1099 FORMS AND FILING FOR BANKRUPTCY With 2013 behind us, many people are starting to think about filing taxes for the 2013 tax year. In connection with tax season, our office has noticed a great increase in the number of 1099 forms arriving from mortgage lenders. These forms can have no tax effect or can […]
Continue reading... January 29, 2014
Wells Fargo and the administrative hold after filing for Bankruptcy
WELLS FARGO BANK AND THE FREEZE ON BANKRUPTCY ACCOUNTS I’ve been meaning to write about this issue for some time, but it gets pushed to the side to deal with more current issues usually. However, just when I think that Wells Fargo has ceased to be a problem in Bankruptcy, the “administrative hold” on […]
Continue reading... January 20, 2014
Job Searching and Bankruptcy Filings
EFFECT OF BANKRUPTCY ON JOB SEARCH Bankruptcy and foreclosure have long been recognized as severe drags on a person’s credit report score. A typical foreclosure filing against an individual can drag that individual’s credit score down by 250 points for 7 years. A bankruptcy filing will have the same immediate impact. However, in the […]
Continue reading... December 30, 2013
Bankruptcy Predictions for 2014 and Beyond
BANKRUPTCY PREDICTIONS FOR 2014 . . . AND BEYOND With 2013 behind us, it is time to look ahead to what 2014 will bring to the Bankruptcy World. First, a look at 2013. Filings in the Jacksonville Division continued the decline that started in 2010. 2013 filings were down 8% from 2012 levels and […]
Continue reading... December 19, 2013
Inherited IRAs and Chapter 7
INHERITED IRA’S TARGETED BY CHAPTER 7 TRUSTEES AND POSSIBLY A GREATER NEED FOR CHAPTER 13 With the coming wave of Baby Boomer inheritance issues, one situation has suddenly taken on new urgency. Most people who are near retirement age or have already retired were gradually shifted from traditional pension plans into an IRA or […]
Continue reading... December 13, 2013
Rocket Docket in Foreclosure in Jacksonville, FL and a Greater Need for Chapter 13 Bankruptcy
RETURN OF THE FLORIDA ROCKET DOCKET IN FORECLOSURE AND A GREATER NEED FOR CHAPTER 13 Six months ago, House Bill 87 became the new foreclosure law in Florida. This marked the return of the so called “Rocket Docket” to foreclosure in Florida Courts. It is interesting see the effect of this bill after 180 […]
Continue reading... December 2, 2013
Is the American Dream Dead in Jacksonville, FL?
IS THE AMERICAN DREAM DEAD IN JACKSONVILLE, FLORIDA? Interesting news out of Jacksonville, FL and the foreclosure/bankruptcy area. Recently, a local real estate survey showed that Jacksonville, FL had one of the highest rates of institutional investors purchasing properties in the Nation. Markets with the highest percentage of institutional investor […]
Continue reading... October 18, 2013
Can One Mistake Lead to Filing Bankruptcy?
CAN ONE BAD DECISION LEAD TO FILING BANKRUPTCY? Lately, our office has noticed a new trend: Bankruptcy filings for people with only one bad debt. How is this possible? Doesn’t the normal bankruptcy filing result from years of financial problems finally becoming too large to deal with any longer? Not necessarily. With the financial […]
Continue reading... August 21, 2013
ObamaCare and Bankruptcy
WILL OBAMACARE CURE MEDICAL BANKRUPTCIES? During the next year, the Affordable Care Act will begin to be fully implemented. This massive piece of legislation will change healthcare in this Country dramatically in many ways. One of the biggest questions that remains unanswered is whether this change in healthcare law will reduce the instance of […]
Continue reading... August 9, 2013
Bankruptcy and Judgments
Judgments and Bankruptcy Did you know that a judgment against you could result in loss of vehicles, a lien on your homestead, levy on your bank accounts and even garnishment of your wages? All of these things can happen if you have a judgment against you and take no action. Often, potential clients will come […]
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