Month: May 2012

TBE Pitfall in Florida Bankruptcy Law

Written By: Emil Fleysher | May 14, 2012 | Bankruptcy
In Florida, there exists an exemption in bankruptcy called Tenancy by the Entirety (TBE). TBE is a collection of property that can only exist between a husband and wife where both spouses own and control the entire collection. This property is exempt from creditors who own an individual debt in one of the spouse’s name.
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Lien Stripping on TBE Property in Chapter 13

Written By: Emil Fleysher | | Bankruptcy
When deciding whether to file a Chapter 13 Bankruptcy together with your spouse, there is a new interesting factor to consider. In a recent case, the next thing happened. Judge Cristol denied a Chapter 13 Debtor the ability to strip a lien off of his home. Lien stripping is a great benefit of Chapter 13.
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Stripping an Unsecured 2nd Mortgage in Chapter 7 Bankruptcy. Can it be?

Written By: Emil Fleysher | | Bankruptcy
Previously, lien stripping was something that could only be done in Chapter 13. However, a recent opinion from the 11th Circuit has changed that rule. Here, a Chapter 7 debtor in Georgia sought to strip off a second mortgage that was totally unsecured. The 11th Circuit reversed the Bankruptcy Court. And, they found that the
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What does it mean to "surrender" your home in bankruptcy?

Written By: Emil Fleysher | May 9, 2012 | Bankruptcy
When you surrender your home, that is assets or belongings in Chapter 7 Bankruptcy, you’re doing nothing more than indicating a willingness to let it go. You’re not actually giving it away to anyone. By filing for Chapter 7 Bankruptcy, you are attempting to discharge your obligation to pay certain debts. In return, you agree
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