Chapter 7 Bankruptcy

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Chapter 7 of the Bankruptcy Code allows debtors to have their debts forgiven through liquidation. During this process, nonexempt assets are sold and the proceeds are distributed to creditors. Unlike Chapter 13 bankruptcy, where a debtor retains their property and pays back a portion of their debts, Chapter 7 bankruptcy discharges remaining debts so the debtor does not have to pay them. As the most common form of bankruptcy, Chapter 7 is also known as straight or ordinary bankruptcy. Chapter 7 bankruptcy is usually a Read More +

Chapters in Bankruptcy: A Short Primer

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RE: CHAPTER 7, 11, & 13 BANKRUPTCIES This article is intended to provide background information on, and will discuss three chapters of the United States Bankruptcy Code – Chapter 7 (“liquidation” or “discharge” bankruptcy); Chapter 11 (“reorganization” bankruptcy); and, Chapter 13 (“wage-earner” bankruptcy). Chapter 7 Bankruptcy: Chapter 7 of the United States Bankruptcy Code provides for the sale of a debtor’s nonexempt property with the proceeds of sale being distributed among the debtor’s creditors. The process is called, “liquidation”. Chapter 7 bankruptcy is also known Read More +

Itt Tech: an Epic Failure on Many Levels

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Many people in the United States would be surprised to learn that the profit motive in “higher education” is not something that just magically appeared during the second half of the 20th century. A large number of for-profit colleges, institutes, and “universities” were founded in the decades after the end of the Second World War. Having “profit” as a motive for setting up and operating for-profit schools, however, had its genesis in the United States long before the 20th century; the roots of for-profit education Read More +

Bankruptcy, Layoffs and Likely Sale – the “fate” of A Pulitzer Prize-winning Newspaper

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One of West Virginia’s oldest newspapers, the Charleston Gazette-Mail announced on Monday, January 29, 2018, that a Chapter 11 Bankruptcy filing “is imminent”. The actual filing of bankruptcy pleadings has not been confirmed. Informed sources say the plan was to file the requisite Chapter 11 bankruptcy paperwork on Tuesday, January, 30th.If a Chapter 11 filing is commenced, West Virginia’s largest newspaper could be sold coming out of bankruptcy or otherwise liquidated. The report of the pending bankruptcy filing included news that the parent company of Read More +

Bankruptcy Waiting Periods

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CHAPTERS WAITING PERIOD 7 TO 7 8 YEARS FROM PREVIOUS FILING 13 TO 13 2 YEARS FROM PREVIOUS FILING (CASE MUST BE CLOSED) 7 TO 13 4 YEARS FROM PREVIOUS FILING 13 TO 7 6 YEARS FROM PREVIOUS FILING UNLESS 100% OF THE UNSECURED WERE PAID IN THE PRIOR CHAPTER 13 OR AT LEAST 70% OF THE UNSECURED DEBTS WERE PAID IN THE PRIOR CHAPTER 13 AND THE PLAN WAS PROPOSED IN GOOD FAITH The above chart represents the period of time a debtor must Read More +

Chapter 7 Bankruptcy Treatment of Secured Property

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STATEMENT OF INTENTIONS IN BANKRUPTCY In a Chapter 7 bankruptcy, the debtor must complete and sign a form called the Statement of Intentions. The Statement of Intentions indicates which of the available options the debtor chooses towards his or her secured property. The primary examples of secured property are an automobile loan or a mortgage loan. In a Chapter 13 bankruptcy one manifests his or her intent regarding such secured property through the Chapter 13 plan. In a Chapter 7 bankruptcy, the Statement of Intentions Read More +

Introduction to Weller Legal Group

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Jay Weller has been a practicing Clearwater Bankruptcy Attorney since 1993. Weller Legal Group has represented over 40,000 Clients in Bankruptcy Proceedings and other Debt Related Matters, since its founding in 1993. The Bankruptcy Attorneys, Paralegals and Staff, at our Clearwater Law Office, are dedicated almost exclusively to representing our Clients in the many facets of Bankruptcy Proceedings. The Bankruptcy Attorneys at Weller Legal Group are consistently the highest rated in the Tampa Bay area. If you are need of advice or representation in Bankruptcy, Read More +

Introduction to Mr Jay Weller, Bankruptcy Attorney

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My name is Jay Weller and I an Attorney who has represented many thousands of Clients in Bankruptcy Proceedings, since 1993. Myself and my Law Office has filed over 40,000 Bankruptcies and has represented many thousands more Clients through our numerous Non Bankruptcy Programs or Bankruptcy Alternatives. Please examine our website at www.jayweller.com. The website contains information on virtually any subject of Bankruptcy Law and Procedure, with over 100 Videos discussing common questions and issues in Bankruptcy, along with a few hundred pages of information Read More +

Florida Statute 222.201..

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Florida Statute 222.201 provides that Veterans Benefits are Exempt or protected from attachment, seizure or garnishment by Creditors in the State of Florida.

Dischargeability of Student Loans

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Dischargeability Of Student Loans Interpreting Bankruptcy Code Section 523(a)(8) Constructing The Plain Text Of The Bankruptcy Code In Determining Whether A Student Loan Can Be Discharged Or Eliminated In Bankruptcy Part One of A Series By Clearwater Florida Bankruptcy Lawyer Jay Weller Please refer to the Text of the prior Post which repeats, word for word, the Text of the Bankruptcy Code as its applies to Student Loans. Section 523(a)(8) of the Bankruptcy Code defines when Student Loans can be Discharged or eliminated in Bankruptcy. Read More +