Category Archives: Bankruptcy Attorneys
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 »
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 »
Your Pet and Your Personal Bankruptcy Filing
Are you considering a personal bankruptcy filing in South Florida, including either a Chapter 7 bankruptcy filing or a Chapter 13 bankruptcy filing? If so, you may not realize it, but you will need to disclose your pet or pets along with all of your other property in the bankruptcy schedules you submit to… Read More »
What is Included in a Personal “Bankruptcy Estate”?
Have you been considering a bankruptcy filing and come across the terminology of the “bankruptcy estate”? If you have never filed for bankruptcy or discussed the details with a friend or family member who has, much of the specific language used in the United States Bankruptcy Code and bankruptcy cases can feel quite foreign…. Read More »
What is the Difference Between Discharge and Dismissal in a Bankruptcy Case?
When most individual debtors begin the process of planning for a bankruptcy filing, the goal is to eliminate debt. Debtors who file for Chapter 7 bankruptcy aim to have most or all of their debts discharged in order to get a fresh financial start at the conclusion of the bankruptcy case, which is often… Read More »
What is an Administrative Debt in Bankruptcy?
Bankruptcy cases involve many different forms of debts, which are classified in particular ways. Those classifications impact how such debts are repaid, and in reorganization bankruptcy cases, whether those debts must be repaid in full or may be eligible for discharge. In general, whether you are filing for personal bankruptcy or your business is… Read More »
