out of debt. At the Weller Legal Group in Clearwater, FL, we empathize with you... --- - Published: 2021-11-29 - Modified: 2024-11-01 - URL: https://www.jayweller.com/tampa-bankruptcy-court-leads-all-divisions-in-middle-district-of-florida-in-filings/ The Tampa Bankruptcy Court consistently leads all other divisions in the Middle District of Florida in bankruptcy filings. There are four divisions that comprise the Middle District of Florida. These four divisions include Tampa, Jacksonville, Orlando and Fort Myers. For the months of January to September of the calendar year 2021, 5,227 cases were filed in the Tampa Division, whereas Jacksonville received 2,388 cases, Orlando 4,542 cases and Fort Myers 1,309 cases. For the current month of September 2021, Tampa received 528 filings, Jacksonville 232 filings, Orlando 449 filings and Fort Myers 160 filings. Picture Credit: Pexels --- - Published: 2021-11-15 - Modified: 2021-11-15 - URL: https://www.jayweller.com/treatment-of-auto-accident-that-occurred-after-the-filing-of-bankruptcy/ If a Debtor files Bankruptcy and following the filing of the Bankruptcy, the Debtor is in an auto accident, then how such accident is treated by the bankruptcy trustee depends heavily upon whether the Debtor filed a Chapter 7 or a Chapter 13 Bankruptcy. Bankruptcy Code Section 541(a) states that the commencement or filing of the bankruptcy case creates an estate. This is referred to as the bankruptcy estate. The bankruptcy estate, according to Bankruptcy Code Section 541(a)(1) consists of all legal and equitable interests of the debtor in property as of the commencement of the case. If the Debtor filed a Chapter 7 bankruptcy, then the claim for injuries that the Debtor may personally have incurred in the automobile accident that occurred after the filing or commencement of the bankruptcy is not part of the bankruptcy estate, and therefore is not subject to administration by the Bankruptcy Trustee. However, the damages to the automobile and the automobile itself may be subject to liquidation by the Bankruptcy Trustee. If the automobile was not claimed as exempt in the bankruptcy petition, or the automobile was claimed as Exempt, but the Chapter 7 Bankruptcy Trustee is able to successfully maintain an objection to the Debtor’s claim of exemption by filing an appropriate Objection to such exemption within 30 days after the first completed meeting of creditors, or 341 hearing, then such asset, and the resulting claim for damages to the automobile resulting from the automobile accident, may be subject to administration and liquidation by the Chapter 7 bankruptcy trustee. If the automobile accident occurs after the filing of a Chapter 13 Bankruptcy, the result differs dramatically. Bankruptcy Code Section 1306, which governs Bankruptcy filings under Chapter 13, states under Section 1306(a)(1) that property of the estate includes, in addition to the property specified under Bankruptcy Code Section 541, all property of the kind in such section that the debtor acquires after the commencement of the case, but before the case is closed, dismissed under Chapter 7, 11, 12 of this title. Therefore, an automobile accident that occurred after the filing of the Chapter 13 would generally be part of the bankruptcy estate, and the monies received in such accident could be subject to seizure by the Chapter 13 bankruptcy trustee, and such monies distributed to creditors pursuant to the Chapter 13 plan. Various States provide Exemptions for monies received in a personal injury action, such a lawsuit arising from an automobile accident. However, Florida does not provide such an Exemption. Picture Credit: Freepik --- - Published: 2021-11-08 - Modified: 2024-11-01 - URL: https://www.jayweller.com/comparing-credit-cards-and-debit-cards/ Plastic money or cards be it credit or debit are among the most preferred modes of payment after cash. Over the last few years, there has been a substantial increase in the usage of both types of cards to pay for products and services. Although the debit card has no debt liability, credit card debt is something users need to manage while using for payments. Offered in a range of colors and patterns, they have replaced checkbooks that were widely used a few decades ago. Although both look similar and are used for the same purpose, they are different from one another. Let’s look at the main differences. Differences Between Debit and Credit Cards Using a debit card draws money from your bank account meaning whenever you swipe, you agree to spend money from your bank account. Thus, it means that you are using your own money to make payments. On the other hand, credit cards allow you to use credit card debt that you are responsible for paying back in the future. Credit cards are popular and as per Experian’s credit report, an average American has 3 credit cards. Managing your credit card debt helps in building your credit profile over time. But the term responsibly often leads to financial troubles which means you end up paying more than you would have paid outright. As you spend money that isn’t from your set funds in your bank account, you are often tempted to spend money that you don’t have. U. S. Federal Reserve in 2018 released data that showed credit card payments surpassed debit card payments by over 30%. The surprising fact here was that debit cards were used twice as much as credit cards were used. Bankruptcy Might Offer A Way Out Of Credit Card Debt Although convenient at times, uncontrolled spending might build a mountain of debt on you. You may start feeling trapped under debt because of high interest rates and fees. If you are presently overwhelmed with credit card debt, it can be a time to start over. Bankruptcy is often a step towards starting afresh and getting financial relief for some borrowers. Additionally, it puts an immediate end to harassing calls and summons by creditors. Bankruptcy helps in eliminating credit card debt and restructuring it into manageable repayments. Most of us may have heard about bankruptcy but not all of us are aware of making its best use to start fresh. Only financial experts who have the knowledge and experience can guide you deal with the conditions efficiently. If you are facing such a scenario and looking for recovering from the stress of repayment, then you should be consulting Weller Legal Group. They are professional financial managers in Tampa, Lakeland, Port Richey, and Clearwater, FL. Besides helping you deal with and restructure your credit card debts; they also offer financial advice that can help you manage your credits. They also guide clients to improve their credit scores and build better credit with proper management... --- - Published: 2021-11-03 - Modified: 2024-11-01 - URL: https://www.jayweller.com/issue-of-acreage-limitations-in-the-claim-of-the-florida-homestead-exemptions/ My name is Jay Weller, President of the Weller Legal Group PA. I am an attorney that represents Debtors in bankruptcy proceedings in the Middle District of Florida Bankruptcy Court, Tampa Division. For any Debtor with a Homestead, who wants to retain their Homestead, file Bankruptcy, and successfully claim the Florida Homestead Exemption, it is important such Debtor be aware of the acreage limitations imposed by such Exemption. In the State of Florida, its Homestead Exemption limits one Debtor to ½ acre of land if the Homestead is located within a municipality. If the land is located outside of the municipality, the Debtor may possess up to 160 acres of land. If the Debtor and his wife are both on the same Deed, and both filing bankruptcy, each may claim such Exemptions, in the collective total of one-acre within the municipality, and three hundred twenty (320) acres outside of the given municipality. A bankruptcy attorney should also be aware of the common law concept of tenancy by the entireties, which also may be claimed as an Exemption, as such is found under Florida Law. A mistake made in either the acreage amount and the location of the Homestead, whether inside or outside of the municipality, can have dramatic consequences for the Bankruptcy Debtor. For example, if a single filer claims a Homestead Exemption for one-acre Homestead located inside the municipality, the Debtor may be forced to either sell or partition part of the Homestead property, pay additional monies to account for the overage, or even sell the Homestead. In a Chapter 13 Bankruptcy, the Debtor that exceeds these limitations would typically be required to pay the unsecured creditors an equivalent amount to which such creditors would receive if such asset or assets were liquidated in a Chapter 7 Bankruptcy. This is called the Liquidation Test. It is important for the Bankruptcy Practitioner to conduct an investigation for each Client, who owns a Homestead, making certain of these three (3) elements: IS THE HOMESTEAD LOCATED INSIDE OR OUTSIDE OF THE MUNICIPALITY? HOW LARGE IS THE PARCEL SIZE OF THE HOMESTEAD? WHO IS ON THE DEED ON THE PROPERTY, OTHER THAN THE DEBTOR? The process of investigating these issues can be rather consuming. One option for the Debtor would be to request an investigation by the local municipality as to whether the Homestead is within the municipality, or outside, in what would be considered the unincorporated zone or area. If one searches by searching the city name on google maps, one can view the lines of the municipality, but it is difficult to match the lines with the location of the Homestead. Both methods are cumbersome. I further investigated a more efficient and accurate method to obtain the needed information. A Google Search revealed a few options, none of which were easily navigable. The search recommended by Google was a site called www. usgeocoder. com. This site offered a free trial in which the user was instructed to enter the address of... --- - Published: 2021-10-19 - Modified: 2021-10-19 - URL: https://www.jayweller.com/can-bankruptcy-stop-an-eviction-in-florida/ If you have filed for bankruptcy in Florida, there is an automatic stay that will protect you from eviction unless the landlord has acquired a judgment of possession before you have filed for bankruptcy. Judgment of possession and stay on eviction The judgment of possession is a final court order in the eviction proceeding. Or if the landlord has filed a motion with the court claiming that the tenant has caused damage to the property or has used illegal drugs on the property within the last month. In case the tenant has failed to pay the lease installments that are due after filing for bankruptcy, the landlord can get this stay lifted. If the tenant fails to clear the due rent before filing the landlord can get the stay lifted. Chapter 7 and eviction If you are on time about paying the rent, you can keep on using the lease. However, you will have to keep on paying the rent on time. In case you are behind the schedule on paying rent, you will have to pay post-petition rent on time. You are also required to catch up on the past rent within a couple of months. You will get 60 days after filing for bankruptcy to formally reject or accept the lease. If you fail to accept the lease within this period your landlord can proceed with the eviction. Chapter 13 and eviction When you have filed for chapter 13 and if you are regular in paying rent, you will not be evicted so long as you are paying the rent in time and do not violate any other terms of your lease. You can pay the ongoing rent out of the payment plan for avoiding any penalties from the trustees. In case you are behind on the payment of rent, you have to include the past rent that is due together with the ongoing rent in your payment plan. In any case, there is no need to reject or accept the lease until the payment plan is in place. In the case of chapter 13, you will be able to continue the lease beyond the term if you are paying the rent on time. Keep in mind that a judgment of possession is a final court order for any eviction proceedings. If this order is signed by the judge, it means the tenant can be officially evicted and the landlord can take legal possession of the property. It also extinguishes all the legal rights of the tenant in the lease. If you are looking for professional help in your bankruptcy proceeding in Lakeland, Port Richey, Clearwater, and Tampa areas, contact Weller Legal Group for experienced and expert advice. Picture Credit: Freepik --- - Published: 2021-10-11 - Modified: 2021-10-11 - URL: https://www.jayweller.com/legal-versus-equitable-interests-in-bankruptcy/ When one files bankruptcy, a bankruptcy estate is created. The bankruptcy estate consists of all legal or equitable interests the debtor possesses in any property, at the time of the filing of the bankruptcy petition . In bankruptcy, one may have a legal interest in property, or an equitable interest in property. A legal interest is represented by ownership in property that is generally more recognizable by law. If one buys an automobile and titles the automobile in his or her name, then clearly that party has a legal interest, as evidenced by the title. An equitable interest may arise when the party does not have a legal interest in the property, but fairness or equity dictates that the party should have an interest in the property. The first type of equitable interest is found in the creation of an express trust. In an express trust, a trustee possesses legal interest in property, which is held for the benefit of another party, generally referred to as the beneficiary. The beneficiary of the trust holds an equitable interest. An beneficiary interest in a trust must be revealed in the bankruptcy schedules, as one must reveal any equitable interest, as such interest is part of the bankruptcy estate. A common type of equitable interest is found in situations where a parent titles an automobile in his or her name, but the automobile was purchased with funds provided by the child of the parent. Such an arrangement usually is made because the parent is helping the child escape heavily burdensome automobile insurance premiums. In such instance, the parent has legal interest in the automobile and the child has an equitable interest. In fairness, the automobile is really property of the child. Such circumstance may be referred to as a resulting trust. The parent is the trustee, holding legal title to the automobile, and the child is the beneficiary. If the person filing bankruptcy has only legal title, or what is referred to as bare legal title, but no equitable interest in the property, that property may excluded from liquidation by the bankruptcy trustee in a Chapter 7 bankruptcy, and not subject to the liquidation test in a Chapter 13 bankruptcy. The liquidation test holds that a person filing Chapter 13 bankruptcy must pay his or her unsecured creditors an amount equal to what such creditors would receive if the same person filed a Chapter 7 bankruptcy. Another situation that often arises is where a parent co-signs a loan for his or her child to purchase an automobile or home. Although the child may have furnished the down payment, tendered all loan payments, maintained the property, and had exclusive use of the property, an argument may be made that the parent does not have solely bare legal title because the parent used his or her credit in assisting the child in the purchase. The parent has contributed to the value of the asset by employing his or her credit in the purchase. A number... --- - Published: 2021-09-21 - Modified: 2024-11-01 - URL: https://www.jayweller.com/sale-of-homestead-and-other-assets-in-bankruptcy/ Debtors in bankruptcy proceedings who desire to sell assets of significant value, whether those assets are considered exempt or not exempt, should obtain appropriate permission from the bankruptcy court before doing so. This advice includes the sale of the homestead in the State of Florida. If you contemplate the sale of homestead property, while in bankruptcy, consult with the bankruptcy attorney first to determine the property procedures and the ramifications of such sale. The first consideration in the sale of homestead property while in bankruptcy is whether the homestead property is in fact, exempt. While the Florida Constitution contains few limitations of the homestead exemption under Florida Law, other than the acreage limitations of ½ acre for an owner of property located within a municipality and 160 acres for property located outside of a given municipality, federal bankruptcy law contains numerous limitations on the homestead exemption provided by the State of Florida. Bankruptcy law provides a limit to the amount of equity an owner of a homestead may claim in the amount of $170,350 for cases filed after April 1, 2019, if the debtor in bankruptcy owned the home less than 1215 days. The exemption under federal bankruptcy law may also be limited under 28 USC 522 if the debtor committed certain forms of bankruptcy fraud or fraudulent transfers. Even if the homestead property is not fully exempt, the debtor may sell such property but should be aware of the effects of such sale before proceeding. Before one sells homestead property while under the jurisdiction of the bankruptcy court, the bankruptcy attorney should file a motion to approve the sale of the homestead property. The bankruptcy attorney should also consult with the assigned bankruptcy trustee to determine his or her position on the sale of such property. Although the property may be fully exempt as the homestead of the debtor, the trustee may take the position that such proceeds constitute additional income that may be delivered to pay in particular, the unsecured creditors of the debtor. If advisable to proceed, the bankruptcy attorney should file a motion to approve the sale of the homestead property. A hearing will be held before the bankruptcy judge. The bankruptcy court or judge will generally take the position that the proceeds of the sale of the homestead property shall retain their homestead quality, provided the debtor uses such proceeds within a reasonable period towards the purchase of another homestead. A reasonable period may be defined as possibly four to six months, or longer, depending upon the facts present in the debtor or debtors’ case. Further, the purchase of a homestead generally contemplates that the debtor or debtors will purchase a home in the State of Florida. After the bankruptcy court enters an order approving the sale of the homestead property, the debtor or debtors may then sell the homestead. Any proceeds from the sale of the homestead should be placed in a separate account, that should be labeled as a homestead account, and such... --- - Published: 2021-09-13 - Modified: 2024-11-01 - URL: https://www.jayweller.com/factors-that-impact-your-bankruptcy-case/ Are you struggling to pay your bills? Do you find that you have fallen so far behind that you think you’ll never catch up? Maybe you’re drowning in a mountain of debt. While you may be struggling to keep your head above water financially, it doesn’t have to be this way. There are solutions available for you. One of the solutions you may wish to consider is bankruptcy. This type of insolvency is a welcome source of relief for many people today. There are a few things you should know to determine if this is the right path for you. Understanding Why You May Wish to File Bankruptcy offers certain protections you may welcome as they bring relief when you’re faced with insurmountable debt. Some of the many perks you may enjoy include having debts eliminated or restructured and automatic stays that prohibit your creditors from taking specific actions against you. However, this process may not go as planned. You may encounter numerous issues that either affect your petition or cause it to be denied altogether. Herein lies the reason you’ll need an excellent attorney to help ensure your success. Understanding the Right Time to File Timing is crucial when you’re filing for bankruptcy. The income you have at the moment you file will affect all aspects of your claim. In specific, how much money you have at your disposal will affect everything. Not only will it affect how your case is handled, but it’ll also affect whether you can file a Chapter 7 or a Chapter 13. For instance, getting a significant pay raise because you’ve either got a new job or a promotion may be great news, but it won’t necessarily be good for your case. Even if you only receive a temporary spike in your earnings during your bankruptcy case, it’ll inadvertently affect the court’s decision regarding your ability to repay your outstanding debts. This change to your financial situation doesn’t necessarily mean that you’ll need to put your liquidation plans on hold altogether. However, you should consult with your attorney before moving forward with any such plans. Understanding Questionable Actions When Filing When you’re in the process of filing for bankruptcy, you need to pay attention to how the court may interpret your actions. You must be upfront with them. Regardless of how pure your intentions are, you mustn’t exaggerate your financial situation. It’s also essential for you to avoid doing anything that the court may see as an attempt to hide your assets (e. g. , transferring assets to someone else before or during the liquidation process). Understanding Your Need for Legal Help When Filing Although liquidating your debt offers you the opportunity to start over with a clean slate, you’ll need an experienced attorney to help you sort through it. The lawyers at Weller Legal Group of Tampa in Tampa Bay, FL, understand the obstacles you may encounter along your way here. We also understand how to guide you through such obstacles. Trust in... --- - Published: 2021-08-30 - Modified: 2021-08-30 - URL: https://www.jayweller.com/recent-executive-orders-regarding-student-loans/ President Biden has signed numerous executive orders recently related to student loan forgiveness. The Borrower Defense to Repayment Program, according to a recent article published in Forbes, will allow forgiveness to certain student loan recipients who were defrauded by the colleges or institutions in which they enrolled. This program was enacted by executive order in June 2021. A second executive order, on August 6, 2021, provided for an extension on a previous moratorium providing borrowers were not to be charged federal loans payments, interest, and not be subject to collection efforts on such loans until January 31, 2022. Previously, such a moratorium was to end in September of 2021. Furthermore, another executive order, on August 19, 2021, provided for the automatic discharge or forgiveness of student loans for disabled borrowers. This executive order was labeled the Total and Permanent Disability Program, and according to Forbes, would provide forgiveness for over 300,000 borrowers, and almost $6 billion dollars in student loan debt. Finally, the Department of Education on August 20, 2021, proclaimed that it would forgive any interest on student loans to military service members who were entitled to such a waiver, whether or not such waiver was given. There have also been numerous bills introduced in Congress that would provide forgiveness of certain private student loans. None of these bills have been enacted into law. Furthermore, such efforts raise serious Constitutional issues and issues relating to the sanctity of contracts, as such student loans are made by contract between a private individual and lenders, who are presumably private in nature. For disabled borrowers, adjudged disabled, and receiving social security disability, the forgiveness of student loans has been long available. I have advised numerous clients who are recipients of social security disability who also possess student loans debt of the process by which they can receive forgiveness. However, this process has become more burdensome and difficult in the past number of years. Automatic forgiveness of student loans for disabled borrowers would obviously provide an easier avenue for student loan recipients, provided the program operates as advertised. The process of bankruptcy already provides for the discharge of student loans for borrowers who were defrauded by colleges or institutions in which the students matriculated. Bankruptcy Code Section 523(a)(8) provides for the discharge of student loans for borrowers who did not receive an “educational benefit”. A student who was the victim of fraud by such a college or higher educational institution can clearly argue that such a benefit was not received. However, in order to receive a discharge in bankruptcy, the borrower would need to file an adversary proceeding. Such effort is complicated and generally would require the representation of a competent and experienced bankruptcy attorney. When such executive orders or decrees are delivered, the reader must be careful and wary of the information given. Often the process is difficult and complicated for those seeking forgiveness or relief, and often many borrowers who may think they are eligible for such relief, may not be... --- - Published: 2021-08-16 - Modified: 2021-08-16 - URL: https://www.jayweller.com/terms-of-bankruptcy-bill-addressing-student-loans/ A bill, currently in Committee before the Senate may permit many debtors encumbered with student loan debt to achieve a discharge of such debts through the process of bankruptcy. Currently, the primary avenue for the discharge of student loans in bankruptcy is through establishing such debts constitute an undue hardship. The bill, titled the “Fostering Responsible Education Starts with Helping Students Through Accountability, Relief, and Taxpayer Protection Through Bankruptcy Act of 2021” or the “FRESH START Through Bankruptcy Act” additionally provides that certain student loans, that became due more than ten (10) years before the filing of the bankruptcy petition, may receive a discharge in bankruptcy. Specifically, the bill seeks to amend section 523(a) of the bankruptcy code, to provide discharge provided the first payment on the student loan became due more than ten years before the filing of the petition. Any suspension of the repayment period, such as forbearance, will extend the period. For example, if the debtor receives a forbearance of one year, the time period will be commensurately extended for an additional year. The bill seems to indicate that the 10 year period applies to “covered student loans” provided by a “covered institution of higher education”. A covered student loan is defined as a student loan for which the first payment was due more than 10 years before the filing of the bankruptcy petition AND was used by the subsequent bankruptcy filer to make a payment to a covered institution of higher education on behalf of the recipient for purposes of receiving an educational benefit. A covered institution of higher education is defined under the bill as an institution as defined in section 102 of the Higher Education Act of 1965 that participates in the Federal Direct Loan Program under part D of such Act and possesses a student body for which more than 33% are receiving such loans. Furthermore, the bill provides that if such student loan is discharged, the covered institution must reimburse the Department of Education an amount equal to 50% of the amount discharged in bankruptcy if the default rate on student loans provided by such institution was more than 25 percent in the three years before such loan was originally due. For Federal Direct PLUS Loans received by professional or graduate students, the reimbursement rates vary. The question becomes how many student loan recipients will ultimately qualify for such a discharge. The bill seems to suggest that if a student attends an institution that is not defined as a covered institution then the filer of the bankruptcy cannot avail themselves of the 10-year rule. Other questions are posed. For example, if the monies were not delivered on behalf of the recipient for purposes of receiving an educational benefit, then is the bankruptcy filer not entitled to a discharge? Despite these questions, it appears many bankruptcy filers who received student loans and have met the ten (10) year requirement will be eligible for discharge of such student loans. Most institutions of higher education... --- - Published: 2021-08-09 - Modified: 2021-08-09 - URL: https://www.jayweller.com/how-bankruptcy-may-affect-your-job-prospects/ While bankruptcy is invaluable in that it offers you the opportunity to start over financially there are also some consequences that accompany it. One of the most important things you need to consider here is how your job opportunities, both now and in the future, will be affected. Can I be fired for filing for bankruptcy? If you live in America you typically won’t be fired if you file for liquidation. Under federal employment discrimination laws, your job will be protected. This means that even though your employer may learn that you’ve filed for liquidation they can’t simply fire you for this reason alone. While your current employment typically won’t be affected in any way, it is important to know that you may feel an impact if you decide to look for a new job either now or in the future. How can filing affect my future employment? If you’re looking for a new job, you probably already realize just how stressful this process can be. Not only will you need to refresh your resume and dust off your references to increase your ability to stand out from other people who are applying for the same job but now you must also worry about how you’ll be affected because you’ve filed for bankruptcy. Unfortunately, a growing number of employers are looking at applicants’ credit histories. This is especially true if you’re applying for a job in which you’ll handle money or be held to really high confidentiality requirements. In fact, the National Association of Background Screeners conducted a report in which they discovered that 31% of employers would run a credit check on some candidates while 16% ran them on all candidates. Typically these background screenings took place after a conditional job offer had been made. This is why it’s so important for you to be prepared when it comes time to discuss this issue with a potential employer. How can I pursue new employment options once my case is released? There’s no reason to be ashamed of filing for bankruptcy. Many people have struggled with financial problems. In fact, you may even find that the person who is responsible for interviewing you has had credit problems in the past. This is why you shouldn’t let your confidence be affected by it. However, you should be prepared for this issue to come up when you’re applying for a job. Make sure that you consider how you’ll explain it to a potential employer. While you’re having this conversation make sure you remain calm, rational, and unemotional. This is where it’s important to have a straightforward answer prepared ahead of time. There’s no reason to share any unnecessary details. Instead, be concise in stating the facts and include how you’ve learned from your experience. End the conversation on a positive note by mentioning what credentials you bring to the job. What Should I do? If you’re concerned with whether you can maintain your job and yet file for bankruptcy it’s time for... --- - Published: 2021-08-05 - Modified: 2021-08-05 - URL: https://www.jayweller.com/discharge-of-student-loans-in-bankruptcy-proposal-in-new-bill-before-congress/ A new bill being presented to Congress will permit the discharge of student loans in bankruptcy provided certain conditions are met. The bill, sponsored by Senator Richard Durbin and Senator John Cornyn, is titled the Fresh Start In Bankruptcy Act. Under the current bankruptcy laws, it is quite difficult to discharge a student loan in bankruptcy. Generally, the debtor must bring an adversary proceeding and obtain a finding from a bankruptcy judge that the student loan constitutes an undue hardship. The undue hardship standard is very difficult to meet. Furthermore, an adversary proceeding is essentially a lawsuit, separate from a bankruptcy filing, whereon the debtor is in active and often spirited litigation against the lender. An adversary proceeding, due to its complexity, often requires the retention of an experienced attorney, and commensurate attorney fees. Among the provisions advanced in the bill is to permit the discharge of federal student loans that are more than 10 years from the date the first payment was due on the student loan or loans. Any loans that are less than ten years old would nevertheless be eligible for discharge under the undue hardship standard. Another more salient portion of the proposed bill is that IHEs or institutes of higher education with more than 1/3 of their students receiving student loans will be mandated to refund to the government a portion of the student loan if such loan is subsequently discharged in bankruptcy. Such provision will be applicable to IHEs that have historically low repayment rates and high default rates by borrowers. Picture Credit: Pixabay --- - Published: 2021-07-19 - Modified: 2021-07-19 - URL: https://www.jayweller.com/middle-district-of-florida-new-rules-and-procedures-for-chapter-13-trustees-in-bankruptcy-cases/ Recently the Middle District of Florida’s Chapter 13 Trustees updated their expectations and rules of debtors and their counsel. From procedures in reference to tax returns to discouragements, there have been some new hurdles added to getting a bankruptcy confirmed. As a part of the new regulations, the Chapter 13 Trustees are requiring the last four (4) digits of the debtor or debtors’ social security number be redacted, along with the names of any children listed in the tax returns. Also, any account numbers on bank statements must be redacted to the last four numbers. To reduce the risk to the debtors, all personal identifiable information or (PII) has to be redacted. The expectations to get a debtors bankruptcy case confirmed have also been altered to include more documentation. A case will not be confirmed if the debtor has not submitted their most recent tax returns and turned over and refund that they may have received. The debtor does have the opportunity to submit a “request to retain the refund”. However, it must come with proof of why they need to retain the monies. Proof can come in the form of receipts, pictures of necessary repairs and even HOA letters telling the debtors that something has to be fixed. Although this does not guarantee that the debtor will be able to keep their refund, the trustee balances this based on the income reported in the petition and the income from that was reported on that tax return. Along with the 1044 form itself, any accompanying W-2’s or 1099’s that the debtor has must also be submitted to the trustee. Failure to do say may result in the dismissal of the case. To get a bankruptcy case confirmed the client must also be current on all of their payments to the trustee. After the filing of the petition, the debtor will receive a letter from their assigned trustee detailing how much their monthly payments will be, for how long they will be making payments, the last day possible to make their first payment and instructions on the multiple ways that the payments can be made. If before confirmation, the debtor is not current with their payments and have any amount in delinquency their case will not be confirmed and the hearing will be continued for an amount of time that the trustee will determine then. If the confirmation is continued more than two times, counsel may be forced to pay up to a $1,500 disgorgement fee. A disgorgement fee is when the counsel, as punishment, has to pay the trustee the counsel’s own funds. This can occur through the lack of communication from the counsel, lack of appropriate diligence on the part of Bankruptcy counsel, or to the debtor or from delay of the debtor to comply with what the counsel and/ or trustee’s request. Regarding amendments and submissions made prior to hearings, the trustees claim that they are unable to look at submissions made weeks or months in advance until... --- - Published: 2021-07-12 - Modified: 2021-07-12 - URL: https://www.jayweller.com/how-bankruptcy-affects-evictions/ There are a lot of bills that may pile up and cause you to be in debt. However, when you realize you’ve fallen behind on paying your rent you’re likely to find this to be more stressful than any of the other types of debt you may encounter. Unfortunately, COVID has caused many Americans to find themselves coping with the ongoing stressor of a looming eviction. In March the Census Bureau published a survey in which they discovered that around 20% of adults who were renting their homes in February reported that they hadn’t paid January’s rent. There are also studies that have taken a look at home many adults faced eviction in Florida throughout the 2020 pandemic. This number was also high - 48,000 people. When you find yourself suffering from problems paying your rent, it’s likely that you also have a lot of other debt as well. In this case, bankruptcy may be your best solution. How Bankruptcy May Be Beneficial The nationwide moratorium on rent soon coming to an end, approximately 11 million Americans who are behind on their rent are in jeopardy of losing their housing. If you’re one of these Americans you may be wonder what the impact on your financial future will be. While this is definitely a grim situation it doesn’t mean that you won’t ever be able to get housing again just because you have an eviction on your record. You should also know that if you’re considering bankruptcy, you’re also likely to get financially stable housing again in the future. When you file for bankruptcy something called an “automatic stay” will be put in place. This will initiate a process that will stop most collection efforts. Even though there are a few exceptions to this rule, most creditors won’t be able to make any attempts to collect a debt from you. Included herein are any eviction lawsuits that haven’t already proceed too far. If the process can’t be halted, when you file for liquidation of your affairs it’ll either be discharged so you’re no longer obligated to repay what you owe or you’ll be given a more manageable repayment plan. This plan may give you enough time to catch up on your rent while staying in your home. In either case, you’ll end up in a much better position and you’ll be happy to know that you may not even be evicted at all. How to Find New Housing Even when your debt has been discharged because you’ve filed for bankruptcy an eviction may still be on your record. When this shows up on your credit report you should talk to your landlord about having your record expunged once you’ve paid any outstanding debts. Of course, you may have a landlord who isn’t agreeable with these terms. In this case, you should work on improving your credit score. If you find yourself in need of new housing while working through the eviction process or trying to improve your credit, you should... --- - Published: 2021-06-29 - Modified: 2021-06-29 - URL: https://www.jayweller.com/steps-for-life-after-bankruptcy-discharge/ After you have found yourself to be on the successful side of a bankruptcy case in Florida, you are likely to be mighty relieved. This is the first good news you must have heard after struggling financially for a long time. Many people are surprised to find out that what they envisaged to be a straightforward procedure rather has turned out to be a massive challenge at every turn. If you are on the other side of bankruptcy, it means you are in contrast with the end of financial challenges. You need to be more careful than ever about how you are going to manage your money. However, there are things you can do to make sure that you come out of the situation with an improved financial condition. Benefits of bankruptcy It is a fact that the number of bankruptcy filings reduced last year. However, there were more than half a million bankruptcy cases filed in 2020 and it indicates that bankruptcy is an ideal solution for people experiencing debilitating debts that are unlikely to go away in near future. Bankruptcy gives a legal pathway for both individuals and businesses for overcoming debt. Filing for bankruptcy is a good way of getting instant relief from the continual harassment from creditors. It also prevents stressful activities such as foreclosure and negative remarks placed on your credit report. Bankruptcy allows the debtor to get rid of all the medical debts, credit card bills, and other loans. But you need to keep in mind that all your debts are not envisaged as dischargeable and every kind of bankruptcy does not work similarly. You need to get help from experienced and high-quality legal professionals to obtain clarification about what debts are likely to get discharged for your specific case. A right lawyer will also help in making sure that you have all the requisite tools necessary to maintain this newfound economic relief. Life after bankruptcy A bankruptcy filing can be a complex process and it can mean substantial changes. You can typically associate changes with any successful discharge but there are several advantages associated with it as well. This whole process will start with you just reaching out for help. Many attorneys specialize in helping out people that are down on their luck to get out of the debt and try to rebuild their credit. In case the lawyers decide that bankruptcy will be the ideal solution for your case, they will go on to show you how the process can be made simple and guide you towards improvement in the economic situation. If you live in the Clearwater, Port Richey, Lakeland, and Tampa, FL area you can consult the experienced lawyers at Weller Legal Group. The team of professionals available at the group can discuss your specific financial situation and can help you understand what you can expect during and after the bankruptcy proceedings. Just ensure that you have completed your bankruptcy paperwork and are in touch with your credit reports regularly.... --- - Published: 2021-06-21 - Modified: 2021-06-21 - URL: https://www.jayweller.com/tampa-bankruptcy-attorney-on-100-chapter-13-bankruptcy-plans/ In the practice of bankruptcy law, attorneys will sometimes refer to a 100% Chapter 13 Bankruptcy Plan. This generally means that the debtor or the bankruptcy filer must pay 100% of the full balances owed to his or her unsecured creditors. Most bankruptcy filers who are in a 100% plan are paying such unsecured creditors in full, because the filer or debtor has significant disposable income, to the extent that the debtor is able to pay his or her unsecured creditors in full. In the Middle District of Florida, Tampa Division, a Chapter 13 debtor in a 100% plan is not required to pay interest on the debts owed to unsecured creditors. The debtor is paying back such unsecured creditors in full, without interest, over a period of sixty (60) months. Although such a debtor, with disposable income sufficient to fund a 100% Chapter 13 Bankruptcy Plan, would be required to pay his or her unsecured creditors in full or 100%, that does not necessarily mean such debtor will pay all of his or her unsecured creditors. Federal Rules of Bankruptcy Procedure 3002(c) provides that such unsecured creditors must file a formal proof of claim within 70 days after the order for relief is granted. The date for which the order for relief is granted is generally defined to be the date of the filing of the Chapter 13 petition. If the creditor does not file a proof of claim or files a proof of claim late, and such claim is disallowed, then the creditor is prevented from participating in the receipt of payments pursuant to the debtor’s or debtors’ Chapter 13 Bankruptcy Plan. Prior to the Confirmation of the Chapter 13 Bankruptcy Plan, which generally comes three to six months after the filing of the Chapter 13 Bankruptcy Petition, the debtor or the debtor’s attorney may reduce the monthly payment to the Chapter 13 Bankruptcy Trustee, to reflect the disallowed claim or claims. Picture Credit: Shutterstock --- - Published: 2021-06-14 - Modified: 2021-06-14 - URL: https://www.jayweller.com/the-20-year-controversy-on-judicial-liens-when-does-it-end/ Many, if not, most Bankruptcy Practitioners would tell you that by law, judgement liens can only encumber property for a 10-year period and receive a one-time extension of 10 more years. This would make the time a lien may last a maximum of 20 years. Fla. Stat. § 55. 10(2). However, these people would be technically wrong. The law does not define when the initial begins on a judgement lien. Bankruptcy professionals presume that the lien will be filed as soon as the judgment is entered. However, that may not necessarily be the case. Once a creditor receives a judgement in their favor they can record a judgement lien against the property of the debtor. A judgement lien takes priority over other liens later recorded and remains at the front of the line to get paid first. The statute of limitations of a judgement lien simply states that there should be no lien on “real or personal property within the state after the expiration of 20 years from the date of the entry of a judgement, order, or decree". Fla. Stat. § 55. 081. The statute does not define what date they are referring to. Whether it be if the clock begins from the date the final judgement is entered or 20 years from the date that the judgement lien is recorded. The Florida Statute is missing a crucial definition that most people have simply presumed; when does the timeline of a judgement lien begin? The statute of origin, Fla. Stat. § 55. 081, does not mention when the clock begins to tick on a judgment lien, it simply states that there is a clock and it is counting down 20 years. When the clock begins to tick is a crucial part. Does the life of any and all liens filed and to be filed begin when the final judgment is recorded; or does the clock begin once the lien has been recorded. If it is the latter, then each lien recorded thereafter by the same creditor each potentially has different expiration dates. If the timeline of the expiration of a judgement were to run from the date which each of the liens was recorded, the creditor could keep the debtor encumbered by liens well over the 20-year limit of Judicial liens. If the creditor enters a Judicial lien against the debtor's car after receiving a judgement in 2020, the lien would have to be renewed in 2030 for another 10 year period putting the expiration of the lien on the car in 2040. However, if the creditor files another lien in 2025 for the debtor's newly purchased house, that lien could be renewed in 2035 and continue until 2040. This cycle can continue arguably for 20 years after the judgement was entered. There could even be a situation in which on the day before the 20-year expiration of the judgement, there could be a judgment lien entered against the debtor that would remain for up to another 20 years... --- - Published: 2021-06-07 - Modified: 2021-06-07 - URL: https://www.jayweller.com/what-you-need-to-know-about-buying-a-home-after-bankruptcy/ Even though we’re still in the midst of a pandemic, most people have at least one friend or family member who’s bought a home within the past year. In fact, the first few months of 2021 have reflected rapid growth when it comes to buying homes. This has been supercharged by the real estate market’s bidding wars at the end of 2020. Despite some people having issues because they made purchases quickly the market still hasn’t slowed down any. With all the talk about buying a home today those who are either actively engaged in a bankruptcy case or who are thinking about filing may wonder how they could purchase a house afterward. Buying a Home After Bankruptcy Whether you’re filing for a Chapter 7 or 13 or have already filed for one, you may feel like the odds of buying a home are stacked against you. However, it’s possible that you can still purchase a home but you need to understand that doing so will require more patience and some special financing. This may mean that you’ll need to wait a few years to find this financing. As you work towards buying a home you should closely monitor your credit report. Make sure you watch for any errors or unresolved issues. During this time you should also gather together any documents regarding the circumstances that led you to file for bankruptcy so that you can provide them to your mortgage lender. Financial Responsibility Regarding Mortgages Following Bankruptcy Regardless of whether you filed for a Chapter 7 or a Chapter 13 the idea of taking on any debt afterwards can be a bit scary for you. At the very least, you may be hesitant even if you really want to live in a home of your own. However, you should know that while there are some purchases (e. g. credit card debt) that can quickly spiral out of control if you don’t have a plan in place to pay this debt off, a mortgage requires structured payments. This means that you’ll have a plan in place and a set date for when these planned payments will end. This is why buying a home at the right time can actually substantially benefit your credit. How We Help You Move Towards Your Desired Future Now that you know that it is indeed possible for you to buy a home after your bankruptcy has been discharged, it’s important to make sure that you know how to successfully overcome any debt that you’ve incurred, to begin with. Although your dreams of owning a home may someday come true, if you’re currently faced with a lot of debt that you see no clear way out of you may feel as though you’re entrapped within a nightmare. This is where the attorneys at Weller Legal Group in Tampa, Lakeland, Clearwater, Port Richey are able to help you. We’re here to help you decide whether you should file a Chapter 7 or Chapter 13 case. We can... --- - Published: 2021-05-10 - Modified: 2021-05-10 - URL: https://www.jayweller.com/why-you-should-consider-bankruptcy-for-your-medical-debt/ Unfortunately, there are millions of Americans who are struggling to pay their bills today because they’ve accumulated too much medical debt unexpectedly. Nobody can prevent major health issues from happening or predict when they will occur. When they do arise you simply need to figure out a way to get the treatment you need, even if it’s something you can’t afford. While this will help ensure that your medical issue will be resolved quickly it can leave you in a situation where things suddenly spiral out of control before you even realize it. If you’ve found yourself in this type of situation and now you’re searching for some help, you should know that bankruptcy may potentially be the solution. Understanding Medical Debt Medical debt is the leading cause of bankruptcy in America today. Unfortunately, there’s the common misconception here that people who’ve experienced financial challenges have done so because they’ve mismanaged the funds in other areas of their life. However, according to USA Today, this isn’t true. In fact, since the start of the pandemic medical debt has been on the rise. Another study also indicates that about 25% of this debt is caused by things like hospitalizations. Some of the other areas that have contributed to such debt include diagnostic tests (e. g. X-rays, MRIs, lab fees - 22%), emergency room visits (19%), and doctor visits (15%). How Bankruptcy Helps with Medical Debt Through the legal proceedings of bankruptcy, a debtor can receive financial relief from certain debts. Although this isn’t specifically structured in such a way as to help you with your medical debt these debts do fall under the category of “unsecured debts. ” These are debts that aren’t tied to any assets or collateral. So when someone tells you that they filed for a medical liquidation what they’ve really filed for is either a Chapter 7 or a Chapter 13. When you qualify to file for a Chapter 7 it’s possible to have any debts related to medical services discharged. This means that they’d be wiped clean so you’re no longer held legally responsible for them. Sometimes a Chapter 7 isn’t an option and you’ll need to file for a Chapter 13 but even then you may be able to get some help for debts related to medical services you’ve received. With Chapter 13 your debts will be restructured in such a way that their payments become more manageable so that you’re able to pay them over a set period of time. Once you reach the end of this time period, any remaining debt will then be discharged. End Your Struggles with Medical Debt Today If you find yourself struggling under a mountain of medical bills you should call upon Jay Weller Legal Group of Tampa in Tampa, FL. They can help you look at your personal circumstances and see what options are available to you. You can also have all your answers about bankruptcy simply by engaging in a free consultation with them today. Picture... --- - Published: 2021-05-03 - Modified: 2021-05-03 - URL: https://www.jayweller.com/how-to-confirm-a-chapter-13-bankruptcy-template/ AFTER THE 341 MEETING OF CREDITORS IS COMPLETED, THE CHAPTER 13 TRUSTEE WILL ISSUE EITHER A FAVORABLE OR UNFAVORABLE RECOMMENDATION IN THE DEBTOR(S) CASE. IF THE DEBTOR RECEIVES A FAVORABLE RECOMMENDATION THEN THERE IS NO ACTION REQUIRED AS RELATES TO THE CHAPTER 13 TRUSTEE. IF THE DEBTOR RECEIVES AN UNFAVORABLE RECOMMENDATION THEN REVIEW SUCH RECOMMENDATION AND CONTACT THE CLIENT VIA TEXT MESSAGE INFORMING THEM OF WHAT ACTIONS THE DEBTOR NEEDS TO TAKE TO REMEDY THE UNFAVORABLE RECOMMENDATION. ALL CORRESPONDENCE WITH THE DEBTOR SHOULD BE BY TEXT MESSAGE. . THE DEBTOR MAY NEED TO HAVE CERTAIN ASSETS APPRAISED, OR PROVIDE CERTAIN DOCUMENTS OR EVIDENCE, INCLUDING EVIDENCE OF INCOME. THE TIME LIMIT FOR THE DEBTOR TO COMPLY WITH TRUSTEE REQUESTS PURSUANT TO THE UNFAVORABLE RECOMMENDATION IS TWO WEEKS. THE CLAIMS BAR DATE FOR MOST CREDITORS IS 70 DAYS FROM THE DATE OF THE ORDER FOR RELIEF. THIS IS GENERALLY DEFINED AS 70 DAYS FROM THE DATE OF THE FILING OF THE PETITION. FOR GOVERNMENTAL UNITS, THE CLAIMS BAR DATE IS 180 DAYS FROM THE DATE OF FILING. DESPITE THE 70 DAY BAR DATE OR DEADLINE FOR NON GOVERNMENTAL CREDITORS TO FILE A PROOF OF CLAIM, THE BANKRUPTCY COURT WILL SCHEDULE THE FIRST CONFIRMATION HEARING APPROXIMATELY 30 DAYS AFTER THE FIRST SCHEDULED 341 MEETING. FOR THIS REASON, IT IS IMPOSSIBLE TO CONFIRM THE CHAPTER 13 PLAN AT THE FIRST SCHEDULED CONFIRMATION HEARING. THE FIRST SCHEDULED CONFIRMATION HEARING IS ALWAYS CONTINUED TO A LATER DATE AND TIME. 80 DAYS FROM THE DATE OF THE FILING OF THE PETITION (OR 10 DAYS AFTER THE CLAIMS BAR DATE), PULL THE PROOF OF CLAIMS IN THE DEBTOR(S) CASE. ONE ONLY NEEDS TO KNOW THE TOTAL OF THE GENERAL UNSECURED CLAIMS FILED IN THE DEBTOR(S) CASE AND THE SECURED CLAIMS FILED IN THE DEBTOR(S) CASE. AFTER A REVIEW OF THE PROOF OF CLAIMS FILE IN THE CASE, IF THERE ARE ANY UNUSUAL CLAIMS OR OBJECTIONABLE CLAIMS, THEN FILE THE APPROPRIATE OBJECTIONS. FOR EXAMPLE, THE CREDITOR ATTORNEY MAY BE REQUESTING ATTORNEY FEES EXCEEDING THOSE CONSIDERED REASONABLE BY THE BANKRUPTCY JUDGE. IF THE DEBTOR OWES MONIES TO THE INTERNAL REVENUE SERVICE AND THE IRS HAS NOT FILED A PROOF OF CLAIM, THEN PROMPTLY CONTACT THE IRS IN ORDER THAT SUCH CLAIMS ARE FILED. ALL CLAIMS BY GOVERNMENTAL UNITS MUST BE FILED, EITHER BY THE GOVERNMENTAL UNIT OR BY THE DEBTOR(S) ATTORNEY ON BEHALF OF THE GOVERNMENTAL UNIT. THE DEBTOR MAY FILE A CLAIM ON BEHALF OF THE INTERNAL REVENUE SERVICE, BUT NOT IN THE TAX YEAR APPLICABLE TO WHEN THE CHAPTER 13 WAS FILED. HOWEVER, IT IS BETTER TO CONTACT THE INTERNAL REVENUE SERVICE TO FILE THE TAX CLAIMS, EVEN THOUGH THIS MAY BE A CUMBERSOME PROCESS. WHEN REVIEWING THE CLAIMS FILED BY THE INTERNAL REVENUE SERVICE, SOME CLAIMS WILL STATE THAT THE DEBTOR HAS UNFILED TAX RETURNS. MAKE CERTAIN THAT ALL TAX RETURNS ARE FILED. REQUEST ANY REQUIRED TAX RETURNS FROM THE DEBTOR. UPON RECEIPT OF REQUIRED TAX RETURNS, SIGNED BY THE DEBTOR, FORWARD SUCH TAX RETURNS TO THE... --- - Published: 2021-04-26 - Modified: 2021-04-26 - URL: https://www.jayweller.com/contemplating-small-business-bankruptcy-in-tampa-fl/ For a long period, there was just a single small business bankruptcy alternative available and that was chapter 7 liquidation. If these small businesses were keen on operations they had to file for their chapter 11 protections that had numerous paperwork necessities. Luckily congress stepped up to this plate and in 2019 passed Small Business Reorganization Act that is known as subchapter V. These bankruptcies became more streamlined. The concerned small business got all those advantages of chapter 11 such as restructuring of loans without facing all the hurdles big companies have to go through. Subchapter V It is an excellent alternative for small businesses. But, due to the upcoming changes in bankruptcy laws, it means all businesses have to act quickly if they are looking to get chapter 11 protection. Keep in mind that Congress did not make this streamlined subchapter V alternative available for every business. Rather you will find some key limitations and one of them is a restriction on maximum debt. In a normal case, a business cannot have an accrued debt of more than $2,725,625 in the form of secured or unsecured debts. But congress later in April 2020 also passed CARES Act that temporarily raised this debt limit to a more lenient $7, 50,000. It was almost 3 times the original limit. It allowed several small businesses to take advantage of a more simplified approach to chapter 11. However, there was a catch to all this. This higher limit has expired on March 27, 2021 and it has again fallen back to around $2,700,000. But, if you are contemplating small business bankruptcy this may be the right time to do so. Reorganizing the debts smartly There is no need for a company to just shut off everything to take advantage of small business bankruptcy. Several clients have leases and debts that are not working out for them anymore. They may also have some liens encumbering their business assets. All these things can be reworked into a small business bankruptcy that will allow you to emerge from the pandemic on a firmer footing. Savvy businessmen get an upper hand by using chapter 11 as they are trying to control debt desperately. In the end, a judge can force your creditors into accepting some repayment plan that allows you to pay less than what you owe. Many secured debts can also become unsecured via their small business bankruptcy process. If your business lies in Tampa, FL area, you can get in touch with the experienced lawyers from Weller Legal Group. This firm has helped several small businesses and family businesses in Tampa, FL area with small business bankruptcies. Call now for scheduling your initial consultation. Picture Credit: Freepik --- - Published: 2021-04-19 - Modified: 2021-04-19 - URL: https://www.jayweller.com/negotiating-debt-with-your-credit-card-company/ Statistics show that the average person living in the state of Florida today has over $8,000 in credit card debt. This debt can quickly become unsustainable with how high-interest rates are. Therefore many people are wondering if they can negotiate with their creditors. Unfortunately, the answer is only “maybe” since companies differ in how willing they are to negotiate depending on how far behind in payments you’ve fallen. Know What Your Goals Are Before you pick up your phone to call the credit card agency you should know what you hope to achieve. Some of the options here include: Being able to skip payments for a few months Lowering your interest rate Reducing your minimum monthly balance Waiving penalties and other things like late fees (The likelihood of having a credit company do this is greater than if you were to ask them to forgive your whole debt. ) Making a lump-sum payment in exchange for having some of your balance forgiven You may also want to inquire regarding your credit card company’s hardship plan. Many companies have these plans available for their clients to enroll in. For instance, if you’ve suffered from a temporary setback (e. g. a job loss) they may let you suspend payments for a few months. Understand How Debt Collectors Think Credit card companies are businesses so they want to maximize their profits. The ideal way to do this is to have you pay off everything that you owe. They realize that this isn’t always possible though. Things to Consider When talking to the credit card company there are some things to consider including: If you aren’t in default they may not feel like they need to negotiate with you. If you’re unemployed it’s much less likely that you’ll be able to pay back your debt. If your financial prospects may improve the company may be willing to give you a break for a few months but they probably won’t forgive your debt. If you’re considering filing for a Chapter 7 bankruptcy the company may be more likely to negotiate with you because they realize that since this is an unsecured debt they won’t be able to get anything out of it. Answer Your Phone When your credit card company calls, answer your phone and tell them you want to discuss what options you have since you’re struggling to pay your bill and don’t want to file for bankruptcy. Oftentimes you’ll be sent to their “loss mitigation” department. Make sure you take careful notes of the conversation, including the name of the person you spoke to. Be Bold and Persistent Negotiating is difficult but you should be honest throughout the process. Tell the credit card company what you want and what you’re prepared to do. Make sure you tell them that you’re considering filing for bankruptcy. Oftentimes this will make the credit card company take you more seriously. You may also need to call them back again if they aren’t willing to accept your first... --- - Published: 2021-04-13 - Modified: 2021-04-13 - URL: https://www.jayweller.com/chapter-13-bankruptcy-retention-of-tax-refund/ REQUIREMENT TO PROVIDE COPIES OF TAX RETURNS TO CHAPTER 13 TRUSTEE IN CHAPTER 13 BANKRUPTCY, THE COURT WILL REQUIRE THAT ALL DEBTORS TIMELY FILE TAX RETURNS DURING THE CASE PENDENCY. WHEN YOU FILE YOUR TAX RETURN, PLEASE IMMEDIATELY EMAIL SUCH COPIES TO JWELLER@WELLERLEGALGROUP. COM OR OTHERWISE PROVIDE A COPY OF THE TAX RETURN TO OUR OFFICE, IN ORDER THAT THE OFFICE MAY PROVIDE THE COPY OF THE TAX RETURN TO THE CHAPTER 13 TRUSTEE. THE BANKRUPTCY COURT AND THE CHAPTER 13 TRUSTEE REQUIRE A COPY OF THE SIGNED AND FILED TAX RETURN, ALONG WITH ANY ACCOMPANYING DOCUMENTS, INCLUDING 1099 FORMS AND W-2 FORMS. CONSENT TO RETENTION OF TAX REFUND MONIES BY CHAPTER 13 TRUSTEE ADMINISTRATIVE ORDER 2020-7, PARAGRAPH 18 AND VARIOUS OTHER ORDERS CONFIRMING CHAPTER 13 PLANS PERMIT THE CHAPTER 13 TRUSTEE TO CONSENT TO THE RETENTION OF YOUR TAX REFUND MONIES. IF CHAPTER 13 TRUSTEE DOES NOT CONSENT TO THE RETENTION OF THE TAX REFUND MONIES, YOUR ATTORNEY, IF APPROPRIATE, MAY FILE A MOTION WITH THE BANKRUPTCY COURT FOR AUTHORITY TO RETAIN THE TAX REFUND MONIES. IF A MOTION IS FILED WITH THE BANKRUPTCY COURT OR JUDGE, THE COURT WILL PRESUME THAT THE CHAPTER 13 TRUSTEE DID NOT CONSENT TO THE RETENTION OF THE TAX REFUND MONIES. THE BANKRUPTCY COURT WILL SET A HEARING TO DETERMINE WHETHER THE RETENTION OF THE TAX REFUND MONIES IS APPROPRIATE. STANDARD FOR RETENTION OF TAX REFUND MONIES IN ORDER TO RETAIN THE TAX REFUND MONIES, YOU SHOW THAT SUCH MONIES ARE NECESSARY TO PAY AN EXPENSE OR EXPENSES THAT ARE NOT PART OF YOUR NORMAL MONTHLY BUDGET. FOR EXAMPLE, YOU MAY NEED NEW TIRES OR BRAKE REPAIRS TO YOUR AUTOMOBILE, A NEW ROOF ON YOUR HOUSE, REPAIRS TO YOUR AIR CONDITIONING HANDLING UNIT, OR UNUSUAL MEDICAL EXPENSES. THESE ARE ALL EXPENSES THAT ARE NOT ONLY NECESSARY BUT ALSO NOT PART OF YOUR NORMAL MONTHLY BUDGET. SUCH SPECIAL CIRCUMSTANCES OR EXPENSES WILL GENERALLY RECEIVE NOT ONLY CONSENT BY THE CHAPTER 13 TRUSTEE, OR IF NO CONSENT IS GIVEN, THEN APPROVAL BY THE BANKRUPTCY COURT. EXPENSES THAT ARE PART OF YOUR NORMAL MONTHLY BUDGET INCLUDE GROCERIES, GASOLINE FOR YOUR AUTOMOBILE, AND AN ELECTRIC BILL FROM THE UTILITY COMPANY. THESE FORMS OF EXPENSES ARE GENERALLY INCURRED ON A REGULAR AND MONTHLY BASIS AND WILL NOT GENERALLY BE DEEMED TO COMPRISE A SPECIAL AND UNUSUAL EXPENSE OR CIRCUMSTANCE, WHICH WOULD ENABLE YOU TO RETAIN THE TAX REFUND MONIES. DOCUMENTS AND EVIDENCE NEEDED IF YOU WISH TO RETAIN YOUR TAX REFUND MONIES IN CHAPTER 13 BANKRUPTCY THEN YOU MUST PROVIDE PROOF OF THE EXPENSES. FOR EXAMPLE, IF YOU NEED NEW TIRES FOR YOUR AUTOMOBILE, PLEASE PROVIDE A STATEMENT, ESTIMATE, OR INVOICE FROM THE MECHANIC SHOP OR PROVIDER, INDICATING THE COST TO REPLACE SUCH TIRES. SUCH STATEMENT SHOULD INDICATE THE SERVICES TO BE PERFORMED, THE COST OF THE LABOR AND MATERIALS ASSOCIATED WITH SUCH SERVICE, AND INDICATE THE NAME, ADDRESS, AND CONTACT INFORMATION OF THE PROVIDER, ALONG WITH THE DATE SUCH STATEMENT WAS PREPARED. ABOVE PROCEDURES MAY APPLY TO... --- - Published: 2021-04-05 - Modified: 2021-04-05 - URL: https://www.jayweller.com/bankruptcy-attorney-procedures-for-phone-consultation-with-client/ SCHEDULE MEETING WITH CLIENT 7-8 DAYS BEFORE THE SCHEDULED 341 HEARING DEBTOR(S) NAME ON SOCIAL SECURITY CARD MUST EXACTLY MATCH THE NAME ON THE PETITION. REVIEW APPROPRIATE DOCUMENTS. DEBTOR(S) MUST READ THE BANKRUPTCY INFORMATION SHEET DEBTOR(S) MUST HAVE A COPY OF THE BANKRUPTCY PETITION. THE PETITION SHOULD BE EMAILED TO THE DEBTOR(S) AT THE TIME OF THE FILING OF THE PETITION. THE OFFICE MAY CREATE A DESIGNATED EMAIL ACCOUNT FOR THE DEBTOR(S) OR THE DEBTOR(S) MAY PREFER TO HAVE THE PETITION EMAILED TO ANOTHER ACCOUNT. NEVERTHELESS, EACH DEBTOR MUST RECEIVE A COPY OF THEIR PETITION, PREFERABLY BY EMAIL. ASK THE DEBTOR(S), AFTER REVIEWING THE PETITION, WERE THERE ANY ERRORS, OR MATTERS NEEDING CORRECTION. ADVISE THE DEBTOR(S) TO IMMEDIATELY COMPLETE THE POST FILING CERTIFICATE , IF THE DEBTOR(S) HAD NOT ALREADY COMPLETED THE CERTIFICATE. ADVISE DEBTOR(S) GENERALLY AS TO HOW A 341 HEARING IS CONDUCTED. DEBTOR(S) SHOULD DAIL INTO THE HEARING USING THE PHONE NUMBER AND PASSCODE PROVIDED ON THE 341 HEARING NOTICE SENT BY THE BANKRUPTCY COURT. IT IS RECOMMENDED THE DEBTOR(S) CALL AT LEAST 15 MINUTES BEFORE THE TIME OF THEIR SCHEDULED HEARING, TO EVEN 30 MINUTES BEFORE SUCH TIME, BUT TO MUTE THEIR PHONES UNTIL THEIR NAMES ARE CALLED. THIS WILL ALLOW THE DEBTOR(S) TO HAVE A BETTER UNDERSTANDING OF WHAT TO EXPECT AT THEIR HEARING BECAUSE THEY CAN LISTEN TO THE HEARINGS OF OTHER DEBTORS. ATTORNEY MAY EMAIL TO THE DEBTORS THE TEMPLATE LISTING THE MOST COMMONLY ASKED QUESTIONS AT THE 341 MEETING OF CREDITORS. CHAPTER 13 BANKRUPTCY: DEBTOR MUST ALSO BE ADVISED AS TO THE MONTHLY PAYMENT, WHEN SUCH PAYMENT IS DUE, THE METHODS BY WHICH SUCH PAYMENT MAY BE TENDERED; BY DIRECT PAYMENT OR TRANSFER FROM DEBTOR(S) BANK ACCOUNT (PREFERABLE) OR BY MAILING THE PAYMENT TO THE TRUSTEE IN THE FORM OF A MONEY ORDER OR CASHIER’S CHECK. IF THE CHAPTER 13 BANKRUPTCY TRUSTEE HAS OTHER QUESTIONS AFTER THE 341 HEARING, THE TRUSTEE WILL ISSUE AN UNFAVORABLE RECOMMENDATION. SUCH RECOMMENDATIONS ARE COMMONLY ISSUED IF THE TRUSTEE HAS ADDITIONAL QUESTIONS OR CONCERNS. ANY ADDITIONAL INFORMATION REQUESTED BY THE TRUSTEE SHOULD BE PROMPTLY PROVIDED. THE DEBTOR(S) WILL BE ASKED TO PROVIDE COPIES OF THEIR ANNUAL TAX RETURNS INCLUDING ACCOMPANYING 1099’S AND W-2 FORMS THE CHAPTER 13 BANKRUPTCY TRUSTEE MAY ALSO REQUEST TAX REFUND MONIES RECEIVED BY THE DEBTOR(S). PLEASE REFER TO THE TEMPLATE TITLED, CHAPTER 13 BANKRUPTCY TRUSTEE REQUEST FOR TAX REFUND MONIES. SUCH TEMPLATE MAY BE EMAILED TO DEBTOR(S). Picture Credit: Pexels --- - Published: 2021-03-22 - Modified: 2021-03-22 - URL: https://www.jayweller.com/bankruptcy-considerations-for-small-business-owners/ Chapter 7 liquidation use to be the only type of bankruptcy a small business could file for. If they wanted to remain in business they’d need to file for Chapter 11 protection and fill out a lot of paperwork. However, in 2019 Congress passed a Reorganization Act entitled Subchapter V. With Subchapter V bankruptcy is streamlined. A business will get a lot of benefits for filing Chapter 11 (e. g. the ability to restructure its loans). There also aren’t as many hoops there as exist for big companies. While this is a good option, it’s important to act fast if you still want to file in this manner. Debt Limits Not every business can file under the streamlined Subchapter V option. This is because Congress put some limitations on it. One of these limitations is that your business can’t have more than $2,725,625 in either secured or unsecured debt. In April 2020 Congress passed the CARES Act. This temporarily raised the debt limit to $7,500,000 which is approximately three times what it once was. By doing so Congress made it so that many more small businesses could file in this fashion. However, there’s a catch here: This higher limit will expire on March 27, 2021. At that time it will fall to $2,700,000 - an amount that’s adjusted on a routine basis for inflation. With this in mind, you may want to act now instead of waiting too later. The Smart Way to Reorganize Your Debt Your small business doesn’t have to be on the verge of losing everything to take advantage of the bankruptcy process. There are a lot of businesses that have debts and leases that are no longer advantageous for them. These businesses may have a huge lien against them that makes their assets burdensome. A business can rework all of these things in such a way that after Covid-19 is over their business will have a much firmer financial standing. When a business files a Chapter 11 they’re able to gain the upper hand when it comes time to pare back their debt. This is because a judge can force creditors into accepting a repayment plan in which they get less money than what they’re actually owed. A judge can also use this process to turn secured debts into unsecured debts - something that’s advantageous to the business. When a small business files for bankruptcy they no longer have to work with each of their creditors individually. These creditors also can’t sue the business for their debt. Instead, they must now approach the bargaining table and maintain an honest position while doing so. As such, there are many advantages for your business. To determine if bankruptcy is the right choice for your small business contact the Weller Legal Group in Clearwater, Tampa, Lakeland, and Port Richey, FL today. They’ll help you schedule an initial consultation so you can discuss your options and decide if filing for Chapter 11 bankruptcy is right for you. Picture Credit: Freepik --- - Published: 2021-03-15 - Modified: 2021-03-15 - URL: https://www.jayweller.com/refund-request-template/ Dear , In response to your request for a refund of the fees that you have paid to our office, a full review of your case has been conducted. It appears that you have paid a total of to our office for legal services. A review of your file reveals that you have scheduled a total of with the office, of which appointments were conducted. Each appointment with our office incurs an attorney fee of $175 per one half hour and $350 per hour. If a client does not appear for his or her appointment or fails to reschedule the appointment at least 72 hours in advance, then such fee or fees must be charged. Another client needing legal services could have received the benefit of that reserved time. Furthermore, the office loses revenue because it held an appointment for a client who either did not appear for the appointment or failed to reschedule outside of the prescribed 72 hour period. In addition, this office has incurred other expenses on your behalf involving the administration of your case, answering creditor calls, and other efforts relating to your case. The retainer agreement that you entered with our office is a contract which plainly states that all fees are paid upon receipt and are not refundable. In your case, you have scheduled a total of with our office. Each of these appointments would necessitate a reservation of one-half hour office time, incurring a total of incurred in attorney fees. Regrettably, in your case, you have incurred more attorney fees than you have paid to our office. However, Weller Legal Group PA generally will allow clients to receive a credit for the attorney fees paid and enter an arrangement for the client to pay any attorney fees that were incurred, but not paid. I will speak with the senior attorney on your behalf, if you decide you wish Weller Legal Group PA to continue its representation in your case. I have also been informed Weller Legal Group typically does not pursue clients who have unpaid attorney fees. Please advise by email to or contact myself at our office at 727-539-7701, if you wish for me to speak with the senior attorney regarding the options presented in this letter. I will make all reasonable efforts to help you in this matter. Sincerely, Picture Credit: Freepik --- - Published: 2021-03-09 - Modified: 2021-03-09 - URL: https://www.jayweller.com/procedures-for-potential-clients-seeking-to-file-bankruptcy/ PHONE OR IN PERSON CONSULTATION (DEPENDING UPON AVAILABILITY) WITH JAY WELLER IS MANDATORY. MR. WELLER WILL DISCUSS WITH THE POTENTIAL CLIENT ALL OF THE ISSUES, TYPICALLY RELATED TO BANKRUPTCY, HOW THOSE ISSUES ARE ADDRESSED IN BANKRUPTCY, THE DIFFERENT CHAPTERS OF BANKRUPTCY, AND REMEDIES OTHER THAN FILING BANKRUPTCY, AND THEIR FEASIBILITY, AND EFFECTIVENESS. MR. WELLER WILL DEMONSTRATE HOW BANKRUPTCY RELATES TO THE SPECIFIC ISSUES CONFRONTING THE POTENTIAL CLIENT. UPON A FULL ANALYSIS OF THE POTENTIAL CLIENT’S ISSUES AND CIRCUMSTANCES, THE POTENTIAL CLIENT CAN THEN MAKE AN INFORMED CHOICE AS TO THE REMEDY THAT MOST BENEFITS HIM OR HER. THERE IS NO FEE OR COST FOR THE INITIAL CONSULTATION. IF THE POTENTIAL CLIENT DECIDES HE OR SHE WISHES TO RETAIN WELLER LEGAL GROUP, PA TO REPRESENT HIM OR HER IN BANKRUPTCY, AND WELLER LEGAL GROUP, PA ALSO AGREES TO ENTER INTO THE REPRESENTATION OF THE POTENTIAL CLIENT, THEN THE DOCUMENTS LISTED PURSUANT TO PROCEDURE #3 MUST BE CAREFULLY REVIEW BY THE POTENTIAL CLIENT, EXECUTED OR SIGNED BY THE POTENTIAL CLIENT, AND DELIVERED TO WELLER LEGAL GROUP, PA IN THE FORM OF EMAIL, US MAIL OR SIMILAR DELIVERY, OR BY AN IN PERSON APPOINTMENT AT ONE OF THE OFFICES, CURRENTLY LOCATED IN CLEARWATER, PORT RICHEY, TAMPA, OR LAKELAND, FLORIDA. THE FOLLOWING DOCUMENTS MUST BE PROVIDED AND FULLY EXECUTED IN ORDER THAT THE RETAINER OF SERVICES BY THE POTENTIAL CLIENT IS FORMALLY MADE WITH WELLER LEGAL GROUP, PA: BANKRUPTCY RETAINER AGREEMENT PLEASE READ THE BANKRUPTCY RETAINER AGREEMENT FULLY. IF YOU HAVE NO OBJECTIONS TO ANY OF THE TERMS INCLUDED IN THE AGREEMENT, PLEASE SIGN AND DATE THE AGREEMENT AND DELIVER THE SIGNED COPY TO OUR OFFICE, BY ANY OF THE METHODS PRESCRIBED IN #2. INITIAL CONSULTATION AGREEMENT AND REQUIRED NOTICES FORM THIS IS A FORM REQUIRED UNDER 11 USC 342(b) OF THE BANKRUPTCY CODE. THIS FORM INDICATES THAT THE CLIENT OR POTENTIAL CLIENT HAS BEEN NOTIFIED OF THE VARIOUS CHAPTER OF BANKRUPTCY AND A GENERAL DESCRIPTION OF THOSE CHAPTERS. PLEASE READ AND SIGN THIS FORM AND DELIVER A COPY TO OUR OFFICE, BY ANY OF THE METHODS DESCRIBED UNDER #2. PAYMENT OF ATTORNEY FEES AND COSTS THE RETAINER AGREEMENT WILL CLEARLY INDICATE THE ATTORNEY FEES AND COSTS NECESSARY TO FILE THE BANKRUPTCY. PAYMENT OF ALL FEES BY BE MADE BY EITHER MONEY ORDER, CASHIER’S CHECK, CHECK, DEBIT PAYMENT, OR CASH, IF THE CLIENT COMES PERSONALLY, TO ONE OF OUR OFFICES. ALL ATTORNEY FEES AND COSTS MUST BE PAID WITHIN THREE MONTHS FROM THE DATE OF THE EXECUTION OF THE RETAINER AGREEMENT. IF THE CLIENT NEEDS MORE THAN THREE MONTHS TO PAY THE FEES AND COSTS, THEN THE CLIENT MAY SET UP A MONTHLY PAYMENT ARRANGEMENT WITH WELLER LEGAL GROUP, PA. IF THE CLIENT WISHES TO SET UP A MONTHLY PAYMENT ARRANGEMENT, THEN WELLER LEGAL GROUP PA WILL DEBIT THE CLIENT OR CLIENTS’ BANK ACCOUNT, ON THE 15TH OF THE SUBSEQUENT MONTH AFTER THE EXECUTION OF THE RETAINER AGREEMENT. CLIENT MAY MAKE PAYMENTS OVER AS MANY AS 12 MONTHS. WELLER LEGAL GROUP DOES NOT CHARGE... --- - Published: 2021-03-01 - Modified: 2021-03-01 - URL: https://www.jayweller.com/chapter-13-bankruptcy-monthly-payments-based-upon-disposable-income/ , THE TWO MAIN FACTORS THAT CAN DETERMINE A DEBTOR OR DEBTORS’ MONTHLY CHAPTER 13 PAYMENTS, ARE THE DEBTORS’ ASSETS AND THE DEBTORS INCOME. DEBTOR OR DEBTORS’ ASSETS IN A CHAPTER 13 BANKRUPTCY, THE DEBTOR MUST PAY HIS OR HER UNSECURED CREDITORS AN AMOUNT EQUIVALENT TO WHAT SUCH UNSECURED CREDITORS WOULD RECEIVE IF THE DEBTOR FILED A CHAPTER 7 BANKRUPTCY. WHEN A DEBTOR FILES BANKRUPTCY, THE BANKRUPTCY ESTATE IS CREATED. THE BANKRUPTCY ESTATE INCLUDES ALL OF THE DEBTOR’S INTERESTS IN ANY PROPERTY. SUCH PROPERTY MAY INCLUDE AN OWNERSHIP INTEREST IN A HOMESTEAD, OTHER REAL ESTATE, AN AUTOMOBILE, PERSONAL PROPERTY SUCH AS FURNITURE, AN ANTICIPATED TAX REFUND, A CAUSE OF ACTION IN A PERSONAL INJURY OR OTHER LAWSUIT WHEREIN THE DEBTOR MAY BE A PLAINTIFF OR SUING PARTY, AN EXPECTED INHERITANCE, OR EVEN A COPYRIGHT INTEREST IN A BOOK OR PUBLICATION. THE BANKRUPTCY ESTATE INCLUDES ALL OF THE PROPERTY OF THE DEBTOR, AS REDUCED BY ALLOWABLE BANKRUPTCY EXEMPTIONS. IN MOST BANKRUPTCY CASES FILED IN THE STATE OF FLORIDA, THE DEBTOR WILL EMPLOY THE FLORIDA BANKRUPTCY EXEMPTIONS. HOWEVER, IF THE DEBTOR HAS RESIDED IN THE STATE OF FLORIDA FOR LESS THAN TWO YEARS BEFORE FILING BANKRUPTCY, THE DEBTOR MAY BE REQUIRED TO EMPLOY THE BANKRUPTCY EXEMPTIONS PROVIDED BY A PRIOR STATE IN WHICH RESIDED THE DEBTOR, OR THE FEDERAL BANKRUPTCY EXEMPTIONS. FURTHERMORE, SOME ASSETS ARE EXCLUDED AS PROPERTY OF THE BANKRUPTCY ESTATE ACCORDING TO THE BANKRUPTCY LAWS. IN A CHAPTER 7 BANKRUPTCY, THE BANKRUPTCY TRUSTEE DETERMINES THROUGH INVESTIGATION, WHAT IS THE PROPERTY OF THE BANKRUPTCY ESTATE. THE TRUSTEE THEN SUBTRACTS THE ALLOWABLE EXEMPTIONS, AND EXCLUDED PROPERTY, TO DETERMINE WHAT ASSETS ARE NOT EXEMPT, OR PROTECTED FROM LIQUIDATION BY THE BANKRUPTCY TRUSTEE. IN A CHAPTER 13 BANKRUPTCY, THE DEBTOR MUST PAY TO THE UNSECURED CREDITORS AN AMOUNT EQUIVALENT TO WHAT THE UNSECURED CREDITORS WOULD RECEIVE IF THE DEBTOR FILED A CHAPTER 7 BANKRUPTCY. THIS IS CALLED THE LIQUIDATION TEST. THE LIQUIDATION TEST IS MET BY SIMPLY PERFORMING THE ANALYSIS OF THE CHAPTER 7 BANKRUPTCY TRUSTEE IN THE PRIOR PARAGRAPH. THE CHAPTER 13 BANKRUPTCY TRUSTEE MAY HAVE QUESTIONS ABOUT THE TRUE STATE OF THE DEBTOR’S PROPERTY OR ASSETS. OFTEN, THE CHAPTER 13 BANKRUPTCY TRUSTEE WILL REFLECT SUCH QUESTIONS OR CONCERNS, BY FILING AN UNFAVORABLE RECOMMENDATION IN THE DEBTOR’S CHAPTER 13 CASE. AN UNFAVORABLE RECOMMENDATION IS GENERALLY NOT A CAUSE FOR WORRY. GENERALLY, IN THE UNFAVORABLE RECOMMENDATION, THE CHAPTER 13 BANKRUPTCY TRUSTEE WILL REQUEST THAT THE DEBTOR DO ONE OR MORE OF THE FOLLOWING: OBTAIN AN APPRAISAL OF ONE OR MORE ASSETS IF THE BANKRUPTCY TRUSTEE REQUESTS AN APPRAISAL OF A CERTAIN ASSET OR PROPERTY, IT IS IMPORTANT THE DEBTOR OBTAIN A CERTIFIED APPRAISAL IMMEDIATELY. THE DEBTOR MAY LOCATE A CERTIFIED APPRAISER TO CONDUCT THE APPRAISAL, OR THE LAW OFFICE MAY PROVIDE A NUMBER OF LOCAL APPRAISERS WHO ARE QUALIFIED AND CERTIFIED TO CONDUCT SUCH APPRAISALS. IT IS BEST TO LOCATE AN APPRAISER WHO WILL BE WILLING TO TESTIFY IN THE BANKRUPTCY COURT, IF NECESSARY. AMEND THE PETITION TO ADD CERTAIN PROPERTY OR ASSETS AN... --- - Published: 2021-02-22 - Modified: 2021-02-22 - URL: https://www.jayweller.com/chapter-13-bankruptcy-unfavorable-recommendation/ MANY, IF NOT MOST OF THE DEBTORS WHO FILE CHAPTER 13 BANKRUPTCY IN THE TAMPA DIVISION OF THE MIDDLE DISTRICT OF FLORIDA WILL RECEIVE AN UNFAVORABLE RECOMMENDATION ISSUED BY THE CHAPTER 13 BANKRUPTCY TRUSTEE. IF YOU RECEIVE AN UNFAVORABLE RECOMMENDATION, THERE IS NO NEED TO PANIC. THERE ARE NUMEROUS REASONS, A CHAPTER 13 BANKRUPTCY TRUSTEES WILL ISSUE AN UNFAVORABLE RECOMMENDATION, MOST OF WHICH CAN BE READILY ADDRESSED BY THE DEBTOR, OR FILER OF THE CHAPTER 13. AMONG THE REASONS AN UNFAVORABLE RECOMMENDATION MAY BE MADE BY THE BANKRUPTCY TRUSTEE INCLUDE: THE TRUSTEE HAS QUESTIONS REGARDING THE DEBTOR OR DEBTORS’ INCOME. THE PAYMENT THE DEBTOR OR DEBTORS, MAKE TO THE CHAPTER 13 BANKRUPTCY TRUSTEE IS OFTEN DEPENDANT UPON THE DEBTOR’S INCOME. THE TRUSTEE MAY REQUEST PAYCHECK STUBS OR PAY INVOICES SHOWING NOT ONLY INCOME RECEIVED BEFORE FILING THE CHAPTER 13, BUT ALSO INCOME RECEIVED AFTER THE FILING OF THE CHAPTER 13. GENERALLY, ANY SPECIFIC REQUEST FOR PAYCHECK STUBS OR PAY INVOICES, WILL BE FOR THOSE RECEIVED AFTER THE FILING OF THE CHAPTER 13 BANKRUPTCY UNTIL THE CASE IS CONFIRMED BY THE BANKRUPTCY JUDGE. THE TERMS OF THE CONFIRMATION ORDER, HOWEVER, WILL REQUIRE THAT THE DEBTOR OR DEBTORS PROVIDE COPIES OF THEIR ANNUAL TAX RETURNS TO THE TRUSTEE. IF THE TRUSTEE REQUESTS PAYCHECK STUBS OR PAY INVOICES, THEN PLEASE EMAIL SUCH INFORMATION TO jweller@wellerlegalgroup. com THE TRUSTEE HAS QUESTIONS ABOUT THE DEBTOR OR DEBTORS ASSETS. SOMETIMES, THE TRUSTEE MAY REQUEST THAT THE DEBTOR OBTAIN AN APPRAISAL OF CERTAIN ASSETS, SUCH AS AN AUTOMOBILE, OR OTHER PERSONAL PROPERTY. GENERALLY, OUR OFFICE HAS A LIST OF A NUMBER OF APPRAISERS WHO ARE CERTIFIED TO FURNISH APPRAISALS. THE IMPORTANT CONSIDERATION IS THAT THE APPRAISER IS A CERTIFIED APPRAISER. ALSO, THE APPRAISER MUST BE WILLING TO TESTIFY IN COURT, IF NECESSARY. THE BANKRUPTCY TRUSTEE HAS THE AUTHORITY, AND THE DUTY, TO INVESTIGATE SUCH ISSUES AS THE DEBTOR’S INCOME, EXPENSES AND ASSETS. BY RESPONDING QUICKLY TO ANY REQUESTS BY THE TRUSTEE, WHICH ARE INVARIABLY RELEVANT TO YOUR CHAPTER 13 BANKRUPTCY, YOUR BANKRUPTCY ATTORNEY WILL BE BETTER ABLE TO REPRESENT YOU IN AN EFFICIENT MANNER, WITH MINIMAL DURESS. ANY INFORMATION REQUESTED IN THE UNFAVORABLE RECOMMENDATION BY THE BANKRUPTCY TRUSTEE SHOULD BE, WITHIN A PERIOD OF FROM THE DATE OF THE ISSUANCE OF THE UNFAVORABLE RECOMMENDATION, EMAILED TO jweller@wellerlegalgroup. com Picture Credit: Freepik --- - Published: 2021-02-15 - Modified: 2021-02-15 - URL: https://www.jayweller.com/procedure-when-informed-debtor-has-a-personal-injury-action/ 1. FIND OUT THE NAME OF THE ATTORNEY AND EMAIL ADDRESS OF THE ATTORNEY 2. EMAIL HIM THE PREPARED LETTER ALONG WITH THE SAMPLE FORMS 3. THE ATTORNEY MUST COMPLETE THE REQUIRED FORMS, STARTING WITH: MOTION TO EMPLOY SPECIAL COUNSEL THE AFFIDAVIT OF PROPOSED SPECIAL COUNSEL ORDER TO EMPLOY SPECIAL COUNSEL 4. THE ABOVE MOTIONS AND ORDERS SHOULD PROPERLY BE GRANTED BEFORE THE PERSONAL INJURY ATTORNEY OR PLAINTIFF’S ATTORNEY FILES THE MOTIONS AND ORDERS DESCRIBED IN NUMBER 5. 5. WHEN THE PERSONAL INJURY ACTION OR OTHER LAWSUIT HAS BEEN SETTLED, THE PERSONAL INJURY ATTORNEY, OTHER ATTORNEY REPRESENTING THE PARTY, AS PLAINTIFF IN ANY OTHER LEGAL ACTION MUST PREPARE AND APPROPRIATELY, THEN FILE: MOTION TO COMPROMISE CONTROVERSY WITH ATTACH TO THE MOTION TO COMPROMISE CONTROVERSY, THE PROPOSED OR EXECUTED SETTLEMENT AGREEMENT BETWEEN THE PLAINTIFF(S) AND DEFENDANT(S). ORDER GRANTING MOTION TO COMPROMISE CONTROVERSY WITH THE PROCEDURE DESCRIBED ABOVE IS THE PROPER PROCEDURE FOR EMPLOYMENT OF PROFESSIONALS IN BANKRUPTCY. IT IS THE DUTY OF PERSONAL INJURY OR PLAINTIFF ATTORNEYS TO INVESTIGATE WHETHER THEIR CLIENTS ARE IN AN ACTIVE BANKRUPTCY OR EVEN CONTEMPLATING THE FILING OF A BANKRUPTCY. ANY MONIES DISTRIBUTED BY THE PERSONAL INJURY OR PLAINTIFF ATTORNEY WITHOUT AN EXPRESS ORDER OF THE ASSIGNED BANKRUPTCY JUDGE, CAN SUBJECT SUCH PERSONAL INJURY ATTORNEY OR PLAINTIFF ATTORNEY TO NUMEROUS SANCTIONS AND PENALTIES. HOWEVER, IF THE PERSONAL INJURY ATTORNEY OR PLAINTIFF ATTORNEY FOLLOWS THE PROCEDURES WRITTEN ABOVE, THE BANKRUPTCY JUDGE WILL TYPICALLY ORDER THAT THE MONIES BE DISTRIBUTED IN A MANNER SIMILAR TO WHAT OCCUR IF THE PLAINTIFF WAS NOT IN AN ACTIVE BANKRUPTCY. Picture Credit: Pixabay --- - Published: 2021-02-09 - Modified: 2021-02-09 - URL: https://www.jayweller.com/procedure-for-debtors-seeking-early-payoff-in-a-chapter-13-bankruptcy/ 1. THE CHAPTER 13 BANKRUPTCY MUST AT LEAST BE CONFIRMED BY THE BANKRUPTCY JUDGE AND AN ORDER GRANTING THE CONFIRMATION OF THE CHAPTER 13 PLAN FULLY ADMINISTERED. 2. A WRITTEN STATEMENT, DATED, SIGNED AND NOTARIZED, BY THE PERSON(S) OR INDIVIDUAL(S) OFFERING TO ASSIST (THE PAYOR). THE DEBTOR OR DEBTORS IN AN EFFORT TO PAYOFF THE CHAPTER 13 BANKRUPTCY BEFORE THE EXPIRATION OF THE CHAPTER 13 PLAN. THIS LETTER MUST CONTAIN: *PAYOR’S FULL NAME AS STATED ON THEIR SOCIAL SECURITY CARD AND/OR BIRTH CERTIFICATE *THE PAYOR’S DATE OF BIRTH AND AGE *THE PAYOR’S PHONE NUMBER AND EMAIL ADDRESS *THE PAYOR’S HOME ADDRESS OR POST OFFICE BOX *A STATEMENT THAT THE PAYOR IS FINANCIALLY ABLE TO TENDER THE ANTICIPATED PAYOFF AMOUNT, AND THE SOURCE OF THOSE FUNDS *A STATEMENT AS TO THE REASON WHY THE PAYOR WISHES TO PAYOFF THE DEBTOR OR DEBTORS’ CHAPTER 13 PLAN. 3. AFTER THE WRITTEN STATEMENT, FULLY COMPLIANT WITH THE TERMS LISTED IN NUMBER 2 OF THE PROCEDURES FOR DEBTOR(S) SEEKING EARLY PAYOFF, THEN THE BANKRUPTCY ATTORNEY WILL REQUEST FOR THE CHAPTER 13 BANKRUPTCY TRUSTEE, THE PAYOFF AMOUNT, AND FILE AN APPROPRIATE MOTION SEEKING EARLY PAYOFF. 4. IF THE CHAPTER 13 BANKRUPTCY TRUSTEE HAS NO OBJECTIONS TO THE EARLY PAYOFF, OR IF NO OTHER INTERESTED PARTY, HAS SUCH OBJECTION OR SUCH OBJECTIONS ARE OVERRULED BY THE BANKRUPTCY JUDGE, AND THE JUDGE SIGNS AN ORDER APPROVING OF THE EARLY PAYOFF, THEN THE CHAPTER 13 PLAN MAY BE PAID, ACCORDING TO THE TERMS OF THE ORDER GIVEN BY THE BANKRUPTCY JUDGE. Picture Credit: Freepik --- - Published: 2021-02-01 - Modified: 2021-02-01 - URL: https://www.jayweller.com/procedure-for-debtor-or-debtors-seeking-sanctions-against-a-creditor-or-other-party-for-automatic-stay-violations/ A WRITTEN STATEMENT SIGNED AND NOTARIZED BY THE DEBTOR OR DEBTORS EXPLAINING IN DETAIL THE ACTIONS BY THE CREDITOR OR OTHER PARTY. ANY OTHER INFORMATION THAT FURNISHES PROOF THAT THE CREDITOR ACTED IN A HARASSING MANNER, SUBSEQUENT TO THE FILING OF THE BANKRUPTCY, IN AN EFFORT TO COLLECT A DEBT CLAIMED BY THAT CREDITOR, OR OTHER PARTY, AGAINST THE DEBTOR OR DEBTORS. ANY WRITTEN STATEMENTS BY ANY PERSON OR PERSONS, WHO ARE WITNESS TO THE ACTIONS OF THE CREDITOR OR OTHER PARTY. ANY PHONE RECORDS, OR OTHER RECORDS, INCLUDING PHONE MESSAGES, EMAILS, OTHER CORRESPONDENCE OR OTHER PHYSICAL DOCUMENTS THAT WOULD PROVIDE PROOF OF THE CREDITOR OR OTHER PARTY’S ACTIONS IN VIOLATION OF THE AUTOMATIC STAY PROVISION AS CONTAINED IN THE BANKRUPTCY CODE. Picture Credit: Pexels --- - Published: 2021-01-25 - Modified: 2021-01-25 - URL: https://www.jayweller.com/should-you-file-for-bankruptcy-after-the-holidays-are-over/ It seems that the stress of the holidays is only amplified once they blow over and January rolls around and you see your credit card bills and other payments that need to be taken care of. Many individuals may assume that it’s best to file for bankruptcy right after the holidays are finished, but it is a bit more complex than one may think. Filing for bankruptcy after the holidays might be a huge error for some people, and could do more to hurt them than help them. Here are some of the biggest things to think about settling on filing for bankruptcy after the holidays. Your Christmas Debt May Still Stick Around The discharge of luxury goods is prohibited under the bankruptcy code if you file for bankruptcy too soon. “Luxury goods” means anything charged to a single creditor within 90 days of filing for bankruptcy that reaches a certain limit. That limit would be $725, and any goods exceeding that are unable to be counted as dischargeable. If you splurged a bit during the holidays and ended up spending over $725, your purchases might just fall under the classification of luxury goods. While the bankruptcy code does not explicitly state what are considered to be luxury goods, they are generally considered to be anything aside from the necessities like food and essential medicine, as well as utilities. Cash Advances Could Possibly be Non-Dischargeable Any cash advances that are made within 70 days of filing for bankruptcy are also cannot be discharged if they exceed $1,000. If you took out a cash advance to have money for the holidays now may not be the best time to file for bankruptcy. A Holiday Bonus Might Prevent You from Getting a Chapter 7 A Chapter 7 bankruptcy is the easiest type to file and compares you to the income of a household similar in size to your own located in Florida if you are not already under the median of the state as a whole (by which means you would automatically qualify). Income can include any bonuses that you may have received from work, and this can impact your means check, pushing you past the limit needed to get a Chapter 7. Instead, you may need to file for a Chapter 13 bankruptcy, which is more difficult. Conclusion If you are having a difficult time deciding when you should file for bankruptcy and you live in Tampa or the surrounding area, don’t hesitate to contact the trusted experts at Weller Legal Group. Boasting a stellar track record and serving clients with the highest quality of service for nearly three decades, Weller Legal Group will do all in its power to assist you through this difficult time. When filing for Chapter 7 or Chapter 13 bankruptcy make sure that you get the best bankruptcy attorney to help you get your life back on track. Contact Weller Legal Group today. Picture Credit: Freepik --- - Published: 2021-01-18 - Modified: 2021-01-18 - URL: https://www.jayweller.com/the-benefits-of-chapter-13-bankruptcy-for-businesses/ Unfortunately as a business, you can’t file for protection under Chapter 13 bankruptcy unless you’re a sole proprietor who’s worried about losing your property. In this case, you’ll want a lawyer on your side who’s helped other small businesses analyze their options for bankruptcy. They can help you determine if a Chapter 7 liquidation is appropriate for you or if you should be pursuing a Chapter 13 instead. Sole Proprietors It’s important to understand who a sole proprietor is. According to the law, they’re someone who’s running a business in their name and with their Social Security number. In other words, there isn’t a legal distinction between the person and the business that they own. Instead, they hold business assets in their personal name and they’re also personally responsible for any debts the business incurs. For instance, someone who works as a freelance writer is a sole proprietor. You should know that not every small business is operated as a sole proprietor. You could also be organized as an S Corp, a partnership, or a limited liability company (LLC). If you’re not a sole proprietor you should consider filing for a Chapter 11 bankruptcy. Non-Exempt Business Assets There’s a huge drawback to having a Chapter 7 liquidation as a sole proprietor. This is because you could lose your assets. For instance, if you can’t exempt your assets (e. g. car, investments, vacation property) the trustee could sell them even if you’re only trying to eliminate business debt. This is because when you’re a sole proprietor there isn’t any distinction between you and your business. A Chapter 13 bankruptcy can help you here. This is because you won’t lose any non-exempt property. Instead, for a period of up to 5 years, you’ll be required to pay your creditors your disposable income. There are some drawbacks to filing a Chapter 13 bankruptcy. The main one being its duration. Three to 5 years is a long time and your case will be dismissed if you don’t stick with the plan. Secured Loans With a Chapter 13 bankruptcy, your debtors can reduce how much of the principal you own on certain debts. For instance, if you owe $14,000 on a car that’s only worth $10,000 you can use a “cramdown” to reduce the amount you owe. Remember that when you’re a sole proprietor there’s no distinction between your personal and business debts. This is important because you can use a cramdown to reduce the amount of money you owe on non-business assets too. You should know that this isn’t available on your mortgage but it is available for your other property - including your investment properties. To understand how to use this to your advantage you’ll want to speak with an attorney. Getting the Help You Need When you’re considering filing for a Chapter 13 bankruptcy you’ll want to have the expertise of a good lawyer on your side. If you live in Tampa, FL, you should take time to schedule an appointment to... --- - Published: 2021-01-04 - Modified: 2021-01-04 - URL: https://www.jayweller.com/tampa-bankruptcy-attorney-celebrates-27-years-of-service-in-the-bankruptcy-court/ Jay Weller, founder and President of Weller Legal Group has this year completed more than 27 years representing persons and small business in the Bankruptcy Court. Mr. Weller has devoted the majority of his professional legal career to the representation of Debtors, and Debtors only, in the Tampa Bankruptcy Court. Mr. Weller primarily represents clients in the filing of Chapter 13 Bankruptcy and Chapter 7 Bankruptcy. In the greater Tampa Bay area, Weller Legal Group has represented individuals and small businesses in many thousands of Bankruptcy cases. For those residing or working in Tampa, Florida, and its surrounding communities including Pinellas, Hernando, Polk, and Hillsborough Counties, Mr. Weller is generally available to meet or speak personally to those contemplating the filing of Bankruptcy. Tampa residents may call 813-229-3328 (DEBT) or 1-800-407-3328 (DEBT) to schedule a consultation with Mr. Weller. One may also reach our offices by submitting a “contact form” through our website. Picture Credit: Google maps --- - Published: 2020-12-28 - Modified: 2020-12-28 - URL: https://www.jayweller.com/tampa-bankruptcy-attorney-explains-bankruptcy-options/ If you are in debt, bankruptcy might present an option. Many today are struggling with mortgage and automobile payments, credit cards, and other debts. Due to mandatory and voluntary shutdowns of many small and larger businesses during this time of what is often referred to as the coronavirus pandemic, the economic toll has been dramatic. Chapter 7 Bankruptcy will often help relieve a Debtor of unsecured debt, such as credit cards, medical bills, signature loans, phone bills, and other such debt. Such debt is called unsecured debt because it is not secured by collateral. A car loan is a type of secured debt. If you are delinquent on your automobile payment, the creditor or lender may take your car. Chapter 7 bankruptcy is referred to as a Liquidation. However, that does not mean that if you file Chapter 7 all or even some of your possessions will be liquidated, taken, or sold. The bankruptcy code provides something called exemptions which designate what assets from the bankruptcy trustee in his determination of what assets may be properly subject to liquidation. Exemptions in bankruptcy is a very large topic. If you are considering whether to file bankruptcy, Mr. Weller would be happy to explain to you how the exemptions work in your own case. Chapter 13 bankruptcy is another form of bankruptcy where a Debtor may seek to consolidate his or her debts over a term of generally between 36 to 60 months. Chapter 13 bankruptcy is sometimes referred to as a debt reorganization or wage-earner’s plan. Chapter 13 bankruptcy is often filed by persons or individuals who are behind on their home payments or mortgage. Chapter 13 can sometimes be employed to reduce monthly automobile payments and stop the repossession of automobiles. If a person significantly exceeds his allowable exemptions, he may seek to file a Chapter 13 to retain those assets and pay an appropriate amount to his or her creditors based upon the value of those assets, and many other factors. Again, Mr. Weller will patiently explain such issues after a full analysis of the issues and facts particular to your situation. Weller Legal Group has an office in Tampa, Florida on Westshore Boulevard. Our office is conveniently located on Westshore between the intersections of Dale Mabry and Lois. Since 1993, Mr. Weller and Weller Legal Group have represented many clients in bankruptcy matters. If you are interested in filing bankruptcy or simply wish to know what options are available, you may contact us through the website or by calling our office. Picture Credit: Pexels --- - Published: 2020-12-21 - Modified: 2020-12-21 - URL: https://www.jayweller.com/five-things-to-do-to-reduce-financial-stress/ Financial stress can come from any number of different causes. Whatever the reason may be for your financial anxiety, there are a few helpful tips that you can always keep in mind to get things back on track. Don’t let your finances become a hindrance to your physical and mental health, follow these simple tips so that you’ll have one less thing to worry about day by day, and if you ever need to look for a bankruptcy or credit repair attorney, know that The Weller Legal Group has you covered. Figure Out How Much it is That You Owe One of the ways that you can reduce the stress that is brought about by your financial situation is by identifying exactly how much it is that you owe. A large amount of stress can stem from not knowing how much it is that you owe, as you may think you are down an inescapable hole of debt when in reality you can recover quite easily! Separate your debts and bills into categories to make it easy to distinguish between what it is you need to pay and what has been paid. Keeping careful track of what you owe will take away a significant amount of stress as you will be able to work towards a tangible goal. Search for Means of Financial Support Times are hard, especially now due to the recent pandemic. Thankfully, if you have lost your job due to this event, you can apply for unemployment benefits. This even applies to those who were self-employed! Tap any and every government assistance program that is available and don’t give up on the search for a new job. Don’t give up, and keep striving to find a job that can provide you a steady income while you are still able to benefit from various forms of government aid. Forego Everything but the Necessities It may be difficult for some, but one of the best and easiest ways to help yourself get back on top of your financial situation is giving up luxuries and cutting out unneeded expenses. Canceling subscriptions to services and cutting out fast food and new video games is a great way to help yourself get back in control of the situation. And for most people, you will see quite an increase in your available funds after doing this! Budget Your Money Set limits on your spending and enforce them strictly. You will be surprised with how much more in control you can become with your money after doing this simple thing. Get in Contact with a Bankruptcy Attorney Lastly, should you ever find yourself needing help from an expert in the field of financial management, you can contact a bankruptcy attorney. Weller Legal Group offers some of the best attorneys in the business right here in Tampa, Florida. Get in touch with an expert to get your finances back on track. Conclusion Following these simple tips will help to relieve your financial stress very quickly.... --- - Published: 2020-12-14 - Modified: 2020-12-14 - URL: https://www.jayweller.com/tampa-area-residents-can-lower-automobile-payments-through-chapter-13-bankruptcy/ For Tampa area residents struggling with automobile payments, Chapter 13 Bankruptcy may offer some relief. A Debtor filing Chapter 13 Bankruptcy can employ numerous strategies to not only achieve a lower monthly automobile payment but in some cases, also the arrangement to pay only the true fair market value for his or her automobile. The Tampa Bankruptcy Court appears to hold the minority rule in the treatment of automobiles in Chapter 13 Bankruptcy. Every Bankruptcy Court in the United States will generally hold that if a Debtor seeks to “value” or to pay only the true fair market value of the automobile, through the Chapter 13 Bankruptcy, then the Debtor must have owned the automobile for more than 910 days. This is referred to as the 910 day rule. There is a number of generally recognized exceptions to the 910 day rule. If the Debtor purchased the vehicle for a primarily business purpose, if the vehicle was purchased for the use of another person, or if the automobile or vehicle loan was rendered for a vehicle already owned by the Debtor, then the Debtor may seek to pay only the true value of the vehicle through the Chapter 13 Bankruptcy, although the Debtor may have owned the automobile less than 910 days. The majority of the Bankruptcy Courts appear to hold that if the Debtor meets one of the above exceptions to the 910 day rule, then it is irrelevant how long the Debtor owned the vehicle. The minority rule is if the Debtor meets one of the exceptions, he or she must own the vehicle for at least a year in order to value the automobile. The Judges in the Tampa Bankruptcy Court appear to favor the minority rule. In the Tampa Bankruptcy Court, a Debtor may also seek to pay the balance of the vehicle over a period of up to 60 months, often with a reduced interest rate. This option is sometimes employed by Debtors who do not satisfy the requirements of the 910 day rule. However, this option may for some Bankruptcy filers, dramatically reduce their monthly automobile payments, and save a significant amount of interest paid to the lienholder or lender. A final option for a Tampa automobile owner is to simply surrender the vehicle through either the Chapter 13 or Chapter 7 Bankruptcy. For those residing in the Tampa Bay area, there are many options given in Bankruptcy proceedings pertaining to a filing Debtors automobile or vehicle. Chapter 13 or Chapter 7 Bankruptcy can afford additional relief from unsecured debts, such as credit cards, medical bills, as sometimes even tax debt and student loans. If you are considering Bankruptcy, and reside or work in Tampa, our office is conveniently located on Westshore Boulevard, close to the Dale Mabry intersection. We also have offices in Clearwater, Port Richey, and Lakeland. If you are considering Bankruptcy please contact our office either through our website or simply by calling our office. The Toll Free Number is 1-800-407-3328.... --- - Published: 2020-12-02 - Modified: 2020-12-02 - URL: https://www.jayweller.com/get-financial-support-to-relieve-your-financial-stress/ Financial stress is caused by constantly being in debt. Not being able to earn sufficiently, the constant reminder of raising money for the children's schooling, or being married to a person that is not good at handling money are some of the issues commonly faced by people. If there was a way of reducing the financial worries there is every chance that you will succeed in concentrating on other significant areas of your life and be able to relax more. By being aware that you have a plan for handling your financial situation, there are a few things you may be able to do to improve your financial support and reduce the stress to make it simpler to function every day. 1. Have a budget There is every chance that you can get overwhelmed by thinking about having a budget because it may add to your financial stress. However, keep in mind that it is the best way of getting control of your finances and stop having to worry constantly about financial support. Having a budget in place means you get to decide where and how you are going to spend the hard-earned buck. Having a spending plan ensures that you can cover your immediate expenses as you are working toward your saving goals. You will find that you have the extra financial support towards the debt. The first few months of planning your budget and sticking to it can be challenging. However, after you have understood what is required you can decrease the amount of time working on it. This also means less time worrying about financial support. 2. Have an emergency funds account The emergency fund account is a saving account created to cover unexpected expenses and other financial emergencies. Even though a car repair is stressful and expensive, if you have created an emergency find account you can tap into it. A lot of the stress will go away in this manner. This also makes things are easier for you to manage by staying within the budget as planned because you are aware of the additional money you have in the emergency fund account. You need to have at least $1000 in this emergency account till you are out of the debt completely. After this, you need to target having 3 to 6 months' living expenses in the account. Building this account may appear difficult in the beginning especially when you are struggling to manage the available financial support every month. You can put aside smaller amounts such as $10 or $50 every month to build the emergency fund account. You can also think of selling the unused items around the house to build the cash pool quickly. 3. Decide what you can change If you are facing financial problems there may be some problem with your earning method, spending methods, or a blend of these two. If you are aware that you are not making sufficient money to stay with the current bills determine what you... --- - Published: 2020-11-10 - Modified: 2020-11-10 - URL: https://www.jayweller.com/fear-of-medical-bankruptcy-among-americans/ More than 50% of adults living in America are worried about their household facing a major health issue. They fear medical bankruptcy according to a study made by West Health and Gallup. The worst part of the problem is that this fear is increasing when compared to the last few years. During the last year alone this fear increased by 12% among adults aged between 18 to 29 and by 9% among people ages 30 and 49. Then there is the problem of unpaid bills. 15% of the people admitted that there is at least one person in the house that has a medical debt that cannot be paid in the upcoming year. Many participants in the survey indicated that they will have to borrow money to pay their medical bills. Medical bankruptcy among colored and lower-income group people This issue is more pressing among people of color. The survey indicated that more than 20% of non-White participants of the survey reported that someone in the household was carrying medical debt. This percentile is 12% in the case of the White U. S. population. The lower-income people earning less than $40,000 annually were more likely to carry medical debts than those earning in the excess of $1, 00, 000 every year. The percentage varies between 28% to 6% for these earning groups. Alternatives to paying the medical bills At the moment 26% of adult people with pending medical bills in the excess of $500 said that they will have to borrow money to pay the bill. 12% of the people with pending medical bills said that they will use their credit cards or get a loan from money lenders for the purpose. 14% said that they will have to borrow money from friends or family for this purpose. Respondents of the survey were split about when they could possibly repay the loan. They have to repay the loan at the end of the month in case of credit cards and this debt can become accruing in the event of non-payment. Non-whites and lower-income patients are more likely to be affected in this case as well. A whopping 43% of non-White adults admitted that they will need to borrow money for repaying their medical debt in the excess of $500 while 46% of the people from lower-income groups admitted about the same fate. Medical bankruptcies and the general election Due to the reasons listed above the out-of-pocket healthcare costs remain at the top of the agenda for the upcoming presidential election in the U. S. in November as shown by the survey. 35% of the people said that lowering the financial responsibility of the patients and relieving the out-of-the-pocket healthcare expenditure is among the top issues for the voters in the general election. COVID-19 healthcare These results were announced by the survey in the midst of the COVID-19 pandemic. Both patients and healthcare professionals were looking at coronavirus care costs closely. The price-tag on the treatment of the illness was marked... --- - Published: 2020-11-02 - Modified: 2020-11-02 - URL: https://www.jayweller.com/tampa-bankruptcy-2/ Will there be more bankruptcy filings in Tampa? Perhaps. The Covid-19 or Coronavirus event, or more specifically, the response to what is described by some as the Coronavirus Pandemic, has resulted in the closure of many Tampa businesses, and the loss of employment for many thousands of persons living in Tampa, and its surrounding environs. Most destructive is the restrictions on small restaurant owners. The small restaurants were the first target of the shutdowns. Those without a strong takeout clientele or a drive through service were undoubtedly heavily affected by the shutdowns. Many small businesses, and restaurants, even in the best economic environment, tend to struggle. The measures recommended, or possibly ordered, to address the described Coronavirus Pandemic, were for many small businesses in Tampa, the death knell. For some Tampa businesses, bankruptcy may offer relief and the ability to continue the operations of the business or company. While bankruptcy may not permanently stop an eviction, bankruptcy can give the debtor sufficient time to cure arrears owing. Bankruptcy may also allow Tampa businesses to reorganize their debts, through either a Chapter 13 bankruptcy, Chapter 11, or the newly available Chapter 5 for small businesses. Although Chapter 13 is available only to an individual and not a corporation, an individual operating as a non-incorporated sole proprietorship, for example may file Chapter 13 bankruptcy, to organize its debts. In such an instance, one can consolidate both personal and business debts into one device, the Chapter 13 bankruptcy. There are options for individuals and businesses in Tampa struggling with debt. Since 1993, Weller Legal Group has represented many thousands of debtors in the Tampa area. In most cases, we are able to formulate a strategy that is amenable to our clients. If you reside in Tampa or have business operations in Tampa, our office is conveniently located on Westshore Boulevard, between Dale Mabry and Lois. Mr. Weller, the principal attorney at Weller Legal Group will gladly meet with you to discuss any financial issues you may be experiencing. You may contact our office by calling 813-229-3328 or Toll Free at 1-800-407-3328 (DEBT). Also, you may contact us through our website at www. jayweller. com. Picture Credit: Pexels --- - Published: 2020-10-26 - Modified: 2020-10-26 - URL: https://www.jayweller.com/how-to-avoid-defaulting-on-your-car-loan/ Unfortunately, this has been a challenging year in many aspects. Unemployment is no exception. Many people have seen their hours at work reduced while others have had their jobs disappear altogether. When this happens, it results in making tough decisions regarding when and how to spend your money. This may leave you feeling desperate to keep your car. Nobody would blame you for feeling this way. After all, if you don’t have a vehicle it’s very hard to get anywhere. Fortunately, there are some things that you can do to secure your car loan and keep your vehicle from being repossessed. Talk to your lender Now is a great time to have a discussion with your lender about your financial difficulties. You may be surprised to learn that lenders have multiple debtors who are going through the exact same thing as you are right now. They won’t be surprised when you call them on the phone to explain to them why you’re unable to make your monthly payment. However, you may be pleasantly surprised by the fact that they may have a program that was set up to help their borrowers throughout the current pandemic. When you call to discuss your issues with your lender, make sure you’re honest. Tell them about your current financial difficulties and why you can’t pay your car loan. You may have to provide your lender with paperwork that shows you’ve lost your job (e. g. a letter from your previous employer). Make sure you also tell your lender if you think this is a short-term problem and when you expect to be back to work. This is definitely a phone call you’ll want to make before your payment is due so you can avoid a loan default. Doing so will also give you more options. Remember, once the repossession process is started, your lender may not be able to stop it. Think about a deferral program Due to the pandemic, there are a lot of lenders who are deferring payments by 90 – 180 days. This will give you some breathing room so you can find stable employment. If you’re offered this, there are some details you’ll want to discuss, including: · Does interest continue accruing throughout the deferral? If so, can you just pay the interest? · When the deferment ends do the loan get lengthened or are your monthly payments increased? · Are there any additional fees? · Do you have to sign a new agreement? Look into refinancing Refinancing is oftentimes a better option than a deferral, especially if you still have good credit. With decreasing interest rates you’re able to save a lot of money on your monthly payment. Of course, if you’re still unable to make the monthly payment you shouldn’t refinance as it’d be pointless. Sell your vehicle or trade it in It’s possible that you’re spending too much on your car – something you may not have realized until now. This could be a good time to... --- - Published: 2020-10-05 - Modified: 2020-10-05 - URL: https://www.jayweller.com/workout-one-day-per-week/ Lifting weights one day per week may be the better approach for many people seeking to develop and improve their musculature. Those who are new to the process of building the body or muscles through weightlifting, or body building, often find that they achieve much of their improvement in musculature during the initial weeks or months of their training. These gains are often referred to as “newbie” gains by personal trainers or coaches. When one initially begins lifting weights, the hypertrophy, or muscle growth, is more dramatic. As one becomes an advanced weightlifter, the rate of hypertrophy tends to lessen. Many find their improvements in strength and muscle eventually lessen, or arrest entirely. Many others will experience a decline in muscle and strength despite rigorous commitment to training. There are certain concepts in weightlifting that are without dispute. From there, one can construct a strategy which seeks to build strength and muscle. 1. In order to build strength, one must engage in some form of physical activity. 