All items from The Florida Bankruptcy Law Blog

Business Bankruptcy Location: Where Can A Business File?

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...



From The Florida Bankruptcy Law Blog
Posted 41 weeks 23 hours ago

Does Pre-Bankruptcy Planning Permit Transfer Of Car Title To Spouse

Bankruptcy debtors use their $4,000 wildcard exemptions most often to protect cars. The debtor can apply the wildcard only to cars in the debtor's name. For example, if a married couple is considering Chapter 7 bankruptcy and both of the...



From The Florida Bankruptcy Law Blog
Posted 43 weeks 1 day ago

Chapter 13 Bankruptcy Strips Second Mortgage Notwithstanding Prior Chapter 7 Discharge: Court Holds

Chapter 13 bankruptcy offers debtors the opportunity to strip off a wholly unsecured second mortgage on their primary residence. Most courts have held that debtor’s mortgage is stripped from his house when he completes the Chapter 13 plan and gets...



From The Florida Bankruptcy Law Blog
Posted 44 weeks 1 hour ago

Homestead Exemption For Chapter 7 Clients' Motor Home

One of my Chapter 7 clients has an interesting living situation. The couple sold their home when the husband retired and purchased a motor home. The motor home which can park on a rental lot and hook up to utilities....



From The Florida Bankruptcy Law Blog
Posted 44 weeks 5 days ago

Car Purchased For Another Family Member Still Included In Bankruptcy Estate

People often buy cars for their children or for an elderly parent. When they do so, some of these people put their own names on the car title to get lower insurance rates or to reflect their own contribution to...



From The Florida Bankruptcy Law Blog
Posted 45 weeks 5 days ago

Homestead Can Be At Risk To Investors When Chapter 7 Debtor Chooses Wildcard Exemption

Real estate investors and some bankruptcy trustees are looking for ways to make money off your upside down homestead. Many Chapter 7 debtors with upside down homesteads do not utilize their homestead exemption on their bankruptcy petition because there is...



From The Florida Bankruptcy Law Blog
Posted 46 weeks 5 days ago

Bankruptcy Attorney Skewered By Court For Inadequate Compensation Statement

Bankruptcy attorneys are required to file a statement of compensation for each bankruptcy case. The statement discloses all forms of past, present, and future compensation. If they charge a client additional fees after the case is filed the attorney is...



From The Florida Bankruptcy Law Blog
Posted 48 weeks 1 day ago

Chapter 7 Bankruptcy Debtors Face Eviction From Upside Down Homestead As Investors Circle Above

As the real estate market begins its recovery some real estate investors are showing an interest in acquiring houses involved in bankruptcy. One of my clients filed a joint Chapter 7 bankruptcy and indicated he would surrender his interest in...



From The Florida Bankruptcy Law Blog
Posted 49 weeks 1 day ago

Pre Bankruptcy Planning Can Include New Debt For Proper Purpose

A common question during a pre-bankruptcy meeting with a bankruptcy client is whether a debtor can incur any new debt between the time he first meets his bankruptcy attorney and the filing date. The answer has two parts. You cannot...



From The Florida Bankruptcy Law Blog
Posted 50 weeks 1 day ago

Means Test Calculations Not Helped By Borrowing From Debtor's Own 401 K

The means test allows debtors an deduction and income offset for secured debt payments. The greater amount of monthly secured debt payments the more likely a debtor is to pass the means test. One of my bankruptcy clients suggested increasing...



From The Florida Bankruptcy Law Blog
Posted 50 weeks 6 days ago