Discharge Of Student Loans In Bankruptcy Proposal In New Bill Before Congress

Written by

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 Read More +

Tampa Bankruptcy Attorney On 100% Chapter 13 Bankruptcy Plans

Written by

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 Read More +

What You Need To Know About Buying A Home After Bankruptcy

Written by
blank

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 Read More +

Why You Should Consider Bankruptcy For Your Medical Debt

Written by
blank

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 Read More +

How To Confirm A Chapter 13 Bankruptcy Template

Written by
blank

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 Read More +

Contemplating Small Business Bankruptcy In Tampa, Fl

Written by
blank

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 Read More +

Negotiating Debt With Your Credit Card Company

Written by
blank

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 Read More +

Chapter 13 Bankruptcy Retention Of Tax Refund

Written by
blank

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 Read More +

Bankruptcy Attorney Procedures For Phone Consultation With Client [to Be Held After Signing Petition, But Before Scheduled 341 Hearing]

Written by
blank

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. Read More +

Bankruptcy Considerations For Small Business Owners

Written by
blank

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 Read More +