2. One must have a period of rest following the physical activity to enable the body to recover from the same activity. These are the two and possibly only two concepts that are universally accepted by not only the population with only a cursory knowledge of exercise and weightlifting, but more serious examiners of the subject. Apart from these two concepts, the opinions can vary greatly. VOLUME AND INTENSITY Many successful bodybuilders advocate more a higher volume workout schedule that involves between three to five sets per exercise, multiple exercises per body part (chest, shoulders, back, etc. ) and generally repetitions exceeding 6-8 repetitions or even 15-30 repetitions. Some bodybuilders who advocate the high volume training method will propose a split-routine wherein the subject will exercise each body part two times or more per week. For example: Monday Chest/Shoulders/Triceps Tuesday Legs Wednesday Back/Biceps Thursday Chest/Shoulders/Triceps Friday Legs Saturday Chest/Shoulders/Triceps A low volume and high intensity training method was proposed by Mike Mentzer, Arthur Jones, and later by Dorian Yates, and Nick Walker today. Each of these men have their own version of a low volume and high intensity workout. Mr. Jones influenced Mr. Mentzer significantly. However, Mr. Mentzer’s application of the low volume and high intensity training principles are very different from Mr. Jones. MIKE MENTZER’S HIGH INTENSITY TRAINING SCHEDULE FIRST WORKOUT CHEST PEC DECK OR DB FLYS (6-10 REPS) (SUPERSET) INCLINE PRESS (1-3) BACK CLOSE GRIP PALMS-UP PULLDOWNS (6-10) DEADLIFTS (6-10) a. Interlock grip, flat back, head up, hands slightly wider than shoulder, hips lower than shoulders SECOND WORKOUT LEGS LEG EXTENSIONS (8-15) (SUPERSET) LEG PRESS OR SQUATS (8-15) STANDING CALF RAISES (12-20) THIRD WORKOUT SHOULDERS DB LATERALS (SIDE RAISES) (6-10) REVERSE PEC DEC (6-10) ARMS BARBELL CURLS (6-10) (SUPERSET) TRICEP PUSHDOWNS OR DIPS (3-5) FOURTH WORKOUT LEGS LEG EXTENSIONS (30 LBS MORE) (STATIC HOLD; 10-25 SECONDS) (SUPERSET) SMITH OR FREE WEIGHT SQUATS (8-15) STANDING CALF RAISE (12-20) ON SUPERSETS, start warm-up on second exercise. REST: 4-8 days rest between workouts. ONE... --- - Published: 2020-09-14 - Modified: 2020-09-14 - URL: https://www.jayweller.com/acceleration-of-business-bankruptcy-filings/ Running a profitable business is always hard work, and unfortunately, the coronavirus pandemic has made it even harder. The number of businesses that have filed for bankruptcy has skyrocketed since lockdowns began, and the rate has shown few signs of slowing. Business bankruptcy filing rates this year have been the highest since 2013 and surging cases of Covid-19 across America point to the elevated rates remaining high for the foreseeable future. If you own a business that is struggling with debt due to the coronavirus pandemic, it may be a very stressful time for you. Fortunately, there are a few steps you can take in order to protect your business. State-wide lockdowns have had the most detrimental effect on businesses, but they have not been the only cause of reduced business. Even in the reopened state, high unemployment leads to fewer people spending money, and the risk of infection leads to fewer people going out for unnecessary reasons. Federal programs so far have only been able to provide limited relief, with rollout being flawed at best. Programs like the Paycheck Protection Program (PPP) have been first-come, first-serve rather than need-based, leading uneven distribution of funds. Chapter 11 Filings Chapter 11 bankruptcy is a particularly attractive form of business bankruptcy because it allows the company to continue operations while they reorganize their debt. It can also allow them to qualify for new financing which can go a long way in helping a business survive. In the post-coronavirus economy, several well-known corporations such as Hertz, Crew, C. Penney, Chesapeake EnergyGold’s Gym, and Cirque Du Soleil have all filed for chapter 11 bankruptcy protection. Others, like AMC theatres, are reportedly on the verge of filing as well. Entertainment companies, gyms, and travel-related businesses are all heavily at risk during the pandemic as they are some of the first required to shut-down in the event of a state-wide lockdown. Looking to the Future The highest rates of chapter 11 bankruptcy filings came during the 2008 financial crisis and recession. However, current rates of business bankruptcy may soon overtake that record. For comparison, the first have of 2020 has seen almost the same number of chapter 11 filings as the first half of 2008. With no clear end in sight for the coronavirus pandemic and a potential second wave on the horizon, filings will most likely continue to increase. If a second wave results in further lockdowns, businesses that survived the first wave may be forced to close permanently. Chapter 11 bankruptcy is more likely to affect small businesses than large corporations, a trend which has been noted by Business Insider. According to a recent report, larger companies are more likely to be in a position to borrow money in order to survive the decrease in business. They have particularly taken advantage of Investment Grade Bonds, which hit $1 billion in sales in May of this year, setting the record for annual sales. The pandemic has led to a decrease in loan interest rates, making... --- - Published: 2020-08-31 - Modified: 2020-08-31 - URL: https://www.jayweller.com/bankruptcy-and-evictions/ Prior to the enactment of the 2005 Bankruptcy Abuse and Consumer Protection Act, the filing of a bankruptcy generally operating as a stay of eviction proceedings. In bankruptcy, this is referred to as the automatic stay. Today, the bankruptcy filing: Does not stay or stop an eviction order or a judgment for possession; If there is no judgment for possession or eviction the bankruptcy filing generally means the eviction is at least temporarily stopped or stayed; The bankruptcy filing does not stay eviction proceedings if the eviction is being sought due to tenant’s illegal use of controlled substances on the property, or other actions that endanger the property; Even if an eviction order is granted, a bankruptcy filer may have the automatic stay reinstated, provided the applicable State law allows the tenant to pay or cure the amounts owed to the creditor or landlord; Florida law permits a tenant, who is in dispute with a landlord over rent or the appropriate rent to be paid, to contest the amount claimed by the evicting landlord, and deposit the tenant’s claimed appropriate rent; Florida statute 83. 60(2) permits a tenant to pay into the registry of the court, the accrued rent as alleged in the complaint, or as determined by the court. The statute does not appear to grant the tenant an opportunity to cure the arrears owed after the eviction order is granted. Despite an instance wherein the debtor in bankruptcy does not have the protection of the automatic stay, there is nothing precluding the debtor from entering an agreement with the landlord or creditor, which would typically involve the debtor paying any arrears owed, either in full or over a period of months, along with normal rental payments as they become due. This is an option often employed by a debtor seeking to accept a lease in bankruptcy and providing prompt cure of arrears. This concept also relates to the bankruptcy law concept of adequate protection. Bankruptcy code section 362 (11 USC 362) governs the automatic stay. Bankruptcy code section 362(a)(3) states that the filing of the petition operates as a stay of any act to obtain possession of property of the estate or to exercise control over property of the estate Bankruptcy code section 362(b)(22) lists an exception to the automatic stay where the lessor has obtained before the filing of the bankruptcy petition a judgment for possession of the property against the debtor. This exception applies to residential property in which the debtor resides as a tenant. Bankruptcy code section 362(b)(22) is subject to section (l) Subsection (l) of section 362 states that subsection (b)(22) applies on the date that is 30 days after the date on which the bankruptcy petition is filed if the debtor files with the petition and serves upon the lessor a certification under penalty of perjury that: Under nonbankruptcy law applicable in the jurisdiction, there are circumstances under which the debtor would be permitted to cure the entire monetary default that gave rise... --- - Published: 2020-08-24 - Modified: 2020-08-24 - URL: https://www.jayweller.com/determining-applicable-exemptions-in-bankruptcy/ STEPS 1. Bankruptcy Code Section 522 states that in determining what Exemptions the Debtor shall apply, whether Federal or State Exemptions, one must refer to Bankruptcy Code Section 522(b)(3)(A). The applicable Bankruptcy Section states that the Domicile of the Debtor for the 730 days preceding the filing of the Bankruptcy Petition determines the applicable Exemption. Domicile is generally defined as the place where the Debtor intends to make his or her permanent home. 2. If the Debtor’s Domicile was not in a single State for the 730 days preceding the filing of the Bankruptcy Petition, then the applicable Exemptions are those provided by the Domicile of the Debtor for the period which is 730 days preceding the filing of the Bankruptcy, in addition to the 180 days preceding the 730 days. 3. If the Debtor’s Domicile was in multiple States for the 180 days preceding the 730 days, before the Bankruptcy filing, then the applicable Exemption is determined by the Domicile which the Debtor retained for the greater part of that 180 day period. This is generally defined as more than 91 days, however, if the Debtor had 3 or more Domiciles, then the applicable Exemption is determined by the Domicile of the Debtor for the greater part of that period. 4. Determine which Exemptions are applicable. Some States only the Debtor to use its Exemptions. These States are referred to as opt out States. Some States allow the Debtor to use either the State or Federal Exemptions. Some States only use the Federal Exemptions. 5. Investigate the applicable State Exemptions. You must read the actual Exemption Statutes of the applicable State. Some Exemption Statutes only apply to residents of that State. Many Exemption Statutes, particularly in reference to the Homestead, are not extraterritorial. In such instances, one may not employ such Exemptions to the protection of the subject asset or assets. 6. If the Debtor, in application of the old State’s Exemptions, is left without any usable Exemptions because the State Exemptions only apply to residents or property within the State, and the opt out option only applies to residents of the old State, then the Debtor may invoke what is referred to as the savings clause. The savings clause holds that “if the effect of the domiciliary requirement” under Bankruptcy Code Section 522(b)(3)(A) “is to render the debtor ineligible for any exemption”, then the Debtor may employ the Federal Exemptions. In such an instance, in the opinion of this author, if the Debtor is able to use ANY Exemption under the laws of the old State, then the Debtor may not invoke the savings clause, and employ the Federal Exemptions. An excellent article entitled “Homestead Exemptions” by William E Brewer of the Brewer Law Firm in Raleigh, North Carolina maintains that even if the Debtor is able to employ one exemption under the laws of the old State, the Debtor is unable to employ the savings clause, and apply the Federal Exemptions. Writes Mr. Brewer, if the Debtor... --- - Published: 2020-08-17 - Modified: 2020-08-17 - URL: https://www.jayweller.com/tampa-businesses-and-coronavirus-closed-closing-and-not-coming-back/ Due to the reaction, both public and private, to what is described as the coronavirus pandemic, many businesses in the Tampa and greater Hillsborough County region, are closed. Many of the small businesses, particularly the small, family owned restaurants, are perhaps, permanently closed. Most small businesses generally operate on very thin margins. The taxes, regulations, and accelerating costs of operation have made the creation and continuation of many small businesses, largely untenable. The response to what is described as the coronavirus pandemic, whether through the influence of the reporting by the media on the general population, governmental action, and the closures of businesses, whether voluntarily or involuntarily, has been the death knell for many small businesses. The Tampa and Hillsborough County region is replete with many vacant storefronts, former restaurants, and buildings. One may make their own investigation, by driving through various commercial portions of Tampa, to discern the truth of this statement. However, there is hope within the economic destruction imposed on many of the residents of Tampa and Hillsborough County. Yes. Your loss of employment, or even the loss of the business that you created, is a great hardship. But, from hardship one can forge a stronger and resolute personage. For some, the extended time in which their daily activities were interrupted, became an opportunity to examine many things, not only about the nature of the system in which they dwell but also more detailed personal criticism. For those who engage as a sole proprietor or small business owner, these moments are especially profound. Such persons are among the last of the people for whom such concepts as freedom and self-determination have great and real meaning. For most small business owners, especially those who have endured and continued, or even flourished financially, in their business operations for numerous years, the primary reason they have continued, despite large obstacles is because they value freedom over servitude. For a small business owner, the ability to endure and continue is the mark of success. Financial reward is secondary. Freedom, albeit not in its absolute form, is their primary impetus. So, these are a special breed of humans. They will always find a way. They generally have the essential drive and motivation, fortitude, courage, and skills necessary to survive and endure. So, are these small business owners gone and never coming back? Perhaps, but what percentage will decide not to come back based on a logical assessment that it is just not worth it. Such Tampa business owners may decide that their talents, intelligence, and energy could be more productively devoted to other activities and efforts. This may mean separating themselves from a system which to them appears not only not supportive, but even punitive. So, as such business owners vanish, so will Tampa, and other cities and localities, diminish. Small business owners create most of the jobs in the United States. There will be a further centralization of every form of industry. The quality of products and services will continually become... --- - Published: 2020-08-10 - Modified: 2020-08-10 - URL: https://www.jayweller.com/florida-fraudulent-transfers/ Florida has a statutory provision, formally referred to as the Uniform Fraudulent Transfer Act. (726. 101) Florida Statute 726. 105 governs when transfers are considered fraudulent as to present and future creditors. These ELEMENTS must be present for a transfer to be considered fraudulent: TRANSFER made or OBLIGATION incurred by a DEBTOR CREDITORS claim can arise BEFORE or AFTER the obligation was incurred DEBTOR made TRANSFER with: ACTUAL INTENT to hinder, delay, or defraud any creditor of the debtor OR (CONSTRUCTIVE INTENT) DEBTOR did not receive REASONABLY EQUIVALENT VALUE in exchange for the TRANSFER OR OBLIGATION AND Was engaged or about to engage in a transaction for which the remaining assets of the debtor were unreasonably small in relation to the business or transaction OR Intended to incur, or believed or reasonably should have believed that he or she would incur, debts beyond his or her ability to pay as they become due FACTORS IN DETERMINING ACTUAL INTENT Transfer or obligation was made to an INSIDER Debtor retained POSSESSION or CONTROL of the property AFTER the transfer TRANSFER or OBLIGATION was DISCLOSED or CONCEALED Debtor was threatened with a LAWSUIT before the transfer Transfer was SUBSTANTIALLY ALL the Debtor’s assets Debtor absconded Debtor REMOVED or CONCEALED assets Whether the VALUE of the CONSIDERATION received by the Debtor was REASONABLY EQUIVALENT to the value of the asset transferred or the amount of the obligation incurred Debtor was INSOLVENT or BECOME INSOLVENT shortly after the transfer was made or the obligation incurred Transfer occurred shortly before or after a SUBSTANTIAL DEBT was incurred Therefore, in determining whether a TRANSFER is considered FRAUDULENT under the Florida Statute, the Courts will consider whether ACTUAL or CONSTRUCTIVE INTENT exists. A Creditor outside of Bankruptcy can bring an action against a Debtor, to seek to void any transfer that may be deemed to be a Fraudulent Transfer under Section 726 of the Florida Statutes. In Bankruptcy, the Bankruptcy Trustee may seek to avoid certain transfers by employing the same Statute. Florida Statute 726. 110 Extinguishment of cause of action refers to what is commonly called the Statute of Limitations. Certain lawsuits must be brought within a prescribed period of time. One of the defenses available to the Debtor is that the action brought by the Creditor exceeds the allowable time period prescribed by the Statute of Limitations. One should carefully read the Florida Statutes, because the Statute of Limitations differs in cases in which ACTUAL versus CONSTRUCTIVE INTENT is present. Florida Statute 726. 110(1) states that under section 726. 105(1)(a), which addresses ACTUAL INTENT, an action must be brought within 4 years after the transfer was made or obligation incurred or if later, within one year after the transfer or obligation was or could reasonably have been discovered by the Creditor or claimant. Florida Statute section 726. 101(1)(b), which pertains to CONSTRUCTIVE INTENT, permits a 4 year Statute of Limitations, without the additional 1 year provision for when the transfer could reasonably been discovered by the... --- - Published: 2020-08-04 - Modified: 2020-08-04 - URL: https://www.jayweller.com/tampa-bankruptcy-attorney-explains-tampa-and-hillsborough-county-coronavirus-executive-orders/ I am an attorney who primarily practices bankruptcy. The legality of Executive Orders issued by various governmental entities or officials is not a subject to which I devote much effort. Ask a question about bankruptcy and I am likely to know the answer. There are attorneys and persons who are not attorneys who are better versed on the legality of such executive orders. This article will not address the legality or enforceability of the executive order administered in Hillsborough County and Tampa. On July 7, 2020, an Executive Order was issued, titled Executive Order Of The Hillsborough County Emergency Policy Group Requiring The Wearing Of Protective Face Coverings As Extended And Amended At Its July 6, 2020 Meeting. The most important elements of the Executive Order are the mandates and exemptions. When analyzing a Statute, Executive Order, or other legal documents, it is advised that one break down the subject of your examination into parts, in the form of an outline. Words are important and have important meanings, especially when analyzing legal documents, statutes, and governmental ordinances and executive orders. HILLSBOROUGH COUNTY CORONAVIRUS MANDATES The order states THE EMERGENCY POLICY GROUP OF HILLSBOROUGH COUNTY in a MEETING ASSEMBLED this 6th day of July, 2020, ISSUES this EXECUTIVE ORDER RESOLVING that: ALL BUSINESS OPERATORS of an INDOOR BUSINESS that is OPEN TO THE PUBLIC in HILLSBOROUGH COUNTY shall make REASONABLE EFFORTS to REQUIRE ALL PERSONS WITHIN THE LOCATION to WEAR A FACE COVERING when NOT MAINTAINING SOCIAL DISTANCING from other PERSONS EXCEPTIONS *FAMILY MEMBERS *OTHERS RESIDING IN THE SAME HOME In such an instance, the executive order, as it is described in its title, states that such business owners must make REASONABLE EFFORTS. REASONABLE EFFORTS is defined as the business owner taking the following steps: POST SIGNAGE on all PUBLIC ENTRANCES indicating FACE COVERINGS must be worn UNLESS An EXEMPTION is applicable If the BUSINESS is equipped with a PUBLIC ANNOUNCEMENT or PA SYSTEM, over which ANNOUNCEMENTS TO PATRONS are made, then make REGULAR ANNOUNCEMENTS Reminding ALL PERSONS that FACE COVERINGS MUST BE WORN REQUIRE ALL EMPLOYEES NOT EXEMPT from wearing a face covering to wear a face covering In any INDOOR LOCATION of the BUSINESS Make ALL OTHER REASONABLE EFFORTS including ASKING PATRONS not wearing face covering to do so It is important that the reader carefully consider the meaning of all the foregoing words, especially the words that the writer has displayed in bold. For example, the plain meaning of the executive order is: You are not required to wear a face covering if you maintain social distancing You are not required to maintain social distancing with family members or those residing in the same household The order does not apply to businesses that are not indoor businesses The order does not apply to businesses that are not open to the public The business owner or operator is not required to enforce the order, but are only required to follow the minimum steps, outlined above. The executive order does... --- - Published: 2020-07-27 - Modified: 2020-07-27 - URL: https://www.jayweller.com/summer-activities-and-coronavirus/ If you live in Tampa, FL, or plan on traveling there this summer, you’re probably concerned about participating in all the fun things the state has to offer. While summer is typically a prime time for vacations and amusement, coronavirus has turned all that upside down. You’re probably wondering just like everyone else in the world right now, what is safe and what is not. While social distancing and wearing a mask are key components to protect yourself and others and are the best defense at slowing the spread of the virus, what are the risks of some of the common summer activities in the area? Here are some common summer family activities that take place around Tampa, FL, and how the coronavirus might affect them. Common Family Activities Theme Parks - Moderate Risk When you think of Tampa, FL, or Florida in general, the first thing most people think of is theme parks. Some of Florida’s biggest theme parks have reopened for the summer. While plans for reopening indicated working to reduce crowd sizes, disinfecting, and encouraging social distancing, it’s hard to say how well those plans will work as visitors stream in. On the plus side, theme parks are an outdoor venue, for the most part, so ventilation doesn’t pose a problem. But on the downside, rides, seating, bathrooms, etc will all be high-touch areas and pose a great risk of contamination. Standing in lines among big crowds could also prove to be problematic. Staying in a hotel - Moderate risk While air travel has started back to normal, many families are choosing a road trip in the Family Truckster as the means of transportation. But once they reach their destination, they have to have somewhere to stay, right? Staying at a hotel is moderately risky due to a large number of guests in one building. Hotels have many common areas like elevators, pools, vending areas, restaurants, buffets, lobbies, gyms, etc. These areas are heavy in high touch surfaces. A better idea for your vacation to Tampa, FL might be a rental home promising a good disinfection process between stays. Airbnb is more popular than ever so now might be a good time to jump on that alternative accommodation bandwagon. Going to the beach - Low risk Are those Tampa, FL beaches calling your name? A visit to the beach can be a relatively low-risk activity, as long as you follow a few guidelines. Beachgoers typically try to find their own space on the sand. They do social distance themselves naturally, so just go with the flow and keep your distance. Well ventilated outdoors, the biggest risk is coming into close contact with others. Kids should stay with their families and not play with others that aren’t in the group they came with. Don’t share toys in or out of the water and keep towels to yourselves as well. Remember that the main way the virus is transmitted is through droplets shared between people, so proper social distancing,... --- - Published: 2020-07-20 - Modified: 2020-07-20 - URL: https://www.jayweller.com/bankruptcy-proof-of-claims-for-dummies/ Bankruptcy Rule 3002 governs primarily the deadlines surrounding when a Creditor must file a proof of claim under various Chapters of Bankruptcy. A Creditor that does not file a proof of claim, files such claim late, or has its claim disallowed, may find that it will be excluded from any distribution or dividend available through the liquidation of assets in a Chapter 7 Bankruptcy, or the payment to Creditors of monies in a Chapter 13 Bankruptcy. DAYS 70 Proof of claim is timely filed within 70 days after the order for relief in a voluntary Chapter 7 case, Chapter 12, or Chapter 13. The date of the order for relief is Generally defined as the date the Bankruptcy Petition was filed 90 Proof of claim is timely filed within 90 days after the order for relief is granted in an involuntary Chapter 7 case 180 Proof of claim, by a governmental unit, other than a claim resulting from the filing of a tax return under Section 1308 is timely filed if filed within 180 days after the granting of the order for relief 60 Proof of claim for a claim, by a governmental unit, for a claim resulting from a tax return under Section 1308 is timely filed 180 days after the order for relief OR 60 days after the filing of the tax return. 30 Creditor holding an unsecured claim resulting from a judgment must file its proof of claim within 30 days after the judgment becomes final, provided the judgment is for the recovery of money or property 90 If a notice of insufficient assets to pay a dividend was provided to Creditors pursuant to Bankruptcy Rule 2002(e), and the trustee thereafter notifies the Bankruptcy Court that a dividend appears available, the clerk must give at least 90 days notice that a dividend appears possible, and the date by which the proof of Claim must be filed 60 Creditor who seeks an extension of the time to file a proof of claim, may receive an extension of not more than 60 days from the date of the order granting the extension. Creditor must generally show that it received insufficient notice. 70 Proof of claim for a claim secured by a security interest in the debtor’s primary residence must be filed within 70 days after the order for relief is entered. 0 A secured claim does not need to be filed under Bankruptcy Code Section 502 or 506(d) unless a party in interest has requested a determination and allowance or disallowance under Bankruptcy Code Section 502 Picture Credit: 123rf. com --- - Published: 2020-07-08 - Modified: 2020-07-08 - URL: https://www.jayweller.com/congress-support-for-student-loans-during-the-coronavirus-pandemic/ The CARES Act was passed by the US Congress in April. This massive stimulus package was announced in response to the coronavirus pandemic and the economic downturn as a result of the spread of the crisis. The act has provided crucial relief to student loan borrowers. It has suspended all the payments and interests on the federal student loans which are held by the government. Congress has stopped all the collection activity for the defaulted federal loans also. Implementation of CARES Act for student loans has not been without a set of problems though. However, it has benefitted thousands of student loan borrowers. Although these relief provisions are valid until September 2020 at the moment. Congress may consider providing more relief after that. Here are the reasons why this extension may be provided. Economy not improving quickly The unemployment rate remains at a record high at the moment even though various states are beginning to open their economies. There are no indications at the moment that the economy will be in better positions before October. By October the student loan borrowers will have to face the repayment plan. The Federal Reserve announced earlier this month that unemployment is likely to remain on the higher side through 2021. Coronavirus pandemic is not in control Although there are some statements made by the administration officials the coronavirus keeps on spreading through many states in the country. Some states such as Florida and California announced new measures for controlling the rapidly rising number of coronavirus positive cases. Hospitalization is rising in many states and there is little evidence that the pandemic will be in control by October. Presidential elections in November The presidential elections are scheduled for November 3 at the moment. However, it is not only the current president who is up for re-election but all the 435 members of House of Representatives are also facing re-election. 35 senators are also going to be in the fray for re-election. In case the CARES Act provisions for the student loan expire in October these borrowers will face billing about the student loan days before the voting is held. Therefore there will be a huge support in the White House and Congress to keep the suspension of the payments going at least until after the election. Increased support in Congress The House of Representatives in May passed HEROES Act which is another massive stimulus bill and extended the CARES Act student loan relief provisions by 12 months till September 2021. Although the GOP senate rejected the HEROES Act, the Congress members have recently suggested that they may pass independent stimulus packages again in July. The majority in the Senate is held by Republicans and they will have to sign the HEROES Act that was passed by the Democratic majority in the House of Representatives. Steve Mnuchin the treasury secretary recently suggested in front of Congress that the administration is considering an additional stimulus as well. Although the student loan relief does not enjoy bipartisan... --- - Published: 2020-06-29 - Modified: 2020-06-29 - URL: https://www.jayweller.com/bankruptcy-treatment-of-private-school-expenses/ INTRODUCTION Parents may seek to matriculate their minor children in private schools for various reasons, including religious purposes, lack of confidence in the available public schools, and alternatively, the belief that the available private school offers a better education than the pertinent public school. The question in arises, in Bankruptcy, as to whether the debtor may deduct his or her expenses related to the debtor’s child or children’s private school enrollment. The ability to deduct such expenses may determine whether the debtor is able to file Chapter 7 Bankruptcy, or the payment required by the debtor in a Chapter 13 Bankruptcy. The Bankruptcy decisions show a reluctance among the judges to permit private school expenses as an allowable deduction. However, there are numerous instances in which such deduction was permitted. In Bankruptcy, private school tuition more than $156. 25 monthly per child is considered to not be a reasonably necessary expense. Bankruptcy Code Section 707(b)(2)(ii)(IV) establishes a ceiling of $1775 per year per child for private school tuition that may be deducted from a debtor’s disposable income. Bankruptcy Code Section 707(b)(2)(A)(ii)(IV) further requires that the tuition costs be “reasonable and necessary”. What is reasonable and necessary is not specifically defined in the Bankruptcy Code. Ultimately, that decision could be made by the presiding Bankruptcy Judge, upon the discrete facts of each Bankruptcy case brought before the Judge. The line of cases that have found such private expenses to be reasonable and necessary have tended to have the following facts or situations present: DISABILITY, MENTAL CONDITION OR OTHER EDUCATIONAL NEED OF THE CHILD THAT IS AMELIORATED BY THE CHILD’S MATRICULATION IN THE PRIVATE SCHOOL THE PARENTS HAVE SACRIFICED OTHER EXPENSES IN ORDER TO AFFORD THE COSTS DEMANDED FOR THE CHILD’S MATRICULATION IN THE PUBLIC SCHOOL THE ATTENDING PUBLIC SCHOOLS ARE ACADEMICALLY INADEQUATE PRIVATE SCHOOL TUITION FOR A RELIGIOUS SCHOOL MAY BE DEEMED REASONABLE AND NECESSARY PARTICULARLY IF THE RELIGION TO WHICH THE PARENTS’ ADHERE, MANDATES RELIGIOUS EDUCATION LONG TERM MATRICULATION IN THE PRIVATE SCHOOL IS MORE LIKELY TO SECURE A FINDING THAT SUCH EXPENSES ARE ALLOWABLE SAMPLING OF CASES RELATED TO PRIVATE SCHOOL EXPENSES IN BANKRUPTCY A mere preference for private school is not sufficient (In Re Golematis). Private school tuition is found to be a special circumstance, wherein the child was enrolled in the school which offered special treatment for ADHD and auditory deficiencies (In Re Brown) Private school tuition for a critically ill child was deemed to be a reasonable and necessary expense (In Re Crim) In Re Cleary, the Court held enrollment in a private Catholic School was an allowable expense, not limited to the statutory ceiling of 11 USC 707(b)(2), where the family were members of the Catholic Church, the mother received a Catholic education, and worked solely to pay the tuition costs associated with the children’s enrollment in private school. Other factors were present, including the poor academic reputation of the local public schools, and the reduction of other expenses, in order to afford the private... --- - Published: 2020-06-24 - Modified: 2020-06-24 - URL: https://www.jayweller.com/credit-card-payments-during-coronavirus-pandemic/ For several people, a credit card is a significant resource when things are not going well financially. If you have lost a lot of income recently due to the coronavirus pandemic the credit card will be a significant lifeline for meeting your business requirements. However, if you fail to make the payments on time the credit card debt can add up quickly and it can become a long-term financial challenge. But most of the credit card companies are willing to work with their clients affected by the coronavirus pandemic. In case you are unable to make your credit card payment or you think you will not be able to do so in near future notify the credit card company immediately. Stay on top of the credit card payments If you are unable to make your payments on time there is every likelihood that you are facing several tough financial decisions. However, even during the tough times, there are many good rules you can follow to stay abreast of the credit card debts and you are within the striking distance of a quick recovery. 1. Try and keep making the minimum payments: It may be difficult to achieve this if you have lost your job and are forced to prioritize the bills. There will be some opportunities to get financial assistance from the credit card companies however the interest rates will continue to collect. In such cases, it will be a good idea to make the minimum payment and on time to ease up the burden later. 2. Pay close attention to billing and check out for different errors: In case you think there is an error in the credit card statement send a billing error notice to your credit card company. The company will investigate the matter within a stipulated time and respond to you. But due to the coronavirus situation most credit card providers are facing challenges. This may force the companies to take longer than usual to process your request. 3. Look for a 0% APR card: Many cards offer 0% APR for a limited period such as 12 to 15 months if you are getting a new credit card. As noted by CNBC you must pay off the balance before the promotional period is over otherwise you will start accruing interest. You can also find credit card companies that do not charge an annual fee. 4. Know the debt collection rights: In case you have a debt and the collector is trying to get in touch with you, it will make a difficult time even more difficult. First, make sure that the collector is legitimate by establishing his identity. However, keep in mind that you have a lot of rights and the collector can work on a solution with you for realistic repayment options. 5. Tell the credit card companies about the impact of coronavirus pandemic on your finances: You have to make sure that you inform the credit card companies about your situation due to the... --- - Published: 2020-06-15 - Modified: 2020-06-15 - URL: https://www.jayweller.com/planning-bankruptcy-filing-during-coronavirus-pandemic/ There is no denying the fact that coronavirus pandemic has rocked the U. S. economy badly and this has had a terrible effect on the bankruptcy filings. With an upsurge in unemployment and several businesses coming under financial pressure due to the spreading of the pandemic, it is only a matter of time before many businesses declare bankruptcy for handling their debts and make a new beginning as observed by many experts. More than 30 million people across America have become jobless and filed the jobless claims in April. The other business-activity index hit an all-time low during April and it was on the economy' service sector. The bankruptcy filing in April 2020 The bankruptcy courts will likely be flooded with cases however it has not started yet. Surprisingly there were 47% fewer cases for bankruptcy filed in April 2020 than compared to April 2019. These statistics were released by ABI (American Bankruptcy Institute). There were 36,150 cases for bankruptcy filed in the U. S. in April 2020 than compared to 67,802 in the same month in 2019. ABI is a professional association comprising of judges and lawyers that are involved in the process of bankruptcy. The number for commercial bankruptcy filing also dropped by 37% in April than compared to last year. There were 2,278 filings of this kind in April this year. However, businesses filed 26% more chapter 11 filings than last year. The famous clothing company J. Crew filed a chapter 11 case in April. Funding measures by the Congress and Administration There are many theories behind this drop in the bankruptcy filings in April. One of the reasons could be the $2. 2 trillion stimulus according to the ABI executive director Amy Quackenboss. Other help provided includes The Coronavirus Aid, Relief, and Social Security Act providing $1200 payment to the qualified individuals and $2400 to the married couples along with $500 for the child. This bill also made a provision of $349 billion for possibly forgiving the loans to small businesses. The legislators authorized another total of $320 billion for loan programs after the loan money has run out. These measures are taken by the Congress and Trump Administration for assisting individuals and small businesses when the initial shock of the economic crisis caused by the coronavirus staves off, has affected the bankruptcy filing until now. The situation for different kinds of bankruptcies However, the ABI executive also opined that bankruptcy may offer a safe route going forward. IRS has sent out as many as 90 million checks until mid-April however, most people believe that one-off payments might not be sufficient. When people will start feeling financial woes, they may not immediately opt for bankruptcy. Most people are in a state of shock and cannot think straight. With the states slowly ending the shut-down orders there will be several laid-off workers looking for employment. It is clear that bankruptcy filings are going to rake up sooner than later. It might even be too expensive for many... --- - Published: 2020-05-26 - Modified: 2020-05-26 - URL: https://www.jayweller.com/coronavirus-and-small-business-bankruptcy/ You can expect the coronavirus pandemic to shut down millions of small businesses in the upcoming months. A range of small business bankruptcies can be expected as more than 40% of the country's small businesses are expected to shut down permanently in the next 6 months due to the coronavirus pandemic. This was indicated in a poll conducted by the U. S. Chamber of Commerce. Commercial bankruptcies began to show a rise in the first quarter of 2020. Many of the small business owners are waiting for federal stimulus before deciding whether to file for small business bankruptcy. Although many of the small businesses may just disappear others could benefit from new law taking effect in February. Here are some questions you may consider if you are thinking of filing a small business bankruptcy. 1. How do you know when to quit? The small business owners need to assess their balance sheets and the first question they must ask is, do you want to keep this going? If you have lost heart it is better to call your lawyer to aid you in winding down the operations however, if you believe that the business is still viable you can think about chapter 11 bankruptcy. 2. Can restructuring help? Jot down a plan for the business world after coronavirus pandemic. How will you operate your business? Where is the revenue coming from? What will be the new expenses viz infrastructure, marketing, and more and how are you going to pivot the business around them. In case you have a plan that shows a positive balance sheet after bankruptcy the restructuring can help. Remember, chapter 11 is aiming to fix the balance sheets. You can restructure debt or eliminate it but it doesn’t guarantee revenue for you. 3. Taking a loan or filing for bankruptcy? The situation of all business owners is going to be different. However, the general rule is that in case you cannot see enough future revenue to pay off the debts, it will become even more difficult if you borrow. Many business owners do not have the personal resources anymore to draw on and might not get the federal stimulus either. Do not borrow blindly and opt for options such as credit card or non-banking lenders who charge higher interest rates. If you have reached a stage that you are thinking about them it is time to call the lawyers. 4. Is it mandatory to file for small business bankruptcy for closing the business? No. it is not. If it is possible to pay off the creditors or negotiate some kind of deal with them, there is no need to file for small business bankruptcy. However, take help from a lawyer to draft the agreement. Do not forget about withheld taxes. During difficult times a lot of small business owners use the money they had set aside for other reasons. When you have unpaid withheld taxes you become personally liable. 5. Will you be able to open another... --- - Published: 2020-05-18 - Modified: 2020-05-18 - URL: https://www.jayweller.com/5-myths-about-the-1200-stimulus-check/ In March 2020 the biggest stimulus package in the history of America was passed by Congress to counter the economic situation caused by the coronavirus pandemic. It was signed to become the law by the U. S. President Donald Trump. This $2. 2 trillion package will provide $500 billion to the industries in distress, $350 billion to the small business loans, and $260 billion for expanding the unemployment benefits program. But all the discussion is about the $300 billion set aside for direct stimulus payments. These payouts are also called Economic Impact Payments and they have started hitting the bank accounts through direct deposits on weeks ending on 17th April and will continue through to September. However, even though many people are eager to receive the check some misconceptions and myths are going around about these payouts. Here are some. Myth 1. Everybody is getting a check: No. Everybody is not going to get the stimulus check. There will be millions of people who will not get a dime from the largest stimulus package ever in history. Those who earn a high income (these are defined as those with AGI above $99,000 for a single person, $198,000 for a couple, and $136,500 for the head of the household) will not be eligible for the check. Those who are dependents aged 17 and older, non-citizens who will never be eligible for citizenship will not be eligible either. People owing to child support are unlikely to get any stimulus check. Myth 2. The maximum stimulus payout is $1200 if you qualify: Maximum stimulus payout for a single person is $1200 but for a couple, filing jointly, it is $2400. For realizing the maximum payout the annual income of the taxpayer must be below $75,000 as a single person or below $112,500 for the head of the household, and $150,000 for couples who file jointly. Those making more income than this will receive lesser payouts. If they are earning more than the mentioned slab, there is no payout at all. Keep in mind that IRS is using your recent tax filing for deciding your eligibility. Myth 3. Social security beneficiaries will not get any payment: There were some real concerns raised during the discussions about whether the coronavirus pandemic stimulus check will benefit the seniors who do not file a tax return. It turned out to be a misconception that these seniors will not get a stimulus check. IRS can use the references from the social security beneficiary’s payout record for deciding the eligibility and can direct deposit the payment in the same bank account being used for receiving the social security benefits. Myth 4. I have to apply somewhere to receive the stimulus check: This may not be a myth 100% but the chances are that you will not be required to do anything to become eligible for the stimulus check. If you have filed the federal tax return in either 2018 or 19, it means that the IRS has all the... --- - Published: 2020-05-04 - Modified: 2020-05-04 - URL: https://www.jayweller.com/corona-virus-may-lead-to-record-bankruptcy-levels/ The Coronavirus is spreading throughout the entire world. Governments have locked down countries, airlines are not flying, and people are ravaging supermarkets to stock up on basic supplies. What does this virus mean for the world and the future? At this moment in time there is going to be stimulus checks going out to low income earners over the next few months. Even with this stimulus check, these small amounts most likely will just help with just buying some groceries. For most people this check won’t even be enough to take care of their monthly rent costs. Certain studies have shown that it could be as high as 75% of American live paycheck to paycheck. If these Americans are not able to get their jobs back then this can be a real problem for the economy of the United States. Especially those who work an hourly job, their income will basically go down to zero for the next few months. This will cause a ripple effect throughout the entire economy because people will not be able to afford their rent payments, car loans, mortgages, credit card debts, and so on. Even though at this moment in time it doesn’t seem like there is an increase in bankruptcies, one interesting thing to consider is that certain bankruptcy websites have seen a surge in traffic recently. This most likely means that Americans are getting more and more interested in filing for bankruptcy due to the Coronavirus. Over the next few months we will probably see a surge in bankruptcy filings due to the everlasting effects that the Coronavirus had on the world economy. Large companies such as J. C. Penney may have their bankruptcy process be accelerated due to the Coronavirus. They were already struggling before the Coronavirus but now the future does not look too bright for them. It will be interesting to see if this once department store behemoth will be able to survive the effects of something that can only be seen by a microscope. In the future following the Coronavirus pandemic, it is most likely that J. C. Penney will not be the only large player that will be heading for bankruptcy. Airlines and cruise companies have also been taking huge financial hits due to the Coronavirus. For example, Carnival Corp, the company that is responsible for some of the largest cruise ships to sail the ocean, saw their stock drop from $51. 90 all the way down to $7. 97 in a matter of a few months. Trump has already signed a $58 billion bailout to help the airline industry go through this tough time. Airlines are an essential business and we need to get things back to normal because these stimulus funds can’t go on forever. It is rumored that Virgin Australia has already declared bankruptcy. The Coronavirus isn’t just affecting Americans. There are stories even in Thailand of famous restaurants, like Pattaya BBQ Hut that may have to file for bankruptcy if the government doesn’t... --- - Published: 2020-04-21 - Modified: 2020-04-21 - URL: https://www.jayweller.com/dealing-with-financial-stress-during-the-coronavirus-crisis/ Similar to the millions of other U. S. nationals you may find yourselves out of work at the moment due to the spread of coronavirus epidemic. Unlike other disasters where you can predict the layoff period, this is an unexpected and devastating blow for many people. There are not many answers available about when all this is going to end. What will happen to the future work, what will be the assistance available for the unemployed workers are the questions we all are curious to find answers to. All this is stressful financially and the added stress will make you feel overwhelmed. Here are some things you can do to address your financial stress and mental health during coronavirus crisis. 1. Prioritize your payments: There will be times when there isn't enough money to go around. As a result, you will not be able to complete all your payments. Therefore, it is significant that you prioritize the payments you will make initially. Take care of fundamental needs such as food, accommodation, utilities, clothing, and transport first. Remember, you will have to concentrate on necessities in the beginning. Keep an eye on the mortgage payments as many states are implementing programs to stop evictions during the coronavirus crisis. You will find utility issues in many places as the power and water supplies are shut off due to pending bills. Many credit cards, banks, and other institutions are offering assistance for financial stress. They may forgo the late fees or permit you to pay less. 2. Look for alternative income sources: At the moment it is not clear how many days the coronavirus crisis will last and how many jobs are going to get affected. Surprisingly many companies are desperate for workers right now. These include delivery companies, grocery stores, and online learning companies. They are struggling to keep up with the rising demand for their products. You can also look for opportunities in this gig economy. There are several ways such as editing skills, or graphic design skills that may provide the additional income to you working from home. Think about things you can sell. Due to the slower shipping and lack of open stores, people may be willing to pay extra for certain items. It may be a good idea to clean up your closets and get rid of the items you do not need anymore. It is possible to sell many things locally such as furniture. You can also use social media for listing the items. A listing on eBay is also possible if these things can be sold nationally. 3. Management of your mental health: Many studies have indicated a link between financial stress and poor mental health. The more the financial stress the harder it is to manage your wellbeing and vice versa. Apart from the money, you are required to worry about unemployment, disruption of the routine, and future uncertainty which are the additional factors that will affect the psychological wellbeing. Therefore it is significant that... --- - Published: 2020-04-15 - Modified: 2020-04-15 - URL: https://www.jayweller.com/when-are-my-debts-no-longer-collectible/ Laws regarding time-barred debts, a debt that is past its legal time window of collection, vary from state to state. This “time window” in which collectors must initiate a lawsuit is formally known as the Statute of Limitations. The Statute of Limitations applies to all types of lawsuits, not just those between debtors and creditors. Anytime someone wants to file a claim, whether it’s regarding a car accident, personal injury, workers’ compensation, product liability, etc. there is an amount of time from the event in which someone must make the “first move” in filing a case. In Florida, the time allowance for creditors to open a case against a debtor for medical debt, automobile repossession, and written contracts/promissory notes (this includes credit card agreements) is 5 years. In the instance that a creditor opens a case after this 5-year window, the debtor may have rights to fight it and free themselves of the claims and its resulting nuisances (phone calls, wage garnishments, etc. ) and possibly get the case dismissed. The exact date for the statute of limitations is determined by the last time of activity on the debt. Generally, this refers to the date when the last payment was made. For example, if you made your last payment on your credit card on January 1, 2020 and have been unable to make payments since, the credit card company (or it’s assignee) has until January 1, 2025 to file a lawsuit against you. If you are questioning the age of your debt, the legitimacy of the creditors coming after you, need legal advice, or simply a voice of reason, the team at Jay Weller Legal Group is here to help you. We offer free consultations where you will get to meet one on one with a bankruptcy attorney, free of cost, and discuss the best possible solution for your current situation. Picture Credit: Pixabay --- - Published: 2020-04-07 - Modified: 2020-04-07 - URL: https://www.jayweller.com/coronavirus-and-the-impending-small-business-bankruptcies/ As the coronavirus spreads rapidly across the world, the Chinese and other country's supply chain problems are not the only problem anymore. The CDC (Centers for Disease Control and Prevention) has asked for the suspension of the gathering of ten or more people in one place. Various stores, bars, and restaurants in the U. S. and other countries are closed for business. There may be a curfew in place shortly with other social distancing measures being enforced to slow down the spread of the virus. Some small businesses are adapting to these circumstances well with the local businesses encouraging their clients to purchase articles for future use. Online purchases are encouraged wherever possible. It is expected that the raised online sales will make up for declining in-store sales. Congress is in the process of passing legislation to benefit various businesses that will be hit hard by the coronavirus crisis. Filing a Chapter 11 Bankruptcy Filing for chapter 11 bankruptcy may be one of the good options for retailers facing increasing financial pressure as a result of the coronavirus crisis. If the small businesses cannot work out any deal with the lenders and landlords and in case there is no government relief available or if it is not available fast chapter 11 bankruptcy may offer a pause button for the small business owners in distress. If a small business declares chapter 11 bankruptcy it can still operate as a normal business. Chapter 11 bankruptcy means there is an automatic stay on the actions of the debtor. It stops the collection of business debts present as of bankruptcy filing. This also provides the business breathing space to stabilize their operations and allows them to work on a plan for the repayment of the creditors. In addition to that, this breathing space allows the small business owner to maintain his business as it is waiting for possible assistance via government-funded programs. In recent years, there has been constant pressure on small businesses to file chapter 11 bankruptcy to reorganize or liquidate their timetable. The retail industry has some high-value goods and a low going concern value. Due to the coronavirus crisis, this trend might go toward the more conventional chapter 11 plans. A conventional chapter 11 plan will permit the retailer to spread the debt payments over a while and take comprehensive measures for the business and adapting it to the new markets. Congress had also recently enacted the small business provisions in chapter 11 for small businesses with debts under $2,725,625. These small business filings with chapter 11 provisions will trigger automatic stay along with other bankruptcy provisions. It will also streamline the chapter 11 filing process and decrease the costing involved in chapter 11 for the eligible small businesses. After the action being taken for the small business chapter 11 provisions concerning the bankruptcy code, the small businesses to whom the conventional chapter 11 provisions were cost-prohibitive will qualify for the relief. The capabilities of the U. S. businesses to adapt... --- - Published: 2020-03-31 - Modified: 2020-03-31 - URL: https://www.jayweller.com/worried-about-income-tax-debt/ Look no further. At Weller Legal Group, we are fully equipped to help with your questions regarding the IRS. Constantly receiving mail and phone calls from the United States Treasury can seem threatening and feel unending. Weller Legal Group considers it our privilege to help you understand your options when it comes to your unique tax information. Understanding the Basics Q: If I file for bankruptcy, could I wipe out that money that I owe to the IRS? A: Yes! There are just a few requirements: Income tax is dischargeable if: It’s over three years old from the date it was initially due to be filed (typically, this date falls April 15th of the following year). For example, if you’re looking at a 2015 tax return that you owe money on, it would have to be filed by April of 2016. It is currently March of 2020, meaning over 3 years have passed since that file date, so you’d be in luck! – your income tax debt for that year would be dischargeable, meaning we could help you wipe out the debt, just like a credit card. You filed taxes more than 2 years ago. -and- there must be NO: Fraud or willful evasion. Assessments within 240 days. Tax liens. Still have more questions? Wondering if filing for bankruptcy will help your current situation with the IRS? Contact one of the dedicated team members at The Weller Legal Group today for a consultation regarding your situation. Picture Credit: Pexels --- - Published: 2020-03-19 - Modified: 2020-03-19 - URL: https://www.jayweller.com/coronavirus-covid-19-sanitization-efforts/ As the reader is probably aware, various governmental agencies have mandated that various businesses, airports, and other institutions closed their facilities, in an effort to stem the spread of the Coronavirus, otherwise labeled COVID-19. It is the position of Weller Legal Group PA that it is imperative that our offices be as clean and sanitized as possible. We are taking proactive efforts to not only sanitize each of our four offices, including the sanitization of all desks, workspaces, computers, printers, and common areas. Picture Credit: Pexels --- - Published: 2020-03-16 - Modified: 2020-03-16 - URL: https://www.jayweller.com/effect-of-coronavirus-on-americans-and-bankruptcy/ The coronavirus spreading in China has got the financial markets across the world rattled. But the experiences before such outbreaks indicate that the financial markets bounce back pretty quickly. The coronavirus treatment is likely to set back more than half the American households that have $4500 or less in saving. Medical and Insurance Related Effects of Coronavirus on Americans The coronavirus epidemic is putting the average American's financial and physical health under pressure. The death rate of the virus is progressively getting lower as the virus is not lethal for most people. However, it is severely affecting the savings of the common man in the US who is struggling to keep up with medical costs. Any trips to the ER for treating or diagnosing coronavirus sets them back by thousands of dollars and may drive them to bankruptcy. However, avoiding the treatment because of financial reasons can increase the spread of the disease. The procedures that are necessary for the treatment of coronavirus may range from $441 to $1151 concerning an out-of-network visit to the ER. According to a recently published report by the CDC, there are 27 million American citizens out there who do not have insurance. This constitutes to 8. 5% of the American population. Out of those, for people aged between 18 and 65, 28% have trouble paying for their medical bills. These stats are for the past year. However, this percentage drops to 18% for Medicare and 11% for people having private insurance. The problem is that when your in-network facility is at capacity, it will push you towards an out-of-network facility and the billing for the coronavirus treatment can exceed $10,000 in such cases. However, some insurance plans may cover the out-of-network facilities and some of these costs could get covered. Another report indicates that more than a quarter of American adults has put off their health care visits due to their finances. Coronavirus and bankruptcy What is the connection between bankruptcy and coronavirus? Although there is no direct relation the bankruptcy system will be tested as the US citizen are being assisted and are recovering from the fallout caused by a coronavirus. Dow Jones has dropped by 12% in the past few weeks and is likely to drop further. It may drop below 16000 before the year is out. If someone falls behind on the car or house payments due to the layoffs as a result of coronavirus chapter 13 will be a great tool to catch up with these payments. For instance, if a person misses out on 3 months of work due to either sickness or layoffs he or she can benefit from the provisions of chapter 13. In some states, a mortgage company can begin foreclosure after just the single mortgage payment. But in all cases, the mortgage companies will wait for at least three months. They will be forced to advertise the house according to the foreclosure section of the law in the county. This ad will have to appear... --- - Published: 2020-03-09 - Modified: 2020-03-09 - URL: https://www.jayweller.com/reasons-to-file-bankruptcy-and-prior-considerations/ To file bankruptcy is an extreme measure. However, this action used in the right way and at the right time can save a lot of money for you and preserve your peace of mind. It also helps you get back on your feet economically. But filing bankruptcy can also be time-consuming and expensive and have an impact on your credit score. It can also have far-reaching effects on other areas of your life. Buying a new car can become difficult while getting a new home or applying for a job also becomes troublesome. If you wait to file bankruptcy until you are broke, it might in reality work against you. Reasons to File Bankruptcy Here are some red flags that tell you that your current situation is unsurmountable and filing bankruptcy is the only way out. 1. All everyday expenses are being done by using a credit card: If you are consistently placing gas or groceries on your credit card as there is no cash available it is a red flag and you are on the wrong side of the debts. This is done by people who spend all their monthly income on debt payments. It makes your situation worse. 2. Your interest rates have already shot up because of missed payments: It is tough enough to dig yourself out from debt even at reasonable interest rates. However, if you miss a payment or two, most lenders will jack up the interest rates by 30% or more. When the interest rates are that high most of the payments every month are going towards interest and little towards the principal amount. 3. You are already working on a second or a third job: For most people making the extra income is sufficient to pay off their debts but this may not be the case at all times. If it helps you pay the monthly bills it is fine but many times the debt is already so big that this extra work is not sufficient to make a dent in it. To file bankruptcy will be the top consideration in this case. Considering the alternatives to avoid filing bankruptcy To file bankruptcy has long term and significant effects therefore, it is wise to consider all possible options in the beginning. Ask yourself these questions first. If the answer to any of the questions is yes, to file bankruptcy may not be the right choice as yet. 1. Can you somehow find the money to pay the bills yet? You can brainstorm ways of making some extra cash. One might consider taking up second or third jobs although it is not the greatest way of spending your weekends and evenings. However, even though it is for a short time this extra cash can get some recovery in the debt. 2. Have you followed a budget? A lot of people do not follow a budget and therefore are not aware of where their money is going. Without proper budgeting, by using programs such as... --- - Published: 2020-02-27 - Modified: 2020-02-27 - URL: https://www.jayweller.com/coronavirus-driver-of-bankruptcy/ Numerous publications are claiming that the economic effects of the Coronavirus may include a rise in personal and business Bankruptcy, primarily in Asian regions, such as China and Hong Kong. One article attests that personal Bankruptcy in Hong Kong increased 9% in 2019, for a total of 8151 Bankruptcy filings, and business Bankruptcy increased 14%, with a total of 419 Bankruptcy filings. According to this same publication, the Sars virus of 2003 produced an increase in that year of business Bankruptcy filings, but strangely, a decrease in personal Bankruptcy filings. However, as in the instance of the Sars event, there is similarly to evidence of a causal connection between the Coronavirus and an increase in the number of Bankruptcy filings. There is no denying that the governmental reactions to the Coronavirus could have a detrimental effect on various businesses, particularly in China. This writer surmises that the greatest effect on the local economies and business comes not from the Coronavirus itself, but from the governmental restrictions imposed on travel, including the possible quarantine of populations, and the widespread announcement in the media of the financial destruction that is anticipated by the Coronavirus. One article claims that according to an organization labeled the International Air Transport Association, the airlines in Asia could lose about $27. 9 billion dollars in revenue, and that demand for airline tickets in Asia have fallen 70%, due to the Coronavirus event. According to the same article, more than 60% of the commercial airplanes in China have been grounded. In addition, 70 international airlines have cancelled routes linking China. According to an article written by a Kenneth Rapoza, titled “Coronavirus Impact: Has China Really Returned To Work? ”, as of February 20, 2020, over 2,100 persons have died from the Coronavirus and nearly 76,000 cases have been documented. The article continues, claiming that business in various Chinese cities including Shanghai, are significantly stalled. Travel bans, roadblocks, and prohibitions on the re-opening of factories can have that effect. A significant portion of the population in the United States looks upon the Coronavirus narrative with incredulity. 2,100 deaths from the Coronavirus in the Province of Hubei? Hubei has a population alleged to be about 58 million humans. More people in Hubei, during the course of the Coronavirus event, have possibly died of less publicized manners, such as automobile accidents, or the malpractice of doctors. So, one of the many questions that you should ponder, is why then, is this Coronavirus so heavily publicized, or even promoted? Hubei, and in particular, its most sizable city, Hunan, is one of the epicenters of the Coronavirus saga. Hunan is allegedly beset with tremendous environmental issues, and particularly, air pollution. Studies have shown that Hunan has some of the worst conditions of air pollution of any city in the world. There was a large protest recently in Hunan, before the advent of the Coronavirus, against the very issue of air pollution. Could there be a more nefarious explanation for the heavy publication and... --- - Published: 2020-02-04 - Modified: 2020-02-04 - URL: https://www.jayweller.com/tampa-florida-bankruptcy-court/ TAMPA BANKRUPTCY COURT ADDRESS AND JURISDICTION The Bankruptcy Court in Tampa Florida serves the Middle District of Florida. The Bankruptcy Court is referred to as the Bankruptcy Court of the Middle District of Florida, Tampa Division. There are three other Divisions in the Middle District of Florida, including Orlando, Jacksonville, and Fort Myers. The Tampa Division includes the Counties of Pinellas, Hillsborough, Pasco, Hernando, Manatee, and Sarasota. The population encompassed by the Tampa Division is among the largest of any Division of any Bankruptcy Court in the United States. The Tampa Division is located at 801 N. Florida Avenue, Suite 555, Tampa, Florida 33602. The Bankruptcy Court is open Monday through Friday, from 8:30 to 4:00 PM, excluding Holidays. The Bankruptcy Court generally recognizes all Federal Holidays. The 341 Hearing or Creditor Meetings for the Tampa Bankruptcy Court are located at 501 E Polk Street, Tampa, Florida 33602. The name of the building housing the Creditor Meetings is the Timberlake Annex. It is located directly behind the Bankruptcy Court. TAMPA BANKRUPTCY COURT DIRECTIONS If you are traveling West of the Bankruptcy Court, please travel on I-275 to I-4. From I-4 take Exit 44 toward Downtown East. Merge unto N Tampa Street. Turn left unto E Polk Street. Turn left onto N Florida Avenue. The Bankruptcy Court is on the right. Traveling on I-4 East of the of the Bankruptcy Court, take 275 South, and then take Exit 45A toward Downtown East. Continue onto N Jefferson Street. Left on N Orange Avenue and continue onto Pierce Street, and right onto E Twiggs Street, right onto N Florida Avenue. The Bankruptcy Court is on the right. North of the Courthouse, take I-275 South and take Exit 45A toward Downtown East. Merge onto N Jefferson Street then left onto N Orange Avenue. Continue to Pierce Street then right onto E Twiggs Street. Right onto N. Florida Avenue. Bankruptcy Court is on Right. PARKING FOR BANKRUPTCY COURT TAMPA The Bankruptcy Court in Tampa does not have public parking. One must either use the metered parking or the various City of Tampa lots, or privately run parking lots. TAMPA BANKRUPTCY COURT PUBLIC RECORDS The Public Records information for the Bankruptcy Court in Tampa can either be acquired by going in person to the Bankruptcy Court or by using a service called PACER. All Bankruptcy records are public information. PACER fees range from 10 cents to up to $4. 00 depending on various types of use. BANKRUPTCY COURT JUDGES The Judges serving the Bankruptcy Court currently are Judges Briskman, Williamson, McEwen, Jennemann, Jackson, Funk, Delano, and Colton. TAMPA BANKRUPTCY COURT WEBSITE The website for the Bankruptcy Court in Tampa, Florida is www. flmb. uscourts. gov/locations/tampa The website includes information on Courtroom Services, Filing Fee, Holidays, Frequently Asked Questions, a Newsletter, and Holidays. --- - Published: 2019-12-27 - Modified: 2019-12-27 - URL: https://www.jayweller.com/debt-relief-center-tampa-bankruptcy/ We are considered a Debt Relief Center under the 2005 Bankruptcy Reform and Consumer Protection Act. In fact, all Attorneys providing Debt Relief Services are considered Debt Relief Centers, under this Act. There have been a numerous court cases that have challenged this nomenclature. An Attorney is an Attorney and not a Debt Relief Center. Jay Weller has been a Bankruptcy Attorney since 1993. Since 1993, Mr. Weller’s entire legal practice has been the representation of Debtors, and Debtors only, in Bankruptcy Proceedings, most prominently Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. The Attorneys and Paralegals at our law offices have extensive experience and knowledge in most matters relating to Bankruptcy. We also assist our Clients in matters other than Bankruptcy, including Lawsuit and Foreclosure Defense, Credit Repair, Debt Settlement, and Credit Counseling. However, our Clients mostly consist of persons seeking the protection of some form or Chapter, of Bankruptcy. We have our main office in Tampa, between Dale Mabry and Lois Avenue, on Kennedy Boulevard. 4100 West Kennedy Boulevard, Suite 208, in Tampa, Florida. The direct number for our Tampa Office is 813-229-3328. We also have offices in Clearwater, Port Richey, and Lakeland, Florida. Our Toll Free Number is 1-800-407-3328 (DEBT). You may also contact us through our website, via either a Contact Form or Live Chat. When you contact our office, you will generally speak personally with Mr. Weller. Mr. Weller will analyze your specific issues relating to Debt and explain the best methods and treatments for your specific issue, issues, or problems. There is no fee for your first Consultation with Mr. Weller or any of the other Bankruptcy Attorneys or Counselors at our offices. Whether one seeks help from a Debt Relief Center or a Bankruptcy Attorney, both are providing the same service. A Bankruptcy Attorney generally represents Debtors in Bankruptcy Proceedings. Some Bankruptcy Attorneys, however, represent Creditors. At Weller Legal Group, we only represent Debtors in Bankruptcy Proceedings. Mr. Weller and the Attorneys at our offices are licensed Attorneys in the State of Florida and admitted to practice in the Middle District of Florida. Mr. Weller is also admitted to the Southern District of Florida, and the Northern District of Florida, and may therefore represent Clients in every Bankruptcy Court in the State of Florida. Picture Credit: 123rf. com --- - Published: 2019-12-27 - Modified: 2019-12-27 - URL: https://www.jayweller.com/gibsonton-florida-bankruptcy-attorney/ Gibsonton Florida residents seeking a Bankruptcy Attorney need look no farther. Jay Weller has represented many Clients from Gibsonton Florida, Hillsborough County and the surrounding Counties, since he began the practice of Law in 1993. Mr. Weller has always represented Debtors and Debtors exclusively, in Bankruptcy Proceedings. At Weller Legal Group our whole practice is devoted to the representation of Debtors in Bankruptcy and Debt Related Matters. Our Bankruptcy Attorneys are equipped to represent Debtors in all areas relating to Bankruptcy including Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy and Chapter 7 Bankruptcy. We also represent individuals and small businesses in matters relating to Debt including our Programs in Foreclosure and Lawsuit Defense, Debt Settlement, Credit Repair and Credit Counseling. When you Contact our Law Office you will speak with an actual Bankruptcy Attorney. You will not be given a representative from an answering service or a salesperson. Mr. Weller will make an effort to speak with you personally upon your first contact with our Office. Our Gibsonton, Florida and greater Hillsborough County Clients generally will meet with our Attorneys and Paralegals at our Tampa Office. Our Tampa, Florida Office is located at 4100 West Kennedy Boulevard in Tampa, Florida. In addition to our Tampa Office we also have Offices in Port Richey, Lakeland and Clearwater. If you live or work in Gibsonton, or the greater Tampa Bay region, please Contact our Office today. The Number for the Tampa Office is 813-229-3328. Speak with an actual Bankruptcy Attorney. Our Toll Free Number is 1-800-407-3328 DEBT). Since 1993, Weller Legal Group has been considered by many to be the premier Bankruptcy Law Firm representing Debtors, in the greater Tampa Bay area. Picture Credit: 123rf. com --- - Published: 2019-12-27 - Modified: 2019-12-27 - URL: https://www.jayweller.com/hillsborough-county-bankruptcy-attorneys/ Our Bankruptcy Attorneys in our Hillsborough Office are available to meet with you and discuss various methods to alleviate your issues relating to Debt. Our Hillsborough Office is located in Tampa, at 4100 West Kennedy Boulevard, Suite 208, in Tampa, Florida. Since 1993, the Bankruptcy Attorneys at Weller Legal Group have represented thousands of Clients in Bankruptcy Proceedings, including Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Bankruptcy. We have not only represented many Individuals and small businesses in Bankruptcy Proceedings, but also in the many Programs we offer as an alternative to Bankruptcy. These Programs include Lawsuit and Foreclosure Defense, Credit Repair, Debt Settlement, and Credit Counseling. If you are in Debt, we likely have a solution. Chapter 7 Bankruptcy and Chapter 13 Bankruptcy are the most commonly filed Chapters of Bankruptcy in the United States. In Chapter 7 Bankruptcy, the Debtor is seeking to reduce or eliminate his or her Unsecured Debts. Unsecured Debts include Medical Bills, Credit Cards, Signature Loans, and Deficiencies on Repossessed Property or even Real Estate. Most of our Chapter 7 Bankruptcy clients are able to retain most or all of their important Assets or Property. If a Debtor has lived in Florida for more than two years, then the Debtor can employ the Bankruptcy Exemptions for the State of Florida in his or her Bankruptcy filing. Bankruptcy Exemptions are laws that define what a Debtor in Bankruptcy may retain and protect from not only his or her Creditors, but also the Chapter 7 Trustee. If a Debtor significantly exceeds in Assets what is provided by the Bankruptcy Exemptions, then the Debtor may find such Assets liquidated or sold in a Chapter 7 Bankruptcy. Such a Debtor may elect to file a Chapter 13 Bankruptcy wherein the Debtor may protect such Assets, and make a consolidated payment to his or her Creditors over a 36 to 60 month period. Bankruptcy may provide many benefits to a Debtor in distress. Upon the filing of a Bankruptcy, the Automatic Stay is generally activated, which stop Creditor actions, including Foreclosures, Lawsuits, Garnishments, and Repossessions. One of the traditionally important goals of Bankruptcy Proceedings is to give the Debtor a fresh start. If you live or work in Hillsborough County in Florida, and are considering Bankruptcy, then please contact us today. Mr. Weller will usually speak with you personally. If Mr. Weller is not available, then one of the Bankruptcy Attorneys in the Law Office will speak with you. The first consultation is without charge or fee. In Hillsborough County, you may contact us directly by calling 813-229-3329 (DEBT). Our Toll Free Number is 1-800-407-3328 (DEBT). You may also contact us through our website by submitting a Contact Form to our office, or through the Live Chat program available on the website. We also have offices in Clearwater, Port Richey, and Lakeland, Florida. Picture Credit: 123rf. com --- - Published: 2019-12-27 - Modified: 2019-12-27 - URL: https://www.jayweller.com/lutz-florida-bankruptcy-attorney/ If you live or work in Lutz, Florida and are seeking a Bankruptcy Attorney, then Weller Legal Group may be able to help. The Bankruptcy Attorneys and Paralegals at Weller Legal Group have knowledge and experience in most matters relating to Bankruptcy Law, including Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Bankruptcy. Chapter 7 Bankruptcy is commonly referred to as a Straight Bankruptcy or Straight Bankruptcy. In a Chapter 7 Bankruptcy, the Debtor is seeking to Discharge his or her Unsecured Debts. Discharge means one is forgiven of the Debt subject to the Discharge. Unsecured Debts include Medical Bills, Credit Cards, Deficiencies on Automobile Loans, Signature Loans, and Pay Day Loans. In a Chapter 7 Bankruptcy, most Debtors retain their most valuable Assets, including their Automobile, Personal Property, and their Home or Homestead. Whether one can retain such Assets, usually is dependent upon whether such Assets are within the Exemptions available to that Debtor. Florida has its own Bankruptcy Exemptions, as do other States. Some States allow the Debtor to choose between the State Bankruptcy Exemptions and the Federal Bankruptcy Exemptions. If the Debtor’s Assets or Property significantly exceeds the allowable Bankruptcy Exemptions, the Debtor may elect to protect those Assets from Liquidation by filing a Chapter 13 Bankruptcy. In a Chapter 13 Bankruptcy, the Debtor’s Assets are not subject to Liquidation or Sale. The Debtor may retain all of his or her Assets, provided the Debtor pays his Creditors an equivalent amount through a Chapter 13 Bankruptcy as such Creditors would receive through the Liquidation of such Assets in a Chapter 7 Bankruptcy. This is called the Liquidation Test. A Debtor may also file a Chapter 13 Bankruptcy if his or her income, and household income, significantly exceeds the income levels determined by the US Trustee Office, in its Publication of Median Income Figures. There are other reasons one may file a Chapter 13 Bankruptcy, as opposed to a Chapter 7 Bankruptcy. When you speak with Mr. Weller, he can advise you on the various Chapters of the Bankruptcy Code, and how they apply to you, and your individual circumstances. For persons in Lutz, Florida, and in the greater Tampa community, we are here to help you. If you are considering Bankruptcy, please Contact our office today. Mr. Weller will not charge a fee for the Initial Consultation and will patiently explain how Bankruptcy applies to your own circumstances, and whether Bankruptcy is beneficial. Are Tampa Office is convenient to our Clients in Lutz, Florida. We also have offices in Port Richey, Clearwater, and Lakeland. You may speak with Mr. Weller by calling either 813-229-3328 (DEBT), or our Toll Free Number at 1-800-407-3328 (DEBT). You may also contact us through our website, by submitting either a Contact Form or though the Live Chat available through the same website. Picture Credit: 123rf. com --- - Published: 2019-12-27 - Modified: 2019-12-27 - URL: https://www.jayweller.com/seffner-florida-bankruptcy-attorney/ For those in Seffner Florida our Bankruptcy Attorneys are available daily at our Tampa Office. Our Tampa Florida Office is located at 4100 West Kennedy Boulevard in Tampa, Florida. The Office is equidistant between the intersections of Dale Mabry Highway and Lois Avenue, on Kennedy Boulevard. The most prominent local landmark is Jimbo’s BBQ, which is across the street from the building wherein our Office is located. We also have Law Offices in Clearwater, Port Richey, and Lakeland, Florida. Weller Legal Group was founded in 1993, and has always been exclusively dedicated to the representation of Debtors, and Debtors only, in Bankruptcy Proceedings. The President and Owner of Weller Legal Group, Jay Weller, has represented tens of thousands of Clients in Bankruptcy Matters, including Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Bankruptcy can generally halt Foreclosures, Lawsuits, Repossessions, and Garnishments. Both Chapter 13 Bankruptcy and Chapter 7 Bankruptcy can offer tremendous benefits to the Debtor in the alleviation of Debt. If you live in Seffner, or work in Seffner, Florida, then please contact Mr. Weller today. In Tampa, our direct number is 813-229-3328 and our Toll Free Number is 1-800-407-3328. You may also contact us through our website, via either the Live Chat or Contact Form Submission offerings. Our Bankruptcy Attorneys provide legal representation to all the major Counties in the greater Tampa Bay region. In addition to our Tampa Office, we also have Law Offices in Clearwater, Port Richey, and Lakeland, Florida. Picture Credit: 123rf. com --- - Published: 2019-12-27 - Modified: 2019-12-27 - URL: https://www.jayweller.com/bankruptcy-attorney-temple-terrace-florida/ Seeking a Bankruptcy Attorney in Temple Terrace in Tampa, Florida. The Bankruptcy Attorneys and Paralegals at Weller Legal Group are here to help. We have been representing many of the residents in Temple Terrace, Florida, since our founding in 1993. If you are in Debt, we can Help! Weller Legal provides Attorney representation in all matters relating to Bankruptcy, including Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, the Mortgage Mediation Program and the Student Loan Mediation Program. We also have represented our Clients in more complex litigation, such as Adversary Proceedings. Chapter 13 Bankruptcy is commonly called a Debt Reorganization Plan or Wage Earner’s Plan. Chapter 13 Bankruptcy allows the Debtor to consolidate some or all, of his or her Debt into one monthly payment, that is generally reduced from the obligations existing prior to the Bankruptcy filing. Chapter 13 Bankruptcy is often used to stop Foreclosures, Repossessions, and Garnishments. Chapter 7 Bankruptcy will also often do these things, however, the effects on such legal actions can be very different for a Chapter 7 Debtor, as opposed to a Chapter 13 Debtor. Chapter 7 Bankruptcy is often called a Straight Bankruptcy or Straight Liquidation. The Chapter 7 Bankruptcy Debtor seeks to Discharge most or all, of his or her Unsecured Debts, such as Credit Cards, Medical Bills, Signature Loans, and other Debts that are not Secured by Collateral or Assets. In both forms of Bankruptcy, most of our Clients generally keep their Home and Personal Property, including their Automobile. Mr. Weller will happily analyze the circumstances that exist in your individual situation, and how they relate to any form of Bankruptcy filing. The Bankruptcy Attorneys and Paralegals are also knowledgeable and experienced in other our other Programs that are alternatives to Bankruptcy. These Programs include Foreclosure Defense, Lawsuit Defense, Credit Repair, Debt Settlements, and Loan and Mortgage Modifications. Since 1993, we have helped thousands of Clients escape the terrible burden of Debt. Call our office to speak with an actual Bankruptcy Attorney. Often, Mr. Weller with speak with you personally. For our Temple Terrace, Florida Clients, our office is conveniently located at 4100 W Kennedy Boulevard in Tampa, Florida. We are located on Kennedy Boulevard, between Dale Mabry and Lois Avenue. Call Mr. Weller in Tampa, at 813-229-3328 (DEBT). You may also contact us Toll Free at 1-800-407-3328 (DEBT). We also have offices in Clearwater, Lakeland, and Port Richey, Florida. You may also contact us through our website, by submitting a Contact Form, or through the Live Chat function of the website. Picture Credit: 123rf. com --- - Published: 2019-12-27 - Modified: 2019-12-27 - URL: https://www.jayweller.com/town-n-country-florida-bankruptcy-attorney/ Those looking for a reputable Bankruptcy Attorney in the area of Town N Country, in Tampa, Florida, need look no farther. Weller Legal Group has been representing Debtors, and only Debtors, in Bankruptcy Proceedings since its founding in 1993. Jay Weller and Weller Legal Group have represented many thousands of Clients in Bankruptcy matters, including Chapter 13 Bankruptcy and Chapter 7 Bankruptcy. Bankruptcy may provide some advantages to a Debtor including the stoppage of Foreclosures, Wage Garnishments, Lawsuits, and Repossessions. Chapter 13 Bankruptcy may stop a Foreclosure on your Home or Homestead and allow you to pay the arrearages or back payments, over the course of 36 to 60 months. Sometimes, the Chapter 13 Mortgage Mediation Program may enable to waiver of arrearages, reduction in monthly Mortgage payments, reduction in Interest Rates, and even a principal reduction of the Mortgage balance. Mr. Weller or one of the Bankruptcy Attorneys can explain the details of how Chapter 13 Bankruptcy and the Mortgage Mediation Program works. Chapter 7 Bankruptcy may be beneficial to Debtors seeking to reduce or eliminate such Debts as Credit Cards, Medical Bills, Pay Day Loans, and Signature Loans. These forms of Debt are properly referred to as Unsecured Debts. Sometimes, even Student Loans and Tax Debts may be eliminated or Discharged through Bankruptcy Proceedings. Whether such Debts are Discharged in Bankruptcy will depend upon the particular facts in your case. Our Attorneys and Paralegals are also experienced in the many Programs we offer that are alternatives to Bankruptcy. These Programs include Foreclosure Defense, Lawsuit Defense, Credit Repair, and Credit Counseling. If you are in Debt, we likely have a Solution. For those living in Town N Country, in Tampa, Florida, or any of the surrounding Cities and Counties, we have numerous Law Offices. Our Tampa Office is located at 4100 W Kennedy Boulevard, in Tampa, Florida. Our Tampa Office is located between the major intersections of Dale Mabry and Lois or Westshore. We also have Law Offices in Clearwater, Port Richey, and Lakeland, Florida. Mr. Weller can be contacted by calling our Office directly. In Tampa, Florida, our direct Number is 813-229-3328 (DEBT). You may also Call our Toll Free Number at 1-800-407-3328 (DEBT). The Initial Consultation with Mr. Weller is without charge or fee. You may also contact us through our website, through either the Live Chat feature or by submission of a Contact Form. Picture Credit: 123rf. com --- - Published: 2019-12-27 - Modified: 2019-12-27 - URL: https://www.jayweller.com/trinity-florida-bankruptcy-attorney/ Seeking Bankruptcy Attorney in Trinity, Florida. The Bankruptcy Attorneys and Paralegals of Weller Legal Group have been serving the community of Trinity, Florida in Bankruptcy proceedings, including Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. We are equipped to represent Debtors in any matter relating to Bankruptcy, including the filing and completion of any form of Bankruptcy. From more simple matters, such as the filing of a no-asset Chapter 7 Bankruptcy, to the more complex, such as Adversary Proceedings, Weller Legal Group has been serving Trinity and the greater Tampa area, since its founding in 1993. We also provide representation in matters other than Bankruptcy but related to Debt and Finances. These include Attorney representation in Debt Settlements, Credit Counseling, Credit Repair, Lawsuit Defense, and Foreclosure Defense. Chapter 13 Bankruptcy is often used to stop Foreclosures Real Estate, most prominently, the home or Homestead of the Debtor. In a Chapter 13 Bankruptcy, the Debtor may pay back the arrearages on the Homestead over a period of generally sixty (60) months. In a Chapter 13 Bankruptcy, the Debtor may also consolidate his or her Credit Cards, Medical Bills, and other Unsecured Debts into one monthly payment, that is generally significantly reduced from the pre-Bankruptcy obligations. In addition, the Debtor may arrange in some cases to significantly reduce automobile and other Secured Debt obligations. New opportunities to manage Debt are now available in a Chapter 13 Bankruptcy through the Mortgage Mediation Program and the Student Loan Program. The Mortgage Mediation Program has a longer history. In this Program, our office has been successful in obtaining Permanent Loan Modifications for our Clients, which have included reductions in the balances of Mortgages, the forgiveness of arrearages on Mortgages, and reductions in Interest and Monthly Payments. The Student Loan Program offered through Chapter 13 Bankruptcy is less proven in its benefits. Many of the benefits available through this program can be achieved through the Income Based Repayment Plans and other Programs offered by the Student Loan Providers. Weller Legal Group has offices throughout the greater Tampa Bay Region. We have offices in Pasco County, Pinellas County, Hillsborough and Polk County. If you are in Debt, or have interest in any of our Programs, please contact us today. You may call us Toll Free at 1-800-407-3328 (DEBT), at our Clearwater Office at 727-539-7701, in Port Richey at 727-375-9378, in Lakeland at 863-802-5505 and in Tampa at 813-229-3328 (DEBT). You may also contact us through our website, by submitting a Contact Form or through the Live Chat function of the website. Our Law Offices are open Monday through Friday from 8 AM to 7 PM. There is no charge for the Initial Consultation. Picture Credit: 123rf. com --- - Published: 2019-12-24 - Modified: 2019-12-24 - URL: https://www.jayweller.com/westchase-florida-bankruptcy-attorney/ If you live in the Westchase area, by Tampa, Florida, and are seeking a Bankruptcy Attorney then Jay Weller is the choice of many. Mr. Weller has been practicing Bankruptcy Law since 1993, and has represented many thousands of Clients in Bankruptcy Proceedings. Weller Legal Group represents Debtors, and only Debtors, in Bankruptcy matters. From the simple to the complex, our Bankruptcy Attorneys and Paralegals are equipped to provide assistance and guidance. Most of our Clients who file Bankruptcy will file either a Chapter 13 or Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is generally referred to as a Wage Earner’s Plan or a Debt Reorganization or Debt Consolidation. Chapter 13 Bankruptcy enables the Debtor to consolidate most or all of his or her Debts into one monthly payment. Usually the monthly payment is significantly reduced from the obligations incurred prior to the Bankruptcy filing. Chapter 13 Bankruptcy is often used to stop Foreclosures on the Home or Homestead of the Debtor. In Chapter 13, the Homeowner may pay any arrearages or missed payments on the Mortgage, over a period of thirty six (36) to sixty (60) months. A Homeowner in Chapter 13 Bankruptcy may also seek the modification of his or her mortgage. The Bankruptcy Court sponsors a Program called the Mortgage Mediation Program wherein the Debtor may seek a permanent Loan Modification. Our Office has successfully lowered mortgage payments, interest rate charges, and even principal reduction of the mortgage balance, through the Mortgage Mediation Program. Chapter 7 Bankruptcy is often called a Straight Bankruptcy or Straight Liquidation. In Chapter 7 Bankruptcy the Debtor seeks to Discharge or erase, his or her Unsecured Debts. An Unsecured Debt includes generally, credit cards, medical bills, signature loans, deficiencies on Secured Debts, and Pay Day or Cash Advance Loans. There are some limitations on the Debtor’s ability to Discharge such Debts, especially in Chapter 7 Bankruptcy. A Debtor with large cash advance charges, large purchases within a short period before the Bankruptcy filing, and other activity considered abusive under the Bankruptcy Laws may find such Debt not Discharged through the Bankruptcy Proceedings. Mr. Weller may advise when such issues are present. Bankruptcy may have many benefits to a Debtor in distress. Bankruptcy may stop Foreclosures, Repossessions, Garnishments, Lawsuits, and other actions by Creditors. Bankruptcy will generally stop harassing phone calls and collection letters by Creditors. If you live or work in Westchase, or in the greater Tampa Bay region, please call Mr. Weller today. His direct number in Tampa is 813-229-3328 (DEBT). Our Toll Free Number is 1-800-407-3328 (DEBT). Picture Credit: 123rf. com --- - Published: 2019-12-23 - Modified: 2019-12-23 - URL: https://www.jayweller.com/wesley-chapel-florida-bankruptcy-attorney/ Need a Bankruptcy Attorney in Wesley Chapel, Florida? Since 1993, Weller Legal Group has been representing many in the Wesley Chapel community and the greater Tampa Bay region, in all matters relating to Bankruptcy, including Chapter 7, Chapter 13, and Chapter 11 Bankruptcy. Chapter 7 Bankruptcy is usually employed by Debtors seeking to Discharge or eliminate Unsecured Debts, such as Credit Cards, Medical Bills, Deficiencies on Automobile Loans, Signature Loans, and other forms of Debts not secured by collateral. There are certain requirements in order to qualify for a Chapter 7 Bankruptcy, most prominently, income. Chapter 13 Bankruptcy is often used by Debtors seeking to stop Foreclosures on their Homestead or other Real Estate, to consolidate Debt while preserving Assets that are considered to have exceeded their allowable Exemptions, and to otherwise, consolidate and reduce their monthly obligations. The Bankruptcy Attorney and Paralegals at our office are experienced in most areas pertaining to Bankruptcy. We also have knowledge and experience in matters related to Debt, including Foreclosure Defense, Credit Repair, Debt Settlements, and Lawsuit Defense. If you are in Debt, we probably have a Program to help you. We have offices throughout the greater Tampa region, including offices in Hillsborough, Pasco, Pinellas and Polk Counties. Each are conveniently located. Our office hours are Monday through Friday, from 8 AM to 7 PM. If you are considering Bankruptcy, or confronted with Debt, and don’t know what solution to seek, please contact us today. You may call us Toll Free at 1-800-407-3328 (DEBT) or contact us directly through our local offices. Port Richey at 727-375-9378. Lakeland at 863-802-5505. Clearwater at 727-539-7701. Tampa at 813-229-3328 (DEBT). You may also contact us through the Contact portion of our website. There is no shame in filing Bankruptcy. Bankruptcy is a common device used by millions of people, seeking relief from Debt. Many thousands of our Clients have been able to use the protections of Bankruptcy to stop Foreclosures on their homes, Repossessions of their automobiles or other valuable property, stop Lawsuits and Garnishments, and greatly reduce or even eliminate, their Unsecured Debts. Our Bankruptcy Attorneys represent Debtors only. We do not represent Creditors. We are on your side. If you live in Wesley Chapel, or the surrounding communities, we have an office conveniently located to you. Do not hesitate to contact us today for a consultation with Mr. Weller or one of our Attorneys. If you are in Debt, we can help. --- - Published: 2019-12-20 - Modified: 2019-12-20 - URL: https://www.jayweller.com/zephyrhills-florida-bankruptcy-attorney/ Are you seeking a Bankruptcy Attorney in Zephyrhills, Florida? The Bankruptcy Attorneys and Paralegals at Weller Legal Group have experience in most matters relating to Bankruptcy. We represent Debtors in all Chapters of Bankruptcy including Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Chapter 12 Bankruptcy and Chapter 11 Bankruptcy, or Corporate Reorganization. We can provide representation from simple issues relating to Bankruptcy, to the more complex, such as Adversary Proceedings to determine whether certain Debts should receive Discharge through Bankruptcy. Since its founding in 1993, Weller Legal Group has represented many thousands of Clients in Bankruptcy Proceedings. Our Attorneys only represent Debtors. They do not represent Creditors. Our Attorneys primarily practice Bankruptcy Law. However, we do also provide representation in Programs that we refer to as alternatives to Bankruptcy, such as Debt Settlements, Credit Repair, Credit Counseling, Foreclosure Defense, and Lawsuit Defense. If you are in Debt, we probably have a Program to reduce or even eliminate, that Debt. It may not be Bankruptcy. When you contact our office, you will speak with a real Bankruptcy Attorney. Your issue is important to our office. We will not assign you to an answering service or some salesman. We have offices throughout the greater Tampa region. For our clients in Zephyrhills, we have an office in Tampa, on West Kennedy Boulevard; in Clearwater, Port Richey, and Lakeland, Florida. Our Toll Free Number is 1-800-407-3328 (DEBT), and in Tampa our direct number is 813-229-3328 (DEBT). We also have an office in Clearwater, which may be reached at 727-539-7701, and in Port Richey, Florida, at 727-375-9378. You may also take the option of contacting us through our website. You may send a Contact Form directly to our office, or converse with our office through the Live Chat that is available through the website. Sometimes, the problem of Debt may seem impossible to overcome, and a solution appears distant. However, there is usually a solution to any problem. At our office, we have a Program to address almost any issue relating to Debt. Contact our office today for a Consultation with Mr. Weller. Mr. Weller will not charge you any fee for the Initial Consultation. He will speak with you personally about your case. If Mr. Weller is not available, he will make sure that you have the benefit of speaking with an actual Attorney, versed in Bankruptcy and our other related Programs. Picture Credit: 123rf. com --- - Published: 2019-12-19 - Modified: 2019-12-19 - URL: https://www.jayweller.com/riverview-florida-bankruptcy-attorney/ If you live or work in Riverview Florida and seeking a Bankruptcy Attorney then Jay Weller may be best choice. Since 1993, Mr. Weller has represented Debtors and Debtors only, in Bankruptcy Proceedings. Weller Legal Group has represented many thousands of Clients in Bankruptcy, including Chapter 11 Bankruptcy, Chapter 13 Bankruptcy and Chapter 7 Bankruptcy. Most Bankruptcies are filed under either Chapter 7 or Chapter 13. Chapter 7 Bankruptcy seeks the elimination or Discharge of the Debtor or Debtors’ Unsecured Debts, such as Credit Cards, Medical Bills, Pay Day Loans, Deficiencies on Loans, including Automobile Loans and Home Loans, and Signature Loans. In some cases, a Debtor may Discharge Student Loans in a Chapter 7 Bankruptcy. Sometimes, the Debtor may also Discharge Tax Debts in a Chapter 7 Bankruptcy. The ability to Discharge such Debts in Bankruptcy depends upon numerous factors. For example, to Discharge a Student Loan in Bankruptcy, one must generally prove that the Student Loan presents an Undue Hardship. To establish Undue Hardship one must fulfill a number of requirements, including the inability to pay such Student Loans, not only in the present, but in the future. Certain Tax Debt may be Discharged in Bankruptcy. For the Tax to be Discharged, it must be of a certain variety, and often there are requirements that the Tax have a certain age. For income taxes, the Debt must be due at least three years, the Tax Return must have been filed at least two years ago, and there are no recent Assessments or Offers in Compromise. There are many other requirements for Tax Debt to be Discharged. Mr. Weller will happily analyze your particular situation, and advise. Chapter 13 Bankruptcy is also called a Debt Reorganization, a Debt Consolidation, or the Wage Earner’s Plan. In Chapter 13 Bankruptcy the Debtor seeks to consolidate most or all of his or her Debts into one monthly payment. The payments range from thirty six months to sixty months. Bankruptcy may stop Foreclosures, Lawsuits, Garnishments and Repossessions. If you are in Debt, please contact us today. For our Riverview, Florida clients our closest office is probably in Tampa. Our direct number in Tampa is 813-229-3329 (DEBT). We also have offices in Lakeland, Port Richey, and Clearwater, Florida. Our Toll Free Number is 1-800-407-3328 (DEBT). Also, our website allows you to submit a Contact Form to our office, or even converse with the office and Bankruptcy Attorneys via Live Chat. Picture Credit: 123rf. com --- - Published: 2019-12-18 - Modified: 2019-12-18 - URL: https://www.jayweller.com/lithia-florida-bankruptcy-attorney/ Lithia, Florida residents seeking a Bankruptcy Attorney need look no farther. Jay Weller and the Bankruptcy Attorneys at Weller Legal Group are dedicated to the representation of Debtors, and Debtors only, in Bankruptcy Proceedings. From its inception in 1993, Mr Weller has represented many thousands of Clients in all matters relating to Bankruptcy including Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Chapter 11 Bankruptcy and Chapter 12 Bankruptcy. The two most commonly filed Chapters of Bankruptcy are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a Debt Reorganization or Debt Consolidation Plan wherein the Debtor pays one monthly payment over the course of three to five years. Chapter 7 Bankruptcy is a form of Bankruptcy where the Debtor seeks to Discharge or eliminate all or most of his or her Unsecured Debts. Bankruptcy may have many advantages to a Debtor in distress. Bankruptcy may stop Lawsuits, Foreclosures, Repossessions, and Garnishments. Bankruptcy may stop almost all forms of Creditor action, including phone calls, and collection letters. From the simple matters relating to Bankruptcy to the more complex, the Attorneys at our Law Offices are here to help you. The First Consultation is without cost or charge. Mr. Weller or one of the Bankruptcy Attorneys will speak and meet with you personally. We will not assign your case to a telephone marketer or salesperson. If you are in Debt, we are here to offer a solution. Call Today. For our Lithia, Florida, Hillsborough County Clients our direct Number is 813-229-3328. You may also call us Toll Free at 1-800-407-3328 or Contact us through our website, through either the submission of the Contact Form or by Live Chat. Picture Credit: 123rf. com --- - Published: 2019-12-17 - Modified: 2019-12-17 - URL: https://www.jayweller.com/sun-city-center-florida-bankruptcy-attorney/ For those seeking a Bankruptcy Attorney in Sun City Center in Florida, the Attorneys at Weller Legal Group are here to help. Since 1993, Jay Weller and the Bankruptcy Attorneys at our Offices have represented tens of thousands of Clients in Bankruptcy Proceedings. Most of our Clients file either Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Chapter 7 Bankruptcy is designed to allow a Debtor to receive a Fresh Start through the Discharge of Unsecured Debts. Unsecured Debts are Debts that are not Secured by some form of Collateral. Credit Cards are generally, but not always, treated as Unsecured Debts, and the Creditor for such Credit Card is generally treated in Bankruptcy as an Unsecured Creditor. Some Unsecured Debts may not be Discharged in Chapter 7 Bankruptcy. A Debtor who has made large purchases on a Credit Card, particularly within a short time span, and close in time to the filing of the Chapter 7 Bankruptcy or Chapter 13 Bankruptcy may find the Creditor filing an Adversary Proceeding to contest the Discharge of the Unsecured Debt. If a Debt makes certain large purchases on a Credit Card within two months of filing the Bankruptcy, may find that the Unsecured Debt is Presumed to be unqualified to receive a Discharge in the Bankruptcy. The Bankruptcy Attorneys will gladly explain how the Chapter 7 Bankruptcy applies to your individual situation and circumstances. For our Sun City, Florida Clients, our closest office currently is our Tampa Office. Our Tampa, Florida Office is located at 4100 West Kennedy Boulevard, Suite 208 in Tampa, Florida. We also have Law Offices in Clearwater, Lakeland and Port Richey, Florida. The first Consultation with Mr. Weller or any of the Bankruptcy Attorneys is without cost or charge to you. You will speak and meet with an actual Bankruptcy Attorney. The Attorney will analyze your special circumstance, offering a solution or variety of solutions. Bankruptcy is not always the best option. Our Bankruptcy Attorneys are also trained and experienced in our many Programs that are alternatives to Bankruptcy. These Programs include Debt Settlement, Credit Repair, Credit Counseling, Foreclosure Defense, and Lawsuit Defense. If you live or work in Sun City Center, Hillsborough County, or any of the surrounding Counties, please contact Mr. Weller today. Our Direct Number in Tampa and Hillsborough County is 813-229-3328 (DEBT). Our Toll Free Number is 1-800-407-3328 (DEBT). You may also submit a Contact Form through our website, or speak with an Attorney or Paralegal in our Office through the Live Chat feature on the website. Picture Credit: tommyvideo --- - Published: 2019-12-16 - Modified: 2019-12-16 - URL: https://www.jayweller.com/seminole-heights-tampa-bankruptcy-attorney/ For those seeking a Bankruptcy Attorney in Seminole Heights in Tampa, our Tampa office is conveniently located. Since 1993, Jay Weller and Weller Legal Group PA, have been serving and representing many of the members of the Seminole Heights community in Bankruptcy matters, including Chapter 7 and Chapter 13 Bankruptcy. Our Tampa office is located at 4100 W Kennedy Boulevard. We are located on W Kennedy between the intersections of Dale Mabry and Lois Avenue, across from Jimbo’s BBQ. Chapter 7 Bankruptcy will generally stop Lawsuits and Garnishments, and permit the Debtor to eliminate or Discharge, most or all, of his or her Unsecured Debts. Unsecured Debts include Credit Cards, Medical Bills, Signature Loans, Pay Day Loans, and other Debt that is not secured by a form of Collateral. A Secured Debt will typically be described as an Automobile Loan, or a Mortgage on a Home. In such arrangement, the Bank or Finance Company alleges a Lien on the Property or Collateral, such as an Automobile or Homestead, or other Real Estate. Many Debtors in Chapter 7 Bankruptcy successfully Discharge Unsecured Debt, and retain their Property or Assets, including their Automobiles, Personal Property, and their Home or Homestead. Mr. Weller or one of the Bankruptcy Attorney will happily explain how Chapter 7 Bankruptcy will apply to your situation. Chapter 13 Bankruptcy is often employed by persons seeking to stop Foreclosures on their Real Property, namely, their Homestead, or Home. In a Chapter 13 Bankruptcy, the Homeowner may stop the Foreclosure by the Bank or Finance Company, and pay the arrearages or missed payments, over a sixty (60) month period. In a Chapter 13 Bankruptcy, the Debtor may also seek benefit from the Bankruptcy Court offered Program, called the Mortgage Mediation Program. In this Program, the Bank or Finance Company may concede to certain terms, such as reduced Interest Rates, Monthly Payments, and even a Principal Reduction, on a Mortgage. The Bank may also agree to permit the waiver of arrearages, or the placement of any arrearages, on the end of the Mortgage. The Debtor receives a permanent Loan Modification through this Program. Any permanent Loan Modification through this Program can only be achieved through the Consent of the Bank. The Bankruptcy Laws contain no known provision that allows our Bankruptcy Attorneys to force the Bank to agree to better terms through a Loan Modification, other than the general requirement that the Bank operate in Good Faith. In a Chapter 13 Bankruptcy, the Debtor may also stop the Repossession of an Automobile and other Personal Property, or Assets, and sometimes pay the Automobile Loan under the Chapter 13 Plan, with reduced monthly payments and principal. For the astute Debtor, Bankruptcy may have numerous benefits. The best plan for you is based upon your particular situation. If you are interested in Bankruptcy, or any of our other Programs relating to helping alleviate the issue of Debt, please Contact us Today. Our direct number in Tampa is 813-229-3328 (DEBT). You may also Contact... --- - Published: 2019-12-10 - Modified: 2019-12-10 - URL: https://www.jayweller.com/odessa-florida-bankruptcy-attorney/ For those seeking a Bankruptcy Attorney in Odessa, Florida, or the greater Tampa Bay region, Weller Legal Group is the choice for many. Since 1993, Jay Weller and the Bankruptcy Attorneys at our Law Offices have represented tens of thousands of Clients in Bankruptcy. The majority of Bankruptcy filings are under Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Chapter 7 Bankruptcy is a form of Bankruptcy where the Debtor seeks the Discharge of Unsecured Debts. Examples of Unsecured Debts include medical bills, credit cards, Pay Day Loans, signature loans, and deficiencies owed on repossessed Automobiles or other Assets that were formally Secured. Chapter 13 Bankruptcy is a form of Debt Consolidation or Debt Reorganization. In Chapter 13 Bankruptcy the Debtor makes one monthly payment to the Chapter 13 Trustee, over a period of thirty six (36) to sixty (60) months. Either Chapter 7 Bankruptcy or Chapter 13 Bankruptcy carry the benefit of the Automatic Stay. The Automatic Stay prevents most collection efforts by Creditors. Bankruptcy may stop Foreclosures, Lawsuits, Garnishments, and Repossessions. Our Attorneys and Paralegals are also experienced and knowledgeable in the practice of our remaining Programs which are alternatives to Bankruptcy. Such Programs include Foreclosure Defense, Lawsuit Defense, Credit Repair, and Credit Counseling. We have Law Offices around the greater Tampa Bay area, including Offices in Tampa, Clearwater, Port Richey, and Lakeland, Florida. In Tampa, our Direct Number is 813-229-3328 (DEBT). Our Toll Free Number is 1-800-407-3328 (DEBT). Our Direct Number in Clearwater is 727-539-7701, in Port Richey, 727-375-9378, and in Lakeland, 863-802-5505. Odessa, Florida and greater Tampa Bay Clients may speak directly with Mr. Weller. We do not assign your call to an answering service, or salesperson. If Mr. Weller is unavailable, one of our Bankruptcy Attorneys will speak with you personally. You may also contact us through our website by Live Chat or through the submission of the Contact Form. There is no fee for the Initial Consultation with our Office. Picture Credit: 123rf. com --- - Published: 2019-12-06 - Modified: 2019-12-06 - URL: https://www.jayweller.com/bankruptcy-attorney-dade-city-florida/ If you are seeking a Bankruptcy Attorney in Dade City, Florida then Jay Weller is the choice for many. Mr. Weller has been representing many of the good people of Dade City, and the surrounding communities, in Bankruptcy and related Programs, since 1993. The Bankruptcy Attorneys and Paralegals at Weller Legal Group are versed in most areas relating to Bankruptcy, including Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Bankruptcy. Our law office represents Debtors in the more simple matters in Bankruptcy, to the most complex issues relating to Bankruptcy. If you are in Debt, we likely have a Program that can help alleviate, or even eliminate that Debt. Our Attorneys are experienced in the many Programs that we offer that are alternatives to Bankruptcy. These Programs include Foreclosure Defense, Lawsuit Defense, Credit Repair, Credit Counseling, and Debt Settlements. We have also helped many Clients obtain Permanent Loan Modifications for their home or Homestead. The most commonly filed Chapters of Bankruptcy are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Chapter 7 Bankruptcy is generally referred to as a Straight Bankruptcy or Straight Liquidation. In Chapter 7 Bankruptcy the Debtor seeks to eliminate or Discharge his or her Unsecured Debts. Unsecured Debts include Credit Cards, Medical Bills, Signature Loans, and other Debts that are not Secured by any form of Collateral. Although Chapter 7 Bankruptcy is referred to as a Straight Liquidation, most of our Clients are able to retain their most important Assets. The Bankruptcy Exemptions determine what Assets the Debtor may retain or protect in both Chapter 7 and Chapter 13 Bankruptcy. If the Debtor’s Assets significantly those allowed through the Bankruptcy Exemptions, the Debtor may seek to