Recent Blog Posts
Congress Takes Steps to Raise Debt Limits for Subchapter V
Subchapter V bankruptcy — which is a subchapter of a traditional Chapter 11 bankruptcy — has only been in existence for a relatively short amount of time. This particular type of bankruptcy, aimed specifically at smaller businesses seeking a reorganization bankruptcy, was created through the Small Business Reorganization Act of 2019 and became effective… Read More »
How Are Florida’s Bankruptcy Exemptions Different from Federal Exemptions?
For anyone who is considering a personal bankruptcy filing — whether a liquidation or reorganization bankruptcy, but especially a liquidation bankruptcy — it is critical to understand which exemptions will apply to your case so that you can determine which of your assets will be exempt. In Chapter 7 liquidation cases, exemptions permit debtors… Read More »
What Is the Right of Redemption in a Florida Foreclosure Case?
If you are facing foreclosure in Florida, you may assume that once your lender files suit, the outcome is inevitable. That is not necessarily true. Florida law gives homeowners a specific, court recognized opportunity to stop a foreclosure sale even after a final judgment has been entered, known as the right of redemption. Understanding… Read More »
Florida Shortened the Deadline for Hospitals to Sue Over Unpaid Medical Debt
Medical debt looks different from other consumer debt, and Florida law now treats it differently too. A change that took effect in the summer of 2024 shortened the window that hospitals and surgical centers have to sue patients over unpaid bills. If you are facing a lawsuit, or a threat of one, over an… Read More »
What Is Florida’s Head of Family Exemption From Wage Garnishment?
If a creditor has obtained a judgment against you and is now trying to garnish your paycheck, you may not be as exposed as you think. Florida law offers a powerful defense for a specific category of debtor: a person who qualifies as the head of a family. Depending on your circumstances, this exemption… Read More »
Can a Subchapter V Bankruptcy Restructure My Florida Business’s EIDL Loan Debt?
Small business owners across South Florida who are struggling to keep up with a large Economic Injury Disaster Loan (EIDL) often hear that Subchapter V of Chapter 11 is the answer, marketed at its creation as a faster, cheaper, and simpler alternative to a standard Chapter 11 case. In practice, many businesses that pursue… Read More »
What Happens When My Florida Business’s Defaulted EIDL Loan Is Referred to the U.S. Treasury?
Many South Florida business owners who took out a COVID-era Economic Injury Disaster Loan (EIDL) are now falling behind on payments, and the consequences of default move faster, and are more severe, than many borrowers expect. Once the SBA refers a delinquent EIDL loan to the U.S. Department of the Treasury, the loan leaves… Read More »
How Does Chapter 11 Bankruptcy Affect the SBA’s Lien on My Business’s EIDL Loan Collateral?
If your business received an Economic Injury Disaster Loan (EIDL) of more than $25,000, the SBA almost certainly took a security interest in your business assets as a condition of the loan, filing a UCC-1 financing statement covering equipment, inventory, accounts receivable, and other business property. If your business is now considering a Chapter… Read More »
Will I Lose My Tax Refund If I File for Bankruptcy in Florida?
Bankruptcy filings tend to climb every spring, and it is not a coincidence. Many people wait until after they file taxes to see whether a refund is coming before deciding on a filing strategy, while others worry that filing at the wrong time will hand their refund straight to a bankruptcy trustee. Both concerns… Read More »
What Happens to My Cosigner If I File for Bankruptcy in Florida?
If a family member or friend cosigned a car loan, a private student loan, or a credit card for you, filing for personal bankruptcy raises an obvious question: does your bankruptcy protect that person from the debt too, or are they left holding the bag? The answer depends almost entirely on which chapter of… Read More »
