Recent Blog Posts
Will I Have to Give Up Alimony Payments If I File for Bankruptcy?
If you recently separated from your spouse or had your divorce finalized, you may be struggling financially and relying on alimony payments to pay your bills and over the costs of other necessities. While alimony can be awarded in a Florida divorce to husbands and wives alike; there is no legal connection between gender… Read More »
What is an Impaired Creditor in Chapter 11 Bankruptcy?
Whenever a business or an individual files for Chapter 11 bankruptcy in South Florida, they will need to be aware of the term “impaired creditor” and how it will impact their bankruptcy case. There are many different types of creditors in bankruptcy cases. In a bankruptcy filing, you will come across the terms “secured… Read More »
Pandemic EIDL Loans Are Leading to More Business Bankruptcies
Did your South Florida business borrow a COVID-19 Economic Injury Disaster Loan (EIDL) through the federal government? At the time you borrowed the loan, it may have seemed like the best option for keeping your business running through the pandemic shut-downs and to ensure that your business would be able to recover financially from… Read More »
Can Consumers Have Too Much Debt to Be Eligible for Bankruptcy?
Did you know that consumers in America now have an average of more than $100,000 in debt? The total amount that debtors carry, on average, varies by age group. Yet on the whole, according to a new report from CNBC, Americans on average are carrying $105,056 in debt, which total to $17.57 trillion and… Read More »
Understanding “Luxury” Debt and Consumer Bankruptcy
If you are planning to file for personal bankruptcy and have recently accrued debts that you want to include as part of your bankruptcy estate and your bankruptcy filing, it is essential for you to understand the relevance of “luxury” debt and how it could affect your bankruptcy case. Generally speaking, “luxury” goods or… Read More »
Will I Lose My Digital Assets in a Bankruptcy Filing?
Cryptocurrency and other types of digital assets are becoming increasingly common in personal or consumer bankruptcy cases. Indeed, according to an article in the American Bankruptcy Trustee Journal, digital assets have been appearing with more visibility in individual bankruptcy cases since approximately 2019. Since these types of assets are a relatively recent type of… Read More »
What is a Preferential Transfer in a Bankruptcy Case?
Whether you are an individual or a business planning to file for bankruptcy in South Florida, it is important to understand the potential issue of the “preferential transfer” if you have any plans to make payments to creditors prior to your imminent bankruptcy filing. In short, if you make payments to some creditors before… Read More »
Can a Person Be Disqualified from Filing for Bankruptcy?
If you are considering a personal bankruptcy filing in South Florida, you may be unsure about how eligibility works. Indeed, you may have concerns that there is some aspect of your current financial situation, or an issue in your financial past, that can disqualify you from a bankruptcy filing. According to a recent report… Read More »
What is a Chapter 22 Bankruptcy?
If your business is struggling financially, and you other co-owners have started researching bankruptcy possibilities, you may have come across references to Chapter 22 bankruptcy. Or, if your business has gone through a reorganization bankruptcy in the past and wants to have that option again, your search terms likely yielded results containing the phrase… Read More »
What Property Counts for Florida’s “Wildcard” Exemption?
Are you currently considering a personal bankruptcy filing in South Florida? If so, you will most likely be filing for either Chapter 7 bankruptcy or Chapter 13 bankruptcy, and Florida’s bankruptcy exemptions will be something that you must learn more about for your case. Most bankruptcy exemptions in Florida that are available to individual… Read More »