protect his or her Assets through either filing a Chapter 7 Bankruptcy or by Converting the Chapter 7 Bankruptcy to a Chapter 13 Bankruptcy. This is generally, referred to as the Liquidation Test. The Debtor in a Chapter 13 Bankruptcy must pay to his or her Unsecured Creditors in a Chapter 13 Bankruptcy an equivalent amount to which the Unsecured Creditors would receive if the Debtor filed a Chapter 7 Bankruptcy, and his or her Assets that are not Exempt, would receive if such Assets were liquidated or sold by the Chapter 7 Trustee. Chapter 13 Bankruptcy has numerous benefits. A Debtor facing Foreclosure may pay the arrearages to the Bank over a sixty (60) month period, and retain their Homestead, or other Real Property. The Debtor may also significantly reduce automobile payments and other Secured Debts by paying the true value of the Collateral through a Chapter 13 Bankruptcy. The Chapter 13 Bankruptcy is also beneficial for certain Debtors that owe monies to the Internal Revenue Service, or other Taxes. The Debtor may pay such Taxes, often without penalties or interest through a Chapter 13 Bankruptcy Plan. Some Tax Debt may be wholly Discharged, meaning the Debtor pays nothing to the Taxing Entity, either through a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. If you live in Dade... --- - Published: 2019-12-05 - Modified: 2019-12-05 - URL: https://www.jayweller.com/bankruptcy-attorney-citrus-park-florida/ If you need a Bankruptcy Attorney in Citrus Park in Tampa, Florida then Jay Weller is the logical choice for many. Since 1993, Mr. Weller has practiced Bankruptcy Law in the State of Florida. Weller Legal Group, and its Attorneys have represented many thousands of Clients in Bankruptcy Proceedings. We only represent Debtors. We do not represent Creditors. For our Citrus Park Clients our Tampa Office is conveniently located. Our Tampa Office is located at 4100 W Kennedy Boulevard in Tampa, Florida. We are located between Dale Mabry and Lois Avenue on Kennedy Boulevard in Tampa. We have been serving many of the residents of Citrus Park, Florida for more than 25 years. The two most commonly filed Chapters of Bankruptcy are Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 Bankruptcy is a form of Bankruptcy wherein the Debtor seeks to Discharge all or most of his or her Unsecured Debts. Common examples of Unsecured Debts are Credit Cards, Medical Bills, Signature Loans, and Pay Day Loans. Most of our Clients are able to retain the majority of their Assets in a Chapter 7 Bankruptcy. If the Client’s Assets significantly exceed the allowable Exemptions, or the value of the Assets protected in the Chapter 7 Bankruptcy, then the Client or Debtor may file a Chapter 13 Bankruptcy. The Chapter 13 Bankruptcy involves a repayment to Creditors over a 36 to 60 month period. Generally, the monthly payment is significantly reduced from the Debtor’s obligations before the Bankruptcy filing. Bankruptcy can help alleviate many issues relating to Debt. Bankruptcy may stop Foreclosures, Garnishments, Lawsuits, Repossessions, and other Creditor action. If you live or work in Citrus Park, in Florida, and are considering Bankruptcy, our Bankruptcy Attorneys are here to help. In Tampa, you may contact us directly at 813-229-3328 (DEBT) or Toll Free at 1-800-407-3328 (DEBT). You may also contact us through our website. We also have offices in Clearwater, Lakeland, and Port Richey, Florida. Picture Credit: 123rf. com --- - Published: 2019-12-04 - Modified: 2019-12-04 - URL: https://www.jayweller.com/brandon-florida-bankruptcy-attorney/ For Brandon, Florida residents seeking a Bankruptcy Attorney, Jay Weller and Weller Legal Group is a popular choice. Since 1993, Our Attorneys have represented Debtors, and only Debtors, in Bankruptcy Proceedings. If you reside in Brandon, or Hillsborough County, the Bankruptcy Hearings are held in downtown Tampa. The Tampa Bankruptcy Court serves not only Hillsborough County, but many of the surrounding Counties including Polk, Pasco, Pinellas, Hernando, Manatee, and Sarasota. Our Tampa Office is approximately one to two miles from the Tampa Bankruptcy Court. Our Tampa Office is located at 4100 W Kennedy Boulevard, Suite 208, Tampa, Florida. We are located between the intersections of Lois and Dale Mabry Highway. Since 1993, Mr. Weller and the Bankruptcy Attorneys at Weller Legal Group have represented tens of thousands of Clients in Bankruptcy Proceedings, including Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, and Chapter 13 Bankruptcy. Bankruptcy may be a helpful tool for those consumed with overbearing Debt. Bankruptcy may eliminate of Discharge the Unsecured Debt of a Debtor. Some other Debts, such as Student Loans and even Taxes, may sometimes be Discharged or forgiven through Bankruptcy. Bankruptcy may stop Foreclosures, halt Lawsuits, Repossessions, Garnishments, and other creditor actions. In a Chapter 13 Bankruptcy, one may stop a Foreclosure on his or her Home or Homestead, and pay any arrearages over a sixty month period. The Mortgage Mediation Program in the Chapter 13 Bankruptcy may allow a Homeowner to receive a permanent Loan Modification, with lower monthly payments, lower interest charges, a principal reduction of the mortgage balance, and even forgiveness of arrearages. Chapter 13 Bankruptcy enables many Debtors to consolidate most or all of their Debts into one monthly payment over a term of 36 to 60 months. Many Debtors are able to significantly reduce Automobile Payments through Chapter 13 Bankruptcy. Chapter 7 Bankruptcy enables many Debtors to Discharge or eliminate many of their Unsecured Debts. Unsecured Debts are generally described as Credit Cards, Medical Bills, Deficiencies on Automobile Repossessions, Signature Loans and Pay Day Loans. If you live or work in Brandon, we likely have a Law Office that is conveniently located. We have Offices in Tampa, Lakeland, Clearwater, and Port Richey. If you are in Debt, please call or contact Mr. Weller today. Our direct number in Hillsborough County is 813-229-3328 (DEBT). Our Toll Free Number is 1-800-407-3328 (DEBT). You may also contact us through our website. The website allows one to submit what is called a Contact Form or converse with the Office through Live Chat. Mr. Weller or any of the Bankruptcy Attorneys will gladly explain how Bankruptcy and its various Chapters apply to your specific circumstances. If Bankruptcy is not your best option, we have other Programs to help people with Debt, including Foreclosure and Lawsuit Defense, Debt Settlement, Credit Repair, and Credit Counseling. Picture Credit: 123rf. com --- - Published: 2019-11-26 - Modified: 2024-12-19 - URL: https://www.jayweller.com/tampa-chapter-7-bankruptcy/ Considering filing for Chapter 7 Bankruptcy in the Tampa area? If yes, then you should feel confident in hiring Jay Weller to represent you with your case. Mr. Weller founded Weller Legal Group in 1993. He has been representing clients for over 25 years and has helped thousands of Clients with their Chapter 7 Bankruptcy cases. Jay Weller represents only Debtors. The Attorneys at Weller Legal Group are experienced and knowledgeable in Bankruptcy Law, including Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, and Chapter 13 Bankruptcy. It is estimated that over 500,000 households will file for bankruptcy each year in the United States. If you are struggling to make your credit card payments, medical bills, or high interest loans it may be in your best interest to file for bankruptcy. There is no shame in filing Bankruptcy. If you are one of the thousands of Americans who are considering filing for bankruptcy, please give us a call today. Even if your debts are overbearing and seem impossible to overcome, we can help. We have helped thousands of clients over the years with their bankruptcy cases and we can help you too. Jay Weller will help make the Bankruptcy process simple and easier for you and your family. A Chapter 7 Bankruptcy is also known as a Straight Bankruptcy or a Straight Liquidation. With this type of Bankruptcy, the Debtor is looking to discharge their unsecured debts. There are many factors in determining whether a debtor qualifies for Chapter 7 Bankruptcy protection, including income and current assets. If the Debtor’s income exceeds the Median Income in the State of Florida, he or she may not qualify for Chapter 7 Bankruptcy protection, but may be able to file for Chapter 13 Bankruptcy protection. If you are considering filing for Chapter 7 Bankruptcy protection in the state of Florida, you can contact us directly by calling 813-229-3328 (DEBT). Additionally, you can contact us through our website by submitting a contact from, or by utilizing our live chat option that is presented on our site for you to use. Something to keep in mind when you hire Weller Legal Group to represent you in your case, Mr. Weller will generally speak with you personally. If Mr. Weller is not available, we will make sure to assign a competent Bankruptcy Attorney in our office to speak with you directly. It is important that you speak with an attorney regarding your Chapter 7 Bankruptcy case and not a salesperson. Many offices may have you speak with a salesperson or answering service, and not a licensed bankruptcy attorney. It is important that you ask the person with whom you are speaking if they are a licensed Bankruptcy Attorney in the State of Florida. Filing for Chapter 7 Bankruptcy protection is a serious endeavor. Your case needs to be handled by professionals. We at Weller Legal Group are ready to help you with your Chapter 7 Bankruptcy case in Tampa. --- - Published: 2019-11-26 - Modified: 2024-12-19 - URL: https://www.jayweller.com/tampa-chapter-13-bankruptcy/ If you live in Tampa, and Chapter 13 Bankruptcy, is within your contemplation, the Bankruptcy Attorneys at Weller Legal Group may provide assistance. Since, 1993, Jay Weller and Weller Legal have been representing many in the Tampa community in all matters relating to Bankruptcy, including Chapter 13 Bankruptcy. In the United States, hundreds of thousands of persons and corporations, file for bankruptcy every year. The two most common forms of bankruptcy for Americans to file are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. Chapter 13 Bankruptcy may also be called a wage earner’s plan. Chapter 13 Bankruptcy proposes a repayment plan to help the debtor pay back their debts in monthly installments back to their creditors over the next 3 to 5 years. What Attorney should you choose to represent you in your Chapter 13 Bankruptcy case? Mr. Weller has been a Bankruptcy Attorney for over 25 years. He founded Weller Legal Group in 1993 and has represented thousands of Clients in Chapter 13 Bankruptcy. The Bankruptcy Attorneys at our law offices only represent Debtors. Jay Weller and the Attorneys at Weller Legal Group are knowledgeable and experienced in practicing Bankruptcy Law, including Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, and Chapter 13 Bankruptcy. Some benefits of filing a Chapter 13 Bankruptcy in Tampa is that you may be able to save your home from going into foreclosure. We know that your home is one of the most important assets in your life and if you want to save your home a Chapter 13 Bankruptcy may be a good option for you and your family. With a Chapter 13 Bankruptcy we may also be able to help you come up with a more manageable monthly payment plan. Sometimes debts may look impossible to escape from but with our help we will do the best we can do to come up with a solution while representing you throughout your Chapter 13 Bankruptcy case in the Tampa area. If you are considering filing for Chapter 13 Bankruptcy in the Tampa Area please don’t hesitate to give us a call today. You can contact our Tampa office directly by calling 813-229-3328 (DEBT). We also have offices in Clearwater, Port Richey, and Lakeland, Florida. Our Toll Free Number is 1-800-407-3328 (DEBT). For our Clearwater Office, you may contact us directly at 727-539-7701, in Port Richey, 727-375-9378, and in Lakeland, 863-802-5505. You may also contact Mr. Weller or any of the Bankruptcy Attorneys at our offices, by submitting a contact through our website. Whichever contact method you prefer, we will be happy to assist you with your Chapter 13 Bankruptcy case. When you contact Weller Legal Group, Mr. Weller will generally speak with you in person. If Mr. Weller is unavailable, we will make sure to assign a Bankruptcy Attorney from our office to speak with you. Filing for bankruptcy is a very big part of someone’s life and we want to make sure you feel confident and comfortable with the entire process.... --- - Published: 2019-11-25 - Modified: 2019-11-25 - URL: https://www.jayweller.com/tampa-bankruptcy-attorneys/ Are you looking for a bankruptcy attorney in the Tampa area? If you answered yes then look no further than Attorney Jay Weller. Mr. Weller founded Weller Legal Group in 1993. He and his team of attorneys have represented thousands upon thousands of clients in their bankruptcy cases. Jay Weller and his team are experienced and knowledgeable in Bankruptcy Law, including Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, and Chapter 13 Bankruptcy. In the United States, it is estimated that there will be over 500,000 people who will end up filing for bankruptcy. Filing for bankruptcy is nothing to be ashamed about and is much more common than you might think. The reasons persons file Bankruptcy including prominently; medical, credit cards and other loans. If you have any outstanding debts that may seem impossible to pay off, it may be in your best interests to look for a competent bankruptcy attorney in Tampa. If you are considering filing for Bankruptcy, and live or work in Tampa, you may contact our Tampa office directly by calling 813-229-3328 (DEBT). We also have offices in Port Richey, Lakeland, and Clearwater, Florida. Additionally, you may contact us through our website, which contains an option to submit a contact form or converse through our live chat offering, presented to you on the site. When you work with Weller Legal Group, you will generally speak with Mr. Weller personally. If Mr. Weller is unavailable, we will assign a Bankruptcy Attorney in our office, to speak with you about your Bankruptcy case. The important thing is that you speak with a licensed Bankruptcy Attorney when talking about your Bankruptcy case. Some offices will hire salespeople to talk with their clients instead of using actual Bankruptcy Attorneys. If you are considering filing for bankruptcy in the Tampa are please don’t hesitate to contact our office today for a free consultation. --- - Published: 2019-11-11 - Modified: 2019-11-11 - URL: https://www.jayweller.com/tampa-bankruptcy/ Considering Bankruptcy and live or work in Tampa? Weller Legal Group was founded by Jay Weller in 1993. For more than 25 years, Jay Weller has represented thousands of clients in Bankruptcy proceedings. Mr. Weller represents debtors only. The Bankruptcy Attorneys at Weller Legal are experienced and knowledgeable in all matters relating to Bankruptcy, including Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, and Chapter 13 Bankruptcy. Today, many Americans are facing overbearing burdens of credit card debts, medical bills, and high interest loans. If you are one of the thousands upon thousands of Americans who are considering filing for bankruptcy, do not hesitate to give us a call today. Sometimes, one’s debts may seem impossible to overcome, but there is generally a solution, and we can help make the bankruptcy process easier and simpler, for you and your family. A Chapter 13 Bankruptcy may allow a Debtor to stop a Foreclosure on his or her home or business, modify existing mortgages, significantly lower automobile loans payments, and other forms of secured debts. In a Chapter 13 Bankruptcy, most of one’s debts are consolidated into one monthly payment, over a 36 to 60 month term. A Chapter 7 Bankruptcy is also called a Straight Liquidation or Straight Bankruptcy. In a Chapter 7 Bankruptcy, the Debtor seeks to Discharge or eliminate, his or her unsecured debts. There are a numerous factors that determine whether a Debtor qualifies for Chapter 7 Bankruptcy, including the Debtor or Debtors’ Household Income. If the Household Income of the Debtor significantly exceeds the Median Income for the State of Florida (as determined by the US Trustee Office publications), the Debtor may not qualify for Chapter 7 Bankruptcy. The Debtor will likely, however, qualify for Chapter 13 Bankruptcy. If you are considering Bankruptcy, and live or work in Tampa, you may contact the Tampa office directly by calling 813-229-3328 (DEBT). You may also call us Toll Free at 1-800-407-3328 (DEBT). Additionally, you may contact us through our website, which contains an option to either submit a contact form or converse through the live chat offering, presented on the site. When you contact our office, Mr. Weller will generally speak with you personally. If Mr. Weller is unavailable, we will assign a Bankruptcy Attorney at the office, to speak with you. The point is that an actual Bankruptcy Attorney will speak with you upon your initial contact with our office. When you come to one of our offices, you will also meet with Mr. Weller or one of our Bankruptcy Attorneys. The filing of Bankruptcy is a serious endeavor, and your case should not be delegated to an answering service, or an individual with spurious knowledge of Bankruptcy Law. Picture Credit: 1820796 --- - Published: 2019-10-21 - Modified: 2019-10-21 - URL: https://www.jayweller.com/forever-21-bankruptcy/ Corporate bankruptcy seems to be all over the new in the United States today. Some major companies to file for bankruptcy recently are Diesel, Payless ShoeSource, and the once might Marie Calendar’s food restaurant chain. One company that also joins this list is the budget clothing behemoth store, Forever 21. This may come as a shock to you, especially if you are a millennial who used to love shopping at these stores. Sales are down and the traffic in malls are not what they used to be, especially with the push to online shopping. It is sad to see this once powerful company being forced into bankruptcy due to the harsh world of American business. Chapter 11 Bankruptcy In the United States the majority of companies filing for bankruptcy will file for Chapter 11 Bankruptcy. Chapter 11 Bankruptcy is also known as “reorganization” bankruptcy. This type of bankruptcy is designed mainly for corporations or partnerships that have to file for bankruptcy. Individuals can also seek Chapter 11 Bankruptcy protection if they own some sort of business. The Chapter 11 usually consists of the debtor making payments back to their creditors over time if they want to continue their business going into the future. The fees for filing for Chapter 11 Bankruptcy are a $1,167 case filing fee and a $550 miscellaneous administration fee. This does not include any fees that will be charged by your attorney, make sure to discuss with your attorney ahead of time to talk about what their fees will be to handle your bankruptcy case. Forever 21 Situation Forever 21 is one of the largest retail clothing stores in American. They currently have more than 800 stores and is family-owned. The company plans to shut down at least 100 of their current location because this is part of their restructuring plan according to a Bloomberg report. It is not crystal clear why they are currently in financial troubles but many would argue that they tried to grow too big too fast. This caused the company to over leverage itself and some stores did not perform up to par. The company believes they will become stronger after the bankruptcy. Benefits of Chapter 11 Bankruptcy Forever 21 may look like they are in trouble at this moment in time but they actually may be a much stronger company after the bankruptcy is complete. The first benefit that they may be able to get in the bankruptcy is the opportunity to close certain stores cheaply and easily by being able to escape costly leases. This is especially important for the company if they have some stores whose sales are very low and are just draining their money each month. The next benefit that we wanted to include was that during the Chapter 11 Bankruptcy process the business is allowed to continue its operations while paying off its debts. Many businesses benefit from this because they are able to restructure their debts while still being able to continue running their... --- - Published: 2019-10-14 - Modified: 2019-10-14 - URL: https://www.jayweller.com/medical-debts-are-forcing-bankruptcy/ The cost of medical services in America is at ridiculous levels. The current rates for medical care are extremely high and only seem to be increasing each and every year going into the future. It is estimated that over 500,000 Americans file for bankruptcy each year due to medical debts. Even President Obama mentioned in his 2009 State of the Union address, that a medical bankruptcy occurs approximately every 30 seconds in the United States. This is a staggering number and it seems that this situation is not getting better anytime soon. We at The Weller Legal Group want to discuss throughout this article how medical bills are connected with bankruptcy and how you may be able to take care of your current financial situation. The Hard Truth The majority of Americans in the United States are living paycheck to paycheck. This means that if they lose their job today, they could very well be homeless the next month. A recent study from a website called Bankrate, uncovered through research that only 40 percent of United States citizens have enough in their savings to cover a $1,000 emergency expense that they would have to pay. This statistic is quite unsettling and really sheds some light on how many Americans are really living. Many Americans do have health insurance that can help with the medical bills, but with some deductibles being as high as $5,000 or even higher in some cases, it can be almost impossible for the average American to come up with that kind of money. This is where a lot of Americans are starting to get into trouble and can be enslaved to a massive medical debt that they may have to come out of pocket for. Average Medical Spending It is estimated that in 2017 the average American spends about $10,739 per year on healthcare. If we look at the average salary in America of $56,516 before taxes, we can see that a large majority of American’s income goes towards healthcare costs. If we look at some research from Business Insider, it looks like the number 1 cause of people to file for personal bankruptcy in America is because of overwhelming medical debt, followed by unaffordable mortgages, and spending above one’s means which comes in third place. Another debt that was featured on the list was student loans but unfortunately student loans are not able to be discharged with a bankruptcy. Medical Debt Options If you have overwhelming medical debt then it may be time to look into filing for bankruptcy protection. It is important to discuss with your prospective attorney if bankruptcy is the right option for you and your family. The two most common forms of bankruptcy in America are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. With a Chapter 7 Bankruptcy you are trying to discharge as much of your unsecured debt as possible so that you can give yourself a fresh new beginning. Chapter 7 Bankruptcy may be a good option for you... --- - Published: 2019-10-07 - Modified: 2019-10-07 - URL: https://www.jayweller.com/treatment-of-garnishments-in-florida-in-and-outside-of-bankruptcy/ Garnishment of property or wages for unpaid debts can make a difficult financial situation even harder. In Florida, the rules and procedures of garnishment are controlled by Florida Statute Chapter 77, as well as the federal Consumer Credit Protection Act at 15 U. S. Code § 1673 Specific rules for garnishment apply to special kinds of debts like back taxes, student loans, and domestic support obligations (child support and alimony). In Florida, anyone who sues to recover a debt or obtains a judgement against another party has a right to a Writ of Garnishment. Depending on the kind of creditor or debt, a Writ of Garnishment can be issued either pre-judgement during a suit or post-judgement after a court order has been entered, but the effect is the same for both. This article seeks to explore the rules of garnishment in Florida, the kinds of things that may be exempt from garnishment, and the special effect bankruptcy proceedings have on garnishment actions. Garnishment Generally Garnishment is a process wherein a creditor who has sued a debtor for default on a debt obtains a writ to seize money or personal property from a third-party to satisfy the debt. The third-party, called the garnishee, is someone who holds money or property that would ordinarily be due to the debtor (i. e. the garnishee themselves has a “debt” they owe to the debtor in the form of wages or held property). Typically, the garnishee is either the debtor’s employer or their bank. Upon issuance of a Writ of Garnishment, the garnishee will instead turn over a specific portion of the money or property they hold to the creditor, who applies it towards the outstanding debt. A Writ will last until a judgement amount is satisfied or until a new court order is issued. The funds/property to be garnished must be located inside the state of Florida. Stansell v. Revolutionary Armed Forces of Colombia, 149 F. Supp. 3d 1337 (M. D. Fla. 2015). Florida has long recognized that the garnishment process requires “strict adherence” to the procedures and timelines within Chapter 77 of the Florida Statutes; if a creditor fails to follow these requirements to the letter, a Writ of Garnishment may be subject to dissolution solely for procedural defects. Zivitz v. Zivitz, 16 So. 3d 841, 847 (Fla. Dist. Ct. App. 2009); Feliciano v. Safe Hurricane Shutters, Inc. , 2013 WL 5676919 (S. D. Fla. 2013). Obtaining a Pre-Judgement Writ A pre-judgement writ is one obtained before judgement occurs in the underlying action regarding the debt. Florida Statute 77. 031 controls this kind of writ. To obtain a pre-judgement writ, the creditor must file a motion or affidavit stating that the debt in the underlying action is “just, due, and unpaid”, that garnishment is not being used as a tool to injure other parties, and that the creditor believes that the debtor will not have property sufficient to satisfy the creditor’s claim by the time the case is resolved and judgement issued. The creditor... --- - Published: 2019-09-24 - Modified: 2019-09-24 - URL: https://www.jayweller.com/new-student-loan-modification-program-in-central-florida-bankruptcy/ Student loan debt is a huge concern for many Floridians engaged in the bankruptcy process. Traditionally it has been extremely difficult for a debtor to discharge student loan debt in a bankruptcy case, barring an extensive showing of “undue hardship”. However, the United States Bankruptcy Court for the Middle District of Florida has recently created the Student Loan Modification Program which allows debtors and creditors to work together to develop modified repayment plans of student loan debt in the bankruptcy setting. The Student Loan Modification Program was established by Administrative Order FLMB-2019-1 and became effective on August 1st, 2019. This article explores the basics of the Student Loan Modification Program and the steps in the process for debtors and creditors. What is the Student Loan Modification Program? The Student Loan Modification Program seeks to bring debtors and creditors together via an online portal system to create Income-Driven Repayment Plans (“IDRs”) , which modify student loan obligations to create more sustainable payment plans for creditors and debtors in bankruptcy cases. The goal of the Student Loan Modification Program is to encourage debtors and creditors to communicate and attempt to reach mutually beneficial modifications of student loan obligations in bankruptcy. Who is eligible for the Student Loan Modification Program? The Student Loan Modification Program is available to individual or joint Chapter 7, 11, 12, or 13 debtors who have a pending bankruptcy case filed in the United States Bankruptcy Court for the Middle District of Florida and who have student loan obligations under governmental or private programs. The Student Loan Modification Program can be initiated by a debtor, creditor, or a Chapter 13 Trustee. Both the debtor and creditor, as well as their attorneys if they have them, must participate. How does the Student Loan Modification Program work, and what are the relevant timelines? The Student Loan Modification Program process can begin any time after a bankruptcy case has begun. The party seeking to begin the process, either the debtor, creditor, or a Chapter 13 Trustee, must file a “Notice of Participation in the Student Loan Modification Program”. For a debtor to initiate the process, they must have already paid the Bankruptcy Filing fee in full and complete the Document Preparation Software registration. The party seeing to begin the process must also serve a copy of the Student Loan Modification Program Administrative Order FLMB-2019-1 and file Proof of Service with the Court. Once these steps have been completed, the debtor and creditor may begin using the online portal to communicate, submit and review documents, and propose repayment plans that are based on the debtor’s income. The standard Student Loan Modification period during which this mediation process occurs is 180 days from the Notice of “Participation in the Student Loan Modification Program”. During this time, the automatic stay which ordinarily requires creditors to pause in any debt collection actions may be modified to facilitate the Program. Both debtors and creditors have special responsibilities and deadlines they must abide by during their participation in... --- - Published: 2019-09-16 - Modified: 2019-09-16 - URL: https://www.jayweller.com/constructive-fraud-in-bankruptcy/ There are two forms of fraud in regards to bankruptcy, intentional fraud and constructive fraud. It is important for you to understand these two forms of fraud so you are able to protect yourself in the future from making any of these mistakes that could potentially land you behind bars. In this article we are going to discuss constructive fraud and inform you on what you can do so you don’t make any of mistakes that could potentially leave you in hot water. Constructive Fraud What is the definition of constructive fraud you might ask? This type of fraud is when a person or entity gains an unfair advantage over another party by using deceitful or unfair methods. The thing that makes constructive fraud kind of ambiguous is that intent does not need to be shown. In the case of intentional fraud intent will have to be shown. This can make it confusing for a lot of people and it can be frustrating to not know for sure if you are committing constructive fraud or not. Examples Remaining silent when you have a duty to speak Making factual errors even if the party wasn’t aware of these errors Gaining of an unfair advantage by the party at the expense of the opposing party Consequences Party can be issued a fine if found guilty of constructive fraud Party could possibly be imprisoned if found guilty of constructive fraud Party could possibly be ordered to make repayments based on losses incurred by the opposing party Avoiding Constructive Fraud Constructive fraud is a type of fraud that you really have to be careful of. Many people who are committing constructive fraud are not even aware that they are committing fraud. It is very important that you get your facts correct before you are going to file for a bankruptcy. If you made $127,361 from your business last year it is important that you disclose the entire factual amount, not that you made about $100,000. Some of the best ways to avoid committing constructive fraud is being accurate with your financial information and not trying to get any type of unfair advantage over your opposing party. The main reason to file for bankruptcy is to make your life better after the bankruptcy process so it is important to be honest throughout the bankruptcy process. Make sure to discuss with your attorney for more ways you can protect yourself from accidentally committing constructive fraud. Final Thoughts We at The Weller Legal group hope that the information provided to you in this article helped to educate you on the topic of constructive fraud in bankruptcy and on some of the steps you can take to help better protect yourself from accidentally committing constructive fraud. We at The Weller Legal Group have over 20 years of experience in helping our clients with their bankruptcies and improving their credit scores. We have offices located all throughout Florida, including, Clearwater, Port Richey, and Lakeland. If you have any additional... --- - Published: 2019-09-03 - Modified: 2019-09-03 - URL: https://www.jayweller.com/bankruptcy-chapter-7/ Each year thousands of Americans will decide to file for Chapter 7 Bankruptcy. In 2017, it is estimated that over 500,000 people in the United States filed for a bankruptcy. Filing for bankruptcy is nothing to be ashamed about and can even be a great start to a fresh new beginning. Throughout this article, we at The Weller Legal Group are going to provide you with valuable information in regards to the Chapter 7 Bankruptcy topic. What is Chapter 7 Bankruptcy? Chapter 7 Bankruptcy is one of the most common forms of bankruptcies that individuals will file in the United States. Chapter 7 Bankruptcy is also known as straight bankruptcy or liquidation bankruptcy. This type of bankruptcy is when a debtor tries to settle a debt with their creditors. There will be a list of exempt assets and non-exempt assets that will be given to the court-appointed trustee. The non-exempt assets may be sold by the trustee to help pay off some of the debtor’s debts back to their creditors. After the Chapter 7 Bankruptcy process is finished, the debtor will not have to make any more payments to their creditors and any remaining debts that can be discharged will be discharged. Chapter 7 Bankruptcy can be a great option for someone who is currently not making a large salary at this moment in time. Must Know Bankruptcy Definitions Bankruptcy: the legal procedure in the United States for handling debts problems, the two most common types of bankruptcy filed for individuals are Chapter 7 Bankruptcy and Chapter 13 Bankruptcy protection Debtor: the person or entity who owes a debt Creditor: the person or entity who the debt is owed to Trustee: the court appointed trustee will be the legal person whom will be responsible for analyzing your assets and will be in charge of liquidating any of your nonexempt assets to pay back your creditors Bankruptcy attorney: a lawyer who specializes in the bankruptcy process, this legal professional will help you throughout the bankruptcy process Automatic stay: the order that automatically stops lawsuits, garnishments, foreclosures, and collection activity against a debtor after a bankruptcy petition is filed Bankruptcy petition: a document filed by the debtor that is submitted to the bankruptcy court, this document includes the debtor’s financials Equity: the value of the debtor’s interest in a given property, for example if a home is currently worth $200,000 but there is a $80,000 mortgage balance on the property, the property would then have $120,000 worth of equity Liquidation: selling of a debtor’s property in order to help pay back their creditors with the proceeds made from the sales When to File for Chapter 7 Bankruptcy? There are estimates that over 20 million Americans would benefit from filing for a bankruptcy. Are you one of these millions of Americans that would benefit from a bankruptcy? If each and every month you can only afford making the minimum payments on your credit cards it may be a good time to think about... --- - Published: 2019-08-19 - Modified: 2019-08-19 - URL: https://www.jayweller.com/bankruptcy-fraud-2/ Many Americans today are struggling with their finances. Each year it is estimated that there are over 500,000 families across the United States that will end up filing for a bankruptcy. This number may come as a shock to you but we want you to be aware of the facts that filing for a bankruptcy is nothing to be ashamed or scared about. Filing for bankruptcy is more common than most people may think. In this article we are going to discuss the topic of bankruptcy fraud, while including some examples so you don’t fall victim to making some of these mistakes that could end up leaving you with a hefty fine or even land you behind bars. Bankruptcy Fraud What is bankruptcy fraud you might ask? This type of fraud usually occurs when a filer decides that he or she will behave dishonestly when filing for a bankruptcy. The most common types of fraud associated with this topic is the concealment of assets. When you declare bankruptcy, you must disclose all of your personal information accurately and honestly. This information that you must disclose accurately includes listing all of your income, property, creditors, and prior transactions. Examples Concealment of assets is considered fraud Making knowingly false statements to the court is considered fraud Purchasing items on credit with the intent of filing for bankruptcy instead of paying for the items you purchased is considered fraud Bribing your court-appointed trustee is considered fraud Filing for multiple bankruptcy petitions in several states is considered fraud Consequences Bankruptcy fraud is no laughing matter and has major consequences if you are caught in the act. Anyone who decides to make false statements that they knowingly know is not accurate can be assessed a fine of up to $250,000 and possibly receive a prison sentence of up to 20 years. As we mentioned earlier, committing bankruptcy fraud is no laughing matter, make sure that you are thinking rationally before you decide you want to try and cheat the system. If you are caught it could have dire consequences for the rest of your life. Avoiding Bankruptcy Fraud The easiest way to avoid bankruptcy fraud is to be honest and transparent when disclosing all of your personal assets. It is important that you do not try and hide anything from the courts and your creditors because if you do you could have very bad consequences to deal with. Be honest and make sure to list everything so that you do not have any problems in the future with the courts and your creditors. Bankruptcy fraud is a serious offence and has serious consequences, so make sure you think twice if you have thoughts of committing bankruptcy fraud. Final Thoughts We at The Weller Legal group hope that the information provided to you in this article helped educate you on the topic of bankruptcy fraud and on some of the ways you can protect yourself from accidentally committing fraud. Bankruptcy fraud has serious consequences so it... --- - Published: 2019-08-12 - Modified: 2019-08-12 - URL: https://www.jayweller.com/tampa-bankruptcy-court/ Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. In this article we are going to talk about some facts about the Tampa Bankruptcy Court that will hopefully answer some of the most common questions in regards to the Tampa Bankruptcy Court that you may have. Location The Tampa Bankruptcy Court is currently located at 801 N Florida Ave, Suite #555, Tampa, FL 33602, USA. Directions to the property is take the I-275 North toward the I-4. You will then take EXIT 44 towards Downtown-East West. Make sure to keep right at the fork while following signs for Tampa St. Merge onto N Tampa St and then turn left onto E Polk St. Turn left onto N Florida Ave and the destination should be on your right. Hours The hours of operations in regards to the Tampa Bankruptcy Court are from 8:30 AM to 4:00 PM which is open Monday through Friday. The court is closed on Saturdays and Sundays. There are also a few holidays we wanted to mention below that the courts will be closed even on weekdays. Court Holidays January 1st – New Year’s Day January 21st – Martin Luther King’s Birthday February 18th – President’s Day May 27th – Memorial Day July 4th – Independence Day September 2nd – Labor Day October 14th – Columbus Day November 11th – Veterans Day November 28th – Thanksgiving Day December 25th – Christmas Day *Make sure to call your local courts ahead of time to verify if they will be closed or not on these holidays mentioned above Important Phone Numbers Recorded Court Information: 813-301-5162 Voice Case Information: 866-222-8029 #91 Current Judges Chief Judge Michael G. Williamson Judge Catherine Peek Mcewen Judge Caryl E. Delano Judge Roberta A. Colton Dress Code This is an important part of this article that you should not ignore. When you show up to your court hearing you should dress to impress. It is recommended that men should wear dress shoes with socks, long dress pants with a belt, collared shirt that is tucked in, preferably with a tie, and can be accompanied with or without a blazer jacket. It is recommended that women wear shoes, a dress or skirt, preferably that is no more than two inches above the knee, or can also wear long pants or a blouse, accompanied by a sweater or casual dress shirt. Some things that you should not wear to the Tampa Bankruptcy Court is the following: shorts, hats, see-through top, flip flops, ripped shirts, ripped jeans, baggy pants, clothing with emblems or words that promote illegal activities, and clothing that promotes violence just to name a few. Parking The Tampa Bankruptcy Court does not have any public parking facility for people to park their cars. There is metered street parking that is available and also some privately-owned lots where you can pay... --- - Published: 2019-08-05 - Modified: 2019-08-05 - URL: https://www.jayweller.com/dischargeable-vs-non-dischargeable-debts/ Many Americans today will have to file for a bankruptcy at some point in their lives. The two most common types of bankruptcies for individuals to file in the United States is Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. In this article we are going to discuss the key differences between dischargeable debts and non-dischargeable debts, while including some examples of each type. Hopefully after reading this article you will get a better understanding of the differences between the two types of debts that are associated with bankruptcies in America. Dischargeable Debts Dischargeable debts are the type of debts that you are able to get rid of with a bankruptcy. Not all debts are dischargeable debts so it is important for you to know the differences before you decide to file for a bankruptcy. Some of the debts that you are able to discharge in both a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy are: credit cards, medical bills, personal loans, promissory notes, and certain lawsuit judgements that may be against you. It is important to know that there are some debts that you are able to have discharged in a Chapter 13 Bankruptcy, but are not able to discharge in a Chapter 7 Bankruptcy. Some of these debts that can be discharged in a Chapter 13 Bankruptcy but cannot in a Chapter 7 Bankruptcy include: marital debts arising out of a divorce, court fees, home ownership association fees, and debts for loans from a retirement plan. It is important that you know what types of debts that you currently have to help you decide which type of bankruptcy is best for you and your current situation. Non-Dischargeable Debts Now that you know about dischargeable debts let’s discuss some non-dischargeable debts. Non-dischargeable debts are the types of debts that you cannot get rid of even if you decide to go through with the bankruptcy process. It is unfortunate but not all debts are able to be discharged with a bankruptcy. Some of the debts that cannot be discharged with a bankruptcy include: child support, alimony payments, certain types of tax debts, and fines or restitution you may owe from breaking the law. It is important that you know the types of non-dischargeable debts ahead of time so you do not waste your time going through the bankruptcy process especially if you are not able to discharge the types of debts that you want to get rid of. Make sure to discuss with your attorney ahead of time to verify if your current debts are able to be discharged or not and ask them what their opinion is on whether you should file for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Final Thoughts We at The Weller Legal group hope that the information provided to you in this article helped you understand the main differences between dischargeable and non-dischargeable debts. The Weller Legal Group has over 20 years of experience in helping our clients with their bankruptcies and improving their... --- - Published: 2019-07-29 - Modified: 2019-07-29 - URL: https://www.jayweller.com/the-average-millionaire-filed-bankruptcy-3-5-times/ Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. A common statement in the bankruptcy world is that, “the average millionaire will file for bankruptcy 3. 5 times in their lifetime. ” In this article, we are going to discuss this topic of how many times millionaires will file for bankruptcy in America? Millionaire Facts In this section we are going to briefly talk about some facts about millionaires in America according to factretriever. com. The first fact that we saw on this website is that 7% of all the households in America are considered millionaires. This may seem like a lot of millionaires in America and becoming a millionaire is not that far out of reach for the majority of Americans today. The second fact we wanted to share from this website is that the majority of millionaires are self-made. About 80% of millionaires made their money on their own while about 20% of millionaires inherited their millions of dollars. The third fact is that the average millionaire will file for bankruptcy an average of 3. 5 times in their lifetimes. This is an interesting fact because the majority of people think that the rich and famous would never file for a bankruptcy. In the case of many millionaires they actually strategically file for bankruptcy and they usually come out ahead when everything is said and done. Why? The last fact in the section above may come as a shock to you. It might leave you scratching your head as to why someone who is worth millions of dollars would want to file for a bankruptcy. For the majority of these millionaires who file for bankruptcy it comes down to the restructuring of their debt. For those who file Chapter 7 Bankruptcy they may be able to get the majority of their unsecured debt discharged while selling off a portion of their assets. With Chapter 13 Bankruptcy, millionaires are also able to discharge some unsecured debts while being able to keep the majority of their assets. With Chapter 13 Bankruptcy, they will be required to make monthly payments to their creditors at hopefully a more manageable monthly payment and possibly even a lower interest rate. The majority of millionaires in America made their millions of dollars by starting their own business. There is also Chapter 11 Bankruptcy that is aimed towards helping debtors who own a business. Bankruptcy to Increase Credit? It is a common misconception that filing for a bankruptcy will decrease your credit score. In reality, for many of these millionaires that decide to file for a bankruptcy their credit score may actually start to improve dramatically after the bankruptcy process is finished. Making missed payments, repossessions, and lawsuits can be much more damaging to one’s credit score than filing for a bankruptcy. Many people who are facing financial hardships, even millionaires,... --- - Published: 2019-07-15 - Modified: 2019-07-15 - URL: https://www.jayweller.com/top-10-celebrities-who-filed-bankruptcy/ Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. In this article we are going to talk about 10 celebrities who have filed for bankruptcy in their lifetimes. Mike Tyson Starting off the list we have the former world heavyweight champion Mike “The Baddest Man on the Planet” Tyson. Over his fighting career he has had a total of 58 fights, 50 wins, and 44 of those wins were by knock out. Mike Tyson was once one of the most feared fighters on the planet. Over his fighting career some sources say that he made over $400 million within 20 years, which many would consider as being a relatively short amount of time to make that kind of money. That did not stop Mike Tyson from spending money frivolously on giant mansions, many cars, and even a pet tiger. This insane spending left Mike Tyson in debt with back taxes and a divorce settlement to add to his headaches. In 2003 his debt load was getting completely out of control and Tyson decided to file for bankruptcy that year. Today, supposedly he is doing a lot better financially and even told CNN that he is out of the hole. Hopefully he will continue to do well in the future and keep his debt under control. Tyson has movie appearances, his own show, and even book deals that will help him with generating income going into the future. 50 Cent The next celebrity we are going to mention is the rapper 50 Cent. He has had many hit songs and albums throughout his lifetime. Some of his famous songs that you might know of is, “In Da Club” and “Candy Shop. ” These are just a couple songs that he has made and has many more hits besides these two songs. He was also a victim of a shooting in year 2000 when he was shot outside of his grandmother’s home in Queens, New York. He has made over $100 million in his lifetime so far, but bad investments and a lawsuit seem to have made his life a lot more difficult. In 2016, he emerged from the Chapter 11 Bankruptcy process where he had agreed to repay back more than $23 million in debt over the course of the next 5 years. Hopefully this rapper will be able to get his finances under control in the years to come. Marvin Gaye For those of you who don’t know about Marvin Gaye, he was one of the most successful Motown legends. Gaye has had many hit records and even some Grammy nominations. The start of his financial troubles is when he did not pay his alimony payments to his ex-wife. It was thought that the figure he owed to his ex-wife was around $600,000 in unpaid alimony payments. This ultimately led to the Motown legend having... --- - Published: 2019-07-01 - Modified: 2019-07-01 - URL: https://www.jayweller.com/qualifying-for-a-mortgage-after-bankruptcy/ Buying a home one day is part of the American dream for a lot of people living in the United States. Many people who are thinking about going through the bankruptcy process are concerned if it will affect their chances of getting a home loan in the future. Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. In this article we are going to discuss the subject of qualifying for a mortgage after a bankruptcy. If that’s something that interests you make sure to read through this entire article. Bankruptcy On Your Credit Report How long will my bankruptcy remain on my credit report? This is a common question that gets asked a lot and is important for you to know. If you are planning to go through with a Chapter 13 Bankruptcy it will remain on your credit report for 7 years. With that being said, if you are planning to file for a Chapter 7 Bankruptcy, this will remain on your credit report for 10 years. Make sure to discuss with your attorney ahead of time which type of bankruptcy would be best suited for your case. How Long Before I Can Apply? After you are finished with the bankruptcy process you will not be able to apply for a mortgage loan right away. If you wanted to apply for a conventional loan you will have to wait at least four years after a discharge of a Chapter 7 Bankruptcy in order to be able to apply for a conventional home loan. If you went through with a Chapter 13 Bankruptcy you will have to wait at least two years before you are able to apply. Also, if you wanted to apply for an FHA loan you will have to wait at least two years if you filed a Chapter 7 Bankruptcy before you are able to apply. If you filed a Chapter 13 Bankruptcy you can apply for an FHA home loan as long as you have made at least 12 months of consecutive bankruptcy payments on time. Something to keep in mind is that you will need to get the approval of the bankruptcy court in order to be able to apply for this home loan. Improving Your Credit It may feel like the end of your home ownership dreams after a bankruptcy but that is not always the case. After you are finished with the bankruptcy process you may even start receiving offers from credit card companies. It is important that if you take any of these offers you are careful with them so you don’t get in trouble with debt again. These credit card offers may have very high interest rates but if you are able to use them and pay them off before you get charged any interest this may help with rebuilding your credit. Make sure that... --- - Published: 2019-06-19 - Modified: 2019-06-19 - URL: https://www.jayweller.com/10-questions-to-ask-my-bankruptcy-attorney/ Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. In this article we are going to discuss 10 very important questions that you should ask your bankruptcy attorney before you decide to hire them to represent you. What Is Your Experience? There are many bankruptcy attorneys out there that are licensed today, but not all are created equal. It is important that you ask your prospective bankruptcy attorney how many years of experience they have and how many cases they have represented. You may even want to ask how successful they have been with their past bankruptcy cases. We at The Weller Legal Group have over 25 years of experience helping our clients with their bankruptcy cases. With so many years of experience in the bankruptcy industry you should feel confident that we are competent and are willing to support you every step of the way. How Much Are Your Fees? It is important that you ask your prospective bankruptcy attorney this question. Find out what your fees will be and what are included with those fees. Also make sure to ask if there are any other fees that could come up during the bankruptcy. If you are not able to come up with the fees right away ask your prospective bankruptcy attorney if you can set up a payment plan with them. There should be a fee agreement given to you that breaks down all the different items that you will be charged for. Chapter 7 Or Chapter 13? It is important to ask your prospective bankruptcy attorney which type of bankruptcy will be best suited for you and your situation. Chapter 13 Bankruptcy will usually allow you to keep most of your property but you will have to agree to a payment plan to pay off your debts. This type of bankruptcy is probably better if you are someone who has a high income. The Chapter 7 Bankruptcy will usually wipe out most of your debts at the end of the bankruptcy process but you may have to sell off some of your assets before you are released from your debts. What Debts Cannot Be Released? While most bankruptcies can help get rid of a lot of people’s debt, unfortunately there are some debts that cannot be wiped out. The first one is student loans, this is unfortunate but it is the truth. The second debt that cannot be released is back taxes. Benjamin Franklin even said himself that there were only two things certain in life and that was death and taxes. Even in a case of a bankruptcy you will not be able to be released completely from back taxes. How Will Bankruptcy Benefit Me? This is an important question that you should ask your prospective bankruptcy attorney. Not everyone may benefit from going through with a bankruptcy. With that being... --- - Published: 2019-06-11 - Modified: 2019-06-11 - URL: https://www.jayweller.com/10-benefits-of-bankruptcy/ Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. In this article we are going to discuss 10 benefits of going through the bankruptcy process. No More Calls When you file for a bankruptcy this will trigger what is known as an automatic stay. An automatic stay will prevent creditors from taking the necessary actions to collect their debts. This will also prevent creditors from calling you, suing you, and sending you those nasty letters. Being able to live your life without the harassment of your creditors could be a good reason to begin the bankruptcy process. Credit May Increase Something that many people do not realize is that filing for bankruptcy may actually improve your credit score. The reason that this is a possibility, is that during the bankruptcy process many debts can be discharged, which may possibly help increase your credit score. Something to keep in mind is that filing for a bankruptcy will remain on your record for about 7-10 years, but that doesn’t necessarily mean that your credit score will decrease after the bankruptcy. There are no guarantees, but if you are starting out with a low credit score, you may actually be surprised that your credit score may be higher after the bankruptcy process is finished. Life Without Credit Cards For a period of time after your bankruptcy is finished you may not have any active credit cards. This should not be looked at as a negative, but instead as a positive. Not having credit cards will help you keep track of your expenses and live within your means. When people have credit cards it is very easy to overspend because the money almost doesn’t even seem real. This overspending combined with ridiculously high interest rates is a recipe for disaster. Living life without credit cards may be one of the best things for you and your finances going into the future. Learn New Financial Habits Clients who are declaring personal bankruptcy are required to take credit counseling. During the credit counseling process, you will be taught on steps that you can take to help rebuild your credit and also learn some new financial habits. This education can really help you and may even save you from getting into overbearing debt in the future. Clears Debts or Creates Repayment Plans The majority of people who are filing for bankruptcy mainly file for two reasons, clearing debts or creating a new repayment plan. With both Chapter 7 and Chapter 13 Bankruptcies you are able to discharge certain debts. With Chapter 7 Bankruptcy the court will likely sell off some of your assets in order to pay off your debts but after the bankruptcy process is finished you will have a fresh new start. The Chapter 13 Bankruptcy process is a little different, you can also discharge certain debts but you may... --- - Published: 2019-05-20 - Modified: 2019-05-20 - URL: https://www.jayweller.com/bankruptcy-cost/ What does a bankruptcy cost? This is a common question asked by not only persons who contact my office but is a commonly search term by those investigating the possibility of filing bankruptcy. Many bankruptcy attorneys understandably, will not discuss the cost of a bankruptcy before they have met with the prospective client, and fully analyzed their case. Any given bankruptcy is either slightly or dramatically different from any other given bankruptcy. Therefore, it may be difficult and inappropriate to quote a cost for bankruptcy without a full understanding of the issues and problems inherent in a particular bankruptcy filing. However, I will provide a general disclosure of the costs associated with the filing and prosecution of a bankruptcy. In a Chapter 7 bankruptcy, most bankruptcy attorneys in the Middle District of Florida, Tampa Division, will charge anywhere from $800 to $2,000 in attorney fees. This is the total attorney fees that are usually charged for standard representation in a Chapter 7 bankruptcy. If additional issues arise in the Chapter 7 that require additional effort on the part of the bankruptcy attorney, the costs can increase. For example, if a debtor in a Chapter 7 is sued by a creditor pursuant to an adversary proceeding, the attorney can either settle the adversary proceeding with the creditor or defend the debtor against the creditor in the adversary proceeding. If the attorney settles with the creditor, the cost in bankruptcy fees is usually minimal. However, if the attorney defends the adversary proceeding, the attorney may charge anywhere from $2,000 to $5,000 depending upon the complexity and experience of the bankruptcy attorney. In a Chapter 13 bankruptcy, the court will generally award, as of May, 2017, a total of $4,250 in attorney fees for representation. Most bankruptcy attorneys will charge a fee before the filing of the bankruptcy of anywhere from $1,000 to $2,000. Upon the confirmation of the Chapter 13 plan, the bankruptcy judge will generally award the difference to the bankruptcy attorney. Such costs are paid to the bankruptcy attorney through the debtor’s payments pursuant to the Chapter 13 plan. In addition, the filing fee in a Chapter 7 bankruptcy is $335 and for a Chapter 13, the filing fee is $310 (as of May, 2017). This is a general overview of the costs associated with bankruptcy. Although I have been practicing bankruptcy law since 1993 and am considered one of the more knowledgeable and experienced bankruptcy attorneys within my District, my costs tend to be lower than most other bankruptcy attorneys. Many of my clients come from referrals from my clients family and friends, and from other attorneys. In addition, because I only practice bankruptcy law, I am able to enjoy certain cost savings that I pass to my clients. If you are considering whether to file bankruptcy, please contact my office directly at 1-800-407-3328 DEBT) or through my website at www. jayweller. com. I will speak with you personally to discuss your case, and will discuss any costs associated... --- - Published: 2019-04-29 - Modified: 2019-04-29 - URL: https://www.jayweller.com/expert-in-bankruptcy/ An expert in bankruptcy can be found in Weller Legal Group. Mr. Weller is considered by many in the legal and public realms to be the premier bankruptcy attorney in the greater Tampa region. Mr. Weller has been practicing bankruptcy law since his admission to the Florida Bar in 1993. Mr. Weller only represents debtors in bankruptcy proceedings, and primarily focuses his representation in matters relating to Chapter 7 and Chapter 13 bankruptcy. Although there are few attorneys in the State of Florida with the knowledge and expertise of Mr. Weller, he does not label himself an “expert” because he never sought board certification in his specialty. Such certification does not give grant an attorney a higher level of understanding or ability in his or her chosen specialty. Mr. Weller has filed tens of thousands of bankruptcies since he began practice in 1993. Weller Legal Group has saved thousands of homes from foreclosure, stopped thousands of lawsuits and garnishments. Weller Legal has helped restore the finances of thousands of persons within our community. Mr. Weller and the bankruptcy attorneys and paralegals at Weller Legal Group are dedicated, knowledgeable and experienced in the representation and assistance of our clients in most matters relating to bankruptcy law. Mr. Weller is often the attorney that other attorneys come to when they have questions or controversies relating to the representation of their clients in bankruptcy law matters. Mr. Weller has written countless articles and publications relating to almost every facet of bankruptcy law, particularly as it relates to Chapter 7 and Chapter 13 bankruptcy. If you are seeking an expert in bankruptcy, please contact Mr. Weller today through our website, or by calling our office at 1-800-407-3328 (DEBT). If you are in debt, we are here to help you. Picture Credit: 123rf. com --- - Published: 2019-04-15 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-fraud-investigation-of-bankruptcy-fraud/ PART II According to the US Department of Justice, 10% of Bankruptcy filings contain some element of Bankruptcy Fraud. The US Trustee Office is one of the primary organs of the government that is responsible for the investigation of Bankruptcy Fraud. Most, if not all, of the Bankruptcy Courts in the United States will have attached, a local office of the US Trustee. The President of the United States is ostensibly the highest officer given function of administering the federal laws of the United States. The US Department of Justice is second in the hierarchy, the US Trustee Office is third, and the Bankruptcy Trustees are the fourth level of the hierarchy, as applied in the Bankruptcy Court. These participants are part of what is referred to as the Executive Branch of the Federal Government. As described in the United States Constitution, the Executive Branch is given the primary responsibility to administer the laws of the Federal Government. The Judicial Branch is given the primary responsibility to interpret such laws, and to resolve disputes. The Bankruptcy Court is part of the Judicial Branch. One of the primary functions of the Legislative Branch is to make or create not only Federal Law, but also Bankruptcy Law. A Debtor that files Bankruptcy is now demanded to produce certain documents, in addition to the Bankruptcy Petition. Among those documents are copies of the last two years tax returns filed by the Debtor, evidence of any income received by the Debtor in the last six months, six months of bank statements, and other information, including copies of automobile registrations, retirement plan summaries, and related information regarding assets, and income. The Debtor in the Bankruptcy Petition will also reveal other information, such as the amount and nature of his or her debts. In addition, the debtor must answer or disclose other information, such as whether the Debtor transferred any Property, within certain time periods. If the Debtor transferred any Property, including real or personal property, or Interest in property within two years preceding the filing of the debtor’s bankruptcy petition, there may be grounds for the Chapter 7 Bankruptcy Trustee, to seek an Avoidance of such Transfer on the grounds that the Transfer is a Fraudulent Transfer. However, under Florida Law, the Fraudulent Transfer or Conveyance Statute carries a four year Statute of Limitations. The Bankruptcy Court of the Middle District of Florida, Tampa Division applies the Florida or State Law in its interpretation of Fraudulent Transfers. Therefore, the Chapter 7 Bankruptcy Trustee will often question a Debtor whether he or she transferred any Assets within four years of filing Bankruptcy. The trustee’s power to avoid these fraudulent conveyances comes from the bankruptcy code section 11 U. S. C. 548. This section code sections differentiates fraudulent transfers into actual fraud and constructive fraud and gives only the trustee the power to avoid actual or constructive fraudulent conveyances. If the Debtor made such Transfer, then the question is whether the Debtor had the actual intention to... --- - Published: 2019-04-09 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-chapter-7-and-13/ Chapter 7 and 13 bankruptcy is the most commonly filed forms of bankruptcy in the United States. Chapter 7 bankruptcy is often called a straight bankruptcy or a straight liquidation. For most of our clients who file Chapter 7 bankruptcy, however, there is no liquidation of their assets. For most forms of bankruptcy, including Chapter 7 and Chapter 13, the debtor or debtors are able to employ what are called exemptions. Exemptions are assets that the debtor is able to exempt or exclude from the seizure by the Chapter 7 trustee, or exclude from the amounts that must be paid to certain creditors in a Chapter 13 bankruptcy. Depending upon the jurisdiction, the debtor may apply either State or Federal exemptions, or a combination of both. Such exemptions are determined by the applicable legislative body to be necessary for the basic functions needed for the debtor’s maintenance of his or her household. For example, in Florida, there is a homestead exemption which protects most debtors from seizure of their homestead or home from attachment by creditors outside of bankruptcy, or seizure by a bankruptcy trustee, within a bankruptcy. A debtor may not qualify to file a Chapter 7 bankruptcy if his or her income significantly exceeds the median income as determined by the place where the debtor resides and seeks to file bankruptcy, and as determined by the number of persons in the debtor or debtors’ household. The US Trustees Office is assigned the duty of publishing the median income determinations. Chapter 13 bankruptcy in some ways is more complex than Chapter 7 bankruptcy, and affords the debtor more tools to address his or her debts. Chapter 13 bankruptcy is often employed by persons seeking to stop foreclosures on their homes or other real property. In a Chapter 13 bankruptcy, one can sometimes eliminate second mortgages on homesteads. A Chapter 13 debtor may either value his automobile where he or she only pays the true value of the automobile through the Chapter 13 plan, or alternatively, may “refinance” the automobile, which often saves the debtor a significant amount of money in interest charges. Chapter 13 bankruptcy and Chapter 7 bankruptcy can confer many additional benefits that are beyond the subject of this article. If you are interested in more information, please examine our website, which contains information on most matters relating to bankruptcy. If you are considering whether to file Chapter 7 or Chapter 13 bankruptcy, please contact our law office at 1-800-407-3328 (DEBT), or contact us through our website. If you are in debt, we can help. Picture Credit: www. 123rf. com --- - Published: 2019-03-25 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-fraud/ Bankruptcy Fraud encompasses many different elements related to Bankruptcy Law. Bankruptcy Fraud can appear in many different forms. A Bankruptcy Practitioner can spend a lifetime focusing his or her practice solely on the representation of clients, either debtors or creditors, in matters relating to Bankruptcy Fraud. Bankruptcy Fraud can be discerned more clearly by the actions of a debtor that demonstrate an actual intent to commit Bankruptcy Fraud. The debtor that announces his intent to commit Bankruptcy Fraud is not common. Real life does not operate like a Perry Mason episode, where the accused, submitted to a heated cross-examination, stands and announces, “Yes, I did it! ” The more commonly forms of Bankruptcy Fraud where actual intent is manifest includes circumstances where a debtor or his counsel attempts to bribe a court official, such as a Bankruptcy Trustee or a Bankruptcy Judge. Another instance may occur where a debtor files multiple Bankruptcies in different jurisdictions, while presenting either false or even true information. A debtor may intentionally submit either incomplete or false Bankruptcy Forms. A debtor may purposely conceal or not reveal property or assets that he or she fears may be subject to liquidation or sale by the Bankruptcy Trustee. It is said that the purposeful concealment of assets is the most common form of Bankruptcy Fraud. Even in such examples, it is unlikely the actor will admit he or she had the actual intent to commit Bankruptcy Fraud. In such instances, the investigator or prosecutor will look at circumstantial evidence that indicates that the participant had the intent to commit Bankruptcy Fraud. This is sometimes referred to as badges of Fraud. Such circumstantial evidence that may establish that the debtor had the requisite intent to commit Bankruptcy Fraud may include situations where the debtor was insolvent at the time of the transfer, where the debtor listed the property in his or her schedules for much less than its actual value, where the debtor transferred the property for much less than actual value, or where the debtor retained control of an asset that was transferred. While such instances constitute a form of Fraud in a broader interpretation, such actions by themselves do not necessarily rise to the level of a punishable criminal offense. An insolvent debtor that transfers an asset for less than fair value before filing Bankruptcy may find the Bankruptcy Trustee assigned to his case will bring an Avoidance Action to void the transfer. Such an action is generally referred to as a Fraudulent Conveyance. An insolvent debtor that transfers an asset for less than fair value before filing Bankruptcy and does not reveal such transfer in his or her Bankruptcy Petition, or denies such transfer under questioning by either the Bankruptcy Trustee, US Trustee, or the Bankruptcy Judge, may find the levy of criminal charges against him or her. The penalties for Bankruptcy Fraud can be somewhat severe. Bankruptcy Fraud is a Federal Crime, and Federal Prosecutors can introduce Federal charges for Bankruptcy Fraud. Federal Statute... --- - Published: 2019-03-12 - Modified: 2019-03-12 - URL: https://www.jayweller.com/bankruptcy-means-test/ WHAT IS THE BANKRUPTCY MEANS TEST? The bankruptcy means test is a process to determine whether a debtor is eligible to file Chapter 7 bankruptcy, based upon his or her income. After the application of the means test, if one has significant disposable income remaining, the debtor may not be eligible to file Chapter 7 bankruptcy. The bankruptcy means test was implemented in the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), and is designed to prevent debtors with high income from filing Chapter 7 bankruptcy. Debtors who fail the means test, may, however, be eligible to file Chapter 13 bankruptcy, whereby the debtor pays usually a portion of their unsecured debts over a thirty six to sixty month period. WHAT INCOME INCLUDED IN BANKRUPTCY MEANS TEST? What income is included in the bankruptcy means test? The bankruptcy code appears to include virtually every form of income, not subject to an exemption. This includes in alphabetical order: annuity payments; gifts or family support; gross income from the operation of business, farm or other profession; interest, royalties and dividends; pension and retirement income; regular spousal or child support; rental and real property income; state disability insurance; wages, tips, salary, overtime, bonuses, and commissions; and workers compensation. CALCULATION OF INCOME PURSUANT TO THE MEANS TEST The debtor first determines his income for purposes of the means test by averaging his or her income for the six months prior to the month the debtor files bankruptcy, in order to arrive at the monthly disposable income. This is defined as the debtor’s Current Monthly Income or CMI. For example, if the debtor files his or her bankruptcy in November, the debtor will average the income received in the months of May, June, July, August, September, and October. CERTAIN INCOME IS EXEMPT FROM BANKRUPTCY MEANS TEST Some income is exempt from the bankruptcy means test. This includes payments received through Social Security. This includes Social Security Retirement Income and Social Security Disability Income. Disabled Veterans in some cases may be exempt from the bankruptcy means test. Also, if the debts are primarily business, and not consumer, debts, the debtor’s income is exempt from the Chapter 7 bankruptcy means test. Additionally, Temporary Assistance for Needy Families is exempt from the bankruptcy means test. DISABLED VETERANS EXEMPT FROM BANKRUPTCY MEANS TEST A Disabled Veteran may be exempt from the bankruptcy means test provided the Disabled Veteran incurred the debt primarily while serving either in homeland defense activities, or while on active duty. If the Disabled Veteran incurred the debt while not on active duty or homeland defense activities, he or she does not qualify for the exemption of such income from the bankruptcy means test. The exemption will not apply also if the majority of the debts were incurred while the Veteran was not on active duty. In addition, the Veteran must have a disability rating of at least 30%. Although the Veteran may exempt Veteran Disability Benefits from the Means Test, he or she may... --- - Published: 2019-03-04 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-chapter-7-cost/ The cost of a Chapter 7 bankruptcy may differ depending upon the region or jurisdiction in which the debtor files Chapter 7 bankruptcy. This means the cost in terms of attorney fees may differ. The filing fees are the same within all of the jurisdictions in the United States. The filing fee for a Chapter 7 bankruptcy is $335, as of May, 2017. No matter where one files Chapter 7 in the United States, the filing fee is $335. The filing fee has been steadily increased over the years. In 1993, the filing for a Chapter 7 bankruptcy was $160, according to the recollection of the writer, Jay Weller. The attorney fees for a Chapter 7 bankruptcy can vary according to a number of factors. In a jurisdiction with higher costs of operation, taxes, and other detriments to the operation of a business, the attorney fees can be significantly higher than those charged in a jurisdiction with a lower cost of operation. The attorney fees can also differ depending upon the difficulty inherent in the particular Chapter 7 bankruptcy filing and prosecution. Some Chapter 7 filings involve more effort or work on the part of the bankruptcy attorney. In the Middle District of Florida, Tampa Division, the attorney fees for Chapter 7 bankruptcy usually range from a low of $800 to a maximum of $2,000. The US Trustee and the bankruptcy court govern over the maximum permissible attorney fees a bankruptcy attorney may charge for Chapter 7 bankruptcy. At the time of the writing of this article, the writer believes that the maximum fee for attorney representation in a Chapter 7 bankruptcy is $2,000. A bankruptcy attorney may charge more than $2,000 if he or she can demonstrate additional work in the bankruptcy justifying a higher fee. The attorney may be required to show time records indicating the number of hours committed to the representation of the debtor in the Chapter 7 bankruptcy. Another factor that can determine the attorney fees charged in the bankruptcy is the fees demanded by the attorney himself of herself. Some attorneys, as some other professionals, simply charge or demand more for their services. Sometimes, the higher fee is justified. The attorney may provide a higher level of service and representation than others providing such like services. Sometimes, the fee is not justified and is simply based upon the demands of the attorney. It is sometimes difficult to make such a determination. Does a higher fee mean the service is superior than that charged by a professional or service provider who charges a lower fee. The author remembers a sign in an Italian deli. If one pays a higher than average fee for a service, the purchaser usually receives what he or she wants by the tendering of the fee. If one pays substantially lower for a service or good than is the average cost then he or she may receive a superior service or good, but more likely will not. The best advice is... --- - Published: 2019-02-18 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-attorneys-ten-considerations-when-choosing-a-bankruptcy-attorney/ Going through bankruptcy can be a stressful and time-consuming situation. Weller Legal Group is here to help make the bankruptcy process easier and more efficient for you and your family. In this article we are going to discuss a popular question that many clients have, and that is 10 things to consider when choosing a bankruptcy attorney. WHAT IS A BANKRUPTCY ATTORNEY? Bankruptcy attorneys come in many shapes, sizes, and experience levels. This is why it is important to understand exactly what a bankruptcy attorney is and what they do. The definition of a bankruptcy attorney is a type of lawyer that specializes in the bankruptcy process, having knowledge about the various types of bankruptcy, filing the required documents with the court, and helping solve any issues with your creditors. The most commonly filed types of bankruptcy cases for consumers are Chapter 7 and Chapter 13 bankruptcy respectively. 10 THINGS TO CONSIDER WHEN CHOOSING A BANKRUPTCY ATTORNEY Reviews When choosing a bankruptcy attorney, it is important to look into the history of that attorney before deciding if he or she is a right fit for you and your bankruptcy case. If an attorney has a proven track record of providing great results for their clients, then it would be a good indication that they will do the same in future cases and your case. Do not look down at the power of reviews or the recommendations of friends and family. If a friend or family member refers you to a particular attorney, chances are they had a good experience with that attorney and there’s a good chance you will too. Price Not all bankruptcy lawyers have the same level of expertise, therefore bankruptcy lawyer’s prices may be quite different from one another. It is important to do your homework on the firm you are interested in and make sure you are well aware of how much the bankruptcy will cost you. Just because a lawyer is inexpensive does not necessarily mean that they are the best person for the job. Conversely, just because a certain lawyer is more expensive than his peers does not mean that he is the best bankruptcy lawyer in town. Make sure to do your research on bankruptcy lawyers within your area to decide which lawyer and price range you think would be best for your individual situation. Experience Each bankruptcy attorney you may encounter will have different levels of experience. Some bankruptcy attorneys may have just started practicing law for a few months, while others may have been practicing bankruptcy law for over 20 years. If an attorney has been practicing law for over 20 years, it is probably a good indication that he or she is proficient in the practice of bankruptcy law. The level of experience from your bankruptcy attorney is something that can be just as important as whether or not they have solid reviews. Services It is important when you are choosing your bankruptcy attorney to see what services they are... --- - Published: 2019-02-04 - Modified: 2024-12-19 - URL: https://www.jayweller.com/the-duties-of-the-chapter-7-bankruptcy-trustee/ We at The Weller Legal Group know how difficult it is to file bankruptcy. We are here to help you with making the Chapter 7 bankruptcy process easier for you and your family. In this article we are going to discuss a common question that we get asked and that is what are the duties of a Chapter 7 bankruptcy trustee. WHAT IS CHAPTER 7 BANKRUPTCY? Chapter 7 bankruptcy is the type of bankruptcy where a trustee is appointed to liquidate nonexempt assets to pay off creditors. After the proceeds are exhausted, whatever remaining debts will be discharged. In order to file for Chapter 7 bankruptcy, the debtor must not have a preceding case of Chapter 7 bankruptcy within the last 8 years. Chapter 7 bankruptcy is also known as a straight or liquidation bankruptcy. DUTIES OF THE CHAPTER 7 BANKRUPTCY TRUSTEE Reviewing the bankruptcy petition The Chapter 7 bankruptcy trustee must review the debtor’s petition. The trustee will review your personal and financial information about your debts to verify that they are accurate. If the bankruptcy trustee discovers any fraud or abuse to the bankruptcy system they will be obligated to report it. You will most likely have to send the Chapter 7 bankruptcy trustee your paystubs, tax returns, and any other information regarding your assets. Examining the debtor The trustee will be responsible to examine the debtor at the hearing to decide whether or not you are being honest with your situation. Usually the creditors will not attend these hearings, so it is in the creditor’s best interest if the trustee can determine if the information you give them is accurate. If the trustee believes that you are withholding information, they may press you by asking you more questions while you are under oath in the court room. Selling your assets The trustee will be responsible for selling your assets after they determine the value of your nonexempt property. During your bankruptcy case there will be exempt assets and nonexempt assets. The exempt assets are property that you are allowed to keep even after filing Chapter 7 bankruptcy. The nonexempt assets are property that your creditors will liquidate in order to retrieve as much money back as they can. In regards to the selling of your assets, most likely the Chapter 7 bankruptcy trustee will hire an auction company and they will auction off your assets to the highest bidder. Meet with your creditors Your Chapter 7 bankruptcy trustee will appear at your creditors meeting. This meeting you must also attend or your bankruptcy case can be dismissed. During this meeting they will try to determine what assets are exempt and which are nonexempt. Usually the trustee will come alone but in some cases they may be accompanied by an attorney. Search for nonexempt assets Many people are unaware of this but a Chapter 7 bankruptcy trustee may ask to search your home to determine whether or not you are hiding nonexempt property. If you decide not to... --- - Published: 2019-01-29 - Modified: 2024-12-19 - URL: https://www.jayweller.com/the-roles-of-the-chapter-13-bankruptcy-trustee/ Going through bankruptcy is a very stressful and time-consuming situation. We at The Weller Legal Group are your helping hand in making the bankruptcy process easier and more efficient for you and your family. In this article we are going to discuss a popular question that many clients have, and that is what are the roles of a Chapter 13 bankruptcy trustee. WHAT IS CHAPTER 13 BANKRUPTCY? Chapter 13 bankruptcy is a type of bankruptcy where the court determines a debtor’s disposable income and uses this to decide on an amount to be used towards debt repayment. A Chapter 13 bankruptcy debt repayment plan usually can last anywhere from 3 to 5 years. During the repayment plan the debtor is not allowed to take out any more significant debt without the approval of the court. After the payment plan all remaining dischargeable debts will be discharged by the debtor. ROLES Analyze and authenticate information provided The trustee must be able to analyze and authenticate information that is pertaining to the filer’s bankruptcy case. They must be able to verify your initial bankruptcy filing, petition, schedules, and statements. The trustee may request to see your financial documentations to confirm that they support the information that you have provided in your bankruptcy papers, they will require you to provide your tax returns and any other evidence of income. Be prepared to answer any questions that your trustee may ask you throughout your Chapter 13 bankruptcy case. Identify fraudulent bankruptcy filings The trustee must be able to spot any evidence of fraud or deceit in regards to your bankruptcy filings. If they discover such evidence they are required by law to report this to the court. Be aware that any abusive filings could be enough reason for the court to dismiss your bankruptcy case completely. Participate in the bankruptcy case to help recoup your assets The trustee in your bankruptcy case may be able to help you recoup your assets that you transferred to others before filing your bankruptcy case. Participate in confirmation plans The trustee must object to the confirmation of your plan if it does not meet the qualifications of bankruptcy law or if it does not appear to be feasible under your financial situation. The trustee must make sure that you are reporting all of your income, which creditors will receive at least the same amount as if you were to file a Chapter 7, and that you are in a position to pay them back under the proposed plan. Collect payments to disburse to creditors The trustee in your Chapter 13 bankruptcy case must collect your plan’s payments and disburse the funds to your creditors. The trustee must make sure that they collect the proper amounts each time and that there is no discrepancy in the amounts received. Be aware if your financial situation changes during the length of your plan, the amount of your plan payments may also increase or decrease, depending upon the situation. Provide status information... --- - Published: 2018-12-10 - Modified: 2024-12-19 - URL: https://www.jayweller.com/five-benefits-of-filing-bankruptcy/ Each year, a multitude of individuals, families, and small businesses are faced with the decision as to whether or not Chapter 7 Bankruptcy is a viable course of action. Alternatively, a Chapter 13 filing may be a better course of action for some who may not qualify for Chapter 7 relief. And, for some businesses and certain individuals, a Chapter 11 petition may be the right course of action. In any given situation, one of the three may be the better decision depending upon a number of factors. This article will explore the propositionposed in the title while offering five benefits of filing under one of the more common bankruptcy chapters. Before proceeding to the significant part, a brief introduction to the three bankruptcy Chapters may be useful to the reader: Chapters in Bankruptcy: Liquidation... Personal Reorganization... & Business Reorganization Individuals and businesses faced with overwhelming debts may – as a final solution – choose to file for bankruptcy as a “last resort”. Under the U. S. Bankruptcy Code there are several variations – “Chapters” – with differing provisions. People on the verge of filing under one of the Chapters should know the major options that may be available to them under the code. The three most common bankruptcy provisions in the United states are Chapter 7, Chapter 11, and Chapter 13. 5 Benefits of Filing for Bankruptcy Benefit #1: In a 2013 article posted online by Business News Daily, the author stated: Bankruptcy is a legal process whereby individuals or businesses can publicly declare that they are unable to pay all their bills, as a way to help then get out from under their debt. Bankruptcy laws help people and businesses get a fresh start financially(emphasis added) by having their assets liquidated in order to pay off their debts, (e. g. Chapter 7) or by creating a reorganization plan. (e. g. Chapter 13 or Chapter 11) In Chapter 7 bankruptcy, then, a major benefit of taking the bankruptcy route for individuals burdened by heavy debt is the liquidation feature that erases eligible obligations that would otherwise have to be paid. At the end of the Chapter 7 process, the “discharge of debt” allows the debtor to gain a fresh financial start without the continued stress of dealing with collection calls, threats, and the possibility of lawsuits. The obvious benefit of a Chapter 7 bankruptcy is that your bills “go away”. This applies to most credit card debt (the single most pervasive type of debt for those in need of bankruptcy), old medical bills, and other unsecured debt. In a Chapter 11 or Chapter 13 bankruptcy, the ability to “reorganize debt” via a Court-sanctioned reorganization plan allows the filing debtors to at least “get a handle” on their burdensome debt and arrange to pay it down, over time, with terms more favorable to the debtors. To recap, Chapter 7’s “liquidation” provisions are a great benefit for debtors who are inundated with debt and who have stood the test of creditor... --- - Published: 2018-12-03 - Modified: 2024-12-19 - URL: https://www.jayweller.com/do-i-need-to-file-for-bankruptcy/ It has been said that for most people “... bankruptcy is a scary proposition... ”. Depending upon the type of bankruptcy case, a person’s asset vs. debt ratio, and myriad other factors, it could be added, “... and rightfully so”. Even the word “bankruptcy” has an ominous ring to it – and – the concept of “going bankrupt” has been a shaming one for most people over the course of history. Yet, bankruptcy remains the “law of the land” for individuals and corporations alike. The list of famous people and iconic companies that have “gone bankrupt” is long and storied. The current U. S. President – Donald J. Trump – has declared bankruptcy on at least four occasions during the course of his business career. Movie stars and professionals in the sports world have also declared bankruptcy. Small business owners and people who work for wages are also among those who have taken the road to bankruptcy On the corporate side, such iconic businesses as Toys ‘R Us, Sears, ENRON, and others have availed themselves of bankruptcy protection in the past years and decades. The list of “bankrupts” is a long one for sure. So that brings us to an individual – “Mr. Joe American” – the average working stiff who let his debts grow larger than his assets. “Mr. Joe” is “underwater” financially and in a “sink-or-swim” situation at the end of every month. What about him? Are there scenarios where, when he asks himself the question, “Do I need to file for bankruptcy? ”, the obvious answer could be a resounding “yes”? This article will briefly explore that central question as it applies to working people who are not of the wealthy class, who do not own piles of stock in major corporations, and who work for wages as they try to get by from week-to-week, paycheck-to-paycheck. There are several questions that should be asked in conjunction with our primary question at hand – those include: Are you unsure how much you actually owe to creditors? Does the thought of analyzing your finances make you feel overwhelmed and out of control? Do you use credit cards to pay for everyday necessities? Do you regularly only pay the “minimum due” on credit card debt? Are you hounded by debt collectors and creditors? Are you considering debt consolidation or credit repair? The above-list is not all-inclusive or a definitive answer to the question posed. To be sure, there are other questions that may be posed and wider considerations to consider. However, authorities in this area of the law generally agree that if you were to answer “yes” to two or more of the above-stated questions then the answer to the question, “Do I need to file for bankruptcy? ” is more likely than not “yes”. Total Debt Uncertainty: People who do not know how much they owe in debt – secured debt, credit card debt, or long-term debt – are playing with “financial fire”. Those in this category are far... --- - Published: 2018-11-26 - Modified: 2024-12-19 - URL: https://www.jayweller.com/should-i-file-for-bankruptcy-reasons-why-bankruptcy-may-be-right-for-you/ The decision to file for bankruptcy is a tough one no matter how you cut it. Going through the bankruptcy process takes time and money. Once a petition is filed, a person’s entire financial situation is a matter of public record and open to others. The process will take an emotional toll on the filer and his/her family and loved ones as well. So – again - the decision to file for bankruptcy is a tough one. One that should not be taken lightly and without considerable reflection, consideration of all the variables involved, and forethought. This article will briefly explore some of the varied reasons why filing for bankruptcy might be the right move for financially stressed and strapped individuals. The “reasons” cited in this article are not fully determinative or all-inclusive. As with any legal matter, people who are considering filing for bankruptcy – Chapter 7, Chapter 13, or Chapter 11 – should consider consulting with qualified legal professionals before making a final determination as to whether or not filing for bankruptcy is the right choice. Before exploring some of the reasons “why bankruptcy may be right for you”, it will be instructive to look at a number of underlying factors and situations that might form the bases for filing under one of the bankruptcy chapters available to individuals. Those are, in brief: Out-of-Control Medical Debt One of the leading underlying reasons that people file for bankruptcy are exorbitant medical debts caused by chronic or catastrophic medical issues. Some of the “hidden costs” in this situation are lost income, travel expenses associated with treatment, medical equipment and in-home care costs, and other associated costs. Medical debt, and the other negative factors associated with it such as collectors for healthcare providers, and the accompanying stress, are one of the leading causes of working people filing for bankruptcy. Losing a Lawsuit No matter the nature or amount of a lawsuit, losing in a court of law, with the impending negative effects of being on the losing side, such as facing garnishment, property and bank account attachments, and loss of assets, is another driver of bankruptcy filings. Foreclosure on a Primary Residence For many, a pending foreclosure that a debtor has not been able to settle with the lender is another factor that causes people to file for bankruptcy. Under a Chapter 13 repayment plan, debtors can usually save their home and stop the foreclosure. The automatic stay provisions in bankruptcy allow the debtor to effectively have the time to catch up on loan payments. Debt Repayment Post-Divorce In many cases, a divorce will leave one spouse saddled with a disproportionate level of former community debt. In Chapter 7 cases, much or all of such debt can be liquidated; in Chapter 13 cases, a realistic repayment plan can be devised and agreed upon by the debtor and creditors. Loss of Employment – Drastically Reduced Income When someone loses his/her employment, or when a family’s take-home pay has been radically reduced, the... --- - Published: 2018-11-12 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-attorney-near-me/ If I was seeking bankruptcy help near me, I would probably contact Jay Weller at Weller Legal Group PA. Mr. Weller has practiced almost exclusively bankruptcy law, since his admission to the Florida Bar in 1993. Mr. Weller only represents debtors and never creditors. He primarily represents clients in Chapter 7 bankruptcy and Chapter 13 bankruptcy proceedings. If you need help in bankruptcy then Jay Weller is probably among the best bankruptcy attorneys currently practicing in the greater Tampa region that encompasses the Middle District of Florida, Tampa Division. The Tampa Division of the Middle District of Florida includes the Counties of Manatee, Sarasota, Pinellas, Pasco, Hillsborough, and Polk Counties. Weller Legal Group has multiple offices located throughout this region, which generally means that there is a law office conveniently located near to where most of our clients work or live. Mr. Weller feels it is very important that his clients receive the best attention and service possible while navigating through their difficulties relating to debt. Generally, when you contact Weller Legal Group, Mr. Weller will speak with you personally to discuss your issues pertaining to debt or creditors. Mr. Weller will analyze your complete situation and recommend real solutions to the matters confronting you. If you are in debt, we can help. Call Weller Legal Group today either toll free at 1-800-407-3328 (DEBT) or through the local numbers listed on our website. You may also contact us through our website, at www. jayweller. com. For bankruptcy help near you, contact us today. Picture Credit: Dana Arena --- - Published: 2018-11-05 - Modified: 2024-12-19 - URL: https://www.jayweller.com/bankruptcy-pros-and-cons/ The pros and cons of Bankruptcy are myriad. Among the cons of bankruptcy, is the filing of a Chapter 7 or Chapter 13 Bankruptcy will appear on your consumer credit report for a period of ten (10) years. Presently, in order to qualify for a federally backed mortgage loan, a debtor’s bankruptcy must be a least two years old. Some creditors may not extend credit to debtor’s who are still within a bankruptcy. Some creditors will extend credit to a debtor still in bankruptcy, with the understanding that since the bankruptcy has already been filed, a debt assumed after the filing of the bankruptcy, is ordinarily not subject to Discharge in a Bankruptcy. One exception to this general rule is when a Chapter 13 debtor converts his or her Chapter 13 bankruptcy into a Chapter 7 bankruptcy. When such a debtor converts to the Chapter 7, the debtor may schedule for Discharge certain debts that were acquired after the filing of the Chapter 13 bankruptcy. Sometimes, filing Bankruptcy has an adverse effect on one’s credit score. For some Clients, filing bankruptcy dramatically improves their credit score. The majority of our Clients at Weller Legal Group over the years have enjoyed improved credit within two years of filing the bankruptcy. Bankruptcy in some instances may greatly improve one’s credit. The Discharge in a Chapter 7 bankruptcy or Chapter 7 bankruptcy means that one’s dischargeable debts are eliminated through the mechanism of bankruptcy. The reduction or elimination of one’s debts generally dramatically increases his or her debt to income ratio. The debt to income ratio is an important consideration in the determination of your credit score or credit rating. Bankruptcy has clear advantages for some debtors. Bankruptcy, through the automatic stay, generally stops all foreclosures on homesteads or other real property. Bankruptcy usually stops wage garnishments, most lawsuits, and collection activity by even the most aggressive of creditors, including the Internal Revenue Service. Bankruptcy can permit a debtor to only pay the true value of his automobile with the negative equity forgiven through bankruptcy procedures. A debtor may also refinance his or her automobile, often dramatically reducing the interest rate owed pursuant to the original automobile loan agreement. Bankruptcy has many advantages and possibly many disadvantages. Such determination is based upon the facts of your particular case. Picture Credit: OpenClipart-Vectors --- - Published: 2018-10-29 - Modified: 2024-12-19 - URL: https://www.jayweller.com/find-a-bankruptcy-attorney-in-clearwater-fl/ It is hard to find a good bankruptcy attorney in Clearwater, FL. However, Jay Weller at Weller Legal Group PA is here to help. Mr. Weller has practiced almost exclusively bankruptcy law since 1993. Mr. Weller only represents debtor and never creditors. Mr. Weller also practices mostly in the representation of debtors in Chapter 7 and Chapter 13 bankruptcy in Clearwater, Polk, Hillsborough, Pinellas, Pasco, Hernando, Manatee and Sarasota Counties. Since 1993, Weller Legal Group PA has represented many thousands of clients in the filing of bankruptcy and the prosecution of its clients bankruptcies. Weller Legal has saved thousands of homes from foreclosures, stopped the repossession of thousands of automobiles, ended thousands of lawsuits, and stopped thousands of garnishments. Weller Legal is currently the largest bankruptcy law firm with a concentration almost exclusively in the representation of debtors in Chapter 7 and Chapter 13 bankruptcy, in the Middle District of Florida. Weller Legal Group has multiple offices located throughout the greater Tampa region which encompasses Polk, Hillsborough, Pinellas, Pasco, Hernando, Manatee and Sarasota Counties. We generally have an office conveniently located near to where you work or reside. The bankruptcy attorneys and paralegals at Weller Legal Group are all knowledgeable and experienced in most matters relating to Chapter 7 and Chapter 13 bankruptcy. For those looking to find a reputable and experienced bankruptcy attorney, please contact Mr. Weller today toll free at 1-800-407-3328 (DEBT). You may also contact us through our website at www. jayweller. com. The consultation is free and Mr. Weller will often speak and meet with you directly. At Weller Legal Group, if you are in debt, we generally can help and offer real solutions. Picture Credit: familydivorcesolutions --- - Published: 2018-10-01 - Modified: 2018-10-01 - URL: https://www.jayweller.com/pinellas-county-in-west-central-florida/ Florida and Pinellas County The first permanent white settlement on the Pinellas Peninsula was established in 1832 by Odet Philippe in the present-day Safety Harbor area of Pinellas County. The settlement history of the county, however, dates back much farther, to about 200 A. D. , when the Weeden Island culture took hold along the central Gulf Coast of Florida. In about 1000 A. D. the Tocobaga Indians were thriving in central Pinellas County. In the 1500’s, the first Spanish exploration of the area occurred. In 1528 a Spaniard, Panfilo de Narvaez, is believed to have landed somewhere on the Pinellas Peninsula. Just eleven years later, in 1539, the more-famous Spanish Explorer, Hernando deSoto, is believed to have begun his first exploration of the Tampa Bay area. The following early dates in the 1800’s are a few of the many “milestones” that residents of, and visitors to Pinellas County may find interesting: Milestone Year Notable Event 1834 Hillsborough County established – Pinellas Peninsula included within the County’s jurisdiction and known as West Hillsborough 1853 First white child born in Pinellas County – Odet “Keeter” Booth 1855 Area’s first public school established (on site of present-day Clearwater High School) 1859 Clear Water Harbor is the first point on the Pinellas Peninsula to become a community; first Post Office established in Clear Water Harbor 1884 Civil War Veteran Zephaniah Philipps is the first settler on the Pinellas Peninsula’s Gulf Coast Barrier Island (Long Key/Pass-a-Grille) 1887 Tarpon Springs established as the first incorporated City on the Pinellas Peninsula In 1912, because of a referendum, Pinellas County seceded from Hillsborough County and was established as a separate political subdivision. With secession, Pinellas County became Florida’s 48th County, with the City of Clearwater as its seat of county government. The name Pinellas derives from the Spanish words Punta Pinal which translates to “point of pines” in English. In the days of the early Spanish explorers, the Pinellas Peninsula was a verdant layer of pine trees, hence the name and its derivation from the Spanish. Demographics Pinellas County is the second smallest county in Florida (Union County is the smallest) with an area of 280 square miles. The county is 38 miles long and 15 miles wide at its broadest point. The area of Pinellas County includes a total of 588 miles of coastline stretching along the Gulf of Mexico to the west of the county’s land mass. Despite its relatively small size, the county is the most densely populated in the State. As of 2010, there were 3,347 people per square mile – the next closest county with a highly concentrated population is Broward County with 1,445 people per square mile. In terms of population unrelated to land mass, Pinellas County is Florida’s sixth most populous county – Pinellas accounts for 4. 7% of the state’s overall population. The last national Census in 2010 showed that the population of Florida was 18,801,332, a 17. 6% increase over the 2000 Census numbers. At the same time,... --- - Published: 2018-09-24 - Modified: 2018-09-24 - URL: https://www.jayweller.com/clearwater-st-petersburg-pinellas-county-florida-fun-facts/ (From THE “Fun Fact Factotum” ) Clearwater... St. Petersburg... and Pinellas County... All are situated in the State of Florida. All are sited along or immediately near the Central West Florida coastline along a 55-mile long stretch of the Gulf of Mexico. The longitudes and latitudes of the three geographical locations vary slightly. Those are: Location Latitude Longitude Elevation Clearwater 27. 796745 -82. 796745 30 feet St. Petersburg 27. 773056 -82. 639999 43 feet Pinellas County 27. 8764 82. 