Tag: Chapter 7 Bankruptcy
CHAPTER 13 BANKRUPTCY MONTHLY PAYMENTS BASED UPON DISPOSABLE INCOME
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[NAME OF CLIENT], 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…
Should You File For Bankruptcy After The Holidays Are Over?
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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…
The Benefits Of Chapter 13 Bankruptcy For Businesses
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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…
TAMPA BANKRUPTCY ATTORNEY CELEBRATES 27 YEARS OF SERVICE IN THE BANKRUPTCY COURT
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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…
TAMPA BANKRUPTCY ATTORNEY EXPLAINS BANKRUPTCY OPTIONS
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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.…
TAMPA AREA RESIDENTS CAN LOWER AUTOMOBILE PAYMENTS THROUGH CHAPTER 13 BANKRUPTCY
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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…
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…
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.…
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…
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…
BANKRUPTCY TREATMENT OF PRIVATE SCHOOL EXPENSES
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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…
Planning Bankruptcy Filing During Coronavirus Pandemic
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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…