Bankruptcy and Foreclosure Blog

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Jeff
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Why I Recommend Chapter 13 More Often Than Chapter 7 These Days – PART 2


Last week, I wrote Part One of this article, where I explained some of the reasons that I find myself recommending Chapter 13 more often than Chapter 7 these days. Here are some more: Florida bankruptcy exemptions are woefully inadequate Although bankruptcy is governed by federal law, bankruptcy exemptions vary from state to state. Exemptions […]

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Why I Recommend Chapter 13 More Often Than Chapter 7 These Days – PART 1


Five years ago, we only filed one Chapter 13 for every four or five Chapter 7’s. These days, I find myself recommending Chapter 13 far more often than Chapter 7. Why the turnaround? There are many reasons. Here are some of them: Assets It has never been harder to protect assets in Chapter 7 in […]

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How Much Debt Do I Have To Repay In Chapter 13 Bankruptcy


This is one of the questions I encounter most frequently during my consultations with prospective new clients.  While some people realize that Chapter 13 involves a payment plan, most don’t fully understand how either the commitment period or the monthly repayment figure is calculated.  Many believe that the repayment is based on how much debt […]

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When Can You Buy a Home after Bankruptcy or Foreclosure


People who have filed for bankruptcy or have been the subject of property foreclosures get a negative effect on their credit ratings. While this negative effect is not as critical a hit as in the 90’s, it can still hamper a person’s ability to buy a new home. Lenders are understandably wary of potential borrowers […]

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Why You Should Not Transfer Properties Before Filing for Bankruptcy


A lot of people think that they can pull one over on the law by transferring properties before filing for bankruptcy. Their purpose is to hide these assets so that they cannot be liquidated and will be out of reach from the trustee, and thus the creditors. The problem with that approach is that you […]

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David Cassidy Files for Bankruptcy, South Florida Home Ordered to Be Sold to Pay Debts


Last February 2015, David Cassidy announced that he is going through bankruptcy proceedings. The former Partridge family star stated that he needed this “to reorganize my life as I go through divorce and to restructure my finances.” Cassidy’s bankruptcy filing came just about a year after being arrested for his third drunken driving charge last […]

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US Supreme Court Rules that Secondary Loans Can’t be Stripped off in Bankruptcy


The US Supreme court recently brought down one of its more surprising decisions. With a unanimous vote, the Supreme Court ruled that a second mortgage on an underwater home cannot be voided during bankruptcy. In a 9-0 decision on the Bank of America, N.A. v. Caulkett case, the court says that borrowers whose homes are […]

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