7779 (not given) Clearwater, St. Pete and Pinellas County – being so close in proximity – share common weather, rainfall, days-of-sunlight, and the like. Fun Fact: Those from Pinellas County & surrounding areas refer to St. Petersburg as “St. Pete”] Consider the following statistics for Clearwater and apply them to the two other locales: Average Temperature: December, January & February March, April, May, October & November June, July & August 58 f (+/-) 67 f (+/-) 82 f (+/-) Average Days of Rain: January: 22 February: 19 March: 21 April: 24 May: 23 June: 15 July: 12 August: 10 September: 16 Oct: 23 Nov: 22 Dec: 23 Average Daily Sunshine: January, February & December: March, September, October & November: August: April, May, June & July: 8 hours 9 hours 10 hours 11 hours Average Sea Temperature: January, February & March: April & December: May & November: October June & September: July: August: 70 f 73 f 77 f 81 f 82 f 84 f 86 f Fun Fact: Cold-water swimmers come visit January – March; warm-water swimmers come visit in July & Aug. City of Clearwater “Fast Facts” Clearwater was first incorporated as a Town in 1891. Clearwater was re-incorporated as a City in 1915 Clearwater was first settled as a small community on the Pinellas Peninsula as “Clear Water Harbor” The City of Clearwater is the County seat of Pinellas County Clearwater is 35 minutes west of Tampa and 25 minutes northeast of St. Petersburg Clearwater is the second largest city in Pinellas County; St. Petersburg is the largest The original inhabitants of present-day Clearwater were the Tocobagan Indians The area around present-day Clearwater was first settled by non-natives around 1835 when the U. S. Army established Fort Harrison as an outpost during the “Seminole Wars” During the Civil War, Union gunboats raided Clearwater for supplies Clearwater has a diverse cultural, leisure, and outdoor environment – attractions include: The Clearwater Marine Aquarium The Clearwater Fine Arts Show The Clearwater Pier 60 “Make a Difference” Fishing Tournament The Florida Botanical Gardens The Gulf Coast Museum of Art Heritage Village The Leepa-Ratner Museum of Art The Medieval Brass Rubbing Center and Museum Moccasin Lake Nature Park Pinewood Cultural Park The Clearwater Beach Section of Clearwater Fun Fact: The beaches at Clearwater Beach are the most likely to be voted “#1 Beach (in the U. S. & the World) City of St. Petersburg “Fast Facts” St. Petersburg was co-founded in 1876 by John C. Williams and Peter Demens The first railroad line into... --- - Published: 2018-09-17 - Modified: 2024-12-19 - URL: https://www.jayweller.com/reaffirmation-agreements-in-bankruptcy/ The primary thrust of Chapter 7 Bankruptcy cases is to deal with consumer debts in such a manner as to ultimately “discharge” them – i. e. eliminate the obligation to pay certain types of debt and get a “financial fresh start”. While not all debts are subject to “discharge”, many of them – primarily “consumer debts” – are. There are some circumstances where a debtor opts to continue to service certain debts that may be otherwise dischargeable in Chapter 7 bankruptcy proceedings. Being involved in a bankruptcy case does not prevent a debtor from voluntarily agreeing to pay a debt that would otherwise be dischargeable in the case. When a debtor agrees to pay an otherwise dischargeable debt, the transaction is contractual. To have a binding contract in such an instance, the debtor and creditor enter into a “reaffirmation agreement” whereby the debtor “reaffirms” his/her intention and willingness to pay what is owed the creditor on the other side of the agreement. Why Agree to Pay an Otherwise Dischargeable Debt? The most common scenario where a debtor might choose to reaffirm an otherwise dischargeable debt is when a creditor holds a security interest on the property of the debtor. The property may be an automobile, a major appliance or other substantive commodity, or a mortgage on real property. A common thread with such property is “... a purchase over time with periodic or recurring payments”. A creditor’s security interest protects the creditor if the debtor possessing the collateral is unable to pay the debt. In most cases, at some point the creditor usually has the right to take away and sell the property if contractual payments are not made. Bankruptcy does not erase or wipe out a valid security interest. If a debtor in bankruptcy wants (or needs) to keep property subject to another’s security interest, he/she will likely agree to executing a reaffirmation agreement that pertains to that asset. Such an agreement obligates the debtor anew to terms of payment and repayment agreeable to the creditor. Like any contract, reaffirmation agreements must meet the six basic requirements for a valid agreement: offer, acceptance, party competence, lawful subject matter, mutuality of obligation, and consideration. Another reason a debtor might agree to a reaffirmation agreement is when a security interest has more than one obligor, such as the case where a debtor in bankruptcy has an automobile on which there is a co-signor or guarantor. In Chapter 7 bankruptcy, a “discharge” is something that is available solely to the debtor; the discharge of obligations does not have any effect on the obligations of others. In most instances, a co-signor is liable to continue to make payments (or suffer repossession) upon the default of the primary debtor. With a reaffirmation agreement, the debtor is lifting the onus off the co-signor/guarantor. Advantages and Disadvantages of Reaffirmation Agreements Reaffirmation is anti-ethical to one of the primary purposes of bankruptcy, which is to give the debtor a clean financial position or re-start. At the same... --- - Published: 2018-09-10 - Modified: 2018-09-10 - URL: https://www.jayweller.com/clearwater-florida-more-than-just-beaches/ Clearwater, Florida, situated on the Gulf of Mexico in West Central Florida, is the County seat of Pinellas County. The region surrounding Clearwater and Pinellas County is known as the Tampa Bay Area. Clearwater is the third largest City in the region; the cities of Tampa and St. Petersburg are the two largest. Prior to the early-1800’s, the area surrounding present-day Clearwater was occupied by native Americans known as the Tocobaga people. In 1835, the United States Army began construction of an army fort which was named Fort Harrison after the army General and later U. S. President William Henry Harrison. The population of Clearwater was sparse throughout the 18th Century – just a few hundred inhabitants until the early 1900’s. In 1897, the railroad tycoon and early-Florida developer, Henry B. Plant, built a resort hotel, the Bellview Biltmore, just to the south of the city. The early 1900’s saw an influx of winter visitors to the area (the first snowbirds) who came down to escape the harsh winters in the Northeast. Around 1900, the permanent population of Clearwater was around 400 – during the winter months, that figure more than doubled. That trend continues through to today – in 2010, the population of the city stood at 107,685 according to that year’s Census. Today, the winter population of the region continues to nearly double every year as people from the North and Canada head south for the winter. Clearwater was first incorporated as a town in 1891 when the area was part of Hillsborough County (present-day Tampa is the County Seat of Hillsborough County). Pinellas County was founded in May, 1911, and formally established as the state’s 48th County on January 1, 1912, after the passage of a referendum that called for its separation from Hillsborough County. The Town of Clearwater was reincorporated as the City of Clearwater in 1915. The history of Clearwater and its surrounding environs is one story. A more contemporary story is to be told of the Clearwater of today. In 1957, Clearwater was the fastest-growing municipality in the United States. Today, the growth still abounds in and around Clearwater (subject to the restrictions of geography and a finite amount of space). Clearwater is known for its beaches, weather, activities, and attractions. Clearwater Marine Aquarium The Clearwater Marine Aquarium is “a non-profit working marine animal hospital dedicated to the rescue, rehab and release of marine life. ” According to the Aquarium’s website (www. seewinter. com) , the aquarium “... is not your typical aquarium... Visitors come to the aquarium to be inspired and educated by the ongoing work of rescue, rehabilitation, and release. ”dolphin, star and inspiration of the hit movies Dolphin Tale and Dolphin Tale 2, both filmed on location. Come be inspired and educated by our ongoing work of rescue, rehabilitation and release The aquarium, a 501(c)(3) non-profit organization, was founded in 1972, and is located in the Clearwater Beach section of Clearwater. The site of the facility is located in a former... --- - Published: 2018-09-04 - Modified: 2018-09-04 - URL: https://www.jayweller.com/stand-your-ground-in-clearwater-fl/ ** BACK IN THE NEWS ** The accused killer of Markeis McGlockton, Michael Drejka, went back to criminal Court in Pinellas County on Thursday to seek a reduction in his $100,000 bail. The request – in a hearing described by the St Petersburg Times as feeling “more like a trial” – was denied. Drejka is being held in the Pinellas County Jail on one count of manslaughter in the July 19th shooting at a Clearwater, FL convenience store. The genesis of the shooting and resultant fatality was an argument over McClockton’s girlfriend having parked in a handicap parking space without a permit. Drejka, the jailed shooter is White. McGlockton, the dead victim was Black, as is his girlfriend Britany Jacobs. Bail Reduction Hearing According to the St. Petersburg Times article on August 24th, the bail reduction request was one aggressively opposed by the prosecutors. During the hearing, the state’s attorney showed actual video taped footage of the shooting while recounting allegations concerning past accusations of Drejka’s aggression. The prosecutor’s also spoke out against some of the Pinellas County Sheriff’s reasoning in deciding, at first, not to arrest Drejka. In a move that brought a strong objection from Drejka’s counsel, prosecutors questioned whether Drejka was OK with some of the conduct by his lawyers. (*) (*) regarding whether Drejka was aware of a radio interview done by one of his attorneys and out-of-court statements by an attorney that called into question the legitimacy of Drejka’s taking the shot One of Drejka’s lawyers objected that the prosecutors’ “had gone way beyond the parameters of a bail hearing”. The defense also argued in favor of reducing bail that: Drejka poses no flight risk, cannot afford the $100,000 bail, has no criminal history, and hasn’t used the ‘national platform’ to his advantage”. At the end of the short hearing, Pinellas-Pasco Circuit Judge Joseph Bulone denied the bail-reduction petition. Drejka’s attorney tried to favorably use the early position of Pinellas County Sheriff Bob Gualtieri, saying the Sheriff stated on the day of the shooting that “Mr. Drejka was in fear for his life and therefore the ‘stand your ground’ defense was applicable. ” The Prosecutors immediately countered that “the Sheriff’s explanation wasn’t complete and included inaccurate information. The state’s attorney added “The Sheriff’s personal opinion about what he believes happened in this case isn’t relevant. ” Bolstering their argument that the $100,000 bail should stand; the state’s attorney went on to list several factors in favor of the manslaughter charge, as follows: First, McGlockton was ‘more than a few feet away – as the Sheriff had stated – when Drejka fired his fatal shot Second, the surveillance video showed that McGlockton was backing up and turning his body away from Drejka in the seconds before the shooting Third, the autopsy supported the view from the video by establishing that the fatal bullet entered McGlockton’s body through the left side and lodging below the right armpit Fourth, these noted details show that Drejka’s alleged “fear” wasn’t... --- - Published: 2018-08-27 - Modified: 2018-08-27 - URL: https://www.jayweller.com/standing-your-ground-in-clearwater-fl/ Clearwater, Florida is normally a quiet community that does not appear in the pages of national newspapers or on the nightly news broadcasts. Ordinarily, Clearwater’s “fame” centers on its laid-back lifestyle, pristine beaches, and a reputation for being a destination for vacationers and “snowbirds” seeking warmth in the winter and a place to frolic when the kids are out of school. That sense of the “normal” and “ordinary” was shattered on Thursday, July 19th of this year when an altercation over a parking spot at a local convenience store escalated into the shooting death of Markeis McGlockton, a Black Clearwater resident. McGlockton was shot by Michael Drejka, a White resident of Clearwater. McGlockton died at the scene of a single gunshot wound to his chest. That single altercation and one round from a gun shattered the calm of Clearwater and its surrounding environs. That single incident splashed Clearwater, Florida across the front pages of newspapers worldwide. “Stand Your Ground” Law In 2005, Florida was the first state in the Union to enact a Stand Your Ground law. Under the law, a person can use lethal force – with no legally imposed duty to “retreat” – if they believe they are placed in danger by another individual. Specifically, the law states: A person is justified in the use of deadly force and does not have a duty to retreat if he or she reasonably believes that such force is necessary to prevent imminent death or great bodily harm to himself or herself. (all emphasis added) In 2012, the stand your ground law was used successfully by accused murderer George Zimmerman, a Neighborhood Watch official who shot and killed teenager Treyvon Martin in Central Florida. A jury acquitted Zimmerman of 2nd Degree Murder based on the law. In the McGlockton shooting death, the alleged perpetrator, Michael Drejka immediately staked his justification for the shooting on the Stand Your Ground law. Drejka was not arrested at the scene of the shooting. After a short investigation, Drejka was allowed to go free by the Pinellas County Sheriff’s Office. On the date of the incident, Pinellas County Sheriff Bob Gaultieri told news media that, “... based on the ‘stand your ground’ law, the shooting was justified”. According to other sources at the Sheriff’s department, that was the early assessment of others besides the Sheriff – Drejka was justified in taking the action to prevent death or injury to himself. A Community Reacts – Protests & Vigils In the days following the shooting, community leaders and activists organized a protest at the site of the altercation and shooting, as well as a vigil at Clearwater’s Mt. Carmel Baptist Church that was attended by more than 150 people. The vigil and protest at the Baptist Church, organized by the Clearwater/Upper Pinellas County Branch of the N. A. A. C. P. , was one of many such events that took place in the aftermath of the shooting. Pastor Carlton Childs, the President of the Upper Pinellas County Ministerial... --- - Published: 2018-08-13 - Modified: 2024-12-19 - URL: https://www.jayweller.com/the-means-test-in-bankruptcy-chapter-7-part-iii/ Part III of Three Related Articles After passage of the BAPCPA in 2005, anyone wanting to file for Chapter 7 bankruptcy relief was faced with the new requirement of having to pass a “means test” to determine their eligibility. The primary purpose of the means test is to help the court determine whether an individual should be allowed to file a petition under Chapter 7, or if the filing should instead be under Chapter 13 of the bankruptcy code. Chapter 7 versus Chapter 13 Bankruptcy: There are fundamental differences between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy. Chapter 7 is known as straight bankruptcy or liquidation bankruptcy. Under a Chapter 7 filing, there is no payment plan requirement – if all goes according to the strictures of the code, at confirmation the debtor is absolved of paying all the debt listed in the petition (with some exceptions such as child support and alimony debt, some tax debts, and student loan debt). By contrast, a Chapter 13 bankruptcy filing centers upon a “payment plan” that is developed and presented to the bankruptcy court. Under a payment plan, the debtor proposes a schedule of debt payments that extend over a period of usually between three and five years. Once a Chapter 13 payment plan is completed (under strict guidance from a bankruptcy trustee), the debtor is entitled to a discharge of the remaining debt. The means test formula is designed to keep high wage earners from filing for Chapter 7 bankruptcy – the test determines whether a debtor’s income is low enough for them to file under Chapter 7. As noted, a debtor who does not qualify to file for Chapter 7 bankruptcy still has the option of filing under Chapter 13. The mere fact of having to take a Chapter 7 means test does not mean that a debtor needs to be at or near the poverty line to use Chapter 7 bankruptcy. A debtor can earn significant monthly income and still qualify if the persons’ expenses (such as a large mortgage, high car payments, and other out-of-the-ordinary monthly debts including taxes and other necessary household/family expenses) are great enough to offset the higher income. The means test uses a “current monthly income” standard (average income for the six months preceding a Chapter 7 filing) to calculate the debtor’s monthly “disposable income”. Business versus Consumer Debt / Bankruptcy: When the BAPCAP was being drawn up, the framers designed the means test to limit the use of Chapter 7 filings to “... those debtors who truly cannot pay their debts... ” (by deducting specific monthly expenses from the debtor’s “current monthly income” to come up with monthly “disposable income” to determine a “means” by which to pay down debt). The higher a debtor’s disposable monthly income, the more likely that person would not be allowed to file for Chapter 7 bankruptcy. Only petitioners with consumer debt are required to take the means test (those with business debt are exempted from... --- - Published: 2018-08-06 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-abuse-prevention-consumer-protection-act-of-2005-bapcpa-part-ii/ Part II – Changes in Bankruptcy Law The enactment of the Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA) in April, 2005, wrought significant changes in the law embodied in Chapter 7 of the United States Bankruptcy Code. Changes were also affected in Chapter 13 of the code, but such changes in that section were not as broad or as impactful as those in Chapter 7. Whatever changes were seen in Chapter 13 were a direct result from those embodied in Chapter 7, the latter being the primary target of such bankruptcy “reform”. The U. S. Bankruptcy Law – A Short History: The first ever bankruptcy bill was introduced in Congress in 1798, largely a result of land speculators over-extending themselves in the purchase of large tracts of land in the South. Without bankruptcy laws, people with large amounts of debt were jailed without having to settle their debts. That first bill was based largely on the bankruptcy laws of England. The bill wasn’t passed until February, 1800 – it was repealed less than three years later. In the mid-1800’s, a financial panic ensued over much of the United States which was still in its “infancy”. This financial panic came about because of a multitude of factors, including land speculation issues and practices (again), debts held by state governments, lax or near-non-existent credit policies, failure of banks, and crop failures. As a reaction to such panic and depression, Congress passed a subsequent bankruptcy law in 1840 (the Bankruptcy Act of 1840). Like the previous law, the 1840 enactment was repealed within three years of its passage. The Bankruptcy Act of 1867 was enacted, again because of financial panic and depression that came after the end of the Civil War. People in the U. S. – both creditors and debtors alike – took an immediate dislike of this third attempt at enacting and maintaining a viable bankruptcy law and system. For debtors, many felt that the law made them out to be “victims”; for the creditors, their gripes and dissatisfaction centered on possible abuse in bankruptcy by “irresponsible” debtors. That latter “rationale” would be used repeatedly over the years by proponents of strict bankruptcy laws and reform. Not surprisingly, the Bankruptcy Act of 1867 was itself repealed in 1878. Twenty years later, a fourth Bankruptcy law (the “Torrey Bill”, named after the representative from Missouri who introduced it in Congress) was passed in 1898 – this was the Bankruptcy Act of 1898, an act that was never repealed like the others that had come before. The Torrey Bill was a more debtor-friendly enactment that gave companies protections from creditors (thus, a “capitalist” reason to support such an enactment? ). While the 1898 laws were amended several times over the ensuing decades, it survived intact for a period of 80 years until it was replaced by “reform” legislation in the Bankruptcy Act of 1978. The 1978 enactments were a serious attempt to update outdated notions of bankruptcy law and practice, with many... --- - Published: 2018-07-30 - Modified: 2018-07-30 - URL: https://www.jayweller.com/the-bankruptcy-abuse-prevention-consumer-protection-act-of-2005-bapcpa/ Part I–Rationales The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was a “bankruptcy reform” measure passed by Congress during the fifth year of the Bush (#43) Presidency. According to a report by the U. S. House of Representatives’ Judiciary Committee (Report 109-031), the BAPCPA “represented the most comprehensive set of bankruptcy reforms in more than twenty-five years. ” Rationale for the BAPCPA: The law, passed by Congress and signed into law by President George W. Bush in April 2005, went into effect 180-days after it was enacted. At the time, various reasons (some of which are outlined in the report of the House Judiciary Committee) were given for the “need” for comprehensive bankruptcy reform. Amongst the cited reasons were the following: Increase in Bankruptcy Filings: In 1998, bankruptcy filings exceeded 1 million for the first time in history; in 2004, more than 1. 6 million bankruptcy cases were filed. Proponents of “reform” said that “... bankruptcy relief is too-readily available, ... sometimes being used as a method of ‘first resort’ rather than one of ‘last resort’... ”. Opponents said that abuse in the system was not widespread and pointed out that “... most bankruptcy filings result from causes beyond the control of debtors (i. e. family illness, job loss or disruption, or divorce). ” Passage of the BAPCPA was considered a “win” by its proponents. Debtor Losses Unfair to "Responsible” People: It was argued that there were significant financial and monetary losses associated with consumer bankruptcies. In testimony on the BAPCPA in the Senate, one witness said: “Like all other business expenses, when creditors are unable to collect debts because of bankruptcy, some of those losses are inevitably passed on to responsible Americans who live up to their financial obligations. Every phone bill, electric bill, mortgage... (etc. ) contains an implicit ‘bankruptcy tax’ that the rest of us pay to subsidize those who do not pay their bills”. According to some analysts, an increase in bankruptcy filings early in the 21st century had serious adverse financial consequences for the economy as a whole. In 1997, it was estimated that more than $44 billion of debt was discharged by bankruptcy filers (when amortized on an annual basis, the annual loss was $110 million per day – or – an annual ‘bankruptcy tax” of $400 on every U. S. household). By 2002, the annual losses to bankruptcy for credit card debt (proprietary and general purpose) was $18. 9 billion. And, in 2002, the Credit Union National Association (CUNA) reported over $3 billion in bankruptcy-related losses between 1998 and 2001. Again, proponents of “reform” claimed a “win” in the passage of the BAPCPA. Potential for Bankruptcy Abuse: Again, proponents of “reform” argued that the existing bankruptcy system had “loopholes and incentives” that allowed for “opportunistic bankruptcy filings that led to abuse of the system”. Such opportunistic abuse allegedly included debtor misconduct and abuse, misconduct by attorneys and other professionals, problems associated with bankruptcy petition preparers, and instances where a bankruptcy debtor’s discharge... --- - Published: 2018-07-24 - Modified: 2024-12-19 - URL: https://www.jayweller.com/gibson-brands-inc-dba-gibson-guitars-secured-bondholder-recovery-in-bankruptcy-court/ *** SECOND UPDATE *** According to a filing in U. S. Bankruptcy Court, the secured bondholders of Gibson Brands, Inc. bonds are set to receive 56 cents on the dollar for the $383 million in debt that they hold in the iconic guitar maker’s business. Senior secured bondholders, led by KKR & Company, were informed in a court filing yesterday (July 12, 2018) that such recoveries will come from Gibson under its Chapter 11 reorganization plan. The same bondholders are currently providing financing to Gibson during the pendency of its reorganization through the U. S. Bankruptcy Court in Wilmington, Delaware. The plan, as written, will ultimately cede a majority of the equity in Gibson to the senior secured bondholders. Gibson Brands filed a disclosure statement with the court on Thursday that also showed that the bankruptcy lenders will likely agree to take equity in the reorganized company instead of being repaid with “exit financing” or a new loan that the reorganized company will likely secure upon confirmation of its reorganization plan. Support for the likely outcome has been endorsed by 99% of the principal amount of Gibson’s secured bondholders. Gibson Brands, Inc. , headquartered in Nashville, TN, and related companies filed for Chapter 11 reorganization bankruptcy in May of this year. Gibson, owner of such iconic brands as Les Paul and Flying V, was founded in 1894. Earlier this year, company President and CEO Henry Juszkiewicz blamed much of the company’s financial woes on the financial struggles of its Hong Kong-based Gibson Innovations, Ltd. That division, acquired by the parent company in 2014 in a $135 million deal, has been a drain on the overall company since its acquisition. Gibson Innovations sells Phillips-branded consumer electronics such as headphones and speakers. The estimated recoveries for the two classes of general unsecured creditors will vary widely. One group of unsecured creditors, owed at least $230 million, will get nearly nothing. The Gibson Holdings, Inc. group of creditors, with claims of at least $407 million, may only receive 15 cents on the dollar. Gibson Holdings, Inc. owns a majority share in the TEAC Corporation. The TEAC company – Japan-based – is the maker of audio electronic products for home and professional use. It also manufactures industrial electronic products for the healthcare and aerospace industries. The current estimate value of Gibson’s TEAC holdings is $61 million, and the division is not part of the Gibson Brands bankruptcy action. Lastly, the smaller unsecured bondholders – those with claims in the range of $25,000 – stand to recover about 5 cents on the dollar. The value of the reorganized Gibson Brands, Inc. is expected to be in the range of $360 million to $430 million upon its exit from bankruptcy. As previously reported, Gibson Brands, Inc. will likely get plan confirmation in September 2018, at which point it will emerge from bankruptcy as the “new” Gibson-branded line of companies. Photo credit: Gibson Brands, Inc. --- - Published: 2018-07-16 - Modified: 2024-12-19 - URL: https://www.jayweller.com/business-bankruptcy/ A business bankruptcy can take a number of forms. In a Chapter 7, a corporation may file bankruptcy in order to seek the orderly liquidation of its enterprise. In a Chapter 7 bankruptcy, generally the corporation is liquidated and ceases its business functions. The assets of the business are sold and distributed among the creditors of the corporation. Despite the belief of many, including many bankruptcy attorneys, a corporation does not receive a discharge in a Chapter 7 bankruptcy. There are benefits for a corporation in filing a Chapter 7 bankruptcy. However, there are many instances where the filing of the Chapter 7 bankruptcy for a corporation has little benefit and only serves to generate unnecessary attorney fees and costs to the corporation. A business bankruptcy also can come in the form of a Chapter 11 bankruptcy or reorganization. In terms of a business, only a corporation can file Chapter 11 bankruptcy. Some of my clients who have businesses find that neither a Chapter 7 bankruptcy nor a Chapter 11 bankruptcy is beneficial to their goals. Most of my business bankruptcy clients want to continue the operation of their business, and concurrently, receive some relief from their debts. A Chapter 7 bankruptcy often leads to the liquidation of the business and the costs associated with the filing of a Chapter 11 bankruptcy are often prohibitive. Although a corporation cannot file a Chapter 13 bankruptcy, an individual can. Many small businesses operate without a corporate shield, as small proprietorships. For example, Danny Robinson doing business as ABC Pest Control can file a Chapter 13 bankruptcy and reorganize both his personal and business debts within the one device of Chapter 13. Another option for a corporation may be to dissolve the corporation and thereafter operate as a small proprietorship, such as Danny’s Pest Control. Thereafter, the debtor may file a Chapter 13 bankruptcy to reorganize his debts. One must be careful, however, in using this technique, and definitely consult my office before engaging in such a maneuver. My name is Jay Weller and I have practiced bankruptcy law since 1993. If you are in need of a business bankruptcy, or have any other needs relating to debt, please contact me directly at 1-800-407-3328 (DEBT) or through my website at www. jayweller. com. I will be happy to discuss your case with you personally. Image credit: succo --- - Published: 2018-07-09 - Modified: 2024-12-19 - URL: https://www.jayweller.com/filing-for-bankruptcy-can-help-you-reinstate-your-drivers-license/ There are several instances in which filing for bankruptcy can help you regain your driver’s license. In the state of Florida, if you are driving without insurance and you are involved in a car accident the Department of Highway Safety and Motor Vehicles (DHSMW) may suspend your driver’s license. However, filing for Chapter 7 or Chapter 13 Bankruptcy can sometimes help remedy this situation. If you injure someone or damage their property while driving uninsured, the other driver or interested party can sue you and get a judgment for damages arising out of the accident. The court will order you to satisfy that judgment in a limited amount of time, otherwise your license may be suspended until you are able to pay the judgement or the debt in full. The U. S. Supreme court in the case of Perez v. Campbell, 402 U. S. 637 (1971) specified “if the debt that caused the suspension of the license was discharged in a bankruptcy, then the license reinstatement could not be denied. ” In other words, if the state suspended or revoked your license for failure to pay a judgment from a motor vehicle accident while driving uninsured, by filing for bankruptcy you can discharge that debt, and have your driver’s license reinstated. Failure to pay any issued parking tickets can also lead to your driver’s license being suspended. Parking tickets are a non-dischargeable debt which must be paid in full to the issuing government agency. However, if you file Chapter 13, you can pay this debt under a payment plan over a period of three to five years. Also, child support and alimony payments are non-dischargeable debts that must be paid in full before your driver’s license can be reinstated. In both situations, an option is to file a Chapter 13 bankruptcy where you make monthly payments to pay off the non-dischargeable debt. Furthermore, if you present evidence to the Department of Motor Vehicles (“DMV”) that you are making payments on your Chapter 13 plan, the DMW may be able to release your license before obtaining a discharge of your bankruptcy. In some cases, though, filing for Bankruptcy will not reverse the suspension of your driver’s license. Bankruptcy Code, 11 U. S. C. § 523(a)(9), states that if you cause a person injury while driving under the influence of alcohol (“DUI”), and you were involved in an accident, the DMW will not release the suspension of your driver’s license until monetary judgment is satisfied. Any punitive damages or restitution ordered by the court related to a DUI will not be dischargeable under bankruptcy. Additionally, under 11 U. S. C. § 523 (a)(6), when you willfully and maliciously cause injury or damages to another person or entity, this debt may not be dischargeable and filing for bankruptcy will not provide a solution to the suspension of your license. In conclusion, if the reason for the suspension of your driver’s license is a debt dischargeable under bankruptcy law, often times you don’t have... --- - Published: 2018-07-02 - Modified: 2024-12-19 - URL: https://www.jayweller.com/what-is-chapter-12-bankruptcy/ Chapter 12 bankruptcy is a type of bankruptcy specifically fashioned to either family farmers or fishermen seeking to reorganize or consolidate their debts through bankruptcy proceedings. The most commonly filed Chapters of bankruptcy are Chapter 7 bankruptcy and Chapter 13 bankruptcy. Chapter 12 bankruptcy is probably one of the least commonly filed forms of bankruptcy. Even Chapter 11 bankruptcy or corporate reorganization, is probably more commonly filed than Chapter 12 bankruptcy. Chapter 9 bankruptcy, which involves the reorganization of the debts of a municipality, may be the least filed Chapter of bankruptcy after Chapter 12 bankruptcy. However, with the many cities which have mismanaged their monetary resources, and promised unrealistic pension benefits to their workers, Chapter 9 bankruptcy may in the future overtake Chapter 12 bankruptcy in terms of numbers of filings. Chapter 12 bankruptcy does offer some benefits to the family farmer or fisherman, including higher debt limits than may be permitted in a Chapter 13, and special advantages that may not be available to some debtors under different Chapters of the bankruptcy code. At Weller Legal Group, we have filed many thousands of bankruptcies since our founding in 1993. However, we have only represented one client in a Chapter 12 bankruptcy. That is an indication of how rare is Chapter 12 bankruptcy. Most attorneys, even those who primarily practice bankruptcy law, will never file a Chapter 13 bankruptcy in their entire career. However, if you are a family farmer or fisherman, and are contemplating whether to file bankruptcy, Weller Legal is equipped and knowledgeable to represent you not only in Chapter 12 bankruptcy, but also in the other forms of bankruptcy of which you may be eligible. Just because you are a family farmer or fisherman does not mean that Chapter 12 bankruptcy is the most beneficial choice for you. Call our office or contact us through our website. Mr. Weller will speak with you directly to discuss with and inform you of your options, as they apply to your specific situation. Mr. Weller really enjoys speaking with and helping the many persons who contact our office. Image credit: succo --- - Published: 2018-06-25 - Modified: 2024-12-18 - URL: https://www.jayweller.com/the-millennial-generation-selfish-slackers-or-next-modernist-generation/ Who are the “Millennials”? According to a recent study by the Pew Research Center, “Anyone born between 1981 and 2000 (ages 18 – 37 in 2018) is considered to be a Millennial... anyone born from 2001 onward will be part of a new generation”. As stated on its website, the Pew Research Center is a “non-partisan ‘fact tank’ that informs the public about the issues, attitudes and trends shaping the world. ” The Center is a subsidiary of the Pew Charitable Trusts, the primary funder of the Center’s research, analyses and data distribution. The study cited above was completed between May, 2017 and March, 2018 as a multi-part posting under the topic-heading, Millennials. (Citation: Pew Research Center, “FactTank. com”, Washington, DC. May 5, 2017 through March 1, 2018). The Pew Research Center has a policy of providing its data, including detailed sourcing, analysis, and background material to a wide range of users without charge. Those born in 2001 and after, for now, are being referred to as “post-Millennials” pending their being dubbed something more specific by researchers, the media and those who do such things. As the immediate successor to generation “X”, the Millennial generation is also sometimes known as, and referred to by the label Generation “Y”. There are no hard-and-fast dates for which one generation ends and another begins – researchers generally use imprecise dates from one generational cohort to the next. Researchers, analysts and others generally agree on the following dates as the brackets for the Silent generation, the Baby Boomer generation, Generation X and the Millennial generation: Generation Beginning Year Ending Year Length Silent 1928 1945 17 years Boomer 1946 1964 18 years Generation “X” 1965 1980 15 years Millennials 1981 2000 (*) 19 years Post-Millennials 2001 ---- ---- (*) Other sources peg the ending year at 1996 – the above figure is considered the more accurate estimation Each successive generation, beginning with the Silent generation, has been known for a singular event or happening that pretty much defined it. For the Silent generation, it was World War Two, a grouping of Americans that Journalist Tom Brokaw dubbed “the Greatest Generation”. For the Boomer generation it was the Viet Nam War that coincided with the turmoil of the 1960’s that resulted in a profound cultural revolution domestically and across the world. For Generation “X” it was the technological revolution that signaled another cultural shift in the United States that has also become a worldwide phenomenon of itself. For the Millennial generation? One cannot be sure if there’s been one significant “shaping event” that defines this generation. The Baby Boomer generation is the only one that has been officially recognized and designated by the United States Census Bureau. The recognition is based upon the now noteworthy surge in post-WW II births in 1946 and a steep decline in the birth rate post-1964. Other generational cohorts do not have the beginning (steep upsurge in baby births) and ending (steep decline in baby births) that are markers of the... --- - Published: 2018-06-18 - Modified: 2024-12-19 - URL: https://www.jayweller.com/weinstein-company-bankruptcy-harvey-weinstein-pleads-not-guilty/ *** FURTHER UPDATE *** In a further development related to the Weinstein Company’s Chapter 11 bankruptcy case, disgraced former CEO Harvey Weinstein today entered “not guilty” pleas to several charges in the State of New York Supreme Court in Manhattan. The pleas apply to one count of first-degree criminal sexual conduct and one count each of first-degree and third-degree rape. Weinstein’s attorney, Benjamin Brafman told reporters that the two sexual encounters alleged in the case were “consensual acts that do not amount to sexual criminal misconduct”. Today’s court appearance was Weinstein’s first since his arrest on May 25, 2018 on charges that he had sexually assaulted two women in New York. The indictments in the two cases were handed down by a New York City Grand Jury last week. Harvey Weinstein and his brother, Bob Weinstein were the co-founders of the independent film distribution company, Miramax in the late 1970’s. That company is largely credited with the “indie film revolution” that took place between the 1970’s and the 1980’s. The Weinstein’s sold Miramax to the Walt Disney Company in 1993. At the time, both brothers stayed on with Miramax as employees until they were eventually forced out of the company in 2005. The latest direct development in the Weinstein Company Chapter 11 case came on May 1, 2018, when the company announced that it had named a Dallas, TX private equity firm – Lantern Capital Partners – as the winning bidder in its bankruptcy sale. The deal, which is still subject to confirmation by the case’s Bankruptcy judge, is worth a purported $310 million, plus the assumption of an additional $115 million in company debt. The company has struggled over the past several months to secure a suitable buyer. The escapades and peccadillos of Harvey Weinstein are widely credited with the devaluation of Weinstein Company stocks and assets. The sale to last month’s successful bidder was to the company’s prearranged bidder – or “stalking horse” – which set a price floor that was met at auction. According to a statement by Ivona Smith, a member of the Weinstein Company Board, “Lantern’s bid clearly achieves the highest and best value”, to which she added, “We look forward to working with Lantern to close the transaction. ” Smith works for a company, Drivetrain Advisors, which is in the business of “assisting distressed companies”. Smith recently joined the Board which also includes Bob Weinstein one of the company’s co-founders. The Lantern purchase may yet be derailed if any number of the company’s creditors successfully objects in bankruptcy court. The only other bidder to go up against Lantern in the auction was Inclusion Media. Inclusion is headed by the Broadway producer, Howard Kagan, a former partner in the hedge fund Harbinger Capital. Inclusion Media’s bid was for $315 million total, with no additional funds offered to pay any part of the Weinstein Company’s debt which is said to exceed $100 million. During the auction, the Weinstein Company claimed that Inclusion’s bid was submitted after... --- - Published: 2018-06-11 - Modified: 2024-12-18 - URL: https://www.jayweller.com/chapter-11-bankruptcy-filings-770-as-of-march-2018-highest-in-7-years/ *** UPDATE *** (See prior article on this blog – “Chapters in Bankruptcy, a Short Primer... ”) The number of Chapter 11 (“reorganization” bankruptcy) filings has reached an all-time high since 2011. In that year, there were 789 Chapter 11 filings as the nation was still trying to recover from the “great recession” of 2008 – 2009. According to data from the American Bankruptcy Institute (“ABI”), the year-over-jump (that tracks the number of such filings in comparison to previous reporting periods) was the second highest to be recorded in any month since that recession. The December, 2017, year-over-jump was 366 filings – the year-over-jump for March of this year was 299. Chapter 11 bankruptcy is used primarily by companies to restructure its debt in bankruptcy court under the supervision of a bankruptcy Judge. Under this process, a company attempts to restructure its debt to allow it to satisfy a portion of the total for all creditors while, at the same time transferring all or part of its ownership from pre-bankruptcy owners to new creditor-owners. Secured creditors in a Chapter 11 case almost always come out ahead of non-secured creditors. Shareholders of the to-be-reorganized company and unsecured creditors usually wind up losing their total investments / owed debt, while secured creditors more-than-likely come out whole. The primary premise of Chapter 11 bankruptcy proceedings is for troubled companies to “shed” some overburdening debt and emerge from bankruptcy as a healthier, viable entity that has a “renewed” future. Historically, Chapter 11 filings “peak” in conjunction with the tax season in April. The low pointsusually occur toward the end of the year in December. In March of this year new Chapter 11 filings in the nation rose sixty-three percent (63%) year-over-year since March, 2017. That was the greatest number of filings since April, 2011. Many of the recent filings (2017 through the current period) have been traditional “brick-and-mortar” operations and some of the country’s most iconic retailers. The retail sector of the economy has been particularly hard hit in the past several years. Amongst the companies that filed for Chapter 11 protection in 2017 are: Toys ‘R Us (initially filed in September, 2017 with debt in excess of $4 billion. After a struggle to find a “financial angel”, the iconic retailer finally called it quits earlier this month and will liquidate and go out of business) Gymboree (filed in June, 2017, with the hope that reorganization would lower its existing debt by some $900 million, down from nearly $2 billion. The plan called for the closure of 370 stores all but wiping out its second-place standing (behind Toys ‘R Us) in the toy retail sector) Rue21 (the teen clothing retailer, with $1 billion in assets and nearly $10 billion in debt filed in May, 2017. Rue21 exited bankruptcy in September, 2017, with its future existence and viability still in substantial doubt) The Limited (shuttered all of its 250 ahead of filing for Chapter 11 protection in January, 2017. In the end, its remaining value... --- - Published: 2018-06-04 - Modified: 2024-12-19 - URL: https://www.jayweller.com/dodd-frank-title-xiv-mortgage-reform-and-anti-predatory-lending-act/ Mortgage Reform and Anti-Predatory Lending Act, amendment to the Truth in Lending Act (TILA), was brought about as a reaction to the lending practices that had lead to the burst of the real estate bubble in 2008. Many mortgages prior to the burst of the real estate bubble included clauses that were unfavorable to those who had borrowed the money. Some such clauses made it impossible to pay off mortgages where the value of the property dropped below the amount of the loan. Mortgage Reform and Anti-Predatory Lending Act established a duty of care, set minimum standards, established limits on high cost mortgages, and established the Office of Housing Counseling, among other things. Under the Mortgage Reform and Anti-Predatory Lending Act, all mortgage originators have a duty of care. Mortgage originators now must comply with regulations set forth by the Federal Reserve Board, to be able to comply they are required to be qualified, registered and licensed – as needed. To ensure that mortgage originators no longer steer borrowers towards loans they cannot hope to repay, mortgage originators are no longer allowed a percentage of the loan amount as compensation. Additionally, the Federal Reserve Board was given further authority over unfair and predatory loan terms. The minimum standards set forth by this act included loan requirements and addressed certain types of prepayment penalties. Mortgage originators must ensure that the borrower can repay the loan. This is done by evaluating several key factors including income (current and expected future income), credit history, and other factors. If there is a violation of the minimum standards, the borrower can use it to recoup damages. Additionally, certain disclosures must be provided to the borrowers for home mortgages. Mortgages are deemed “high-cost” if they exceed prime lending annual percentage rate by more than 6. 5 percentage points on the primary mortgage. Secondary and tertiary mortgages are deemed “high-cost” if their annual percentage rate exceeds prime by 8. 5 percentage points. Also, since balloon payments rapidly increase cost of such loans, they are prohibited under the Mortgage Reform and Anti-Predatory Lending Act. Creditors are required to establish an account to pay the property taxes, insurances and other necessary fees. Consumers can waive this, but they must receive certain disclosures outlining their responsibilities from the creditor. As an extension of this, mortgage loan servicers are governed by certain rules when it comes to obtaining insurance policies on the property without having a reasonable belief that the consumer has not properly maintained property insurance. Likewise, loan servicers must comply with other obligations listed in the Mortgage Reform and Anti-Predatory Lending Act, including responding to valid written requests without fees, prompt response to requests regarding errors in the allocation of payments, or failing to respond to requests regarding loan owners within 10 days. Before extending high-risk mortgage to a borrower, the lender must obtain an appraisal at the lender’s expense, without exerting undue influence on the appraiser doing the appraisal. Additionally, in order to protect current and future tenants,... --- - Published: 2018-05-28 - Modified: 2024-12-19 - URL: https://www.jayweller.com/exceptions-to-credit-counseling-course-requirement-in-bankruptcy/ One of the requirements for filing a petition with the Bankruptcy Court is to take a credit counseling course. Under Title 11 U. S. C. Section 521(b) debtors are require to file with the court a certificate from the approved nonprofit budget and credit counseling agency, which must have been completed within 180 days before the filing of your petition. The purpose of the credit counseling course is to tell you if you really need to file for bankruptcy or whether there is an alternativeoption available to the individual, such as an informal repayment plan. However, you may temporary waive the requirement of the credit counseling course if any of the following exceptions apply: The US Trustee or bankruptcy administrator determines that no courses are available in your district. The credit counseling course may be taken in person, over the phone or online, which makes this exception unlikely to happen. Also, you can obtain a list of U. S. Trustee approved credit counseling agencies from the Clerk’s Office or from the U. S. Trustee website. Incapacitated, disability or active military duty in a combat zone pursuant to 11 U. S. C Section 109 (h)(4). You may waive the credit counseling requirement for someone who is incapacitated due to incapacity, disability, or active military duty in a military combat zone. If you claim to be incapacitated, you must show that you suffer from a mental illness or impairment and not capable of understanding or making rational decisions about your finances. Disability means that you have a physical impairment that physically prevent you from completing the course by any of its available resources. “Exigent circumstances” exception. This exception allows an extension for you to obtain the required credit counseling after the filing of the casewhen you have to file bankruptcy immediately to avoid substantial, immediate harm. You must meet a three part test to claim exigent circumstances. First, you must describe the exigent circumstance meriting a waiver of the credit counseling requirement. Second, state thatyou have contacted an agency that provides the credit counseling coursebut wasunable to obtain the services within 7 days after contacting the agency. Third, the request must be satisfactory to the court. Yet, you will be required to complete the course within 30 days of filing bankruptcy, but the court, for cause, may grant additional 15 days depending on the circumstances of each debtor. The Debtor is not an Individual, 11 U. S. C Section 109 of the Bankruptcy Code defines who may be a Debtor in Bankruptcy. A municipality or a Corporation may be deemed not to be an Individual, and therefore, exempt from the Credit Counseling Certificate Requirement. If you file your petition without obtaining a credit counseling certificate and you do not qualify for any of these exceptions your case will be dismissed and you will not receive a discharge of your debts. Image credit: mohamed_hassan --- - Published: 2018-05-21 - Modified: 2024-12-18 - URL: https://www.jayweller.com/leveraged-buyouts-bain-capital-and-the-art-of-bankrupting-companies/ lev·er·aged buy·out ˌlev(ə)rijd ˈbīˌout/ - noun Plural noun: leveraged buyouts The purchase of a controlling share of a company by its management, using outside capital A leveraged buyout (“LBO”) is the acquisition of one company (or division of a “target” company) by another outside company using a significant amount of borrowed money to finance the acquisition. The purpose of a leveraged buyout is to allow companies to make very large acquisitions without having to commit a lot of upfront capital. The assets of the “target” are used as collateral for the loans taken out for the purchase by the acquiring company. This article will serve to give an overview of LBO’s - their history, their uses, misuses, and abuses - as well as relate their use in corporate “takeovers” to the venture capital firm,Bain Capital. Finally, this article will show the impact that a significant number of LBO’s have had on companies that have been driven into bankruptcy as a result of this “financing technique”. Characteristics Of Leveraged Buyouts: Analysts are unclear when the first leveraged buyout occurred, but it is generally agreed that bootstrap acquisitions(as LBO’s were knownin the early days) began in the years following the Second World War. Between that time and the early 1980’s, LBO’s were more of an obscure financing method - that was little used and not well understood. LBOs have become a common financing “tool”; as they became in the ‘80’s, ‘90’s and into the new century. In the years following the great depression, America’s corporate leaders were not of the mind or in the mood to have high corporate debt ratios. As a result, for the first three decades following the end of World War II, very few domestic companies relied on debt as a significant source of funding. In the early 1960’s, the focus was on building corporate “conglomerates” that saw the growth and expansion of such corporate empires as General Motors, General Electric, and a whole raft of defense-related giants. LBO’s did not start to take off as a source of acquisition financing until 1980. In that year, there were four leveraged buyout deals with an aggregate value of just $1. 7 billion total (an average of $425 million per transaction). Contrast that to the activity in 1988, a year that recorded four-hundred ten buyout deals with an aggregate value of $188 billion (an average of $458+ billion per transaction). 1988 was the high-point for leveraged buyouts – several factors combined in the ensuing years to make LBO’s less attractive, riskier and, thus, less of an option as before. According to a study done by the Center for Private Equity and Entrepreneurship (Tuck School of Business at Dartmouth University), between 1980 and 1988, private equity LBO funds raised in the neighborhood of $46 billion. Between 1988 and 2000, that figure stood at over $385 billion raised – an impressive 88% increase in LBO funds raised in just twelve years. The attractions of LBO’s as acquisition vehicles came about, in large... --- - Published: 2018-05-14 - Modified: 2024-12-18 - URL: https://www.jayweller.com/chapter-7-bankruptcy-clearwater-fl/ Chapter 7 of the Bankruptcy Code allows debtors to have their debts forgiven through liquidation. During this process, nonexempt assets are sold and the proceeds are distributed to creditors. Unlike Chapter 13 bankruptcy, where a debtor retains their property and pays back a portion of their debts, Chapter 7 bankruptcy discharges remaining debts so the debtor does not have to pay them. As the most common form of bankruptcy, Chapter 7 is also known as straight or ordinary bankruptcy. Chapter 7 bankruptcy is usually a voluntary process initiated by the debtor, although creditors may file an involuntary petition to force a debtor into bankruptcy under certain circumstances. Chapter 7 filings have declined a bit over the past few years and some of the most common reasons for filing involve unemployment, medical bills and divorce. A voluntary Chapter 7 bankruptcy can be filed by a single person, business organization, or married couple under one petition. Filing this petition is not free. Bankruptcy courts charge a $245 filing fee, along with a $75 administrative fee and $15 trustee surcharge. These fees can be paid in installments, but the final payment is due within 120 days of filing. It’s important that debtors pay these fees since failure to do so can get their case dismissed. Some debtors may qualify to have their Chapter 7 filing fee waived. Debtors are not required to hire an attorney to file for bankruptcy, but they do need to undergo credit counseling in the 180 days before filing their petition. In this petition, the debtor includes a list of schedules disclosing the amount of debt owed to each of their creditors, their current income and living expenses, and any property owned, both exempt and nonexempt. The debtor must include a certificate proving completion of credit counseling, proof of payments received from employers, and a copy of their tax return from the year before filing. Also required is confirmation that they are aware of the types of relief available through other forms of bankruptcy. It’s a federal crime to hide assets or give false information during bankruptcy proceedings, thus debtors must swear to the accuracy of their petition under oath. The petition for Chapter 7 can be dismissed if the debtor doesn’t provide the required schedules and documents listed above or if they fail to pay child support and alimony after filing. The petition can even be dismissed if the debtor is convicted of a violent crime and the victim files a motion to dismiss the bankruptcy petition. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 added new requirements to file for Chapter 7 bankruptcy. These include the credit counseling requirement mentioned above, and a “means test” intended to prevent abuse. Petitioners with higher incomes will often end up filing for Chapter 13 bankruptcy after completing this test, which compares a debtor’s household income to families of the same size in their geographic area. This determines whether their monthly income is above the median income. Debtors with... --- - Published: 2018-05-08 - Modified: 2024-12-19 - URL: https://www.jayweller.com/gibson-brands-inc-dba-gibson-guitars-files-for-chapter-11-bankruptcy-protection/ *** UPDATE TO PREVIOUS ARTICLE *** Ending months of speculation concerning the future of the once iconic guitar manufacturing company, Gibson Brands, Inc. , the parent of Gibson Guitars, filed for Chapter 11 Bankruptcy protection earlier this week. The Nashville, TN-based company is said to have in excess of $100 million in outstanding debt (some reports say that such figure is at least five times greater than the reported amount). In a statement released by the company on Tuesday, CEO Henry Juszkiewicz said, “We are working on refocusing, reorganizing and restructuring... Over the past 12 months, we have made substantial strides through an operational restructuring. We have sold non-core brands, increased earnings, and reduced working capital demands. ” One of Gibson’s “non-core brands” is an audio and home entertainment subsidiary that Gibson acquired from the multination technology firm Phillips in a $135 million deal in 2014. That brand will now be “wound down” according to one company official as part of the Chapter 11 restructuring. Gibson also owns several other musical instrument companies that are doing well despite the parent’s financial woes. Those companies are Ephphone, Kramer, Steinberger, Dobro and Baldwin. Annual revenues for the company have taken a dive over the past three years, falling nearly half a billion dollars in that short period. Gibson owes a ton of money to at least twenty-six suppliers and outside businesses (upwards of $500 million); a recent tightening of restrictions on the importation of Rosewood has further hampered the company’s core business and ability to deliver its traditional high-quality musical instruments. The restructuring plan that was filed in the U. S. Bankruptcy Court in Delaware earlier this week, provides that senior lenders – including Melody Capital Partners LP, K, KR Credit Advisors, and Silver Point Capital – will trade their outstanding debt for an equity interest in Gibson Brands, Inc. Such plans are fairly common in Chapter 11 proceedings, especially where creditors have both the interest and means in taking over a troubled company’s operations. Gibson’s guitar sales have seen a rebound in the past 12 months, even with the mounting problems and debt that it took on with its 2014 Phillips acquisition. Sales of Gibson electric guitars increased 10. 5% to $122 million in the period ending in January, 2018. The company sells more than 170,000 guitars each year in over eighty countries worldwide. Gibson has been in business since 1894 – it has factories in Memphis and Nashville, TN (manufacture of electric guitars) and Bozeman, MT (manufacture of acoustic guitars). CEO Juszkiewicz said that the return of Gibson to its core business will mean that it is winding down and phasing out the consumer electronics portion of its portfolio. The plan, according to Juszkiewicz is to formally liquidate its holdings in that subsidiary on April 30th of this year. Brian J. Fox, a managing director at Alvarez & Marsal has been selected to serve as the company’s chief restructuring officer. Fox, in the Chapter 11 filing said “... the company... --- - Published: 2018-05-07 - Modified: 2024-12-19 - URL: https://www.jayweller.com/chaptersin-bankruptcy-a-short-primer/ RE: CHAPTER 7, 11, & 13 BANKRUPTCIES This article is intended to provide background information on, and will discuss three chapters of the United States Bankruptcy Code – Chapter 7 (“liquidation” or “discharge” bankruptcy); Chapter 11 (“reorganization” bankruptcy); and, Chapter 13 (“wage-earner” bankruptcy). Chapter 7 Bankruptcy: Chapter 7 of the United States Bankruptcy Code provides for the sale of a debtor’s nonexempt property with the proceeds of sale being distributed among the debtor’s creditors. The process is called, “liquidation”. Chapter 7 bankruptcy is also known as “discharge bankruptcy”. Chapter 7 relief may be available to individuals, partnerships, corporations, or other types of business entities. In a Chapter 7 bankruptcy proceeding, there are two types of cases – an “asset case” or a “no asset case”. A “no asset” case is one where all of the debtor’s assets are exempt and/or subject to valid creditor liens. An “asset case” is one where there is available nonexempt debtor property that is subject to being sold or “liquidated” to satisfy creditors’ claims. The majority of Chapter 7 cases end up being “no asset” cases. In a Chapter 7 bankruptcy, the Bankruptcy Court exercises its authority over bankruptcy filers by a court-appointed outside official known as a “bankruptcy trustee”. While a bankruptcy trustee has several duties, the primary duty is to take measures to attempt a meaningful distribution of monies to the debtor’s unsecured creditors. . Once a Chapter 7 petition is filed with the bankruptcy court, an “automatic stay” goes into effect, immediately halting further collection efforts by most creditors. . The stay prevents most creditors from legally garnishing wages, seizing bank accounts, or seizing other assets such as an automobile or a home. Bankruptcy “exemptions” play an important role in a Chapter 7 proceeding by helping the trustee determine which property a debtor may retain. Some states, debtors are required to use the state’s exemptions, some States use the federal exemption and others give the option of using either the state’s exemptions or the federal exemptions. Fully-exempt non-bankruptcy federal exemptions include: retirement benefits (civil, foreign, or military service retirees, railroad workers, CIA employees, veterans, Social Security recipients, and Military Medal of Honor awardees); death and disability benefits (longshoreman, harbor worker, or government employee, and compensation for risk, hazard, injury, or death resulting from war); survivors’ benefits (lighthouse workers, certain judiciary employees, and those in military service). Additional, miscellaneous non-bankruptcy exemptions include: Debts incurred by a seaman while on a voyage and seaman’s clothing Military group life insurance proceeds Indian lands Homestead sale or lease proceeds Railroad worker unemployment benefits Military service member savings deposits (while on permanent duty outside of the U. S. ) A bankruptcy court may deny Chapter 7 bankruptcy discharge for several reasons, including a debtor’s failure to follow bankruptcy’s rules, procedures or an Order of the bankruptcy court. In Chapter 7 cases, debtors do not have automatic or absolute rights to discharge of debts. A creditor, a bankruptcy trustee, or the U. S. Trustee can object to the... --- - Published: 2018-04-30 - Modified: 2024-12-18 - URL: https://www.jayweller.com/connecticut-a-legacy-of-debt-and-the-possibility-of-chapter-9-bankruptcy/ The State of Connecticut ended the 2017 fiscal year on a note of financial doom. As of the end of December, 2017, the state had the most underfunded pension system in the nation with over $127 billion in government-worker pension liabilities and no viable plan to institute needed reforms. Public-Worker Pensions – The BIG Problem: Pension woes are not the state’s only problem that threatens the economy, but they are the worst. The problem is huge, made up of the following critical components: pensions for state workers, pensions for public school teachers, healthcare obligations for retired state employees and teachers and debt servicing for bonds taken out for capital projects. In just one year, Connecticut’s unfunded pension debt went from $99. 2 billion to $127. 7 billion, a net increase of 22% between 2016 and 2017. At the end of 2017, the massive pension system – made up of government workers, public teachers, and retirees from both groups – was only nineteen percent funded (or rather, 81% unfunded). Only the state of Alaska has a higher per capita pension debt-per-resident ratio than Connecticut; the debt for CT residents currently stands at $35,721 per person. Comparatively, a resident of Alaska’s share of their unfunded pension debt stands at $45,689 today. A 2017 study of state pension liabilities by the American Legislative Exchange Council (“ALEC”) found that Connecticut recently fell behind two of the worst states in the nation – Kentucky and Illinois – vis-à-vis financial straits caused primarily by their pension systems. Previously, those two states were at the bottom. Speaking mainly about issues of underfunding and bad investment strategies, the study’s co-author stated “These figures represent a history of pension fund mismanagement and an ongoing unwillingness to pursue meaningful reform. ” (emphasis added) Keep the foregoing quote in mind – we’ll apply its underlying thesis to Connecticut’s so-called “leaders” at a later point in this article. The percentage-of-funding levels vary widely from state-to-state. Wisconsin has the best-funded pension system in the nation at 61. 5% (some 18. 5% below the recommended minimum of 80% funding). Connecticut’s present fully-funded ratio figure is 19% (some argue otherwise, saying it’s more like 47% to 49%, but most agree the difference has to do with manipulating discount rates and other financial mumbo jumbo – the fact is, Connecticut is at a very low 19% and suffering because of it). Put another way, Connecticut’s funding is 61% shy of the recommended 80% standard that no state currently meets or exceeds. In 2016, the Democrat-heavy legislature, at the behest of the Democrat State Governor, Dan Malloy, lowered the discount rate as a part of refinancing the pension debt. Basically, they rolled-over the existing debt that extends payments on existing debt only out to 2046 (30 years hence) instead of crafting a plan to “stanch the flow” and “stop the bleed”. A textbook case of “leaders” “kicking the can down the road”. The pension problem in Connecticut (and, in all probability, in many other states) is two-fold:... --- - Published: 2018-04-30 - Modified: 2024-12-19 - URL: https://www.jayweller.com/rookie-bankruptcy-paralegal-anthony-rodriguez/ Episode 1: The Journey My name is Anthony Rodriguez. At age 33 I found myself barely making it in the San Fernando Valley located in the county of Los Angeles, California. Even making a decent income every year, I was still living paycheck to paycheck and struggling to make ends meet. Single, no kids and still struggling! I have nothing but love for California but I do not miss the struggle. In my opinion, there is no longer a middle class in Los Angeles. You are either living from paycheck to paycheck like I was or you are driving an expensive car with no financial stress. At the beginning of 2018 I decided that it was time for a fresh start. My entire family moved to Clearwater, Florida in 2015. My family and I have always been close as we have been through a lot together. I rounded up a few friends, said my goodbyes and began my adventure from Los Angeles, California to Clearwater, Florida. I drove approximately 2,575 miles across 7 states with my two cats Puma and Sparta. I chose to leave California at about two o’clock in the morning so I would not have to deal with all of the notorious and mind numbing Los Angeles traffic. Before I knew it, I was in Arizona. Shortly after that, I was in New Mexico just in time for the sun rise. Then I had to drive through Texas. I would have to say this was my least favorite part of the drive. It was the sheer size of the state and the hours it took to get across it. Driving across that monster of a state made me never want to go back to Texas for any reason. It was HUGE! Then I entered Louisiana. Louisiana was by far my favorite part of the drive. I did not realize how beautiful my surroundings were until the sun rose. It was 18 degrees and there was ice everywhere. Coming from sunny Los Angeles, California where the temperature rarely drops below 40 degrees, you could imagine my shock. Sleep was not fun as the temperature dropped to about 12 degrees at one point. I slept in my car with the cats. I made sure they were bundled up like little burritos. But without a doubt, Louisiana was absolutely beautiful and the best part of the journey. The trees and backwoods I was driving through were a spectacle in themselves. It did not even feel like I was in the same Country. After Louisiana came Mississippi and Alabama. It did not take more than a few hours to cross both states. Finally, I had arrived in Florida. There was no better feeling than seeing that sign that said “Welcome to Florida, the Sunshine State”. At this point, I had been driving for about 20 hours straight, with no sleep. I had to make a stop for gas and decided I would play a Lottery Scratcher. I won twenty dollars! I... --- - Published: 2018-04-23 - Modified: 2024-12-18 - URL: https://www.jayweller.com/chapter-9-bankruptcy-santa-cruz-ca-calpers-pension-crises/ The City of Santa Cruz, CA is one of the latest municipalities to fall into what some have called a “... disturbing trend that will end in a full-fledged pension crisis” across the breadth and width of the nation. Santa Cruz is a California coastal community of 65,000 residents situated some 75 miles southwest of San Francisco. The small city, home to the University of California at Santa Cruz, is heavily dependent upon year-round tourist trade and not much else in the way of economic support. As of June 30, 2013, the city’s unfunded pension liabilities stood at $131 million. The city then had 777 payroll employees and 882 retirees receiving pensions (most retirees were on the higher-cost Defined Benefit plan). Like many other California municipalities, Santa Cruz is grappling with the rising costs of pension and healthcare benefits for future and current public-sector workers and retirees. Likewise, the California state retirement system known as CalPERS (“California Public Employees Retirement System”) which is the primary umbrella organization that manages most state and municipal pension plans throughout California. In an article posted earlier on this blog (see TITLE 11, CHAPTER 9 BANKRUPTCY –MUNICIPALITIES & ISSUES OF UNFUNDED PENSION LIABILITIES) it was reported that: “... unfunded liabilities of state public pension funds increased by $433 billion over the past year and presently exceed $6 trillion... ”. The report continues, “Unfunded liabilities of public pension plans continue to loom over state governments nationwide. Absent significant reforms, unfunded liabilities of state-administered pension plans will continue to grow and threaten the financial security of state retirees and taxpayers alike. ” The situation with CalPERS is not dissimilar to the national trend in that the current long-term investment shortfall is over $300 billion and growing (the $300 billion figure includes the CalPERS “sister program”, CalSTRS). The annual pension contribution shortfall for the City of Santa Cruz is estimated at between $9 - $11 million (and growing). The present annual City pension contribution to CalPERS is pegged at $16 million – it is projected to double by the year 2025 to $32 million annually. A recent internal “financial status report” included a bombshell with regard to skyrocketing increases in health and retirement costs – in 2004, the cost was 28% of general fund salary costs; in 2015, those costs had risen to 43%; and, by the year 2020 those costs are projected to be 58% of salary. As with many cities, counties and states across the nation, the “pension crisis” in Santa Cruz was a long time in the making. A May 14, 2011, article in the Santa Cruz Sentinel titled “Pension Precipice: Pain and promise of public pensions” foretold the looming problem. In Santa Cruz (the City and the County), one in six pension-eligible workers are on the government payroll. The problems began with the economic recession of 2008 – 2009 and worsened over the years since. The countrywide dilemma facing Santa Cruz is part of a broader statewide problem that emerged after the economic crisis... --- - Published: 2018-04-16 - Modified: 2024-12-18 - URL: https://www.jayweller.com/public-sector-pension-plans-a-ticking-time-bomb/ According to a December, 2017, washingtonfreebeacon. com report “... unfunded liabilities of state public pension funds increased by $433 billion over the past year and presently exceed $6 trillion... ”. The report continues, “Unfunded liabilities of public pension plans continue to loom over state governments nationwide. Absent significant reforms, unfunded liabilities of state-administered pension plans will continue to grow and threaten the financial security of state retirees and taxpayers alike. ” Astonishingly, the $6 trillion in unfunded liabilities average approximately $18,676. 00 for every person in the United States. Alaska has the highest per capita unfunded cost per resident in the nation - $45,689. Other states in similar straits with Alaska include Illinois, Connecticut, Ohio and New Mexico. A look at unfunded state liabilities as a whole (unfunded pension debt and other debt), shows Texas, California, Ohio, New York and Illinois ranking as the five worst states in the U. S. Pension liabilities for many cities comprise much of the long-term debt that financially strapped governments have carried. The same is true for larger, more diverse entities such as the U. S. Territory of Puerto Rico. In May, 2017 (prior to two hurricanes that devastated the island and nearly wiped it off the map), the overall public debt that the Puerto Rican government was dealing with was in excess of $123 billion. Unfunded public pension liabilities accounted for over $50 billion (41%) of that total. In July, 2013, the city of Detroit, MI filed for Chapter 9 bankruptcy protection. At the time, it was the largest municipal bankruptcy filing in the history of the nation – total unpaid debt was estimated to be between $18 and $20 billion. Unfunded pension liabilities in the Detroit bankruptcy case were established at over $1. 6 billion. At the end of Detroit’s Chapter 9 case, city retirees lost $1. 3 billion in future benefits as a result of the confirmed bankruptcy reorganization plan. Detroit’s case is just the “tip of the iceberg” when it comes to the issue for other cities in the Wolverine state. Around the same time that Detroit was in bankruptcy, five other large Michigan cities were “under water” with regard to unfunded pension liabilities: Flint - $285 million; Lansing - $246 million; Warren - $207 million and Sterling Heights - $166 million. The cited figures represent only pension liabilities – the unfunded liabilities for the four cities total some $2. 5 billion. Much of these cities’ pension problems stemmed from the type of plans they offered to their employees. The Michigan cities with underfunded and unfunded pension liabilities all offered their employees Defined Benefit (DB) pension plans. In 2013, twenty cities in Michiganwere considered to be not underfunded – sixteen of the 20 offered Defined Contribution retirement plans. The differences between the two types of plans are considered by many to be a major reason why some cities are facing financial crises while others are not. Defined Benefit vs. Defined Contribution Pension Plans: The characteristics of a Defined Benefit pension... --- - Published: 2018-04-09 - Modified: 2024-12-19 - URL: https://www.jayweller.com/winn-dixie-to-close-94-stores-parent-company-to-file-for-chapter-11-bankruptcy/ Florida-based Southeastern Grocers – the parent company of the Winn-Dixie grocery chain – announced yesterday that it will file for Chapter 11 bankruptcy by the end of March. Southeastern said it is “... implementing a court-supervised, pre-packaged” debt restructuring agreement after “conducting a thorough review of options for reducing our current debt”. The company expects to reduce current outstanding debt by approximately $500 million. In addition to Winn-Dixie, Southeastern Grocers also operates stores under the brand identities of BI-LO, Fresca y Mas and Harvey Supermarket with a total of 582 grocery outlets across the South. The bankruptcy announcement also included news that ninety-four (94) Southeastern stores, thirty-five under the Winn-Dixie brand, will be closed in Alabama, Georgia, Florida, North Carolina, South Carolina, Louisiana and Mississippi. Thirty-five (35) of the Winn-Dixie closures will be in Florida, with Tampa having six of the 35 (5 Winn-Dixie and one Harvey’s) according to a report in the March 15th edition of the Tampa Bay Times. The Tampa Bay Winn-Dixie closures include: 2525 North Dale Mabry Highway,4317 Gandy Boulevard, 2525 East Hillsborough Avenue (a Harvey’s Supermarket), 6180 U. S. 41 Apollo Beach, 7625 Blind Pass Road, St. Pete Beach (Pinellas County) and 2126 Collier Parkway, Land O’Lakes (Pasco County). The current bankruptcy case will not be the first for Southeastern Grocers – it has filed for bankruptcy protection several times since 2005. The company has also had many store closures and employee layoffs during that same period. Southeastern CEO Andrew Hucker said “The agreement we announced today is an important step in Southeastern Grocers’ transformation to put our company in the best position to succeed in the extremely competitive retail market in which we do business. ” It was unclear, as of Friday (March 16th) what the closure timetable will be. The company statement added that it “... hopes to work through this process as quickly and as efficiently as possible within the next ninety days... ”. Winn-Dixie History: The Winn-Dixie grocery store chain is headquartered in Jacksonville, FL. The company traces its history back to 1925, when it began operating as a one-store grocery under the name of Rockmoor Grocery. In 1927, the founder, William Davis (and his four sons) renamed his fledgling enterprise Table Supply and began acquiring additional properties under that name. Over the years between 1927 and 1939 the company grew slowly with new acquisitions and store openings in Florida. In 1939, Davis’s surviving sons purchased a 51% interest in a growing chain of seventy-three stores named Winn-Lovett (which it merged under that name with its existing Table Supply chain). In the decade that followed its 1939 move, the Davis family purchased two additional regional grocery store chains – the Steiden Stores chain of 31 stores in Kentucky and the Margaret Ann Stores chain with 46 stores in Florida. In 1952, Winn-Lovett went public, becoming the first Florida-based industrial corporation to be listed on the New York Stock Exchange. Acquisitions continued in the four following decades, with growth as follows: 1955:... --- - Published: 2018-04-02 - Modified: 2024-12-18 - URL: https://www.jayweller.com/puerto-rico-bankruptcy/ The island of Puerto Rico is officially a Commonwealth of the United States. Puerto Ricans are citizens of the United States who share many of the same rights and benefits of their fellow citizens living on the mainland. Until February, 1898, Puerto Rico had been under the colonial rule of Spain for centuries. In that year and month, Spain granted them a quasi-independent status. The welcome status under the rule of the Spanish Kingdom came with a constitution, voting rights, and a theretofore unknown sense of freedom. The causes of the short- lived war were three-fold: Cuba’s push forindependence from Spain; growing American imperialism in the region and in other areas around the world; and, Spain’s sinking of the U. S. Battleship Maine in Havana Harbor. The Spanish-American War was one of the shortest ever waged by the United States. Active war lasted just five months – from April to August, 1898. The Spanish-American War formally ended with the signing of the Treaty of Paris on December 10, 1898. Under the terms of the treaty Spain: Ceded Guam and Puerto Rico to the United States Renounced any and all claim of right to Puerto Rico Was paid $20 million to transfer sovereignty of the Philippines to the United States. Short-lived war, indeed... long-term consequences, however, for Puerto Rico and the Puerto Rican people. Between the end of the Spanish-American War and the beginning of World War I, Puerto Ricans were all-but-stateless people – no citizenship, no passport, no real freedom from Spanish rule, no legal standing under the United States system. That “condition” of the Puerto Rican people lasted some nineteen years between the signing of the Treaty of Paris and the enactment of the Jones-Shafroth legislation. In March, 1917, President Woodrow Wilson signed the Jones-Shafroth Act under which Puerto Rico became a U. S. Territory and the Puerto Rican people became statutory U. S. citizens (statutory citizenship is granted by act of Congress, not the Constitution – the difference is significant because constitutional citizenship - “natural born” citizenship -has the protection of the constitution, whereas statutory citizenship does not and can, presumably, be removed by a subsequent act of Congress). A major political reason for granting Puerto Ricans the form of “citizenship lite” by statute was so that Puerto Rican men could be conscripted into the war effort (WW I) on behalf of the United States. Under the terms of the Jones-Shafroth Act, Puerto Ricans retained their Puerto Rican citizenship when they became American citizens. While poverty has been the millstone around the necks of Puerto Ricans for at least the past two or three centuries, the roots of its perpetual financial crises are of more recent origin. While the Jones-Shafroth Act of 1917 may have been a positive move in some regards, – e. g. granting Puerto Ricans a form of U. S. citizenship – it also contained several unseen negative stipulations that have not redounded to the long-term benefit of the island. One such stipulation was the... --- - Published: 2018-03-27 - Modified: 2024-12-19 - URL: https://www.jayweller.com/the-weinstein-company-files-for-chapter-11-bankruptcy-after-5-month-delay/ ****** MARCH 20218 UPDATE ****** BREAKING NEWS THE WEINSTEIN COMPANY FILES FOR CHAPTER 11 BANKRUPTCY AFTER 5-MONTH DELAY The Weinstein Company – founded by embattled movie mogul Harvey Weinstein and his brother Bob Weinstein in 2005 – has officially filed for Chapter 11 bankruptcy in a Delaware bankruptcy court. Media reports indicate that the filing occurred late in the day on Monday, March 19th. Former company Chairman Harvey Weinstein has been under fire for serial assault, sexual harassment and rape that allegedly occurred over the course of decades. The accusations, found to be credible by many sources, led to Weinstein’s legal troubles and to the near-demise of a once formidable company in the movie industry. The bankruptcy petition lists both assets and liabilities at somewhere between $500 million and $1 billion. The financial stability of the company has been a source of speculation since the sordid story of sexual misconduct and strong-arm tactics by Harvey Weinstein broke into the headlines late last year. The filing also included sparse details of a deal – characterized as a “stalking horse” agreement - that may have been struck with Lantern Capital Partners to purchase the assets of The Weinstein Company. A report earlier today carried by Reuters says “The (Lantern Capital) offer will set the floor for higher and better bidders in a court-supervised auction”. An unnamed source told Variety “... the Lantern Capital deal falls in the range of $300 to $320 million... ”. Another source pegs the agreement to purchase the company’s assets at $450 million, and notes “... other bidders are likely to emerge. ” Either way, those sums are speculative at this point and fall well short of the $500 million to $1 billion estimates. The embattled company has spent the past several months seeking a buyer – one deal fell through when the prospective buyer discovered that its target company has far more liabilities than it had originally disclosed. Earlier offers to acquire some of the assets of The Weinstein Company came from Lions Gate Entertainment and Qatar-owned Miramax the company that was formerly owned by The Disney Company and founded by the Weinstein brothers in 1979. Both Lions Gate and Miramax are seen as potential bidders in the court-supervised auction. A Weinstein Company press release announced that the company had formally released all current company employees from non-disclosure agreements previously demanded of them. The company statement added, “Nobody should be afraid to speak out or be coerced to stay quiet... Your voices have inspired a movement for change across the country... ”. Photo credit: Wikipedia --- - Published: 2018-03-21 - Modified: 2024-12-19 - URL: https://www.jayweller.com/harvey-weinstein-the-weinstein-company-chapter-11-bankruptcy-in-the-offing-as-sale-talks-fail/ “Born under a bad sign, been down since I began to crawl if it wasn’t for bad luck, I wouldn’t have no luck at all... ” (“Born Under a Bad Sign” -Original Version, Albert King, 1967; covered by Cream, 1968) Today, Albert King’s song might seem like the “anthem” of (former) movie mogul Harvey Weinstein, and, by extension, his former corporation The Weinstein Company LLC (more universally referred to, and known more simply as TWC). According to online news / gossip source TMZ. com, The Weinstein Company - after months of turmoil, scandal, lawsuits, speculation, accusations, and rumors - took formal action to file for Chapter 11 Bankruptcy in Los Angeles, CA. The online source is quoted as saying, “It was almost inevitable... (TWC) has filed for bankruptcy after hemorrhaging assets and facing multiple lawsuits in the wake of the Harvey Weinstein scandal”. Various forms of media were abuzz with speculation that TWC was on the verge of a bankruptcy filing. The rumors follow the collapse last weekend of negotiations for the sale of the company. Until late last week, TWC had been in sale talks with an investor group considering an offer of $500 million for the company. In March and February, 2018, Maria Contreras-Sweetwas part of a consortium of investors attempting to purchase a controlling interest in TWC. Contreras-Sweet, a former head of the Small Business Administration (SBA) during the Obama presidency, teamed with Ron Burkle, a U. S. Billionaire with a present net worth estimated to be $2 billion. Burkle is listed as #633 on Forbes’ list of “The Richest People on the Planet 2014”. Burkle also has a close personal history and long-running ties to TWC co-founder Harvey Weinstein. Harvey Weinstein, along with his TWC partner and younger brother Bob, were born (March, 1952, and October, 1954, respectively) in the Flushing section of the New York City borough of Queens. The brothers are of Jewish ancestry and second-generation grandchildren of Polish Immigrants. Their father Max was a diamond cutter, their mother Miriam a homemaker. Harvey and Bob grew up in the Electchester housing co-op and attended the nearby John Bowne High School. After completing High School, Harvey attended The State University of New York (SUNY) at Buffalo, graduating in 1973. During most of the 1970’s, Harvey, along with his brother Bob and another partner named Corky Burger, owned an independent concert promotion company located in Buffalo, NY, Harvey and Corky Productions. Their company (later renamed Harvey, Corky & Tice Productions when legendary promotor Eddie Tice was added to the partnership in the late ‘70’s) was responsible for promoting and producing most of the major concerts in Buffalo throughout that decade. After selling their interest in the Buffalo concert-promoting company in 1979, the Weinstein brothers co-founded Miramax Films(Miramax). The new company, named after their parents Miriam and Max, began in 1979 with the profits from their former business. Miramax started as a small independent film distribution company. It quickly became a leading independent film, motion picture distribution,... --- - Published: 2018-03-19 - Modified: 2024-12-18 - URL: https://www.jayweller.com/hcr-manorcare-inc-7-billion-in-debt-files-for-chapter-11-bankruptcy/ HCR Manorcare, Inc. , the second largest nursing home operator in the United States, has filed a voluntary petition for Chapter 11 Bankruptcy. The Toledo, Ohio-based company has $7 billion in debt. . Informed sources say the Chapter 11 petition is part of a pre-arranged debt-for-equity swap deal whereby ownership of the HCR will be transferred to its landlord, Quality Care Properties, Inc. (“QCP”). According to the QCP website, the company is “... a self-managed and self-administered real estate investment trust (REIT)... focused on post-acute/skilled nursing and memory care/assisted living properties. ” QCP claims to be “... one of the nation’s largest actively-managed real estate companies. ”QCP is located in twenty-seven states. Its holdings include 257 post-acute/skilled nursing properties, 61 memory care/assisted living properties, a surgical hospital, and a medical office building. HCR Manorcare (“HCR”) is a privately-owned company in the state of Delaware where the Chapter 11 filing took place earlier this week. Majority ownership of HCR was acquired by The Carlyle Group in 2007. The Carlyle Group is a multinational private equity, alternative asset management, and financial services corporation founded in Washington, DC in 1987. Carlyle is the world’s largest private equity firm according to a ranking known as the PEI 300 (the ranking was based on capital raised in the preceding five years). The business structure of The Carlyle Group is composed of four major segments: Corporate Private Equity: Carlyle division that is focused on investing primarily in leveraged buyouts and growth capital transactions via a range of geographically focused investment funds; division advises twenty-three “buyout” and ten growth capital funds, with $73 billion Assets Under Management (“AUM”) (*); Real Assets: Carlyle division that advises eleven U. S. and Internationally-focused real estate funds, two infrastructure funds, two power funds, an international energy fund, and four Legacy Energy funds, with $43 billion in AUM (*); Global Credit: Carlyle division that advises fifty-eight funds that seek out investment opportunities across distressed and special situations, direct lending, energy credit, loans and structured credit, and opportunistic credit, with approximately $33 billion in AUM (*); Investment Solutions: Carlyle division that includes Alpinvest Partners (global private equity) and Metropolitan (real estate) “fund of funds” programs and related co-investment / secondary undertakings through fund vehicles, with approximately $46 billion in AUM (*) (*) All noted Assets Under Management (AUM) figures (approximately $195 billion) are quoted as of December 31, 2017 The Carlyle Group has been highly successful and profitable in its thirty-one-year history, but not without controversy. The following two examples highlight some of the controversy. The company is a major focus in the 2004 documentary Fahrenheit 911 by filmmaker Michael Moore. The film takes a highly critical look at the presidency of George W. Bush, the so-called “War on Terror”, and coverage of both in the U. S. “corporate media”. In the documentary, Michael Moore looked into the company’s close and controversial connections to former-President George H. W. Bush and his former-Secretary of State James Baker. Both the Senior Bush and Baker have... --- - Published: 2018-03-13 - Modified: 2024-12-18 - URL: https://www.jayweller.com/remington-outdoor-co-remington-arms-set-to-file-chapter-11-bankruptcy/ Iconic arms manufacturer Remington Outdoor Company (operated for nearly two hundred years as the Remington Arms Company) is on the brink of filing a voluntary petition for Chapter 11 bankruptcy. Remington Outdoor is headquartered in Madison, NC. The company’s original intent was to begin solicitation for the plan on March 5, 2018, with the bankruptcy filing to follow on March 7th. Those dates were set back one week (March 12th for start of solicitation and March 14th for filing for Chapter 11 protection) after Bank ofAmerica backed away from a key financial role in the reorganization plan. Current Ownership of Remington Outdoor: The Remington Outdoor Company was purchased by Cerberus (*) Capital Management in 2007. Cerberus Capital Management is headquartered in New York City. The company’s website describes the company as “... a private investment firm... with affiliate and advisory offices across the United States, Europe and Asia... ”. The firm is led by CEO Steve Feinberg, the co-founder of the company along with William L. Richter. Richter serves as the company’s Senior Managing Director. Company CEO Feinberg is a graduate of Princeton University. Some accounts depict Feinberg as a business innovator and an astute business man “... with a ‘colored past’... ”. (emphasis added) In his early career, Feinberg worked for the now-defunct investment bank Drexel Burnham Lambert (“DBL”). In February, 1990, DBL collapsed and was forced into bankruptcy, primarily because of the illegal activities of trader Michael Milken (the “junk bond king”). Milken, head of DBL’s bond department in the 1980’s, eventually pled guilty to securities fraud. Milken paid some of the largest fraud-related fines levied until that time and was sent to prison for two years. Friends of Feinberg have reportedly said that “his association with Drexel Burnham, the way the company foundered and folded, is carried by Steve like a ‘stain’... ”. Other noteworthy companies owned by Cerberus include: Aozora Bank; GMAC Financial Services; North American Bus Industries; BlueLinx; Tower Automotive; Peguform Group; and Spyglass Entertainment In the Summer of 2007, Cerberus agreed to buy the world’s largest equipment rental company, United Rentals, Inc. (“URI”). Because of worsening credit markets at the time, Cerberus attempted to cancel the acquisition and offered to pay United Rentals a pre-negotiated “reverse termination fee” that was a part of their agreement. United sued for specific performance of the acquisition agreement... and... lost. The Court ruled in Cerberus’ favor, writing in its ruling “... URI knew or should have known what Cerberus understanding of the merger agreement was... ”. In May, 2007 Cerberus purchased control (80. 1%) of Chrysler automotive, paying $7. 1 billion to Daimler-Benz. Cerberus was a “proud owner” of Chrysler until the economy took a nose-dive in 2008 – 2009. In the Spring of 2009, Chrysler was forced into Chapter 11 bankruptcy. In June of that year, the bankruptcy court ruled that Cerberus had to sell all of its assets to Italy’s Fiat automotive. Cerberus’ investor clients were unnerved enough to draw away. As a result, seventy-seven percent... --- - Published: 2018-02-28 - Modified: 2024-12-18 - URL: https://www.jayweller.com/gibson-guitar-bankruptcy-something-to-fret-about/ Numerous reports circulating in the past several days point to ominous signs for the future of iconic guitar maker The Gibson Guitar Company(known since 2013 by its current corporate name, Gibson Brands, Inc. ). Many of the recent reports center on the company’s bond and loan debt that carry significant payments that are imminently due in 2018. The Nashville, TN companywas founded by Orville Gibson toward the end of the 19th century. Initially, Orville Gibson built and sold single-piece mandolins - on which he held a patent granted in 1898 - from a one-room workshop in Kalamazoo, MI. His patented mandolins were more durable than others manufactured at the time and werealso capable of being manufactured in volume. Until Orville Gibson’s death in 1918, the company manufactured and sold only the original patented mandolins. In 1919, the product line was expanded to include the original “archtop guitar”. The F-5 Gibson mandolin was introduced in 1992, preceded by electric instruments such as the ES-150 “Electric Spanish” model (1936) and other electrified instruments that included banjos, steel guitars, and mandolins. Today, in addition to instruments made under the Gibson logo, the company also owns and manufactures instruments under other brands such as: Epiphone; Kramer; Maestro; Steinberger; and, Tobias. Gibson Brands also owns such companies as Kalamazoo; Dobro; Valley Arts; Slingerland; and, Baldwin (Baldwin, in turn, is the parent of Chickering; Hamilton; and, Wurlitzer). The Gibson Mandolin-Guitar Manufacturing Company, Ltd. was incorporated in 1902. Over the years, ownership of Gibson has changed several times. The company was purchased by Chicago Musical Instruments (CMI) in 1944. In 1969, CMI sold its holdings to a South American company, Ecuadorian Company Limited (E. C. L. ) – later the Norlin Corporation. Today, Gibson is a privately held corporation under the ownership of Chief Executive Officer Henry Juszkiewicz and President David Berryman who acquired their interests in 1986 from E. C. L. Rumors of financial difficulties have been circulating for some time. Last year, the company stopped further development of its “Cakewalk” music software and sold its Memphis, TN factory. Additionally, Gibson recently gave up its Nashville, TN warehouse which it had occupied for more than thirty years. These moves signaled to industry analysts that something ominous might have been afoot. In a recent report, one analyst said, “Over the years, Gibson has expanded into products and categories that haven’t performed well. Their debt has mounted and they may be running out of time – rapidly. ” Gibson Brands’ revenues exceed $1 billion annually. The company’s debt has proven to be so burdensome in recent years that such revenues – along with the expansiveness of its family of brands and associated businesses – are not sufficient to service the debt. The company’s most crucial immediate problem that may be signaling bankruptcy focus on looming debt payments that are due in late July of this year – a debt payment on $375 million in senior secured notes comes due on July 23, 2018. Failure to make that payment,... --- - Published: 2018-02-28 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bon-ton-stores-inc-demise-or-new-lease-on-life-after-chapter-11-bankruptcy-filing/ Earlier this week, The Bon-Ton Stores, Inc. took its multi-chain brand of department stores into Chapter 11 bankruptcy. The action makes the regional chain of department stores the largest retailer to seek such protection this year. CNBC reported, in the immediate aftermath of the Chapter 11 filing,that the chain “... has been burdened with massive debt as it has struggled to grow sales and move operations online in the face of Amazon”. In 2017, approximately twenty major retail chains, including The Limited, Radio Shack, Hhgregg, Gordman’s, Gymboree, Payless ShoeSource, andthe toy-retailing giant Toys R’ Us, to name just a few of the more recognizable brands, filed for bankruptcy protection. In the year prior (2016), several other highly recognizable, traditional “brick and mortar” retailers filed for bankruptcy – those included, amongst others,Aeropostale, Sports Authority, American Apparel, and Pacific Sunwear. Market analysts point to changing consumer taste preferences, changes in shopping behavior and a growing turn to online shopping instead of more traditional methods, as a probable reason for the recent upsurge in retail bankruptcies. According to one recent report on CNBC, “Changes in shopping behavior and the need for speed offer some of the reasons why the landscape (in the retailing sector) has evolved so rapidly. At many malls across America, foot traffic is on the decline as online shopping surges. Internet behemoth Amazon’s encroaching presence is on the minds of many, forcing retailers to either beef up their own digital operations, or risk falling behind... ”. Given the number of retailers - some of whom are iconic (think Toys R’ Us) while others may be leaders in their respective sectors (such as Radio Shack and Sports Authority) - seeking bankruptcy protection in the past few years, it might be productive and instructive to take a fairly “deep dive” into the history and background of the most recent Chapter 11 filer – The Bon-Ton Stores, Inc. – to see if, perhaps, “the handwriting is on the wall”, so to speak, for other retail chains who have not yet come to the point of seeking bankruptcy protection. As with newspapers, in the last several years, blaming craigslist and its founder Craig Newmark for their woes and failures, one is left to wonder if the bankruptcies, failures, and restructurings plaguing the retail industry can be laid at the doorstep of Amazon and its founder Jeff Bezos? One might ask, could the pattern of growth and expansion of Grumbacher and Sons, over the years, through acquisitions, purchases, and so on into The Bon-Ton, Inc. period, hold a clue as to why this particular company is now engaged in bankruptcy and a fight for its corporate “life”? Is there something internal – stupid mistakes, critical errors, mismanagement, etc. – that brings The Bon-Ton to this juncture in its corporate existence? Or, are significant changes that started, roughly, in the last quarter of the twentieth century- changes in markets and marketing, in methods and methodology, in how retail is “done” in the twenty-first century –now taking... --- - Published: 2018-02-26 - Modified: 2024-12-18 - URL: https://www.jayweller.com/home-owners-association-dues-in-bankruptcy/ Homeowners’ Associations are a fact in Florida, from the Deed-Restricted Communities to the Condominium Associations and Co-ops, many Floridians pay Monthly, Quarterly or Yearly Assessments to enjoy the benefits of architectural uniformity, common grounds maintenance and security. Adhering to community standards in turn helps maintain the appeal of the development, thereby increasing property values, and leading to happy homeowners. But sometimes, homeowners fall behind in their dues. This is a brief overview of how these back fees and assessments are treated in Bankruptcy. What is a Home Owners’ Association? A homeowners’ association, (HOA), is defined by Black’s Law as:1. An association of people who own homes in a given area and have united to improve or maintain the area’s quality. 2. An association formed by a land developer or homebuilder to manage and maintain property in which the builder and developer own an undisputed common interest. 3. Homeowners’ associations – which are regulated by statutes in many states- are commonly formed by restrictive covenant or a declaration of restrictions. Florida Statutes provides that “Homeowners’ association” or “association” means a Florida corporation responsible for the operation of a community or a mobile home subdivision in which the voting membership is made up of parcel owners or their agents, or a combination thereof, and in which membership is a mandatory condition of parcel ownership, and which is authorized to impose assessments that, if unpaid, may become a lien on the parcel. The term “homeowners’ association” does not include a community development district or other similar special taxing district created pursuant to statute. Typically, an HOA will be governed by a Board of Directors consisting of homeowners in the development. They will then have committees that carryout specific functions, such as architectural review for any improvements that homeowners wish to make to their property. They also govern the compliance of the homeowners to the Deed Restrictions and Covenants, to maintain the overall appearance of the community, and ultimately to enhance property values throughout the community. The Board will convene an annual meeting of the homeowners, at which time an annual budget is presented for the next year, and dues are assessed. The HOA will collect Dues on a monthly, quarterly, or annual basis. As noted above, failure to pay the dues and other assessments can lead to the HOA placing a lien on the property, and the HOA can foreclose to collect monies owed, as well as interest at a rate provided in the covenants, administrative fees,(if authorized by the covenants), fees incurred in preparing the notice, (i. e. certified mail expense), and reasonable attorney’s fees. The homeowner, then has 45 days to pay the amounts owed. History HOAs have been around since the 19th century, and, as the HOATown notes, several factors influenced their growth in the 1970’s including a push to large scale residential development by the FHA and the Urban League, an increasing cultural preference for architectural uniformity, a shortage of land which required higher density construction, and FHA authorizing... --- - Published: 2018-02-19 - Modified: 2024-12-19 - URL: https://www.jayweller.com/itt-tech-an-epic-failure-on-many-levels/ Many people in the United States would be surprised to learn that the profit motive in “higher education” is not something that just magically appeared during the second half of the 20th century. A large number of for-profit colleges, institutes, and “universities” were founded in the decades after the end of the Second World War. Having “profit” as a motive for setting up and operating for-profit schools, however, had its genesis in the United States long before the 20th century; the roots of for-profit education can be traced all the way back to the Colonial era before the 13 original colonies were formed into states that, taken together, became the union that we know today as the “United States of America”. “For-Profit Education” - historical perspective in a nutshell According to author Richard Ruch, (see “Higher Ed, Inc. : The Rise of the For-Profit University”) in the earliest days of the Colonial era there were insufficient places for people to get a formal education, so business men established for-profit schools where trades, as well as the “three R’s” (reading, writing, and arithmetic) were taught. Ruch writes: “Many of these were clergy who weren’t paid very much and had to supplement their income”. In that era, Clergy were amongst the educated and, according to Ruch, “... they would offer classes in their homes or in the parsonage or in the church and charge a fee”. Ruch points to one of the “founding fathers” of the Republic, Benjamin Franklin, as an “early champion... ” of for-profit schools, pointing out that, “Franklin himself was largely a product of self-education and the system of apprenticeship brought over from Europe. ” In those early days, Franklin and other supporters of for-profit schooling were “constantly fighting ‘Latinists’ whose ideas about education were based on the British models of Cambridge and Oxford”. As stated with alacrity in Ruch’s book, “The early American colleges devoted themselves almost entirely to the teaching and study of theology, Greek and Latin languages, classical literature, and philosophy. ” In short, more practical subjects like basic agriculture, surveying, and the like were not being taught to the “common man” and education, then, was reserved for a “higher” class of individual. According to Ruch, “In 1723, nearly sixty percent of the books in the Harvard College library were about theology... ” and, “... only two books (in the library) were about commerce. ”. Benjamin Franklin was one of the earliest proponents for “... a new approach to education”. In a nascent nation struggling to develop and find its place amongst more established countries and cultures, Franklin wanted people to be trained in trades that would help foster and build a vibrant economy. As noted by author Ruch, Franklin, complaining about his contemporaries and their approach to education, “... lamented in his journals... ” of “... and unaccountable prejudice in favor of ancient customs and habitudes”. Teaching such subjects as navigation, surveying, and agrarian agriculture, to name a few, for-profit schools were themselves a product... --- - Published: 2018-02-12 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-layoffs-and-likely-sale-the-fate-of-a-pulitzer-prize-winning-newspaper/ One of West Virginia’s oldest newspapers, the Charleston Gazette-Mail announced on Monday, January 29, 2018, that a Chapter 11 Bankruptcy filing “is imminent”. The actual filing of bankruptcy pleadings has not been confirmed. Informed sources say the plan was to file the requisite Chapter 11 bankruptcy paperwork on Tuesday, January, 30th. If a Chapter 11 filing is commenced, West Virginia’s largest newspaper could be sold coming out of bankruptcy or otherwise liquidated. The report of the pending bankruptcy filing included news that the parent company of the newspaper, Charleston Newspapers, issued a “WARN” notice to all newspaper employees on Monday, January 29th. Such notices are issued pursuant to The Worker Adjustment and Retraining Notification Act of 1988 (the “WARN Act”). The act was passed in August 1988 and became effective in February, 1989. The WARN Act operates to protect employees, their families and communities by requiring most employers with 100 or more employees to provide sixty (60) calendar days advance notice to employees of the closing of operations in a business, or of mass layoffs. According to a Gazette-Mail press release, the newspaper presently has a roster of 209 employees including journalists, production and distribution workers, and administrative staff. On the list of employees who received the WARN Act notification is Journalist Eric Eyre. Eyre won a prestigious Pulitzer Prize in April, 2017, for his investigative reporting on West Virginia’s opioid crisis. Gazette-Mail Publisher Susan Chilton Shumate, said in a letter to the paper’s employees: “The Gazette-Mail has been my family’s passion for the last century... To follow in the footsteps of Ned Chilton, my father, and Betty Chilton, my mother, as publisher of the of this paper has been a tremendous honor for me and my family. At the end of this process, we will be letting go of that passion. ” Chilton Shumate’s husband is Trip Shumate, the President and Chief Financial Officer of Charleston Newspapers, the parent company of the Charleston Gazette-Mail and the entity that plans to file a Chapter 11 bankruptcy petition. The last line of Chilton Shumate’s letter to the paper’s employees “might be”, according to one commentator,“... an early signal that the Chapter 11 reorganization plan may include the sale of the Gazette-Mail to new ownership interests. ” According to recent reports, the newspaper said buyers are actively being sought. Other reports emerging in the past several days reveal that, at present, the highest bidder appears to be a West Virginia newspaper conglomerate, the Wheeling, West Virginia-based Ogden Newspapers. Ogden Newspapers reportedly owns over forty (40) newspapers across the nation, with an unknown number of those in the state of West Virginia. Ogden has newspapers in Wheeling, Elkins, Martinsburg, Weirton and Parkersburg, West Virginia. Ogden Newspapers was started as a family business by the Nutting family of West Virginia. Robert Nutting, a fourth-generation family member, is the President and CEO of the newspaper enterprise. The Nutting family are also the current owners of the Pittsburg Pirates major league baseball team and the Seven... --- - Published: 2018-01-30 - Modified: 2024-05-30 - URL: https://www.jayweller.com/bankruptcy-assistance-in-clearwater/ 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, and Credit Repair. Jay Weller founded Weller Legal Group in 1993, and quickly grew to seven offices throughout Florida, including Miami, Orlando, Tampa, Lakeland, Clearwater, Bradenton/Sarasota, and Port Richey, Florida. Currently, Weller Legal has four offices including Clearwater, Port Richey, Lakeland, and Brandon, Florida. These offices cover what is designated the Middle District of Florida, Tampa Division of the US Bankruptcy Court. By maintaining these offices we are able to provide assistance and representation to our many Clients in Bankruptcy Proceedings. The Counties that comprise the Middle District of Florida, Tampa Division include Pinellas, Pasco, Hernando, Hillsborough and Pasco Counties. Our law offices are usually conveniently located near to where our Clients live or work. If you need Bankruptcy Assistance or Representation in Bankruptcy Proceedings or are interested in our many programs that alternatives to bankruptcy, please contact Mr. Weller by either calling 1-800-407-3328 (DEBT) or by contacting Mr. Weller through our website. With almost a quarter century of service and assistance to the greater Tampa region encompassing the Middle District of Florida, Tampa Division, Weller Legal Group is dedicated, knowledgeable, and experienced in most matters related to Bankruptcy Law and Practice. Help and Assistance in Bankruptcy and other debt related issues are available here at Weller Legal Group. The Bankruptcy Attorneys, Lawyers, and Paralegals are dedicated to helping you in these difficult financial times. Help and Assistance is here. At Weller Legal Group, if you are in debt, we can help. Thank you. --- - Published: 2018-01-08 - Modified: 2024-12-18 - URL: https://www.jayweller.com/chapter-13-bankruptcy-protection-of-tax-refund-the-matter-of-in-re-gibson/ In Chapter 13 Bankruptcy the Chapter 13 Bankruptcy Trustee will often attempt to seize or attach the tax refund of the Chapter 13 Debtor. The position of the Chapter 13 Trustee is that the tax refund received by the Debtor is additional disposable income that ought to be contributed to the Chapter 13 Bankruptcy Plan. Even in jurisdiction in which a tax refund is considered exempt, or for which there are available exemptions to protect the tax refund, the Trustee will likely argue that the tax refund, as disposable income, should be delivered to the Trustee in order to contribute such monies to the Chapter 13 Bankruptcy Plan. In some instances the contribution of the tax refund to the Chapter 13 Bankruptcy Plan operates as a sort of credit. For example, if the Debtor’s Chapter 13 Bankruptcy Plan offers a repayment of 100% to the unsecured creditors and no other creditors are being paid through the Plan then any contribution of tax refund monies will reduce the balance owed to such creditors pursuant to the Chapter 13 Bankruptcy Plan. However, if the debtor is offering a 10% repayment to the unsecured creditors pursuant to the Chapter 13 Bankruptcy Plan, and no other creditors are paid through such Plan, often the Trustee will not apply the tax refund monies as a reduction of the 10% the Debtor is paying to the unsecured creditors, but simply pay a larger dividend to the unsecured creditors than that provided for in the Chapter 13 Bankruptcy Plan. For example, if the 10% dividend to the unsecured creditors offers to pay a total of $5,000 to such creditors, and the Chapter 13 Bankruptcy Trustee receives tax refund monies in the amount of $1500, the Trustee may eventually disperse $6,500 to such creditors. If an additional tax refund is received in the amount of $2,000, the Trustee may eventually disperse $8,500 to such unsecured creditors. This treatment of tax refunds is a dramatic hardship for the debtors seeking relief through Chapter 13 Bankruptcy. There are a number of methods to counter the position of the Chapter 13 Bankruptcy Trustees, at least in the Middle District of Florida, Tampa Division. One method is for the Debtor to adjust his or her withholdings in order to defeat the possibility of any tax refund from the Internal Revenue Service. Another method is for the Debtor to claim that the refund is necessary to fund a necessary expense that was not accounted for when the Chapter 13 Bankruptcy was filed. For example, if the Debtor needs the tax refund monies to pay for repairs to a disabled air conditioning unit, or the Debtor needs repairs to the roof of his or her dwelling, the Debtor or Bankruptcy Attorney can make application to reserve the tax refund for such purposes. A third method to defeat the actions of the Chapter 13 Bankruptcy Trustee may be found in the United States Bankruptcy Court, in the Eastern Division of Illinois, in the case of... --- - Published: 2017-12-12 - Modified: 2024-12-19 - URL: https://www.jayweller.com/valuation-of-assets-in-bankruptcy/ Valuation of property or assets in bankruptcy is an important element of any bankruptcy, including Chapter 7 and Chapter 13 bankruptcy. The proper standard of valuation has been the subject of considerable debate and litigation. Some of the controversy surrounding valuation of assets in bankruptcy has been ameliorated by the passage of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). The standard usually applied in determining the value of an asset for purposes of bankruptcy is the price a retail merchant would charge for property of that kind, considering the age and condition of the property. This definition complies with the BAPCPA use of a replacement value standard, meaning the replacement value of the property at the time of filing, without considering the cost of sale or marketing. Using the metric described above, the bankruptcy practitioner or debtor may be able to deduct certain elements inherent in a retail sale from the valuation apparently adopted by the BAPCPA. For example, the debtor might be able to deduct from the value of the asset, the retailer’s profit and possibly the cost of reconditioning the property. The cost of reconditioning the property appears to be a deduction that is more clearly provided for under the BAPCPA, as the standard is the price a retail merchant could charge, considering the age and condition of the property. A deduction for the retailer’s profits is less clearly provided for under this more commonly adopted standard for valuation. An important element of the standard definition of value of assets is the price a retail merchant could charge for property of that kind. Certain assets that are valued in a bankruptcy are of a class sold in a retail environment. Examples include new and even used automobiles. Used furnishings and household items, however, are often the subject of valuation in bankruptcy, and typically such assets are not sold by retailers. Used furnishings are typically sold by consumers directly, through garage sales or Craigslist, or by vendors such as Salvation Army or Goodwill. There is no retail marketplace for used furniture. In such instances, according to the definition employed, should the retail value be determined to be zero? BANKRUPTCY VALUATION OF ASSETS FOR EXEMPTION PURPOSES The retail or replacement valuation standard only applies to valuation of claims and not valuation of property for exemption purposes. For example, a debtor seeking to value or determine the secured status of an automobile in a Chapter 13 bankruptcy is directed to use the retail or replacement value. A debtor seeking to value the same automobile for purposes of either utilizing an available exemption or a liquidation analysis should use a differing standard. This standard should properly be described as what the debtor or bankruptcy trustee would receive if he or she sold the asset either at an auction, garage sale or pawn shop. This may be referred to as an auction value or a liquidation value. This value is obviously more beneficial to the debtor and is more firmly... --- - Published: 2017-12-04 - Modified: 2024-05-30 - URL: https://www.jayweller.com/creditor-harassment-summary/ OFFENDING PARTY A DEBT COLLECTOR? MUST BE A DEBT COLLECTOR AND NOT ORIGINAL CREDITOR COLLECTING DEBT. DID DEBT COLLECTOR IDENTIFY HIMSELF AS A DEBT COLLECTOR? WAS DEBT A CONSUMER DEBT TRANSACTION? INCLUDES BAD CHECKS, CONDO ASSESSMENT FEES, RESIDENTIAL RENTAL PAYMENTS, MUNICIPAL WATER SERVICE, REPOSSESSIONSEXCLUDES CHILD SUPPORT, TORT CLAIMS, AND PERSONAL TAXESVALIDITY OF DEBT IRRELEVANT FAIR DEBT COLLECTION PRACTICES ACT - FEDERAL LAW . STRICT LIABILITY STATUTE, STATUTORY DAMAGES UP TO $1,000 PER VIOLATION. ACTUAL DAMAGES ALSO. REASONABLE ATTORNEY FEES. ONE YEAR STATUTE OF LIMITATIONS. FLORIDA CONSUMER COLLECTION PRACTICES ACT---FLORIDA STATUTE . SECTION 559. 