Puerto Rico & Bankruptcy

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The island of Puerto Rico is officially a Commonwealth of the United States. Puerto Ricans are citizens of the United States who share many of the same rights and benefits of their fellow citizens living on the mainland. Until February, 1898, Puerto Rico had been under the colonial rule of Spain for centuries. In that year and month, Spain granted them a quasi-independent status. The welcome status under the rule of the Spanish Kingdom came with a constitution, voting rights, and a theretofore unknown sense Read More +

Chapter 13 Bankruptcy Protection of Tax Refund the Matter of in Re Gibson

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In Chapter 13 Bankruptcy the Chapter 13 Bankruptcy Trustee will often attempt to seize or attach the tax refund of the Chapter 13 Debtor. The position of the Chapter 13 Trustee is that the tax refund received by the Debtor is additional disposable income that ought to be contributed to the Chapter 13 Bankruptcy Plan. Even in jurisdiction in which a tax refund is considered exempt, or for which there are available exemptions to protect the tax refund, the Trustee will likely argue that the Read More +

Creditor Harassment Summary

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OFFENDING PARTY A DEBT COLLECTOR? MUST BE A DEBT COLLECTOR AND NOT ORIGINAL CREDITOR COLLECTING DEBT. DID DEBT COLLECTOR IDENTIFY HIMSELF AS A DEBT COLLECTOR? WAS DEBT A CONSUMER DEBT TRANSACTION? INCLUDES BAD CHECKS, CONDO ASSESSMENT FEES, RESIDENTIAL RENTAL PAYMENTS, MUNICIPAL WATER SERVICE, REPOSSESSIONS EXCLUDES CHILD SUPPORT, TORT CLAIMS, AND PERSONAL TAXES VALIDITY OF DEBT IRRELEVANT FAIR DEBT COLLECTION PRACTICES ACT – FEDERAL LAW [15 USC 1692]. STRICT LIABILITY STATUTE, STATUTORY DAMAGES UP TO $1,000 PER VIOLATION. ACTUAL DAMAGES ALSO. REASONABLE ATTORNEY FEES. ONE YEAR Read More +

Chapter 9 Bankruptcy: Hartford, Detroit, Et Al

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The mayor of Hartford, Connecticut, Luke Bronin has been intimating for a number of months that the city may need to file Chapter 9 bankruptcy. Chapter 9 bankruptcy is a form of bankruptcy where a municipality can seek to reorganize its debts, and arrange such debts in a reduced payment over a period of years. According to reports, Hartford currently has a $65 million dollar deficit and has problems meeting its obligations, including upcoming shortfalls in revenue of $7 million in November, 2017 and $39.2 Read More +

Ramifications of the Supreme Court’s Lawless Decision in Bank of America V Caulkett

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MESSAGE FROM A BANKRUPTCY ATTORNEY IN CLEARWATER, FLORIDA PART TWO Jay Weller is a Bankruptcy Attorney in Clearwater, Florida. Jay Weller and Weller Legal Group have Law Offices in Clearwater, Port Richey, and Lakeland, Florida, and have filed over 40,000 Bankruptcies, since 1993. In order to understand this Article, please read Part One. What are the ramifications of the Supreme Court Decision in Bank of America v Caulkett? Why is its construction of the Bankruptcy Code important? Please note that the Supreme Court Decision in Read More +

Defendants Right to Selection Under Florida Law

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Florida Statute Section 222.07 states:   Upon the completion of the inventory the person entitled to the exemption, or the person’s agent or attorney , may select from such inventory an amount of property not exceeding, according to such appraisal, the amount of value exempted; but if the person so entitled, or the person’s agent, or attorney, does not appear and make such selection, the officer shall make the selection for him or her, and the property not so selected as exempt may be sold.

Homestead Exemptions Further Explained..

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The Judge in Public Health v Lopez, when discussing the Florida Homestead Exemption, as a protection against Creditors, stated that the purpose of the Homestead Exemption is to promote the stability and welfare of the state by securing to the householder a home, so that the homeowner may live beyond the reach of financial misfortune.

Homestead Exemptions

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In order for a Debtor to claim the benefit of the Florida Homestead Exemption, against a Creditor, he must be a Resident of the State of Florida.   In re Bermudez, a 1992 South District Court decision held that a Debtor who has a permanent visa or green card can qualify as a Resident of Florida for purposes of the Florida Homestead Exemption. An Alien Debtor, or a Debtor illegally within the borders of the United States, and specifically Florida, cannot claim the Homestead Exemption against Read More +

Homestead Exemption in Florida Continued..

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If you live in the State of Florida and you own property, you may be able to claim that property as Exempt as your Homestead.   Our prior Blogs discussed the requirements to establish the Homestead Exemption. In turn, a Creditor or a Bankruptcy Trustee can potentially seek to oppose your assertion of the Homestead Exemption to your property. The Creditor’s checklist includes:   Is the property located in the State of Florida? Is the Debtor residing or his family residing, in the property? If the Read More +

Homestead Exemption in Florida

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After forty months, if a property in the State of Florida qualifies as a Debtor’s Homestead or qualifies for the Homestead Exemption pursuant to Florida Law, then the property may have an unlimited fair market value, provided such property does not exceed one-half acre within a municipality in the State of Florida and 160 acres if such property is located outside a municipality in the State of Florida.