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Category Archives: Bankruptcy
For sale: underwater homes in Orlando bankruptcy court – banks get them cheap!
A bomb was dropped today on a roomful of Orlando bankruptcy lawyers who were attending the Central Florida Bankruptcy Law Association’s annual seminar. The newsflash deals with what mortgage companies are doing to snatch the homes of families who are seeking debt relief in chapter 7 bankruptcy court. It all has…
Orlando foreclosure and filing bankruptcy – saving a home
Orlando home foreclosures and Orlando bankruptcies have been the subject of a lot of news. As with many topics of widespread interest, misinformation and myths have sprouted regarding what a bankruptcy can do for homeowners going through a mortgage foreclosure. Today, a very distressed couple consulted with me regarding their…
Retirement accounts are safe in bankruptcy court
Senior couple on boat with mountains in background taking Savings for retirement, in the form of 401(k), IRA, and other government sponsored savings accounts, are for most people their most precious financial asset. That is why the bankruptcy laws give special protection to these savings accounts.…
Marriage, Death and Bankruptcy in Orlando
I have previously written about the effect of marriage and divorce on debts and the ability to discharge them in a chapter 7 bankruptcy. A recent case decided in the Middle District bankruptcy court in Orlando shows how the death of a spouse may affect…
Keeping a car in bankruptcy – how not to buy a car for your child
When I consult with Orlando families who are considering bankruptcy to resolve their financial crisis, they are often interested in knowing whether they can keep a car, truck, motorcycle, or other motor vehicle that they believe is owned by their children out of the bankruptcy…
Bankruptcy and Orlando Business Owners – Can I keep business?
Small business owners in Orlando frequently consult with me, many of whom are suffering from financial distress as a result of the economic downturn. Their greatest concern is often the effect that filing a bankruptcy will have on their company. Here is what the small business…
How to File bankruptcy without my spouse?
A frequent question that I receive from married people who are are thinking about a bankruptcy to re-organize their finances is: can I file a bankruptcy without my spouse? The answer is: Yes! The bankruptcy code permits a married person to file a bankruptcy petition without their…
New bankruptcy laws increase cost of filing bankruptcy
In 2005, Congress made significant changes to the bankruptcy code, which were designed to make it more difficult for consumers to get debt relief. These new standards made bankruptcy law more complicated and challenging for consumers and the attorneys who assist them. After this law…
More retirees seeking bankruptcy protection
A recent study by the Administrative Office of the United States Courts shows a significant increase in bankruptcy filers over the age of 55. Between 2002 and 2007, the number of these filers grew by 61%. The study, which was published in the September 2010 issue of ABI…
Will Orlando bankruptcies increase during 2017?
The executive director of the prestigious American Bankruptcy Institute predicts that consumer bankruptcy filings will increase during 2011. In a press release issued on January 3, the executive director of ABI, Samuel J. Gerdano, states: “The steady climb of consumer filings notwithstanding the 2005 bankruptcy law restrictions…
Love and Marriage, Debt and Divorce
Two individuals recently consulted with me, both whom had waited too late to speak with a bankruptcy attorney. One had recently married, one had recently divorced. Both of them had substantial debt that they needed to erase to create a fresh start for their financial…
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