72 PROHIBITED PRACTICES GENERALLY, SIMILAR TO FDCPA. TWO YEAR STATUTE OF LIMITATION. IN ADDITION TO STATUTORY DAMAGES OF UP TO $1,000 PER VIOLATION, AND ACTUAL DAMAGES, PLAINTIFF MAY SEEK PUNITIVE DAMAGES AND EQUITABLE RELIEF. PROHIBITED CONDUCT **UNUSUAL OR INCONVENIENT TIMES  - BEFORE 8 AM AFTER 9 PM**PLACE OF EMPLOYMENT  - EXPRESS SUCH CALLS NOT INVITED BY EMPLOYER OR DEBTOR**DEBTOR IS REPRESENTED BY AN ATTORNEY**WRITTEN COMMUNICATION DEBTOR REFUSES TO PAY OR CEASES COMMUNICATION **ALL ABUSIVE, FALSE, AND UNFAIR COLLECTION PRACTICES**UNCOLLECTIBLE DEBTS  - THREATENING ACTION THAT CANNOT LEGALLY BE TAKEN**FAILURE TO REPORT TO CREDIT BUREAU KNOWN DISPUTED DEBT IS DISPUTED**THREATENING LEGAL ACTION - WHEN DEBT COLLECTOR’S POWERS LIMITED TO PHONE CALLS**ATTEMPT TO COLLECT AMOUNTS NOT EXPRESSLY AUTHORIZED BY AGREEMENT CREATING DEBT OR PERMITTED BY LAW **CREATING FALSE SENSE OF URGENCY **USING PROFANE OR OBSCENE LANGUAGE**FALSE REPRESENTATIONS---INCLUDES DECEPTION, SIMULATING JUDICIAL OR OFFICIAL DOCUMENTS, COLLECTINGTIME-BARRED ACCOUNTS **AFFIRMATIVE DISCLOSURE REQUIREMENTS---IN THE INITIAL COMMUNICATION OR WITHIN FIVE DAYS AFTER INITIAL COMMUNICATION MUST DISCLOSE “THE DEBT COLLECTOR IS ATTEMPTING TO COLLECT A DEBT AND THAT ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE” AND “COMMUNICATION IS BY A DEBT COLLECTOR. ” MUST DISCLOSE IN WRITING: (1) AMOUNT OF THE DEBT; (2) NAME OF CREDITOR; (3) STATEMENT THAT UNLESS CONSUMER WITHIN 30 DAYS OF NOTICE DISPUTES THE DEBT, DEBT WILL BE ASSUMED TO BE VALID; (4) STATEMENT THAT IF CONSUMER NOTIFIES IN WRITING WITHIN 30 DAYS OF DISPUTE OF DEBT, COLLECTOR WILL OBTAIN VERIFICATION; (5) UPON WRITTEN REQUEST WITHIN 30 DAY PERIOD, COLLECTOR WILL PROVIDE CONSUMER NAME AND ADDRESS OF ORIGINAL CREDITOR IF DIFFERENT FROM CURRENT CREDITOR **ATTORNEYS - ATTORNEYS SENDING DUNNING LETTERS MUST BE DIRECTLY AND PERSONALLY INVOLVED IN THE MAILINGPERSONALLY INVOLVED IN FILE; COLLECTION ACTIONS WITHIN VENUE WHERE CONSUMERRESIDES OR SIGNED CONTRACT Image credit: antonioguillem --- - Published: 2017-11-28 - Modified: 2024-05-30 - URL: https://www.jayweller.com/tarpon-springs-florida/ General Information Tarpon Springs, Florida is a quaint nostalgic city with a population of approximately 25,000 people. It is located in Pinellas County on the Anclote River less than a mile from the Gulf of Mexico on the west coast of Florida. Its’ location is about 30 miles northwest of Tampa and just 20 minutes north of Clearwater. This city is a modern day “Little Greece” and is primarily recognized today for its’ famed sponge docks and Greek heritage. Markedly, Tarpon Springs has more Greek people per capita than any other American city. In the early twentieth century hundreds of Greek sponge divers and their families migrated to the city and the Greek culture has been engrained, established and thrived ever since. Today the surrounding bayou, river and mainline to the gulf is still the operative waterfront that serves as the sponge boats and large fleet of shrimpers home base. The sponge industryis the most vital business in Tarpon Springs and generates millions of dollars for the city each year. It also aided in the building of a Greek community that is now known for thefinest sponges, Greek restaurants, markets and bakeries to be found inthe United States. This charming little town is rich in history and is a popular tourist attraction. As a result, tourism is the city’s mainstay and contributes more than $20 million a year to the local economy. Tarpon Springs is also wellknown for its notorious Epiphany celebration that occurs on January 6th each year. Thousands of people rally in the city to take part in this religious tradition of the Greek Orthodox Church on this prideful day. Tarpon Springs is a beautiful city where one can delight in the experience of Little Greece in the America’s and is a strong focal point of the community where heritage and culture continues to bloom. Early History The establishment of the region in what is known today as the thriving city of Tarpon Springs began with the area’s first private landholder, Samuel E. Hope when he purchased the territory on the north side of the river in 1864. Farmers and fisherman then began to settle in the area and in that same year, a couple from South Carolina by the names of William and Julia Thompson homesteaded a plot of land. This couple’s home is still in existence today and serves as a noted historic site denoted as the Thompson-Jukes house, which is located on the present-day major highway US 19 at the corner of Nebraska Ave. In 1876, a man named A. W. Ormond and his daughter, Mary migrated to the area and became the first settlers to live in what are now the city limits of Tarpon Springs. The waterfront city thrived with a fish that Mary loved to watch jump out of the water. The fish were mullet, but she thought them to be Tarpon, so she named the settlement Tarpon Springs. Not shortly after the first settlers arrived, a man named Hamilton Disston, a... --- - Published: 2017-11-13 - Modified: 2024-12-19 - URL: https://www.jayweller.com/bankruptcy-waiting-periods/ CHAPTERSWAITING PERIOD7 TO 78 YEARS FROM PREVIOUS FILING13 TO 132 YEARS FROM PREVIOUS FILING (CASE MUST BE CLOSED)7 TO 134 YEARS FROM PREVIOUS FILING13 TO 76 YEARS FROM PREVIOUS FILING UNLESS 100% OF THE UNSECURED WERE PAID IN THE PRIOR CHAPTER 13 OR AT LEAST 70% OF THE UNSECURED DEBTS WERE PAID IN THE PRIOR CHAPTER 13 AND THE PLAN WAS PROPOSED IN GOOD FAITH The above chart represents the period of time a debtor must wait between the filing of various chapters of bankruptcy in order to receive a Discharge in a subsequent bankruptcy. If the debtor did not receive a Discharge in the prior bankruptcy then the waiting period is generally not applicable. The only exception is the situation in which a debtor files a Chapter 13, receives a Discharge, and then files a Chapter 7 bankruptcy. The 6 year waiting period is not required to receive a Discharge in the Chapter 7 bankruptcy if the debtor, in the Chapter 13 bankruptcy paid either 100% of the unsecured creditors in the prior Chapter 13 or at least 70% of the unsecured debts were paid in the prior Chapter 13 and the plan was proposed in good faith. One can generally surmise that the plan was proposed in good faith if the bankruptcy judge confirmed the prior Chapter 13. Remember, the waiting period begins with the FILING of the previous bankruptcy and not when the Discharge is received in the previous bankruptcy. This is a source of confusion or misunderstanding among even many bankruptcy practitioners. Also, the waiting period is the time in which the debtor must wait between a prior bankruptcy Chapter in which the debtor received a Discharge and a subsequent Chapter in which the debtor wishes to receive a Discharge. There are numerous situations in which it is not important that the debtor receive a Discharge. For example, a debtor may file a Chapter 7 bankruptcy and receive a Discharge in the Chapter 7. Subsequently, the debtor may file a Chapter 13 bankruptcy in order to pay for example mortgage arrearages or certain priority creditors (which generally must be paid in full). In such a situation it may not be important that the debtor receive a Discharge in the subsequent Chapter 13. The debtor is simply employing the Chapter 13 bankruptcy, for example, to stop a foreclosure on his or her home, and pay the arrearages through the Chapter 13 bankruptcy plan. A Discharge is not important. For such a debtor, the only important quality of the Chapter 13 bankruptcy is that it prevents further foreclosure proceedings on his home or real property and permits him to cure the arrears through the Chapter 13 bankruptcy. Weller Legal Group PA provides representation of debtors in bankruptcy. Our attorneys and paralegals have experience and training in not only bankruptcy matters, but also alternatives to bankruptcy such as debt settlements, mortgage modification, creditor harassment issues, foreclosure defense, consumer protection, and credit repair. With offices in Clearwater, Port Richey and... --- - Published: 2017-11-06 - Modified: 2024-12-19 - URL: https://www.jayweller.com/florida-homestead-exemption/ The State of Florida provides a homestead exemption which is designed to protect persons from the attachment or seizure of their places of residence by creditors. The homestead exemption provides protection against such creditor action to debtors who file bankruptcy and debtors who do not file bankruptcy. The homestead exemption for purposes of asset protection is often confused with the homestead exemption that provides a reduction in property tax obligations. This article will discuss the homestead exemption as it applies to debtors seeking to protect their home or homestead from attachment and seizure by creditors who are outside the mechanism of bankruptcy and debtors who are utilizing the homestead exemption within a bankruptcy filing. FLORIDA HOMESTEAD EXEMPTION ARTICLE X, SECTION 4 The Florida homestead exemption is provided in Article X, Section 4 of the Florida Constitution, as amended in 1968: SECTION 4. Homestead; exemptions- (a)There shall be exempt from forced sale under process of any court, and no judgment, decree or execution shall be a lien thereon, except for the payment of taxes and assessments thereon, obligations contracted for the purchase, improvement or repair thereof, or obligations contracted for house, field or other labor performed on the realty, the following property owned by a natural person: (1) a homestead, if located outside a municipality, to the extent of one hundred sixty acres of contiguous land and improvements thereon, which shall not be reduced without the owner’s consent by reason of subsequent inclusion in a municipality; or if located within a municipality, to the extent of one-half acre of contiguous land, upon which the exemption shall be limited to the residence of the owner or the owner’s family. FLORIDA HOMESTEAD EXEMPTION APPLICATION IN BANKRUPTCY The Florida homestead exemption contains no limitation as to the value of the residence. However, for a debtor who claims the Florida homestead exemption in a bankruptcy, there are limitations. If the debtor owned the residence for less than 1215 days before the filing of the bankruptcy, the homestead exemption is limited to $125,000 equity in the residence. Bankruptcy Code Section 522(p) addresses this limitation. The debtor should be able to double the $125,000 equity limit if the debtor is filing bankruptcy with a spouse who also has an ownership interest in the property. After 1215 days, there is no limitation as to the value of the property. FLORIDA HOMESTEAD LIMITED TO NATURAL PERSONS Various criteria must be present for a debtor to claim the homestead exemption. First, the homestead exemption applies only to natural persons. The Florida homestead exemption was initially limited only to the head of household. The Florida Constitution was amended in 1984 to extend the homestead exemption to property “owned by a natural person. ” The definition of what constitute a “natural person” for purposes of the Florida homestead exemption is itself, the subject of considerable debate and litigation. If a husband and wife purchase a dwelling, do the husband and wife qualify as a “natural person? ” The husband and wife can qualify... --- - Published: 2017-10-24 - Modified: 2024-12-18 - URL: https://www.jayweller.com/chapter-9-bankruptcy-hartford-detroit-et-al/ The mayor of Hartford, Connecticut, Luke Bronin has been intimating for a number of months that the city may need to file Chapter 9 bankruptcy. Chapter 9 bankruptcy is a form of bankruptcy where a municipality can seek to reorganize its debts, and arrange such debts in a reduced payment over a period of years. According to reports, Hartford currently has a $65 million dollar deficit and has problems meeting its obligations, including upcoming shortfalls in revenue of $7 million in November, 2017 and $39. 2 million in December of 2017. In September, 2017 Bronin allegedly informed the Connecticut Governor, Daniel P Malloy and numerous legislative leaders that he expects the city to file Chapter 9 bankruptcy if the city does not receive sufficient state funding by early November. Bronin had requested the state provide at least $40 million dollars more this year, in addition to the $260 million dollars previously granted. Democrats in the state legislature offered to provide $40 million dollars to $45 million dollars. However, the Republican budget was adopted, which offered the city only $7 million dollars in additional aid. The Republican budget was vetoed by Malloy. Currently, the state of Connecticut is operating without an approved budget. Representative Brandon McGee (D), “It’s been really impossible to reassure people that bankruptcy is not there. It’s there. It’s real. ” Bronin has scheduled a number of public hearings to discuss the possibility of a Chapter 9 bankruptcy filing. A number of panelists have been invited to provide insight into the ramifications of the filing of a municipal bankruptcy, including Kevyn Orr, the former emergency manager for Detroit, which filed Chapter 9 in 2013, Central Falls, Rhode Island Mayor James Diossa, whose city filed Chapter 9 bankruptcy in 2011, and Don Graves, the senior director of corporate community initiatives at Key Bank. Bronin commented, “The discussions are aimed at shedding light on the Chapter 9 process in other cities, so we can learn from the experience. As we consider all of our options for putting the city of Hartford on a path to sustainability and strength, it’s essential that our residents are a part of that conversation. We’ve had a number of requests for a more detailed discussion of what bankruptcy would mean for our city. ” The police and firefighters unions, which are two of the city’s largest and politically powerful unions, have undertaken the procurement of advice from attorneys who specialize in Chapter 9 bankruptcy. In addition, the American Federation of State, County and Municipal Employees Council 4, Local 1716, which represents about 400 city employees, has sought advice from its national leadership. Vincent Fusco, the leader of Hartford’s fire union said, “If bankruptcy goes through, it’s over. Forget everything we gave up, it’s over. ” The president of the Hartford Police Union, John Szewcyzk said, “We’ve met with counsel, and obviously we’ll be protecting our members that are relying on their pensions they paid into their whole careers. We would fight to keep our pensions.... --- - Published: 2017-10-09 - Modified: 2024-05-30 - URL: https://www.jayweller.com/chapter-7-bankruptcy-treatment-of-secured-property/ 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 loan. In a Chapter 13 bankruptcy one manifests his or her intent regarding such secured property through the Chapter 13 plan. In a Chapter 7 bankruptcy, the Statement of Intentions must include all of the debtor’s secured debts, the creditor which holds such debt, and which option the debtor chooses in the treatment of the secured debt. The bankruptcy code requires that the debtor mail the Statement of Intentions to the secured creditor within 30 days after filing the bankruptcy case. Most bankruptcy attorneys will file the Statement of Intentions concurrently with the filing of the bankruptcy petition. Furthermore, the debtor must exercise the option chosen by the debtor pursuant to the Statement of Intention within 30-45 days after the first scheduled creditor’s meeting or 341 hearing. The first scheduled 341 hearing is usually approximately 30 days after the filing of the bankruptcy petition. Bankruptcy Code Section 362(h) states that the debtor must act pursuant to his stated intention within 30 days of the meeting of creditor (341 hearing). Bankruptcy Code Section 521(a)(6) maintains that the debtor must either reaffirm or redeem the debt described in the Statement of Intention within 45 days after the first scheduled meeting of creditors. If the debtor does not meet these requirements, the automatic stay protection is no longer in effect regarding the subject property. However, the automatic stay will remain in effect where otherwise applicable. For example, the debtor who does not comply with a creditor request (within 30-45 days after the first scheduled 341 hearing) for the repossession of an automobile, which the debtor declared his intention to surrender in the Statement of Intention, will find that the automatic stay will no longer be effect, as it pertains to the automobile. In the surrender of real property, the bankruptcy code is less clear was to the treatment of the debtor for non-compliance with the stated option on the Statement of Intentions. In the matter of personal property, the automatic stay can be eliminated for such non-compliance. However, there can be clear penalties for a debtor who elects to surrender real property in the bankruptcy, and thereafter, actively defends against a foreclosure action brought by the lender. This issue is more elaborately discussed in the latter portion of this article. The Statement of Intentions in bankruptcy is not entirely binding on the debtor. The Statement of Intentions is as the title describes. It is a declaration of the intention of the debtor when he signs the Statement and when the document is filed in the bankruptcy court. The debtor may elect to surrender the subject property and later change his mind, seeking for example, the reaffirmation of the... --- - Published: 2017-09-25 - Modified: 2025-03-31 - URL: https://www.jayweller.com/toys-r-us-the-retail-apocalypse-and-mitt-romneys-bain-capital/ 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 of bankruptcy, and usually the continuation of its operations. Toys R Us announced in a statement that it voluntarily sought Chapter 11 protection, “To achieve our financial objectives, Toys R Us and some of our US subsidiaries and our Canadian subsidiary proactively and voluntarily filed for Chapter 11 of the Bankruptcy Code in the US. ” Toys R Us, based on Wayne, New Jersey, also stated that the Canadian subsidiary also instituted bankruptcy proceedings, but its Asian operations did not. Toys R Us declared: “We are confident that this financial restructuring is the best path forward to ensure that Toys R Us can invest in our business, continue to improve our customer’s experience and strengthen our competitive position. We are confident that this financial restructuring is the best path forward to ensure Toys R Us can invest in our business, continue to improve our customer’s experience and strengthen our competitive position. ” Macys, JC Penny, Sears and Kmart have announced the closing of many of its stores. Sears Holdings on August 24 announced the closing of an additional 28 locations. JC Penny closed 138 stores in July, 2017. Macy’s announced in February the planned closing of 34 stores, in addition to the 70 locations it closed in 2016. Vitamin World also filed Chapter 11 Bankruptcy, and plans the closing of at least 51 of its 334 stores. On September 6, Gap and Banana Republic revealed plans to close 200 locations. Concurrently, Gap plans to open 270 locations for its more popular Old Navy and Athleta offerings. Perfumania filed Chapter 11 Bankruptcy in August, 2017, and the closing of 64 of its 226 stores. Teavana announced the closing of all of its locations. Gymboree also filed Chapter 11 Bankruptcy, and plans the closing of 350 stores. True Religion filed Chapter 11, and expects at least 27 stores to close. Many other retailers have either filed Chapter 11 Bankruptcy or are undertaking various efforts at restructuring. Ascena Retail Group, which owns Ann Taylor, Loft, Lane Bryant, Dress Barn, Justice, and others, plans the closing of 667 locations. The list continues with Michael Kors (100-125 stores), Payless ShoeSource (512 stores), Bebe Stores (180 locations), Rue21 (400 stores), Radio Shack (1,000 stores), Abercrombie & Finch (60 stores), Guess (60 stores), Crocs (160 stores), The Limited (250 stores), Wet Seal (171 stores), American Apparel (110 stores), HH Gregg (220 stores), GameStop (150 stores), Staples (70 stores), CVS (70 stores), and Family Christian with 240 closings. Numerous explanations are given for these retailers’ financial struggles. Urban Outfitters Chief Executive Officer Richard Hayne attests, “There are just too many stores, especially those that sell clothing. This created a bubble, and like housing,... --- - Published: 2017-09-18 - Modified: 2024-05-30 - URL: https://www.jayweller.com/taxes-and-tax-liens-in-bankruptcy/ 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: The tax return was due more than three (3) years before the filing of the bankruptcy petition. If the debtor, received an extension of time to file the tax return, the period of the extension is added to the three (3) year requirement; The tax was assessed more than 240 days before the date the bankruptcy petition was filed; If the debtor requested an offer in compromise from the IRS, the time in which the IRS considered such offer is not counted towards the 240 day assessment requirement. Furthermore, an additional 30 days is added to the period it takes the IRS to reach a decision. For example, if the debtor requests an offer in compromise and the IRS rejects such offer four months later, the debtor must wait 240 days, and an additional four (4) months and 30 days, in order to obtain a discharge of such debt in a bankruptcy; The tax return was filed more than two (2) years before the filing of the bankruptcy petition; The tax return was not deemed fraudulent or there was no willful attempt to evade the tax. Simple negligence, which may be treated as a misdemeanor, does not automatically disqualify a filer. Tax fraud occurs when a tax filer does any of the following: Intentionally fails to file a Income tax return; Willfully fails to pay taxes due; Intentionally fails to report all income received; Makes fraudulent or false claims; or prepares and files a false return. Under 11 USC 1129(d), the governmental unit has the burden of proving that the principal purpose of the plan is tax avoidance. Most courts apply a “totality of the circumstances” approach, meaning the bankruptcy court must evaluate each case on a case by case basis, examining all relevant factors. ” If the tax debt meets all of the above term, the tax debt qualifies for discharge in bankruptcy. However, if the IRS has placed a tax lien on your property, the tax lien may not be discharged in bankruptcy. The debtor may receive a discharge of his or her personal liability as it related to the tax debt, but the property subject to the tax lien will carry liability subsequent to the bankruptcy. However, the debtor has a number of options to address such tax lien, through the mechanism of a Chapter 7 bankruptcy or Chapter 13 bankruptcy. TAXES NOT DISCHARGED IN BANKRUPTCY Certain federal taxes are not eligible for discharge in bankruptcy. These taxes may not be discharged in bankruptcy, irrespective of any criteria, such as the age of the tax, or date of assessment. For example, trust fund taxes are not subject to discharge in bankruptcy. Trust fund taxes are taxes that... --- - Published: 2017-09-12 - Modified: 2024-05-30 - URL: https://www.jayweller.com/hurricane-irma-and-bankruptcy/ 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 will discuss the validity of this purported relation between hurricanes, natural disasters and bankruptcy filings. The article will also discuss possible remedies for those seeking to avoid the filing of bankruptcy, and the potential benefits of filing bankruptcy by those affected. Hurricane Andrew struck south of Miami in 1992. The category 5 hurricane caused estimated damage of $25 billion dollars. At the time, Hurricane Andrew was the most expensive hurricane experienced by the United States. The majority of the impact of Hurricane Andrew was experienced in the Southern District of Florida. According to one examiner, bankruptcy filings after Hurricane Andrew actually declined following the hurricane, reflecting a national trend of declining filings of bankruptcy. Hurricane Hugo, a category 4 Hurricane, prominently affected Puerto Rico and South Carolina, in September, 1989. At the time, Hurricane Hugo was the costliest hurricane to affect portions of the United States. Bankruptcy filings in Puerto Rico increased significantly and rapidly subsequent to Hurricane Hugo. Bankruptcy filings increased the first quarter after Hurricane Hugo, and increased for a number of quarters thereafter. However, bankruptcy filings were already increasing before the experience of Hurricane Hugo. South Carolina experienced nominal increases in bankruptcy filings in the year following Hurricane Hugo, and much higher increases in the subsequent year. Hurricane Floyd entered Eastern North Carolina in 1999. The damage caused by Hurricane Floyd to this region was estimated at approximately $5 billion dollars. Prior to Hurricane Floyd, bankruptcy filings were in a pattern of decline in the Eastern District of North Carolina. Bankruptcy filings in the same district continued to decline for the six months following Hurricane Floyd. This was followed by subsequent increases, which reflected national patterns. The Midwest Floods of 1993 presented heavy rainfall in the upper Mississippi River Valley, and flooding in nine States. Over 16,000 square miles were consumed by water. The damage was estimated at about $15 billion dollars. Iowa and Missouri were the States most affected by the floods. Bankruptcy filings in these States were in decline prior to the flood and continued a downward trend for the next year. Bankruptcy filings began to increase in the second year after the flood, which was reflective of national patterns. These prior examinations of natural disasters seem to indicate little correlative relation between the natural disasters and bankruptcy filings within the districts or regions affected. However, other factors may need examination. Many persons most deleteriously affected financially or economically by such events may leave the affected region entirely, and subsequently file bankruptcy within the new region they inhabit. Also, the necessity of filing bankruptcy may be experienced not in the time immediately following the hurricane or natural disaster, but perhaps,... --- - Published: 2017-08-20 - Modified: 2024-05-30 - URL: https://www.jayweller.com/solar-eclipse-of-2017-moves-west-to-east-houston-we-have-a-problem/ 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 the Sun. Such occurrence blocks all direct light from the Sun, effectively turning day into night. One can only view a total solar eclipse along a narrow range when viewed from the surface of the Earth. The total solar eclipse anticipated on August of 2017 will be reach “totality” in approximately 14 States. This total solar eclipse will be visible along a narrow range of 70 miles, and as such will be visible as a total solar eclipse in the States of South Carolina, North Carolina, Georgia, Tennessee, Kentucky, Illinois, Missouri, Nebraska, Kansas, Iowa, Montana, Wyoming, Idaho, and Oregon. A partial solar eclipse will be visible in many other States. A partial solar eclipse is visible along a belt spanning thousands of kilometers. According to Wikipedia, the solar eclipse of August, 2017 will be visible as a partial solar eclipse in portions of northeast Asia, Africa, western Europe, northern parts of South America, and all of North America. A total solar eclipse differs from an annular eclipse in that an annular eclipse occurs when the edge of the Sun appears as a bright ring around the moon. An annular eclipse occurred most recently in the United States in 2012. The United States has experienced five solar eclipses in the past three decades. However, the Earth has experienced 33 solar eclipses between the years 2000 to 2017. TOTAL SOLAR ECLIPSE PRIOR OCCURRENCES The last time a total solar eclipse was visible in mainland United States was in February, 1979. A total solar eclipse was visible from portions of Hawaii on July 11, 1991. However, total solar eclipses occur somewhere on Earth on average every 18 months. Total solar eclipses are rare in the sense that they occur in any given location on Earth on average, every 360 to 410 years. SOLAR ECLIPSE 0F 2017 Wikipedia states that a total solar eclipse is predicted to occur across the contiguous United States of America on August 21, 2017. According to Wikipedia, the total solar eclipse will only be visible along a slim section of the United States. This eclipse will only be visible in other countries as a partial eclipse. The prior event of a total solar eclipse visible across the United States was on June 8, 1918. According to an article entitled, “Everything You Need To Know About The 2017 Solar Eclipse” by Leanna Garfield for Business Insider, if you are viewing this solar eclipse within its path of totality, the sky will turn fully dark for a few minutes in the afternoon, and the temperature will decline. The Moon and the Sun will appear approximately equal in size. According to the same article, the total solar... --- - Published: 2017-07-17 - Modified: 2024-05-30 - URL: https://www.jayweller.com/a-brief-introduction-to-lakeland-florida/ 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 this source, the Indians came to this area because they were searching for hunting and game opportunities. The Indians stayed and their communities grew. According to such sources, when the Spanish explorers and conquerors arrived at the peninsula, know known as the State of Florida, there were approximately 250,000 Indians residing on the peninsula. Among the tribes that inhabited this region were the Timucua, Calusa, and Tocobago tribes. These pre Colombian tribes became largely extinct, due to numerous factors including the harsh treatment of such Indians by the Spanish invaders, slavery, and disease such as smallpox and yellow fever, for which the Indians had scant natural immunities. This is the account often cited by such websites as Wikipedia, and other popular sources for the diminution of the Indian tribes that inhabited what is now known as Lakeland, Polk County, and the greater Florida region. This is the official history, as presented in public education institutions and popular history. Although such descriptions may explain the demise of portions of the Native population, other less employed explanations may have had a larger effect on the reduction of the Native population, in the Lakeland, Polk County, Florida, and the greater region known as the Eastern United States. It is the common practice of any imperial force to extract the resources from the subject territory or population. Such resources include sources of energy, such as coal, oil and other resources, but also valuable commodities, such as gold, jewels, food crops, and spices. Also among the resources typically extracted by imperial forces are the populations that are Native to the subject territory, through various forms of slavery. It is estimated that as many as 10 million Natives lived in what is now known as the United States, at the time of the first Spanish explorers. Some historians counter that the Native population was significantly reduced through the forced removal of the Native population to Europe, Africa, and the Middle East. The early European explorers described the “copper colored” people that inhabited the Eastern portion of what is now known as the United States. Such historians argue that the majority of the persons in the United States today that are referred to as African Americans, are in fact, descendents of the Indian tribes inhabited by the “copper-colored” Indians or the black Indians. Such a proposition is beyond the subject of this article. However, there is ample evidence for such a proposition. Wikipedia continues that there is little remaining evidence of such Native inhabitants in the Lakeland and Polk County area, except for some shell mounds and some personal artifacts. Allegedly, such Indian tribes eventually merged with the Creek Indians who came... --- - Published: 2017-07-10 - Modified: 2024-05-30 - URL: https://www.jayweller.com/bankruptcy-assistance/ 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, and Credit Repair. Jay Weller founded Weller Legal Group in 1993 and quickly grew to seven offices throughout Florida, including Miami, Orlando, Tampa, Lakeland, Clearwater, Bradenton/Sarasota, and Port Richey, Florida. Currently, Weller Legal has four offices including Clearwater, Port Richey, Lakeland, and Brandon, Florida. These offices cover what is designated the Middle District of Florida, Tampa Division of the US Bankruptcy Court. By maintaining these offices we are able to provide assistance and representation to our many Clients in Bankruptcy Proceedings. The Counties that comprise the Middle District of Florida, Tampa Division include Pinellas, Pasco, Hernando, Hillsborough and Pasco Counties. Our law offices are usually conveniently located near to where our Clients live or work. If you need Bankruptcy Assistance or Representation in Bankruptcy Proceedings or are interested in our many programs that alternatives to bankruptcy, please contact Mr. Weller by either calling 1-800-407-3328 (DEBT) or by contacting Mr. Weller through our website. With almost a quarter-century of service and assistance to the greater Tampa region encompassing the Middle District of Florida, Tampa Division, Weller Legal Group is dedicated, knowledgeable, and experienced in most matters related to Bankruptcy Law and Practice. Help and Assistance in Bankruptcy and other debt related issues are available here at Weller Legal Group. The Bankruptcy Attorneys, Lawyers, and Paralegals are dedicated to helping you in these difficult financial times. Help and Assistance are here. At Weller Legal Group, if you are in debt, we can help. Thank you. Image Credit: 73598145 --- - Published: 2017-06-20 - Modified: 2024-05-30 - URL: https://www.jayweller.com/family-or-household-size-in-bankruptcy/ 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 what payment the debtor will make to the Chapter 13 trustee in a Chapter 13 bankruptcy. Among the many detriments to the rights of debtors through the administration of bankruptcy processes, the Bankruptcy Abuse and Consumer Protection Act (BAPCPA) also participated in the willful expungement by Congress of its fundamental function to legislate, to make laws. Family or household size in bankruptcy law should be first defined by Congress, in its legislative capacity. The BAPCPA gave the power to the Executive Branch through the US Department of Justice, and through its agent, the US Trustee office or the US Trustee Program, to make such determinations. Such action also removed a certain function and power of the Judicial Branch of government, or the US Bankruptcy Courts, to make such interpretations. When an essential concept such as the definition of family or household size, as defined in bankruptcy, is left undefined by the Statutes established by the Legislative Branch, then the US Constitution expects that the Judicial Branch will offer definition when vagueness is present. Such definition will come at least from the debate of an experienced bankruptcy attorney, generally against the definition summoned to the imagination of either the bankruptcy trustee or some other opposing party. Such debate is open and recorded and under the guidance of a bankruptcy judge, who hopefully is waging his or her decision according to proper concepts of law and fairness. For such power to be ceded to nameless bureaucrats is an affront to democracy and proper Constitutional principles. It is also an affront and detrimental to the basic Constitutional principle of separation of powers. The founding fathers, as it is presented, created the three branches of government in the US Constitution in the Legislative, Executive, and Judicial branches. The concept is that each branch would have certain powers that are different in their nature, which act to balance the power of each branch against the other and prevent one branch from obtaining overwhelming power against another branch. Such effect would presumably prevent the tyranny of one branch of government, over not only another branch of government, but also the population. Before we define family or household size for purposes of bankruptcy, here is one final comment. To name the changes to the bankruptcy code, the Bankruptcy Abuse, and Consumer Protection Act is almost laughable. It is Orwellian in its naming. The duplicity where the naming of one thing denotes the other. Lies are the truth. There was little bankruptcy fraud being committed in the bankruptcy court before the passage of the Act. Therefore, there was little justification for drafting such punitive legislation against the rights of debtors to prevent whatever... --- - Published: 2017-06-06 - Modified: 2024-12-19 - URL: https://www.jayweller.com/clearwater-florida/ 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 exist. The banks were located upon the high bluffs where is now located city hall and downtown Clearwater. The early settlers referred to Clearwater as Clearwater Harbor, ostensibly because of the clear quality of the waters. The Spanish explorer named Hernando De Soto arrived at the Pinellas Peninsula in 1528. It is not agreed by historians as to the exact location of De Soto’s arrival. However, it is argued that he arrived at Clearwater Harbor. Later, De Soto died in a storm while traversing Florida by foot with a group of soldiers. In 1539, De Soto landed at Tampa Bay. Later, Pedro Menendez came to Florida in 1567, to the Tampa region, seeking a path across Florida. Menendez brought with him 10 missionaries to establish missions throughout the region. One of the missions established by the Jesuits was created in Safety Harbor. According to historians, the remaining missionaries died in battles with the Florida natives. No settlers came to the region until the 1800s. One of the first European settlers to the Clearwater area was Dr. Odet Philippe. Philippe served under Napolean Bonaparte. Philippe established the St Helena Plantation in what is now known as Safety Harbor. His daughter married Richard Booth. Florida became a territory in 1822. The government constructed the original Fort Harrison as a recuperation center for soldiers. The United States Army began construction of the Fort Harrison, during the Seminole Wars, according to Wikipedia. Fort Harrison was abandoned in 1841. The fort is commemorated by a plaque located on Druid Road in downtown Clearwater. The Federal Armed Occupation Act of 1842 granted 160 acres of land to any single man or head of the family that would bear arms and occupies the land. Among the early settlers to Clearwater were Samuel Stephenson and James Stevens. Soon thereafter, James Parramore McMullen and six of his brothers settled in the Clearwater area. McMullen is a prominent name in Clearwater and his the family for whom McMullen Booth Road is named. Richard Booth was of the family from whom the Booth portion of McMullen Booth Road is derived. Most early settlers farmed cotton and vegetables. The Clearwater Bay was plentiful in terms of fish and other sustenance. A road connecting Hillsborough County and Tampa was first built in 1849. The first Clearwater area school was the Taylor School, which was built in the early 1850s. The Taylor School was located in the proximity of Druid Road and Hercules Avenue. Clearwater Harbor’s first school was built in 1883. The first post office at Clearwater Harbor was built in 1859. The first postmaster was David Turner. During the Civil War, according to Wikipedia, Union gunboats allegedly... --- - Published: 2017-05-16 - Modified: 2024-05-30 - URL: https://www.jayweller.com/bankruptcy-chapter-7-discharge/ 52726605 - documents for filing bankruptcy chapter 7 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 7 Bankruptcy. However, there are some advantages for a Corporation in filing Chapter 7 Bankruptcy. Besides a Corporation, an Individual may file Chapter 7 Bankruptcy. An Individual is eligible for Chapter 7 Bankruptcy Discharge. In order for an Individual or an Individual and his or her Spouse, filing together, be able to receive a Bankruptcy Discharge in a Chapter 7 Bankruptcy, the debtor or debtors must meet certain criteria. The debtor or debtors must first meet the criteria of income. If the debtor’s income significantly exceeds the median income as determined by family size, the debtor probably is not eligible to file Chapter 7 Bankruptcy. The median income determinations are published regularly by the US Trustee’s Office. There are some exceptions or limitations to this law, including cases where “exigent circumstances” are present, or where the majority of the debtor’s debts are of a business or commercial, as opposed to a consumer character. Most Individual Chapter 7 Debtors must also complete and obtain a credit counseling certificate before filing, and complete and obtain a debtor’s education certificate, after the filing of the Chapter 7 Bankruptcy. There are numerous other procedures that must be followed before the debtor may receive a Discharge. The Bankruptcy Attorney can explain the various procedures. If there is what are considered fraudulent activities on the part of the debtor, either before or after the filing of the bankruptcy, a creditor or the bankruptcy trustee can bring an action to prevent the receipt of a Discharge by the debtor. Again, such intricacies are to be addressed with an experienced and practiced Bankruptcy Attorney. If you have any questions, please contact Mr. Weller today at 1-800-407-3328 (DEBT) or through the Contact portion of our website. Our Bankruptcy Attorneys or Lawyers, and paralegals are here to help and assist you. Weller Legal Group has law offices in Clearwater, Port Richey, Lakeland, and Brandon, Florida. --- - Published: 2017-05-08 - Modified: 2024-05-30 - URL: https://www.jayweller.com/free-bankruptcy-consultation/ 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. Weller will generally meet with you personally, after speaking with you directly either through a phone call by you to our office or through our website, if you prefer. Mr. Weller is considered to be the premier bankruptcy attorney in Western Central Florida or the greater Tampa Bay region. Weller Legal Group has offices throughout this region, encompassing clients from Polk, Hillsborough, Pinellas, Pasco, Hernando, Manatee and Sarasota Counties. With offices in Port Richey, Clearwater, Brandon, and Lakeland, our offices are generally very near and convenient to where you live or work. Weller Legal Group is your local bankruptcy attorney office. Weller Legal Group PA is dedicated to providing the best bankruptcy attorney representation in Chapter 13 and Chapter 7 bankruptcy. We also provide representation to our many programs which are alternatives to bankruptcy, including Foreclosure Defense, Credit Counseling, Debt Settlements, Negotiations, and Compromises, and Credit Repair. Call and come to one of our offices for free consultation. The bankruptcy attorneys and paralegals at Weller Legal are considered by many to be the premier and best professional, representing and assisting those with debt issues. Free bankruptcy consultation with Mr. Weller or one of his bankruptcy attorneys. Call today 1-800-407-3328 (DEBT). Toll-Free You may also contact us through our website. In addition, please feel free to review the enormous amount of information relating to bankruptcy law and other avenues to confront debt issues. There is both general and very specific information contained in the website, to address virtually any question you have as it pertains to debt. Picture Credit: geralt --- - Published: 2017-04-17 - Modified: 2024-05-30 - URL: https://www.jayweller.com/tax-refunds-in-bankruptcy/ 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 seek to have the debtor turn over all or a portion of the debtor’s tax refund, to be applied towards the funding of the Chapter 13 plan. However, a tax refund as an asset in bankruptcy may be entitled to various State or Federal exemptions that can protect the refund from seizure from a bankruptcy trustee in a bankruptcy. Additionally, such exemptions may also protect a debtor who does not file bankruptcy from seizure from a creditor or creditors. The earned income tax credit is a form of payment that is the subject of attempted seizure by both bankruptcy trustees and creditors. A debtor may be able to claim certain exemptions to protect the earned income tax credit. Such exemptions may apply under either State or Federal law. In bankruptcy, whether one is able to claim either the Federal or State exemption is determined by whether the State has opted to apply Federal or State exemptions, or both, in its protection of its residents. The earned income tax credit was purportedly created to provide a benefit to lowering income persons and families. The earned income tax credit reduces the amount of taxes the tax filer needs to pay. If the earned income tax credit is in excess of the tax liability of the tax filer, the filer will receive the excess amount in the form of a refund. There is no Federal exemption that specifically addresses the earned income tax credit. There is what are referred to as standard exemptions that may be applied towards the protection of the earned income tax credit. The federal exemptions include a wildcard exemption of $1,225 and an exemption that provides a maximum of $11,500 of any unused portion of the homestead exemption. Indiana and Florida have exemptions that specifically address and protect the earned income tax credit. In each of these States, there is no limit as to the dollar amount of the earned income tax credit which is protected from either the bankruptcy trustee or a creditor. Although some States do have exemptions that specifically apply to the earned income tax credit, the child tax credit may not be similarly protected. While a debtor may be able to exempt the earned income tax credit in Florida, Florida does not have a statute or exemption that specifically applies to the child tax credit. The debtor may protect the child tax credit from seizure or attachment by a bankruptcy trustee or creditor through the application of another Florida exemption, such as the Florida wildcard exemption or the personal property exemption. The majority of the States have an exemption for what is referred to as “public assistance. ” The federal... --- - Published: 2017-04-11 - Modified: 2024-05-30 - URL: https://www.jayweller.com/doctor-david-dao/ On April 9, 2017, Dr David Dao became known nationally and internationally as the “Chinese” doctor who was forcefully removed from a United Airlines flight 3411 departing Chicago, Illinois for Louisville, Kentucky. There are a number of strange occurrences relating to the story of Mr. Dao and his removal, not the least of which is Mr. Dao, himself. According to records and documents assembled by the Kentucky Board of Medical Licensure, Mr. Dao was arrested in 2003, subsequent to an undercover investigation. The Board determined that Mr. Dao became sexually interested in a male patient named Brian Case, upon whom Dao performed a physical examination, including a genital examination. Evidently, later Dao made Case the office manager of his medical office. According to investigation, Case left the position due to “inappropriate” remarks made by Dao. Subsequently, Dao arranged the provision of prescription drugs to Case, in return for sexual favors. In 2004 Dao was convicted of a number of felonies relating to his interactions with Case, including obtaining drugs by fraud or deceit. Dao received five years of supervised probation. Case was also indicted in the matter. Dao was originally charged with 98 counts of illegally prescribing prescriptions, allegedly on behalf of Case, including such drugs as Hydrocodone, Oxycontin, and Percocet. According to Board documents, Dao supplied Case with prescription drugs over a period of three years. Dao and Case would meet in motel rooms. According to the Courier-Journal, a Kentucky periodical, the Kentucky Board of Medical Licensure permitted Dao to resume the practice of medicine in 2015, under certain conditions, which included that Dao undergo mandatory psychological examinations. The Board determined that Dao had difficulty processing his feelings, and urged Dao to examine incidents in his childhood. According to Poker News, Mr. Dao is an avid poker player. During the period in which Dao’s medical license was suspended, Mr. Dao participated in a number of poker tournaments. According to cardplayer. com, Dao placed second in the World Series of Poker, winning $117,744, in 2009. According to the same publication, Dao’s career poker winnings total $230,000. In 2016, Dao received permission by the Board to conduct “onsite consultations” with patients. Mr. Dao’s history is not the only strange issue relating to the incident on the United Airline flight. Other questions arise. Allegedly, United Airlines needed to remove four persons from the flight to enable four United personnel to have seats on the plane, as such persons were needed in Louisville. Generally, when an overbooking situation occurs, the airline will address the issue, and provide concessions to their customers, before such customers are already seated on the plane. Why did this not happen in Chicago? The flight from Chicago to Louisville is only a five hour drive by automobile. Why didn’t the airline either direct its employees to either transport themselves by automobile to Louisville, provide transport on a later flight, or even a different airline, as opposed to seeking the removal of seated passengers? The behavior of Mr. Dao, himself,... --- - Published: 2017-04-10 - Modified: 2024-05-30 - URL: https://www.jayweller.com/internal-revenue-service-use-of-private-collection-agencies/ In December of 2015, Congress passed a transportation bill entitled Fixing America’s Surface Transportation Act, and included in the Act was a provision requiring the Internal Revenue Service (IRS) to use private collection agencies for the collection of certain outstanding tax debts. The Act provides that the private collection agencies will only prosecute select accounts where the tax debt has been removed from the IRS inventory due to a lack of resources or an inability to find the taxpayer, more than one-third of the limitation period to collect on the tax debt has expired and no IRS employee has been delegated to collect the debt, and the debt has been assigned for collection but more than 365 days has passed without interaction or contact with the taxpayer in furtherance of collection of the debt. Additionally, the IRS will not assign certain accounts to the private collection agencies including accounts for minors, taxpayers in designated combat zones, victims of tax-related identity theft, accounts that are subject to an installment agreement, innocent spouse cases, and persons in presidentially declared disaster areas who request relief from the collection. It appears the private debt collectors are not exempted from the provisions of the Fair Debt Collection Practices Act, which prohibits certain behavior by debt collectors including contacting alleged debtors before 8 am and 9 pm, contacting persons at work if they are requested not to, making certain misrepresentations such as threatening imprisonment, the amount owed, or falsely accuse such persons of having committed a crime. It is uncertain whether such private debt collectors are permitted to use robocalls. A Federal Communications Commission ruling holds that the federal government is permitted to use the robocall device in contacting American consumer, as long as such contact is for government business. However, it is unclear whether such decision applies to the private contractors. The IRS says that before any account is transferred to a third party, the IRS will notify the taxpayer in writing that the account is being transferred to a private collection agency. Subsequently, the private collection agency will send a separate letter confirming such transfer. Then the collection agency will commence contacting the taxpayer by phone. According to the IRS, the private debt collectors are required to clearly identify themselves as contractors of the IRS. If a taxpayer receives such calls but is unwilling to work with the private collection agency, the taxpayer may request in writing to only work directly with the IRS. According to Bill Banowsky, who heads the program for the IRS, the IRS will initially only assign cases with a debt of less than $50,000. However, as the program progresses, Mr. Banowsky promises the agency will assign larger and more complicated cases to the private debt collectors. The IRS will begin the program by assigning 100 taxpayers per week to four separate private debt collection companies. The IRS anticipates that the program will expand to 1,000 accounts per week by the end of summer, 2017. The debt collectors are not... --- - Published: 2017-04-03 - Modified: 2024-05-30 - URL: https://www.jayweller.com/domestic-support-obligations-bankruptcy/ Another important exception to bankruptcy is domestic support obligations. Domestic support obligations are not discharged in bankruptcy and are therefore referred to as an exception to bankruptcy. Intentional torts are another exception to bankruptcy and were discussed in our prior article. Domestic support obligations are defined by federal and not state law. 11 USC 101(5) states that a domestic support obligation is not discharged in bankruptcy. 11 USC 101(15) furthermore states that monies owed “to a spouse, former spouse, or child of the debtor and not of the kind described in paragraph (5) that is incurred by the debtor in the course of a divorce or separation or in connection with a separation agreement, divorce decree or other order of a court of record, or in a determination made in accordance with State or territorial law by a governmental unit” are likewise, not discharged in bankruptcy, and are an exception to bankruptcy. Domestic support obligation is broadly defined to include any debt that accrues before or after the filing of the bankruptcy, including any interest that accrues on nay debt that is recoverable by the spouse, former spouse, or child of the debtor, or the child’s parent, legal guardian, or caretaking relative, or a governmental unit. A domestic support obligation is any debt in the nature of alimony, child support, maintenance or support. Such obligations can be considered to be domestic support obligations regardless of whether such obligations are so named domestic support obligations. If the debt is assigned to a non-governmental entity, such debt is not a domestic support obligation unless the obligation is voluntarily assigned by the spouse, former spouse, or child of the debtor, or the child’s parent, legal guardian, or responsible relative, for the purpose of collecting the debt. The 2005 BAPCPA removed the ability of a debtor in bankruptcy to discharge obligations to a former spouse resulting from a divorce decree, separation agreement or equitable distribution award. All domestic award obligations are nondischargeable under bankruptcy code section 523(a)(5). Furthermore, bankruptcy code section 523(a)(15) holds that any obligations not covered by 523(a)(5), such as obligations arising from a property settlement or division, owed to a “spouse, former spouse, or child of the debtor, are not discharged in bankruptcy, if such debts were “incurred by the debtor in the course of a divorce or separation or in connection with a separation agreement, divorce decree or other order of a court of record. ” In a Chapter 13 bankruptcy, whether an obligation is a domestic support obligation or an obligation arising from a property division or settlement is an important consideration. In Chapter 13 bankruptcy, a domestic support obligation is deemed to be a priority claim under bankruptcy code section 507(a)(1)(A). A priority claim must be paid in full pursuant to the debtor’s Chapter 13 plan under bankruptcy code section 1322(a)(2), and a priority claim must be paid before any creditors with a lower classification of claim, such as general unsecured creditors. Other benefits accrue to a claimant... --- - Published: 2017-03-27 - Modified: 2024-05-30 - URL: https://www.jayweller.com/exception-to-discharge-in-bankruptcy-for-intentional-torts/ Bankruptcy Code Section 523(a)(6) prevents a debtor from obtaining the discharge of any debt for “willful and malicious injury by the debtor to another entity or to the property of another entity”. There are two prominent interpretations as to how this provision is to be construed. The Ninth Circuit interpretation is that the debtor’s actions “must be accompanied by some form of tortious conduct which gives rise to the willful and malicious injury. ” The Fifth Circuit maintains that tortious conduct is not required and that the creditor must only prove that the debtor intended to injury the other party or if the injury to the other party was substantially certain from the conduct of the debtor. The salient cases that addressed this issue were In re Jercish in the Ninth Circuit and In re Williams in the Fifth Circuit. The differing treatment among these Jurisdictions is at least partly created by the US Supreme Court decision in Kawaauhau v Geiger, which addressed the issue of whether reckless or negligent conduct could prevent the discharge ability of a debt, but did not address the matter of what kind of intentional conduct was necessary to maintain a creditor objection to Discharge under 523(a)(6). Bankruptcy Code Section 523(a)(6) excepts from discharge any debt “for willful and malicious injury by the debtor to another entity or the property of another entity. ” From 1904 to 1998 the United States Supreme Court broadly interpreted “willful and malicious”. To prevent the discharge of a debt, the claimant needed only to prove that the debtor’s action was an intentional and necessarily caused injury. Malice was assumed based upon the argument that an intentional act caused the injury. This standard can be found in the Supreme Court case of Tinker v Colwell in 1904. This nearly century-long interpretation changed in the Geiger decision. In the Geiger decision, the Court entertained whether “a debt arising from a medical malpractice judgment, attributable to negligent or reckless conduct”, would be dischargeable under 523(a)(6) when there was no attendant willful or malicious injury. In Geiger, the patient suffered the amputation of her right leg, below the knee, after receiving treatment from a foot injury. The patient brought suit for malpractice, and the jury subsequently decided that the doctor committed malpractice in his treatment of the patient. Following the verdict of the jury, the doctor filed Chapter 7 Bankruptcy, hoping to Discharge the debt presented by the verdict. The bankruptcy court determined that the debtor’s behavior was willful and malicious because the “treatment fell far below the appropriate standard of care. ” The district court affirmed the bankruptcy court decision but the appellate court reversed the lower court holdings and held that the debt presented by the malpractice claim was dischargeable. The US Supreme Court affirmed the decision of the appellate court, holding that the willful conduct requires a “deliberate or intentional injury, not merely a deliberate or intentional act that leads to injury. ” Furthermore, if Congress intended to “exempt debts... --- - Published: 2017-03-13 - Modified: 2024-05-30 - URL: https://www.jayweller.com/bankruptcy-exceptions-to-discharge/ CREDIT CARDS, CHILD SUPPORT, ALIMONY, STUDENT LOANS, TAX DEBTS, INTENTIONAL TORTS, FRAUD Most debts are eligible for Discharge under the Bankruptcy Code. However, Bankruptcy Code Section 523 lists certain debts that are not discharged in Bankruptcy. Such debts, if unpaid will remain in existence after the completion and Discharge of a Chapter 7 Bankruptcy. These exceptions to Discharge are to be interpreted narrowly and the creditor carries the burden to prove every element of an exception to Discharge by a preponderance of the evidence. When the Bankruptcy Code was enacted, Section 523 contained a limited number of exceptions to Discharge, primarily addressing various forms of wrongdoing, such as intentional torts, fraud, and defalcation. Section 523 has been expanded beyond matters of moral turpitude to include other exceptions which are determined to be not dischargeable based upon the inherent nature of the obligation. These exceptions include domestic support obligations, such as child support or alimony. Other exceptions are most student loans, tax obligations. Congress has determined that the societal interest in preventing the Discharge of such debts is greater than the debtor’s interest in obtaining a fresh start through bankruptcy proceedings. Whereas Section 523 addresses individual debts, Section 727 governs the debtor’s ability to receive a Discharge of the entire Chapter 7 Bankruptcy. Both Section 523 and Section 727 of the Bankruptcy Code may be relevant if a creditor brings an action to prevent the Discharge of certain credit card debts. Bankruptcy Code Section 523(2)(A), (B) and (C) address the circumstances under which credit card debt may be determined to not be Discharged in a Chapter 7 Bankruptcy. Bankruptcy Code Section 523(a)(2) states that debts incurred for “money, property, services or an extension, renewal or refinancing of credit, the extent obtained by false pretenses, a false representation, or actual fraud... . ” are not Discharged in a Chapter 7 Bankruptcy. Furthermore, Bankruptcy Code Section 523(C)(I) states that “consumer debts owed to a single creditor and aggregating more than $500 for luxury goods or services incurred by an individual debtor on or within 90 days before the order for relief under this title are presumed to be nondischargeable. Bankruptcy Code Section 523(C)(II) states that “cash advances aggregating more than $935 that are extensions of consumer credit under an open end credit plan obtained by an individual debtor on or within 70 days before the order for relief under this title, are presumed to be nondischargeable”. Section 523 defines “luxury goods or services” as not including “goods or services reasonably necessary for the support or maintenance of the debtor or a dependent of the debtor”. Generally, a creditor that wishes to challenge the dischargeability of a debt under 523(a) has the burden of proof to show that the debtor knowingly made misrepresentations, the debtor intended to deceive the creditor when making those representations, and the creditor justifiably relied on the representations, which proximately caused the creditor’s damages. However, the disparate courts interpret this general test various widely. The first element of the test... --- - Published: 2017-03-06 - Modified: 2024-05-30 - URL: https://www.jayweller.com/copyrights-in-bankruptcy/ Under bankruptcy law, copyrights and patents are considered assets. An author of a book who has copyrighted such book or a songwriter who has copyrighted his or her song or songs are considered under bankruptcy law, to possess an asset. Depending upon the value of such an asset, a debtor may find such asset sold by the bankruptcy trustee in a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, the bankruptcy trustee will want a determination of the value of the asset. If such asset’s value exceeds the amount prescribed by the applicable State or Federal Exemptions, the debtor may be requested to pay additional monies to his or her unsecured creditors. Copyright law creates arguably, protections to the copyright owner against unauthorized use or his or her creation. The copyright owner can reproduce, exhibit or display his or her work, to create derivative work from the original, through the US court system, seek redress against those who exercise the rights of the copyright owner stated above, without the license or permission of the copyright owner. The copyright owner may grant numerous licenses, such as a mechanical license to record music onto a CD or other platform, a license to sell copyrighted materials, and a license authorizing the personal use of the artist’s copyrighted material. A famous bankruptcy case involving the copyrighted musical material of a debtor was the Chapter 7 bankruptcy filing of Toni Braxton. Ms. Braxton filed bankruptcy in California in 2010. The bankruptcy trustee entered the rights to 27 of her songs for auction, in 2013. It appears that the bankruptcy trustee offered Ms. Braxton the opportunity of a “buy-back”, where the debtor essentially buys back his or her own asset or property, by paying the bankruptcy trustee a sum of money. The buy-back was for $20,000. Evidently, another party ultimately acquired the copyrights to 27 of Ms. Braxton’s songs. This party now has the right to not only receive royalty payments from Ms. Braxton’s songs but also can market or use the songs in any way deemed appropriate or profitable. Death Row Records, once arguably the most influential rap labels, with artists such Tupac Shakur, Snoop Dogg and Dr. Dre, filed for bankruptcy in April of 2006. The documents filed in the bankruptcy court claimed that the Death Row catalog contained over 10. 000 recordings from such popular artists, and others. In the Death Row bankruptcy, Entertainment One Limited filed an initial bid of $23 million for the catalog. In another bankruptcy, IPIX Corporation filed for Chapter 7 bankruptcy in 2006. IPIX held more than 50 patents relating to imaging technology. Eventually, Sony Corporation purchased the patents for $3. 6 million in 2007. Most creative works do not demand the prices bid in the Death Row Records case, or the IPIX matter. Many songwriters or writers of books will copyright their creative product but realize very little or nothing in terms of a monetary return on their creation. In such cases, although the copyright or patent... --- - Published: 2017-02-06 - Modified: 2024-05-30 - URL: https://www.jayweller.com/alternatives-to-bankruptcy/ What are some alternatives to filing bankruptcy, asks John W of Clearwater, Florida. The bankruptcy attorneys and counselors at Weller Legal Group are experienced and knowledgeable in not only bankruptcy law and its procedures, but additionally in the numerous alternatives to bankruptcy. Our law offices offer many alternatives to bankruptcy. Credit card debt and other unsecured debt obligations are common to the clients who approach our offices. One alternative to bankruptcy is debt settlement. There are many debt settlement companies that the reader probably has seen advertised on television and other mediums. The problem with many of these debt settlement companies is evident to the many clients who enter our offices with stories replete with the difficulties they encountered with such companies. First, many of these debt settlement companies operate in a fraudulent manner. Second, even if the company operates with the intention of actually helping its customers, the manner or procedure in which they settle debt often creates problems for the very persons they seek to assist. Typically, these debt settlement companies will request a monthly payment from their customers. They promise that when sufficient funds are acquired through such a monthly payment, the debt settlement company will then begin the process of offering a settlement to the unsecured creditor. The problem is that the monthly payment generally required of their customer is an amount that requires the customer to pay for many months and sometimes, years. By the time enough funds are accrued by the debt settlement company, the client is often facing actual litigation and lawsuits by his or her creditors. Once an unsecured obligation, such as a credit card enters the realm of a lawsuit, such litigation usually precludes any meaningful settlement. The attorney representing the plaintiff is hired to prosecute a lawsuit and obtain a judgment against the defendant. Such attorney is not particularly interested in a settlement with the defendant. When such litigation ensues, typically the debt settlement company will sever its relationship with the customer. The debt settlement company is not equipped to represent such customer in any form of litigation. The debt settlement company is not an attorney. Furthermore, the debt settlement understands the basic view of the plaintiff attorney mentioned in the prior paragraph. When such relationship is severed by the debt settlement company, it is common for such company to retain most or all of the monies its customer tender for the settlement of his or her debts. The proper manner to settle any unsecured debts is for the debtor to tender approximately 40% to 60% of the total balances owed on such debts within four to six months of the original delinquency on such debts. For example, if the debtor owes $20,000 on his or her credit cards, and wishes to settle such debts, the debtor will need at least $8,000 to $12,000, within four to six months of the original delinquency in order to achieve a successful debt settlement. If the debtor will not have such funds or... --- - Published: 2017-02-01 - Modified: 2024-05-30 - URL: https://www.jayweller.com/do-i-qualify-for-bankruptcy-chapter-7/ Do I qualify for Chapter 7 bankruptcy is one of the most common search terms by those investigating the possibility of filing for bankruptcy, as determined by the Google search engine. In determining whether one is eligible to file a Chapter 7 bankruptcy, there are a number of criteria to consider. First, what is the income of the debtor? If a debtor or debtors have median household income that significantly exceeds the amounts determined by the Department of Justice, as determined by the debtor or debtors’ size of their household, then it is likely that Chapter 7 bankruptcy is not an available option. The median income is determined through the compilation of census bureau data, and is adjusted for inflation. For example, at the time of the writing of this article, the median income in the State of Florida for a one person household is $44,021, for a two person household is $54,655, for three persons the median income is $59,881, and for four persons, $71,480. If the reader is contemplating that these figures are arbitrary and irrational, then he or she is probably correct. Why would a three person household necessarily have more income than a one or two person household? Why would a one person household be determined to be eligible for a Chapter 7 bankruptcy based upon an annual income of $44,021 but a two person household be eligible for bankruptcy with an annual income of $54,655? Does a one person household require a full $44,021 to maintain his or her basic standard of living but a two person household only require an additional $10,000 more income? Furthermore, does a three person household only require approximately $5,000 more income to meet their basic needs ($59,881) than the two person household? Many four person households may only have one or two wage earners, and the remaining members are children or dependants. The median income for a four person household is $71,480. The children would typically bring no income to the household. Why would a four person household then be determined to have a higher median income than a one person household with a single wage earner and no children? Such determinations appear illogical and irrational because they are illogical and irrational. However, that is the determination made by Congress in the 2005 bankruptcy law that significantly changed how the process of bankruptcy is administered. In determining the size of the household, it is not typically necessary that the adult members of the household be married. Sometimes, adult children can be included in the determination of family size, particularly when such adult children are disabled and unable to work. The determination of family size appears to vary depending upon the jurisdiction in which the Chapter 7 bankruptcy is contemplated to be filed. It is best to confer with an experienced and knowledgeable bankruptcy attorney when one is formulating a strategy which includes the possibility of filing a Chapter 7 bankruptcy. Bankruptcy law is becoming progressively more complicated, and the... --- - Published: 2017-01-30 - Modified: 2024-05-30 - URL: https://www.jayweller.com/cosigner-liability-on-student-loans-chapter-13-bankruptcy-and-negative-credit-remarks-part-ii/ When the cosigner of a student loan files Chapter 13 bankruptcy such debtor will often offer to pay a portion of the student loan through the Chapter 13 plan. In the example posed in Part I, the debtor offered to pay 50% of the student loan through the Chapter 13 plan. Assuming the borrower has made no additional payments on the student loan within the duration of the debtor’s Chapter 13 bankruptcy, the remaining balance on the student loan will be $10,000 together with additional interest and charges. Upon discharge of the Chapter 13 bankruptcy, and absent any effort of the borrower to render payments on such loan, the cosigner will have continuing liability on the remaining, unpaid portion of the student loan. Student loans are usually place in a forbearance status within the duration of the Chapter 13 bankruptcy. Sometimes, lenders or servicers will make it difficult for borrowers or cosigners to enter IBR plans or other programs in an effort to remain current on their student loans during the pendency of the Chapter 13 bankruptcy. The Department of Education (DOE) currently has no clear policy pertaining to student loan servicing for borrowers during the pendency of a Chapter 13 bankruptcy. A Federal Family Education Loan (FFEL) Program regulation provides that if the lender is notified that a borrower has filed a bankruptcy petition, the lender must suspend any collection efforts against the borrower outside the bankruptcy. However, there is no policy addressing how a student loan should be serviced during the three to five year period in which a borrower is involved in a Chapter 13 bankruptcy. The policy only states that such lenders or services should file a proof of claim if the borrower is in a Chapter 13 bankruptcy. The policy does not address what the holder or servicer should do when payments are received. Additionally, there appears to be no mention of how lenders or servicers should address the Chapter 13 debtor who is a cosigner on a student loan obligation. Often, private student loans required cosigners, and the student loan contracts provide that the filing of the bankruptcy by the borrower or any co-borrower constitutes a default, which forces the acceleration of the student loan. In some instances, a cosigner on a student loan who files Chapter 13 bankruptcy may discover that, absent the tendering of the appropriate student loan payment by the borrower, the lender or servicer has reported that the student loan is in default, to the credit reporting agency. A similar action may occur to the borrower on the student loan who is paying some portion of the student loan through a Chapter 13 bankruptcy. It is the view of the writer that such negative remarks on the credit report of the cosigner who files Chapter 13 bankruptcy violate several key provisions of the Bankruptcy Code. Section 365(e) of the Bankruptcy Code addresses whether such bankruptcy clauses are enforceable in bankruptcy. Bankruptcy Code Section 365(e) clearly provides that such clauses are... --- - Published: 2017-01-24 - Modified: 2024-05-30 - URL: https://www.jayweller.com/cosigner-liability-on-student-loans-and-chapter-13-bankruptcy-part-i/ It is increasingly difficult for those who wish to earn a college degree to finance such education without incurring student loans. The introduction and proliferation of student loans as a mechanism for the funding of students’ secondary education is in fact, the primary mechanism for the rapidly escalating costs of such pursuits. Government involvement in the funding of student loans is the primary cause of the outrageous costs of secondary education. A circular process occurs. Student loans create the high price of a secondary education. The high price of a secondary education means that most students are not able to finance such pursuit without incurring student loans. Therefore, such students, in order to pursue a secondary education necessarily must incur additional student loan debt. And so, the circle continues and expands. Often, parents are enlisted as cosigners on the student loans incurred by their child or children. Increasingly, often such children default upon such student loan obligations upon their exit from such secondary educational pursuits. What is a parent to do when the student loan lenders or servicers thereafter seek compensation from the parent or cosigner? The options are limited. One may seek a release from the student loan obligation. However, most student loan programs requiring a cosigner are private student loans. A report by the Consumer Financial Protection Bureau found that 90% of private student loan borrowers who applied for a cosigner release were rejected. For federal student loans, a cosigner is generally only required when borrowers are applying for parents Plus Loans. A subsequent article in this series will discuss releases of cosigner liability from such student loans. A cosigner may also be removed from liability on a student loan if the student loan is satisfied, or paid, by paying off the original loan or refinancing, with a subsequent loan. This may not be an available option to many borrowers or cosigners. In bankruptcy, the borrower or the cosigner can seek the discharge of the student loan upon a showing of undue hardship. Most bankruptcy courts in determining undue hardship apply the Brunner test. How the Brunner test is applied varies among jurisdictions. It is generally very difficult to discharge student loans through bankruptcy. However, numerous debtors have obtained such discharges, based on the particular facts of their cases. One’s ability to discharge student loans in bankruptcy is a fact-based determination. If a cosigner files Chapter 13 bankruptcy, such debtor may pay either a portion of the student loan, or even the totality of the student loan, through the bankruptcy, or the Chapter 13 plan. Generally, student loans are paid in equal proportion to other unsecured creditors, according to the pro rata amounts of each of the creditors. For example, a debtor has $20,000 in credit card debt, and cosigner liability on $20,000 in student loans, and the chapter 13 plan proposes to pay $10,000 to the unsecured creditors. The credit card creditors will receive $10,000 or 50% of the total credit card debt, and the student loan... --- - Published: 2017-01-23 - Modified: 2024-05-30 - URL: https://www.jayweller.com/how-do-i-file-for-bankruptcy/ How do I file for bankruptcy is a common search term on Google and other search engines. If one files either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy, one may either represent oneself, pro se or enlist the services of a bankruptcy attorney or bankruptcy lawyer. Chapter 7 and Chapter 13 bankruptcy are the two most commonly filed forms of bankruptcy. Currently, the filing fee for a Chapter 7 bankruptcy is $335. 00 and the filing fee for a Chapter 13 bankruptcy is $310. 00. In addition, the debtor must generally obtain a credit counseling certificate before filing either form of bankruptcy. The certificate may be obtained by contacting any of a number of organizations that are authorized to provide such certificate. The fee charged by these organizations currently range from a low price of $14. 95 to as much as $100. 00. This certificate requirement is one of the manifestations of the 2005 Bankruptcy Act. After the filing of the bankruptcy, one must generally also obtain what is termed a debtor education certificate. Again, there is a range of prices depending upon what authorized provider you use. If you are required by the 2005 Bankruptcy Act to obtain these certificates, it is important that this requirement is not neglected. A study was conducted finding that more than 99. 9% of the debtors in bankruptcy seeking such certificates were able to obtain such certificates. However, if one does not obtain such certificates, if required, either the initial filing of the bankruptcy can be disavowed by the bankruptcy court, or a discharge may be denied. If a bankruptcy is denied because a debtor has not obtained the debtor education certificate, the debtor is not afforded the benefit of a bankruptcy discharge. The discharge is withheld. In order to obtain the discharge in bankruptcy, the debtor may be required to reopen the bankruptcy, complete the debtor education certificate, and thereafter obtain his or her discharge in bankruptcy. This can be an expensive proposition. The reopening of a bankruptcy may cost as much as a thousand dollars. The fee for a debtor education certificate may be as low as $20, depending upon the fees of the provider. In addition to the filing fee, the debtor in bankruptcy must submit a bankruptcy petition to the bankruptcy court. The bankruptcy petition in a Chapter 7 bankruptcy or a Chapter 13 bankruptcy contains a list of schedules. For example Schedule A lists any real estate or real property that the debtor may own or have an interest, Schedule B lists personal property that the debtor owns, Schedule C lists exemptions that the debtors are claiming, Schedule D lists secured debts that the debtor has, Schedule E lists priority debts, and Schedule F lists unsecured debts. The schedules continue and terminate at Schedule J, which lists the expenses of the debtor. The bankruptcy petition filed in Chapter 7 and a Chapter 13 bankruptcy are predominantly similar. However, the Chapter 13 bankruptcy must also contain a... --- - Published: 2017-01-19 - Modified: 2024-05-30 - URL: https://www.jayweller.com/bankruptcy-lawyers-for-low-income/ The search term bankruptcy lawyers for low income is one of the main selections one finds when typing in the keyword bankruptcy attorney or bankruptcy lawyer. This suggests that a significant portion of those seeking a bankruptcy attorney or bankruptcy lawyer, either consider themselves of low income or are seeking representation in bankruptcy, but have constrained income. There are legal services that are specifically designed to assist those with low or no income. Bay Area Legal Services often provides attorney representation to persons who are unable to pay for an attorney. In my opinion, the services provided by such legal services are often quite competent, and having known a number of attorneys who have been employed by such services or programs, the qualifications and knowledge of such attorneys are also adequate, and often, exemplary. In matters of bankruptcy, there are no free legal services available to serve those who file bankruptcy, or seek representation in bankruptcy proceedings. Often, for those who file bankruptcy, and either cannot afford an attorney, or surmise that they cannot afford an attorney, such debtors will either not seek the possible protections provided by the bankruptcy courts, or represent themselves, pro se. Any person in the United States does have the right to represent themselves, in a court of law, without representation of an attorney. There are certain exceptions to this general rule, as in cases where a defendant in a criminal matter is deemed incompetent, and unable to represent him or herself. Also, a principle owner of a corporation often may be required to solicit the services of an attorney to represent the corporation in various legal matters. However, in most cases, an individual may be permitted to represent him or herself in a panoply of legal matters and proceedings. This general rule also applies to debtors who file bankruptcy in the bankruptcy courts. There is no prohibition against a competent debtor providing his or her own representation. However, the filing and prosecution of a bankruptcy is becoming progressively more complicated. The “reform” of the bankruptcy laws in 2005 created many layers of complexity to the process of seeking redress in the bankruptcy courts. Since 2005, the US Trustee’ s office, in alignment with the bankruptcy judges, and administrators, have progressively created an environment wherein the debtor seeking relief through the bankruptcy courts and bankruptcy laws, are met with a growing number of hurdles and difficulties. Therefore, while a debtor may represent him or herself in a bankruptcy, such a debtor is certain to confront many difficulties, and unexpected issues and problems. Learning and understanding the numerous complexities of bankruptcy law is a difficult task for a dedicated and competent practitioner of bankruptcy law. For an individual seeking to represent him or herself in the bankruptcy courts, such an endeavor is practically impossible. An attorney is a member of a profession. There are only a few professions that are present in our modern society. Medical doctors are one profession, law enforcement officers another, and military... --- - Published: 2017-01-16 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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 of debt, such as cell phone bills, deficiencies on automobile repossessions, et cetera. Chapter 9 is a form of Bankruptcy wherein a municipality can seek to reorganize its debts. There should be an escalating number of Chapter 9 Bankruptcies in the future; as such municipalities find they cannot deliver on employee retirement pensions and other obligations. Chapter 13 is a reorganization of the debts of an individual or wage earner. Chapter 12 is a reorganization of the debts of a family farmer or fisherman. Chapter 11 also provides for the reorganization of debt. While a corporation cannot file a Chapter 13 Bankruptcy, either a corporation or an individual can file a Chapter 11 Bankruptcy. Sometimes, an individual will file a Chapter 11 Bankruptcy if the debts he or she incurred exceed the debt limits permitted under Chapter 13 Bankruptcy. A number of our clients who have small businesses that are incorporated are under the impression that because their business is incorporated, and wish to reorganize their debts, they are only eligible to file a Chapter 11 Bankruptcy. This is technically correct. However, for most small businesses, the attorney fees and costs associated with the filing and continuation of a Chapter 11 Bankruptcy may be unduly onerous. A business owner may have incorporated his business but has few business assets. For example, say a man has an independent carpentry and maintenance business, which is incorporated. He may have a work van to transport himself and his tools to whatever location desires his services. The work tools may entail basic saws, carpentry horses, a ladder, various hand tools and accouterments necessary to provide what could be deemed carpentry or handyman services. The real liquidation value of this man’s tools may be about $5,000, and his van perhaps another $5,000. The total liquidation value of this man’s van and tools are then $10,000. Because the man has a small business, any credit cards that name the corporation also possess personal liability to the man, the debtor. In order to avoid the costs and complexity of a Chapter 11 Bankruptcy, the man may decide to transfer the corporate assets, meaning the truck and tools, to himself personally, and dissolve the corporation. All debts will flow to the man, personally. The man, as an individual, operating as a dba (doing business as), then is eligible to file a Chapter 13 Bankruptcy. In some ways, this is a tricky and complicated procedure. Such a technique should be conducted carefully. This procedure... --- - Published: 2017-01-11 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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 certain Exemptions. Exemptions are provisions of either State or Federal Law, that determine what assets the debtor may retain, free from seizure by the Bankruptcy Trustee, or free from a determination in a Chapter 13 Bankruptcy, that the debtor must pay additional monies to the Chapter 13 Trustee, in recognition of the non-exempt portions of such assets. For example, a debtor who owns an automobile, in Florida, is generally permitted an Exemption of $1,000. If the debtor owns a Homestead, that is the limit of the Exemption under the Florida Exemption Statutes. If the debtor does not own a Homestead in the State of Florida, or otherwise decides to surrender such property through the Bankruptcy, the debtor is afforded a super-exemption, which greatly expands the protection of the automobile asset. There are a myriad of Exemptions that the Chapter 7 Debtor may employ in the protection of his or her assets. The Homestead Exemption, the Automobile Exemption, and the Personal Property Exemption are the most commonly used Exemptions. In addition, there is an Exemption that governs retirement accounts, and other less commonly used Exemptions. One may file and receive a Discharge in a Chapter 7 Bankruptcy every 8 years. The 8 year term runs from the filing of the Chapter 7 Bankruptcy. To qualify for a Chapter 7 Bankruptcy, the debtor or debtors income must generally not exceed the median income of such Debtor or Debtors, as determined by family size. The median income determinations change, depending upon what State the Debtor or Debtors reside. Generally, one files a Chapter 7 Bankruptcy if he or she is seeking to Discharge what are referred to as Unsecured Debts. Unsecured Debts are Debts that are not secured by some form of collateral. An automobile loan is generally a Secured Debt because the Creditor takes a lien upon the automobile as security for the payment of the obligation. If one falls delinquent upon an automobile loan, the Creditor may repossess the automobile, and thereafter, sell the collateral, in order to recapture its losses. An Unsecured Debt has no such security. Forms of unsecured debts include most credit cards, medical bills, cell phone bills, utilities, and repossessed automobiles. Sometimes, tax debts are considered unsecured and dischargeable debts that may be eliminated through the process of a Chapter 7 Bankruptcy. While student loans are considered unsecured debts, such loans are generally not dischargeable in a Chapter 7 Bankruptcy. There are however, exceptions to this standard rule, where student loans may... --- - Published: 2017-01-09 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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 a Chapter 7 bankruptcy or Chapter 13 bankruptcy. The debtor or debtors’ income, the form of income, and family size may determine whether the debtor or debtor may file a Chapter 7 or Chapter 13 bankruptcy. If the income of the debtor exceeds the median income, as determined by his or her family size, the debtor may not be eligible to file a Chapter 7 bankruptcy. However, the debtor may be eligible to file a Chapter 13 bankruptcy. The debtor’s income and expenses will often have a significant impact upon what Chapter 13 payment will be required for a feasible or confirmable plan. However, there are exceptions to even the general determination that a debtor whose income exceeds the median income figure is disqualified from filing a Chapter 7 bankruptcy. The debtor, for example, may have exigent circumstances, such as unusually onerous medical expenses, which may allow him to pursue a successful Chapter 7 bankruptcy. Most bankruptcy attorneys in the Middle District of Florida, Tampa Division (which includes Hillsborough, Pinellas, Pasco, Hernando, Sarasota, Bradenton, and Polk Counties) however, generally charge between $800 to $2,000, to provide representation in a Chapter 7 bankruptcy. In addition, the filing fee for a Chapter 7 bankruptcy, as of the time of this article is $335. The debtor must also obtain a credit counseling certificate in order to file bankruptcy, and the cost of such certificate ranges from a low of approximately $20 to a maximum cost of $100. The cost of the certificate depends upon what issuing organization the debtor uses to obtain the certificate. If there is additional representation required apart from that required to prepare the bankruptcy petition, file such petition, and represent the debtor in the normal course of a chapter 7 bankruptcy, the bankruptcy attorney may charge additional attorney fees. An example is when a creditor files an adversary proceeding contesting the ability of a debtor to discharge a particular debt in his or her bankruptcy. A debtor who chooses the representation of a bankruptcy attorney in defending an adversary proceeding may be requested to pay an additional $2,000 to $5,000 in additional attorney fees, depending on the complexity of the litigation, the experience and expertise of the bankruptcy attorney, and frankly, what fees the particular bankruptcy attorney commands from his clients. In the Middle District of Florida, Tampa Division, the bankruptcy court awards a maximum of $4,250 to the bankruptcy attorney for representation in a Chapter 13 bankruptcy. If the debtor enters the mortgage... --- - Published: 2017-01-03 - Modified: 2024-12-19 - URL: https://www.jayweller.com/executive-deli-cafe-in-clearwater-florida/ LOCATED ON US 19 NORTH The Executive Deli & Café is located at 25400 US 19 North, Suite 205, in Clearwater, Florida. The owners and operators of the Café are Ed Quezada, and his wife, Kellen Quezada. Originally from Worcester, Massachusetts, the Quezadas decided to move to the Clearwater area in 2015, in search of a better quality of life. Ed Quezada was formerly the District Manager of five Dunkin Donut franchises in the Boston area. In September, 2015, the Quezadas began operations at the Executive Deli & Café. The Executive Deli offers a friendly, customer-centered atmosphere, and healthy foods with natural ingredients. The restaurant motto is “Where quality food is served with a smile”. Among the choices available at the Café are a variable of breakfast options, and lunch offerings focusing on sandwiches and wraps, including their own Cuban sandwich, buffalo chicken Panini, club sandwich, the Wisconsin roast beef, a Tex-Mex wrap, chicken avocado burrito, and other varieties. In addition, the Executive Deli offers a number of salad choices including their own chef salad, Greek salad, Garden, and Caesar salad. All of the sandwiches and salads are assembled with natural and fresh ingredients. The smoothies are a popular item at the Café. Among the staples available are the green smoothie with spinach, berry blast, pineapple and mango; and the strawberry banana, strawberry and blueberry and the pineapple and mango smoothies. The Quezadas, however, will make any smoothie to the customer’s specifications. Side items include jersey fries, sweet potato fries, onion rings, chicken tenders, chicken wings, and mozzarella sticks. The potato salad is especially delicious. Desserts include New York style cheese cake, yogurt and fruit parfaits, and a banana boat Sunday. The Café also offers daily specials that often divert from the main offerings presented on the menu. The Quezadas place a large measure of pride in providing good and friendly service to their customers, and in providing food choices that are not only healthy but also delicious to the palate. The Café is generally open Monday through Friday, from 8 AM to 3 PM. If the reader has any questions of the Café, or wishes to place an order in advance, please contact the Café at 727-725-2233. --- - Published: 2016-12-26 - Modified: 2024-05-30 - URL: https://www.jayweller.com/bankruptcy-lawyers-near-me/ Bankruptcy lawyers near me is one of the more commonly used search terms for those seeking a bankruptcy attorney. Our offices are generally located conveniently to those seeking a bankruptcy attorney or lawyer. Weller Legal Group has offices in Clearwater, Port Richey, Brandon and Lakeland, Florida. Each of the offices are located in areas that are not only easily accessible to those living within those communities, but also convenient to those approaching our offices from neighboring locales. Our office in Clearwater is located on US 19 North, South of Enterprise Road and North of Sunset Point Road, on the West side of US 19 North. The Clearwater office is directly across the street from Dimmit Chevrolet. Our office in Port Richey is located in the BB&T bank building, which also fronts the US 19 Highway. The BB&T building is within the heart of what many consider to be the commercial center of Port Richey, Florida. Our office in Brandon is similarly located within the commercial center of Brandon, and our office in Lakeland is located in close proximity to the Polk Parkway, making its location convenient not only to our Lakeland clients but to those who venture to our office from other locations within Polk and Hillsborough Counties. Currently, Weller Legal Group is the one remaining law firm practicing bankruptcy law, which has multiple offices throughout the Tampa Bay region. Our attorneys and counselors have training and experience, not only in matters of bankruptcy, but also in matters relating to debt, such as foreclosure defense, credit repair, credit counseling, mortgage modification, and other associated issues. Mr. Weller’s practice has centered primarily in representation of debtors in bankruptcy, since the inception of his practice, in 1993. Since 1993, Weller Legal Group has representation many thousands of clients in bankruptcy matters, primarily through representation of such clients in Chapter 7 and Chapter 13 bankruptcy. Our law firm has additionally representation thousands of clients in foreclosure defense, and other avenues relating to debt. The concept applied by our office is that almost any client seeking representation for issues relating to debt, may find assistance through our office, through a program tailored to their needs. However, the majority of our clients tend to find solution to their debt issues through the filing of either a Chapter 7 or Chapter 13 bankruptcy. Chapter 7 bankruptcy is often referred to as a straight bankruptcy or straight liquidation. Despite its name, very few of our clients who file Chapter 7 bankruptcy suffer the liquidation of their assets. Chapter 13 bankruptcy is sometimes referred to as a debt reorganization or debt consolidation. Chapter 13 bankruptcy typically involves the repayment of the debts of the debtor over a period of time that does not exceed 60 months. Whether one files bankruptcy, or files a Chapter 7 or Chapter 13 bankruptcy, depends upon a number of factors. A meeting with our bankruptcy attorney can help you determine which approach is most beneficial, or available, based upon the particular facts of... --- - Published: 2016-12-20 - Modified: 2024-05-30 - URL: https://www.jayweller.com/university-of-minnesota-eeoc-report-on-football-players-rape-allegations/ The University of Minnesota conducted its own investigation of the football players who are alleged to have participated in the sexual assault of the 22 year old female college student, on September 2, 2016. The University’s Office of Equal Opportunity and Affirmative Action (EOAA) after a federally mandated investigation, compiled an 82 page report, which aggregates the accusations against the players alleged to have participated in the sexual assault. The EEOA report varies dramatically from the report delivered by the Minneapolis Police Department, which found, in conjunction with the Hannepin County Attorneys Office, and the HCOA Sex Crimes Team, that there was no probable cause to bring charges against the football players alleged to have participated in the sexual assault of the female student. The players accused in the report were administered various forms of punishment by the University. Expulsion was recommended for five players; Ray Buford, Carlton Djam, KiAnte Hardin, Dior Johnson, and Tamarion Johnson. The Office also recommended a one year suspension or probation for Seth Green, Kobe McCrary, Mark Williams, Antoine Winfield, Jr, and Antonio Shenault. Based upon the report, the University’s Athletics Director and President made a joint decision to suspend all 10 football players. Led by Drew Wolitarsky, a senior wide receiver on the team, the players united in a boycott, maintaining that all the players on the team agreed they would not participate in further team activities, including the Holiday Bowl against Washington State, on December 27, 2016, if such sanctions were not lifted. The players’ central argument appeared to be that such boycott was warranted, because the accused players were not afforded a proper hearing and due process, to defend against the claims rendered against them. A meeting between University President Eric Kaler and team leaders appears to have prompted the team to decide to abandon the boycott. Numerous reports indicate that the team leaders were presented the EEOC report prepared by the University investigators, at that meeting. Such reports speculate that the contents of the report ultimately were the main impetus for the dissolution of the boycott. The EEOC report, which was leaked to KSTP-TV, offers the most detailed descriptions of the encounter between the female student, and the accused players. Below is a link to the EEOC report and the police report prepared by members of the Minneapolis Police Department assigned to investigate. The Minneapolis Police Department report was compiled by the reporting officer, Sherral Schmidt, supervising officer, David Hansen, investigators, Eric Fauleoner and Matthew Wente. The decision to not bring criminal charges was made by the Hennepin County Attorneys Office, with the participation of Therese Galalowitsch, who is the supervisor of the HCAO Sex Crimes Team. Based upon the horrific description of the events of September 2 contained in the EEOC report, which appears much more detailed and extensive than the investigation committed by the Minneapolis Police Department, one can reasonably assume that criminal charges against at least ten of the football players may be forthcoming. Here is a link... --- - Published: 2016-12-19 - Modified: 2024-05-30 - URL: https://www.jayweller.com/involuntary-servitude-traditional-slavery-and-debt-slavery-slavery-for-the-modern-times-part-5/ So, continues the debt train. Choo-choo! Today, 70% of automobile purchases involve financing through an automobile loan. In addition, the lengths of automobile loans have gotten progressively longer. 45% of automobile loans are more than 6 years in duration. 45% of automobile loans are issued to what are classified as subprime borrowers. Mortgage debt in the United States is approximately 5 times larger than 20 years ago. Mortgage debt as a percentage of Gross Domestic Product has more than tripled since 1955, at least 8 million Americans are at least one payment behind on their mortgages, and 29% of all homes are underwater, meaning the mortgage balance exceeds the value of their home. Approximately 41% of all working age Americans have problems with medical debt or are attempting to pay off their medical bills. According to the American Journal of Medicine, medical bills are a significant factor in more than 60% of personal bankruptcies. Of the bankruptcies prompted by medical bills, 75% involved persons that had health insurance. All of these problems were accentuated by Obamacare, which imposed penalties on the taxpaying Americans who do not have health insurance, or who were no longer able to afford health insurance because of, you guessed it, Obamacare. Furthermore, the predatory medical care system in the United States provides substandard care at Cadillac prices. Government policies act to stymie real competition among medical providers. Most doctors and hospitals will not reveal the cost of their treatment until after the treatment is rendered. The arrogance and insanity of this billing practice are obvious. Imagine filling your gas tank and the attendant subsequently informing you that a tank full of gasoline costs $10,000 and if you do not fork over that amount, the gas station will harass you, possibly sue you, and garnish your wages, or seize your assets and personal property. The total student loan debt in the United States is approximate $1 trillion dollars. Approximately 2/3s of all college students graduate with student loan debt. After adjusting for inflation, US college students are borrowing twice as much as they did a decade ago, with an average student loan debt of about $25,000. Furthermore, roughly 23% of college students use credit cards to help pay for tuition, fees, and other costs associated with their secondary education. The student loan default rate has doubled since 2005. Government participation in the funding of secondary education is, in fact, the main reason for the rapidly escalating cost of such education. For example, if the average college student in the United States was able to pay to say $500 per month for his or her education, through either family savings, earning from his or her own employment, or other private manners, the secondary education providers would necessarily need to manage their costs to reflect that contribution from its students. Most colleges that were unable to control their costs would necessarily seize to exist. By providing student loans of an additional $500 per month, for example, the same fiscal... --- - Published: 2016-12-19 - Modified: 2024-05-30 - URL: https://www.jayweller.com/bankruptcy-information/ For those seeking bankruptcy information, the website of Weller Legal Group is arguably the largest source of bankruptcy information in these United States. This website, spanning well over one thousand pages, addresses every conceivable issue relating to bankruptcy and bankruptcy law. The main portion of the website contains information relating to Chapter 7, Chapter 13, Chapter 12, and Chapter 11 bankruptcy. Some of our clients tell us that they have read every page of the website, which seems to be an almost impossible task. This author often tells our clients that if they were to read and comprehend every portion of materials available on our website, they would know more about bankruptcy law than the majority of attorneys practicing bankruptcy law. It is uncertain whether such a statement is a testament to the benefits and information presented by the website or an indictment of the low level of expertise exhibited by such attorneys who practice bankruptcy law. In addition, Weller Legal Group provides a least two articles per week, also available through the blog portion of the website, that address issues generally relating to bankruptcy law. Much effort is placed in creating and arranging these articles, in order that such articles provide useful information not only to our clients but to various persons who are investigating or studying matters relating to bankruptcy law and debt. Weller Legal Group primarily practices bankruptcy law and represents only debtors. Our bankruptcy attorneys and counselors, however, are also trained and experienced in other matters relating to debt, such as credit counseling, credit repair, foreclosure defense, and mortgage modification and mediation. The concept presented by our office is that if one is confronted with any issue relating to debt, we have a program, and often a solution, to address that issue. In addition, Weller Legal has offices throughout the Tampa Bay area, including Brandon, Clearwater, Port Richey and Lakeland. All offices are conveniently located in those cities, and in addition, are easily accessible to those outside those cities, who wish to obtain the services of our law firm. If you are considering whether to file bankruptcy, there are two main forms of bankruptcy that are generally available to the majority of debtors who so file. Chapter 7 Bankruptcy is also called a straight bankruptcy or a straight liquidation. In a Chapter 7 Bankruptcy, most of our clients are able to retain most or all of their assets and obtain the elimination or discharge of their unsecured debts. Unsecured debts include credit cards, medical bills, signature loans, and other forms of debts that are not secured, or collateralized. Chapter 13 bankruptcy is sometimes called a wage earner's plan, a debt consolidation or a debt reorganization. Chapter 13 bankruptcy is often used by debtors seeking to stop a foreclosure on their home, or repossession of their automobile, for example, because a Chapter 13 bankruptcy will stop a creditor from taking or seizing such assets of the debtor, and permit the debtor to pay back any arrearages owed... --- - Published: 2016-12-13 - Modified: 2024-05-30 - URL: https://www.jayweller.com/debt-slavery-replacement-of-involuntary-servitude-and-traditional-slavery-dynamics-of-debt-slavery-part-4/ Involuntary servitude and traditional slavery, as it is widely understood, is largely absent from modern America. However, debt slavery is not only present in these United States, but is a main foundation on which American society exists. Furthermore, most Americans not only are subject to this system, but have also willingly permitted themselves to be become so enslaved. The majority of Americans are either in debt, are accumulating more debt, or attempting to pay off debts that were in the past accumulated. This private form of debt consists of credit cards, medical bills, home mortgage and automobile payments, and other types of debt. Furthermore, anyone who participates in the larger economy, and even those who don’t, are to a larger or lesser degree, subject to the debt imposed by the local and national government. It is practically impossible to escape the various forms of taxation that is imposed upon the inhabitants of the United States. If one lives in a home or rents an apartment, one directly or indirectly must pay property taxes. Refusal to pay such a tax could eventually lead to ones removal from one’s house or other dwelling. Property taxes are primarily used to fund the local schools, police and fire departments. The primary education system is, in fact, the largest consumer of tax dollars, exceeding the military and all other governmental entities. One has to wonder how beneficial is the use of tax dollars to finance such an institution, when the average primary school student in the United States, is deficient, when compared to other industrialized nations, in the matters of mathematics, reading, and science. The literacy rate in the United States is actually lower today than before the creation of public education. Not only was the literacy rate higher, but the level of literacy was measurably superior to that held today by the average person in this United States. The United States Constitution forbids the government from exercising something called double jeopardy. Double jeopardy holds that a citizen may not be prosecuted, fined, imprisoned, or otherwise punished, twice, for an identical offence or action. Double jeopardy is usually applied to criminal offenses. For example, if one is charged with murder, and a jury determines that you are innocent of such offense, the State cannot prosecute such person continually for the same offense. Most people do not realize that the double jeopardy protection only applies if such person is found innocent by every member of the jury. If even one person on the jury determines that such person is guilty, the State may subsequently prosecute such person as many times as it so chooses, until a subsequent jury unanimously determines that such person is not guilty, or innocent, of such charges. Many courts have determined that double jeopardy does not apply to civil matters. But, it should. Property taxes that are applied to the citizenry on an annual basis are a form of double jeopardy, or punishment through taxation. Why should one be required to pay... --- - Published: 2016-12-12 - Modified: 2024-05-30 - URL: https://www.jayweller.com/debt-slavery-replacement-of-involuntary-servitude-and-traditional-slavery-slavery-for-the-modern-times-part-3/ This author posits that there are three distinct forms of slavery. To make clear, it is the opinion of this author that the most insidious form of slavery is the traditional definition of slavery. The traditional form of slavery describes a practice where a person or persons are involuntarily captured or imprisoned and forced to perform services or labor for the benefit of his or her captors. Although it is arguable that the Colonial populations that were indentured servants were treated in many cases more harshly than those enslaved according to the traditional definition of slavery, the indentured servants were generally forced to labor for a defined term of years. Yes, many died before the expiration of their term of service, but such indentured servants at least had the opportunity for freedom for themselves and their children. The traditional slaves were afforded no such opportunity. The thirteenth Amendment to the United States Constitution prohibits both the traditional form of slavery and involuntary servitude. However, in modern America, these forms of slavery have been replaced by what this author describes as debt slavery. Debt slavery is very similar to involuntary servitude and many examiners of these practices could logically argue that such forms are synonymous. However, involuntary servitude and modern debt slavery differ for a number of reasons. First, involuntary servitude is as it is named, is a circumstance wherein a person is forced, involuntary, to perform labor in order to pay a certain debt. In the United States, the involuntary servitude has indeed been banished, because a person who owes debts to a creditor, or even the government, is not generally forced to perform labor in order to satisfy such debts. In some cases, such as non-payment of child support, or through a governing entities definition of tax fraud, one may become imprisoned, fined, or otherwise harassed. A creditor may bring legal action to attempt to collect a debt. However, generally, one cannot be either imprisoned or forced to perform labor in order to satisfy a debt. The justification for imprisoning persons for “income tax fraud” is that the governing body determines to be a fraudulent representation in the income tax documents submitted to the governing body. A person may simply file a tax return, accurately represent his true financial conditions, but not pay such taxes, and probably avoid a term in prison. The governing entity may harass such a debtor, may even fine, or levy the wages or property of such debtor, but typically has no authority to either imprison such debtor or force the debtor to perform labor to satisfy what is deemed to be his or her income tax obligation. Similarly, a debtor may be imprisoned for failure to pay child support, but one defense that enjoins the State for imprisoning such a debtor is a financial inability to pay such support. The thirteenth Amendment protects such debtors from such governmental actions. Furthermore, a creditor can garnish the wages or attach the property of a debtor to... --- - Published: 2016-12-08 - Modified: 2024-05-30 - URL: https://www.jayweller.com/debt-slavery-replacement-of-traditional-slavery-and-involuntary-servitude-part-2/ It is evident that the Civil War in the United States was waged, primarily to preserve the Union, and establish the supremacy of the Federal Government over the individual States. Slavery, as traditionally practiced, was diminishing in the United States, including the South. The African slaves were first introduced into the United States in 1618. At this time white slaves outnumbered black slaves by a ratio of four to one. Between 33% to 50% of the immigrants to Colonial America were indentured servants. At the height of indentured servitude, such persons comprised up to 75% of the population. An indentured servant is a person who is forced into servitude by virtue of a debt or debts owed to a creditor. In Colonial times, such persons were either thrown into what is referred to as a debtor prison, or they were forced to pay off their debts to their creditor by performing physical labor. An indentured servant was typically forced to serve for a period of 2 to 7 years. If the indentured servant was a child, then the child was forced to serve until the age of 21. 