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 +

5 Myths About The $1200 Stimulus Check

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In March 2020 the biggest stimulus package in the history of America was passed by Congress to counter the economic situation caused by the coronavirus pandemic. It was signed to become the law by the U.S. President Donald Trump. This $2.2 trillion package will provide $500 billion to the industries in distress, $350 billion to the small business loans, and $260 billion for expanding the unemployment benefits program. But all the discussion is about the $300 billion set aside for direct stimulus payments. These payouts Read More +

Worried About Income Tax Debt?

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Look no further. At Weller Legal Group, we are fully equipped to help with your questions regarding the IRS. Constantly receiving mail and phone calls from the United States Treasury can seem threatening and feel unending. Weller Legal Group considers it our privilege to help you understand your options when it comes to your unique tax information. Understanding the Basics Q: If I file for bankruptcy, could I wipe out that money that I owe to the IRS? A: Yes! There are just a few Read More +

Riverview Florida Bankruptcy Attorney

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If you live or work in Riverview Florida and seeking a Bankruptcy Attorney then Jay Weller may be best choice. Since 1993, Mr. Weller has represented Debtors and Debtors only, in Bankruptcy Proceedings. Weller Legal Group has represented many thousands of Clients in Bankruptcy, including Chapter 11 Bankruptcy, Chapter 13 Bankruptcy and Chapter 7 Bankruptcy. Most Bankruptcies are filed under either Chapter 7 or Chapter 13. Chapter 7 Bankruptcy seeks the elimination or Discharge of the Debtor or Debtors’ Unsecured Debts, such as Credit Cards, Read More +

Sun City Center Florida Bankruptcy Attorney

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For those seeking a Bankruptcy Attorney in Sun City Center in Florida, the Attorneys at Weller Legal Group are here to help. Since 1993, Jay Weller and the Bankruptcy Attorneys at our Offices have represented tens of thousands of Clients in Bankruptcy Proceedings. Most of our Clients file either Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Chapter 7 Bankruptcy is designed to allow a Debtor to receive a Fresh Start through the Discharge of Unsecured Debts. Unsecured Debts are Debts that are not Secured by Read More +

Seminole Heights Tampa Bankruptcy Attorney

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For those seeking a Bankruptcy Attorney in Seminole Heights in Tampa, our Tampa office is conveniently located. Since 1993, Jay Weller and Weller Legal Group PA, have been serving and representing many of the members of the Seminole Heights community in Bankruptcy matters, including Chapter 7 and Chapter 13 Bankruptcy. Our Tampa office is located at 4100 W Kennedy Boulevard. We are located on W Kennedy between the intersections of Dale Mabry and Lois Avenue, across from Jimbo’s BBQ. Chapter 7 Bankruptcy will generally stop Read More +

The “means Test” In Bankruptcy (chapter 7) – Part Iii

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Part III of Three Related Articles [See related articles on this blog: The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), “Part I, Rationales”&“Part II, Changes in Bankruptcy Law”] After passage of the BAPCPA in 2005, anyone wanting to file for Chapter 7 bankruptcy relief was faced with the new requirement of having to pass a “means test” to determine their eligibility. The primary purpose of the means test is to help the court determine whether an individual should be allowed to file a petition Read More +

Chapter 11 Bankruptcy Filings – 770 As Of March, 2018 – Highest In 7 Years

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*** UPDATE *** (See prior article on this blog – “Chapters in Bankruptcy, a Short Primer…”) The number of Chapter 11 (“reorganization” bankruptcy) filings has reached an all-time high since 2011. In that year, there were 789 Chapter 11 filings as the nation was still trying to recover from the “great recession” of 2008 – 2009. According to data from the American Bankruptcy Institute (“ABI”), the year-over-jump (that tracks the number of such filings in comparison to previous reporting periods) was the second highest to be Read More +

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 +