TheFloridaBankruptcyLawBlog

An attorney called me to ask whether he continue a residential eviction after the tenant filed Chapter 13 bankruptcy. The landlord’s attorney had already obtained a writ of eviction for non-payment of rent. 

Sometimes a creditor with a cause of action against a corporation will try to “pierce the veil” of the corporation to hold liable the owners of the company if the creditor believes the owners have significant assets. There is a different concept called “reverse piercing” when a creditor will try to attack a corporation and its assets to satisfy a claim initially brought against the individual owners.

There have been many news reports recently about the large amount of student loan debt burdening young people entering the workforce. Most people know that bankruptcy may not discharge student loan debt except in circumstances of “extreme hardship.” . I am often asked by clients or just blog readers for suggestions dealing with large amounts of student loan debt.

Bankruptcy debtors are bound by the information on their bankruptcy petition, and debtors should not assume they can edit financial information to protect assets after the bankruptcy trustee requires the assets to be turned over.

Many people have suggested buying a car through a small business corporation they own in order to protect the car from personal creditors. One debtor found that this planning back-fired when he filed Chapter 7 bankruptcy because it disqualified him from claiming an exemption for the vehicle which he otherwise would be entitled if the vehicle were owned in his personal name.