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Bankruptcy

Florida Bankruptcy Law

Chapter 7 and Chapter 13 bankruptcy law.
By Jonathan Alper, Esq.

Post Frequency: 2.7/day

Last Entry: March 28, 2011 at 13:42:00

Not A Fraudulent Conveyance To Take Your Name Off Title Of Asset Wholly Paid For By Another Person

Posted on February 11, 2009
I have written occasionally, and recently, about situations where a parent purchases an asset and puts their child?s name on the asset as a joint owner for estate planning purposes

Car Title Determine's Chapter 7 Trustee Interest In Car Paid For Wholly By Debtor's Parents

Posted on February 01, 2009
Many parents put their children on title to the parents? real estate, bank accounts, and cars for estate planning purposes. The parents want to give the children access to the assets in the event of the parents? disability or death....

Chapter 7 Trustee's Discretion To Pursue or Ignore Non-exempt Assets

Posted on February 01, 2009
Chapter 7 trustees have discretion to pursue, or not pursue, a debtor?s non-exempt assets for the benefit of the bankruptcy estate. Just because a debtor files bankruptcy with assets over the personal property exemption limits does not mean he will...

Chapter 7 Bankruptcy Risks Money In Jointly Owned Parent/Child Bank Account

Posted on January 25, 2009
Parents often add their child?s name to the parent?s bank account so that the child will have access to the parent?s fund to pay the parents? medical care and other support expenses as they grow older. This arrangement causes problems...

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Do Large, Irregular IRA Withdrawals Count As Debtor Income In Means Test Calculation?

Posted on January 22, 2009
The definition of income is important in the administration of the "means test" to determine eligibility for Chapter 7 bankruptcy. Some sources of income are specifically excluded from "income" for means test purposes; social security is an example of income...

Don't Allow A Mortgage Lender To Invade Your Bank Accounts To Pay Past-Due Payments

Posted on January 20, 2009
People often are driven to file bankruptcy after a creditor has successfully seized their money. Many banks want the borrower to maintain bank accounts as a condition of getting a home mortgage Often prospective bankruptcy clients tell me they have...

Chapter 13 Bankruptcy Changes Clear Key Hurdle: Hope For Homeowners

Posted on January 09, 2009
I received a few phone calls today about articles in national newspapers concerning prospective changes to Chapter 13 bankrupcy law. Plan to Cut Foreclosure Rate Clears Key Hurdle - WSJ.com. The proposed new law is intended to help homeowners modify....

Mobile Home Owner Eligible For "Wildcard" Personal Property Exemption in Chapter 7 Bankruptcy

Posted on January 04, 2009
People who do not claim or benefit from a homestead exemption are entitled to an additional personal property exemption in the amount of $4,000 in Chapter 7 bankruptcy. The $4,000 property exemption can be added to the debtors Constitutional exemptions...

How Can Chapter 7 Debtors Learn To Properly Value Their Furniture On Their Bankruptcy Schedules

Posted on January 03, 2009
Florida bankruptcy law permits each debtor to exempt $1,000 of furniture and other personal property including cash. This exemption is small compared to personal property exemptions permitted bankruptcy debtors in other states. Fortunately, your personal property is valued for bankruptcy...

Study Suggest Reasons For Failure of Voluntary Mortgage Modifications And Solution Through Chapter 13 Changes

Posted on December 26, 2008
Mortgage lenders' voluntary loan modification programs have given many homeowners hope that their bank will negotiate with them to help save their homes from foreclosure. However, a study sponsored by an organization of bankruptcy attorneys (the "NACBA") found that the...

Discharge Of Attorney Fees Awarded As Discovery Sanction In Civil Lawsuit

Posted on December 08, 2008
A caller and prospective bankruptcy debtor asked if attorneys fees awarded in a civil proceeding as a discovery sanction could be discharged in a Chapter 7 bankruptcy. The caller was concerned that "sanctions" imposed by a civil state court are...

People Without "Green Cards" May File Bankruptcy in Florida

Posted on December 08, 2008
Do you have to be a U.S. citizen or a permanent resident to file bankruptcy in Florida? A caller asked me today whether he had to have his "green card" before he could file Chapter 7 bankruptcy. You do not...

Gambling Debt In Chapter 7 Discharge

Posted on December 03, 2008
From time to time I speak with prospective bankruptcy debtors who have accumulated gambling debts. Some of these callers have borrowed large amounts of money on their credit cards to fund their gambling enterprises. The issue is whether money borrowed...

Bill Introduced To Permit Chapter 13 Debtors To Modify "Upside Down" Home Mortgages

Posted on November 28, 2008
Democratic congressman introduced this week a bill (H.B. 7307) to change Chapter 13 bankruptcy law to permit homeowners to modify the terms and principal balance of their home mortgages. This change in the law would mean that people whose mortgages...

