Monthly Archives: June 2022
Florida Vehicle Bankruptcy Exemptions Will Not Increase
South Florida residents who have been considering the possibility of filing for bankruptcy might have heard about legislation in the state that would have increased the vehicle exemption in consumer bankruptcy filings. That bill, HB 265, was passed by lawmakers in March and was sent to the desk of Florida Governor Ron DeSantis. However,… Read More »
What Does A Bankruptcy Trustee Do?
Anyone who is planning to file for bankruptcy, whether a consumer bankruptcy or commercial bankruptcy, should have a clear understanding of how the bankruptcy process will work and the roles of key figures in the bankruptcy case. The trustee is an important entity in bankruptcy proceedings, and it is important to understand the trustee’s… Read More »
The Debt Limit For Chapter 13 Has Been Raised To $2.75 Million
The debt limit for Chapter 13 has been raised to $2.75 million under the Bankruptcy Threshold Adjustment and Technical Corrections Act., effective June 21st. Section 109(e) now reads “[o]nly an individual with regular income that owes, on the date of the filing of the petition, non-contingent, liquidated debts of less than $2,750,000 or an… Read More »
Retirement And Bankruptcy: Three Things To Consider
Many residents of West Palm Beach are nearing retirement or have recently retired. After you have retired and are no longer thinking about work, the prospect of filing for consumer bankruptcy can be daunting. Yet for many older adults in South Florida, bankruptcy is an extremely helpful tool for those individuals who are struggling… Read More »
How Does Chapter 11 Business Bankruptcy Get Started?
Chapter 11 bankruptcy is one type of reorganization bankruptcy, and it is most common among businesses struggling with debt that want to remain open. While individuals can also file for Chapter 11 bankruptcy, this type of bankruptcy is less common among individual debtors and is usually only used by individuals when their debts exceed… Read More »
What You Should Know About Types Of Debt In Bankruptcy Cases
There are many different types of debt in bankruptcy cases, and it can be difficult to keep track of all of the terms used and how they relate to one another. When you are considering the possibility of bankruptcy or are researching different types of bankruptcy filings, you are likely to come across a… Read More »
Can Bankruptcy Stop Foreclosure?
Many consumers who are considering the possibility of filing for bankruptcy in South Florida are also struggling to pay the mortgage and are facing the threat of foreclosure. As such, homeowners who are thinking about Chapter 7 or Chapter 13 bankruptcy often want to know if bankruptcy has the ability to stop a foreclosure… Read More »
5 Things To Know About The Automatic Stay In Bankruptcy
One of the most powerful tools in a consumer bankruptcy case is the automatic stay. It is an injunction that stops creditors from beginning any debt collection actions against the creditor, as well as from continuing to take any debt collection actions against the creditor or their property. If you are considering filing for… Read More »
Understanding The Florida Bankruptcy Homestead Exemption
Any debtor who is filing for personal or consumer bankruptcy in West Palm Beach should understand how bankruptcy exemptions work, paying particular attention to the homestead exemption if that debtor is a homeowner. Florida’s homestead exemption is extremely generous, and it allows debtors in Florida to exempt more equity in a home than most… Read More »
Getting A Mortgage After Bankruptcy: What To Know
There are many myths and misconceptions concerning consumer bankruptcy, especially when it comes to the impact of a Chapter 7 bankruptcy or Chapter 13 bankruptcy on your credit and your ability to rebuild your financial profile once your debts are discharged. Indeed, many consumers incorrectly assume that a personal bankruptcy filing means that they… Read More »
