the Effects of Bankruptcy on Your Credit Report

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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 Read More +

What You Should Know About Bankruptcy and Your Credit

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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 Read More +

Comparing Credit Cards and Debit Cards

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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. Read More +

Issue of Acreage Limitations in the Claim of the Florida Homestead Exemptions in Federal Bankruptcy Proceedings

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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 Read More +

Can Bankruptcy Stop an Eviction in Florida?

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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 Read More +

Legal Versus Equitable Interests in Bankruptcy

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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 [See USC 541(a)(1)]. 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 Read More +

Sale of Homestead and Other Assets in Bankruptcy

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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 Read More +

Factors That Impact Your Bankruptcy Case

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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 Read More +

Recent Executive Orders Regarding Student Loans

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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 Read More +

Terms of Bankruptcy Bill Addressing Student Loans

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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, Read More +