How Bankruptcy Can Affect Your Spouse

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One of the more common questions received by the bankruptcy lawyers is, ” How filing for bankruptcy will affect my spouse?” This question comes up frequently when just one of the spouses is planning to file for bankruptcy. Several people have a wrong impression that if they are married the spouse will also be responsible for the debt. However, in reality, this is not the case. Both the spouses will be on the hook only in case the debt was incurred in both the partners’ Read More +

Treatment of Child Support Arrears Owed to Bankruptcy Debtor

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How may the Bankruptcy Court treat child support arrears owed to a Debtor who files Bankruptcy? In such an instance, the Debtor or the Bankruptcy Attorney, on behalf of the Debtor, may engage in an analysis of two important concepts in Bankruptcy. The first question is whether child support or child support arrears are even to be included in the Bankruptcy Estate. How the property or asset in question is treated in its inclusion or exclusion from the Bankruptcy Estate, has a primary effect on Read More +

Chapter 13 Bankruptcy Treatment of Automobile Accidents

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If a Debtor is in an automobile accident, either before the filing of the Chapter 13 Bankruptcy or after the filing of Chapter 13, proceeds from any personal injury or property settlement arising out of the accident, are included in the Bankruptcy Estate. In Chapter 13 Bankruptcy in which the Debtor uses the Florida Bankruptcy Exemptions, there is no Exemption that specifically protects such proceeds arising from the accident. Most of our clients in Chapter 13 Bankruptcy, who are involved in an automobile accident, suffer Read More +

in Which Courthouse Should I File Bankruptcy?

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Under Title 28, Section 1408, cases under Title 11, are filed in the District Court for the District in which the person or entity filing Bankruptcy has for the prior one hundred eighty (180) days or the longer portion of the prior one hundred eighty (180) days, maintained either one’s domicile, residence, principal place of business OR principal assets. Although “residence” and “domicile” are not specifically defined in the Bankruptcy Code, one’s residence is generally held to be where one lives, or dwells, whereas a Read More +

What You Need to Know About the Foreclosure Process

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There are many financial responsibilities involved in owning a home. If you find yourself in a position where you can’t make the mortgage payments anymore, you face the risk of foreclosure. Fortunately, this is a process that you can halt anytime if you take the proper actions. Understanding How the Process Works You’ve received a letter from your bank stating that they’re foreclosing on your home. Unfortunately, you may not even understand the process and all it entails. Here are a few basic things that Read More +

Relationship with Credit Card Companies After Bankruptcy

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One of the common myths circulating about bankruptcies is that after you have filed for bankruptcy, it will not be possible to use the services of credit card companies again. But keep in mind that there are thousands of credit card users out there, that filed for bankruptcy. Yet they are getting new offers. You can very well find new offers even after filing for bankruptcy. The bankruptcy filing can be an opportunity for rebuilding the creditworthiness. There is no need to avoid credit cards Read More +

Are You Responsible for A Family Member’s Credit Card Debt?

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If you click on any of the advice columns related to family relationships, you will discover several queries about relationships that got strained due to money. Various members of a family put each other to shame talking about the financial decisions they did not approve of. Poorer relatives do not like the wealthy ones because they are not generous with them, especially, for repaying credit card debts. In most cases, the eagerness of a family member to insert the chip or swipe the card doesn’t Read More +

Reasons Why People File for Bankruptcy

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Why people file bankruptcy suits in the U.S. these days have been reported by the media citing the reason as medical problems in most cases. It is believed the people that file for bankruptcy in most cases have medical debts. However, oddly almost all the households are dealing with medical debts of some sort. It does not necessarily mean that medical debts cause households to file bankruptcy. Some other surveys indicate that there are different stories among bankruptcy filers. Let’s look at the common reasons Read More +

Effect of Conversion of Chapter 13 Bankruptcy to Chapter 7 Bankruptcy

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Bankruptcy Code Section 348(f) states when a Chapter 13 Bankruptcy is converted to a Chapter 7 Bankruptcy, the Bankruptcy Estate does not include property acquired by the Debtor after the original Chapter 13 Bankruptcy was filed. This is an interesting element of Bankruptcy Law because in a Chapter 13 Bankruptcy the Bankruptcy Estate can include property or assets that are held by the Debtor both before the filing of the Bankruptcy and after the filing of the Bankruptcy, during the entire term of the Chapter Read More +

Can I File for Bankruptcy If I Lose My Job?

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Many individuals in Florida found themselves unemployed once the epidemic hit. About 13.5% of the entire nation’s workforce, which equals out to be approximately 22 million people, were forced to file for unemployment benefits once the Coronavirus took its toll, according to the United States Department of Labor. With new strains of the virus popping up, many individuals have used bankruptcy as a means to erase their debts. Debts continue to rise for many people, yet they are uncertain about filing for bankruptcy as they Read More +