Category: Bankruptcy

Personal Bankruptcy

What Are the Rules of Personal Bankruptcy? Filing for personal bankruptcy is an option to provide some financial relief. Before deciding to file for it, there are some questions that need addressing about your income, your position under the bankruptcy laws, and the expenses you should continue to keep paying. In 2005, new bankruptcy legislation

What is Chapter 13 Bankruptcy?

Those who have regulated income can file Chapter 13 bankruptcy to create a repayment plan for all or part of their debt. In Chapter 13, debtors propose a plan that includes making installment payments to their creditors between three to five years. If the debtor’s current income is less than the state median, the plan

FIVE Common Myths Associated with Bankruptcy

Filing for bankruptcy may help you get relief from your debt and will have a significant impact on your financial life. Depending on your goals and circumstances, bankruptcy may be the most viable option for resolving your debt and starting fresh. However, there are several common myths and misconceptions many people have when it comes

Steps of Filing For Bankruptcy

There’s a lot to consider if you find yourself in a situation where filing for bankruptcy might be an option. Your questions, stress levels, and worry will overwhelm you. You need to evaluate all your options to understand what bankruptcy will and won’t do for you while also preparing for the consequences. Should you decide

Difference between Chapter 7 and Chapter 13 Bankruptcy

While most people are familiar with bankruptcy, many do not know the differences between the types. The experienced bankruptcy attorneys at The Law Offices of Emil Fleysher, P.A., are here to demonstrate the differences between Chapter 7 and Chapter 13 bankruptcies as well as the options you have when filing. What Are the Differences Between

WHY WOULD I FILE CHAPTER 13 IF I QUALIFY FOR CHAPTER 7?

When both Chapters of bankruptcy are available in Florida, Chapter 13 bankruptcy may present some unique advantages over Chapter 7. What is Chapter 13 Bankruptcy? Bankruptcy is a legal process that helps those who are in debt while also assuring some degree of fairness to all parties involved. For the majority of people, bankruptcy is

How Will Filing Bankruptcy Affect My Chances of Getting a Mortgage or Refinance?

Many clients have been asking lately about how filing bankruptcy will affect their options with regard to obtaining a mortgage or refinance. The short answer is that "it depends." What does it depend on? 3 things... (1) whether your case was filed as a Ch. 7 Bankruptcy or as a Ch. 13 Bankruptcy; (2) whether

Bipartisan Student Loan Bankruptcy Bill Introduced

The Fresh Start Through Bankruptcy Act would change the bankruptcy code to make it easier to discharge student loans under certain conditions. Senators Richard Durbin (D-IL) and John Cornyn (R-TX) are the bill's sponsors (R-TX). Undue Hardship While it is not impossible to discharge student loan debt through bankruptcy under existing law, it can be

Auto Refinance in Ch. 13

If you have recently been denied an auto refinance loan because (1) your credit score was too low; or (2) because your car is worth less than the current loan balance; or (3) because your car is too old, you may have another option... What is Ch. 13 Bankruptcy? Ch. 13 is a type of

Supreme Court Declares 2nd Liens Can't be Stripped in Chapter 7 Bankruptcy

Banks win out after the Supreme Court ruled on Monday. They state that homeowners cannot rid themselves of a second mortgage by filing for bankruptcy protection. All nine Supreme Court justices unanimously agreed that filing for Chapter 7 bankruptcy will not void a junior mortgage lien. This is when the amount owed by the senior