Chapter 7 vs 13 and what factors to consider: Means Test: Household Income & Size When Debtors have income higher than Median, then a “long form” is needed. The Long Form Means Test considers types of debt, pay deductions, living expenses and other necessary living expenses. Any special circumstances to support that a Chapter 7…Continue Reading
BANKRUPTCY IMPACT ON PI CLAIMS
This article is intended to help the Personal Injury Attorney whose client has filed a Chapter 7 Bankruptcy in Florida. I hope to help you understand the impacts of the bankruptcy filing on your case. Bankruptcy debtors should discuss any questions they have with their bankruptcy attorney. MY PI CLIENT FILED BANKRUPTCY… NOW WHAT? A…Continue Reading
Florida Chapter 7 Consumer Exemption Traps and Escape Hatches CFBLA 11/17/22
Homestead Fla. Const. Art X §4(a)(1) Fla. Stat. Ann. Secs 222.01 & 222.02; Fla. Stat. Ann. §222.05 Limits: ½ acre in city limits or 160 acres unincorporated county. Check the county property appraiser’s website. They differ from each other but will indicate things like: Orange County: Municipality: “Un-incorporated” or City NameSeminole County: Tax District: “County”…Continue Reading
Anatomy of a Chapter 13 Proceeding
Very often I will sit down with a new consult and one of the first things they say is “I want this to be a Chapter 7, I don’t want Chapter 13.” I always then ask “Why do you say that?” because the answer gives me insight into what they have already learned (either through…Continue Reading
Florida Supreme Court Changes Bankruptcy Law in Florida
Until July 1, 2007, the value of personal property a bankruptcy debtor was allowed to keep and tell their creditors to go jump off a bridge was really low, $1,000 per debtor and another $1,000 specifically for car equity, if any. Compared to the rest of the nation, this was virtually nothing. Sure, there is…Continue Reading
The Underwater Florida Home and The Wildcard Exemption
One thing I enjoy about practicing bankruptcy law is the predictability and mechanics of the practice and the process. One very big exception at the moment is how we should be treating the client’s Florida home that is worth less than what is owed, but that they want to keep. Before anyone could imagine a…Continue Reading
Bankruptcy Considerations in Divorce
I recently agreed to speak on the topic of bankruptcy considerations in divorce at a seminar for family law attorneys. This is a copy of my portion of the outline to be included in the materials. It’s choppy because it’s just an outline, but hopefully will have something you will find useful. Options for dealing…Continue Reading
Same Gender Married Couples Can Now File Joint Bankrutpcy
The Associated Press published an article July 8, 2011 stating “Federal officials no longer plan to contest joint bankruptcy pleadings brought by legally married same-sex couples.” The article then goes on to explain the position shift and the story of the married men in California that were the subject of the case that brought the…Continue Reading
Just Say ‘No’ to Friends and Family Preference
One of the first questions any good bankruptcy attorney will ask during a consultations is if a client’s debt includes debt owed to friends or family members, and if debt has been paid to friends or family members in the last year. This is very important because you cannot pick and choose who you will pay…Continue Reading
What Happens to Divorce Debt in Bankruptcy?
Bankruptcy can be complicated all on its own, but things can get even more tricky when you throw in the fact that it has already been addressed in a divorce. There are two categories of “divorce debt” in bankruptcy: “support” and “debt owed to a spouse, former spouse, or child of the debtor and not…Continue Reading