Fear Of Medical Bankruptcy Among Americans

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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. Read More +

Tampa Bankruptcy

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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 Read More +

How To Avoid Defaulting On Your Car Loan

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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 Read More +

Acceleration Of Business Bankruptcy Filings

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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 Read More +

Bankruptcy And Evictions

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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 Read More +

Determining Applicable Exemptions In Bankruptcy

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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 Read More +

Tampa Businesses And Coronavirus – Closed, Closing And Not Coming Back?

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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 Read More +

Florida Fraudulent Transfers

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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 Read More +

Summer Activities And Coronavirus

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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 Read More +

Bankruptcy Proof Of Claims For Dummies

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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 Read More +