SHOULD I DISMISS MY BANKRUPTCY? Chapter 13 cases are typically a 5 year commitment. 5 years of committing all income to living expenses as budgeted and the plan payments. That means that almost everything has to go perfectly in your life for 5 years in order to make the plan a success. But what […]
Continue reading... June 12, 2013
Rising Home Prices in Jacksonville, FL and Bankruptcy
Rising Home Prices and Bankruptcy With the recent news that home prices were rising, the issues facing the average homeowner when they consider filing for bankruptcy are becoming even more complicated. The median home price was up 15.7 percent to $135,025, while closed sales and pending sales also saw double digit increases — up 11.5 […]
Continue reading... May 31, 2013
HOA Liens and Bankruptcy in Jacksonville, FL
HOA Liens and Bankruptcy I have previously written about stripping off of second mortgages in Jacksonville, FL bankruptcy: https://www.planlaw.com/stripping-second-mortgages-in-jacksonville-chapter-7/ But what about condo and other HOA liens when you file a Chapter 7 or Chapter 13 case? Do the HOA liens get treated the same as a regular second mortgage? Can the lien be stripped […]
Continue reading... May 22, 2013
Individual Chapter 11 v. Chapter 13 – Which one is right for you?
INDIVIDUAL CHAPTER 11 CASE V. CHAPTER 13 CASE Part of every bankruptcy attorney’s job is the proper choice of which Chapter to recommend to a client when the filing of a Bankruptcy case is needed. The Client needs all the information they can get to make an appropriate decision as to whether to file a […]
Continue reading... April 17, 2013
Who is the Chapter 13 Trustee in Jacksonville, FL?
WHO IS THE CHAPTER 13 TRUSTEE? When any potential Chapter 13 client speaks to our office about modifying a mortgage through a Chapter 13 filing or saving other assets, we always talk to the client about making payments through a Chapter 13 Trustee. But who is the Trustee and what are his duties in the […]
Continue reading... March 15, 2013
Tax Refunds and Filing Bankruptcy
Tax Refunds and filing bankruptcy It’s tax season again. That means that Chapter 7 Trustees and the Chapter 13 Trustee are looking for tax refunds from anyone who has filed for bankruptcy. Generally, a tax refund is earned over the course of the prior year and is a pre-bankruptcy asset that must be turned over […]
Continue reading... January 31, 2013
Stripping Second Mortgages in Jacksonville Chapter 7
Stripping Second Mortgages in Jacksonville Bankruptcy I have previously written about modification of Mortgages through Chapter 13 in Jacksonville, FL bankruptcy: https://www.planlaw.com/modification-of-mortgages-in-chapter-13-in-jacksonville-fl/ But some people are not interested in modifying their first mortgage or may have already received a modification and would not be eligible for a further reduction in payments. In […]
Continue reading... December 13, 2012
Guarantor Issues in Chapter 11
Guarantor Issues in Chapter 11 Cases Everything was going so well – you have filed the Chapter 11 case for the corporate debtor and are progressing nicely in the case. Then the main shareholder calls your office in a panic – “I’ve been sued!!!” You immediately start dreaming of huge sanction awards against a […]
Continue reading... November 7, 2012
Modification of Mortgages in Chapter 13 in Jacksonville, FL
Modification of Mortgages through Chapter 13 in Jacksonville, FL In the Jacksonville Division of the Bankruptcy Court, the mortgage modification experiment is about to celebrate its one year anniversary. So how are things going for clients who have attempted to modify loans in Chapter 13 on their principal residences? The results so far have […]
Continue reading... November 2, 2012
The Applicability of the Absolute-Priority Rule to Nonprofit Debtors
The absolute-priority rule was a judicial invention intended to prevent equityholders and secured creditors from colluding to the detriment of unsecured creditors.[1] The Bankruptcy Reform Act of 1978 codified the absolute-priority rule at 11 U.S.C. § 1129(b)(2)(B)(ii), which requires for dissenting unsecured creditors to be paid in full before equityholders may retain property under a […]
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