40% of the indentured servants died before serving their term. Although the law mandated that the holder of an indentured servant was to provide the servant food, shelter and clothing, such provisions were substandard, as compared to the general population. The indentured servant was treated as poorly, as worse, than the slaves. The indentured servant, however, had one advantage over a slave. The indentured servant was usually prescribed to serve for a defined term of years, where a slave was typically assigned as a slave during his or her entire lifetime. However, slavery at the time of the Civil War was already in decline. There are numerous reasons for the decline of traditional slavery in the United States. Advances in technology and machinery, including in agricultural production, created less demand for such labor. Also, there appeared to be a growing awareness among the population that slavery and indentured servitude were unjust practices. However, another factor that is seldom discussed, may have led to the decline of the practice of slavery in the United States. Slaves were expensive. According to some historians, in 1850, the average slave cost approximately $48,000 in today’s money. A prime field hand to a skilled slave such as a blacksmith, cost between $30,000 to $60,000. For reference, in 1860, a horse cost about $10 to $25, land cost about $3 to $5 per acre, and a slave cost about $800 to $1,000. In 1860, a blacksmith working a 60 hour work week made about $10. 68, a carpenter about $10. 92, and a laborer about $5. 98. Because of the high relative cost of purchasing a slave, slaves were often treated better than the relatively inexpensive indentured servants. In addition to the high initial investment of purchasing a slave, a slave owner was mandated by law to provide for the shelter, food, clothing and medical needs of the... --- - Published: 2016-12-05 - Modified: 2024-05-30 - URL: https://www.jayweller.com/debt-slavery-replacement-of-traditional-slavery-and-involuntary-servitude-and-the-real-reason-for-the-civil-war-part-i/ The Civil War was an enormously destructive period in American History. Many lives were lost in the War between the Union and Confederate Forces. Contrary to what the readers are typically taught in the primary and secondary educational institutions in the United States, the primary purpose of the Civil War was not to end of scourge of human slavery, but to maintain the Union, and to establish and enhance the supremacy of the National or Federal Government, over the individual States. Furthermore, slavery, as it is traditionally defined and described, may not have ended in the United States because of the growing realization of its evils, but because a more efficient form of slavery may have become evident to the governing elites. This Article is the opinion of the Author, based upon certain facts and the Author’s own interpretations. Like most opinions, such assertions may change upon the furnishing of new information and analysis. Abraham Lincoln, on August 22, 1862, wrote a letter to Horace Greeley, an Abolitionist, and Editor of the New York Tribune. Horace Greeley criticized Lincoln for his soft treatment of slaveholders and his unwillingness to enforce the Confiscation Act, which enabled the Union Forces to confiscate property, including slaves, of the Confederates. Abraham Lincoln letter to Horace Greeley: As to the policy I “seem to be pursuing” as you say, I have not meant to leave anyone in doubt. I would save the Union. I would save it the shortest way under the Constitution. The sooner the national authority can be restored; the nearer the Union will be “the Union as it was”. If there be those who would not save the Union, unless they could at the same time save slavery, I do not agree with them. My paramount object in this struggle is to save the Union, and it is not either to save or to destroy slavery. If I could save the Union without freeing any slave I would do it, and if I could save it by freeing all the slaves I would do it, and if I could save it by freeing some and leaving other alone I would also do that. What I do about slavery and the colored race, I do because I believe it helps to save the Union; and what I forbear, I forbear because I do not believe it would help to save the Union. Lincoln finishes his letter to Greeley by writing, “I have here stated my purpose according to my view of official duty; and I intend no modification of my oft-expressed personal wish that all men everywhere could be free”. The final sentence may be the least honest portion of Lincoln’s letter . According to other statements by Lincoln, he maintained a critical stance pertaining to the black slaves, and the likelihood that the freed black population and the white population could live amongst one another in a productive society. Lincoln considered the black population to be sub-human. He also expressed a desire... --- - Published: 2016-11-30 - Modified: 2024-05-30 - URL: https://www.jayweller.com/firearms-guns-the-second-amendment-and-bankruptcy-part-4/ In conclusion, Bankruptcy Code Section 522(f) permits the Debtor in Bankruptcy to Avoid a Non-possessory, Non-purchase Money Security Interest in Household Goods or Tools Of The Trade. It also provides for the Avoidance of such Interest in Professionally Prescribed Health Aids, but such a provision has no applicability to Firearms. The Court’s tend to define a Household Goods, or Personal Property, according to the McGreevy Decision, as those items that are typically found in or around the home, and used by the Debtor or his dependants to support and facilitate day to day living within the home. By reading the McGreevy and accompanying Bankruptcy cases presented in Part III, one can discern certain facts that would tend to support the argument that a particular Debtor’s Firearms qualify as Household Goods or Personal Property, for the purpose of avoiding such Liens. Such factors that would possibly enable a Court to determine a Firearm or Firearms are Household Goods are that the Debtor or his dependants use such Firearms for the purpose of procuring food for the household. Also, if the Debtor resides in a neighborhood or locality that is subject to high crime, home invasion or burglary, the Courts may more likely find a nexus between the Firearms and the facilitation of day to day living in the household. If the Firearms are of a variety that are typically used for personal protection or hunting, such Firearms are more likely to be included in the category of Household Goods. The more Firearms the Debtor possesses, the less likely his or her “secondary” weapons would be deemed Household Goods. A Debtor engaged in the profession of Law Enforcement or other Security Services, may be able to avoid such a Lien by claiming his Firearms are Tools Of The Trade. The possible Exemptions that may be applied to Firearms are important for purposes other than Lien Avoidance, in terms of the protection of the Assets of the Debtor in Bankruptcy. A number of possible Exemptions may be employed to protect or exempt a Debtor’s Firearms from attachment by Creditors outside of Bankruptcy, and seizure by the Chapter 7 Bankruptcy Trustee, within the arena of Bankruptcy. Household Goods are an obvious Exemption, along with Tools Of The Trade, and when applicable, Heirlooms. Additionally, the Debtor may elect to file a Chapter 13 Bankruptcy, in which any Assets that are not provided for through an Exemption, may be nevertheless protected from attachment by a Bankruptcy Trustee. In a Chapter 13 Bankruptcy, the Debtor will generally pay an amount to his Creditors equivalent to the amount by which his Assets exceed his allowable Exemptions. That the Federal Exemptions do not provide a specific Exemption for Firearms does not create a constitutional conflict with the Second Amendment because the State is only prohibited from taking actions that restrict the Right of the Citizens of the United States to bear and keep Firearms. There is no constitutional requirement that the State advance or promulgate such Rights. Image credit:... --- - Published: 2016-11-28 - Modified: 2024-05-30 - URL: https://www.jayweller.com/firearms-guns-the-second-amendment-and-bankruptcy-part-3/ The issue of the relation of Firearms and Bankruptcy is prominent when the Debtor in Bankruptcy has a Lien placed upon his or her Household Goods, pursuant to a Security Interest which constitutes a Non-possessory, Nonpurchase Money Security Interest. If the property in question can be categorized as Household Goods, Tools Of The Trade, or a Professionally Prescribed Health Aid, under either the applicable Federal or State Exemption Statutes, the Section 522(f) of the Bankruptcy Code permits the Debtor to avoid such Interest. Bankruptcy Code Section 522(f) states that the Debtor may avoid the fixing of a lien on an interest of the debtor in property to the extent that such lien impairs an exemption to which the debtor would have been entitled, if such lien is a nonpossessory, nonpurchase-money security interest in any household furnishings, household goods, wearing apparel, appliances, books, animals, crops, musical instruments, or jewelry that are held primarily for the personal, family, or household use of the debtor or a dependent of the debtor; implements, professional books, or tools, of the trade of the debtor or the trade of a dependent of the debtor; or professionally prescribed health aids for the debtor or a dependent of the debtor. A Non-possessory, Nonpurchase Money Security Interest is where the Creditor secures a Lien upon Assets that are not in the Creditor’s possession, and which the Creditor did not advance funds for the purchase of such Assets or Collateral. The Debtor already owns such Assets or Collateral that he is pledging as Collateral to secure the Loan from the Creditor. When one buys an automobile from a car dealer or dealership, and the Lender or Creditor advances payment to the Seller for the purchase of the automobile, the Security Interest is called a Purchase Money Security Interest. When one obtains a loan from a Lender, and pledges Collateral which he already owns, such as Household Goods, the Interest is a Non-Purchase Money Security Interest. A number of recognized Bankruptcy Court and Appellate Court Decisions have addressed the issue of Firearms and the Avoidance of Liens that constitute Non-Purchase Money Security Interests. In the Matter of Raines, in the US Bankruptcy Court for the Northern District of Georgia, the Court held that it is impossible per se, to adopt a position as to whether Firearms qualify as a Household Good, within the meaning of the Bankruptcy Lien Avoidance provision of the Bankruptcy Code. This means that the Court will make a determination as to whether Firearms are Household Goods, based upon the facts of a particular case. In Raines, the Bankruptcy Court held that a handgun that the Debtors kept in their home, and was of a variety typically used in the defense and protection of a household, qualified as a Household Good, and qualified for Lien Avoidance, as such Lien was a Non-Purchase Money Security Interest. The Court further adopted the McGreevy definition which requires a functional relationship between the goods in question and the Debtor’s household. In Re... --- - Published: 2016-11-21 - Modified: 2024-05-30 - URL: https://www.jayweller.com/firearms-guns-the-second-amendment-and-bankruptcy-part-2/ In the 111th Congress, legislation was passed in HR 5827 that provided a Federal Exemption in Bankruptcy for a Debtor's interest in a “single rifle, shotgun or pistol, or any combination thereof”, provided the total value of such Firearms did not exceed $3000. Such bill also contained a provision that Firearms could be included in the category of Household Goods, permitting the Debtor to avoid a Non-possessory, Nonpurchase Money Security Interest in Bankruptcy. Similar legislation was also presented in the 112th Congress in a bill entitled The Protecting Gun Owners In Bankruptcy Act of 2011. Neither of the legislative efforts was ultimately successful, however, as there is no explicit Federal Exemption in Bankruptcy for Firearms or any variety of Firearms. However, some States have explicit Exemptions for Firearms. These State Exemptions are important because, a Debtor who has not filed Bankruptcy can also avail him or herself the benefit of various State Exemptions in preventing Creditors from seizing, attaching, or garnishing certain of their Assets, and in some cases, Income. In Arizona, Firearms are included in its State Exemption for Personal Items. These are Assets of the Debtor that are “used primarily for personal, family or household purposes. These items include one typewriter, one a bicycle, a family bible, one sewing machine, a lot of a burial ground, and one shotgun or one rifle, or one pistol, not possessing a value exceeding $500. The Idaho State Exemption permits one Firearm valued at $750 or less. In Iowa, the State Exemption provides for one shotgun, and either one rifle or one musket. There is no dollar value limitation in Iowa. In Louisiana, the State Exemption limits the Debtor to one firearm with a maximum value of $500. In Mississippi, firearms are included in its State Exemption for Household Goods, which entitles the Debtor to a cumulative total of $10,000, in a laundry list of Household Goods. Included in this list is Firearms, of which the Debtor may claim an Exemption in one Firearm. The State Exemption in Texas provides for two Firearms with no limitation on value. The remaining States of Montana, Nevada, Ohio, Oklahoma, Oregon, Virginia, and Wisconsin, all have State Exemptions that address Firearms in different permutations. Generally, most State Exemptions for Firearms limit the number of Firearms protected by the Exemption or the aggregate value of the Firearms, or both. The State Exemptions are also important for certain Debtors who file Bankruptcy. When one files Bankruptcy, the Debtor may be able to elect either the Federal Exemptions or the State Exemptions of the State in which he or she files Bankruptcy. So, for example, a Debtor files Bankruptcy in a State that has enacted a State Exemption for Firearms. Say the State Exemption, which the Debtor elects, entitles the Debtor to an Exemption in 2 Firearms, a rifle and a pistol, which are limited in their aggregate value to $2000. The Debtor owns two pistols, two rifles, and one shotgun. The Debtor has exceeded his allowable Exemption in... --- - Published: 2016-11-16 - Modified: 2024-05-30 - URL: https://www.jayweller.com/firearms-guns-the-second-amendment-and-bankruptcy-part-1/ TREATMENT OF FIREARMS IN BANKRUPTCY There is no express Section in the United States Bankruptcy Code addressing Firearms. The Second Amendment does state that the people of the United States have the right to bear arms. However, there is no express or implicit mention of Firearms in the Bankruptcy Code. Although the author believes that the possession of Firearms by the population is an important protection recognizes by the US Constitution, the absence of the mention of Firearms in the Bankruptcy Code does not present a constitutional conflict. The protections in the Constitution, such as the Right to Freedom of Speech, or the Press, or the Right to bear Arms, are written as a prohibition against governmental action. The government, in the intention of the ratifiers of the US Constitution, is prohibited from infringing upon your Freedom of Speech. Your boss can fire you for saying something he deems offensive. A private organization can deny you entry if your views offend. The Federal Government, and possibly, the State Governments, according to an interpretation of the US Constitution according to Original Intent, cannot legally take measures that infringe upon such Rights. Such a pure interpretation of the Constitution was clouded by the restaurant and public accommodation cases of the 1960s and the ensuing Civil Rights Legislation. Ron Paul, and I believe, his son, Rand Paul, were labeled racists for their criticism of such Legislation. That is the character of debate, in the United States, where facts and rational and logical argument is often and usually supplanted by ad hominem attacks and positions taken based upon what tribe one subscribes. Most of what you see on television, reported in the newspapers, and other mainstream publications, and much of the internet, is propaganda, and falsehoods, designed to manipulate the target populations. Such is the case with the Civil Rights Legislation of the 1960s. Such Legislation was probably never enacted because of real concern for what is often referred to as minority populations, meaning populations defined by race, and later, sex. The concept of the minority, as contemplated by the creators of the US Constitution, was an individual, whose actions or beliefs, are in contravention to those prescribed or held, by the majority of the population. Just like the Civil War was not waged to stop slavery, the Civil Rights Legislation of the 1960 was not enacted to redress real racial, or other, inequities. The Civil War was instigated by Lincoln and the North to establish the superiority of the Federal Government over the individual States. The purpose of the Civil Rights Legislation was to further strengthen the supremacy of the Federal Government over the States through its provisions for what are termed public accommodations, and later, Affirmative Action, and other programs. Ron Paul could probably be characterized as a somewhat strict Libertarian, and certainly an individual who values the US Constitution, and holds that the Constitution should be interpreted according to intentions of its creators, or original intent. That is probably a correct... --- - Published: 2016-11-08 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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. https://www. youtube. com/watch? v=zizOn1Q_mqg 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 obtain a Credit Counseling Certificate before filing either Chapter 7 or Chapter 13 Bankruptcy. The charge imposed by the Organizations authorized to distribute such Certificate ranges from $9. 95 to almost $100. These are basic fees that must usually be paid, irrespective of whether you hire a Bankruptcy Attorney to represent you. In the Tampa Bay region most Bankruptcy Attorneys usually charge $800 to $1500 for full representation in a Chapter 7 Bankruptcy. If the Bankruptcy Attorney needs to provide more legal representation than is ordinarily required in a Chapter 7 Bankruptcy, he will usually charge additional monies based upon an hourly rate. Examples may include representation in an Adversary Proceeding, or representation with respect to a Chapter 7 Bankruptcy Trustee seeking to take or liquidate the Assets of the Debtor. The Retainer Agreement presented by the Bankruptcy Attorney should delineate what matters are included in his basic representation and what matters require additional monies in furtherance of representation. At Weller Legal Group we usually will charge a flat fee. If some additional matter is presented in the Bankruptcy Case, often we will continue representation without demand for additional monies. In a Chapter 13 Bankruptcy, most Bankruptcy Attorneys will charge a certain fee before the filing of the Bankruptcy, again ranging from $800 to $1500. Upon Confirmation or Approval of the Chapter 13 Plan by the Bankruptcy Judge, the Attorney or his Office, is generally entitled to additional fees. In the year 2016 in the Tampa Bankruptcy Court, the total fees that a Bankruptcy Attorney is permitted to receive for representing a Debtor in a Chapter 13 Bankruptcy is $4,250. However, the Bankruptcy Attorney and his Office may be entitled to Attorney Fees exceeding $4,250 if he can demonstrate that the Legal Services provided in such Chapter 13 Bankruptcy are outside the bounds of a typical Chapter 13 filing. --- - Published: 2016-10-30 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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. https://www. youtube. com/watch? v=hf6hB5KctaY --- - Published: 2016-10-24 - Modified: 2024-05-30 - URL: https://www.jayweller.com/most-pro-football-players-go-bankrupt-or-broke-true-or-false-part-ii-of-ii/ For an enhanced understanding of this Article, please refer to Part I in this Series, Most Pro Football Players Go Bankruptcy Broke: True or False? Pablo Torre, the Author of the Sports Illustrated Article, recounted his Article, on May 4, 2015, piece entitled, There’s A Difference Between Broke And Bankrupt For Ex-NFL Players, in an online publication named FiveThirtyEight. Torre recounts that he used, in his analysis, a National Bureau of Economic Research’s Working Paper No 21085 titled Bankruptcy Rates Among NFL Players with Short-Lived Income Spikes. The researchers compiled a list of 2,016 players who were drafted by NFL teams between 1996 and 2003. The study found that of the 471 draftees that had been retired at least 12 years, 74, or 15. 7%, had filed Bankruptcy. Pablo Torre wrote in the Sports Illustrated Article, that “by the time the players had been retired for two years, 78% of former players had gone Bankrupt or are under severe financial distress because of joblessness or divorce”. Many later Articles interpreted the Torre Article as stating that the majority of retired NFL players file Bankruptcy within two years of retirement. Torre’s Article is misleading in a number of ways. If he was citing the National Bureau Working Paper then why would he use a two year mark in analyzing the financial state of retired players? Secondly, the National Bureau Working Paper cites 15. 7% of the retired players after 12 years had filed Bankruptcy. Does this mean that 78 minus 15. 7 equals the number of retired players under “severe financial distress”? What does “severe financial distress” mean? How much of this financial distress can be attributed to joblessness or divorce? Also, notice that the National Bureau Paper is referred to as a “working paper”. Torre acknowledges this. A working paper means the Study was at best incomplete and at its lesser veracity, a simple hunch. But if that is the case, then why cite the paper as the foundation of your argument? There are obvious problems with the methodology used by the National Bureau Working Paper, and by the subsequent interpretations of Torre and most of his colleagues in what could be loosely referred to as sports journalism. The Authors of the Working Paper criticized the Torre Article stating that after 2 years of retirement, only about 1. 9% of the players had filed Bankruptcy. If the time period used by the National Bureau researchers was two years after the year 2003, or the last year of the sample they used for NFL players, then most of the Bankruptcy filings would have occurred around 2005, 2006, maybe 2007 and 2008, which were years of an unusually large number of Bankruptcy filings nationally. The figure from the working paper of 1. 9% for retired football players was pretty close to the percentage of persons nationally who filed Bankruptcy. Implicit in the Articles by Torre and the majority of other published articles, some of whom are mentioned in Part I of this... --- - Published: 2016-10-19 - Modified: 2024-05-30 - URL: https://www.jayweller.com/most-pro-football-players-go-bankrupt-or-broke-true-or-false-part-i-of-ii/ The infamous 2009 Article in Sports Illustrated, by Pablo Torre, maintained that two years after their collective retirement from professional football, 78% of former players in the NFL “have gone bankrupt or are under financial distress because of joblessness or divorce”. Subsequent to this Article, Forbes published a 2005 piece, “Five Reasons Why 80% Of NFL Players Go Broke”. Another highly publicized Article by a Brad Tuttle, asks “Why NFL Players Are So Likely To Declare Bankruptcy”. A 2015 USA Today Article is titled, “Top 15 Retired NFL Players That Went Broke And Had To Find Regular Jobs”. These Articles provide various explanations as to why the Authors believe the finances of retired NFL Players are so disastrous. The Forbes Article, authored by Leigh Steinberg, a well-known Agent for NFL Players, argues that NFL Players tend to lack competent financial planning advice, often “support a village” of extended family, and friends, are sometimes impoverished by divorce, have a lack of awareness of how quickly a NFL career can end, and are unprepared for a second career after football. The Brad Tuttle Article mostly parrots the opinions of Leigh Steinberg but also offers that NFL Players often get used to an elevated lifestyle that quickly diminishes their finances “once they retire and the millions stop flowing into their bank accounts”. The Tuttle Article then enlightens its readers with the example of Warren Sapp, who had 240 pairs of collectible sneakers, including 213 pairs of Air Jordans. Furthermore, Andre Rison “famously blew $1 million in jewelry and routinely walked around in clubs with tens of thousands of dollars in cash in his pockets”. NFL bad boy Adam “Pacman” Jones, according to the Article “once dropped $1 million in one weekend in Las Vegas. The Tuttle Article finally acknowledges the terrible physical toll that playing professional football deals to many players, in terms of their physical, and possibly mental, health. However, the NFL disputes this assertion, citing 2012 National Institute for Occupational Safety and Health Study, in which researchers found that “players in our study had a much lower rate of death overall compared to men in the general population”. The same study held that players may have an increased risk of Alzheimers and other brain and nervous system impairments than the general population. The USA Today Article, “Top 15 Players That Went Broke And Had To Find Regular Jobs” adds that “professional athletes are also known for their tendencies to party too hard sometimes and being very popular with the ladies”. These fem fatales are eventually the cause of the destruction of many of our Sunday heroes, according to the Author. The Article then continues detailing the irresponsible spending of a group of 15 former NFL Players, who eventually either filed Bankruptcy or consumed most of their earnings from their time in the NFL. All of these players would be considered among the higher earners in the NFL, during their tenure, including Terrell Owens, Deuce McAllister, Warren Sapp of the Tampa Bay... --- - Published: 2016-10-17 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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, the Lender will initially file a Lis Pendens. If there is a Purchaser of the Property, it is appropriate that the Purchaser has notice of the Foreclosure Proceedings. One must purchase the Property from the actual owner in order to have Clear Title. In Pinellas County in Florida, the current fee charged for the notice of Lis Pendens is $5 for the first page, $4 for each additional page, and $1 for each name over 4 names in the Body or Style of the Document. I suspect other Counties in the United States have similar fees. Picture Credit : belchonock --- - Published: 2016-10-10 - Modified: 2024-05-30 - URL: https://www.jayweller.com/why-is-bankruptcy-important/ BANKRUPTCY ATTORNEY QUESTION FROM NEW PORT RICHEY, FLORIDA A gentleman from New Port Richey, Florida asks our Bankruptcy Attorney, why is bankruptcy important? Bankruptcy is important because it is one of the few tools that an Individual possesses to prevent his or her enslavement. A Corporation may also file a sort of Bankruptcy called Chapter 11 Bankruptcy, which permits the Corporation to reorganize its Debts. However, in most cases, a Corporation is a form that is maintained by Individuals. In the United States, the modern Bankruptcy Laws are entombed in the United States Constitution, which specifically assigns the Congress the power to create and fashion the Bankruptcy Laws on a national basis. Preceding the creation of the United States Constitution, the individual States or Colonies began fashioning and instituting their own forms of Bankruptcy Law or Insolvency Law. It is argued that the purpose of the provision in the Constitution assigning the power of Congress to establish the Bankruptcy Laws and Courts in the new Nation was one of the earliest expressions of the power of the bankers over the freedoms and liberties typically espoused as the basic principles of the US Constitution. Namely, that there was among the banks a worry that the States would fashion their own Bankruptcy and Insolvency Laws to the favor of the Individual, and to the detriment of the banks or lenders. Secondly, by assigning the dominant power over the creation of Bankruptcy Law to the Federal Government, we have an early example of the exercise of Federal Supremacy over the States. There are remnants of the States involvement in the establishment and crafting of Bankruptcy Law and Insolvency Law, in the United States through what are the States Exemptions. Each State in the United States typically will have its own State Exemptions, which determines what Assets are beyond the reach of Creditors. When one files a Bankruptcy in the State of Florida, he or she will usually employ the State Exemptions of the State of Florida in determining what Assets he or she possesses that he or she will retain despite the Bankruptcy filing. Bankruptcy is typically presented as a balancing of the interests of the Individual filing Bankruptcy against those of his or her Creditors. The second goal of Bankruptcy as typically taught is to provide the Debtor a Fresh Start through Bankruptcy Proceedings and finalization, or Discharge. The State Exemptions are a reflection of these twin goals, as determined by the State Legislatures of individual States. It is a determination that certain Assets are necessary for a Debtor to obtain a fresh start after Bankruptcy. Outside of Bankruptcy, the Exemptions are a determination that certain Assets should not be dispossessed of a Debtor by a Creditor. Whatever the goals of the States Exemption Statutes, one underlying purpose of the State Exemptions is the desire of the States that its inhabitants do not become wards or burdens on the States resources. Anyways, before the establishment and adoption of Bankruptcy Laws in what is... --- - Published: 2016-10-04 - Modified: 2024-05-30 - URL: https://www.jayweller.com/the-architects-of-your-enslavement-part-ii-of-iii/ The Housing Collapse Of 2005 Part II of III The Bush Administration simply followed the lead provided by its Predecessors. With the elimination of Glass Steagall, the easy money kept flowing. Ian Greenspan kept the Interest Rates low. The Bush Administration mostly ran interference against any form of oversight, or actively encourage irresponsible Lending. In a pure economy where Interest Rates are determined by the risk presented by Lenders of real money, to Borrowers, any form of government “oversight” or regulation would be probably mostly unnecessary. A Housing Bubble would be unlikely because the Bank, lending its own money, tied to a defined standard, such as gold or silver, would raise or lower Interest Rates based upon risk. The Borrower would restrict his borrowing if such Interest Rates increased or possibly expand his borrowing based upon lower Interest Rates. Both the Lender and Borrower would necessarily be encouraged to make sound financial decisions because each party would suffer real consequences otherwise. The Preceding the Housing Collapse, and continuing to a certain degree to this day, much of the factors that would encourage sound decision-making on the part of the Lenders and Consumers were eliminated. Many Borrowers were able to secure Mortgages with little or no income, no proof of income, little or no down payments, ridiculously low Interest Rates, and other elements. The Banks were not lending their own money. Who was really invested in ensuring that such Lending was performed according to sound Lending Practices? This proposal is probably in line with the thinking of a follower of Austrian Economics, at least in its earliest form. Keynesian Economics holds that the markets must be manipulated to achieve certain ends. However, the persons manipulating such markets will typically seek the ends most beneficial to themselves, or their controllers. The Servicers are an interesting component to the Housing Collapse, and their part is largely unspoken in any discussions on the topic. Most of the large banks have a Subsidiary, which is a Servicing Company. If you are paying a Mortgage payment to Bank of America, for example, you are probably making that payment to Bank of America’s Servicing Company. The money is not really being paid to Bank of America. However, Bank of America, through its Servicing Company, will take a fee for collecting, accepting and processing that payment. Servicing Companies process monthly payments, handle day to day contact with homeowners, and distribute monies to the Investors. When the Homeowner makes his payment timely, the Servicer collects a fee for providing the above services. However, if the homeowner is delinquent, the Servicers fees escalate. The Servicer can also then collect late fees, and other costs. If the home enters Foreclosure, the Servicer is able to collect additional fees again. Here is the punchline. When the house is sold, the Servicer gets paid first, before any other Creditors or Investors. The Servicer, which is really the bank, gets paid before anyone other party. Because the money was never really owed to the... --- - Published: 2016-10-03 - Modified: 2024-05-30 - URL: https://www.jayweller.com/the-architects-of-your-enslavement-part-i-of-iii-2/ Bill Clinton, Bush, Bankers and Servicers, Et Al Part I of III William J. Clinton at the Parliament in London, United Kingdom, November 29 Bill Clinton, during his tenure as President of the United States, signed numerous pieces of Legislation that ultimately lead to the Housing Bubble and its eventual rupture, and the loss of millions of homes by some homeowners, and the reduction of the values of many millions of other homes, in the United States. Mr Clinton signed the Gramm-Leach-Bliley Act which essentially repealed the Glass-Steagall Act. The Glass-Steagall Act was considered an important part of Depression era Legislation, which created a wall between Banks and Investment Companies. Before the abandonment of Glass Steagall, the Banks were permitted to loan their own money, and act as a depository for the monies of its customers, but were not permitted to sell Securities. In theory, when you took a loan from a bank to purchase a house, the bank was providing money held by that bank. The bank had money to lend because it had customers who were depositing money in that bank. The bank held unto the mortgage and had a lien on the home that provided Security for the mortgage. The interest that the bank collected on its loans provided Capital for the bank to continue its operations. Traditionally, this was the primary method in which banks were able to generate revenue. The banks, despite the restrictions of Glass Steagall, had certain advantages. The money they were lending was based upon fiat currency, and not attached to any real asset. The United States Currency was removed from the Gold Standard during the Nixon Administration. There hasn’t been any real Silver in coins since around 1963. Today, there isn’t even much available in terms of fiat currency. Most of the money manipulated by banks are just digits and decimals on a computer screen. With the repeal of Glass Steagall, however, the banks were free to act as an investment broker. That is exactly what they did. Most of the loans to home purchasers leading up to the Mortgage Bubble were packaged Securities. For example, a pension fund or investor is looking for a vehicle in which to invest its or his money. The bank creates a “housing security” whereby investors can place their money, with hopes of a certain return or profit, on their investment. The monies from all these investors are aggregating into a fund, and monies from this fund become the loans that allow the purchasers to buy houses. In theory, when the purchaser starts paying his mortgage, with added interest, the interest monies or some of the interest monies, are then delivered back to the pension fund or investor. The banks were no longer lending their own money. Not even their own fiat money. It became much less important to the banks whether the mortgages were based upon sound or sober lending practices. Think of it in common sense terms. If you lend your own money... --- - Published: 2016-09-28 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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 upon graduation. Among my elective classes, I began enrolling in subjects that related closely to Bankruptcy Law. I took Secured Transactions I, and II; and Bankruptcy Law I and II. That was the extent of the classes at my Law School that closely related to Bankruptcy Law. However, Bankruptcy Law is different from some other areas of Law, in that you must understand many other areas of Law to understand and practice Bankruptcy Law. Contracts, Personal Injury (Torts), Civil Procedure, Real Estate, Constitutional Law, Moot Court, Legal Writing, and just about any Class available in any Law School have some relation to the understanding and practice of Bankruptcy Law. In my Law School, the Professor who taught Bankruptcy Law was a Bankruptcy Judge in, I believe, Cleveland. I don’t remember his name. He wasn’t a very good teacher and extremely boring. I struggled to stay awake in his class. I found it incredible that the man was a Bankruptcy Judge because he seemed to have no understanding of Bankruptcy Law. My introduction to this man, however, did teach me a valuable lesson. Persons who are granted high positions in our government, and in this case, judgeships, are often mediocre. This is especially true today. Many of the current crop of Bankruptcy Judges are Attorneys who are otherwise unemployable. In Law School I don’t think I gained much valuable information or training that would assist me in my goal of practicing Bankruptcy Law. Like my Bankruptcy Law Professor, most Law Professors are also mediocre at best. However, after I graduated from Law School I secured a position in a Law Firm in Tampa, Florida that was, at the time, probably one of the largest, if not largest, Bankruptcy Law Firms in the State of Florida, and possibly the United States. I worked six days a week, excluding Sundays. I worked at least ten to twelve hours per day, including Saturdays. All we practiced at this Law Firm was Bankruptcy Law. All of the Attorneys and most of the Paralegals at this Law Firm were very knowledgeable in the area of Bankruptcy Law. Working at this Law Firm was an invaluable experience in my pursuit of practicing Bankruptcy Law as my profession. Since I graduated from Law School in 1993 until the writing of this Article, I have almost exclusively practiced Bankruptcy Law. I have had the experience of representing numerous tens of thousands of Clients in Bankruptcy Proceedings. So the advice is simple and cliché. Just... --- - Published: 2016-09-26 - Modified: 2024-05-30 - URL: https://www.jayweller.com/what-is-a-confirmation-hearing-in-chapter-13-bankruptcy/ BANKRUPTCY ATTORNEY QUESTION FROM PORT RICHEY, FLORIDA Glenn Anderson of Port Richey, Florida has a question for the Bankruptcy Attorney. What is a Confirmation Hearing in a Chapter 13 Bankruptcy. A Confirmation Hearing is a Hearing before the Bankruptcy Judge, generally attended by the Debtor’s Bankruptcy Attorney, the Chapter 13 Trustee, and possibly, the Debtor and some of his or her Creditors. At the Confirmation Hearing, the Chapter 13 Bankruptcy Plan is formally introduced to the Bankruptcy Judge. The Judge makes a determination whether to approve or Confirm the Chapter 13 Bankruptcy, depending upon a number of factors, including whether the Debtor is current on his post-petition payments to the Chapter 13 Trustee, whether the Chapter 13 Plan is feasible and complies with the demands of the Bankruptcy Code, and whether the Bankruptcy Attorney has fulfilled his duties required to obtain Confirmation, including Valuation of Collateral, Elimination of Liens, and other efforts. If the Chapter 13 Bankruptcy Plan is Confirmed, then the Debtor usually will continue payments to the Chapter 13 Bankruptcy Trustee, as indicated in the Order of Confirmation, signed by the Bankruptcy Judge. Generally, most Chapter 13 Plans are for a period of sixty months, however, in some situations, the Chapter 13 Plan may be for 36 months, or another period of time. Nevertheless, a Chapter 13 Plan cannot provide for a repayment to Creditors for a period exceeding 60 months. Below is a Video regarding the Confirmation Hearing in a Chapter 13 Bankruptcy. https://www. youtube. com/watch? v=qpTQsY7JVfc --- - Published: 2016-09-21 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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 with Burt Reynolds, and others. Generally, a Person will file a Chapter 11 Bankruptcy when he or she seeks to Reorganize his or her Debts, has a significant amount of Unsecured and Secured Debt, generally exceeding a million dollars, and has Assets that he or she wishes to retain, that are ordinarily considered Not Exempt according to Bankruptcy Law. https://www. youtube. com/watch? v=FyCUlk1eo8Y --- - Published: 2016-09-19 - Modified: 2024-05-30 - URL: https://www.jayweller.com/born-in-the-usa-or-kenya-obama-is-not-eligible-to-be-president/ OBAMA IS NOT A NATURAL BORN CITIZEN BECAUSE HIS FATHER WAS A FOREIGN NATIONAL 9/19/16 Much controversy has been raised since the ascent of the Obama Presidency and recently with the reintroduction by presumably, Hillary Clinton’s Campaign and Operatives, of the “birtherism” issue whether Mr. Obama was born in the United States. The fundamental question is whether the President of the United States is a natural born citizen, as defined or contemplated, by the United States Constitution, and therefore eligible to be President of the United States of America. Article II, Section 1, Clause 5 of the United States Constitution states that “no person, except a Natural Born Citizen, shall be eligible for the office of president”. An additional requirement of the US Constitution is that the president be 35 years old and 14 years a resident within the United States. The United States Constitution does not present a definition of what person is a natural born citizen. The plain language of the US Constitution does not define what a natural born citizen is; it only requires that the President be one. In such an event, proper interpretation of such what constitutes a natural born citizen requires that the interpreter discern the Intent of the Creators and Signors of the document. Such intent can be determined by studying the writings and testimony of the Creators and Signors, by examining US Supreme and other Federal Court Cases that have addressed the issue of whom is a natural born citizen, and Congressional records, Statutes, and other efforts addressing the same issue. In order to not belabor the reader of article, this writer has published earlier articles that have examined these factors in detail. Please refer to REQUIREMENTS TO BE PRESIDENT OF THE UNITED STATES and ELIGIBILITY OF VARIOUS UNITED STATES PRESIDENTIAL CANDIDATES for a detailed analysis of the proper definition of natural born citizen. In order to be eligible to be President of the United States of America, a person must be a natural born citizen. In order to be a natural born citizen, a person must: 1. Be born in the United States of America or born in lands that are territories of the United States or are under its sovereigntyAND 2. Be born to parents, BOTH of whom were United States Citizen at the time of the birth of the person. Even Mr. Obama’s most ardent supporters do not argue that Mr. Obama’s father was a United States Citizen. The man stated to be Barack Obama’s father is Barack Obama, Sr. , who was a Citizen of Kenya, and a British Subject. Barack Obama is not eligible to be President of the United States of America. Oh, by the way, neither is Ted Cruz, Marco Rubio, Bobby Jindal, Nikki Haley, and George Romney. Chester Arthur, who served as the 21st President of the United States was probably not a natural born citizen. Image credit: P120612PS-0463 --- - Published: 2016-09-14 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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. A Mortgage on a Home or an Automobile Loan is generally a Secured Debt because the Collateral, namely the Home or Automobile, Secures the Loan. The pledge of Collateral gives the Lender the opportunity to seize or take the Collateral if the Debtor does not tender payments according to the terms of the Loan. If a Debtor has an Automobile Loan, then the loan is Secured or Liened by the Automobile. If the Automobile is seized by the Creditor, and the Debtor no longer has possession of the Automobile, then the Loan is an Unsecured Debt, because there is no remaining Collateral. Chapter 7 Bankruptcy is sometimes helpful for a Debtor who has Debt owed to a Taxing Entity, such as Income Taxes owed to the Department of the Treasury. If certain Tax Debts are over three years old, the Debtor has filed his Taxes more than two years ago, the Debt is not Secured, there are no recent Offers In Compromise, and other considerations, that Debt may be eligible for Discharge in a Chapter 7 Bankruptcy. Student Loans under limited circumstances, may be eligible for Discharge in a Chapter 7 Bankruptcy. Generally, in order to achieve a Discharge, the Debtor must show that the Debt creates an Undue Hardship. A number of factors are used in determining whether a Debtor may accomplish a Discharge of Tax Debt, including the Debtor’s course of study, the likelihood the Debtor will be able to work in his or her chosen field, whether the Debtor graduated from whatever Educational Institution he or she attended, whether the Debtor made an attempt to repay the Student Loan, and other factors. There is no limit as to the amount of Debt a Debtor may have in order to qualify for a Chapter 7 Bankruptcy. However, if the Debtor has Income that exceeds the Median Income, as determined by Family or Household Size, in the District in which he or she files, the Debtor may not be eligible to file a Chapter 7 Bankruptcy. The Debtor may be eligible to file a Chapter 13 Bankruptcy, or another form of Bankruptcy. A Debtor may generally file a Chapter 7 Bankruptcy every 8 years. The 8 year period is determined from the date of the filing of the previous Bankruptcy. If a Debtor filed Chapter 7 Bankruptcy on January 1, 2016, then he or she would be enjoined from filing another Bankruptcy and seeking a Discharge, until January 1, 2024. When a Debtor files... --- - Published: 2016-09-13 - Modified: 2024-05-30 - URL: https://www.jayweller.com/itt-technical-school-closing-part-ii-a-symptom-of-a-greater-disease/ 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 is only exercised against For-Profit Colleges, which places the State Colleges at a distinct advantage. The For-Profit Colleges, in particular the two year Colleges that provide programs in such programs as Nursing, Diesel Mechanic, Electricians and similar blue collar professions, often have open admissions programs, and Students who are often look upon as less desirable by the State Colleges because of academic performance as measured by the Standards determined by the Public Education System, and other criteria, such as the generally lower economic position of its Students. Although the For-Profit Colleges have arguably a harder job of meeting such mandates as the Gainful Employment Rule, such standards are not exercised against the Public Colleges. It cost, according to my research, about $40,000 to attend a two year program at ITT Technical. Approximately 90% of the Revenue generated by ITT was through securing Federal Student Loan monies through its Students. The greater disease is that the Secondary Education provided to most of the Student enrolled in the United States, for many decades has been increasing in cost at a rate much greater than inflation, and currently decreasing in quality and the benefits it provides its Students. The primary cause of this disease is government involvement in Secondary Education, including its participation in funding and guaranteeing Student Loans. Cato Institute Economist Neal McCluskey states plainly: “The basic problem is simple: Give everyone $100 to pay for higher education and colleges will reduce their prices by $100, negating the value of the aid. And inflation adjusted aid—most of it federal—has certainly gone up, ballooning from $4,602 per undergraduate in 1990-1991 to $12,455 in 2010-2011”. The classic spiral of increasing prices created by government intervention can be found in the Secondary Education Market, as it can be found in the cost of Medical Treatment, and in the Housing Market, and its subsequent crash in 2005. Government subsidies raise prices of Goods, which lead to higher subsidies, and subsequently higher prices. To expand on the example posed by Mr. McCluskey, if the average Student is able to pay $400 per month directly from his or her Savings or Income, and the Federal Government subsidizes the same average Student in the amount of $400 per month, the cost of the Students enrollment will balloon to $800 per month. It should be no surprise the cause of the escalating cost of not only Secondary Education, but also the cost of Medical Treatment, in the United States. Government subsidy of Student Loans not... --- - Published: 2016-09-09 - Modified: 2024-05-30 - URL: https://www.jayweller.com/itt-closing-options-for-itt-students/ 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 Departments decision to prohibit the Institute from receiving Federal Financial Assistance, in the form of Student Loans and Pell Grants. Because ITT receives most of its revenue from such Federal Programs, such measures by the Department of Education made the continued operation of ITT impossible. According to the Department of Education website, the Student of ITT Technical Institute and Daniel Webster College, have two options. The Department of Education Website states that if a Student was attending ITT when it closed on September 6, 2016 OR withdrew from ITT within a period of 120 days prior to September 6, his or her two main options are: Apply for a closed school loan discharge OR Transfer earned credits to another institution to continue one’s education in a comparable program The second option is presuming that the second institution will recognize whatever credits the ITT Student seeks to transfer. For Students who do not qualify for either of these options, particularly those who withdrew from ITT beyond the 120 days and possibly those who graduated from ITT, there may be a third option, namely a Discharge of Student Loans through Bankruptcy. A number of State Attorney Generals are investigating whether ITT defrauded its Students, by misrepresenting employment placement rates, and other criteria. Massachusetts Attorney General Maura Healey is currently suing the Institute on the basis of its job placement rate representations. If ITT is found liable for defrauding its Students, such Students may have a basis to seek a Discharge of the Student Loans through Bankruptcy Proceedings. Generally, it is somewhat difficult to obtain a Discharge of Student Loans through Bankruptcy. However, if a Student can prove that he or she did not receive a benefit from the issuance of the Student Loan, based upon Fraud or other criteria, a Discharge might be granted by the deciding Bankruptcy Judge. Please read our prior Blog on Student Loans in Bankruptcy, entitled, “Yes Virginia, Student Loans Can Be Discharged In Bankruptcy”. Other allegations have been leveled against ITT, including allegations of aggressive recruiting tactics, low loan repayment rates, high dropout rates, grade inflation and poor classroom performance by its educators. If valid some of these charges, primarily classroom performance by ITT, may contain a basis for seeking Discharge. While such charges can provide a basis for a Discharge of Student Loans in Bankruptcy, ITT is not the main culprit in the imbroglio present in higher education, including the high cost of secondary education, poor performance of institutions of higher... --- - Published: 2016-09-07 - Modified: 2024-05-30 - URL: https://www.jayweller.com/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 the employment of, or discriminate with respect to the employment against, a Debtor who has filed Bankruptcy. Bankruptcy Code Section 525(c)(1) states that no Governmental Unit may deny a Student Grant, Student Loan, Loan Guarantee, or Loan Insurance to a Person that has filed Bankruptcy. Generally, in terms of Employment, Bankruptcy Code Section 525 holds that an Employer cannot fire, terminate, demote, or reduce the Salary of a Debtor who has filed Bankruptcy. However, an Employer may take into account other reasons for terminating or otherwise discriminating against an Employee or Applicant who has filed Bankruptcy. There may be other valid reasons for such Actions, such as determinations by the Employer regarding either the Competence, Dishonesty or Tardiness of the Employee. In addition, most States do not prohibit an Employer from conducting Pre-Employment Credit Checks, provided the prospective Employee grants his or her Consent. In addition, in some District including the Middle District of Florida, a Private Employer may not hire a prospective Employee, or Promote such Employee, because he or she filed Bankruptcy. However, the Private Employer may not Terminate such Employee because he or she filed Bankruptcy. See Myers v Too Jays Management Corp (640 F 3d 1278, 11th Circuit, 2011). This does not apply to Public Employers. In the twenty or more years that I have practiced Bankruptcy Law, in the representation of many thousands of Clients, I do not know of a single incident where a Client faced termination or denial of employment because he or she filed Bankruptcy. I do know of a number of instances where a Client was instructed by an Employer that he or she needed to file Bankruptcy and relieve themselves of Debt in order to secure Employment. Some Employers look more favorably upon a Debtor who has filed Bankruptcy because that Person is a lessened risk of theft. Persons who have Security Clearance, such as Persons in the FBI or Armed Forces, who have filed Bankruptcy may have lessened risk of Blackmail. If you feel that you have been discriminated against because you filed Bankruptcy, you may contact either the EEOC or the US Federal Trade Commission Consumer Response Center. Thank you Igor of Brandon, Florida for your excellent question. Here is a Video which explains more. https://www. youtube. com/watch? v=kWmZ8C4cd3w --- - Published: 2016-08-30 - Modified: 2024-05-30 - URL: https://www.jayweller.com/bankruptcy-court-tampa/ 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 a Style Guide. Much of the above information cannot be discerned by simply reading the Bankruptcy Code, because this information pertains to Rules and Procedures that are particular to the Bankruptcy Court in Tampa. Each Bankruptcy Court in the United States is given the authority to pattern their own Local Rules, Administrative Orders, and other dictates. If one is a Bankruptcy Attorney or a Debtor seeking to represent himself or herself in Bankruptcy Proceedings, it is important to be knowledgeable of these Sections presented on the Tampa Bankruptcy Court website. The Bankruptcy Court in Tampa is not limited in its Jurisdiction to the City of Tampa. Debtors who file Bankruptcy in the Bankruptcy Court in Tampa come from a number of Counties. The Tampa Bankruptcy Court is more properly referred to as the Bankruptcy Court of the Middle District of Florida, Tampa Division. The Middle District of Florida, Tampa Division encompasses the Counties of Hillsborough, Pinellas, Pasco, Hernando, Polk, Manatee and Sarasota. There are probably about 6-8 million people residing in these Counties. Over the past twenty years, the Middle District of Florida, Tampa Division, has been one of the highest filing Districts in the United States. Hearings before one of the Bankruptcy Judges in Tampa, is held in the Bankruptcy Court on North Florida Avenue. Also, housed in the same building is the Federal Court in Tampa. The building housing the Bankruptcy Court and the Federal Courthouse is approximately 25 stories, and is one of the higher buildings present in the Tampa Skyline. The Creditor Hearings or the 341 Hearings are held in the Timberlake Annex, which sits to the right and slightly behind the main Courthouse. If you are a Debtor attending a Hearing in the Bankruptcy Court, or a Creditor Hearing in the Timberlake Annex, I suggest you arrange to be present at the location at least 30 minutes before the scheduled Hearing, as parking is not readily available in the portion of Tampa where these Hearings are held. Be prepared to pay for parking, either at a parking meter, or a paid parking lot. Also, one must traverse the Security that is present in these buildings. In addition, a Debtor may be required to bring certain forms of Identification to a Hearing in the Bankruptcy Court, in particular, a Creditor Hearing. A Driver’s License, US Passport, and a Social Security Card, are among the Documents that may be required to conduct a Creditor Hearing. Also, it is important... --- - Published: 2016-08-23 - Modified: 2024-05-30 - URL: https://www.jayweller.com/what-is-a-credit-counseling-certificate-in-bankruptcy/ 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 went through a process to determine whether there was an alternative option available, based upon his or her circumstances, that would permit the Individual to escape filing Bankruptcy. For example, the Individual may be eligible to participate in a Credit Counseling Program that would permit that person to reorganize his Debts into a more manageable monthly payment. The US Trustee’s Office, I believe, determines what Companies or Organizations may be permitted to issue Credit Counseling Certificates. The Requirement of a Credit Counseling Certificate is a ridiculous mandate. I recall a Study that was conducted showing that nearly 100% of those who sought a Credit Counseling Certificate, were granted one by the Company or Organization from which they sought such a Certificate. Generally, most Bankruptcy Attorneys will have a list of Organizations that are approved to issue Credit Counseling Certificates. There are about 20 Organizations of which I am aware that will issue a Credit Counseling Certificate. The least expensive I am aware of currently is Summit Financial Education, which will issue a Credit Counseling Certificate for $9. 95, provided you apply on-line, and have interaction with the Credit Counseling Counselor through email. The telephone consultation is almost $30. Some Credit Counseling Organizations will charge up to $100 for a Credit Counseling Certificate. There are exceptions where a Debtor may escape the requirement of the Credit Counseling Certificate. One exception is where it is deemed, by the United States Trustee, in the Debtor’s District, that there is no feasible method by which the Debtor may obtain the Certificate. This is probably a seldom used or accepted exception, especially because most Credit Counseling Organizations will grant the Certificate either through the Debtor using their website, or through a phone consultation. Here is a Video explaining the Credit Counseling Certificate. Thank you Ted Owen from Clearwater, Florida. Image credit: creo77 https://www. youtube. com/watch? v=As5cDQxe4wM --- - Published: 2016-08-22 - Modified: 2024-05-30 - URL: https://www.jayweller.com/treatment-of-attorney-fees-from-divorce-or-family-court-proceedings-in-bankruptcy/ 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 , 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 for Discharge, in the Chapter 7 Bankruptcy. The Bankruptcy Court held that the Attorney Fees, although payable to the Attorney, were in the nature of a Domestic Support Obligation, and Non Dischargeable under 11 USC 523(a). Bankruptcy Code Section 523(a)(5) holds that Domestic Support Obligations are not subject to Discharge in Bankruptcy Proceedings. Bankruptcy Code Section 523(a)(15) states that an obligation incurred by the Debtor in the course of a Divorce or Separation Agreement, or in connection with a Separation Agreement, Divorce Decree, or other Order, are no eligible for Discharge, in Bankruptcy. Bankruptcy Code Section 523(a)(15):(15)to a spouse, former spouse, or child of the debtor and not of the kind described in paragraph (5) that is incurred by the debtor in the course of a divorce or separation or in connection with a separation agreement, divorce decree or other order of a court of record, or a determination made in accordance with State or territorial law by a governmental unit; In a Chapter 13 Bankruptcy, the Bankruptcy Court held in In Re McCreary that if the obligation is not a Domestic Support Obligation but arises from a Divorce or Separation Agreement, or an Order relating to Property Division, the Debt is treated as Unsecured, and will receive the same pro rata distribution given the remaining Unsecured Creditors, in the Chapter 13 Bankruptcy. The Federal Bankruptcy Courts, seem to uniformly hold, that Federal Law and not State Law, governs over whether the Debt is to be classified as a Domestic Support Obligation or a Property Division. . The Case of In Re Daulton , defined what is a Domestic Support Obligation as opposed to, a Division of Property. Among the factors to consider, as the age and health of the parties, whether there are children present and in need of support, the employment status and future earning potential of the parties, whether there is a hold harmless clause present, the adequacy of support without the assumption of debt, and where the obligation is located and how the obligation is named in the Domestic Support Order. Please note that Bankruptcy Code Section 523(a)(15) was altered by the changes brought in 2005 under the Bankruptcy And Consumer Protection Act (BACPA). This Section of the Bankruptcy Code, which is stated earlier in this Article, states only that the Debt must be incurred in the course of a Separation or Divorce, or in connection with a Separation Agreement. This is the end of the Third Part in our Series on Domestic Support... --- - Published: 2016-08-17 - Modified: 2024-05-30 - URL: https://www.jayweller.com/treatment-domestic-support-obligations-in-bankruptcy/ 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 in full in a Chapter 13 Bankruptcy. Please refer to the first Part of this Series on Domestic Support Obligations for the Definition of a Domestic Support Obligation. All Domestic Support Obligations must be paid in full in order for a Chapter 13 Bankruptcy to be Confirmed by the Bankruptcy Judge. If a Debtor fails to pay a Domestic Support Obligation after the filing of the Chapter 13 Bankruptcy, the Bankruptcy may be Dismissed, pursuant to 11 USC 1307(a)(11) of the Bankruptcy Code. In a Chapter 13 Bankruptcy, the Debtor may not obtain a Discharge until the Debtor certifies that all Domestic Support Obligations are paid and that the Debtor is current on all such Obligations. Bankruptcy Code Section 1328(a) further states that Domestic Support Obligations survive the Bankruptcy. If one is ordered by the Family Court to pay Child Support or Alimony, on a continuing basis, such obligation does not cease with the filing of the Bankruptcy. In A Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy, there is portion of the Bankruptcy referred to as the B22, or the 122(c) Current Monthly Income/Disposable Income Form, which Documents the Debtor’s Monthly Allowable Expenses. The B22 determines whether the Debtor is eligible to file either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. If the Debtor has Disposable Income after the calculation of his Debts and Expenses, pursuant to the B22, then the Debtor may be required to file a Chapter 13 Bankruptcy. The B22 not only determines whether the Debtor is eligible for a Chapter 7 or a Chapter 13 Bankruptcy, but further determines what the Debtor’s monthly payment may be in the Chapter 13 Bankruptcy. Domestic Support Obligations, such as Alimony or Child Support, are Allowable Expenses pursuant to the B22, and such Expenses are permitted in full, without restriction. The presence of the Domestic Support Obligations necessarily means that some other Creditors may receive a smaller Distribution of monies through a Chapter 13 Bankruptcy. Some Marital Debts may be Classified as Domestic Support Obligations, and therefore Priority Debts, whereas other Marital Debts may be treated as General Unsecured Debts. The overriding question is whether the Debt created by the Separation Agreement, Divorce Decree, or other Order of the Family Court, is in the Nature of Support. For example, the Family Court may Order that one Spouse pay the Mortgage Payment of the Former Marital Home (meaning a Third Party Payment to the Bank), or that one Spouse pay the Medical Insurance... --- - Published: 2016-08-16 - Modified: 2024-05-30 - URL: https://www.jayweller.com/iceland-and-its-magical-natural-scenes-and-geography/ A friend of the family is currently in Iceland, and sent us some photographs of the beautiful natural scenes and geography or topography, that seems abundant throughout Iceland. Iceland is an interesting place, with one of the highest standards of living in the world. I believe about 250,000 people live on the island called Iceland, which according to my recollection is roughly the size of the State of Ohio. Iceland gets the majority of its energy through the harnessing of the power presented by the hot springs that come from below its surface. I believe Iceland has the highest percentage of population in the world with internet access. Iceland is also sometimes referred to as the land of giants because the people there are on average, much bigger than the average of the world’s population of humans. Iceland also had a number of strong man competition champions, including the guy that plays The Mountain on Game of Thrones, who I believe, is about 6’10” and about 420 lbs. --- - Published: 2016-08-09 - Modified: 2024-05-30 - URL: https://www.jayweller.com/how-long-can-i-keep-my-automobile-if-i-surrender-it-in-bankruptcy/ 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 or automobile, is in Full Satisfaction of the Debt. A Bankruptcy Filer may determine that it is better to surrender the Automobile in the Bankruptcy for a variety of reasons. Upon filing Bankruptcy, such a Debtor does not necessarily have to surrender the Automobile immediately. It could be a period of one to up to four or five months before the Lienholder takes possession of the Automobile. Especially for a Debtor on a limited budget, this may give the Debtor an opportunity to save monies before surrendering the Collateral. Such monies may then be used either to purchase an Automobile for Cash, with no Lienholder, or to use as a down payment on another Automobile, subject to a Loan or Lien. Mark of Clearwater, Florida, thank you for your question. Here is a short Video we made that addresses the issue of surrendering an Automobile in a Bankruptcy. https://www. youtube. com/watch? v=mYV1vxbzAyo --- - Published: 2016-08-08 - Modified: 2024-12-19 - URL: https://www.jayweller.com/what-is-a-certificates-for-domestic-support-obligation-in-bankruptcy/ 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 the Middle District of Florida, Tampa Division would probably appear similar to the Form that is featured above. The first Part of the Domestic Support Obligation Form questions whether the Debtor either: Owed no domestic support obligation, such as Alimony of Child Support when the Bankruptcy was filed AND has not been required to pay any domestic support obligation since thenOR The Debtor is required to pay a domestic support obligation AND has paid all obligations since the time of the filing of the Bankruptcy. Under Part I there is no option that states the Debtor has Domestic Support Obligations, but he or she has not paid, or is delinquent in those Domestic Support Obligations. If the Debtor is required to pay a Domestic Support Obligation, AND the Debtor has paid all of his Domestic Support Obligations through both the Chapter 13 Plan and any other Amounts that became due since the filing of the Bankruptcy Petition, then the Debtor must then provide in Part II of the Certificates Of Domestic Support Obligation Form, the Debtor’s Current Address AND the Name and Current Address of the Debtor’s Employer. Part III of the Form entitled Chapter 13 Debtor’s Certifications Regarding Domestic Support Obligations And Section 522(q) questions whether the Debtor has claimed an Exemption in Property pursuant to Bankruptcy Code Section 522(b)(3) and State and Local Law. Part IV of the Domestic Support Obligation Form states the Debtor’s Signature. By signing the Form, the Debtor is asserting under Penalty of Perjury, that the representations he has made in answering the former Parts of the Certificate, are True and Correct, to the Best of the Debtor’s Knowledge and Belief. The Domestic Support Obligation in Bankruptcy includes any monies owed to any of the Parties below: Spouse; Former Spouse; Child or Children; Guardian of the Child or Children; Governmental Unit Domestic Support Obligation, in Bankruptcy Law, includes Alimony, Maintenance and Support, including Assistance by a Governmental Unit. Such Domestic Support Obligations can come through a Property Settlement Agreement, Divorce Decree, a Separation Agreement, or through Governmental Action to collect from a Debtor monies for Governmental Assistance provided to any of the above Parties, due to the delinquency of the Debtor in paying such Domestic Support Obligations. Part II of the Domestic Support Obligation in Bankruptcy Series will discuss How Are Attorney Fees in Divorce Proceedings or Family Court Litigation treated in Bankruptcy. Part III of the Domestic Support Obligation in Bankruptcy Series will discuss How Domestic Support Obligations... --- - Published: 2016-08-01 - Modified: 2024-05-30 - URL: https://www.jayweller.com/ufos-spotted-over-clearwater-beach-florida-see-video/ Here is a Video I took on an iPhone 4 camera, of a series of lights that appeared in the sky in Clearwater Beach, Florida, on March 26, 2016. The Video is a little over 2 minutes long, but the lights appeared in the sky much longer than that. The lights were either slow moving or did not move at all. The Video was taken at Clearwater Beach, Florida. Specifically, the Video was taken from a fifth story condominium in the community of Island Estates, which is situated as the Intercoastal between Clearwater Beach, itself, and the mainland. In the Video, you can see a building in the background. There is also a disturbance of light from the opposing buildings and structures. The Video captures and I believe I remember, that the night was foggy that night. That is about all I can tell you about this Video. Weather balloons? Natural disturbances of light? Aliens? https://youtu. be/KjSu61qPJrk --- - Published: 2016-07-26 - Modified: 2024-05-30 - URL: https://www.jayweller.com/what-is-bankruptcy-proof-of-claim/ BANKRUPTCY ATTORNEY QUESTION FROM CLEARWATER, FLORIDA Eduardo from Executive Café & Deli in Clearwater, Florida, asks What is a Proof of Claim in Bankruptcy? A Proof of Claim is a written Statement that notifies the Bankruptcy Court, The Bankruptcy Trustee, and the Debtor, that the Creditor intends to be eligible to receive a Distribution of monies from the Bankruptcy Estate. In a Chapter 7 Bankruptcy, the Distribution of monies is through the Sale and Liquidation of Assets that the Bankruptcy Debtor owns that exceed the amounts permitted by the State or Federal Bankruptcy Exemptions. In a Chapter 13 Bankruptcy, the Distribution of monies is generally made through the Bankruptcy Debtor making monthly payments to Chapter 13 Bankruptcy Trustee. Generally, a Creditor must file the Proof of Claim within 90 days after the first Meeting of Creditors (341 Hearing), or within 180 days after the Order of Relief, or generally the commencement of the Bankruptcy, if the Creditor is a Governmental Entity. If the Creditor does not meet these deadlines, often referred to as the Claim Bar Date, then the Claim may be Disallowed in the Bankruptcy. One exception to this Rule is if the Creditor can show Excusable Neglect. Every Proof of Claim in Bankruptcy must contain the following elements: The Case Number and Name of the Debtor; The Name of the Creditor and Mailing Address for Receipt of Notices Amount owed by the Debtor on the Date of filing the Petition for Bankruptcy; The Nature of the Claim (for example, Purchases, Taxes, etc); The Type of Claim (for example, Secured, Unsecured, Priority, etc) A Party in Interest, in a Chapter 7 or Chapter 13 Bankruptcy, may file an Objection to a Proof of Claim filed by a Creditor for a number of reasons. A Party in Interest in a Chapter 7 Bankruptcy is generally the Chapter 7 Bankruptcy Trustee. A Party in Interest in a Chapter 13 Bankruptcy may be the Chapter 13 Bankruptcy Trustee, the Bankruptcy Debtor, or even another Creditor. The basis for Objections that may be filed by a Party in Interest include instances where there is no Documentations Attached support the basis for the Proof of Claim. For example, a Creditor maintaining that it has a Secured Claim must attach Documents supporting that assertion, such as the Contract or Lien filed documenting the Secured Interest held by that Creditor. Other common Objections may be that the Amount claimed by the Creditor is not correct or that the Interest or other Charges included in the Proof of Claim are Improper. https://www. youtube. com/watch? v=L990rNAUV-4 --- - Published: 2016-07-26 - Modified: 2024-05-30 - URL: https://www.jayweller.com/do-i-need-a-credit-counseling-certificate-in-order-to-file-bankruptcy/ BANKRUPTCY QUESTION FROM BRANDON, FLORIDA Jose Pasquini from Brandon, Florida, asks, Do I need a Credit Counseling Certificate in order to file Bankruptcy. Thank you, Jose Pasquini for your question. Section 109 of the Bankruptcy Code defines who may be a Debtor in Bankruptcy. Bankruptcy Code Section 109 states that a Debtor may be a person that resides or has a domicile in the District, a place of Business, Property in the United States, or a Municipality. Section 109 therefore, states that there are four types of Debtors eligible to file Bankruptcy. Section 109(h) of the Bankruptcy Code states that the Credit Counseling Certificate must be obtained by the Debtor less than 180 days before filing Bankruptcy. The Credit Counseling Certificate must be obtained by every Individual in order to file Bankruptcy. There are certain Exceptions where the Individual does not need the Credit Counseling Certificate in order to file Bankruptcy: The US Trustee or the Bankruptcy Administrator in the District determines that such Services are not reasonably able to provide adequate Credit Counseling Services. This Exception is probably rarely if ever, adopted, due to the ability of the Debtor to obtain the Credit Counseling Certificate either through the Internet or by having a Telephone Interview with the Credit Counseling Agencies; Exigent Circumstances prevented the Debtor from obtaining the Credit Counseling Certificate before filing Bankruptcy. In this event, the Debtor must submit to the Bankruptcy Court a Certificate stating that the Exigent, or emergency circumstances, are present. One example of Exigent Circumstances may be present where the Debtor has a Foreclosure Sale Date looming on his or her Homestead, and needs to file Bankruptcy quickly in order to stop the Foreclosure Sale; The Debtor is not an Individual. Section 109 of the Bankruptcy Code defines who may be a Debtor in Bankruptcy. A Municipality or a Corporation may be deemed not to be an Individual and therefore, exempt from the Credit Counseling Certificate Requirement; The Debtor was not able to obtain the Credit Counseling Certificate from an Approved Credit Counseling Agency. In the unlikely event that the Debtor is unable to obtain the Credit Counseling Certificate, the Debtor may still file Bankruptcy. The Debtor, however, may have to confront questions from the United States Trustee and possibly, the Bankruptcy Judge, as to why he or she was unable to obtain the Credit Counseling Certificate. Image credit: 123rf. com --- - Published: 2016-07-20 - Modified: 2024-05-30 - URL: https://www.jayweller.com/who-is-bankruptcy-attorney-jay-weller/ PORT RICHEY, FLORIDA CLIENT QUESTION FOR THE BANKRUPTCY LAWYER Patrick O’Bier of Port Richey, Florida asks, Who is Jay Weller? Jay Weller is a Bankruptcy Attorney who has been practicing Bankruptcy Law in the State of Florida, since 1993. Jay Weller is admitted to practice Bankruptcy Law in the Middle District of Florida, Tampa Division, and in other Jurisdictions. However, Jay Weller and his Law Firm, Weller Legal Group, PA, primarily serve Clients in the Middle District of Florida, Tampa Division. The Tampa Division is actually a large District, encompassing the Counties of Hillsborough, Polk, Pinellas, Pasco, Hernando, Sarasota, and De Soto Counties. Many millions of people reside in these Counties. Weller Legal Group, PA primarily represents its Clients in Bankruptcy matters, namely, the representation of Debtors only in Chapter 7 and Chapter 13 Bankruptcy proceedings. Since 1993, Mr Weller and Weller Legal Group, PA has represented over 40,000 Clients in the filing of their Bankruptcies, in the Middle District of Florida, and in other Districts in Florida. Weller Legal Group also represents Clients in matters relating to Debt and problems with Creditors. This includes the representation of Clients in Foreclosure Defense, Loan and Mortgage Modifications, Credit Counseling, Credit Repair, and Creditor Harassment Matters. We are the only Law Office in the State of Florida that offers representation in every avenue relating to Debt. Thank you, Patrick O’Bier of Port Richey, Florida for your question. https://www. youtube. com/watch? v=-Ts_rFJh5wY --- - Published: 2016-07-18 - Modified: 2024-05-30 - URL: https://www.jayweller.com/i-filed-bankruptcy-when-can-i-file-again/ BANKRUPTCY ATTORNEY QUESTION FROM BRANDON FLORIDA Stuart Schnell of Brandon, Florida asks the Bankruptcy Attorney, If I previously filed Bankruptcy, may I file Bankruptcy again, and when may I file Bankruptcy again? Thank you for your question, Stuart. If you file Bankruptcy, you may generally file Bankruptcy again, depending upon primarily the amount of time that has elapsed from the date of the filing of the first Bankruptcy, and whether it is important for the Debtor to obtain a Discharge in the Second Bankruptcy. HERE ARE THE MOST COMMON SCENARIOS REGARDING THE FILING OF A SECOND BANKRUPTCY: If you filed Chapter 7 Bankruptcy AND received a Discharge, You may generally file a Second Chapter 7 Bankruptcy, and receive a Discharge, provided you wait 8 years from the date of the filing of the first Chapter 7 Bankruptcy. If you filed Chapter 13 Bankruptcy AND received a Discharge, You may generally file a Chapter 7 Bankruptcy, and receive a Discharge, provided you wait 6 years from the filing of the Chapter 13 Bankruptcy. Since some Debtors who file Chapter 13, make payments up to five years, such Debtors would only have to wait 1 year from the date of the Discharge of the Chapter 13 Bankruptcy to file Chapter 7 Bankruptcy. If you filed Chapter 7 Bankruptcy AND received a Discharge, You may generally file a Chapter 13 Bankruptcy, and receive a Discharge, provided you wait 4 years from the date of the filing of the Chapter 7 Bankruptcy. Some Debtors, in this scenario, may elect to file a Chapter 13 earlier than the 4 year waiting period, because it is not important for such Debtors to receive a Discharge in the Chapter 13 Bankruptcy. Examples would include a Debtor seeking to pay Priority Creditors through the Chapter 13 Bankruptcy, or the Debtor is seeking to pay arrearages on a Mortgage. If you filed Chapter 13 Bankruptcy AND received a Discharge, you may generally file a Chapter 13 Bankruptcy and receive a Discharge, provided you wait 2 years from the date of the filing of the first Chapter 13 Bankruptcy. https://www. youtube. com/watch? v=XJzftmfQOj4 --- - Published: 2016-07-12 - Modified: 2024-05-31 - URL: https://www.jayweller.com/can-a-creditor-or-other-interested-party-object-to-discharge-of-a-debt-in-bankruptcy/ ASK THE BANKRUPTCY ATTORNEY-BRANDON, FLORIDA CLIENT DANNY R Danny R of Brandon, Florida has a Question for the Bankruptcy Lawyer. May a Creditor or other Interested Party Object to the Discharge of a particular Debt that was included in the Bankruptcy, and the Bankruptcy Discharge? The answer is Yes. The operative Sections of the Bankruptcy Code that relate to whether certain Debts are Dischargeable in Bankruptcy are Section 523 and Section 727. These are very important Sections of the Bankruptcy Code. Any Bankruptcy Attorney, or Student of Bankruptcy in Law School, should be familiar with these two Sections of the Bankruptcy Code. Thank you, Danny R of Brandon for your question. Here is a Video that we made that may further assist you. https://www. youtube. com/watch? v=BLhJopjVFwQ HERE IS SECTION 523 OF THE BANKRUPTCY CODE: (a) A discharge under section 727, 1141, 1228(a), 1228(b), or 1328(b) of this title does not discharge an individual debtor from any debt— (1) for a tax or a customs duty— (A) of the kind and for the periods specified in section 507(a)(3) or 507(a)(8) of this title, whether or not a claim for such tax was filed or allowed; (B) with respect to which a return, or equivalent report or notice, if required— (i) was not filed or given; or (ii) was filed or given after the date on which such return, report, or notice was last due, under applicable law or under any extension, and after two years before the date of the filing of the petition; or (C) with respect to which the debtor made a fraudulent return or willfully attempted in any manner to evade or defeat such tax; (2) for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by— (A) false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition; (B) use of a statement in writing— (i) that is materially false; (ii) respecting the debtor’s or an insider’s financial condition; (iii) on which the creditor to whom the debtor is liable for such money, property, services, or credit reasonably relied; and (iv) that the debtor caused to be made or published with intent to deceive; or (C) (i) for purposes of subparagraph (A)— (I) consumer debts owed to a single creditor and aggregating more than $500 for luxury goods or services incurred by an individual debtor on or within 90 days before the order for relief under this title are presumed to be nondischargeable; and (II) cash advances aggregating more than $750 that are extensions of consumer credit under an open end credit plan obtained by an individual debtor on or within 70 days before the order for relief under this title, are presumed to be nondischargeable; and (ii) for purposes of this subparagraph— (I) the terms “consumer”, “credit”, and “open end credit plan” have the same meanings as in section 103 of the Truth in Lending Act; and (II) the term... --- - Published: 2016-07-06 - Modified: 2024-05-31 - URL: https://www.jayweller.com/bankruptcy-attorney-question-from-lakeland-florida-who-is-jay-weller/ Charles K Reed of Lakeland, Florida writes, who is Jay Weller? Jay Weller is an Attorney who primarily practices Bankruptcy Law. Mr. Weller graduated from the University at Buffalo in 1990 and from the University of Akron Law School in 1993. In Law School, the majority of Mr. Weller’s elective courses were in Bankruptcy Law or related to Bankruptcy Law, such as Secured Transactions. After graduation from Law School, Mr. Weller immediately moved to the Tampa Bay area and secured a position in a Law Firm called Debt Relief Legal Services, which only practiced in the area of Bankruptcy Law. Debt Relief Legal Services no longer exists, but at the time, it was the largest Bankruptcy Law Firm in the Tampa Bay area, with offices in Clearwater, Port Richey, Lakeland, Brandon, and other Cities. The Bankruptcy Attorneys at Debt Relief were generally very knowledgeable and experienced in matters of Bankruptcy Law, and this afforded an opportunity to learn a tremendous amount regarding every aspect of the practice of Bankruptcy Law. Mr. Weller founded Weller Legal Group in 1995 and quickly grew from one Office in Clearwater, to multiple offices, including Port Richey, Tampa, Lakeland, Orlando and Miami. Since 1995 Mr. Weller, and the Bankruptcy Attorneys at Weller Legal Group have filed over 40,000 Bankruptcies. Weller Legal Group is now the largest Bankruptcy Law Firm in the Tampa Bay area, and the most prominent and highest rated. Weller Legal Group offers representation in Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Chapter 11 Bankruptcy and Chapter 12. Weller Legal Group also offers representation in matters related to Debt, such as Foreclosure Defense, Debt Settlements, Creditor Harassment Matters, Credit Repair, and Credit Counseling. Weller Legal Group is the only Law Firm in the Tampa Bay area offering representation and assistance for every issues relating to Debt. https://www. youtube. com/watch? v=-Ts_rFJh5wY --- - Published: 2016-06-29 - Modified: 2024-05-31 - URL: https://www.jayweller.com/safety-harbor-veterans-of-foreign-wars-vfw-post-10093/ Safety Harbor, Florida hosts a Veteran of Foreign Wars (VFW) Post 10093. The Safety Harbor VFW Post is located at 965 Harbor Lake Court, in Safety Harbor, Florida. The purpose of the VWF, according to the Congressional Charter 230102 Incorporating the Veterans Of Foreign Wars Organization, are ... . to preserve and strengthen comradeship among its members,; to assist worthy comrades; to perpetuate the memory and history of our dead; and to assist their widows and orphans; to maintain true allegiance to the government of the United States, and fidelity to its Constitution and Laws, to foster true patriotism; to maintain and extend the institutions of American freedom, and to preserve and defend the United States of America from all her enemies. Here is a photograph of the main entrance to the Safety Harbor, Florida VWF Post --- - Published: 2016-06-22 - Modified: 2024-05-31 - URL: https://www.jayweller.com/bankruptcy-discharge-revoked/ Justin Colen of Palm Harbor, Florida asks, If I receive a Bankruptcy Discharge, may the Discharge later be Revoked? Thank you, Justin of Palm Harbor. I hope things work out with that lawsuit from the Hamburglar, arising from the altercation in the McDonald’s parking lot. Any Interested Party may bring an Action to seek the Revocation of the Bankruptcy. In order for the Discharge in a Bankruptcy to be Revoked, the following must exist: INTERESTED PARTY. Only an Interested Party can bring an Action to seek the Revocation of a Discharge in Bankruptcy. An Interested Party may be: Creditor Bankruptcy Trustee Bankruptcy Court Judge United States Trustee Partners, and Former Partners, of Debtor Spouses, and Former Spouses, of Debtor MUST BRING ACTION TO SEEK REVOCATION OF BANKRUPTCY WITHIN ONE YEAR OF THE DISCHARGE OR CLOSING OF THE BANKRUPTCY, WHICHEVER IS LATER. However, an Interested Party may seek additional time, depending upon the reason for the reason for which the Revocation should be granted. THE BASIS FOR THE REVOCATION MUST BE DISCOVERED AFTER THE DISCHARGE OR CLOSING OF THE BANKRUPTCY. DISCHARGE MAY BE GENERALLY REVOKED IF DEBTOR COMMITS: FRAUD Not Disclosing Assets or Failing to Surrender Assets, pursuant to an Order from the Bankruptcy Court. Making Material Misstatements, for which an adequate explanation can not reasonably be given BAD FAITH Not following Bankruptcy Court Rules or Orders Failure to turnover necessary Documents that are subject to an Audit in a Bankruptcy The Consequences of Revocation of a Bankruptcy Discharge may be numerous. The underlying reason for the Revocation of the Bankruptcy may be that the Debtor committed some form of Bankruptcy Fraud. The Discharge will be withheld, but the Debtor is still under the Jurisdiction of the Bankruptcy Court. The Debtor may be subject to Fines, Imprisonment, or both. The Debtor may need the Services of a Criminal Defense Attorney. https://www. youtube. com/watch? v=c0PteVc_zQA --- - Published: 2016-06-22 - Modified: 2024-05-31 - URL: https://www.jayweller.com/to-file-bankruptcy-what-documents-are-needed/ Paul O’Bier from Holiday, Florida asks, in order to file Bankruptcy, what documents are needed? Thank you, Mr. O’Bier from Holiday. In the Middle District of Florida, Tampa Division, the Documents needed to file Bankruptcy, and or those that are requested by the respective Chapter 7 and Chapter 13 Bankruptcy Trustees, are similar for both Chapters of Bankruptcy. I suspect that the Documents required in other Jurisdictions are similar to those required in the Tampa Division for the Middle District of Florida. The Documents generally needed to file Bankruptcy, and those generally requested by the Chapter 7 and Chapter 13 Bankruptcy Trustee’s are as follows: BANKRUPTCY PETITION. This Document is always required. A properly completed Bankruptcy Petition will contain, among other information, a Schedule of the Debtor’s Assets, Liabilities, Income and Expenses. EVIDENCE OF INCOME. Debtors must provide evidence of their Income from the six months preceding the filing of the Bankruptcy. This may be, for example, the paycheck stubs from Employment, or a Social Security or Pension Award Letter. Bank Statements may provide additional Evidence. TAX RETURNS FROM THE PAST TWO YEARS CREDIT COUNSELING CERTIFICATE. The Credit Counseling Certificate is required in order to file Bankruptcy and most generally be acquired more than 24 hours before the filing of the Bankruptcy. A Credit Counseling Certificate basically states that you underwent a Consultation with an Approved Credit Counseling Organization, and the Organization deemed that a Credit Counseling Program would be insufficient to address the level of Debt held by the Debtor. The Bankruptcy Trustee, in particular, the Chapter 7 Bankruptcy Trustee, may ask for additional Documents such as Payoff Statements for Mortgage and Automobile Loans, copies of Real Estate Mortgages, or even Collection Letters, depending upon the focus of their inquiry. https://www. youtube. com/watch? v=-6-evvuExDI --- - Published: 2016-06-16 - Modified: 2024-05-31 - URL: https://www.jayweller.com/dismiss-bankruptcy-after-filing/ Amy Z of Palm Harbor, asks, “Can a Bankruptcy be Dismissed after filing”? Thank you Amy from Palm Harbor, Florida. Generally, a Debtor can either Dismiss a Chapter 13 after Filing a Chapter 13 Bankruptcy. A Debtor may seek to Dismiss a Chapter 7 Bankruptcy after filing. A Debtor may wish his Chapter 7 Bankruptcy Dismissed because an aggressive Chapter 7 Bankruptcy Trustee may be seeking to Seize or Liquidate Assets that the Chapter 7 Debtor possesses. The Debtor, before filing Chapter 7 Bankruptcy may not have foreseen that the Bankruptcy Trustee would seek to Seize or Liquidate the Assets that are the subject of the Bankruptcy Trustee’s actions. If the Debtor seeks to Dismiss his Chapter 7 Bankruptcy, in such an instance, the Bankruptcy Trustee would probably Object to such a Dismissal, and the Bankruptcy Judge would not likely grant the Dismissal request. The Chapter 7 Bankruptcy Debtor would then have three or four options. The order of this options does not speak to their respective importance. Which option is best for you would depend upon your particular situation. One option the Debtor would have would be to simply allow the Trustee to Seize and Liquidate or Sell, the Property or Assets that are the subject of Seizure. A Second option would be to work out a Buyback with the Bankruptcy Trustee. In a Buyback, the Debtor basically “buys back” the monetary value of the Non Exempt Assets by paying the Trustee a determined amount. A third option is to Convert the Chapter 7 Bankruptcy to a Chapter 13 Bankruptcy (or a Chapter 11 or Chapter 12 Bankruptcy). Generally, the Debtor may Convert his Chapter 7 Bankruptcy to another Chapter of the Bankruptcy Code, provided the Debtor is not committing Bad Faith, in doing so. See Section 348 of the Bankruptcy Code. https://www. youtube. com/watch? v=c0PteVc_zQA --- - Published: 2016-06-15 - Modified: 2024-05-31 - URL: https://www.jayweller.com/is-bankruptcy-a-public-record/ Thank you Joan B of Port Richey, Florida for your question whether Bankruptcy is a Public Record. Yes. The filing of a Bankruptcy is a Public Record. Theoretically, anyone can, if sufficiently determined, discover whether you filed Bankruptcy. The average person would not know be able to discover this information unless they physically went to the Bankruptcy Court, and inquired whether a particular person filed Bankruptcy. If the Court was able to locate that particular person’s Bankruptcy filing, then the inquirer could then request a copy of the Bankruptcy Filer’s Petition and Schedules, along with any Motions or similar documents that were filed in the Bankruptcy Court. The Bankruptcy Court does charge a fee for this service, in terms of the cost of the copies they provide. As a Bankruptcy Attorney, I use a system called Pacer, wherein I can look up any information filed in the Bankruptcy Court pertaining to my Clients. Pacer also charges a fee for the use of its service. Pacer, obviously, is much more convenient than physically going to the Bankruptcy Court in order to obtain information about a particular Bankruptcy filing. Joan of Port Richey. Here is a Video that we prepared to help answer your query: https://www. youtube. com/watch? v=c0PteVc_zQA Weller Legal Group provides legal representation in all Bankruptcy Matters. The Bankruptcy Attorneys and Paralegals at Weller Legal are fully trained and experienced in all areas relating to Bankruptcy Law. We have Offices conveniently located in Clearwater, Port Richey, Lakeland and Brandon, to better serve you. --- - Published: 2016-06-08 - Modified: 2024-05-31 - URL: https://www.jayweller.com/what-is-a-confirmation-hearing-in-a-chapter-13-bankruptcy/ Jennifer V from Palm Harbor, Florida, asked the Bankruptcy Attorney, What is a Confirmation Hearing in a Chapter 13 Bankruptcy. Here is a Video explaining the Confirmation Hearing and Process in a Chapter 13 Bankruptcy: Sections 1324 and 1325 of the Bankruptcy Code address the concept of a Confirmation Hearing in Chapter 13 Bankruptcy. Generally, the Confirmation Hearing is held between twenty to forty five days after the completion of the 341 Meeting of Creditors. The status and reverence bestowed upon the Confirmation Hearing has changed dramatically in the time that I have been practicing Bankruptcy Law. When I first began practicing Bankruptcy Law in 1993, the Confirmation Hearing was perhaps the central event in any Chapter 13 Bankruptcy filing. Most, if not all, the Bankruptcy Judges in the Tampa Division required that the Debtors and the Attorneys attend the Confirmation Hearing. Early in my practice as a Bankruptcy Attorney, Judge Corcoran was a Bankruptcy Judge in Tampa. Judge Corcoran required that not only should all the Debtors attend the Confirmation Hearing, along with their Attorneys, but that all male Debtors wear a tie. I would keep a stack of ties in my briefcase because some of my Clients didn’t have ties or forgot, or for whatever reason. Today, usually the Debtors, and often the Attorneys themselves, are not often required to attend the final Confirmation Hearing. Life changes, old Judges leave. The new ones come. Judge Corcoran is now a Catholic Priest. Thank you, Jennifer V of Palm Harbor, Florida, for your question. --- - Published: 2016-06-01 - Modified: 2024-05-31 - URL: https://www.jayweller.com/johnny-b-of-brandon-florida-asks-what-is-a-fraudulent-transfer-in-bankruptcy/ Thank you, John B of Brandon. Here is a Video we made on Fraudulent Transfers in Bankruptcy. Section 548 of the Bankruptcy Code addresses Fraudulent Transfers in Bankruptcy. Section 548(a)(1) states, for example, that the Bankruptcy Trustee may Avoid any Transfer of Property or other Interest by the Debtor, provided the Transfer was (1) within two years of the Debtor filing Bankruptcy, (2) was to an Insider, and (3) the Debtor received less than Fair Market Value from the Transferee, in exchange for the Property or Interest. An Insider is generally defined as either the Spouse or an immediate Family Member of the Debtor. Many persons, including many Bankruptcy Attorneys, think that any Transfer to an Insider within two years of the Debtor filing Bankruptcy, is a Fraudulent Transfer in Bankruptcy, and may be subject to Avoidance by the Bankruptcy Trustee. This is not legally true because the third requirement for a Fraudulent Transfer is that the Transferor or Debtor must receive less than Fair Market Value in exchange for the Property or Interest. However, be careful. Bankruptcy Courts and Bankruptcy Judges are increasingly either ignorant of the Bankruptcy Laws, or are willfully deciding not to follow them. You should consult an experienced Bankruptcy Attorney in order to know how Fraudulent Transfers are treated in whatever Jurisdiction would prevail over your Bankruptcy. Thank you, John B of Brandon, Florida, for your question. More Questions and Answers on Bankruptcy Matters to come. https://www. youtube. com/watch? v=0UImg8Ym2pQ --- - Published: 2016-05-31 - Modified: 2024-05-31 - URL: https://www.jayweller.com/what-is-a-discharge-in-a-chapter-13-bankruptcy/ Paul O from Port Richey, Florida asks, what is a Discharge in a Chapter 13 Bankruptcy. The following video explains what is a Discharge in a Chapter 13 Bankruptcy. Discharge in Chapter 13 is described in Section 1328 of the Bankruptcy Code. Section 1328(b) provides for a Hardship Discharge. Section 1328(e) and 1328(f) of the Bankruptcy Code discuss instances in which a Discharge may be Revoked. A Discharge in a Chapter 13 Bankruptcy generally provides that certain Claims are paid, or satisfied in full, through the execution and completion of the Chapter 13 Plan. All Claims that are the same, in Bankruptcy, must be treated similarly, but different types of Claims may be treated differently from each other. For example, Credit Cards and Medical Bills are generally treated in a Chapter 13 Bankruptcy as General Unsecured Debts. A Chapter 13 Plan may offer to pay anywhere from 0% to 100% of the monies owed to the General Unsecured Creditors. If a Plan is approved or Confirmed by the Bankruptcy Court, and completed by the Debtor, that pays, say, 20% to the General Unsecured Creditors, then each of the General Unsecured Creditors must receive 20% of the monies owed at the time of the filing of the Chapter 13 Bankruptcy. That same plan may pay 100% plus Interest to the Internal Revenue Service. However, the Chapter 13 Plan may treat the Internal Revenue Service differently because debts owed to a Governmental Entity are generally a different Classification of Claim than Medical Debts or Credit Card Debts. Such Tax Debts may be further Classified as either Priority, Secured, or Unsecured, depending on the type and age of the Tax Debt, and other criteria. Mortgages on Real Property are another type of Debt. One may pay the Arrearages on their Homestead, for example, but still owe monies on their Mortgage after the completion and Discharge of their Chapter 13 Bankruptcy. https://www. youtube. com/watch? v=Y7hsUb4CkoM --- - Published: 2016-05-23 - Modified: 2024-05-31 - URL: https://www.jayweller.com/can-i-change-my-social-security-number-to-rebuild-my-credit-rating/ John Patterson from Brandon, Florida asks if it is possible to obtain a new Social Security number in order to improve his credit rating. This is a commonly asked question of the Bankruptcy Attorneys at our Office. We hope that this video we prepared may help to answer your question. --- - Published: 2016-05-16 - Modified: 2024-05-31 - URL: https://www.jayweller.com/chapter-7-bankruptcy-in-982-words/ Chapter 7 Bankruptcy is so named because it is a form of Bankruptcy that is formed under Chapter 7 of the United States Bankruptcy Code. The United States Congress gains its authority to create and change the Bankruptcy Laws through the specific grant of the United States Constitution. Any revisions to the United States Bankruptcy Code must be passed by Congress, and also, with certain exceptions, the approval of the President. The Bankruptcy Laws in the United States, are partly a reflection of the Bankruptcy Laws adopted from Colonial England, and a formulation of Laws created and inspired by the fundamental arguments and debates that arose during the creation of the United States Constitution. The United States Constitution specifically grants Congress the power to create and formulate Bankruptcy Laws based upon the concept that the young nation needed a standard set of Bankruptcy Laws and Principles that would apply evenly to persons in each of the numerous States. My understanding is some of the Founders felt that some States were overly protective of its Debtors. A uniform system of Bankruptcy Laws would lessen the differences experienced by persons in the different States in matters of Insolvency and Bankruptcy. This initial struggle among some of the Founders of the United States Constitution reflects the infamous struggle between the Federalist and the Anti Federalists. The Federalists favored a strong central government, while the Anti Federalists felt that power and government should be focused and held at the local level, namely the States. The Bankruptcy Laws today are a blend of these opposing viewpoints, with a strong reliance on the federal bankruptcy system, mingled with State Laws, particularly in areas of State Exemptions. Chapter 7 Bankruptcy is sometimes called a Straight Bankruptcy or a Straight Liquidation. The majority of the Debtors who file Chapter 7 Bankruptcy, however, are not required to Liquidate any of their Assets. When a qualified Debtor files Chapter 7 Bankruptcy, he is allowed certain Exemptions. Exemptions are created and applied in Bankruptcy, at either the Federal or State level, and establish what Assets are person can hold exempt, or protected from his creditors, either in a Bankruptcy, or outside of it. Chapter 7 Bankruptcy is often filed by a Debtor seeking to Discharge a significant portion of Unsecured Debts. Unsecured Debts include credit cards, medical bills, signature loans, telephone, and utility bills. Chapter 7 Bankruptcy can also discharge some tax obligations. Whether a debt owed to a taxing organization is eligible for Discharge is generally dependent upon the type of tax, the age of the tax, whether and when the appropriate tax documents were filed, and whether the tax is classified as Secured or Unsecured. Student loans are generally not eligible for Discharge in a Chapter 7 Bankruptcy. However, student loans may be Discharged in Bankruptcy if the Debtor can prove something called “Undue Hardship”. If the student loan creates an undue hardship for the Debtor, the Student Loan may be discharged or eliminated, in Bankruptcy. Secured Debts are... --- - Published: 2016-05-11 - Modified: 2024-05-31 - URL: https://www.jayweller.com/clearwater-beach-florida/ Here are some photographs that I have recently taken, in May of 2016, at Clearwater Beach. The first photograph is taken from the fifth floor of a building located at Island Way Estates, a man-made island that forms the Intercoastal that lies behind the main beach, which fronts the Gulf of Mexico, known as Clearwater Beach. The photograph was taken with an Iphone 3 telephone/camera. I used some of the editing functions available with the camera, including the “Enhancement” function, and a filter called “Process”. I like this photograph because of its general feel, and the solitary boat that is traveling around the center of the photograph. The second photograph was taken while traveling in a moving automobile on the main Causeway that brings travelers to Clearwater Beach. With this photograph, I also used the “Enhancement” function and applied the filter available on the same telephone/camera called “Transfer”. I have found that some of the best photographs are taken toward dusk, in the hours before the Sun finally sets. This is especially true when taking photographs of subjects around Clearwater Beach. At Clearwater Beach, every evening offers a different Sunset. Some of the Sunsets are very striking and unusual. Some of the best Sunsets at Clearwater Beach, in my opinion, come in the winter months. Sunsets are potentially my favorite thing about Florida. One can take very nice photographs with these camera phones. I imagine these phones will get continually better in the future. If any readers wish to use these photographs for any reason, commercial or otherwise, please feel free to do so. Simply post a “thankyou” to our website please. --- - Published: 2016-04-25 - Modified: 2024-05-31 - URL: https://www.jayweller.com/vanishing-americana-in-spring-hill-florida/ THE GIANT DINOSAURS OF SPRING HILL, FLORIDA There are two giant dinosaurs in the area of Spring Hill in Florida. The largest is located at 5299 Commercial Way in Spring Hill, Florida. Commercial Way is name of the portion of the highway commonly known as US 19. The larger dinosaur is located a few miles from Weeki Wachee, Florida, commonly known as the City of Mermaids. This giant dinosaur sits atop Harold’s Auto Center in Spring Hill. According to numerous websites, Harold’s dinosaur was originally a Sinclair Gas Station, and its design by inspired by Sinclair’s dinosaur mascot. Sinclair began using the dinosaur as its mascot in 1930. One website seems to suggest that the dinosaur itself was built in 1964. The dinosaur as a mascot for an oil company is based upon the premise that oil comes from fossils of long dead dinosaurs, other animals and plant life. From hence, comes the name Fossil Fuels. From where oil comes is a political, economic, and scientific topic which is beyond the scope of this article. Harold’s Auto Center is at the time of this writing, a fully functional repair center for automobiles. The Company Website states that Harold’s Auto has been family owned and operated since 1977. If you want service to your vehicle at Harold’s, you may contact the repair center at 352-596-7755. A few miles South of Harold’s Dinosaur is a second, pink dinosaur, known as “Dino”. Apparently, according to a number of websites, it is a representation of an Apatosaurus, and is 47 feet tall and 110 feet long. According to Wikipedia, the Apatosaurus were commonly around 75 feet long, and sometimes ranged as much as 11% to 30% bigger. Therefore, the pink dinosaur known as Dino, would be roughly half the size of its fully grown brethren, according to Wikipedia. Wikipedia goes further in its claim that this type of dinosaur was commonly found in the regions now known as Colorado, Oklahoma, and Utah. Both Harold’s Dinosaur and Dino are located on the East Side of the Highway, known as Commercial Way or US 19. --- - Published: 2016-04-11 - Modified: 2024-05-31 - URL: https://www.jayweller.com/impending-bankruptcy-of-solar-energy-company-sunedison/ THE LATEST INSTALLMENT IN THE SOLAR AND WIND ENERGY HOAX A SEC filing on behalf of SunEdison announced “due to SunEdison’s liquidity difficulties, there is a substantial risk that SunEdison will soon filed Bankruptcy. SunEdison shares have declined more than 95% in the last 12 months, and its market value has fallen from $10 billion dollars in July, 2015 to about $400 million dollars in March, 2016. SunEdison’s illusory success appears to be primarily the result of massive federal government subsidies. A report by Good Jobs states that SunEdison and its subsidiaries have received over $650 million dollars in subsidies from the federal government since the year 2000. SunEdison is not the only solar company that has been the recipient of federal government wastefulness. Solyndra is perhaps the more infamous example, along with Abengoa, SolarServe, and numerous other companies have received many millions and billions of dollars of taxpayer money. George Kaiser was one of Solyndra’s biggest investors and a prominent Obama supporter, having raised between $50,000 and $100,000 for Obama’s initial presidential campaign. Kaiser donated $53,500 himself to Obama’s 2008 election effort. Solyndra executives and board members donated approximately $30,000, in addition to Kaiser’s contributions to Obama 2008 effort. The Department of Energy, subsequent to Obama’s election, made a $535 million dollar loan to Solyndra. The loan was essentially made through Executive Order, as Congress Legislation authorizing such a loan was not present. When Solyndra defaulted on the loan, the Department of Energy restructured the loan, the Department of Energy placed the private investors, such as Kaiser, ahead of the taxpayers, for repayment. This arrangement appears to be unprecedented among government officials. The Kaiser Foundation, a non-profit group headed by George Kaiser, was an ardent supporter of Obama’s disastrous and poorly named, Affordable Health Care Act. The Kaiser Foundation provided a barrage of polls, studies, and published articles supporting Obamacare. As Solyndra began its inevitable collapse, accusations were made that the company, for political purposes, refrained from most of its layoffs until after Obama’s reelection. Even the mainstream media could not overlook the corruption oozing from the Solyndra imbroglio. ABC News: “While Energy Department officials steadfastly vouched for Solyndra-even after an earlier round of layoffs raised eyebrows-other federal agencies and industry analysts for months questioned the viability of the company. Peter Lynch, a solar industry analyst, told ABC News the company’s fate should have been obvious from the start. ‘Here’s the bottom line, Lynch said. ‘It costs them $6 to make a unit. They’re selling it for $3. In order to be competitive today, they have to sell it for between $1. 