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Chapter 7
Why hire a bankruptcy lawyer? | Brevard County Attorney
In the Internet era, when bankruptcy forms are available online for free or for very little, many people question the wisdom of hiring a professional for what seems to be a do-it-yourself project. Others may look to a bankruptcy petition preparer to save money. But there are some very compelling reasons for hiring an experienced...
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What happens to a HELOC in Bankruptcy? | Debt Defense Brevard
A Home Equity Line of Credit is a secured loan that acts like an unsecured credit card. Many people took out these “second mortgages” on their homes as a way to convert the home equity into cash while staying in the residence. What happens to your HELOC mainly depends on the Chapter you file. HELOC...
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Are exempt assets still exempt when inherited? Brevard Lawyer
What was exempt before you inherited it may not be after, according to a recent Supreme Court case. Clark et ux v. Rameker et al centered around the Chapter 7 Bankruptcy of Heidi Hefron-Clark and her husband, Brandon. In 2001, the Clarks inherited a $450,000 IRA from her mother. When the couple later filed bankruptcy...
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In April 2014, Detroit’s emergency manager stated that he hoped the city would emerge from bankruptcy later this year. Detroit Bankruptcy In July 2013, the City of Detroit filed for bankruptcy protection under Chapter 9; it was the largest such filing in the country’s history. Although emergency manager Kevin Orr had hoped that the process...
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Behind on car payments? Call our office today.
Recent scheduled meetings of the Bankruptcy Rules Committee were cancelled, apparently due to lack of interest. There had been two meetings scheduled in January 2014, one in Chicago and one in Washington, D.C. According to federal law, meetings may be cancelled if there is a lack of public interest, the Standing Committee sees a need...
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Debt Relief Services in Brevard County
The means test is essentially just another form to file on an already-long list, and has very little, if any, impact on your decision to file Chapter 7 Bankruptcy. The 2005 Bankruptcy reforms While most “reform” legislation is usually a proposed solution to an existing problem, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA,...
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Bankruptcy and Debt Relief Attorney serving Palm Bay
Household debt rose $241 billion in the third quarter of 2013. Analysts at the New York Fed say the 2.1 percent increase was the largest jump since 2007. The debt was primarily mortgage debt and new car loans, which is seen as a sign that consumers are gaining confidence in an improving economy. However, student-loan...
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Behind on car payments? Call our office today.
Sustained high unemployment has permanently changed our economy, and the middle class must change to keep up. This situation is not entirely new; for example, unemployment peaked at 10.8% in 1982. But then, the jobless could count on unemployment benefits and other government benefits to tide them over. The unemployment rate quickly went back down...
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Credit Card Debt Attorney in Melbourne, Florida
Florida has more long-term unemployed workers than almost any other state in the country. A recent report gave more identity to the long-term unemployed, or those who have been jobless for more than 26 weeks. In Florida, Alaska, California, Illinois, North Carolina, New York, Connecticut and Rhode Island, between 46% and 60% of the jobless...
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Bankruptcy Lawyer serving Palm Bay
Assume that you and your neighbor disagree over the ownership of a house, and you file a lawsuit to quiet title. Before the case is heard, the house burns down. What happens at the court date? Most courts have refused to enter a decision in this situation, explaining that the point is now moot because...
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