Why Home Loans Should Not Be Reaffirmed

Posted on November 28, 2008
I saw a good blog entry written by San Diego attorney Miachael Doan about reaffirmation of home mortgages.Why Home Loans are not Reaffirmed : Bankruptcy Law Network. I have tried over the years to discourage my bankruptcy clients from reaffirming...

When Is Chapter 13 Better Than Chapter 7 Bankruptcy

Posted on November 23, 2008
The following post is submitted by attorney Kelly Kilpatrick: It?s a tough position to find yourself in ? you?re way over your head in debt and there seems to be no way out, except to resort to declaring bankruptcy. It?s...

Can Debtor Avoid Judgment Lien Existing Prior To Homestead Purchase?

Posted on November 22, 2008
A judgment lien automatically and immediately attaches to any real property the debtor owns in any county where the creditor records a certified copy of the lien. If a debtor owns investment property where a judgment lien is recorded the...

Interesting Question About Homestead Exemption In Bankruptcy

Posted on November 12, 2008
I enjoy getting challenging questions for readers, especially from other attorneys. I write my blog entries for "people" as opposed to attorneys, so I am flattered that any attorney would find my comments interesting. Here?s an interesting email from a...

Make Sure Your The Value Of Your Automobile On Your Bankruptcy Petition Reflects The Depressed Used Car Market

Posted on November 12, 2008
Bankruptcy trustees have in the past determined the value of a debtor?s car by using the average of the wholesale and retail value in the NADA car book (the yellow book). In the past few months car values have plummeted...

Is There A "Hardship Exemption" Under Florida Law?

Posted on November 11, 2008
Florida law has many laws protecting the debtor?s ability to provide for his family. Creditors cannot take a family homestead, and creditors cannot garnish the wages of a debtor who supports a spouse or children. A debtor may own a...

Interesting Homestead Issue In Bankruptcy Court

Posted on November 03, 2008
While waiting my turn in a bankruptcy courtroom I heard a debtor?s attorney and a bankruptcy trustee argue an interesting homestead case. The debtor purchased a single family townhouse as his principal residence. After the moved in he created a...

Is Motor Home Exempt Homestead In Chapter 7?

Posted on November 03, 2008
An asset protection client described the following homestead dilemma. The client lived in a mobile home on a lot he and his family rented in a trailer home park. The mobile home had a motor and was drive able, but...

Availability of Credit Cards After Bankruptcy

Posted on October 22, 2008
A common concern of people considering Chapter 7 bankruptcy is whether they should keep and reaffirm one or more credit cards during bankruptcy. Many Chapter 7 bankruptcy clients believe they need at least one credit card after filing bankruptcy to...

Attorney Helps Re-establish Credit After Bankruptcy

Posted on October 21, 2008
An Orlando attorney contacted me recently to discuss his law practice that focuses on resolving credit report issues and debt collection matters. I was happy to receive his call because many of my bankruptcy clients ask me for assistance dealing...

Are Investments Financed With Consumer Credit Cards Non-Consumer Debt For Means Test Qualification?

Posted on October 15, 2008
We are preparing a bankruptcy for a client whose household income is over $100,000 per year. He does not even come close to passing the means test. The client states that most of credit card debt is for cash advances...

Hiring Debt-Relief Company To Negotiate With Credit Cards

Posted on October 15, 2008
Many prospective bankruptcy clients ask me during their initial consultation whether they should use a company to help them negotiate settlements with credit card companies prior to pursuing Chapter 7 bankruptcy. My experience is that credit negotiation companies can help...

Watch What You Say When You Meet The Bankruptcy Trustee

Posted on October 09, 2008
I tell my bankruptcy clients that when they meet the Chapter 7 Trustee they should answer his questions truthfully and simply, but that they should not volunteer information which is not responsive to questions. Last week, one of my clients...

Debtor's Decision To Surrender Car Was A $1,000 Mistake

Posted on October 09, 2008
A bankruptcy client owned a car with a small car loan. The client had thousands of dollars of equity in a car and stated on his bankruptcy petition that he wanted to reaffirm the loan and keep the car. I...

Company Recommended To Help With Mortgage Workouts

Posted on October 07, 2008
People facing foreclosure occasionally asks me whether they should hire an attorney or a nonlegal company to help them negotiate mortgage modification. I explain that most attorneys, including myself, do not do that type of work and that negotiating a...

Mortgage Foreclosure Mitigation in Final Rescue Bill

Posted on October 05, 2008
I have previously posted on this Blog information about homeowner mortgage benefits in the initial bailout bill that was rejected by the House on September 29, 2008. I have reviewed the final, revised bill signed into law on October 3,...

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