5 and $2. That is not a viable business plan’. The ABC report and Center for Public Integrity further reported that Department of Energy officials announced support for Solyndra before any marketing or legal reviews were completed. The Department of Energy also tendered a $737 million dollar loan to Solarserve to finance the construction of its Crescent Dunes project. Among the investors in Solarserve were Pacific Corporate... --- - Published: 2016-04-05 - Modified: 2024-05-31 - URL: https://www.jayweller.com/supreme-court-deadlock-affirms-lower-court-decision-holding-lenders/ SUPREME COURT DEADLOCK AFFIRMS LOWER COURT DECISION HOLDING LENDERS THAT REQUIRE SPOUSAL LOAN GUARANTEES DOES NOT VIOLATE GENDER DISCRIMINATION LAWS The issue in the Supreme Court Case of Hawkins v Community Bank of Raymore is whether the Federal Reserve has the power or authority to determine in 1985 whether spousal guarantors could bring an action for Discrimination, despite the fact such a right was not provided for in the Equal Credit Opportunity Act. The Act, which applies to applicants of loans, brings the question of whether a guarantor qualifies as an applicant, and therefore subject to the protections provided for in the same Act. With the absence of Antonin Scalia, the United States Supreme Court reached a 4-4 deadlock in the case of Hawkins v Community Bank of Raymore (Case No 14-520). The tied decision results in the Affirmation of the lower Court’s decision in the matter. Raymore was brought by the wives of two businessmen in Missouri who sought to prevent the Community Bank of Raymore from seeking the collection from them of two loans taken by their husbands, the monies of which were used to invest in a failed real estate venture. The women argued that by requiring them to guarantee the loans taken by their husbands, the Bank of Raymore violated the Federal Reserve’s expansion of the Equal Credit Opportunity Act, which prohibited in some instances, discrimination against women applicants based on their marital status. The Eighth Circuit Court Affirmed the lower Court decision, holding that the Equal Credit Opportunity Act does not apply to guarantors of loans since such persons are not applicants under the law. The Eight Circuit held that the Federal Reserve improperly included guarantors under the protections provided in the Equal Credit Opportunity Act, because guarantors are not applicants, as they are not directly involved in the process of applying for a loan, and not subject to direct Discrimination. Because the Supreme Court reached a 4-4 tie in the Raymore Case, the Eighth Circuit Court decision was effectively Affirmed by the Supreme Court. This decision contrasts with decisions in other Courts, notably the Sixth Circuit Court, and with State Court decisions in Alaska, Missouri, Virginia, and Iowa. John Duggan, an Attorney representing Hawkins, argued before the Supreme Court: “Well, I think it’s very important because regulators made a reasonable interpretation under their broad grant of authority that when they’re required, when a condition is placed upon their approval, that they have to come forward and be contractually obligated to repay the applied-for debt, they are an applicant”. The Community Bank of Raymore maintained that the definition of applicant is clear, and does not apply to guarantors. Even some of the more liberal members of the Supreme Court questioned the definition of applicant, as argued by the Plaintiffs and the government, which entered on the side of the Plaintiffs. Justice Stephen Breyer: “Now, it seems to me maybe you’re pushing the edge of the word applicant as they didn’t intend it in the statute.... --- - Published: 2016-03-28 - Modified: 2024-05-31 - URL: https://www.jayweller.com/50-cent-owes-855091-to-mother-of-child-he-sired-g-unitss-bankruptcy-attorney-says-oy-vey/ According to the August 4, 2015 Wall Street Journal Article, Mr. Jackson owes domestic support obligations, in this instance, Child Support, to a former romantic attachment, named Daphne Narvaez. The child of Mr. Jackson and Ms. Narvaez is named Sire. Sire was born in September of 2012. Numerous articles suggested that 50 Cent did not originally acknowledge his parentage of Sire. Although the child’s birth certificate named the child, “Sire Jackson”, 50 Cent did not sign the birth certificate. However, subsequent postings of photographs of Sire on Social Media, and other statements by 50 Cent may indicate that the rapper considers Sire to be his child. Ms. Narvaez is the second woman with whom Mr. Jackson is said to have produced a child. The first woman is Shaniqua Tompkins, with whom Mr. Jackson produced a child named Marquise. Ms. Narvaez was born on February 8, 1987, in Olongapo, Philippines, to a Puerto Rican father and a Filipino mother. In recent years, Mr. Jackson was charged with five counts, including one count of domestic violence, and four counts of vandalism, arising from a conflict with Ms. Narvaez, at her Toluca Lake condominium, in California. In the altercation, Ms. Narvaez allegedly locked herself in her bedroom, and Mr. Jackson broke down the door and kicked her. Mr. Jackson eventually pleaded no contest to the vandalism and the domestic violence charge was dropped. As part of the plea, Mr. Jackson agreed to Counseling and paid Ms. Narvaez $7,100 for damages to the condominium. A Restraining Order that Ms. Narvaez had secured against Mr. Jackson remained in effect. A Wall Street Journal Article recounts the rap artist DMX, who filed for Bankruptcy in 2013, stating that his $1. 2 million dollars in Child Support obligations prevented him acquiring a passport, in order to perform outside the United States. Although Mr. Jackson may owe almost $856,000 in Child Support to Ms. Narvaez, most media sources appear to describe this obligation in an inaccurate fashion. The suggestion is that Mr. Jackson is delinquent in his Child Support obligations in an amount approaching $856,000. However, an August 6, 2015 Article in Euroweb states that the claim of $855,091, filed by Ms. Narvaez in Mr. Jackson’s Chapter 11 Bankruptcy, represents the sum total of Child Support that Mr. Jackson is required to pay, until Sire attains eighteen years of age. Mr. Jackson is ordered to pay Child Support to Ms. Narvaez for approximately another 16 years, and at $4,330 per month, that obligation will total $855,091, according to Ms. Narvaez’s calculations. This author will examine the dynamics of the Child Support obligations of Mr. Jackson in his Chapter 11 Bankruptcy, and the accompanying bankruptcy laws, and strategies, in subsequent chapters of this Series. Image credit: www. facebook. com/50cent --- - Published: 2016-03-21 - Modified: 2024-05-31 - URL: https://www.jayweller.com/50-cent-battles-in-bankruptcy-court-to-save-his-connecticut-mention-former-home-of-iron-mike-tyson-is-subject-in-50-cents-bankruptcy-filing/ In 2003, 50 Cent purchased his home at 50 Poplar Hill Drive, in Connecticut, for $4. 1 million dollars. The Seller was former boxer Mike Tyson. The home has 21 bedrooms and 25 bathrooms. It features a screening room, dance club or disco, casino, an indoor pool, gymnasium, and a basketball court. The house spans 51,657 square feet. After purchasing the Poplar Hill property, 50 Cent invested an additional $6-10 million dollars into the property. According to an October 7, 2015 Article in Realtor. com, the property consumes approximately $67,000 per month to maintain. According to an Article titled “50 Cent Bankruptcy: By The Numbers”, in the Wall Street Journal, dated August 4, 2015, the Fair Market Value of Mr. Jackson’s Farmington, Connecticut Mansion is $8. 25 million dollars and the property has an “unpaid loan of about $1 million dollars” remaining. In addition, Mr. Jackson, according to the same Wall Street Journal Article has investment properties in Atlanta and New Jersey, each with Values less than $600,000 and a New Jersey apartment. Beginning in 2007, 50 Cent has made efforts to sell the Poplar Hill home. He originally listed the property for sale at $18. 5 million dollars, and subsequently reduced the asking price four times, to a listing price of $10 million dollars, by the end of 2010. Because the home is an Asset and a Liability of Mr. Jackson, the home is necessarily included in his Chapter 11 Bankruptcy. Mr. Jackson must, as a portion of his Bankruptcy, reveal his intentions regarding the home, along with a description of this Asset, including any furnishings or other property that it contained in the home. Subsequent chapters in this Series will provide the actual Bankruptcy Court Documents illustrating these holdings, including Mr. Jackson’s intentions regarding this property, and the legal intricacies and strategies, pertaining to the treatment of such property in Bankruptcy Proceedings. Image credit: Google Earth. --- - Published: 2016-03-20 - Modified: 2024-05-31 - URL: https://www.jayweller.com/the-white-birds-of-port-richey/ WHO ARE OUR FRIENDS THAT RESIDE ON SHOPPERS WAY BEHIND THE EMBASSY CROSSINGS PLAZA For many years, our law firm had maintained an office in Port Richey, in the Embassy Crossings Shopping Plaza. Embassy Crossings is located in Port Richey, and contains such notable occupants as the United States Postal Service, Ross, Books A Million, Bed, Bath & Beyond, and other large scale Retailers. Behind the Embassy Crossings Shopping Center, is a short street that connects travelers to the Shopping Center named Shoppers Way. Anyone who travels on Shoppers Way is certain to notice the large collection of white birds that congregate in a retention pond, along its border. According to an Article in the St Petersburg Times, locals refer to the location as Embassy Roost. Hundreds of white birds can be seen, perched in the cypress trees that rise out of the retention pond, which is surrounded by a 5’5” chain link fence. Among the types of birds that reside in Embassy Roost include Cattle Egret, Snowy Egret, Little Blue Heron, and Anhinga. Another 20 different species of birds will visit the area. However, it is the Wood Storks that attract the most attention from those who witness this unusual place in Port Richey, in Florida. Wood Storks are large birds with a wingspan reaching five feet. The bird is mostly white but has black tail feathers. The Wood Storks were placed on the federal endangered species list in 1984. Billy Brooks, a biologist who works for the US Fish and Wildlife Service, states that in 2006, there were approximately 12,000 nesting pairs of Wood Storks in the United States. Brooks says that the Wood Storks catch fish in the water using their sense of touch. According to Brooks, the Wood Storks have a special ability called tacto-location. The Stork places its slightly opened bill into the water. When a fish touches it, the bill closes shut in approximately 25 milliseconds. This is evidently one of the fastest reflexes recorded in a vertebrate. According to the same St Petersburg Times Article, many of the Wood Storks are moving north, into Georgia and South Carolina, because of issues of drought and human development. Ken Tracey of the West Pasco Audubon Society, states that the Storks will use alligators as a measure of protection against certain predators. The Wood Storks of Embassy Roost usually perch in the cypress trees that strangle out of the retention pond. The cypress trees, situated in the middle of the pond, are completely surrounded by water. Any alligator that wanted to eat one of these birds would likely find them out of range, as it leaps from the green waters of the pond. Any other predator, such as a raccoon, would have to traverse the waters of the pond, making them possible prey to the alligators. Embassy Roost is a tremendous location and configuration for the protection of these birds from possible predators. Mr. Tracey, “Raccoons can devastate an entire rookery in a single night”. This... --- - Published: 2016-03-14 - Modified: 2024-05-31 - URL: https://www.jayweller.com/fifty-cents-feud-with-sleek-audio-continues-in-bankruptcy-court-50-cents-headphone-deal-gets-da-club/ SMS Audio's SYNC by 50 headphones Now, comes the matter of Sleek Audio versus Curtis James Jackson, III. In 2011, 50 Cent partnered with Bradenton, Florida based, Sleek Audio to create and market a headphones product, to be named Sleek by 50. 50 Cent invested $2 million dollars into the project. The partnership became acrimonious and 50 Cent decided to develop, on his own, a headphones product called Street by 50, under the brand to be named SMS Audio. Sleek Audio brought legal action against 50 Cent, for “misappropriating trade secrets, breaching his fiduciary duty to Sleek, participating in a civil conspiracy, breaching his fiduciary duty to Sleek, and being unjustly enriched”. An Arbitrator decided the matter between Sleek Audio and 50 Cent. The Arbitrator found in favor of Sleek Audio, and determined that 50 Cent be ordered to pay $11,693,247 in Damages and an additional $4,488,331 in Attorney Fees. Reported in the Business Insider on October 7, 2015; according to 50 Cent, as represented through his Attorneys: Sleek missed its launch deadline and never ended up marketing the headphones. The rapper decided to form his own company, SMS Audio, to launch the headphones, and he claims his lawyers at Garvey Schubert Barer assured him he wouldn’t be infringing on intellectual property rights held by Sleek. 50 Cent is seeking an Award for Damages against Garvey Schubert Barer, claiming that his prior Attorneys committed Malpractice in their representation of him. Craig Weiner, at Robins Kaplan, and one of 50 Cent’s Bankruptcy Attorneys: “Mr. Jackson’s decision to file this action came only after it was determined that a settlement could not be reached between the parties”. The Law Firm of Garvey Schubert Barer made a Statement regarding the controversy: “We understand that Mr. Jackson is disappointed in the outcome of Sleek Audio’s arbitration against him. However, Mr. Jackson’s complaint against Garvey Schubert Barer omits a number of relevant facts and misstates a number of others, and we will respond to the allegations in accordance with the court’s rules”. “Our attorneys properly counseled Mr. Jackson and his sophisticated team of financial and operational advisors about the transactions and the arbitrations with Sleek”. The information presented above is only a brief description of the controversy between 50 Cent and Sleek Audio, which began with a devolution of a partnership, segued into an Arbitration Award against Mr. Jackson, and continued in the Bankruptcy Court. Because this portion of the Article on the 50 Cent-Sleek Audio controversy is based upon information the author gathered from Articles presented through various mainstream media, tabloid, and other similar publications, the author was forced to discard much information that later may prove to be misleading or false. The later Articles in this Series on the Bankruptcy of Curtis Jackson will explain the Sleek Audio controversy in greater detail, along with involved commentary on the legal strategies and laws relating to the headphones imbroglio. Image credit: Wikien2009 (Wikipedia) --- - Published: 2016-03-07 - Modified: 2024-05-31 - URL: https://www.jayweller.com/former-paramour-of-rick-ross-damaged-by-rapper-50-cents-publication-of-sex-tape-the-misadventures-of-pimpin-curly/ The feud began, allegedly in 2009, when Rick Ross criticized Fifty Cent on a rap song “Mafia Music”, in retaliation for when Fifty Cent gave him a dirty look at the BET Awards, of which they were both in attendance. Fifty Cents according to the same Article in the Daily Mirror, claims he did not remember seeing Rick Ross at the BET Awards event. Fifty Cents responded with his own rap song, entitled “Officer Rickey”, his own slur against Mr. Ross, who was a former police officer. Lavonia Leviston is a former romantic attachment of Rick Ross. Lavonia Leviston procreated a child with Rick Ross. According to the Daily Mirror, Fifty Cents escalated the feud by publishing a sex tape that includes Lavonia Leviston, and a former romantic attachment of hers, Maurice Murray, in sexual relations. The thirteen minute video features Leviston having sexual relations with the former paramour, Maurice Murray, with Fifty Cents face superimposed over Mr. Murray’s head as Fifty Cent’s alter ego Pimpin’ Curly. The July 14, 2015 Daily Mirror Article claims that the video as of the time of the Article, generated over 4 million views. Ms. Leviston, according to the same Article said that the publication of the video made her depressed to the point of contemplating suicide. “It was like someone had just took a knife, stabbed me in the heart, twisted it and took it out”. Fifty Cents Attorney, James Renard told the jurors in the Sex Tape Case that Fifty Cent was given the videotape from Ms. Leviston’s former romantic attachment, Maurice Murray, who had promised that Ms. Leviston had no objections to the publication of the videotape. The Daily Mirror Article claims that there is a filmed deposition in which Fifty Cent says that he did not tender Ms. Leviston’s express permission to use the videotape because Mr. Murray said that Ms. Leviston was “cool with it”. Mr. Renard, Fifty Cents Attorney in the Sex Tape Case: “This whole fiasco was precipitated by a pack of lies by Maurice Murray”. According to the August 3, 2015 Article in Law360, 50 Cent claimed that Mr. Ross appeared on a radio show in Washington, D. C. , in March, 2009, and informed his interviewer, Big Tigger, that he intended to post the video. The video was posted the following day. 50 Cent claims that he only linked to video. Ms. Leviston, through her Attorneys, brought a Civil Court Case against Mr. Jackson, claiming Damages resulting from Mr. Jackson’s publication of the videotape. The Jury in the Sex Tape Case awarded $5 million dollars in compensatory damages to Ms. Leviston. Fifty Cent, also known as Curtis Jackson, filed Chapter 11 Bankruptcy, serving to stop, at least temporarily, the determination of further punitive damages, in the same Case. July 16, 2015, the Attorneys for Mr. Jackson Objected in the Bankruptcy Court to any assessment of Punitive Damages: “Punitive damages are penalty claims that are routinely subordinated or disallowed in the bankruptcy courts”. On July 21,... --- - Published: 2016-02-29 - Modified: 2024-05-31 - URL: https://www.jayweller.com/the-chapter-11-bankruptcy-of-curtis-james-jackson-iii-aka-50-cent/ This Article is the first entry in this Author’s Series on the Chapter 11 Bankruptcy filing of Curtis James Jackson III, or the man more famously known as 50 Cent, Fiddy, and sometimes, G Unit. The entries in this Series will be presented, as follows: FORMER PARAMOUR OF RICK ROSS DAMAGED BY RAPPER 50 CENT’S PUBLICATION OF SEX TAPE: THE MISADVENTURES OF PIMPIN’ CURLY FIFTY CENTS FEUD WITH SLEEK AUDIO CONTINUES IN BANKRUPTCY COURT: 50 CENT’S HEADPHONE DEAL GETS DA CLUB 50 CENT BATTLES IN BANKRUPTCY COURT TO SAVE HIS CONNECTICUT MANSION: FORMER HOME OF IRON MIKE TYSON IS SUBJECT IN 50 CENTS BANKRUPTCY FILING 50 CENT OWES $855,091 TO MOTHER OF CHILD HE SIRED: G UNIT’S BANKRUPTCY ATTORNEY SAYS, “OY, VEY! ” FULL PETITION AND SCHEDULES WITH ANALYSIS IN FIFTY CENT’S CHAPTER 11 BANKRUPTCY FULL COURT DOCKET AND ANALYSIS IN THE CHAPTER 11 BANKRUPTCY OF CURTIS JAMES JACKSON, III, ALSO KNOWN AS THE RAPPER FIFTY CENT EXAMINATION OF ADVERSARY PROCEDING S IN THE BANKRUPTCY OF CURTIS JAMES JACKSON, III, ALSO KNOWN AS THE RAPPER FIFTY CENT EXAMINATION OF ATTORNEY STRATEGY IN THE CHAPTER 11 BANKRUPTCY OF CURTIS JACKSON, III, AKA FIFTY CENT HIP HOP INVADES THE BLUE BLOODS OF CHAPTER 11 BANKRUPTCY REORGANIZATION Curtis James Jackson III, more famously known as 50 Cent, filed Chapter 11 Bankruptcy on July 13, 2015. His Bankruptcy Case was filed in the US Bankruptcy Court, in the District of Connecticut, in Hartford. The Bankruptcy Case Number is 15-21233. The Judge assigned to the Bankruptcy Case of Mr. Jackson is Ann M. Nevins. Curtis Jackson lists his address in the Chapter 11 Bankruptcy as 50 Poplar Hill Drive, Farmington, Connecticut. Curtis Jackson is represented in the Chapter 11 Bankruptcy by numerous Attorneys: James Berman and John Cesaroni of Zeisler and Zeisler; Sherli M Furst, Paul LiCalsi, Ofer Reger, David B Shemano, and Craig Weiner of Robins Kaplan; and John D Gaither, James Muenker, and Patrick J Neligan of Neligan Foley. The United States Trustee in the Chapter 11 Bankruptcy of Fifty Cent is represented by Holley L Claiborn, Abigail Hausberg, and Kim L McCabe. Mr. Jackson’s Attorney, William A Brewster III of Brewer Attorneys & Counselors issued a Statement: “This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer while he pursues an orderly reorganization of his business affairs”. This 9 part Series on the Chapter 11 Bankruptcy of Curtis James Jackson III, aka 50 Cent, will examine some of the more salient aspects of Mr. Jackson’s Bankruptcy, including the Litigation and eventual Judgment resulting from 50 Cent publishing a sex tape featuring the former romantic attachment of Rapper, Rick Ross. This Series will also examine the Litigation relating to 50 Cent’s disastrous partnership with headphone company, Sleek Audio, both preceding the Bankruptcy filing, and within the Bankruptcy Court. This Series will also examine other prominent Creditors in the Chapter 11 Bankruptcy of 50 Cent, including the holder of the Mortgage on Mr. Jackson’s... --- - Published: 2016-02-23 - Modified: 2024-05-31 - URL: https://www.jayweller.com/the-strange-death-of-antonin-scalia-what-really-happened-at-the-cibolo-creek-ranch/ PART TWO IN THE SERIES ON THE DEATH OF SUPREME COURT JUSTICE ANTONIN SCALIA The first Article on Antonin Scalia was primarily an combination of the information, arranged as a narrative, that were given regarding the death Mr. Scalia, as presented in media sources found on the internet. This Article will supplement the information found in the first Article. Judge Cinderela Guevera pronounced dead by telephone at 1:52 p. m. after she was called by Sheriff Danny Dominguez, according to a February 13, 2016 Article in Big Bend Now. According to the same Article, the standard which permits a declaration of death by telephone, according to the Texas Code of Criminal Procedures, is whether it was “reasonable”. Judge Guevera evidently wanted to clarify information regarding Mr. Scalia’s death before determining whether to order an Autopsy: “As part of my investigation one of the things I did ask the sheriff and the U. S. Marshall: ‘Were there any signs of foul play? And they said, “Absolutely not’. At that time, I still wanted to be careful and asked them if physician would call me”. According the same Article in Big Bend Now, Scalia’s personal doctor called Guevera at 8:00 p. m. on Saturday night. “When {the physician} explained {Scalia} had just visited on Wednesday and Thursday, and {the doctor} had done an MRI, then I felt comfortable what I knew was going on with him physically”. It appears that all of the characters involved in the Scalia mystery, including Judge Guevera, the two Justices of the Peace, Bishop and Beebe, and Mr. Poindexter, all appear to be Democrats. Another person with interesting relations with Antonin Scalia is a man named Bryan A. Garner. An Article in the New Yorker, dated July 16, 2012, titled “Writing With Antonin Scalia, Grammar Nerd” relays the first meeting of Scalia and Garner: “The first time Bryan A Garner, a lawyer and writer, met Antonin Scalia – over breakfast at the Washington, D. C. , Four Seasons, in 2006 – the Justice spent the early part of their conversation praising a magazine essay he had recently read on English grammar and usage. Garner, who has now written two books on Scalia, felt it would be bad form to interrupt, but when the Justice had trouble remembering the essay’s author, he suggested a name. Scalia assented, ‘Sir’, Garner replied politely, “that essay is a review of my book”. Garner co-authored two books with Antonin Scalia, titled, “Making Your Case: The Art of Persuading Judges in 2008 and “Reading Law: The Interpretation of Legal Texts in 2012. Mr. Garner, in the same New Yorker Article recounts his conversations with Mr. Scalia preceding the second book: “In 2008, before we went to press, I suggested that we should do a second book together on textualism. I wanted to write something that would be a better guide to judges and lawyers than we had on the market. And, after we finished the book, the first book, Justice Scalia said no... --- - Published: 2016-02-17 - Modified: 2024-05-31 - URL: https://www.jayweller.com/death-of-antonin-scalia-combination-of-all-known-facts-sorrounding-scalias-death-up-to-february-16-2016/ US Supreme Court Justice Antonin Scalia was pronounced dead on Saturday, February 13, 2016. Scalia died at the Cibolo Creek Ranch in Presidio County, Texas. Scalia was appointed to the Supreme Court by Ronald Reagan in 1986, and was the longest serving Justice on the Supreme Court. Scalia was 79 years old. Scalia was staying at the Cibolo Creek Ranch in Presidio County, Texas, as part of a group engaged in quail hunting. The Cibolo Creek Ranch is approximately 30,000 acres. An Article in Western Journalism said the Ranch is 66,000 acres. According to the Washington Post, the US Marshals Service, which provides security to the Supreme Court Justice, issued a Statement that Scalia declined a security detail at the Ranch. Therefore, no Marshals were present at the time of his death. The Ranch was first established by Milton Faver in 1857. Mr. Faver was known as the first Texas cattle baron west of the Pecos. The Ranch includes “El Fortin de Cibolo” which was a fort built in the 19th Century to protect Settlers against the Apache Indians. The Cibolo Creek Ranch, according to reports, has played host to various celebrities, including Mick Jagger, Julia Roberts, and Tommy Lee Jones. John Poindexter has owned the Cibolo Creek Ranch for more than 25 years, who restored the Ranch to its present condition. Milton Faver is buried at the Ranch in a mausoleum at the top of a hill. In a special promotion, rooms at the Ranch ranged from $545 to $565 per night. Included was a tour of the Ranch and a meal package. Activities include hiking, bird watching, horseback riding, and ATV riding tours. Scalia arrived at the Ranch on Friday and attended a private party with about 40 people that night John Poindexter, a Houston businessman who owns the Cibolo Creek Ranch, said Scalia and a friend arrived at the Ranch Friday, by a chartered airplane that traveled through Houston. According to Poindexter, later that day (Friday), Scalia went out with a group to hunt quail but “he did not exert himself. He got out of the vehicle and walked around some”. John Poindexter was given in 2010 by President Obama, the Presidential Unit Citation for his combat unit’s service during the Vietnam War. An Article in Snopes stated he was awarded this Citation on October 20, 2009. Poindexter’s company, JB Poindexter, is the world’s largest producer of truck bodies and pickup truck accessories. John Poindexter is the leader of the Southwest Priory of the Members of the Order of St Hubertus, which according to a press clipping and photograph of which Poindexter is included, is the highest honor for international hunting enthusiasts. The Order of St Hubertus was founded in the 17th Century, and has 250 members in the United States and 600 members worldwide. The Southwest Priory includes Texas. The website for the International Order of St Hubertus states that the Organization mission is to: promote sportsmanlike conduct in hunting and fishing; to teach and preserve... --- - Published: 2016-02-15 - Modified: 2024-12-18 - URL: https://www.jayweller.com/natural-born-citizen-defined-part-iii/ III. ELIGIBILITY OF VARIOUS UNITED STATES PRESIDENTIAL CANDIDATES After reading the writings and testimony of the Founders and Signors of the United States Constitution, the words of Emmanuel de Vattel, the evidence surrounding the creation of the 14th Amendment, and the findings of the United States Supreme Court, amongst other evidence, a reasonable thinker can determine what is the definition of a Natural Born Citizen, as such term relates to the United States Constitution. In order to be a Natural Born Citizen for purposes of eligibility to the Presidency of the United States, and in conformity to the United States Constitution a Person must: Be born in the United States of America, or be born in lands that are Territories of the United States or under its Sovereignty; AND Be born to parents, both of whom were United States Citizens at the time of the birth of such Person. An opponent of this very clear definition of who qualifies to be a Natural Born Citizen may argue that the US Constitution is a “living document”, which must be interpreted according to changing experiences and circumstances. Some issues that did not exist at the time the United States Constitution was created, are present now today. However, this conceptions held by “Living Constitutionalists” only have merit in addressing limited issues when analyzing the United States Constitution. For example, the United States Constitution prohibits “unreasonable searches and seizures”. Does this prohibition restrain a drone peering in the open window of a homeowner? Does this prohibition restrict surveillance planes that scan for infrared activity, without physically entering the domain of the occupant of a dwelling, in order to detect a marijuana grow house? These technologies were not contemplated in the late 1700s. The Living Constitutionalist may argue that the United States is increasingly part of a global economy, and today has a large immigrant population, many of whom would be ineligible for the Presidency, based upon a definition of Natural Born Citizen, as defined by Emmerich De Vattel, and other natural law proponents. Such an argument in fact bolsters the arguments of the natural law thinkers that the President today must have primary and unquestioned allegiance to the United States, and to no other foreign Sovereign. In the 1700s, there were many forces outside the United States, mostly found in its former oppressor, in England, determined to destroy the sovereignty of the new republic. Today, there are probably much more formidable forces, proponents of both globalism and the diminution of the sovereignty and independence of the United States, determined to achieve their ends. The forces towards globalism and weakened State sovereignty, more than perhaps any time in the history of the United States, require that Natural Born Citizen be defined in its most restrictive manner. To weaken the requirements for a person to qualify as a Natural Born Citizen, because of the modern goals of globalism, and vanishing borders favored by some, is directly treasonous to the principles promulgated by the United States Constitution... --- - Published: 2016-02-08 - Modified: 2024-05-31 - URL: https://www.jayweller.com/natural-born-citizen-defined/ I. REQUIREMENTS TO BE PRESIDENT OF THE UNITED STATES Image source: wikimedia. org The United States Constitution was Ratified in 1788. The United States Constitution defines the requirements for a person to be eligible, to serve as the President of the United States. Article II, Section 1, clause 5 of the United States Constitution states that “No Person, except a natural born Citizen, or a Citizen of the United States at the time of the Adoption of this Constitution, shall be eligible to the office of president; neither shall any person be eligible to that Office who shall not have attained to the Age of thirty five Years, and been fourteen Years a Resident within the United States”. One must be a Natural Born Citizen to be the President or Vice President, of the United States of America. There is no difference in the Rights held by a Citizen versus a Natural Born Citizen in the United States, other than that one who is not a Natural Born Citizen cannot be either the President or Vice President of the United States. A Citizen can be a Senator, a Congressperson, a member of the US Supreme Court, or any other forms of Office, but unless that Citizen is a Natural Born Citizen, he cannot be President or Vice President of the United States. The Founders of the Constitution, and those by whom they were influenced, understood the necessity that the President of the new Nation have its unquestioned allegiance. The new Republic was breaking from the chains of British imperialism, and did not want the Executive Leader of the Nation having allegiance or sympathy towards either England, or other foreign Sovereigns. The US Constitution requires that the President be at least 35 years old, and a Resident within the United States for 14 years prior to his election. This combined, with the Natural Born Citizen requirement, was formulated primarily to encourage a Presidency held by a person who has first allegiance to the United States, and the United States Constitution. The age and residency requirement was crafted to encourage a President with significant experience, and one who is known to the Electorate. Only the President takes an Oath to Preserve, Protect and Defend the US Constitution. Officers for all other Offices take an Oath simply to Support the US Constitution. The President, according to the formulation of the Founders of the United States Constitution, must be the ultimate protector and defender of the US Constitution. II. DEFINING WHO IS A NATURAL BORN CITIZEN A Natural Born Citizen is a person whose Citizenship is beyond dispute, and not subject to conflicting claims, nor granted by Statute or any Act of a Sovereign, but occurs naturally in the person according to principles that do not rely on the Laws of Decisions of the Sovereign. A Natural Born Citizen is a Citizen by no Act of Law, or Legislation, such as Naturalization. Congress can only Naturalize but cannot determine who is a Natural Born... --- - Published: 2016-02-01 - Modified: 2024-05-31 - URL: https://www.jayweller.com/yes-virginia-student-loans-can-be-discharged-in-bankruptcy-part-3/ WITH STUDENT LOANS IN BANKRUPTCY, THE FACTS DETERMINE THE LAW PART THREE OF THREE By Jay Weller Please refer to Parts One and Two of our Blog Series on the Discharge of Student Loans in Bankruptcy, for context and understanding. Many Articles found in the mainstream media references Student Loans in Bankruptcy decry the difficulty of Discharging such Student Loans. However, in reality, many Student Loans can be Discharged in Bankruptcy, but the Debtors do not seek such relief that they may be eligible. A Study by Jason Juliano, possessor of a Juris Doctorate from Harvard Law School and PhD Student in Politics at Princeton, found that approximately 40% of those who sought to Discharge their Student Loans in Bankruptcy were successful. However, most of the persons, 99. 9%, filing Bankruptcy with Student Loan Debt never seek to Discharge their Student Loans. Furthermore, Juliano found that Debtors who successfully Discharged their Student Loans in Bankruptcy were less likely to be employed, more likely to have a physical hardship and more likely to have lower incomes the year before they filed for Bankruptcy. Of 169,774 Student Loan Debtors who filed Bankruptcy in 2007, only 213 Debtors filed Adversary Proceedings seeking the Discharge of their Student Loan Debt and 169,557 sought the Discharge of their Student Loan Debt but did not file an Adversary Proceeding. The Debtors that did not file an Adversary Proceeding but sought the Discharge of Student Loan Debt probably are persons on some form of Disability, where a Court such as in Social Security Disability Cases, has prior adjudged that the Debtor is Disabled, and unable to work. Of the 213 Debtors who filed Adversary Proceedings seeking the Discharge of their Student Loan Debt in Bankruptcy, 51 received a Full Discharge, 30 received a Partial Discharge, 25 received some form of Administrative Relief, and 107 received no Discharge or No Relief. The Student Loans represented in Juliano’s Study represented approximately 71. 2 of all Student Loans. Jay Weller is a Bankruptcy Attorney and the Founder and President of Weller Legal Group. Weller Legal Group represents only Debtors in Bankruptcy Proceedings, and other Debt Related Issues. Weller Legal Group has Offices in Clearwater, Port Richey and Lakeland, Florida. Image credit: zimmytws --- - Published: 2016-01-26 - Modified: 2024-05-31 - URL: https://www.jayweller.com/yes-virginia-student-loans-can-be-discharged-in-bankruptcy-part-2/ WITH DISCHARGE OF STUDENT LOANS IN BANKRUPTCY THE FACTS DETERMINE THE LAWPART TWO OF THREE PARTSBy Jay Weller This is our Second Part in our Blog Article regarding the Discharge of Student Loans in Bankruptcy. Please refer to Part One for context and understanding. The Cases of Tetzlaff and Conway teach us some valuable lessons in terms of when a Student Loan may be Discharged in Bankruptcy. One such lesson is that in Legal Matters, the Facts often determine the Law. Mr. Tetzlaff appears to be a much less reputable Debtor than Ms. Conway. Mr. Tetzlaff did not appear to hold any sort of employment, never attempted to repay his Student Loans and claimed his inability was due to among other factors, alcoholism and depression. Ms. Conway held various positions, in which she was laid-off, did have employment as a waitress and attempted to pay her Student Loans. Ms. Conway is a more sympathetic Debtor, at least based upon those facts. In determining whether a Student Loan may be Discharged, at least upon the facts of these two cases, and the Law as announced in Brunner, and perhaps in Conway, these are the qualities the Courts will examine in determining whether a Student Loan should be Discharged in Bankruptcy: Did the Debtor make an attempt to repay the Student Loan? Did the Debtor enter a Debt repayment program, such as the program announced by the Federal Government where the Student Loan Debtor’s monthly income and expenses is used to determine what he or she is able to contribute monthly to Student Loan payments, and the Debtor can receive forgiveness of whatever balances are remaining on the Student Loans after a twenty year repayment period. Did the Debtor make a concerted effort to gain employment, including in the field of which is the subject of their Collegiate Degree? Did the Debtor make an effort to gain any form of employment that would enable them to make payments on their Student Loan? That Ms. Conway took employment as a waitress, presents to the Court a more sympathetic character, who does not portend that she is “above” any form of employment (don’t get me wrong, most waitresses are probably much more honorable in their profession than most of the journalists in the United States presently). How diligent was the search of the Debtor for gainful employment? How many resume’s did the Debtor send to prospective employers? How many interviews did the Debtor attend? What are some physical factors that are creating difficulties for the Debtor to make payments on the Student Loan and what is the likelihood that those factors will continue indefinitely. For example, if a Debtor had physical handicap that prevented him from obtaining gainful employment, such status would be looked at more favorably than Mr. Tetzlaff’s alcoholism. Does the Debtor have Dependants? What type of Degree did the Debtor earn? Ironically, and probably contrary to sound Public Policy, if a Debtor earns a Degree in a field in which there... --- - Published: 2016-01-19 - Modified: 2024-05-31 - URL: https://www.jayweller.com/yes-virginia-student-loans-can-be-discharged-in-bankruptcy/ WITH DISCHARGE OF STUDENT LOANS IN BANKRUPTCY THE FACTS DETERMINE THE LAWPART ONE OF THREE PARTSBy Jay Weller The mainstream media is reporting on a recent case pertaining to the Discharge of Student Loans in Bankruptcy, in which the Supreme Court elected to not hear on Appeal, as an indicator that Student Loans will remain essentially impossible to Discharge in Bankruptcy. This reporting is misleading regarding the availability to Discharge Student Loans in Bankruptcy. For example, The Wall Street Journal Articles first sentence declares that the Supreme Court “turned away an appeal that sought to make it easier to erase student loans in bankruptcy, sidestepping an issue that has become a focal point for consumer advocates and lawmakers as millions of borrowers fall behind on their payments”. Mark Tetzlaff, an unemployed 57 year old, Wisconsin man sought to Discharge approximately $260,000 in Student Loans, in a Chapter 7 Bankruptcy. The man, who allegedly lived with his mother, and who survived along with his mother, solely based upon her Social Security income, claimed that his Student Loan should be Discharged because his alcoholism, depression and criminal record prevented him from finding gainful employment. Mr. Tazlaff twice failed the bar exam. The Court denied that Mr. Tazlaff’s Student Loans should be Discharged in the Bankruptcy, and noted that Mr. Tazlaff failed to make a solitary payment on his Student Loan Debt. The Court in Tazlaff applied the Brunner Test in determining whether the Student Loan should be Discharged in Bankruptcy. Under Brunner, in order for a Student Loan to be Discharged in Bankruptcy, the Debtor must demonstrate: He cannot maintain a minimal standard of living for himself or his dependants if required to pay the Student Loans; AND Additional circumstances exist indicating that his financial condition is likely to persist for a significant portion of the loan repayment period; AND That he made a good faith effort to repay the Student Loan. The Debtor argued that the Court should apply the test used in the Eighth Circuit in determining whether the Student Loan should be Discharged in the Chapter 7 Bankruptcy, and not the Brunner Test. The Brunner Test is the Test used in the majority of the Circuit Courts in determining Dischargeability of Student Loans in Bankruptcy, including the Circuit in which Mr. Tazlaff’s Case was decided. The Eight Circuit Court Test that Mr. Tazlaff was referring was found in the Case of Conway v Collegiate Trust. In Conway, the Debtor graduated with $118,000 in Student Loans and a B. A. in Media Communications. Conway allegedly experienced a number of lay-offs from employment subsequent to her graduation from the University. The Student Loan provider contested the Discharge of the Student Loan Debt, and the Missouri Bankruptcy Court agreed, deciding that the Debtor had 30 more years to navigate the employment market, and indicative of her ability to repay the Student Loan. The Debtor Appealed the Decision of the Bankruptcy Court in Missouri, and the Eighth Circuit Court Overturned the Lower Bankruptcy... --- - Published: 2015-12-28 - Modified: 2024-05-31 - URL: https://www.jayweller.com/budgeting-for-the-christmas-and-holiday-season-part-2/ As a Bankruptcy Lawyer or Bankruptcy Attorney in Clearwater, Florida, many Clients have questions as to how to Budget their Finances during the Christmas and Holiday Season. In the prior Blog Post, we discussed the first step of discerning what elements that are directly deducted from you Gross Income can be reduced. After you have determined your total monthly take home income, then determine what are your monthly expenses. Write on the top of a piece of paper you take home income and then under that figure, write down your monthly expenses. Now, determine what expenses are not necessary or should be reduced or limited. Repeat this process monthly. Attempt to create a cushion in your Budget by committing 5% to 10% of your monthly income to Savings. I understand that in the real world, this may not be possible. However, it is important to create some Savings for emergencies or other needs, including a Christmas or Holiday fund. If you spend money on presents or other gifts or expenses during the Holiday Season, it is best to determine how much of your monthly budget you can afford towards such expenses, and then save such monies monthly as part of your Budget. I hope this Blog and the prior Blog article have given some helpful advice regarding Budgeting during the Holiday and Christmas Season. Thank you for your Consideration. The Bankruptcy Attorneys, Bankruptcy Lawyers, and Counselors at our Clearwater, Port Richey and Lakeland Offices are here to help you if you are in Financial Distress. We primarily assist Clients who are filing Bankruptcy in the Tampa Bay area, including Chapter 7 Bankruptcy, Chapter 13 Bankruptcy and Chapter 11 Bankruptcy. Weller Legal Group is the longest established and currently operating Bankruptcy Law Firm in the Tampa Bay area. Since 1993, the Bankruptcy Attorneys at Weller Legal Group have represented over 40,000 Debtors in Bankruptcy Proceedings and have assisted and represented many thousands more through our Non Bankruptcy Programs, to help those confronting some issues of Debt. Please Contact our Office through our Website at www. jayweller. com or Call directly our Offices at 1-800-407-3328 (DEBT) or 727-539-7701. You will speak to an actual Bankruptcy Attorney or Counselor, who is well experienced and trained in all matters of Bankruptcy Law, and our Non Bankruptcy Programs. --- - Published: 2015-12-21 - Modified: 2024-05-31 - URL: https://www.jayweller.com/budgeting-for-christmas-and-holiday-season/ Budgeting is important, not only during the Holiday Season but during the entire year because unless you are properly recording your finances, you may not be distributing such finances to their best or most efficient uses. The first step in Budgeting is to write down your Gross Income, whether it is from Employment, or other forms of Income such as Social Security, Pension, or other Benefits. If you receive Income primarily from Employment, then first look at what deductions are made from your paycheck before you receive the net amount after such deductions, which is commonly described as take-home pay. Many Clients over the years when asked what they make, will often say they take-home x amount of dollars. They do not think about what the Gross Amount of dollars they earn from their labors, but rather the Net Amount of dollars they actually “take home”. Look at your paycheck and the deductions made from your paycheck. Are you deducting too much money for taxes? Many Clients will have a large amount of federal taxes deducted from their paycheck, with the thought that they will receive a larger refund at the end of the year. Often, this is how many Clients budget their monies for the Holidays and other events that require larger expenditures of finances. However, when you under represent deductions that you may be entitled, and excise a large amount of deductions through federal taxes from your paycheck, you are essentially giving an interest free loan to the federal government throughout the fiscal or tax year. You would be better served by receiving a larger paycheck throughout the fiscal year and no tax return at the end of the year. Such monies could be better utilized during the fiscal year to your own benefit. Even at the low interest rates that banks pay currently, you will have the benefit of making a small amount of interest if you invest that money into a bank account versus receiving no interest by the federal government giving you back your money at the end of the year. There may be other deductions from your paycheck that you don’t even know about. Some employees will have funds taken from their paycheck for such things as Life Insurance, Disability Insurance or other deductions. Such deductions might only be $10, $20 or $30 dollars a week but over the course of a year, such deductions amount to $520, $1,040 and $1560. Doesn’t sound like a little bit of money know, does it? Question whether any of these or other deductions from your Gross Wages are beneficial, and whether such monies could be used more productively towards other things. Next week we will discuss various other tips for budgeting during the Christmas and Holiday, and by extension, the remainder of the year. Jay Weller is a Bankruptcy Attorney in Clearwater, Florida. Weller Legal Group has Offices in Clearwater, Port Richey and Lakeland, Florida. The Bankruptcy Attorneys and Lawyers at Weller Legal Group are knowledgeable and... --- - Published: 2015-12-14 - Modified: 2024-12-19 - URL: https://www.jayweller.com/sam-ash-music-store-formerly-the-kapok-tree-restaurant/ The Sam Ash Music Store in Clearwater was formerly the Kapok Tree Restaurant. Technically, the Sam Ash Store is probably located in Safety Harbor, rather than Clearwater. The Kapok Tree Restaurant was created in 1957 and continued its operations until 1991. Its founders, Richard B Baumgardner and Jim Jones created a monstrous complex with 12 dining rooms, each with its own theme, and seating for hundreds of patrons. Its architecture has strong Italian and Greek influences with fountains that distribute over 60,000 gallons of water per hour. In 1976, the year Mr. Baumgardner died, the Kapok Tree Restaurant was named one of the top one hundred Restaurants in the United States. Litigation between family members and ownership changes eventually led to the closing of the Restaurant in 1991. Today, the Sam Ash Music Store occupies most of what was formerly the Restaurant. As you can see from the photographs, the premises are enormous. I have been in many music stores over the last twenty years and the Sam Ash Store in Clearwater is the largest store I have ever seen. In addition to a large selection of guitars, percussion and other musical instruments, Sam Ash also boasts its own recording studio, music lessons, and its own school of music. I understand the premises still hosts weddings and other events, which seems appropriate when you examine the photographs. We hope you enjoyed our Blog on the Kapok Tree Restaurant and the Sam Ash Music Store in Clearwater, Florida. The Bankruptcy Attorneys and Lawyers and Paralegals at Weller Legal Group are dedicated to the betterment of our Clearwater Community, and the representation of our Clients in Bankruptcy and Debt Related Matters. If you need legal representation in filing Bankruptcy, or have a friend or family members seeking assistance, please do not hesitate to contact our Office directly at 727-539-7701 or Toll Free at 1-800-407-3328 (DEBT) to speak directly with an actual Bankruptcy Attorney or Counselor. --- - Published: 2015-12-07 - Modified: 2024-05-31 - URL: https://www.jayweller.com/clearwater-aquarium-in-clearwater-beach-florida/ The Clearwater Aquarium was established in 1972. The structure housing the Clearwater Aquarium was originally a water treatment plant, and its huge holding tanks created the perfect arrangement to house an Aquarium. The Aquarium since its founding appeared dedicated to helping marine life that were injured, making their survival in the wild impossible. Besides its more famous inhabitants, the Clearwater Aquarium also houses sharks, sea turtles and river otters. In 1984, the Aquarium rescued a bottle nosed dolphin named Sunset Sam. As part of the rehabilitation of the dolphin, Sunset Sam was taught to paint. Its most famous resident, however, is Winter the Dolphin. Winter was rescued by fisherman who discovered the Dolphin entangled in a lobster trap. A prosthetic tail was attached to Winter’s tail, which was severed by the trap, allowing Winter to swim. In 2011, a movie was made about the experiences of Winter the Dolphin, called Dolphin’s Tale, and a sequel was completed a few years after. As shown in the photograph, the captains boat featured in the movie is on display on the grounds of the Clearwater Aquarium. The movie and resulting additional tourism generated by the movie likely enabled the Aquarium to finance the expansion of its facilities, as documented in the photograph of additional research space and additional holding tanks. Thank you for viewing our weekly Blog on our Series on Clearwater and Florida Attractions. The Bankruptcy Attorneys and Paralegals at Weller Legal Group live and work in the Clearwater Community and are dedicated to helping those in Debt. Weller Legal Group offers representation in all matters relating to Bankruptcy including Chapter 13 Bankruptcy, Chapter 11 Bankruptcy and Chapter 7 Bankruptcy. We also offer Non Bankruptcy Alternatives to those facing issues relating to Debt. If you are in Debt, please Contact our Office directly by calling 727-539-7701 or Toll Free 1-800-407-3328 (DEBT) or through our website at www. jayweller. com. --- - Published: 2015-11-23 - Modified: 2024-05-31 - URL: https://www.jayweller.com/find-a-reputable-bankruptcy-attorney/ SEEKING A GOOD BANKRUPTCY LAWYER FOR CLEARWATER, PORT RICHEY AND LAKELAND AREAS A Bankruptcy Attorney practicing Chapter 7, Chapter 13, and Chapter 11 Bankruptcy and serving Clearwater, Port Richey and Lakeland, Florida, Jay Weller and the Bankruptcy Lawyers at Weller Legal Group have been representing the Tampa Bay area in Bankruptcy and Debt Related Matters, since 1993. If you are looking for a reputable and highly rated Bankruptcy Attorney or Bankruptcy Lawyer and you live in the Clearwater, Port Richey and Lakeland communities or surrounding communities, where do you start? You can look at Google Reviews or other reviewing sites, but who knows who are posting these reviews? The poster could be a legitimate poster or competition of the Bankruptcy Attorney or Bankruptcy Lawyer, seeking to damage the credibility of the Attorney or Law Firm that is the subject of the review. You can call the Florida Bar Association or your local Bar Association, such as the Clearwater Bar Association, the St Petersburg Bar Association, or the Pasco Bar Association, and inquire as to a Bankruptcy Attorney or Bankruptcy Lawyer, in your community. However, the Bar Associations do not have any standards necessary for their referrals, other than the Bankruptcy Attorney or Bankruptcy Lawyer must be in good standing with the Florida Bar, and maybe some insurance requirements. As long as the Bankruptcy Attorney can meet these requirements, which are a pretty low bar, and agree to a significant fee, such Bankruptcy Attorney or Bankruptcy Lawyer can receive referrals from such Bar Associations. Some Bankruptcy Attorneys will advertise that they are Board Certified. What does that mean? If you are a Board Certified Bankruptcy Attorney in the State of Florida, that means that two Attorneys recommended you to be Board Certified, and you prosecuted two Adversarial Proceedings in the Bankruptcy Court. Again, not a high hurdle. My best advice on how to choose a good Bankruptcy Attorney or Lawyer, to represent you, is the same for any professional. Go to the internet and review the numbers of Bankruptcy Attorneys with websites dedicated to their practice. Ask friends or family, if they personally know a reputable Bankruptcy Attorney in your region. Ask, how long has the Bankruptcy Attorney been practicing? Does the Bankruptcy Lawyer practice only Bankruptcy Law, or does he practice other forms of Law? How much of his or her practice dedicated to the practice of Bankruptcy Law? In how many Bankruptcies did the Attorney represent Debtors? When you call the office of the Attorney, do you have the opportunity to speak with a Bankruptcy Attorney or a knowledgeable Bankruptcy Paralegal? How do you judge the efficiency and professionalism of the Office of the Bankruptcy Attorney? Are the fees and costs reasonable, or in line with what other Bankruptcy Attorneys appear to charge? Image credit: zimmytws --- - Published: 2015-11-16 - Modified: 2024-05-31 - URL: https://www.jayweller.com/the-diminishing-availability-of-class-action-lawsuits-as-a-consumer-remedy/ Jay Weller is a Bankruptcy Attorney serving primarily the Tampa area, including Clearwater, Port Richey and Lakeland, Florida. The Bankruptcy Lawyers at Weller Legal Group and Mr. Weller are available to help anyone in the Tampa Bay area confronted with issues relating to Debt, or matters related to Bankruptcy Law and the filing and prosecution of a Bankruptcy. A recent article in the New York Times, dated November 1, 2015, outlines a growing trend in the United States to limit the availability of Class Action Lawsuits or Litigation as an avenue for Consumers to seek redress of Corporate infractions that violate such Consumers Consumer Rights. Commensurate with the decline of Class Actions is an attendant rise in Arbitration, as a method of resolving such disputes. Increasingly, a growing number of large Corporations are including Arbitration Clauses into employment contracts, credit card agreements, cell phone contracts, and cable and internet service. AT&T, Verizon, Macys, Kmart, Time Warner, and Sears are among the large Corporations employing Arbitration Clauses. According to William G Young, a Federal Judge from Boston, appointed by Ronald Reagan, this trend, “... is among the most profound shifts in our legal history”. This trend has created a dampening effect on Consumers exercising their rights or remedies against Corporations. For example, Sprint, a corporation with more than 57 million customers, endured only six arbitrations between 2010 and 2014. Time Warner, with 15 million customers, only faced seven Arbitrations. In the New York Times Investigation, based upon court records, and interviews with hundreds of Attorneys, Judges, Arbitrators, Plaintiffs, and Corporations, in 35 States, the Times found that of 1,179 Class Actions in which the Defendant or Corporation sought to have such cases thrust into Arbitration, the Defendant prevailed in four out of every five cases. In 2014, Judges upheld Class Action bans in 134 of 162 cases. In 2014, Attorneys Generals in 16 States issued a letter to the Consumer Financial Protection Bureau stating that unlawful business practices would multiply with the growing reliance on Arbitration to settle such disputes with Consumers. With the Supreme Court opinion in American Express v Italian Colors Restaurant, in 2003, and its more recent decision ten years after, the ability of Corporations to enforce such Arbitration Clauses, to the detriment of Class Actions, has been further strengthened. Weller Legal Group offers representation in Bankruptcy Matters, representing only Debtors in Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Bankruptcy. Since 1993, Weller Legal Group has represented over forty thousand Clients in Bankruptcy Proceedings and Filings, and have represented many thousands more through our non Bankruptcy Alternatives. If you live in the vicinities of Clearwater, Port Richey and Lakeland, please contact our Office today, to speak with an actual Bankruptcy Attorney or Licensed Bankruptcy Lawyer. We may be reached directly through www. jayweller. com or by calling Toll Free at 1-800-407-3328 or 727-539-7701. Image credit: hafakot --- - Published: 2015-11-09 - Modified: 2024-05-31 - URL: https://www.jayweller.com/debt-is-slavery/ In 2005, Congress passed the Bankruptcy And Consumer Protection Act, a Orwellian named reformation of the Bankruptcy Laws. The passage of the BACPA reflected a narrative that Debtors in their use of the existing Bankruptcy Laws were abusing the system of Credit and Debt. The newspapers and mass media sources were replete with narratives of how a rich scoundrel bought a house in Florida, for example, in order to file Bankruptcy, or otherwise escape his Creditors. Remember, OJ Simpson? The 2005 Bankruptcy Act took a more punitive position against Debtors in Bankruptcy. However, Congress’ measure is only a part of a larger campaign to place the inhabitants of what is called the United States of America, into further Debt, and yes, further enslavement. For much of its history, England practiced a concept called Indentured Servitude. A Debtor unable to pay his Creditor, essentially would commit himself to the servitude of the Creditor, in order to repay his Debt. Australia was initially used by England as penal colony for, among other, Debtors unable to repay their Debts. Indentured Servitude was also practiced in the American Colonies, and such Servants were among the original Slaves, brought from England. For various reasons, popular opinion changed, and Indenture Servitude and Slavery was a least facially abolished in what is now the United States of America. A tyrannical government, committed to the retention of power and control, will seek to weaken its Subjects in various manners. A weakened population is less able to fight against the tyranny of its government, or its masters. How is this achieved? Change the Bankruptcy Laws so that Individual Persons are less able to free themselves from the chains of Debt. The committing of a significant portion of their resources towards such Debt, diminishes the ability of these Individuals to use such resources to matters that would benefit each person, Individually. Devalue the dollar, invite large numbers of Legal and Illegal Immigrants into the same population, weakening the bargaining power and earning ability of the “low-skilled” members of the population, and create large amounts of public Debt. Follow this with increasingly onerous taxation, and you create a population weakened in its ability to counter such tyranny. Why do you think some politicians are so committed to “gun control” when homicides by firearms are significantly reduced from prior decades. Approximately as many persons in the United States die annually from gun homicides as do persons who die because the Pharmacist cannot read the hand written prescription, written by Doctors. A simple requirement that doctors type their prescription on a typewriter or computer, would save as many lives as those who die from gun homicides. Question everything. Get your information about local, national and world events from varied sources. Your hold the key to your own chains. Image credit: Lane Erickson --- - Published: 2015-11-03 - Modified: 2024-12-18 - URL: https://www.jayweller.com/bankruptcy-attorney-william-brumby-an-introduction/ Will Brumby is a Bankruptcy Attorney at Weller Legal Group and is the Head Litigator at our Law Office. Will Brumby has been a Bankruptcy Attorney and Foreclosure Defense Attorney, since his graduation from Law School. He is very personable and happily will discuss all aspects of Bankruptcy Law, including Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. He is also very knowledgeable in matters other than Bankruptcy that relate to Debt, including Foreclosure Defense, Credit Repair, Credit Counseling, Settlements, including Settlements with the Internal Revenue Service, Mortgage Mediation and Mortgage Modifications. Mr. Brumby is possibly the biggest University of Georgia Bulldogs fan on the entire planet. He graduated from the University of Georgia, and moved to Florida, in order to practice Bankruptcy Law. In our Clearwater Office, the Paralegals and Bankruptcy Attorneys often refer to Mr. Brumby as the Herschell Walker of Bankruptcy Attorneys. Mr. Brumby enjoys living in Florida, and helping the many Clients that come to our Offices seeking assistance, whether it is in filing Bankruptcy, or the many other Non Bankruptcy Alternatives we offer. Mr. Brumby has prosecuted a number of important cases relating to Bankruptcy Law, and has filed and participated many hundreds, if not thousands, of Bankruptcy Cases. If you are interested in speaking with Mr. Brumby regarding whether to file Bankruptcy, or otherwise seeking a Solution to a problem confronting you regarding Debt, please Contact our Office Today at either 727-539-7701 or Toll Free at 1800-407-3328 (DEBT). Mr Brumby will happily speak and meet with you regarding whatever issue is troubling you. Mr Brumby and our other Bankruptcy Attorneys and Lawyers at Weller Legal Group are available for Consultations at either our Clearwater, Port Richey or Lakeland Offices. Our Bankruptcy Attorneys have Clients from many Florida Counties, including Pinellas, Pasco, Polk, Hernando, Citrus, Hillsborough, Manatee and Bradenton Counties. If you are in Debt, We are here to Help You. --- - Published: 2015-10-26 - Modified: 2024-05-31 - URL: https://www.jayweller.com/your-florida-bankruptcy-attorney/ The Bankruptcy Attorneys and Paralegals at Weller Legal Group serve the communities of Clearwater, Port Richey and Lakeland, and the sistering Cities to these population hubs. Since 1993, Jay Weller and the Bankruptcy Attorneys at Weller Legal Group have been practicing primarily Bankruptcy Law. Weller Legal Group does offer Legal Services in areas other than Bankruptcy Law, but related to helping persons in Debt. These areas include Foreclosure Defense, Loan Modifications, Credit Repair, Settlements, and Credit Counseling. However, the majority of the practice of the Attorneys at Weller Legal Group centers around the practice of Bankruptcy Law. Since, 1993 Jay Weller has practiced primarily Bankruptcy Law, and has filed over 40,000 Bankruptcies. The majority of our Clients come from referrals from family members and friends of our existing Clients. Our main Law Office is in Clearwater, Florida. We are located in Clearwater, Fl at 25400 US 19 North in Clearwater, on the West side of US 19, across from Dimmit Chevrolet and about ¼ mile South of the Countryside Mall, now called the Westfield Plaza. If you wish to make an appointment at our Clearwater office to meet with a Bankruptcy Attorney, or Counselor, please Call us at 727-539-7701. An actual Bankruptcy Attorney will guide you through all aspects of the process of Bankruptcy. You may not need to file Bankruptcy, and as mentioned above, we have numerous programs to help our Clients settle issues revolving around Debt, that does not necessitate filing Bankruptcy. However, if you do file Bankruptcy, you more likely will file either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. A Chapter 7 Bankruptcy is also called a Straight Bankruptcy or a Straight Liquidation. Despite, its name, most of our Clients who file Chapter 7 Bankruptcy are able to retain most or all of their Assets, including their Homestead, Automobile, and Personal Property. A Chapter 7 Bankruptcy will Discharge or eliminate, most Unsecured Debts. You may generally keep you Home and Car, provided you are current on the related loan obligations. If your Automobile is owned without a lien, then the Value of the Automobile may determine whether you can keep the Auto in the Chapter 7 Bankruptcy. When you speak with our Bankruptcy Attorney, he or she will discuss these issues with you, and how they relate to your particular case. A Chapter 13 Bankruptcy is also called a Debt Reorganization or Debt Consolidation. In a Chapter 13 Bankruptcy, the Bankruptcy Attorney or Debtor is seeking to Reorganize the Debts of the Debtor. Chapter 13 Bankruptcy will stop a Foreclosure on your Home or Homestead. Through the Chapter 13 Bankruptcy Mortgage Mediation Program, the Bankruptcy Attorney can seek to Modify the Terms of the Mortgage, often arrange for the waiving of any Arrearages owed on the Mortgage, and also seek to reduce Interest Rates, Monthly Payments, and other benefits. A Chapter 13 Bankruptcy is also beneficial to a Debtor facing Repossession of his Automobile, who owes a large amount of Debt to the Internal... --- - Published: 2015-10-19 - Modified: 2024-05-31 - URL: https://www.jayweller.com/bankruptcy-and-student-loans/ Before Bill Clinton became President, Student Loans were Dischargeable in Bankruptcy provided that the Student Loan was over seven years old, absent any deferrals. Congress, with Clinton’s cooperation, removed the seven year rule. In 2005, Congress and George W Bush, enacted new Bankruptcy Legislation that provided that almost no Student Loans can be Discharged in Bankruptcy. One of the few ways that a bankruptcy attorney can provide for a Student Loan to be Discharged in Bankruptcy is if he or she can successfully convince a Bankruptcy Judge that the Student Loan creates an Undue Hardship for the Debtor. In determining whether a Student Loan can be Discharged in Bankruptcy, the Bankruptcy Judge will generally define Undue Hardship by analyzing a number of factors, including what is the likelihood that the Debtor can work in his chosen field of study, the amount due under the Student Loan, the age and health of the Debtor, the financial condition of the Debtor, and whether any of these factors can change in the future. Congress in its Legislation never defined what constitutes Undue Hardship. The Bankruptcy Courts usually define Undue Hardship in strict terms, and are hesitant to find that a Student Loan can be Discharged in Bankruptcy. However, many Debtors who have sought to secure a Discharge of Student Loans in Bankruptcy have been successful. One reason for this success is that in order to secure a Discharge of a Student Loan in Bankruptcy, the Debtor or the Bankruptcy Attorney must bring what is referred to as an Adversary Proceeding. To prosecute an Adversary Proceeding is somewhat expensive and time consuming. Adversary Proceedings involve additional Bankruptcy Court Fees, costs of service of process, and if you hire a Bankruptcy Attorney to bring the Adversary Proceeding, you must pay additional Attorney Fees and Costs related to his employment. I surmise that most Adversary Proceedings related to Student Loans are not brought in the Bankruptcy Courts without the Debtor or Bankruptcy Attorney feeling that there is a good basis for the argument of Undue Hardship. Student Loans can be Discharged in Bankruptcy, sometimes, for reasons other than proving Undue Hardship. For example, if the Bankruptcy Attorney can prove that the Institution attended by the Debtor was not accredited, or lost its accreditation, or no longer exists, the Debtor might receive a Discharge of the Student Loan. Also, the Bankruptcy Attorney can argue in some cases, that the Debtor did not receive an educational benefit from the Student Loan. I have been practicing Bankruptcy Law in the Clearwater and Tampa Bay area since 1993, and have represented tens of thousands of my Clients in Bankruptcy. Of the many Clients that I have had that have Student Loan Debt, I estimate that less than 5% are eligible to Discharge their Student Loan in Bankruptcy. The best candidate I recall who was eligible to Discharge a Student Loan in Bankruptcy was a man, approximately 75 years old who came to my Clearwater Office, when I was only practicing... --- - Published: 2015-10-12 - Modified: 2024-05-31 - URL: https://www.jayweller.com/can-the-united-states-of-america-file-bankruptcy/ The total Debt acquired by the Federal Government in Washington, DC, is approaching Twenty Trillion Dollars. The question becomes, with the Federal Government in Debt to a degree that could never be repaid, can the United States of America file Bankruptcy? The Bankruptcy Code provides for many forms of Entities, the opportunity to file Bankruptcy. A Chapter 7 Bankruptcy may be filed by a Corporation or an Individual. A Chapter 13 Bankruptcy can be filed by an Individual but not a Corporation. A Chapter 11 Bankruptcy is a Reorganization that can be filed by an Individual or a Corporation. There is a Bankruptcy called Chapter 9, which is a Bankruptcy that permits a Municipality to file Bankruptcy through a Reorganization of its Debts. Detroit is the largest City in the United States that famously filed Chapter 9 Bankruptcy. However, the Bankruptcy Code does not provide a Chapter that would enable the Federal Government from filing Bankruptcy. Fortunately, the United States of America has its own printing press. The Federal Government can print an unlimited amount of money. Theoretically, the Federal Government could pay off the 18-20 Trillion Dollars in Debt it has acquired tomorrow. However, if the Government was to do this, you also may need a wheelbarrow of money to buy a stick of gum. A significant portion of the National Debt is also owed to the very Taxpayers who funded Social Security. When you have your taxes taken from your paycheck to pay Social Security Taxes, you may have believed that those funds were placed in a Trust Fund so that such money would be available when you retire. Wrong. For the past thirty to forty years, Congress has been raiding the Social Security Trust Account and has all but depleted such Account. Jay Weller is a Bankruptcy Attorney in Clearwater, Florida. Weller Legal Group of which Mr Weller is President and Founder, has been practicing Bankruptcy Law and helping persons in Debt, since 1993. Weller Legal Group has Offices in Clearwater, Port Richey, and Lakeland, Florida. Image credit: Mohamad Razi Bin Husin --- - Published: 2015-10-05 - Modified: 2024-05-31 - URL: https://www.jayweller.com/the-bankruptcy-filings-of-donald-trump-part-ii/ SOME THINGS YOU PROBABLY DON’T KNOW ABOUT BANKRUPTCY AND DONALD TRUMP PART TWO OF TWO In the first part of this series of Articles on Bankruptcy and Donald Trump, the author explained some of the finer details of the Bankruptcy filings of Donald Trump, or specifically, his Corporations that filed Bankruptcy. Donald Trump, as he has often stated, never filed Bankruptcy personally. A number of Corporations formed by Mr. Trump have filed Bankruptcy, and Mr. Trump, in attempting a successful reorganization of these Corporations through Bankruptcy, in each case, has surrendered significant ownership in these Corporations, and has made other concessions to his Corporation’s Creditors. Most of the Bankruptcy filings by Trump Corporations revolved around Casino and Hotel holdings in Atlantic City, a location where many Casinos and Hotels have experienced either Bankruptcy or outright dissolution, in the past decades. Atlantic City, and most of New Jersey, are difficult locations to either start of sustain businesses, and the Casinos and Hotels are not immune to the difficulties of the Atlantic City economy. Many of Mr. Trump’s detractors will focus on the Bankruptcy Filings of Trump Corporations as indicative of Trump’s failings as a businessman. However, such suggestions discount the very important purposes of Bankruptcy Law, how Bankruptcy has helped develop the United States economy and experience as unique in the global environment, and Mr. Trump’s very significant concessions given through the Bankruptcy filings of his Corporations, in order to obtain successful reorganizations of some of his Corporations. Before the establishment of Bankruptcy Courts in the United States, Debtors unable to pay their Creditors, were subject to Debtor’s Prisons and Involuntary Servitude. Many of the original Slaves in the American Colonies were persons from Ireland and England who were unable to pay their Creditors, and therefore were subjected to a concept called Involuntary Servitude. Such treatment of Debtors not only is arguably immoral, but also had deleterious effects on elements of risk taking and entrepreneurialism, and on the broader economy. One is less likely to take the risks inherent in establishing a new product, invention, or business if the price of failure is either imprisonment or slavery. The Bankruptcy Laws were an instrumental part of the development of the American Economy and Dynamism because such Laws freed the Entrepreneur from the harsh consequences of failure. Many of the great inventions that were formulated in the United States came from Entrepreneurs who failed numerous times, even filing Bankruptcy, before filing success. Without the Bankruptcy Laws, there would not be Donald Trump, as we know him, a man who has developed some of the most impressive properties, both in the United States and abroad. Mr. Trump, according to his own words, used the Bankruptcy Laws to the advantage of his Corporations, built a stronger business empire, and hired many thousands of persons. Without the benefit of the Bankruptcy Laws, none of these events would have likely occurred. Risk taking is an essential element of economic, technological and societal development. The Bankruptcy Laws are... --- - Published: 2015-09-23 - Modified: 2024-05-31 - URL: https://www.jayweller.com/the-bankruptcy-filings-of-donald-trump/ SOME THINGS YOU PROBABLY DON’T KNOW ABOUT BANKRUPTCY AND DONALD TRUMP PART ONE OF TWO PARTS There has been much recent mention in the mainstream news and among other political opponents of Donald Trump, namely Carly Fiorina, of the numerous Bankruptcies that Donald Trump was involved. Although Donald Trump never personally filed Bankruptcy, a number of Corporations in which Donald Trump had majority control and ownership, filed Bankruptcy, specifically Chapter 11 Bankruptcy. Trump Corporations have filed Bankruptcy four times. Each Bankruptcy involved Trump Resorts, Hotels and Casinos located in the Atlantic City area, in New Jersey. Mr. Trump has, on numerous occasions, defended the Bankruptcies, stating that his Enterprises were victim to the general economic malaise that has befallen New Jersey, and Atlantic City, in particular. Trump’s Corporations in Atlantic City are not the only Hotels and Casinos in Atlantic City that experienced severe financial hardship. Trump further defends his position by touting his good timing in removing himself and his business efforts away from Atlantic City, before Atlantic City descended much further into economic disaster. In addition, Mr. Trump will often mention that although a number of his Atlantic City projects did file Bankruptcy, most have experienced successful restructuring, which is unusual for Corporations that file Chapter 11 Bankruptcy, and he has hundreds of other business ventures that have been successful. One aspect of Mr. Trump’s Corporate Bankruptcies that he has not mentioned in his defense, is that Mr. Trump has suffered personally from the Bankruptcy Reorganizations that his Corporations have entered. Often, when a large Corporation files Bankruptcy, in particular a Chapter 11 Bankruptcy, the Officers of the Corporation do not endure personal financial hardship because of the filing of the Bankruptcy. The Corporation itself is often subject t o financial restraint because of the Bankruptcy, but the individual Officers, such as the President, Vice President, etc. , often are able to continue in their functions, often without a decrease in income or benefits. Each of the Bankruptcy filings of Trump Corporations have resulted in the diminution of Mr. Trump’s wealth, at least as it applies to the Corporations that filed Bankruptcy. The 1991 Trump Taj Mahal Bankruptcy was the Bankruptcy in which arguably, Trump suffered the most personally. Although the Taj Mahal Bankruptcy was a Corporate, Chapter 11 Bankruptcy, Trump had personally guaranteed a number of the Debts held by the Corporation. In the Bankruptcy, Trump sold his 282 foot yacht and his Trump Shuttle Service (Airline), and relinquished one-half ownership in the Taj Mahal, as part of the restructuring of the Corporation. Image credit: MichaelVadon --- - Published: 2015-07-17 - Modified: 2024-05-31 - URL: https://www.jayweller.com/introduction-to-mr-jay-weller-bankruptcy-attorney/ My name is Jay Weller and I an Attorney who has represented many thousands of Clients in Bankruptcy Proceedings, since 1993. Myself and my Law Office has filed over 40,000 Bankruptcies and has represented many thousands more Clients through our numerous Non Bankruptcy Programs or Bankruptcy Alternatives. Please examine our website at www. jayweller. com. The website contains information on virtually any subject of Bankruptcy Law and Procedure, with over 100 Videos discussing common questions and issues in Bankruptcy, along with a few hundred pages of information and explanation of various matters of Bankruptcy Law and Procedure. Weller Legal Group has Bankruptcy Attorneys, Lawyer, Paralegals, and other support Staff to assist you if you enlist the Services of our Law Office. We also have Law Offices conveniently located in Pinellas, Pasco and Polk Counties, in the State of Florida. Please Call Jay Weller today at 727-539-7701 or Toll Free at 1-800-407-3328 to speak with Mr. Weller, who will listen to your particular issues with Debt, and likely, be able to suggest one remedy or another, for solution. Thank you for your consideration. --- - Published: 2015-07-17 - Modified: 2024-05-31 - URL: https://www.jayweller.com/introduction-to-weller-legal-group/ Jay Weller has been a practicing Clearwater Bankruptcy Attorney since 1993. Weller Legal Group has represented over 40,000 Clients in Bankruptcy Proceedings and other Debt Related Matters, since its founding in 1993. The Bankruptcy Attorneys, Paralegals and Staff, at our Clearwater Law Office, are dedicated almost exclusively to representing our Clients in the many facets of Bankruptcy Proceedings. The Bankruptcy Attorneys at Weller Legal Group are consistently the highest rated in the Tampa Bay area. If you are need of advice or representation in Bankruptcy, or have other issues related to Debt, please contact our Clearwater Bankruptcy Attorneys at 727-539-7701. The motto of our Law Office is to provide the best representation possible, and to offer our Clients dignity and respect throughout the process of filing Bankruptcy. --- - Published: 2015-07-17 - Modified: 2024-05-31 - URL: https://www.jayweller.com/message-from-a-bankruptcy-attorney-in-clearwater-florida/ THE SUPREME COURT DECISION IN BANK OF AMERICA V CAULKETT FURTHER ILLUSTRATES ITS LAWLESSNESS PART ONE Jay Weller is a Bankruptcy Attorney with Offices in Clearwater, Port Richey, and Lakeland, Florida. In Caulkett, the Debtor filed Chapter 7 Bankruptcy. The Debtor in Bankruptcy owned a Home with a First and Second Mortgage. The Fair Market Value of the Home was less than the Balance of the First Mortgage. The Second Mortgage, in terms of Bankruptcy, is Wholly Unsecured. Section 506(d) of the Bankruptcy Code provides, “to the extent that a lien secures a claim against the Debtor that is not an allowed secured claim, such lien is void”. The Debtor in the Chapter 7 Bankruptcy sought to avoid and have declared void, the lien by the Second Mortgage on his Home. The Bankruptcy Code granted the Motion to Avoid Lien and the District Court and the Eleventh Circuit Court Affirmed, or agreed with the Lower Court Decisions. The Supreme Court held that a Debtor in a Chapter 7 Bankruptcy may not void a junior mortgage lien under Section 506(d) of the Bankruptcy Code, when the Debt owed on a senior mortgage lien exceeds the current value of the collateral if the creditors claim is both secured by a lien and allowed under Section 502 of the Bankruptcy Code. The Court’s reasoning appears sound at the beginning of the Decision,” ... a straightforward reasoning of the statute (Bankruptcy Code), seems to favors the Debtors”. However, the Court follows that their Decision in a prior case, Dewsnup, does not permit the Court to make a decision based upon the plain reading of the statute. The Court continues that Section 506(d) of the Bankruptcy Code provides, that to the extent that a lien secures a claim against the debtor that is not an ALLOWED SECURED CLAIM, such lien is void. Therefore, Section 506(d) of the Bankruptcy Code permits the debtor to strip of a junior or Second Mortgage only if the Claim is NOT AN ALLOWED SECURED CLAIM. Under Section 502 of the Bankruptcy Code, a Claim filed by a Creditor in a Bankruptcy, is deemed ALLOWED if: 1. No INTERESTED PARTY Objects OR 2. When there is an Objection, the Bankruptcy Court determines the Claim should be ALLOWED. The Court continues, that the Bankruptcy Code, “Suggests that the Bank’s Claim are not Secured. Section 506(a)(1) of the Bankruptcy Code provides that an allowed claim of a creditor secured by a lien on property... is a secured claim to the extent of the value of such creditor’s interest in such property, and an Unsecured Claim to the extent that the value of such creditor’s interest... is less than the amount of such allowed claim”. “Give that these identical words are later used in the same section of the same Act-Bankruptcy Code Section 505(d)-one would think this presents a classic case for application of the normal rule of statutory construction that identical words used in different parts of the same act are intended to... --- - Published: 2015-07-17 - Modified: 2024-05-31 - URL: https://www.jayweller.com/ramifications-of-the-supreme-courts-lawless-decision-in-bank-of-america-v-caulkett/ MESSAGE FROM A BANKRUPTCY ATTORNEY IN CLEARWATER, FLORIDA PART TWO Jay Weller is a Bankruptcy Attorney in Clearwater, Florida. Jay Weller and Weller Legal Group have Law Offices in Clearwater, Port Richey, and Lakeland, Florida, and have filed over 40,000 Bankruptcies, since 1993. In order to understand this Article, please read Part One. What are the ramifications of the Supreme Court Decision in Bank of America v Caulkett? Why is its construction of the Bankruptcy Code important? Please note that the Supreme Court Decision in Caulkett only relates to the stripping of Liens in Chapter 7 Bankruptcy Cases. In the Middle District of Florida, specifically, the Bankruptcy Attorney, or the Debtor, may still remove or strip junior liens, provided the lien is completely unsecured. The Supreme Court in Caulkett, however, completely ignored what the Bankruptcy Laws clearly state as to how junior liens are to be treated in Bankruptcy, and specifically in Chapter 7 Bankruptcies. The Supreme Court also gave a large benefit to the Lenders or Banks that offer Second Mortgages, Third Mortgages, and other No Equity style loans, typically at less favorable terms to the Debtor, including higher interest rates, balloons, and other devices. Within the Federal Apparatus of Government, the Federal Courts, the Legislature, and the Executive Branch, there is a strong impetus towards centralization of Government, centralization of banking, control of money, and control of other freedoms, and true Rights, formed by the US Constitution. When a President governs by Executive Order, in a manner in violation of the US Constitution, one may favor his policies. However, the next President, in exercising Executive Power, may then Unconstitutionally govern in a manner you may despise. In the realm of the US Supreme Court, the Court, without any Constitutional basis, and contrary to the will of the peoples of many States, created a Constitutional Right for Homosexual Couples to marry. Whether you agree with the outcome, meaning the ability of Homosexual Couples to marry, the process of reaching that outcome violated the Laws and Spirit of the US Constitution, which includes, the powers given to the individual States, to make decisions as to the Health and Welfare of its Citizens. The next President can declare, by Executive Order, that all Homosexuals be forced to imprisonment in detention camps. A Supreme Court in the future, could, again in violation of the US Constitution, declare that all churches that refuse to marry Homosexual Couples, be stripped of their tax exempt status, or even be permitted to congregate. The point is when our Public Servants act lawlessly, sometimes the pendulum can slice back harshly. The Affordable Care Act, or Obamacare by its detractors, was a clear usurpation of the powers granted Congress and the Presidency, by the US Constitution, to the States. Any individual State, could, depending on the passage of such Laws by its own State Legislation, create its own Health Care Exchange or Program. That is clearly within the framework of the US Constitution. For a President and Federal... --- - Published: 2015-07-06 - Modified: 2024-05-31 - URL: https://www.jayweller.com/is-the-florida-prepaid-college-fund-and-similar-programs-exempt-or-protected-from-creditors-and-the-bankruptcy-trustee-under-florida-law/ Florida Statute Section 222. 22 provides: Moneys paid into or out of, the assets of, and the income of any validly existing qualified tuition program authorized by s. 529 of the Internal Revenue Code of 1986, as amended, including but not limited to, the Florida Prepaid College Trust Fund advance payment contracts under s. 1009. 98 and Florida Prepaid College Trust Fund participation agreements under s. 1009. 981, are not liable to attachment, levy, garnishment, or legal process in the state in favor of any creditor of or claimant against any program participant, purchaser, owner or contributor, or program beneficiary. --- - Published: 2015-07-05 - Modified: 2024-05-31 - URL: https://www.jayweller.com/if-a-court-finds-that-a-debtor-committed-a-fraudulent-conversion-of-assets-then-what-can-a-creditor-do/ Florida Statute Section 222. 30 provides that in an action for relief against a fraudulent asset conversion, a creditor may obtain: Avoidance of the fraudulent asset conversion to the extent necessary to satisfy the creditor’s claim. An attachment or other provisional remedy against the asset converted in accordance with applicable law. Subject to the applicable principles of equity and in accordance with applicable rules of civil procedure: An injunction against further conversion by the debtor of the asset or of other property. Any other relief the circumstances may require. Florida Statute Sections (4) and (5) further provide that (4) If a creditor has obtained a judgment on a claim against the debtor, the creditor, if the court so orders, may levy execution on the asset converted or its proceeds, and (5) A cause of action with respect to a fraudulent asset conversion is extinguished unless an action is brought within four years after the fraudulent asset conversion was made. --- - Published: 2015-07-04 - Modified: 2015-07-04 - URL: https://www.jayweller.com/what-is-a-fraudulent-asset-conversion-in-the-state-of-florida/ Florida Statute Section 222. 30 states: As used in this section, conversion means every mode, direct or indirect, absolute or conditional, of changing or disposing of an asset, such that the products or proceeds of the asset become immune or exempt by law from claims of creditors of the debtor and the products or proceeds of the asset remain property of the debtor. The definitions of chapter 726 apply to this section unless the application of a definition would be unreasonable. Any conversion by a debtor of an asset that results in the proceeds of the asset becoming exempt by law from the claims of a creditor of the debtor is a fraudulent asset conversion as to the creditor, whether the creditor’s claim to the asset arose before or after the conversion of the asset, if the debtor made the conversion with the intent to hinder, delay, or defraud the creditor. --- - Published: 2015-07-03 - Modified: 2015-07-03 - URL: https://www.jayweller.com/in-the-state-of-florida-there-is-no-exemption-for-fraudulent-transfers/ While the State of Florida has Laws that create Exemptions that protect a Debtor against garnishment, seizure or attachment of certain property owned by the Debtor, Section 222. 29 of the Florida Statutes provides that there is no Exemption for Fraudulent Transfers. Florida Statute Section 222. 29 provides: An exemption from attachment, garnishment, or legal process provided by this chapter is not effective if it results from a fraudulent transfer or conveyance as provided in chapter 726. --- - Published: 2015-07-02 - Modified: 2015-07-02 - URL: https://www.jayweller.com/are-pensions-exempt-or-protected-from-creditors-and-the-bankruptcy-trustee-in-bankruptcy-in-the-state-of-florida/ Florida Statute Section 222. 21 states: Money received by any debtor as pensioner of the United States within three months next preceding the issuing or an execution, attachment, or garnishment process may not be applied to the payment of any debts of the pensioner when it is made to appear by the affidavit of the debtor or otherwise that the pension money is necessary for the maintenance of the debtor’s support or a family supported wholly or in part by the pension money. The filing of the affidavit by the debtor, or the making of such proof by the debtor, is prima facie evidence, and it is the duty of the court in which the proceeding is pending to release all pension moneys held by such attachment or garnishment process, immediately, upon the filing of such affidavit or the making of such proof. --- - Published: 2015-07-01 - Modified: 2015-07-01 - URL: https://www.jayweller.com/are-tax-refunds-exempt-or-protected-from-creditors-or-the-bankruptcy-trustee-in-bankruptcy/ Currently, in the Middle District of Florida, most, if not all of the Bankruptcy Judges hold that tax refunds are not protected from the Bankruptcy Trustee in Bankruptcy Proceedings. The Bankruptcy Trustees and Judges in making their argument, will likely cite a Bankruptcy Decision by Alexander Paskay where he held that Tax Refunds are not Exempt or protected from the Bankruptcy Trustee, but that the portion of a Tax Refund that represents the Earned Income Credit, should be Exempt. In my opinion, Paskay’s holding in In Re Sanderson completely ignores what the Law in the State of Florida states regarding tax refunds. Florida Statute Section 222. 25(3) states: The following property is exempt from attachment, garnishment, or other legal process: A DEBTOR’S INTEREST IN A REFUND OR A CREDIT RECEIVED OR TO BE RECEIVED, or the traceable deposits in a financial institution of a debtor’s interest in a refund or credit, pursuant to s. 32 of the Internal Revenue Code of 1986 as amended... . The Florida Statute contains two parts, and to properly interpret the construction of the Statute, as any student learns in law school, the reader needs to separate those parts or portions of the Florida Statute. The Statute, properly interpreted, states that the property that is exempt from attachment, garnishment or legal process is: A DEBTOR’S INTEREST IN A REFUND OR A CREDIT RECEIVED OR A DEBTOR’S INTEREST IN A REFUND OR A CREDIT TO BE RECEIVED OR THE TRACEABLE DEPOSITS IN A FINANCIAL INSTITUTION OR A DEBTOR’S INTEREST IN A REFUND OR CREDIT, PURSUANT TO S. 32 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED The Statute plainly states that a debtor’s interest in a refund or credit is exempt under the Laws of the State of Florida. Persons filing Bankruptcy in the State of Florida are generally required to use the State Exemptions of Florida, and Bankruptcy Judges are to respect and follow the State Exemptions of Florida in their analysis of cases in their purview. Currently, if you file Bankruptcy in the Middle District, the Bankruptcy Trustees will attempt to take your tax refund, and in a Chapter 13 Bankruptcy, they may attempt to take such refund every year that you are in the Chapter 13 Bankruptcy. But such actions are contrary to the Laws of the State of Florida. --- - Published: 2015-06-30 - Modified: 2015-06-30 - URL: https://www.jayweller.com/in-the-state-of-florida-there-are-various-exemptions/ In the State of Florida there are various Exemptions, which protect a Debtor against seizure or garnishment of his or her property from Creditors. Florida Statute Section 222. 25 enumerates some of the Personal Property Exemptions available under Florida Law. Florida Statute 222. 25 provides that the following property is exempt from attachment, seizure or garnishment under Florida Law: A debtor’s interest, not to exceed $1,000 in value, in a single motor vehicle as defined in s. 320. 01. A debtor’s interest in any professionally prescribed health aids for the debtor or a dependent of the debtor. A debtor’s interest in a refund or a credit received or to be received, or the traceable deposits in a financial institution of a debtor’s interest in a refund or credit, pursuant to s. 32 of the Internal Revenue Code of 1986, as amended. This exemption does not apply to a debt owed for child support or spousal support. A debtor’s interest in personal property, not to exceed $4,000, if the debtor does not claim or receive the benefits of a homestead exemption under s. 4, Art. X of the State Constitution. This exemption does not apply to a debt owed for child support or spousal support. --- - Published: 2015-06-29 - Modified: 2015-06-29 - URL: https://www.jayweller.com/florida-law-provides-for-the-use-of-the-florida-state-exemptions-and-not-the-federal-exemptions-in-bankruptcy-proceedings/ Florida Statute Section 222. 20 provides: In accordance with the provision of s. 522(b) of the Bankruptcy Code of 1978 (11 USC s. 522(b)), residents of this state shall not be entitled to the federal exemptions provided in s. 522(d) of the Bankruptcy Code of 1978 (11 USC s. 522(d)). Nothing herein shall affect the exemptions given to residents of this state by the State Constitution and the Florida Statutes. HOWEVER, IN SOME CASES, A DEBTOR IN A BANKRUPTCY COURT IN FLORIDA, MAY USE CERTAIN FEDERAL EXEMPTIONS: Florida Statute Section 222. 201(1) provides: Notwithstanding s 222. 20, an individual debtor under the federal Bankruptcy Reform Act of 1978 may exempt, in addition to another other exemptions allowed under state law, any property listed in subsection (d)(10) of s. 522 of that act. --- - Published: 2015-06-28 - Modified: 2015-06-28 - URL: https://www.jayweller.com/how-does-one-that-seeks-domicile-in-the-state-of-florida-but-has-another-place-of-residence-in-another-state-or-states-evidence-domicile-in-the-state-of-florida/ Florida Statute Section 222. 17(2) provides: Any person who shall have established a domicile in the State of Florida, but who shall maintain another place or places of abode in some other state or states, may manifest and evidence his or her domicile in this state by filing in the office of the clerk of the circuit court for county in which he or she resides, a sworn statement that his or her place of abode in Florida constitutes his or her predominant and principal home, and that he or she intends to continue it permanently as such. Florida Statute Section 222. 17(3): Such sworn statement shall contain, in addition to the foregoing, a declaration that the person making the same is, at the time of making such statement, a bona fide resident of the state, and shall set forth therein his or her place of residence within the state, the city, county and state wherein he or she formerly resided, and the place or places, if any, where he or she maintains another or other place or places of abode. --- - Published: 2015-06-27 - Modified: 2015-06-27 - URL: https://www.jayweller.com/how-does-one-show-that-he-or-she-seeks-to-establish-florida-as-his-or-her-domicile/ Florida Statute Section 222. 17(1) provides: Any person who shall have established a domicile in this state may manifest and evidence the same by filing in the office of the clerk of the circuit court for the country in which the said person shall reside, a sworn statement showing that he or she resides in and maintains a place of abode in that county which he or she recognizes and intends to maintain as his or her permanent home. --- - Published: 2015-06-26 - Modified: 2015-06-26 - URL: https://www.jayweller.com/florida-law-provides-that-wages-or-unemployment-compensation-due-a-deceased-employee-may-be-paid-to-the-spouse-or-certain-relatives/ Florida Statute Section 222. 15 provides: It is lawful for any employer, in case of the death of an employee, to pay to the wife or husband, and in case there is no wife or husband, then to the child or children, provided the child or children are over the age of 18 years, and in case there is no child or children, then to the father or mother, any wages or travel expenses that may be due such employee at the time of his or her death. It is also lawful for the Agency for Workplace Innovation, in case of death of any unemployed individual, to pay to those persons referred to in subsection (1) any unemployment compensation payments that may be due to the individual at the time of his or her death. Florida Statute Section 222. 16 provides that such wages or unemployment compensation so paid are not subject to administration. The Statute provides: Any wages, travel expenses, or unemployment compensation payments so paid under the authority of s. 222. 15 shall not be considered as assets of the estate and subject to administration; provided, however, that the travel expenses so exempted from administration shall not exceed the sum of $300. --- - Published: 2015-06-25 - Modified: 2015-06-25 - URL: https://www.jayweller.com/are-the-cash-surrender-value-of-life-insurance-policies-and-annuity-contracts-exempt-or-protected-from-creditors-in-the-state-of-florida/ Florida Statute Section 222. 14 states: The cash surrender values of life insurance policies issued upon the lives of citizens or residents of the state and the proceeds of annuity contracts issued to citizens or residents of the state, upon whatever form , shall not in any case be liable to attachment, garnishment or legal process in favor of any creditor of the person whose life is so insured or of any creditor of the person who is the beneficiary of such annuity contract, unless the insurance policy or annuity contract was effected for the benefit of such creditor. --- - Published: 2015-06-24 - Modified: 2015-06-24 - URL: https://www.jayweller.com/is-a-life-insurance-policy-protected-from-creditors-in-florida/ Florida Statute 222. 13 states: Whenever any person residing in this state shall die leaving insurance on his or her life, the said insurance shall inure exclusively to the benefit of the person for whose use and benefit such insurance is designated in the policy, and the proceeds thereof shall be exempt from the claims of creditors of the insured unless the insurance policy or a valid assignment thereof provides otherwise. Notwithstanding the foregoing, whenever the insurance, by designation or otherwise, is payable to the insured or to the insured’s estate or to his or her executors, administrators, or assigns, the insurance proceeds shall become a part of the insured’s estate for all purposes and shall be administered by the personal representative of the estate of the insured in accordance with the probate laws of the state in like manner as other assets of the insured’s estate. Payments as herein directed shall, in every such case, discharge the insurer from any further liability under the policy, and the insurer shall in no event be responsible for, or be required to see to, the application of such payments. --- - Published: 2015-06-23 - Modified: 2015-06-23 - URL: https://www.jayweller.com/how-are-the-proceedings-to-determine-an-exemption-conducted-in-florida/ Florida Statute Section 222. 12 states: Whenever any money or other thing due for labor or services as aforesaid is attached by such process, the person to whom the same is due and owing may make oath before the officer who issued the process or before a notary public that the money attached is due for the personal labor and services of such person, and she or he is the head of a family residing in said state, When such an affidavit is made, notice of same shall be forthwith given to the party, or her or his attorney, who sued out the process, and if the facts set forth in such affidavit are not denied under oath within 2 business days after the service of said notice, the process shall be returned, and all proceedings under the same shall cease. If the facts stated in the affidavit are denied by the party who sued out the process within the time above set forth and under oath, then the matter shall be tried by the court from which the writ or process issued, in like manner as claims to property levied upon by writ of execution are tried, and the money or thing attached shall remain subject of the process until released by the judgment of the court which shall try the issue. --- - Published: 2015-06-22 - Modified: 2015-06-22 - URL: https://www.jayweller.com/circuit-courts-in-florida-have-equity-jurisdiction-to-enjoin-the-sale-of-all-property/ Florida Statute Section 222. 09 states: The circuit courts have equity jurisdiction to enjoin the sale of all property, real and personal, that is exempt from forced sale. --- - Published: 2015-06-21 - Modified: 2015-06-21 - URL: https://www.jayweller.com/courts-in-florida-have-equity-jurisdiction-to-set-apart-homestead-and-exemption/ Florida Statute Section 222. 08 states: The circuit courts have equity jurisdiction to order and decree the setting apart of homesteads and of exemptions of personal property from forced sales. --- - Published: 2015-06-20 - Modified: 2015-06-20 - URL: https://www.jayweller.com/defendants-right-to-selection-under-florida-law/ Florida Statute Section 222. 07 states: Upon the completion of the inventory the person entitled to the exemption, or the person’s agent or attorney , may select from such inventory an amount of property not exceeding, according to such appraisal, the amount of value exempted; but if the person so entitled, or the person’s agent, or attorney, does not appear and make such selection, the officer shall make the selection for him or her, and the property not so selected as exempt may be sold. --- - Published: 2015-06-19 - Modified: 2015-06-19 - URL: https://www.jayweller.com/florida-statute-section-222-0615-provides/ The State of Florida has Laws that provide some protections for Debtors against Creditors. Florida provides an Exemption for the Personal Property of the Debtor, both within a Bankruptcy and outside of one. Florida Statute Section 222. 061 provides a method of exempting Personal Property. Section 222. 061(1) provides: When a levy is made by writ of execution, writ of attachment, or writ of garnishment upon personal property which is allowed by law or by the State Constitution to be exempt from levy and sale, the debtor may claim such personal property to be exempt from sale by making, within 15 days after the date of the levy, an inventory of his or her personal property. The inventory shall show the fair market valuation of the property listed and shall have an affidavit attached certifying that the inventory contains a correct list off all personal property owned by the debtor in this state and that the value shown is the fair market value of the property. The debtor shall designate the property listed in the schedule which he or she claims to be exempt from levy and sale. Florida Statute Section 222. 061(2) states: The original inventory and affidavit shall be filed with the court which issued the writ. The debtor, by mail or hand delivery, shall promptly serve one copy upon the judgment creditor and furnish one copy to the sheriff who executed the writ. If the creditor desires to object to the inventory, he or she shall file and objection with the court which issued the writ within 5 days after service of the inventory, or he or she shall be deemed to admit the inventory as true. If the creditor does not file an objection, the clerk of the court shall immediately send the case file to the court issuing the writ, and the court shall promptly issue an order exempting the items claimed. Such order shall be sent by the court to the sheriff directing him or her to promptly redeliver to the debtor any exempt property under the levy and to sell any nonexempt property under the levy according to law. Florida Statute Section 222. 061(3) provides: If the creditor files an objection, he or she shall promptly serve, by mail or hand delivery, one copy on the debtor and furnish one copy to the sheriff who executed the writ. Upon the filing of an objection, the clerk shall immediately send the case file to the court issuing the writ, and the court shall automatically schedule a prompt evidentiary hearing to determine the validity of the objection and shall entire its order therein describing the exempt and nonexempt property. Upon its issuance, the order shall be sent by the court to the sheriff directing him or her to promptly redeliver to the debtor any exempt property under the levy and to sell the nonexempt property under the levy according to law. Florida Statute Section 222. 061(4) provides: The court shall appoint a disinterested appraiser to... --- - Published: 2015-06-18 - Modified: 2015-06-18 - URL: https://www.jayweller.com/florida-law-has-a-special-exemption/ Florida Law has a special Exemption for a Homestead that is a mobile home or modular home on land that the Debtor Homeowner, does not own. Meaning, the Debtor owns the mobile home but leases the land. Section 222. 05 provides: Any person owning and occupying any dwelling house, including a mobile home used as a residence, or modular home, on land not his or her own which he or she may lawfully possess, by lease or otherwise, and claiming such house, mobile home, or modular home as his or her homestead, shall be entitled to the exemption of such house, mobile home, or modular home from levy and sale as aforesaid. --- - Published: 2015-06-17 - Modified: 2015-06-17 - URL: https://www.jayweller.com/florida-section-222-015-provides/ Florida Statute Section 222. 01(4) provides that a lien cannot generally attach to the Homestead of a Debtor in the State of Florida. However, Article X of the Florida State Constitution and Section 222. 01(5) provides Exceptions to this general rule. Florida Section 222. 01(5) provides: As provided in s. 4, Art. X of the State Constitution, this subsection shall not apply to: Liens and judgments for the payment of taxes and assessments on real property. Liens and judgments for obligations contracted for the purchase of real property. Liens and judgments for labor, services, or materials furnished to repair or improve real property. Liens and judgments for other obligations contracted for house, field, or other labor performed on real property. --- - Published: 2015-06-16 - Modified: 2015-06-16 - URL: https://www.jayweller.com/a-lien-pursuant-to-chapter-55/ In the State of Florida, a Lien generally cannot attach against Homestead property. There are some exceptions to this general rule. Florida Statute Section 222. 01(4) provides: A lien pursuant to chapter 55 of any lienor upon whom such notice is served, who fails to institute an action for a declaratory judgment to determine the constitutional homestead status of the property described in the notice of homestead or to file an action to foreclose the judgment lien, together with the filing of a lis pendens in the public records of the county in which the homestead is located, with 45 days after service of such notice shall be deemed as not attaching to the property by virtue of its status as homestead property as to the interest of any buyer or lender, or his or her successors or assigns, who takes under the contract of sale or loan commitment described above within 180 days after the filing in the public records of the notice of homestead. This subsection shall not act to prohibit a lien from attaching to the real property described in the notice of homestead at such time as the property loses its homestead status. --- - Published: 2015-06-15 - Modified: 2015-06-15 - URL: https://www.jayweller.com/notice-of-homestead/ If a natural person residing in Florida, has a Judgment entered against him for a Debt, and he owns and desires to protect his Homestead, then under Section 222. 01(2) of the Florida Statutes, he has a remedy. Section 222 provides: When a certified copy of a judgment has been filed in the public records of a county pursuant to chapter 55, a person who is entitled to the benefit of the provisions of the State Constitution exempting real property as homestead and who has a contract to sell or a commitment from a lender for a mortgage on the homestead may file a notice of homestead in the public records of the county in which the homestead is located... . Florida Statute Section 222 continues, and explicitly gives the form of the Notice Of Homestead that the homeowner must use to claim the Homestead Exemption, as against a Judgment Creditor. --- - Published: 2015-06-14 - Modified: 2015-06-14 - URL: https://www.jayweller.com/under-florida-statute-769-05/ Under Florida Statute 769. 05, Damages or an award for the Damages, received by employees working in hazardous occupations, are Exempt or protected from Creditor attachment, garnishment or levy. --- - Published: 2015-06-13 - Modified: 2015-06-13 - URL: https://www.jayweller.com/under-florida-statute-222-18/ Under Florida Statute 222. 18, Disability Benefits are Exempt or protected against Creditor garnishment, attachment or levy --- - Published: 2015-06-12 - Modified: 2015-06-12 - URL: https://www.jayweller.com/lottery-winnings/ Lottery winnings are not Exempt or protected from attachment, levy or garnishment by Creditors under Florida Law. --- - Published: 2015-06-11 - Modified: 2015-06-11 - URL: https://www.jayweller.com/life-insurance-proceeds/ Life Insurance proceeds that are paid to a specific beneficiary are Exempt or protected from Creditors from attachment, levy or garnishment, under Florida Statute 222. 13. --- - Published: 2015-06-10 - Modified: 2015-06-10 - URL: https://www.jayweller.com/florida-statute-222-201-2/ Florida Statute 222. 201 provides that Alimony and Child Support are Exempt or protected from levy, attachment or garnishment by Creditors, but only to the extent reasonably necessary for the support of the Debtor. --- - Published: 2015-06-09 - Modified: 2015-06-09 - URL: https://www.jayweller.com/florida-statute-960-14/ Florida Statute 960. 14 provides that Crime Victims Compensation benefits are generally Exempt or protected from attachment, garnishment or levy, by Creditors. An Exception to this rule is when the Debtor is seeking the Discharge of debt relating to the medical treatment of the Victims injuries resulting from the crime. --- - Published: 2015-06-08 - Modified: 2015-06-08 - URL: https://www.jayweller.com/florida-statute-section-440-22/ Florida Statute Section 440. 22 provides that Workers Compensation benefits are generally Exempt or protected from garnishment, attachment or levy, by Creditors, in the State of Florida. --- - Published: 2015-06-07 - Modified: 2015-06-07 - URL: https://www.jayweller.com/florida-statute-222-201/ Florida Statute 222. 201 provides that Veterans Benefits are Exempt or protected from attachment, seizure or garnishment by Creditors in the State of Florida. --- - Published: 2015-06-06 - Modified: 2015-06-06 - URL: https://www.jayweller.com/under-florida-statute-238-15/ Under Florida Statute 238. 15, Teachers Retirement benefits are Exempt or protected from attachment, levy or garnishment, in the State of Florida. --- - Published: 2015-06-05 - Modified: 2015-06-05 - URL: https://www.jayweller.com/under-florida-statute-section-185-25/ Under Florida Statute, Section 185. 25, municipal Police Pensions are Exempt or protected from attachment, levy or garnishment by Creditors, in the State of Florida. --- - Published: 2015-06-04 - Modified: 2015-06-04 - URL: https://www.jayweller.com/under-florida-statute-section-175-241/ Under Florida Statute, Section 175. 241, Pensions of Firefighters are Exempt or protected from garnishment, levy or attachment by Creditors, in the State of Florida. --- - Published: 2015-06-03 - Modified: 2015-06-03 - URL: https://www.jayweller.com/florida-statute-section-122-15/ Florida Statute, Section 122. 15 provides that any benefits paid to State and County Officers and Employees under the Florida Retirement System, are Exempt, or protected from garnishment, attachment or levy, by Creditors. --- - Published: 2015-06-02 - Modified: 2015-06-02 - URL: https://www.jayweller.com/under-florida-statute-section-121-131/ Under Florida Statute, Section 121. 131, benefits under the Florida Retirement System are Exempt or protected for attachment, seizure, or garnishment by Creditors, in the State of Florida. --- - Published: 2015-06-01 - Modified: 2015-06-01 - URL: https://www.jayweller.com/iras-and-roth-iras/ As of the time of the writing of this Blog, IRAs and Roth IRAs are Exempt or protected from garnishment, seizure, or attachment by Creditors in the State of Florida, under Federal Statute, Section 522(b)(3)(C)(n), up to $1,171,650. --- - Published: 2015-05-31 - Modified: 2015-05-31 - URL: https://www.jayweller.com/federal-statute-11-usc-section-522/ Federal Statute, 11 USC Section 522 and Florida State Statute, Section 222. 