|
||||||||||||||||||||||||||
|
||||||||||||||||||||||||||
 |
||||||||||||||||||||||||||
|
||||||||||||||||||||||||||
 |
||||||||||||||||||||||||||
Many of you facing bankruptcy for the first time will have a lot of questions about the process. One such common question is, “What happens to your savings and checking accounts in bankruptcy?”
The answer to this legitimate question will vary from state to state, and it will also depend on the type of bankruptcy you file.
There are basically two types of bankruptcies most individuals can file- a Chapter 7 or a Chapter 13. Continue reading
Why Would you Need to Negotiate a Lower House Payment?
If you bought your home in the beginning part of the 21st century or earlier, recent changes in the housing market may have you, like many other people, in a tough financial situation for a couple of reasons:
Higher interest rates
Interest rates have generally declined in the past few years, setting record lows that have not been seen for 40 years or longer. If you are still paying a monthly mortgage based on a high interest rate, it means you are making a higher payment than you would be paying if you financed your home today. Continue reading
A bankruptcy, by law, can be reported and posted in all of your credit agency reports for up to 10 years. This information is public information. Anyone wishing to pay for the services of a credit reporting agency can view the records.
Employers who specialize in the handling of money, like banks and accounting firms, might run a credit check on you to see if you are the type who can handle money. A bankruptcy found on your credit report may possibly influence the potential employer in whether or not they will hire you. So, how will a five year old bankruptcy affect a job background check? Continue reading
With the U.S. finally recuperating from the economic crisis, many consumers nowadays would like to take on mortgage modification. If you acquired a financing or mortgage and you need to obtain a clear chance at a better repayment deal, hiring a loan modification attorney must be your major objective.
What’s mortgage modification?
Mortgage modification or mortgage modification is restructuring repayment terms and conditions set on a mortgage. Restructuring could mean having to pay lower interest rates and going through extended payment periods. At face worth, lots of people might speculate about its functionality given that you pay longer than expected. 
The accurate worth, however, is at a person’s payment capacity and fundamental monetary implications. Continue reading
You have just obtained a complaint: your loan provider is going to foreclose your home. What does one do now? Calling on your loan modification lawyer can guide you on what you’ve got to perform next. Likely, you may have to try foreclosure defense. This concerns guarding your home against your loan company. Just before you carry on, consult your attorney to explain what foreclosure defense is all about. You can also ask your lawyer to file a Motion to Dismiss.
In 23 U.S. states, the foreclosure process is done under the watch of a judge. Throughout the procedure, lenders are required to show evidence that they’ve the right to foreclose your property. This gives your loan modification lawyer an opportunity to look at your Continue reading
Many of you who are facing bankruptcy for the first time might ask the question, “Can you get unpaid child or spousal support discharged in a bankruptcy?” The immediate answer to the question is that any unpaid support payments you have been rendered by a court of law to pay, like child support or alimony, cannot today be reduced in bankruptcy.
Prior to the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005, child and spousal support were categorized as a level seven priority in bankruptcy. Bankruptcy courts prioritize the order in which they will pay creditors in all bankruptcy cases. Continue reading
Many of you who are first time filers have all kinds of questions to ask about bankruptcy. One question that keeps cropping up is, “How long do you have to live in an area in order to file for bankruptcy?
Like most bankruptcy questions, since bankruptcy laws are so complicated, the answer is not as simple as the question seems.
The state in which you should file is a little more simple. Sub-chapter 1408 of the Title 11 U.S. Bankruptcy Code determines which state you should file. This statute states that you Continue reading
This personal bankruptcy question was posted on the internet in 2011 as comments in a bankruptcy discussion: “I want to file bankruptcy but I have a personal injury case pending, and I believe I am going to get a big settlement from that case. What will happen to my settlement?”
Deciding what will happen to a personal injury settlement in bankruptcy cases depends on the state in which you live when you file and what type of bankruptcy you file. Filing for bankruptcy protection normally occurs when you as a debtor are bankrupt and have a need to end bad financial situations, stop collection activities, or protect your assets. Continue reading
The bankruptcy law privies that a debtor may file bankruptcy in any federal district in which the debtor’s domicile, place of business, or principal assets have been located for the greater part of the preceding 180 days. The law does not state a debtor may file wherever he owns property or has a residence. Filing is permitted where the debtor owns most of his property and where he primarily resides. Client could not file bankruptcy in Florida if most of the client’s assets have been relocated in Ohio.
The general rule gives some debtors a choice of where to file bankruptcy. For example, a debtor who resides in Ohio and runs a business in Florida, or has most of his assets in Florida, may chose to file bankruptcy in either Florida or Ohio. is subject to court discretion to maintain a bankruptcy filed in the incorrect venue for reasons such as convenience of parties or case administration.
Contact us for a FREE consultation – Jonathan Kline P.A.
Chapter 13 debtors can cram-down the value of mortgages on properties other than their principal residence. The debtor initiates the process by filing a motion to value the underlying property. If the property is under water the court will modify the mortgage to reduce the loan balance to the current property value.
A Florida bankruptcy court considered a motion to value on a debtor’s duplex. The debtor lived in one unit and rented the other unit. The issue was whether the property Continue reading
At the Weston, FL law offices of Jonathan Kline, we serve clients throughout South Florida, including Weston, Miami, Fort Lauderdale, Hollywood, Pines, Miramar,
West Palm Beach, Boca Raton, Tampa, Orlando, Jacksonville, Panama Beach, Broward County, Miami-Dade County, and Palm Beach County.
We can represent you in any county throughout Florida.
 |
