Category: Bankruptcy

Does a W2-G for Gambling Count as Income in Bankruptcy?

If you've received a W2-G form for gambling winnings, you may wonder how these earnings are treated in bankruptcy proceedings. It is crucial to review what W2-G income is, how bankruptcy courts handle gambling winnings, and the impact of a history of gambling on a potential bankruptcy case filing. We'll also delve into the differences

Is Debt Discharged in Bankruptcy Subject to Income Tax? Understanding the Tax Implications

Filing for bankruptcy can offer much-needed relief for individuals drowning in debt, but concerns about potential tax consequences may linger. One common question that arises is whether debt discharged in bankruptcy is subject to income tax.  At Fleysher Law, we advocate for our clients' needs. We will explore this topic and clarify the tax implications

Can I Keep My Boat in Bankruptcy? Understanding Florida's Boating Culture and Bankruptcy Laws

In the Sunshine State of Florida, where waterways weave through its picturesque landscapes, boating isn't just a pastime—it's a way of life. From leisurely cruises along the coast to thrilling adventures on wave runners and jet skis, many Floridians embrace the boating lifestyle.  However, if financial troubles arise and bankruptcy becomes a consideration, boaters may

How Bankruptcy Affects Cosigners: Understanding the Co-Debtor Stay and Credit Implications

Bankruptcy can be a challenging process for individuals facing overwhelming debt, but it's essential to understand how it can impact cosigners, cosigners, and co-borrowers. Next, we'll explore how bankruptcy affects cosigners, the concept of the co-debtor stay, and clarify the credit implications for non-filing co-borrowers. At Fleysher Law, we are here to advocate for our

Is Now a Good Time to File Bankruptcy? Understanding the Timing Factors

Deciding when to file for bankruptcy is a significant decision that can have long-term implications for your financial future. Many factors can influence the timing of a bankruptcy filing, including seasonal income, outstanding debts, pending lawsuits, inheritance, and more. At Fleysher Law, we are here to help you find the right decision for your financial

Why So Many People Refuse to Consider Bankruptcy (Even When They Should)

Hello, I’m Emil Fleysher, a Florida bankruptcy lawyer and the owner of Fleysher Law, PA. I’m licensed in Florida and Texas and have been practicing exclusively in bankruptcy law for over 15 years. Over the years, I’ve spoken with thousands of people drowning in debt who were still hesitant to explore bankruptcy as a solution.

What is the Largest Difference Between Chapter 7 and Chapter 13 Bankruptcy

Fleysher Law Bankruptcy & Debt Attorneys helps you understand the differences between Chapter 7 bankruptcy and Chapter 13 bankruptcy. We work with you to evaluate your financial situation, including the amount of unsecured debt and secured debts, and determine which option is best for you.  The two most common types of bankruptcy are Chapter 7 and Chapter 13.

Non Exempt Assets Chapter 7

When filing for Chapter 7 bankruptcy, many individuals hope to keep some of their property. However, not all assets are protected under bankruptcy law. Non-exempt assets are those that may be sold to pay off debts. Fleysher Law Bankruptcy & Debt Attorneys help you know which assets may be sold and which are protected. We

What Is a 341 Meeting?

What Is a 341 Meeting of Creditors? A 341 meeting is a required part of the bankruptcy process. It’s where the bankruptcy applicant meets with the bankruptcy trustee and creditors. This meeting allows everyone to ask questions about the bankruptcy filing. Fleysher Law Bankruptcy & Debt Attorneys help you prepare for your 341 meeting. We

How Is Chapter 13 Payment Calculated

If you’re filing for Chapter 13 bankruptcy, it’s important to understand how your monthly payments are calculated. The amount you’ll pay each month is based on your income, expenses, and the type of debts you owe. These payments are made to a bankruptcy trustee, who will then distribute the funds to your creditors. Fleysher Law