21 provide that all ERISA qualified retirement plans and pensions, are Exempt or protected from attachment, seizure or garnishment, by Creditors in the State of Florida. --- - Published: 2015-05-30 - Modified: 2015-05-30 - URL: https://www.jayweller.com/garnishment-and-personal-property/ The Florida Wildcard Exemption means that a Debtor can Exempt or protect from seizure, attachment or garnishment of Assets by his Creditors, up to $4,000 in Personal Property, if the Debtor does not use the Homestead Exemption. Florida Statute 222. 25. --- - Published: 2015-05-28 - Modified: 2015-05-28 - URL: https://www.jayweller.com/garnishment-protection/ Section 222. 25 of the Florida Statutes protects Prescribed Health Aids from attachment, seizure or garnishment by Creditors. Section 222. 22(2) of the Florida Statutes protects Prepaid Medical Savings Accounts and Health Savings Accounts Deposits from attachment, seizure or garnishment by Creditors. --- - Published: 2015-05-27 - Modified: 2015-05-27 - URL: https://www.jayweller.com/section-222-222-of-the-florida-statutes/ Section 222. 22(2) of the Florida Statutes protects Education Savings, Health Savings, and Hurricane Savings accounts from attachment or Garnishment by Creditors. --- - Published: 2015-05-26 - Modified: 2015-05-26 - URL: https://www.jayweller.com/article-i-section-4/ Article I, Section 4 of the Florida State Constitution has an Exemption for Personal Property, wherein Creditors cannot attach more than $1,000 worth of your Personal Property, such as furniture, electronics, and artwork. --- - Published: 2015-05-24 - Modified: 2015-05-24 - URL: https://www.jayweller.com/florida-has-an-unlimited-homestead-exemption/ Florida has an unlimited Homestead Exemption, in terms of the Fair Market Value of the Homestead. Provided you property sits on less than one-half acre in a municipality of less than 160 acres if outside a municipality, then the property can have an unlimited value in Fair Market Value. However, if you lived in your Homestead for less than 1215 days before filing Bankruptcy, you are limited to using the Federal Exemption, as it applies to your Homestead property. As of the time of the writing of this blog post, the Federal Exemption for the Homestead was approximately $147,500 for a single Debtor filing Bankruptcy, and twice that figure for a Husband and Wife jointly filing Bankruptcy. --- - Published: 2015-05-23 - Modified: 2015-05-23 - URL: https://www.jayweller.com/state-exemptions-of-florida/ In the State of Florida, if you file Bankruptcy, you will most likely use the State Exemptions of Florida, rather than the Federal Exemptions, or the Exemptions of any other State. There is an Exception to this Rule. To use the State Exemptions of Florida when filing Bankruptcy in Florida, you must be Domiciled in the State of Florida for at least 730 days before filing Bankruptcy. This is known as the 730 day rule. If you lived in more than one State in the last 730 days then the State you lived in the for the most period of time (or days) before the filing of the Bankruptcy, is the State in which you apply the Exemption. The reason for this rule is the US Congress, in passing the revisions to the Bankruptcy Laws in 2005, wanted to prevent forum shopping, where a Debtor would file Bankruptcy in the State with the most favorable Exemptions. Although some Debtors engaged in forum shopping, they were the small minority of those filing Bankruptcy. Nevertheless, the 730 day rule and the 180 day rule were created to prevent forum shopping. --- - Published: 2015-05-22 - Modified: 2015-05-22 - URL: https://www.jayweller.com/homestead-exemption-the-final-word/ In 1998, In re McFadyen, a Bankruptcy Court decision in the Middle District of Florida, held that a Federal Tax Lien is enforceable against Homestead property in the State of Florida. There are three exceptions to the Florida Homestead Exemption, in which a Creditor can force the sale of a Homestead, according to the Florida Supreme Court in the case of Havoco of America, Ltd v. Hill: Payment of taxes and assessments on the Homestead; Obligations contracted for the purchase, improvement or repair of the Homestead; Obligations contracted for house, field or other labor performed on the property. The Court in Havoco held that a Debtor’s use of funds in order to avoid his Creditor, was not one of the exceptions to the protections of the Homestead Exception, as determined in the Florida State Constitution, and therefore, not a basis to void the Homestead Exemption, as claimed by the Debtor, in that case. Jay Weller is an Attorney who has represented over 40,000 persons in Bankruptcy Proceedings, and has helped many thousand more escape the burdens of Debt through the many non Bankruptcy Programs offered by himself and Weller Legal Group, PA. Weller Legal Group has offices serving Pinellas, Pasco and Polk Counties, and located centrally in Clearwater, Port Richey, and Lakeland. Jay Weller may be reached for a Free Consultation at 1-800-407-3328 (DEBT). --- - Published: 2015-05-21 - Modified: 2024-12-19 - URL: https://www.jayweller.com/protection-against-creditors/ Most Florida Courts have held that in order to claim the Homestead Exemption as a protection against Creditors, the homeowner must reside in the property. In 1882 in Drucker v Rothstein, a Florida Court held that a piece of land that was never occupied by the Claimant, as a home or dwelling, and not capable of occupancy, does not qualify as a Homestead under the Constitution of the State of Florida. Furthermore, in the case of In Re. Estate of Ritter, another Florida Court case held that a lot that never had any structures or improvements which served the residence, which was located on an adjoining lot, and did not have a jointly fenced in yard, but served as an excess side yard to the residence, was not entitled to the benefit of the Homestead Exemption. However, the lot which contained the residence or dwelling, presumably would qualify for the Homestead Exemption. --- - Published: 2015-05-20 - Modified: 2024-12-19 - URL: https://www.jayweller.com/for-a-debtor-to-claim-the-homestead-exemption/ In order for a Debtor to claim the Homestead Exemption in the State of Florida as a protection against his Creditors, he generally must be occupying the dwelling. --- - Published: 2015-05-19 - Modified: 2015-05-19 - URL: https://www.jayweller.com/chapter-222-florida-statute/ Chapter 222 is the Florida Statute, enacted by the Florida Legislature, that implements the Homestead Exemption protection, that is contained in the State Constitution of the State of Florida. Florida Statute 222. 05 states: Any person owning and occupying any dwelling house, including a mobile home used as a residence, or modular home, on land not his or her own which he or she may lawfully possess, by leased of otherwise and claiming such house, mobile home, or modular home as his or her homestead, shall be entitled to the exemption of such house, mobile home, or modular home form levy and sale as aforesaid. --- - Published: 2015-05-18 - Modified: 2024-12-19 - URL: https://www.jayweller.com/florida-law-in-homesteads/ In Southern Walls, Inc v. Stilwell Corp, the 5th District Court in Florida, in discussing the Florida Homestead Exemption, stated, “although a castle to one may be a shanty to another, the law does not so discriminate. Thus, regardless of whether one’s castle is a traditional home or a modest cottage, whether it is a rural farmhouse or a villa by the sea, whether it floats or sits on wheels, whether it is a condominium or a co-op, it should receive the same protection under Florida law”. --- - Published: 2015-05-17 - Modified: 2024-12-19 - URL: https://www.jayweller.com/homestead-exemptions-further-explained/ The Judge in Public Health v Lopez, when discussing the Florida Homestead Exemption, as a protection against Creditors, stated that the purpose of the Homestead Exemption is to promote the stability and welfare of the state by securing to the householder a home, so that the homeowner may live beyond the reach of financial misfortune. --- - Published: 2015-05-16 - Modified: 2024-12-19 - URL: https://www.jayweller.com/homestead-exemptions/ In order for a Debtor to claim the benefit of the Florida Homestead Exemption, against a Creditor, he must be a Resident of the State of Florida. In re Bermudez, a 1992 South District Court decision held that a Debtor who has a permanent visa or green card can qualify as a Resident of Florida for purposes of the Florida Homestead Exemption. An Alien Debtor, or a Debtor illegally within the borders of the United States, and specifically Florida, cannot claim the Homestead Exemption against a pursuing Creditor because such Debtor cannot form the required Intent to make such Residence his permanent residence. --- - Published: 2015-05-15 - Modified: 2024-12-19 - URL: https://www.jayweller.com/homestead-exemption-in-florida-continued/ If you live in the State of Florida and you own property, you may be able to claim that property as Exempt as your Homestead. Our prior Blogs discussed the requirements to establish the Homestead Exemption. In turn, a Creditor or a Bankruptcy Trustee can potentially seek to oppose your assertion of the Homestead Exemption to your property. The Creditor’s checklist includes: Is the property located in the State of Florida? Is the Debtor residing or his family residing, in the property? If the property is located outside of a municipality, does the property contain more than 160 contiguous acres? If the property is located inside of a municipality, does the property comprise more than one-half acre? If the property owner has more than one-half acre of land, does he exceed the acreage limitation because of a subsequent change to a municipality, and did the owner consent to waiving his right to claim the Homestead Exemption? Did the property owner purchase the Homestead though funds that were fraudulently obtained? Is the property contiguous, or separate parcels of land? Is the person claiming the Homestead Exemption a Resident of the State of Florida? Does the person claiming the Homestead Exemption not only have Residence in the State of Florida BUT have actual intent to permanently Reside in the State of Florida? --- - Published: 2015-05-14 - Modified: 2024-12-19 - URL: https://www.jayweller.com/homestead-exemption-defined/ The Constitution of the State of Florida has a Homestead Exemption for Asset protection or protection of that Asset from Creditors, other than your Mortgage, which is Secured by the Homestead. Please read our other Blogs on the Florida Homestead Exemption. Article X, Section 4(a) of the Florida Constitution states: There shall be exempt from forced sale under process of any court, and no judgment, decree or execution of a lien thereon, except for the payment of taxes and assessments thereon, obligations contracted for the purchase, improvement or repair thereof; or obligations contracted for house, field or other labor performed on the realty, the following property owned by a natural person: (1) a homestead, if located outside a municipality, to the extent of one hundred sixty acres of contiguous land and improvements thereon, which shall not be reduced without the owner’s consent by reason of subsequent inclusion in a municipality; or if located within a municipality, to the extent of one-half acre of contiguous land, upon which the exemption shall be limited to the residence of the owner, or the owners family. --- - Published: 2015-05-13 - Modified: 2024-12-19 - URL: https://www.jayweller.com/homestead-exemption-in-florida/ After forty months, if a property in the State of Florida qualifies as a Debtor’s Homestead or qualifies for the Homestead Exemption pursuant to Florida Law, then the property may have an unlimited fair market value, provided such property does not exceed one-half acre within a municipality in the State of Florida and 160 acres if such property is located outside a municipality in the State of Florida. --- - Published: 2015-05-01 - Modified: 2024-12-18 - URL: https://www.jayweller.com/although-property-held-by-husband-and-wife/ Although property held by husband and wife as Tenants by the Entirety is considered part of the bankruptcy estate, if a debtor files Bankruptcy, Section 522 of the Bankruptcy Code allows the Debtor to claim certain Exemptions. If an Asset is Exempt, then it is exempt or protected from seizure by the Bankruptcy Trustee or Creditors. Section 522(d) of the Bankruptcy Code lists the Federal Exemptions, but each State, under Section 522 of the Bankruptcy Code, can opt-out of the Federal Exemptions and elect to use their own State Exemptions. Florida is one of the States that have opted-out of the Federal Exemptions. Florida Law recognizes property owned by husband and wife, provided it meets certain criteria, as property held in Tenancy by the Entireties. --- - Published: 2015-05-01 - Modified: 2015-05-01 - URL: https://www.jayweller.com/under-florida-statute-section-319-22a1/ Under Florida Statute, Section 319. 22(a)1, a motor vehicle or mobile home owned by two or more persons with an “or” designation is considered to be owned in Joint Tenancy or a Tenancy by Commons. If property is owned in Joint Tenancy, then each person has ownership over all of the property. Either A or B may sell the property. A Creditor of either A or B may attach or garnish the property. If property is owned by A and B, with an “and” designation, and A and B are husband and wife, the Florida Courts will likely presume that such property is owned in Tenancy by the Entireties. --- - Published: 2015-04-30 - Modified: 2024-12-19 - URL: https://www.jayweller.com/if-the-husband-and-wife-are-jointly-indebted/ Under Florida Law, although property owned by husband and wife in Tenancy by the Entireties, is exempt from attachment or garnishment by one of the spouse’s creditors, if the husband and wife are jointly indebted to a Creditor, that Creditor may attach or garnish such property. --- - Published: 2015-04-30 - Modified: 2024-12-19 - URL: https://www.jayweller.com/section-541-of-the-bankruptcy-code-states/ Section 541 of the Bankruptcy Code states that the Debtor’s Estate includes all legal and equitable interests of the Debtor as of the commencement of the case. Commencement of the case means the filing of the Bankruptcy. Most Courts hold that property held in Tenancy by the Entireties is either a legal or equitable interest in property and therefore, part of the debtor’s bankruptcy estate. --- - Published: 2015-04-29 - Modified: 2015-04-29 - URL: https://www.jayweller.com/in-florida-property-held-jointly/ In Florida, property held jointly by a Husband and Wife, is recognized as being held in Tenancy by the Entireties, provided several “unities” are satisfied. In order for property owned by a husband and wife to be recognized as being held in Tenancy by the Entireties, there must be: Joint ownership and control; Identical interest in the property; The interest must have originated in the same instrument; The interest must have commenced simultaneously; The parties must have been married at the time they acquired the property; The surviving spouse will own the property after either spouse dies --- - Published: 2015-04-29 - Modified: 2015-04-29 - URL: https://www.jayweller.com/the-florida-supreme-court-has-held/ The Florida Supreme Court has held that any property jointly owned by husband and wife is presumed to be held in Tenancy by the Entireties. --- - Published: 2015-04-28 - Modified: 2015-04-28 - URL: https://www.jayweller.com/a-creditor-cannot-garnish-the-earnings-of/ In the State of Florida, a Creditor cannot Garnish the Earnings of a Head Of Family, who is a natural person who provides more than one-half of the support of a child or other dependent, unless such Head of Family (otherwise known as the head of household), agrees in writing to such Garnishment. Section 222. 11 of the Florida Statutes also prohibits the Garnishment of the bank account of a Head Of Family, up until six months after such Earnings were first received. Florida Law also provides that commingling of the Earnings of the Head Of Family into such bank account with other monies, does not necessarily defeat the ability of the Head Of Family to claim such Earnings or monies as Exempt. --- - Published: 2015-04-28 - Modified: 2015-04-28 - URL: https://www.jayweller.com/florida-law-prohibits-the-garnishment-of-the-bank-account-of/ Florida Law prohibits the Garnishment of the bank account of a Head Of Family, for up to six months after such Earnings are received by the Head Of Family. If the Creditor does not follow certain procedural requirements, the Garnishee can seek to have the Garnishment dissolved on procedural grounds (in addition to the grounds that the Garnishee is Head Of Family). Cullen, III v. Marsh, a Florida Case that addressed Sanctions against a Creditor for not following the proper procedural requirements for Garnishment, the Court addressed the procedures that need to be followed by a Creditor seeking the Garnishment of a Debtor’s bank account. The Plaintiff (or Creditor) must furnish by first class mail to the Defendant, a copy of the Writ of Garnishment and a copy of the Motion for Writ of Garnishment. If the Defendant is an individual, then the Plaintiff must send a “Notice To Defendant” to Defendant’s last known address within five business days after the Writ is issued or three business days after the Writ is actually served on the Garnishee, whichever is later. 25 States in the United States, including District of Colombia and Florida, recognize property held by Husband and Wife as Tenancy by the Entireties --- - Published: 2015-04-27 - Modified: 2015-04-27 - URL: https://www.jayweller.com/to-stop-the-garnishment-of-your-earnings-or-wages/ If you file a Claim of Exemption, as the Head of Family in the State of Florida, to stop the Garnishment of your Earnings or Wages, the Creditor must file a Response or Objection to the Claim of Exemption within eight days if the notice of Claim of Exemption is hand delivered. If such notice is furnished by mail, the Creditor has up to 14 days to file a Response. If the Creditor does not file a Response within the prescribed period of time, then the Head Of Family may have the Garnishment dissolved on procedural grounds. --- - Published: 2015-04-27 - Modified: 2015-04-27 - URL: https://www.jayweller.com/earnings-of-the-head-of-family/ In the State of Florida, the Earnings of the Head Of Family may not lawfully be Garnished by a Creditor, unless such person consents in writing to such Garnishment. Even if a Debtor is not a Head Of Family, Federal Law has some restrictions on the amount that a Creditor may Garnish. Under Federal Law, a Creditor cannot Garnish more than 25% of a Debtor’s net wages OR take home pay representing more than thirty times the federal minimum wage, whichever is less. --- - Published: 2015-04-26 - Modified: 2015-04-26 - URL: https://www.jayweller.com/earnings-of-the-head-of-family-are-protected/ In the State of Florida, the Earnings of the Head Of Family are protected or Exempt from Garnishment by Creditors. The only exception to this Law is when the Head Of Family earns over $750 per week in Disposable Earnings and he or she agrees in writing to such Garnishment. Although the Earnings or Wages of the Head Of Family are Exempt from Garnishment in Florida, there is no established procedure in which the Head Of Family can use the benefit of this Law before he or she is Garnished by a Creditor. --- - Published: 2015-04-26 - Modified: 2015-04-26 - URL: https://www.jayweller.com/if-a-creditor-garnishes-your-earnings/ If a Creditor Garnishes your Earnings or Wages in the State of Florida and you are the Head Of Household or Head Of Family, meaning you provide through your Earnings, more than 50% of the support of a child or other dependent, then Florida Law prohibits such Garnishment, unless you agree in writing to such Garnishment. If your Wages or Earnings are being Garnished, or you bank account in which you deposit your Earnings, then the Head Of Family may file with the appropriate Court a Claim of Exemption or may file a Motion To Dissolve Wage Garnishment, in order to stop such Garnishment. --- - Published: 2015-04-25 - Modified: 2015-04-25 - URL: https://www.jayweller.com/section-222-11-of-the-florida-statutes-provides-that/ Section 222. 11 of the Florida Statutes provides that the Earnings of the Head of Family are Exempt or protected from Garnishment from a Creditor, unless the Head of Family has Disposable Earnings exceeding $750 per week and such person consents in Writing to such Garnishment. If a Debtor is not the Head of Family, his or her Earnings may be subject to Garnishment by a Creditor, however, the amount that may be Garnished may not exceed the amount allowed under the Consumer Credit Protection Act, 15 USC Section 1673. --- - Published: 2015-04-25 - Modified: 2015-04-25 - URL: https://www.jayweller.com/the-earnings-of-a-head-of-family-or-head-of-household/ The Earnings of a Head Of Family or Head of Household, in the State of Florida are Exempt or protected from Garnishment by Creditors. The only exception to this Law, which is defined in Section 222. 11 of the Florida Statutes, is when the Head Of Family has more than $750 per week in Disposable Earnings AND such Head Of Family agrees in writing, to the Garnishment. The Head Of Family is defined as any natural person that provides more than one-half of the support for a child or other dependent person. The Courts have generally held that in defining a dependent, it is not necessary that the Head Of Family claims such person as a dependent on his or her tax return. Having a moral obligation to support the other person or dependent, is sufficient to qualify as a Head Of Family. For example, a husband supporting his wife, or an adult supporting his or her ailing parent, could qualify as a Head Of Family, pursuant to Florida Law. --- - Published: 2015-04-24 - Modified: 2015-04-24 - URL: https://www.jayweller.com/florida-statute-222-11-provides-for-the-exemption-of-wages/ Florida Statute 222. 11 provides for the Exemption of Wages or Earnings of the Head Of Family from Garnishment by Creditors. Florida Statute Section 222. 11(1)(c) defines HEAD OF FAMILY as: “Head of family” includes any natural person who is providing more than one-half of the support for a child or other dependent. --- - Published: 2015-04-24 - Modified: 2015-04-24 - URL: https://www.jayweller.com/section-221-11-of-the-florida-statutes-provides-that-creditors/ Section 221. 11 of the Florida Statutes provides that Creditors cannot Garnish the Earnings of the Head Of Family, unless the Head of Family has Disposable Earnings over $750 per week and the same person agrees in writing to such Garnishment. Florida Law Section 221. 11(b) provides that the written agreement must: Be written in the same language as the contract or agreement to which the waive relates; Be contained in a separate document attached to the contract or agreement; and Be in substantially the following form in at least 14-point type: IF YOU PROVIDE MORE THAN ONE-HALF OF THE SUPPORT FOR A CHILD OR OTHER DEPENDANT ALL OR PART OF YOU INCOME IS EXEMPT FROM GARNISHMENT UNDER FLORIDA LAW. YOU CAN WAIVE THIS PROTECTION ONLY BY SIGNING THIS DOCUMENT. BY SIGNING BELOW, YOU AGREE TO WAIVE THE PROTECTION FROM GARNISHMENT. (Consumer’s Signature) (Date Signed) I have fully explained this document to the consumer. (Creditor’s Signature) (Date Signed) --- - Published: 2015-04-23 - Modified: 2015-04-23 - URL: https://www.jayweller.com/section-222-11-of-the-florida-statutes-exempts-the-earnings-of/ Section 222. 11 of the Florida Statutes Exempts the Earnings of the Head Of Household from Garnishment. Section 222. 11(1)(a) defines Earnings as: “Earnings” includes compensation paid or payable, in money of a sum certain, for personal Services or labor whether denominated as wages, salary, commission, or bonus. --- - Published: 2015-04-23 - Modified: 2015-04-23 - URL: https://www.jayweller.com/section-221-11-of-the-florida-statutes-exempts-the-earnings-of/ Section 221. 11 of the Florida Statutes Exempts the Earnings of the Head of Household from Garnishment, Unless the Head Of Family has DISPOSABLE EARNINGS of over $750 per week and agrees in writing to such Garnishment. Section 222. 11(1)(b) defines DISPOSABLE EARNINGS as: “disposable earnings” means that part of the earnings of any head of family remaining after the deduction from those earnings of any amounts required by law to be withheld”. --- - Published: 2015-04-22 - Modified: 2015-04-22 - URL: https://www.jayweller.com/florida-has-a-head-of-family-or-head-of-household-exemption/ Florida has a Head Of Family or Head Of Household Exemption that provides that the Wages of the Head Of Family are Exempt from Garnishment. That means the Wages of the Head Of Family cannot be Garnished in the State of Florida. There are some exceptions to this Law. --- - Published: 2015-04-22 - Modified: 2015-04-22 - URL: https://www.jayweller.com/the-exemption-for-the-head-of-family-is-defined/ The Exemption for the Head Of Family is defined in Section 222. 11 of the Florida Statutes. The Wages of the Head Of Family cannot be garnished in the State of Florida. There are some exceptions to this Law. Section 222. 11 provides: The EARNINGS of the HEAD OF FAMILY cannot be Garnished, UNLESS The Head Of Family has DISPOSABLE EARNINGS of more than $750. 00 per week AND such person AGREED OTHERWISE IN WRITING. The important terms to define are HEAD OF FAMILY, EARNINGS, DISPOSABLE EARNINGS, and what constitutes AGREED OTHERWISE IN WRITING. --- - Published: 2015-03-18 - Modified: 2015-03-18 - URL: https://www.jayweller.com/the-us-bankruptcy-code-and-student-loans/ The US Bankruptcy Code And Student Loans: Constructing The Plain Meaning Of The Bankruptcy Code In Attacking Student Loans Part II In Series by Jay Weller Editors Note: In Part One in our Series on Student Loans, the writer offered an Equation in determining whether Student Loans can be Discharged in Bankruptcy. The Equation should properly state: UNDUE HARDSHIP + (NOT A OR B OR C) = STUDENT LOAN DISCHARGE For the Second Portion of our analysis of Student Loans, the analyzer now needs to partition the salient portions of the Bankruptcy Code Section 523. The Bankruptcy Attorney, in determining whether a Student Loans can be Discharged in Bankruptcy, should first look at whether the Student Loans creates an Undue Hardship. The term, Undue Hardship, almost necessarily demands interpretation from a Court or Judge because it is such a vague term. Undue Hardship can be interpreted many different ways, depending upon the perspective of the Debtor, Bankruptcy Attorney, Judge, or other analyst. The Fourth Part in our Series on Student Loans will review actual Bankruptcy Court, District Court and Supreme Court Cases as they addressed the issue of whether a Student Loan can be Discharged in Bankruptcy. If one however, applies the plain meaning of the Bankruptcy Code, which states the Student Loan must create an UNDUE HARDSHIP FOR THE DEBTOR AND THE DEBTOR’S DEPENDANTS, do this then mean that only a Debtor whom has Dependants may seek a Discharge under the Bankruptcy Code? It is not inconceivable that the intent of Congress was to exclude any Debtors that do not have Dependants from obtaining a Discharge of their Student Loans in Bankruptcy. The State of Florida, for example, has a Head Of Household Exemption, where in most cases, a Creditor cannot garnish the Wages of an Individual who operates as the Head of his or her Household. Could this be the intent of Congress? Without addressing the Court Cases addressing Student Loans in Bankruptcy, I can tell you that it is generally not required that the Debtor have Dependants in order to seek a Discharge of their Student Loans in Bankruptcy. Referring to our Equation, the Debtor and Bankruptcy Attorney can seek a Discharge of a Student Loan under Section 523 of the Bankruptcy Code if the Student Loan creates an UNDUE HARDSHIP on the Debtor or if A, B, or C does not exists. No matter what type of Student Loan the Debtor may have, if UNDUE HARDSHIP can be proven, then the Student Loan should properly be Discharged in Bankruptcy. First, the question becomes, is the Loan an EDUCATIONAL OVERPAYMENT OR LOAN under “A” and under “B” whether it was AN OBLIGATION TO REPAY FUNDS AS AN EDUCATIONAL BENEFIT. In some cases the Bankruptcy Attorney or Debtor may be able to raise cogent arguments that the Debtor did not receive an EDUCATIONAL BENEFIT or that the Loan is not EDUCATIONAL. For example, over the years, this writer, as a Bankruptcy Attorney, has seen numerous Clients who have... --- - Published: 2015-03-18 - Modified: 2015-03-18 - URL: https://www.jayweller.com/discharge-of-student-loans-in-bankruptcy/ Discharge of Student Loans In Bankruptcy: How Obama And The Senate Democrats Proposed Bill Is Much Ado About Nothing Part III in Series By Jay Weller Recently, upon inspiration from President Obama and his Student Bill of Rights, as implemented by Executive Order, a number of Senators in Congress have introduced a Bill called the Fairness For Struggling Students Act of 2015. The main sponsor of the Bill, Illinois Senator Dick Durbin, was joined by his co-sponsors of the Bill, including Mazie Hirono of Hawaii, Kirsten Gillibrand of NY, Brian Schatz of Hawaii, Tim Kaine of Virginia, Barbara Boxer of California, Ron Wyden of Oregon, Elizabeth Warren of Massachusetts, Jack Reed of Rhode Island, Patty Murray of Washington, Richard Blumenthal of Connecticut, Al Franken of Minnesota, and Sheldon Whitehouse of Rhode Island. Mr Durbin issued a statement that “Too many Americans are carrying around mortgage-sized student loan debt that forces them to put off major life decisions like buying a home or starting a family”. Durbin continues, “It’s not only young people facing this crisis, it is parents, siblings and even grandparents who co-signed private loans long ago and are still making payments later. Its time for action. We can no longer sit by while this student debt bomb keeps ticking”. According to Durbin, recipients of Student Loans now owe approximately $165 billion in private Student Loans. Mr Obama , preceding Durbin’s Bill, writes in his President’s memorandum, Student Bill or Rights: College remains an excellent investment, and student loans enable many who could not otherwise do so to access further education. However, there is more work to do to help student repay their loans responsibly. In 2013, college graduates owed an average of $28,500 in Federal and private loans. More than one in eight Federal borrowers default on their loans within three years of leaving school. My Administration has already put in place significant protections that ensure borrowers with credit cards and mortgages are treated fairly. We can and should do much more to give students affordable ways to meet their obligations and repay their loans. This writer’s understanding of the legislation proposed by the twelve Senators is that the new Law would Amend the existing Bankruptcy Code, permitting private student loans to be Discharged in Bankruptcy. The Christian Science Monitor, reacted that the eventual success of the Bill is uncertain, as the Democrat sponsors of the Bill are now members of a Republican controlled Senate. Fortune Magazine further states, that even if the Bill is able to become Law in a Republican controlled Congress, and permits Private Student Loans to be Discharged in Bankruptcy, such private loans only comprise about 10% of Student Loans. The remaining 90% of Student Loans would not be eligible to be Discharged in Bankruptcy. The Consumer Financial Protection Bureau holds that Student Loan Debt totals about 1. 2 Trillion Dollars, which is more than is owed on credit cards and automobile loans, in the United States. The Wall Street Journal writes that total... --- - Published: 2015-03-13 - Modified: 2015-03-13 - URL: https://www.jayweller.com/interpreting-bankruptcy-code-section-523a8-as-dischargeability-of-student-of-student-loans/ Dischargeability Of Student Loans Interpreting Bankruptcy Code Section 523(a)(8) Constructing The Plain Text Of The Bankruptcy Code In Determining Whether A Student Loan Can Be Discharged Or Eliminated In Bankruptcy Part One of A Series By Clearwater Florida Bankruptcy Lawyer Jay Weller Please refer to the Text of the prior Post which repeats, word for word, the Text of the Bankruptcy Code as its applies to Student Loans. Section 523(a)(8) of the Bankruptcy Code defines when Student Loans can be Discharged or eliminated in Bankruptcy. I highlighted the important terms contained in this Bankruptcy Code Section, and no we will essentially outline when Student Loans can be Discharged, according to the plain meaning of the Bankruptcy Code. Plain meaning is important because the proper method of interpreting a Statute, whether it is Bankruptcy Law or the Affordable Care Act, is to first apply the plain meaning of the Statute. If the reader, whether he is a Bankruptcy Attorney or Judge, is unable to ascertain the plain meaning, then he must either attempt to discern the intent of the Lawmakers who created the Statute, in analyzing the Statute. If you take Bankruptcy Code Section 523(a)(8) and place it in outline form it would appear as so: STUDENT LOANS ARE NOT DISCHARGED SUCH STUDENT LOAN CREATES AN UNDUE HARDSHIP FOR THE DEBTOR AND THE DEBTORS’ DEPENDANTS AND IS AN EDUCATIONAL OVERPAYMENT OR LOAN MADE, INSURED, OR GUARANTEED BY A GOVERNMENTAL UNIT OR MADE, INSURED, OR GUARANTEED BY A NONPROFIT INSTITUTION OR ANY PROGRAM FUNDED IN WHOLE OR IN PART BY A GOVERNMENTAL UNIT OR NONPROFIT INSTITUTION OR AN OBLIGATION TO PAY FUNDS RECEIVED AS: AN EDUCATIONAL BENEFIT OR SCHOLARSHIP OR STIPEND OR ANY OTHER EDUCATIONAL LOAN THAT IS A QUALIFIED STUDENT LOAN AS DEFINED IN SECTION 221(d)(1) OF THE INTERNAL REVENUE CODE OF 1986, INCURRED BY THE DEBTOR WHO IS AN INDIVIDUAL This outline is think is much easier to read, and is a demonstration of how Legislatures should write Law. Basically, in order for a Student Loan to be Discharged in a Bankruptcy, the Bankruptcy Attorney on the Debtor’s behalf, or the Debtor representing himself individually, must prove the Student Loan Creates an UNDUE HARDSHIP on the Debtor and the Debtor’s Dependants, OR is NOT “A” OR “B” OR “C”. So, your equation is: UNDUE HARDSHIP + (A OR B OR C) = STUDENT LOAN DISCHARGE In the next Post, we will discuss in more detail, according to the plain reading of the Text of Section 523 of the Bankruptcy Code, how to analyze when a Student Loan may be Discharged in Bankruptcy. --- - Published: 2015-03-11 - Modified: 2015-03-11 - URL: https://www.jayweller.com/what-section-of-the-bankruptcy-code-applies-to-student-loans/ What Does Bankruptcy Code Specifically Say About Student Loans? By Jay Weller Section 11 USC 523(a)(8) of the US Bankruptcy Code is the operative Section in regards to Student Loans. Section 523(a)(8) States STUDENT LOANS ARE NOT DISCHARGED UNLESS: Unless excepting such debt from discharge under this paragraph would impose an UNDUE HARDSHIP on the debtor and the debtor’s dependants, for- (A)(i) an EDUCATIONAL OVERPAYMENT or LOAN MADE, INSURED, or GUARANTEED by a GOVERNMENTAL UNIT or NONPROFIT INSTITUTION; or made under ANY PROGRAM FUNDED in WHOLE or in PART by a GOVERNMENTAL UNIT or NONPROFIT INSTITUTION; or (ii) an obligation to repay FUNDS RECEIVED AS AN EDUCATIONAL BENEFIT, SCHOLARSHIP, or STIPEND; or (B) any other educational loan that is a QUALIFIED EDUCATION LOAN, as defined in Section 221(d)(1) of the Internal Revenue Code of 1986 {26 USC Section 221(d)(1)}, incurred by a debtor who is an individual This is the full text as presented in the Bankruptcy Code, as the Bankruptcy Code refers to the treatment of Student Loans in Bankruptcy. I capitalized sections of the text because I am going to analyze these certain words of the Bankruptcy Code to demonstrate not only when Student Loans are Dischargeable in Bankruptcy, but also to demonstrate to you, how you can logically analyze Statutes and Codes, as written by Legislatures, for your own purposes. In the next Blog Post, we will analyze the Text of the Bankruptcy Code as it applies to Student Loans. --- - Published: 2015-03-09 - Modified: 2015-03-09 - URL: https://www.jayweller.com/treatment-of-automobiles-in-bankruptcy/ Here Are Your Options By Jay Weller Many of the Clients of Weller Legal Group have difficulties presented by their Automobile Loans. Loss of income, or unexpected financial circumstances sometimes leaves a Client delinquent on his Automobile Loan and in danger of Repossession. Sometimes, the monthly payment is too burdensome for the Client to pay, with the attendant other Debts he may have. Bankruptcy can help these Clients in numerous ways. In a Chapter 13 Bankruptcy, or what is referred to as a Debt Consolidation, the Bankruptcy Attorney can sometimes arrange for the Valuation of the Automobile. To Value the Automobile, means the Bankruptcy Attorney arranges, through the Chapter 13 Plan, for the Debtor to pay only the true Fair Market Value of the Automobile, over a period of sixty months. For example, if the Automobile has a Fair Market Value of $8,000 and the Debtor owes $14,000 on the Automobile Loan, then the Bankruptcy Attorney can arrange for the Debtor to pay $8,000 plus a generally reduced Interest Rate through the Chapter 13 Bankruptcy. The remaining $6,000, which represents the Unsecured portion of the Automobile Loan, is generally Discharged in Full through the Chapter 13. In order to Value the Automobile in Chapter 13 Bankruptcy, the Debtor must own the Automobile for more than 910 days. If the Debtor does not own the Automobile for more than 910 days, then he cannot Value it. Even if the Debtor owned the Automobile less than 910 days, then he still may “Refinance” the Automobile in the Chapter 13 Bankruptcy, in which the Bankruptcy Attorney can arrange to lower the Interest Rate to Prime plus 1 or 2. As of the writing of this Article, the Interest Rate generally accepted by the Bankruptcy Court is 5. 2%. The Automobile Loan can be stretched to as must as Sixty Months, which usually lowers the Monthly Payment dramatically, and saves the Debtor a significant amount in Interest. In a Chapter 13 Bankruptcy, if the Debtor is behind on his Automobile Payments, then upon the filing of the Chapter 13, the missed payments or Arrearages, are essentially waived. The Debtor can also elect to simply pay the Arrearages owed on the Automobile through the Chapter 13 Bankruptcy and make regular monthly payments pursuant to the Terms of the Automobile Loan. A final option in Chapter 13 Bankruptcy is to Surrrender the Automobile to the Creditor or Lien Holder, in which case the Automobile is Surrendered in Full Satisfaction of the Debt. In a Chapter 7 Bankruptcy, there are less options regarding Car Loans, but there is a tool available to Bankruptcy Attorneys called Redemption. Redemption means that the Debtor Redeems the Automobile by paying to the Creditor, a single payment that represents the Fair Market Value of the Automobile. For example, if the Debtor owns a Car that has a Fair Market Value of $800 and the Balance on the Automobile Loan is $2,000, then the Bankruptcy Attorney can arrange to Redeem the Automobile by... --- - Published: 2015-03-06 - Modified: 2015-03-06 - URL: https://www.jayweller.com/an-explanation-of-the-mechanisms-of-lien-stripping/ An Explanation Of The Mechanisms Of Lien Stripping By Jay Weller One tool used by knowledgeable Bankruptcy Attorneys is a process called Lien Stripping. Lien Stripping in Bankruptcy permits the Bankruptcy Attorney, on his Client’s behalf, to eliminate or Discharge Second and Lesser Mortgages, meaning other than the First Mortgage. In order to Lien Strip a Second Mortgage, the Fair Market Value of the Debtor’s Homestead must be less than the Balance of the First Mortgage. In such a circumstance, the result is that the Second or even Third Mortgage is considered, according to Bankruptcy Law, to be wholly Unsecured. Lien Stripping is only available as an option under Bankruptcy Law if the Property is the Debtor’s Homestead. The Bankruptcy Attorney cannot Strip the Lien on a Rental Property or a Non Homestead Property. For example, a Debtor owns a Homestead in the State of Florida where the Fair Market Value of the Homestead is $100,000. The Debtor has a First Mortgage on same Homestead with a Balance of $120,000, and a Second Mortgage with a Balance of $25,000. In this example, the Bankruptcy Attorney can Lien Strip the Second Mortgage because, the Balance of the First Mortgage is greater than the Fair Market Value of the Homestead. If performed correctly, the Second Mortgage will be Discharged in the Bankruptcy, meaning there is no longer a Second Mortgage encumbering the Homestead. In the second example, the Debtor owns a Homestead with a Fair Market Value of $100,000 and the Balance of the First Mortgage is $80,000. The Bankruptcy Attorney cannot Lien Strip or Discharge the Second Mortgage because the Balance of the First Mortgage is less than the Fair Market Value of the Homestead. Thank you for reading our Article on Lien Stripping. If you or any of you friends, family or Clients need to file Bankruptcy or need assistance in Matters of Debt, please Contact or Call our Main Office at 727-539-7701 or Toll Free at 1-800-407-3328. The Bankruptcy Attorneys, Jay Weller or Will Brumby, will be happy to assist you in any way possible. --- - Published: 2015-03-04 - Modified: 2015-03-04 - URL: https://www.jayweller.com/in-re-lisowski-florida-bankruptcy-court-decision-grants-separate-exemption-for-mobile-homes/ In Re Lisowski: Florida Bankruptcy Court Decision Grants Separate Exemption For Mobile Homes An Opinion By The Great Bankruptcy Judge, The Honorable Paul M. Glenn By Jay Weller A 2008 United States Bankruptcy Court Decision by the Honorable Paul M Glenn, held that Florida’s Modular Home Exemption which permits Debtors who own a mobile home that is used as their Residence, and is located on leased land, does not implement the Florida Homestead Exemption, but is a separate Exemption, and can be applied under the more favorable Personal Property Exemption. In the Chapter 7 Bankruptcy Case, the Debtor, Richard Lisowski, claimed his mobile home on leased property under Florida Statute Section 225. 05, the Modular Home Exemption. The Debtor also attempted to Claim $4,000 in Personal Property Exempt under Section 222. 25(4) of the Florida Statutes. Generally, in a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy, if the Debtor Claims the Homestead Exemption, he is only entitled to Claim as Exempt, $1,000 in Personal Property. However, the Debtor did not need to Claim the Homestead Exemption because of Florida Statute Section 22. 05 which provides: Any person owning and occupying any dwelling house, including a mobile home as his residence, or modular home, on land not his own or her own which he or she may lawfully possess, by lease or otherwise, and claiming such house, mobile home, or modular home as his or her homestead, shall be entitled to the exemption of such house, mobile home, or modular home from levy and sale as aforesaid. --- - Published: 2014-08-29 - Modified: 2014-08-29 - URL: https://www.jayweller.com/the-coming-crisis-part-vii/ Pension Plans And The Detroit Bankruptcy The Centre for Retirement Research (CRR) report found that in the United States, the States pensions for its employees are 27% underfunded. The total amount of obligations that are underfunded amount to about one trillion dollars. To calculate the one trillion dollar shortfall, CRR used the mathematics used by most States wherein the State uses an annual discount rate of 7. 5% to 8%. The discount rate is an assumption that the pension plan monies that are invested will receive a rate of return of approximately the amount of the discount rate. These additional revenues through investment of pension fund monies means that the State, or more appropriately its taxpayers, will not be asked to fund the shortfall. The problem with the discount rate is it is unrealistic. CCR states that based upon a more realistic discount rate of 5%, the shortfall should be about 2. 7 trillion dollars and the pension programs are about 52% underfunded. New York City has more retired than working officers and police pensions consume more money than police wages. In the State of California, there are more than 20,000 state and local government retirees that receive more than 100,000 dollars per year, and some with pensions exceeding 250,000 dollars per year. Spiking and double dipping schemes by governmental employees have further increased pension debt. While the average pension in California is about $29,000 per year and the average Detroit pension is about $19,000 per year, most private employees could never expect such benefits. Only a small minority of private employees receive pensions, and few employers who agree to pay pensions to their retirees would agree to a full pension after a scant twenty years of employment. --- - Published: 2014-08-28 - Modified: 2014-08-28 - URL: https://www.jayweller.com/the-coming-crisis-part-vi/ Pension and Health Plans in Detroit This is part VI in our series on the Detroit bankruptcy, and pension and health plans for governmental retirees. The approach to the bankruptcy in Detroit has important significance not only to the city of Detroit and its inhabitants, but to the bond market that finances much of many American cities efforts, and to pension plans and other benefits that governmental retirees receive nationally. Detroit is the largest city in the United States to ever file for bankruptcy. The long term debts of the city of Detroit are approximately 18. 2 billion dollars. This equals $27,000 of debt for every resident of Detroit. Property tax revenues in Detroit have decrease about 20% from 2008 and income tax revenues have decreased about 30%. In a city of 700,000 persons, less than 82% have a high school diploma. In Detroit, less than 30% of the jobs in the city are held by Detroit residents. 61% of Detroit residents who are employed, work outside the city. Detroit is a city in bankruptcy. Tax revenues are declining. Services have deteriorated. Detroit seems unable to get its fiscal problems under control, particularly the pension and health benefits its leaders promised its civil servants. In a nutshell, the city of Detroit created and expanded debts that the city’s shrinking and increasingly impoverished residents can not possibly satisfy. Taxes have increased. Services diminished. Detroit becomes a less attractive place to live, work, start a business or continue a business. The population continues to decrease and the downward spiral continues. When a population forgets what forces generate real prosperity in a society, situations like Detroit are created. Detroit is one of many cities and states with similar dynamics. There will be more Detroits. States and cities will be forced to renegotiate and modify the promises made to these governmental workers and retirees. The pension and health retiree disaster is upon us. --- - Published: 2014-08-27 - Modified: 2014-08-27 - URL: https://www.jayweller.com/the-coming-crisis-part-v/ Pension Plans And The Detroit Bankruptcy Please refer to the earlier parts of this series to better understand the context of this article. The City of Detroit is in bankruptcy. Detroit is probably one of the most visible of the cities in the United States that have entered or filed bankruptcy proceedings. The primary issue confronting Detroit and many other large cities are the unrealistic pension and medical benefits with its police, fire and other governmental unions, negotiated with the governmental agencies or politicians that confer such benefits. A rising remark is the statement by citizens that they have three police or fire departments. The first is the one running around on the streets now, and the second and third are long retired. The health benefits enjoyed by governmental employees and retirees in Detroit are out of control even when compared to Detroit’s free spending brethren. Detroit’s health care per retiree are higher than the thirty largest United States cities. That is the cost per retiree and not the overall cost. In Detroit, retiree costs comprise about 66% of the total health care costs for the city. The current workers receive the remaining 33%. In the Detroit bankruptcy, the city may have a better chance of successfully reorganizing its debts if it takes the knife to the medical benefits. The pension benefits are more difficult to cut, even in bankruptcy. Further, the Michigan Supreme Court has found that the Michigan State Constitution has clear and strong prohibitions against reducing pension obligations, but such prohibitions do not apply to medical benefits. This means that more Detroit city retirees would likely seek benefits under Medicaid and Medicare. Guess who gets the honor to pay for that? --- - Published: 2014-08-26 - Modified: 2014-08-26 - URL: https://www.jayweller.com/the-coming-crisis-part-iv/ Pension Plans And The Detroit Bankruptcy This is Part IV in the series on Pension Plans And The Detroit Bankruptcy: The Coming Crisis. Please refer to the prior articles in the series for context. Another possible victim of the bankruptcy plan offered by the city of Detroit is its treatment of individuals with lawsuits against the city. Jessie Payne, a 72 year old Detroit resident. Ms Payne was making her way to a doctors appointment when a Detroit city bus plowed her over, causing serious injuries. Payne eventually secured a judgement against the city in the amount of 3. 5 million dollars, and was about to depart her home to pick up a check, when she received word that the funds would not be available due to the Detroit bankruptcy. Ms. Payne now receives rehabilitation treatments five days per week and will have to wait thirty years to receive a total of about 12% of the judgment she and her attorney procured. A similar fate awaits Dwayne Provience who was incarcerated for more than a decade for a crime he did not commit. Bill Goodman, a civil rights attorney who represents four claimants affected by the bankruptcy, states “The system favors the wealthy and powerful and to some extent, the labor unions”. This statement appears substantially true, especially as addressed to the labor unions, particularly the police and fire unions. Laura Bartell, a professor at Wayne State University, agrees, “The persons or groups that are receiving unfavorable treatment under the bankruptcy plan are people who do not have a strong lobbying position with the city of Detroit”. She continues that, “Everybody who’s gotten more ad had legal leverage with the city”. Considering the generous terms offered by the city of Detroit to its police and fire pensioners and unions, it is obvious why these groups would approve the bankruptcy plan proposed by the city and the other creditors would vehemently oppose. Less obvious is how this bankruptcy plan could possibly succeed. Detroit projects that its return on pension investments should improve to about 6. 75%, providing sufficient monies to continue the pension programs proposed by the city. Many commentators believe that rate of return is unrealistic. Furthermore, if the bankruptcy judge somehow approves or crams down the Detroit bankruptcy plan, the investors in municipal bond markets will likely be hesitant to invest in such devices in the future. What investor would rationally invest in such a device or product, subject to the possibility that that governmental entity will file bankruptcy, pay its pensioners substantially their full pension, and leave bondholders with little or nothing. The Detroit bankruptcy offers ramifications to other United States municipalities that must issue bonds. Either the financing will become progressively more expensive for these municipalities or such municipalities will be unable to secure financing at all. --- - Published: 2014-08-25 - Modified: 2014-08-25 - URL: https://www.jayweller.com/the-coming-crisis-part-iii/ Pension Plans And The Detroit Municipal Bankruptcy Please read the preceding articles of this series on pensions plans and the Detroit municipal bankruptcy to gain a better context and understanding of this article. The plan proposed by the city of Detroit in its municipal bankruptcy in late July of 2014, was accepted by approximately 82% of the Police and Fire Retirement System and by about 73% of the General Retirement System retirees and current Detroit employees. The majority of bondholders disapproved of the bankruptcy plan. Also, insurers of Detroit’s debt, were strongly opposed to the plan. The creditors of defaulted pension certificates of participation or COPs, unanimously opposed the plan. These certificates total approximately 1. 47 billion dollars. These are certificates that guarantee payment of the pension debt. COPs are essentially insurance that such pensions will be paid if the purchaser of such insurance defaults or is unable to pay. Syncora Guarantee Inc and Financial Guarantee Insurance Company, which both guarantee payment of the pension debt, are both adamantly opposed to the Detroit bankruptcy plan offering. The Detroit bankruptcy plan only offers pennies on the dollar the COPs. However, the police and fire retirees will receive pursuant to the plan, their entire pension and only small reductions in the cost of living increases implemented in their pensions. The Detroit bankruptcy offers all other Detroit employees, both current and retired, reduced pension benefits and no cost of living adjustments. It is clear why the majority of the police and fire union participants are in favor of the Detroit bankruptcy plan and the majority of the certificate holders oppose the plan. It is difficult to understand how such a plan could possibly be approved by the bankruptcy judge. There is nothing fair or equitable about the proposal by the city of Detroit. Further, if the COPs are left with little or no compensation, other cities and states will find it more difficult to secure willing investors or the rates paid by such government entities would be certain to increase, due to increased risk. Juliet Moringiello, a law professor at Widener Law School in Pennsylvania, questions whether the bankruptcy judge could use his cramdown powers to implement the plan as proposed by the city of Detroit. The wide differing treatment of creditors in the Detroit bankruptcy plan raise questions as to whether that plan is fair and equitable or feasible. Other private investors, such as purchasers of insured water and sewer revenue bonds and other Detroit government bonds amounting to about 5. 2 billion dollars, are also being offered recoveries of approximately thirty cents on the dollar. The Detroit police and fire are being asked to make almost no concessions. It is easy to see how the plan offered by Detroit is destined for failure. --- - Published: 2014-08-22 - Modified: 2014-08-22 - URL: https://www.jayweller.com/the-coming-crisis-part-ii/ Pension Plans And The Detroit Municipal Bankruptcy Please read Part I of this series on Pension Plans and Municipal Bankruptcy to gain a better context for this and the following blog articles on Municipal Bankruptcy, Detroit, and the coming crisis in governmental pension plans. According to the Chicago Tribune, the City of Detroit proposed a plan to US Bankruptcy Judge Steven Rhodes, in Detroit, that would adjust the approximately 18 billion dollars in debt acquired by the city. The debt acquired by the City of Detroit was made not only through the declining tax base experienced by the City because of the flight of both white and black professional s and businesses from the city, but also through many decades of blatant and obvious mismanagement by the city’s elders. In a municipal bankruptcy, as in a Chapter 13 bankruptcy or a Chapter 11 bankruptcy, the debtor is assigned the task of creating or proposing a plan under which such debtor feels he or it may reorganize successfully its debts. The creditors in each of these types of bankruptcy, in various levels of participation, are given an opportunity to approve or disapprove the terms of the proposed plan. Some creditors, although they may disapprove of the terms of the plan, may still have to comply with its terms. Some creditors, depending on how the debt they are owed is classified, may receive little or none of the money which they are owed. Some creditors may receive relatively generous treatment under such a bankruptcy plan. The Bankruptcy Judge has the ultimate power to cram-down opposition to the plan if he or she finds that the plan does not unfairly discriminate and is equitable and fair to those creditors. The next article will discuss more of the particulars of the Detroit Bankruptcy Plan as proposed in late July of 2014. --- - Published: 2014-08-21 - Modified: 2014-08-21 - URL: https://www.jayweller.com/the-coming-crisis-part-i/ Pension Plans And Municipal Bankruptcy Detroit is in Bankruptcy. Detroit is Bankrupt. As of the date of this article, August 19, 2014, Detroit is the debtor in a municipal bankruptcy. Not only individuals or persons, or corporations, can file Bankruptcy. Cities can also file bankruptcy, and seek its benefits and protections. A major issue in the Detroit Bankruptcy, and a major reason for its bankruptcy, is the pension benefits and medical benefits promised to the civil servants of Detroit, both present and retired. Those in political power with the authority to negotiate or proclaim such benefits, often granted for political expendency, votes, money or other favors, are often long gone by the time the full burden of such benefits hits the cities, states, and federal subjects of such policies. The issue of collapsing government pensions creates many diverging sympathies. The government workers who expect such pension likely will not receive the full benefits promised. The taxpayers, who had no hand in granting such pensions, often are not sympathetic to the government workers’ plight. The pension programs are often much more generous than any retirement offering most private employees or even private employers, could receive. Many government workers are eligible for pension benefits after service of twenty years. Many programs will pay the beneficiaries full salary for the full term of their life, and many programs do not require any contribution from the government employee. A government employee who begins employment at the age of 22, under such programs, can retire with a government provided pension and medical benefits, at the age of 42. Most persons that own or work in private business, could never imagine such a benefit for themselves. Why? Because such a pension scheme typically violates basic principles of economics and finance. The benefits could never have been provided without bankrupting the cities or states for whom the government workers served. No or few private employers could provide such a pension scheme, as to do so would most likely destroy that private enterprise. The politicians and unions who negotiated such terms do not have the same restraints. To spend other peoples’ money is one of the easiest things one can do. It is especially easy when one has the power of the state to forcefully take earnings from taxpayers and business people to perpetuate one’s follies. --- - Published: 2014-08-20 - Modified: 2014-08-20 - URL: https://www.jayweller.com/the-rise-of-the-foreclosure-rescue-companies/ With the many millions of homeowners having difficulty with the terms of their mortgages, there has been created a large number of groups that portend to assist such homeowners in modifying their mortgages. While there are legitimate and well meaning participants, there are also a number of unscrupulous foreclosure rescue companies that are essentially scams. Such bad actors often make unsubstantiated promises such as guarantees that one can retain their home or receive a lower mortgage payment. Weller Legal Group and Jay Weller have been assisting homeowners in seeking home loan modifications for many years. A knowledgeable and dedicated representative employed to assist a homeowner in a loan modification can many times achieve beneficial results for his clients. However, there is no guarantee that any given homeowner will be able to keep his home or receive a loan modification. Before a homeowner enlists with such a bad actor, it is best that he become as fully informed as possible, as to the dynamics and information of loan modification. Whether and what type of loan modification a homeowner may be eligible depends upon a number of factors, including what type of mortgage he has, his income, his reason for delinquency on a mortgage, whether he is delinquent, and a host of other factors. A dedicated homeowner can learn much of this information upon his own initiative. An organization such as Weller Legal Group can well and better assist such a knowledgeable homeowner. Our extensive knowledge of loan modifications can further increase the likelihood the homeowner will receive a beneficial loan modification. Successful loan modifications almost always are dependent upon a dedicated homeowner who is willing to endure the maddening array of document requests by the lender or servicer, and the frustrations that are attendant with working or negotiating with such lenders. Weller Legal Group has knowledge and an attention to detail that is necessary to achieve beneficial results in loan modification efforts. The combination of a dedicated homeowner and a knowledgeable and relentless representative of the homeowner’s interests, typically yields the best results in loan modification matters. --- - Published: 2014-06-28 - Modified: 2014-06-28 - URL: https://www.jayweller.com/the-history-of-debtors-prisons-and-why-it-is-important-to-you-3-of-3/ Debtors Prisons In Early American History Debtor’s Prisons existed in the United States dating from the beginning of Colonization to 1850. Numerous important early political figures were incarcerated throughout the history of debtors prisons, most likely giving the Founders a perspective on the ills of the debtor prison system. William Morris, one of the signors of the Declaration of Independence, was imprisoned from 1798-1801 in a debtors’ prison in Washington, DC. One of his more regular visitors was George Washington. James Wilson, another signor of the Declaration of Independence was incarcerated in a debtors’ prison, at the same time that he was an Associate Justice of the Supreme Court. In the 1800s, particularly with the ending of the War of 1812, and the poor economy, debtor prisons began to balloon with prisoners. Popular sentiment swelled against debtor prisons based upon the large numbers of persons incarcerated, and the continuing development of the Bankruptcy Laws. The Federal Government outlawed the imprisonment of debtors in 1833. --- - Published: 2014-06-27 - Modified: 2014-06-27 - URL: https://www.jayweller.com/the-history-of-debtors-prisons-and-why-it-is-important-to-you-2-of-3/ Debtor Prisons In United States Today In the United States, although there are no Debtors Prisons specifically, a debtor can be imprisoned in numerous circumstances under criminal penalties which are usually imposed monetarily, but for which the debtor is unable to pay. For example, persons can be found in Contempt of Court and imprisoned after nonpayment of garnishments, confiscations, fines, back taxes and child support. Such penalties are framed as Contempt of Court, the rationale given is obstruction, fraud or negligent nonpayment. Many debtors are imprisoned for failure to appear or cooperate in civil debt matters. In the United States today, the concept of a Debtor Prison is usually associated with the practice of imprisoning debtors for failure to pay fees exacted in the criminal court system. A number of United States Supreme Court decisions addressed these issues, including Tate v Short, that held that the 14th Amendment was violated by imposing a fine and then automatically converting the fine into a prison sentence for a defendant unable to pay the fine. In Williams v Illinois, the Supreme Court held that extending or enlarging a prison sentence or punishment because a defendant is too indigent to pay a fine, violates the US Constitution. These decisions were rendered in 1971 and 1970, respectively. Finally, in 1983, the Supreme Court ruled in Bearden v George that the Fourteenth Amendment prevents Courts from terminating probation because of a debtor’s nonpayment of a fine, without first investigating whether the debtor is able to pay such fine and whether there are alternatives to incarceration. The Internal Revenue Service or the Department of Revenue, usually cannot incarcerate debtors for failing to pay their Income Taxes. However, the Federal Government can imprison debtors for what they classify as fraudulent behavior. The Brennan Center For Justice in 2010 conducted a study of the 15 most punitive States, as measured by those States with the highest incarceration rates, in terms as to how those States address debtor issues. The Brennan Center found the main reasons for imprisoning debtors. Debtors are primarily imprisoned for (1) electing imprisonment in situations where imprisonment affords an opportunity to pay Court fines; (2) State Laws that make such debt or fines a condition of probation, supervision or parole, and failure to pay such fines, a condition for imprisonment. The States, however, in light of the Supreme Court decisions, must make a determination whether such defendants or debtors, are sufficiently indigent that they are unable to pay such debts. Many States permit or mandate imprisonment for failure to pay child support debt. Such failure permits imprisonment as a Contempt of Court charge. These States include Florida, Alabama, Indiana, Maryland, Michigan, Missouri, Oklahoma, Pennsylvania, South Carolina, Tennessee, and Washington. Involuntary imprisonment because of child support obligations and “voluntary” imprisonment because of defendants or debtors “electing” prison as an alternative to paying court or governmental fines, appear to be the primary causes for incarcerating debtors in the United States. --- - Published: 2014-06-26 - Modified: 2014-06-26 - URL: https://www.jayweller.com/the-history-of-debtors-prisons-and-why-it-is-important-to-you-part-1-of-3/ Debtors’ prisons have existed for many centuries on this planet, and in fact, many forms of bonded servitude and slavery still exist today. Bonded servitude is practiced in India, and other nations, and slavery in its most brutal forms, is practiced in various parts of Africa. Debtors’ prisons are facilities where persons are imprisoned who are unwilling or unable to pay their debts. Bankruptcy Laws were eventually formulated and enacted in order to betray the harsh penalties imposed upon the populace, usually upon the most poor and powerless of the subject societies. The Bankruptcy Laws in the United States are at least partially derived and influenced by the Bankruptcy and Insolvency Laws that eventually formulated in England. The United States Constitution specifically grants Congress the power to create such Bankruptcy Laws in the United States. It is the writer’s opinion that such Bankruptcy Laws, properly created and protected, serve as an essential right granted to the American people, possibly as important as the Rights enumerated in the Constitution, such as the Right to Free Speech, the Right to Assembly, The Right Against Unreasonable Searches and Seizures, and others. If the Bankruptcy Laws do not protect the US Citizen in his capacity to not be onerously subjected to debt, the eventual result is akin to a Debtor Prison, wherein such Citizens can be forever “enslaved” to debt, and the holders of that debt. The United States does in fact have certain governmental punishments that could be equivalent to Debtor Prisons such as imprisonment for certain persons who are unable to pay certain fines. Although private creditors cannot have you incarcerated for failure to pay a debt owed to them, the gradual and continuing erosion of the Debtors’ rights or protections under the Bankruptcy Code can act as a de facto slavery wherein the Debtor, unable to exorcise certain debts, is subject to the punishments issued by his Creditors. This is a primarily a financial punishment, and should not be equated with slavery in its most brutal sense, but is a close family to bonded servitude. --- - Published: 2014-06-25 - Modified: 2024-12-19 - URL: https://www.jayweller.com/origins-of-bankruptcy-law-in-the-united-states/ The United States Constitution gives Congress the power to establish laws on the subject of Bankruptcy throughout the United States. Congress first exercised this power the Bankruptcy Act of 1800. This act, which virtually copied the existing English law, provided for involuntary bankruptcies and was only available to traders (merchants). The act was repealed three years later in 1803. Two more short-lived federal bankruptcy laws were enacted from 1841 to 1843 and from 1867 to 1878. A permanent federal bankruptcy law would not go into effect until 1898. Therefore, states were free to make their own bankruptcy laws without federal restriction for the vast majority of the first hundred years after the constitution was ratified. The Bankruptcy Act of 1898 marks the origins of bankruptcy law legislation in the United States. Unlike many prior laws in England and America, the Act provided for both voluntary and involuntary bankruptcies. Furthermore, the Act allowed debtors a discharge for most kinds of debt. Voluntary bankruptcy was allowed for everyone, not just traders. Although the Bankruptcy Act signaled the beginning of the most liberal debtor treatment in United States history, much of the law was directed not at debtor relief, but at facilitating the distribution of the debtor’s property to creditors. Amendments were made to the Act after the Great Depression set in that made the law friendlier to debtors. In 1938, the Chandler Act was passed which organized the bankruptcy code into the various Chapters (for example, Chapter 7 or Chapter 13) that are still in existence today. The Bankruptcy Reform Act of 1978 was the first comprehensive reform of bankruptcy law since the Chander Act of 1938 and established the Bankruptcy Code which is still in use today. Under this reform, bankruptcy judges were granted broader jurisdiction and greater use of Chapter 13 bankruptcies, known as wage-earner bankruptcies, was encouraged. In 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act was made into law. This Act made substantial changes to existing bankruptcy law including the requirement that debtors obtain credit counseling in the 180 days before filing bankruptcy and the requirement that Chapter 7 debtors qualify under the “means test. ” If you are considering filing a bankruptcy seek experienced counsel to advise you of your options under the new law. --- - Published: 2014-06-24 - Modified: 2014-06-24 - URL: https://www.jayweller.com/bankruptcy-in-england/ Bankruptcy law in England was once quite harsh. Bankruptcy was considered a crime and people who could not pay their debts were thrown into debtors’ prison or had their ears cut off. In fact, the first legislation dealing with bankruptcy in England was the Statute of the Bankrupts in 1542. One purpose of this law was to prevent people who owed money from escaping England. Only creditors could commence a bankruptcy proceeding. This law aided in the collection of debts and did not provide relief to debtors. The Statute of the Bankrupts did not discharge one’s unpaid debts. The concept of a discharge in bankruptcy was not introduced until 1705 with the passage of the Statute of Anne. That law allowed for the discharge of debt so long as one cooperated with the creditors in the bankruptcy. However, the Statute of Anne allowed for the death penalty for fraudulent bankruptcies. Changes in the laws dealing with corporations would have a profound effect on bankruptcy in England. Before 1844, companies could not be created without a royal charter in England. Also, if corporations went broke then creditors could sue the shareholders to pay of the company’s debts. By 1856, shareholders’ liability was limited to the amount of stock they owned in a particular company (you could lose the stock but not be sued), and royal charters were no longer required to set up companies. These new laws were consolidated in the Joint Stock Companies Act of 1856 and established the modern law of corporate insolvency. Under the new system, a company could go bankrupt and there would be no one creditors could collect from. This was a dramatic shift away from viewing bankruptcy as a criminal proceeding. However, this form of insolvency was limited to traders (merchants). In 1869, England passed laws allowing all people to file for bankruptcy and significantly limiting the ability of creditors to have debtors thrown in prison. For the first time in England’s history, bankruptcy afforded relief from creditors as opposed to being a remedy for creditors. --- - Published: 2014-06-23 - Modified: 2014-06-23 - URL: https://www.jayweller.com/bankruptcy-in-the-ancient-world/ Bankruptcy is a concept that did not always exist. For instance, in Ancient Greece there were no bankruptcy laws. If a person was unable to pay his debts, the person, as well as his immediate family, would be forced into slavery until the debt was worked off. Like the Ancient Greeks, the first known laws of the Ancient Romans punished those who could not pay their debts harshly. If a person could not pay an acknowledged debt then that person could be cut into pieces, or sold as a slave. Later on, Ancient Rome developed laws dealing with debt that were much less severe. These laws are the ancestors of our modern bankruptcy statutes. Religious texts dealt with those who owe debts as well. The Old Testament mandated the forgiveness of all debts owed by community members in every seventh year. Foreigners’ debts were forgiven in the Year of Jubilee which occurs every fifty years. The Quran’s second chapter states that an insolvent person should be given time to pay his debts. Bankruptcy is a concept that was documented early on in East Asia also. The Yassa, a code of law created by Genghis Khan, mandated the death penalty for anyone who became bankrupt three times. --- - Published: 2014-05-20 - Modified: 2014-05-20 - URL: https://www.jayweller.com/chapter-13-case-permits-cramdown-of-mortgages/ Debtors In Bankruptcy in Tampa Area May Pay Only The Actual Value Of Their Homestead In Bankruptcy Provided Their Mortgage Terminates Before Five Years The 11th Circuit of the United States Court Of Appeals Ruled in American General Finance versus Richard W Paschen that the plain language of the Bankruptcy Code allows Debtors in Chapter 13 Bankruptcy to pay only the Secured Value or Fair Market Value of their Residential Property through the Chapter 13 Plan. The Unsecured portion of the Mortgage, which is the difference between the balance of the Mortgage and the Value of the Home, is treated as any other Unsecured Debt or Creditor, in the Chapter 13 Bankruptcy. This Decision by Judge Wilson applies only if the Mortgage terminates before the five year Chapter 13 Plan. For example, if a Debtor has a Homestead in Florida that has a balance of $100,000 and the same property has a Fair Market Value of $30,000, and the Mortgage is a Short Term Loan of four years, the Debtor may Cramdown or pay only the Secured amount of $30,000 through the Chapter 13 Bankruptcy over a period of five years. The Unsecured portion of the Mortgage, which is $70,000, is treated as any other Unsecured Creditor in Bankruptcy. If the Unsecured Creditors are to receive no monies under the Chapter 13 Plan, then the Unsecured portion of the Home or Residential Property is also entitled to no monies. This Cramdown of Residential Properties is permitted pursuant to Bankruptcy Code Section 1325(a)(5). --- - Published: 2014-05-08 - Modified: 2014-05-08 - URL: https://www.jayweller.com/trustee-duties-bankruptcy-part-3/ Part Three: Duties Of Trustee As Pertains To Personal Injury Lawsuits And Settlements What are the Bankruptcy Trustee’s Duties when there is an active Personal Injury Lawsuit during the pendency of a Bankruptcy? Bankruptcy Code Section 330, Section 326, Section 328, and 329, is one of the clearer and better written portions of the code, and it clearly spells out the duties of the Bankruptcy Trustee and the Personal Injury Attorney, who is representing the Debtor in the Personal Injury matter. The Duties of the Trustee and the Personal Injury Attorney are largely aligned, as both parties represent the Bankruptcy Estate, and both parties have a Fiduciary Duty, in particular the Trustee, that all Personal Injury Proceeds are preserved and accounted for. Bankruptcy Code Section 330(a)(1) clearly states that only after Notice and a Hearing may the Professional Person or Officer, or in this case the Personal Injury Attorney, receive compensation for services performed. This means that the Personal Injury Attorney may not take any monies from the completion of the Personal Injury Lawsuit, without the approval of the Bankruptcy Judge. Bankruptcy Code Section 327 states that the Trustee is given the responsibility of hiring the Personal Injury Attorney. The Bankruptcy Judge must give approval to the Application or Motion To Employ The Professional Person, or the Personal Injury Attorney. The Motion can be denied if the Personal Injury Attorney holds an interest that is adverse to the Bankruptcy Estate. Both the Personal Injury Attorney and the Bankruptcy Trustee have the Duty to represent and preserve the monies to be derived from the Personal Injury Lawsuit, as such monies are part of the Bankruptcy Estate. Our next discussion will be on what Liability the Bankruptcy Trustee has if he violates the Duties enumerated in Parts One, Two and Three of our discussion. I will give you a hint; in every Jurisdiction, the Bankruptcy Trustee is liable for Willful Violations of his Duties. --- - Published: 2014-05-07 - Modified: 2014-05-07 - URL: https://www.jayweller.com/trustee-duties-bankruptcy-part-2/ Part Two: Trustee Duties In Bankruptcy The Duties of the Chapter 7 Bankruptcy Trustee and the Chapter 13 Bankruptcy Trustee are substantially similar but there are some minor differences. The Chapter 13 Bankruptcy Trustee under Bankruptcy Section 1302(b)(4) must, in addition to his Duties enumerated in Part One of our discussion, advise, other than on legal matters, and assist the Debtor in performance under the plan, and ensure that the Debtor begins to make timely payments as required under the Chapter 13 Bankruptcy Plan. --- - Published: 2014-05-06 - Modified: 2014-05-06 - URL: https://www.jayweller.com/trustees-duties-bankruptcy/ Part One: Trustees Duties In Chapter 7 Bankruptcy And Chapter 13 Bankruptcy The Duties of the Chapter 13 Trustee and the Chapter 7 Trustees Duties in Bankruptcy are largely similar. Bankruptcy Code Section 1302(b)(1) states that the Chapter 13 Trustee must perform the duties specified under Bankruptcy Code Sections 704(2), 704(3), 704(4), 704(5), 704(6), 704(7), and 704(9). These Sections of the Bankruptcy Code govern both Chapter 7 Bankruptcy Trustees and Chapter 13 Bankruptcy Trustees. Bankruptcy Code Section 704(2) states that the Trustee must be accountable for all property received, 704(4) mandates that the Trustee must investigate the affairs of the Debtor, 704(5) orders that the Trustee, in cases in which a purpose will be served, examine Proof Of Claims and Object where appropriate. The Bankruptcy Trustees must also issue a Final Report and Final Accounting with the Bankruptcy Court and the United States Trustee. Both the Chapter 7 Bankruptcy Trustee and the Chapter 13 Bankruptcy Trustee must also file certain Notices regarding Child Support Obligations. --- - Published: 2014-04-25 - Modified: 2014-04-25 - URL: https://www.jayweller.com/can-student-loan-borrower-contest-tax-offset/ Grounds To Fight The Government When They Seek To Take Your Tax Refund To Pay Student Loan Debt There are a number of Defenses that Student Loan Borrowers can use if the Department of Education or its Guaranty Agencies attempt to take your Tax Refund through a Tax Offset, in order to Collect on a Student Loan Debt Obligation. These Defenses Include: 1. Cases in which the Student Loan Borrower qualifies for a False Certification Discharge based upon Ability To Benefit, Unauthorized Signature, or Disqualifying Condition, and the Student Loan Borrower has a completed discharge form; 2. Student Loan Borrower qualifies for a Closed School Discharge and has a completed discharge form; 3. Student Loan is not enforceable because of Forgery, Alteration of Loan Documents or School Related Defenses; 4. Student Loan Borrower is Partially or Permanently Disabled; 5. Student Loan Borrower has filed for Bankruptcy, either Chapter 7 or Chapter 13 Bankruptcy and the Bankruptcy Case is still open OR the Debt was Discharged in Bankruptcy; 6. The Student Loan Borrower has entered into an Agreement for Repayment with the Department of Education or the Guaranty Agency, and is making such payments according to the Agreement; OR 7. The Student Loan Borrower has either Repaid the Student Loan OR the Social Security Number is not correct, and the Individual does not owe the Student Loan. --- - Published: 2014-04-18 - Modified: 2024-12-19 - URL: https://www.jayweller.com/seizure-tax-refunds-collect-federal-student-loans-part-ii/ Notice Requirements Under Tax Refund Offset Program; Say What? By Jay Weller Under 31 USC Section 3720A(b), the Department of Education, through its Secretary, can refer a Debt for Offset only after having complied with certain procedures. The holder of the loan must mail written notice to the Borrower’s last known address, as determined by the Department of Education or the Guarantor. The Courts that have heard Notice Issue Cases, have ruled that Actual Notice is not required. The Collector must only use Reasonable Means to provide Notice. In addition, if the Department of Education provides initial Notice of an intent to Offset the Tax Refund of a Student Loan Borrower in Default, then subsequent Notice is not required to Offset further Tax Refunds. Some of the more notable cases involving the Notice Requirement and what constitutes Reasonable Means are Glover v Brady, a 1994 New York case in which the Court ruled that no violated existed when the letter was mailed twice to the last known address, and Setlech v United States, a 1992 New York case in which the court ruled that using a last known address from a database that had the Borrowers’ last filed tax return as its listing, also did not violate Notice requirement. --- - Published: 2014-04-17 - Modified: 2024-12-19 - URL: https://www.jayweller.com/seizure-tax-refunds-collect-federal-student-loans/ The Federal Tax Refund Offset Program Unleashed! The Federal Tax Refund Offset Program involves a complete seizure of all tax refunds that are due to debtors who are in default on their student loans. The Program also permits the seizure of monies due debtors through Special Payments such as economic stimulus monies. The Federal Statute allows these offsets, even for debts that are being administered by or collected by, a third party, or private party, acting on behalf of the Federal Government. This same Federal Statute applies to Guarantors and the Department Of Education. Each State has their own State Exemptions that mandate that certain Assets or Property or Wages, are Exempt, or protected from Attachment, Seizure or Garnishment by Creditors. Even if State Exemptions apply, at least one Court in the Eleventh Circuit, Overturned a Lower Court Ruling that Alabama’s Exemptions protect against certain Seizures by the Department Of Education. If you live in the Tampa Bay Area, the Eleventh Circuit governs on Federal matters. --- - Published: 2014-04-16 - Modified: 2014-04-16 - URL: https://www.jayweller.com/cramdown-mortgages-principal-residences-bankruptcy/ Argument For Allowing Debtors To Pay Secured Value Of Homestead Through Chapter 13 Bankruptcy For Debtors who file Chapter 13 Bankruptcy, the Bankruptcy Code permits them to Cramdown or pay only the Secured Value of Fair Market Value of an Investment Property or Non Homestead Property through the Chapter 13 Bankruptcy Plan. However, Bankruptcy Code Section 1322(b)(1) states the “plan may modify the right of holders of secured claims, other than a claim secured only by a security interest in real property that is the debtor’s principal residence... ”. That means that a Debtor filing Chapter 13 cannot modify the claim or Mortgage on his Principal Residence may do so for any other type of secured claim. Supposedly, Congressional reasoning behind this Bankruptcy Section was that Lenders who furnish loans to consumers for the purchase of a Principal Residence are providing an essential service for which such Lenders are to be given special protections. However, anyone familiar with the destructive economic forces bestowed upon the United States and in States such as Florida, in particular, probably have a different view of the service provided by many of the Home Lenders. Predatory loans, unfair lending practices, and other devices employed by such Lenders, combined with other economic forces, sent the United States economy into one of its darkest economic periods. The Borrowers did have a hand in this economic imbroglio. However, the chief villains, in my opinion, were the Lenders, and a Federal Reserve that thought it wise to continually pump up the housing market, to disguise major systemic problems with the US economy. Rather than grant a trillion dollar bailout to such Lenders, a better solution would have been to allow Borrowers to Cramdown their home mortgages through a Chapter 13 Bankruptcy. Fewer houses would have been lost to Foreclosures, fewer houses would be sitting vacant and in such disrepair that the only remedy is to bulldoze them. The availability of the Cramdown on Home Loans would also provide a guard against further irresponsible lending. Section 1322(b)(1) states a Debtor may not modify a claim secured ONLY by a security interest in real property that is the Debtor’s primary residence. However, in many cases, such loans are not secured ONLY by a security in the Borrowers personal residence, but the Borrower is also required to pledge personal monies or personal property in terms of cash, to provide escrow funds, for taxes and insurance. In such cases, the claim is secured both by the personal residence and these cash funds. In such cases, according to the plain language of Section 1322, the Debtor should have the opportunity to Cramdown the Home Loan. Also, most Home Mortgages also require that the Borrower sign a personal guarantee that if the personal residence is Foreclosed upon, the Lender may pursue the Borrower for a Deficiency on the difference between the balance of the Loan and the proceeds received from the eventual sale of the residence. In such cases, an argument can be made that... --- - Published: 2014-04-09 - Modified: 2014-04-09 - URL: https://www.jayweller.com/current-landscape-loan-modifications-foreclosures/ Resets May Lead To Higher Loan Modification Defaults By Jay Weller According to The Mortgage Monitor Report by Black Knight Financial Services for February, 2014, about 95% of rate reduction modifications are still facing resets. Although Loan Modifications have been declining for more than a year, Loan Modifications through the Home Affordable Modification Program (HAMP), a program under the jurisdiction of the Federal Housing Administration, have been increasing, largely because of modifications the FHA made to increase eligibility of Homeowners. Black Knight Financial Services claims that the majority of the Resets are Controlled Resets, which should not cause dramatic changes to Homeowners’ monthly mortgage payments in the near future. Mortgage Modification defaults are about 30% higher for Borrowers who have Negative Equity or are underwater, in contrast to Borrowers with Positive Equity. Black Knight also reported that the Consumer Financial Protection Bureau has promulgated new rules regarding Foreclosures, wherein a Lender cannot Foreclose unless the Borrower is more than 120 days delinquent. Foreclosure Sales are now at the lowest rate since 2007. The States with the lowest percentage of delinquent Home Loans are Colorado, Montana, Arkansas, South Dakota and North Dakota. The States with the highest percentage of delinquent Home Loans are Mississippi, New Jersey, Florida, Louisiana and New York. --- - Published: 2014-04-08 - Modified: 2014-04-08 - URL: https://www.jayweller.com/student-loans-burdensome-debt/ Student Loans Increasingly Come With Lesser Returns And More Burdensome Debt By Jay Weller The Federal Reserve recently reported that less Consumer Loans have reached delinquency than in recent years. This trend is not true for Student Loans where delinquencies continue to climb, and Loans are made without consideration of a Student’s ability to pay. Beginning in 2003, the New York Fed has been examining files procured from Equifax to analyze the dynamics involved with Student Loans. Prior to 2009, young people with Student Loans were more commonly to own an automobile, have car loans, make more money, and have better credit than young people without Student Loans. However, Wilbert van der Klaauw, the Senior Vice President of the New York Fed Research Group, says now that dynamic has been completely reversed. Young people with Student Loans are now less likely to have a car loan, have the capability to attain a home loan, and have worse credit scores than their compatriots without Student Loans. They are also more likely to be living with their parents. The 2013 New York Fed Report also found that 11. 5 percent of Student Loans are at least 90 days in default versus 9. 5 percent for Credit Card Debt, which historically had the highest default rate. Despite this high default rate on Student Loans, the rate conceals the “real” default rate, because almost have the Student Loans outstanding do not require a payment, either because the Students are still matriculated or the Students have somehow deferred the Student Loans. It is clear that despite the dramatically escalating costs of a post secondary education, such an education is bringing typically smaller and smaller returns. Partially the cause of this is the Students themselves who choose areas of study that do not have much in terms of job opportunities, such as English Literature or Law, versus Engineering and Mathematics related studies. The colleges and universities that are primarily entrusted with making Student Loans generally have no underwriting standards and scant limits on how much a Student can borrow in Student Loans. One solution may be achieved by holding the Colleges responsible if a substantial number of their former students default on their student loans. If the Colleges were forced to pay a penalty for high Student Loan default rates among their students, they would likely be more careful in the programs and curriculums they offer. Conversely, Colleges with low default rates could be rewarded for their efforts through financial rewards and perhaps scholarships. One factor that furthers the angst associated with Student Loans is the strong enforcement capabilities the Lenders and Federal Government has to collect from Borrowers. Bankruptcy will not eliminate Student Loans, except in limited circumstances. The Federal Government can take Borrowers’ income tax refunds and garnish their wages. Unfortunate parents who guaranteed their childrens’ Student Loans can have monies taken from their Social Security. --- - Published: 2014-04-08 - Modified: 2024-12-19 - URL: https://www.jayweller.com/clampdown-on-payday-loans/ PayDay Loans Under Increased Scrutiny From Federal And State Governments By Jay Weller Pay Day loans, although easy to procure, usually carry with them extremely high interest rates and burdensome terms and fees. Often Borrowers are caught in a mire where they need to continually borrow from such Lenders to pay their essential bills. Recently, the Attorney General of Illinois, Lisa Madigan, accused on such Lender of misleading Borrowers who procured expensive loans that come bundled with insurance products that were not needed or useful. Such insurance promises to make payments on behalf of the Borrower if he is unable to make payments because of loss of employment. However, such insurance was never paid to any of the insured. In fact, the insurance scheme is merely a devise that allows the Lender, All Credit Lenders, to skirt the Illinois State Usury Law that limits the interest a Lender may charge to 36%. Other Lenders circumvent the Usury Laws by granting the Borrowers more time to repay the loans, or by issuing Open Ended Loans that do not come with a fixed period of repayment. The Consumer Financial Protection Bureau is investigating a number of Lenders offering Short Term Loans throughout the United States. Among these is World Acceptance Corporation. Prosecutors in 21 States are also investigating Lenders with connections to Native American tribes. The Lenders use these connections to contend that they are immune from Federal and State Laws because of the sovereign status given the tribes. Investigators, including Benjamin Lawsky in New York, are also focusing on the Lead Generators who sell leads to the Pay Day Lenders. --- - Published: 2014-04-08 - Modified: 2014-04-08 - URL: https://www.jayweller.com/credit-card-fraud/ How Do I Reduce The Chance Of Becoming A Victim Of Credit Card Fraud? By Jay Weller Although the Credit Card companies are generally behind the efforts of fraudsters in preventing Credit Card fraud, there are some things you, as a Consumer, may do to stymie the efforts of these miscreants. For example, Capital One customers can activate email or text alerts when such customers balances exceed a certain limit, when a transaction happens or the customer does not have sufficient funds in their bank account. Citibank and Bank of America both offer one time use credit cards for internet shoppers. Another option is to have one bank account for daily spending and another debit card for recurring payments. Then destroy the debit card for the latter account, and there is less worry of a thief compromising that account. A company called Malauzai Software designed an on/off switch wherein credit card users could turn off their credit cards after each use. The service became so popular that now more than 70 or 80 institutions, mostly small banks and credit unions, now offer this service. In the coming months, more Credit Card and Debit Card issuers will be offering cards with microchips that provide a unique code when the customer uses the card in person. After October 1, 2015, Retailers that are not equipped to read the microchip cards will be liable for certain frauds that may result. If the Retailer has the proper equipment but the bank has not issued a microchip Credit Card, the bank will be liable. Another process Credit Card customers can expect to see is a process called Tokenization, where the Credit Card customer will be required to input a code received by text message. --- - Published: 2014-04-08 - Modified: 2024-12-19 - URL: https://www.jayweller.com/overdraft-fees/ Bank Overdraft Fees At Record High By Jay Weller The average fee for Overdrafts, which is defined as withdrawing more more a checking account than a Customer has in their account, has been increasing to thirty dollars in 2013, an increase from twenty nine dollars in 2012 and twenty six dollars in 2009, according to an investigation by Moeb Services, Inc, of 2890 Credit Unions and Banks. The Federal Reserve in 2010 prohibited Banks from automatically penalizing Customers for Overdrafts. The Dodd-Frank Law of 2011 decreased the Debit Card fee large Banks were allowed to charge Merchants. This has caused a decrease in revenue for the Banks and they are trying to make up the difference through increase Overdraft fees. Banks are now increasing Overdraft fees and pushing other services where such fees can be incurred, with the intention of creating a large group of Customers who can incur such fees. There were 7. 1 Overdraft occurrences per Customer last year, and Overdraft fees comprise the larger portion of fees that are generated by Banks from checking accounts. Banks earned 31. 9 billion dollars in Overdraft monies in 2013, as opposed to 32 billion in 2012. The Federal Regulation in 2010 mandates that Banks obtain permission from Customers in order to allow Overdrafts on Debit Card and ATM transactions. However, Overdraft fees tied to checks and some online bill pay accounts do not require Customer approval. --- - Published: 2013-09-23 - Modified: 2024-12-23 - URL: https://www.jayweller.com/other-services/ Family Law Personal Injury Social Security --- - Published: 2013-09-23 - Modified: 2024-12-23 - URL: https://www.jayweller.com/family-law/ Contact us to discuss family law legal representation and find out what your options are today. Dissolution of Marriage In Florida In Florida, the proper legal description of Divorce is Dissolution of Marriage. Florida is a State that does not require Fault as a basis or grounds for Divorce, or Dissolution of Marriage. In order to initiate a Regular Dissolution Of Marriage, one must file a Petition for Dissolution Of Marriage in the County in which one or the other party resides, or where the married parties last lived together. The Petition must allege that the Marriage is Irretrievably Broken, and must list the demands that the Petitioner is requesting of the Court. Within twenty days of receiving Service of the Petition for Dissolution Of Marriage, the Respondent must file an Answer with the Court, and may file a Counter Petition for Dissolution Of Marriage, that may list additional matters that the Respondent would like the Court to hear. A Simplified Dissolution Of Marriage occurs generally when both Parties are more amicable and agreeable as to the Issues in the Dissolution. A Simplified Dissolution Of Marriage requires that both Parties consent to the Simplified Procedure. Second, there cannot be any Minor Children under the age of eighteen, or any Dependent Children. The Wife may not be pregnant. One of the Parties must have Resided in the State of Florida at least six months. The Parties must agree on how Assets and Property and Debts of the Marriage are to be distributed. Neither of the Parties can be seeking Alimony and the Marriage must be, in the opinion of both parties, Irretrievably Broken. Click through the frequently asked questions below to learn more about each family law topic. --- - Published: 2013-09-23 - Modified: 2024-12-23 - URL: https://www.jayweller.com/personal-injury/ If you are injured while visiting someone else’ property, you might have what is constantly referred to as a “slip and fall” case. A slip, trip, and fall case is a type of premises liability claim. Property owners have a legal obligation to provide a reasonably safe environment to people who are lawfully on their property. When they fail in this duty and someone i injured, the property owner is liable for damages, including the victim’s medical bills, pain and suffering, lost wages or income, disability, and disfigurement. Property owners are responsible for the safety of those who pass through their premises. This means they need to clean up spills, provide well-lit walkways, prevent elevator accidents, and put up signs warning of any potential hazard. According to Florida premises liability laws, the property owners may be held liable for any injury caused by unsafe conditions on their premises. A Florida slip and fall accident attorney can build a lawsuit against the property owners and get compensation for injuries resulting from unsafe premises. Injuries commonly occur at parking lots, restaurants, supermarkets and shopping malls. Inside a building, dangerous conditions such as torn carpeting, abrupt changes in flooring, poor lighting narrow or poorly maintained stairs, or a wet floor can cause victims to slip, fall, and become seriously injured. Outside of a building, victims may slip, trip, and fall because of a hazard such as a pothole. If you suffered serious injuries from a slip and fall or assault on someone else property, you may have a premises liability claim. The attorneys at Weller Legal Group, Inc. are here to lend their experience and knowledge to your case. Workers Comp Personal Injury Law Accidents on the job can happen at any time. A fall from a ladder or scaffolding. A repetitive motion injury such as carpal tunnel syndrome. An accident caused by faulty or poorly maintained equipment. Employees can suffer injuries in any type of workplace. And, while many jobs involve dangers that are inherently unavoidable due t their location or the tasks involved, every effort should be made to ensure worker’s safety. Unfortunately, accidents do happen. When they do, they can cause serious injuries. If you have a Workers’ Compensation claim you should talk to a Workers Compensation Lawyer as soon as possible, even if you think you do not need a Workers Compensation Lawyer. The reason is simple; there are many things you need to know about the law, the rules, the benefits and your legal rights. Even if you decide not to hire a lawyer you still need to know some thing that your employer, the insurance adjusters, your doctors or your friends may not tell you. Weller Legal Group, Inc. can help you manage your claim. We can help you get your Workers’ Compensation checks started, help increase your Workers’ Compensation Checks if your comp has been incorrectly calculated by the insurance company and help prevent your Worker’s Compensation Checks from being unexpectedly stopped by the insurance carrier.... --- - Published: 2013-09-23 - Modified: 2024-12-23 - URL: https://www.jayweller.com/social-security/ If you are in need of representation to assist with you any social security legal issue in the Tampa Bay area please contact us today so that we may further assist you. In general, Social Security benefits are Exempt from Creditors in the State of Florida, and the United States, but there are some exceptions where Social Security benefits are not Exempt, or protected from Creditors in the State of Florida, or protected from the Bankruptcy Trustee or Creditors, in Bankruptcy Proceedings. One exception where Social Security benefits are not Exempt from Creditors in the State of Florida, or from the Trustee in Bankruptcy is where the Debtor commingles Social Security funds, with other monies, in a bank account. The Trustee or Creditor can argue that the Debtor has no means to differentiate between what was the Exempt portion of the bank account, namely Social Security benefits, and what portion of the bank account represents monies that are not Exempt, such as monies earned by a non Head of Family, in the State of Florida. If you receive Social Security benefits and other forms of monies, that are not Exempt or protected under the laws of the State of Florida, then it is generally advisable that you keep monies from Social Security benefits separate from other forms of monies that are not Exempt under Florida State Law. Commingling of Social Security monies and other monies in a single bank account can render the bank account unprotected against Creditors and possibly a Bankruptcy Trustee in a Bankruptcy. You may wish to further have the bank account titled as a Social Security Account. If you have a bank account in the State of Florida in which you deposit your Social Security check and it was garnished by a Creditor, or the Bankruptcy Trustee in Bankruptcy wants some or all of the proceeds of the bank account, you have numerous manners in which you can fight back! Even if the bank account is found to be unprotected or not Exempt under Florida or Federal Law, as Social Security Benefits, under Florida Law you can claim the Florida Wildcard Exemption. Social Security benefits are generally Exempt from Garnishment from Creditors or Seizure by a Bankruptcy Trustee in Bankruptcy. However, there are exceptions to this general rule. Social Security benefits are not Exempt from Garnishment for Debts owed to the US Treasury; Child Support; Alimony If the Creditor is pursuing a Debtor for a type a Debt other than that listed above, the Creditor will not Serve the Garnishment upon the Social Security Administration because the Social Security Administration is only enjoined to recognize a Garnishment for one of the above types of Debts. The Creditor likely will Serve the Garnishment upon the bank in which you deposit your Social Security check. If the Creditor Garnishes your bank account or is able to place a freeze upon the monies in the bank account, then you have the Right under Florida Law and Federal Law, to... --- - Published: 2013-07-29 - Modified: 2013-07-29 - URL: https://www.jayweller.com/estate-planning/ Revocable Trusts Irrevocable Trusts Pour-Over Trusts Trust For Minors Living Wills Health Care Surrogate Durable Power Of Attorney Probate Simple Administration Formal Administration Disposition Of Personal Property Without Administration Wills Simple Will Will With Pour-Over ProvisionWill Establishing A Trust Do Not Resuscitate Orders (DNRs) Estate Planning In matters of Estate Planning Law, we offer Legal Representation in the areas of Revocable Trusts, Irrevocable Trusts, Pour Over Trusts, Trusts For Minors, Living Wills, Health Care Surrogate, Durable Power Of Attorney, Probate, including Simple Administration and Formal Administration, Wills, Disposition of Personal Property Without Administration, Wills With Pour-Over Provision, Wills Establishing A Trust, and Do Not Resuscitate Orders (DNRs). A. REVOCABLE TRUSTS The laws of most states permit the formation of a variety of Revocable Trust instruments, such as the AB “Family” Trust, QTIP Trust, Crummey Trust, and Retained Interest Trusts such as GRITS, GRATS, GRUTS, and QPRTS. These Trusts all the Trust Creator or Grantor to contribute Assets for the benefit of others to be managed by a Trustee. While it is also possible for the Creator to be either the Trustee or the Beneficiary of the Trust he or she has created, such dual capabilities will usually destroy the Trust’s ability to shelter its Assets from Creditors of the Grantor. Contact us immediately to discuss your estate planning needs and options. B. IRREVOCABLE TRUSTS Unlike a Revocable Trust or Revocable Living Trust, Assets transferred to an Irrevocable Trust, cannot be changed or dissolved by the Grantor once it has been created. The Grantor no longer owns the Assets. With an Irrevocable Trust, all of the property in the Trust, plus all future appreciation on the property, is out of your taxable estate. That means your ultimate estate tax liability may be less, resulting in a more efficient way to transfer your accumulated wealth to your Beneficiaries. Property transferred to your Beneficiaries through an Irrevocable Trust will also avoid Probate. As a bonus, property in an Irrevocable Trust may be protected from your Creditors. The Irrevocable Trust device is utilized for avoiding the Medicare nursing home spend-down provisions whereby if the elderly has to enter a nursing home he must first spend all his money until he does not have any money left. C. POUR-OVER TRUSTS A Pour-Over Trust usually contains language that explains how the Trust Assets should be distributed when the donor becomes incapacitated or passes away. Unless incapacitated, one cannot receive or distribute Assets from the Pour-Over Trust without revoking it. Unlike a Will, a Pour-Over Trust is not administered by a Court, so its contents and terms are not part of the public record. However, some Assets may go back to the Estate upon the Grantor or Trustee’s death, and require probate. D. TRUST FOR MINORS Please contact us for more information. E. LIVING WILL An Advance Health Care Directive, also known as a Living Will, Personal Directive, Advance Directive, or Advance Decision, is a set of written instruments that a person gives that specify what actions... --- - Published: 2013-07-29 - Modified: 2013-07-29 - URL: https://www.jayweller.com/corporate-law/ Corporate Law Corporations Limited Liability Company (LLC) Professional Limited Liability Company Corporate Trusts Non-Profit Corporations A. Corporations Corporate Law There are two main types of Corporations. A “C” Corporation is a separate entity from its individual owners. A Corporation provides its shareholders with protection from liability and protection from personal responsibility from contracts, debts and other obligations. Corporate profits are taxed at the corporate level and also taxed to the individual shareholders. A “S” Corporation is much like a “C” Corporation in its protection of shareholders from individual liability. The main difference between an S Corporation and a C Corporation is an S Corporation is exempt from federal income tax. All taxes are paid exclusively by the individual shareholders. B. Limited Liability Company (LLC) A Limited Liability Company is a hybrid of a Corporation and a Partnership. In a Limited Liability Company or LLC, individual parties have and control shares, and their liability is usually determined by their investment. Yet, like a Partnership, income tax is not paid at the Corporate or LLC level, but is rather passed through to the shareholder level. An LLC is a rather complicated form of business entity. C. Professional Limited Liability Company A Professional Limited Liability Company permits licensed professionals to possess the same advantages inherent in a Limited Liability Company. A Professional Limited Liability Company also has the same disadvantages as a Limited Liability Company. All members of such an entity must be members of the same profession. D. Corporate Trusts A Trust is an instrument where a Settlor or the Creator of the Trust, determines a Trustee to manage his or her Assets, to the benefit of a Beneficiary. Upon the Creator’s death, the Assets pass directly to the Beneficiary without the need for Probate or the payment of Estate taxes. In a Corporate Trust, the Creator is also the Beneficiary. Corporate Trusts tend to be used for the business activities of many financial service companies and banks for activities that involve acting in a fiduciary capacity for investors in a particular security. E. Non-Profit Corporations A Nonprofit Corporation must be incorporated to serve a charitable, educational, scientific, religious or literary purpose. The nonprofit corporation does not pay income tax on money that it receives for a charitable purpose. Donors’ donations are tax deductible and some benefits may be deducted as business expenses. Any property owned by the Nonprofit Corporation, remains with the Corporation and cannot be transferred to an individual or for profit entity. --- - Published: 2013-07-29 - Modified: 2013-07-29 - URL: https://www.jayweller.com/immigration/ Green Card (Permanent Residence) Remove Conditions On Green Card Green Card Through Family Green Card Through A Job Working In The United States Permanent Workers Temporary (Nonimmigrant) Workers Temporary Visitors For Business Student And Exchange Visitors Citizenship Citizenship Through Naturalization Citizenship Through Parents Family Family of US Citizens Family of Green Card Holders Family of Refugees & Asylees Fiance’ & Marriage Visas Provisional Waivers Immigration Our Lawyers can assist you in areas of Immigration Law. Legal Services that our Law Firm provides in terms of Immigration Law include the procurement of Green Cards or Permanent Residence, Green Cards Through Family, Green Cards Through Job or Employment, and the Removal of Conditions on a Green Card. For persons seeking to work in the United States or wish to continue working in the United States, Jay Weller Legal Group offers Legal Representation in obtaining Visas for Permanent Workers, Temporary or Non Immigrant Workers, Temporary Visitors For Business. Our Lawyers are also qualified in Legal Representation, and Citizenship Through Naturalization. A. GREEN CARD A. GREEN CARD A Green Card is also known as a permanent resident card. A Green Card grants an individual permanent residency, which means that person can work and live in the United States on a permanent basis. There are numerous methods to obtaining a Green Card. One can obtain a Green Card through family sponsorship, employment, or through various Refugee, Asylum or Humanitarian programs. A1. GREEN CARD THROUGH FAMILY One of the more common means to procure a Green Card is through family members. One may be eligible for a Green Card if he or she is an immediate relative of a United States Citizen, including spouses, married and unmarried children, and brothers and sisters of United States Citizens. Spouses and unmarried children of a sponsoring Green Card holder may be eligible for a Green Card. Other categories include a battered spouse or child, K nonimmigrant, a person born to a foreign diplomat in the United States, and the widow or widower of a United States Citizen. A2. GREEN CARD THROUGH A JOB There are a number of ways an individual may obtain a Green Card through a job or employment. One may obtain a Green Card through a job offer of permanent employment in the United States, or a Green Card through Investment in a business that creates new employment in the United States. One can obtain a Green Card through Self Petition if that immigrant has “extraordinary ability” in a certain field or given a National Interest Waiver. If you are qualified in certain specialized occupations, you may be granted a Green Card, including Broadcasters, Afghan/Iraqi Translators, Religious Workers, and others. B. WORKING IN THE UNITED STATES There are numerous manners in which an individual and their spouses and children may enter the United States for purposes of working here. There are Visas for permanent workers, temporary workers or nonimmigrant Visas, a Visa for temporary workers for business, and Student and Exchange Visas. C. CITIZENSHIP You may... --- ---