News Topic: TheFloridaBankruptcyLawBlog

Almost every day I receive a communication from the bankruptcy court that a Notice of Commencement form in one of my clients’ bankruptcy cases was returned for an incorrect address. That creditor has not received notice of my client’s C hapter 7 ... Read full article

Old taxes may be discharged in Chapter 7 bankruptcy , subject to several conditions. Sometimes my bankruptcy clients contact me after they received their discharge and complain that there is still a tax lien on the title to their home even though they ... Read full article

Most Chapter 7 bankruptcy debtors do not own investment interests in limited liability companies. People who file bankruptcy have either liquidated all investments or do not have money to invest in business. ... Read full article

A debtor files a Chapter 13 bankruptcy and makes plan payments for several months. Then, the debtor loses his job and is unable to make the Plan payments. The debtor files a notice of conversion to Chapter 7 . ... Read full article

There are two types of “people” in the credit card world that are frequently confused. These people are the “co-applicant” and the “authorized user.” Client I encounter in Orlando, Florida, often ask me if they are personally liable for someone else’s ... Read full article

As mentioned in prior blog posts, some Chapter 7 bankruptcy debtors who intend to surrender and move out of their upside down homes are incurring personal liability for home related expenses incurred after their bankruptcy filing. ... Read full article

Chapter 7 bankruptcy debtors may not discharge certain debts including debts related to alimony, child support, and other domestic support obligations. In almost all instances domestic support obligations arise out of a civil divorce proceeding. A recent ... Read full article

The Orlando Sentinel reported that a founding partner of one of Orlando’s most prolific bankruptcy law firms himself filed personal Chapter 7 bankruptcy on September 7, 2012. The bankruptcy debtor, Carig R. Lynd, was a found of Kaufman, Englett & Lynd ... Read full article

Many of my clients ask me how their situation and my proposed solutions will affect their credit score. One of the best explanations of credit scores I’ve seen is in a post on a travel blog called The Points Guy. ... Read full article

Bankruptcy people have been getting nervous about debtors stripping second mortgages from their homestead properties in Chapter 7 bankruptcy . ... Read full article

Florida’s Chapter 7 bankruptcy debtors may exempt $1,000 of personal property per debtor, and if not claiming homestead exemption , an additional $4,000. The value of personal property for bankruptcy purposes is based on flea market, garage sale, or ... Read full article

Within two weeks of filing Chapter 7 bankruptcy  these debtors took $12,000 of non-exempt cash from an insurance policy and used the money to fund exempt IRAs . ... Read full article

Florida common law is that entireties property is exempt from all creditors of either spouse, but it is not exempt from joint creditors. Tenants by entireties property in bankruptcy proceedings has been the subjection of judicial debate over the years ... Read full article

A “credit card bust-out” is a scheme in which someone purchases a large amount of goods on credit card debt, conceals the goods, and then files Chapter 7 bankruptcy to wipe out the credit card debt. It’s an abuse of the bankruptcy system designed to help ... Read full article

One of the defenses to a fraudulent transfer action is that the debtor’s transfer in question was for “reasonably equivalent value.” The general rule is that a transfer to repay a loan is a transfer for value because the transferor receives a deduction in ... Read full article

Chapter 7 bankruptcy debtors are excused from the means test if their debts are primary non-consumer debts. The distinction between what is a consumer debt and what is a non-consumer debt is sometimes unclear. Mortgage debt on the debtor’s primary ... Read full article

Where may a business file bankruptcy? The president of a small family business based in Georgia called me to ask whether his business could file a Chapter 11 bankruptcy in Florida. The business was a Georgia corporation with offices in Atlanta, Orlando, ... Read full article

I follow a blog called The Points Guy because he informs readers of incentive reward programs for new credit cards and recommends the best credit cards for different consumer needs. His blog occasionally reports on credit scoring as it affects people’s ... Read full article