Tampa Bankruptcy Court Decision On Discharge Of Construction Contractor Debt To Customer

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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 Read More +

Tampa Bankruptcy Court Decision Relating To Tax Refunds

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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, Read More +

Tampa Bankruptcy Court Important Decision Regarding Discharge Of Income Tax Debt

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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 Read More +

The Pros And Cons Of Filing For Bankruptcy

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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. Read More +

Foreclosures 2022

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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 Read More +

How Opening A New Credit Card Affects Your Credit Card Debt

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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 Read More +

Things To Know About Bankruptcy And Divorce

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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 Read More +

A Quick Guide To Bankruptcy

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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. Read More +

Treatment Of Child Support Arrears Owed To Bankruptcy Debtor

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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 Read More +

Chapter 13 Bankruptcy Treatment Of Automobile Accidents

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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 Read More +