Category: Debt

For Nearly Three Years A Palm Beach County Woman Had Her Account Frozen

A Palm Beach County woman had her bank account frozen for nearly three years. This is until a Broward County circuit judge ordered Bank of America to unfreeze it and BB&T to refrain from the pursuit of collecting funds from her account. Amy Kodsi’s Bank of America account had $720,000 when it was frozen by

Associations Need To Be More Diligent During The Foreclosure Process

Homeowners and condominium associations were doing an adequate job of collecting monies. This is due to them including write-offs that were so troublesome or hard for the association to deal with. This is all before the market crashed in 2008. The court system became highly overwhelmed with mortgage foreclosures. And, unchallenged cases would typically take

South Florida Rentals are Going Sky High

South Floridians are feeling pain when it comes time to pay their landlords. Rent is taking a larger sum out of their paychecks than nearly anywhere else in the country. And, there is no sign of relief in sight. It takes 44 percent of your earnings, typically, to pay rent in South Florida. This is

Second Wave of Foreclosure Hits South Florida

Many residents in South Florida are confronting a new second wave of foreclosures and their consequences. Banks are attempting to secure unpaid mortgage debts from foreclosed homes that were lost years ago. Beginning June 1st Dyck O’neal filed nearly 110 alleged deficiency judgments; it is a Texas-based collection company, in Palm Beach County, 200 in

Southwest Florida Bankruptcy Filings have Lowered Tremendously

A couple of years after the recession, the rate of consumers and businesses filing for bankruptcy have dropped. They have dropped approximately 50 percent in Southwest Florida. Nearly 2,600 companies and residents in Charlotte, Manatee, and Sarasota counties solicited bankruptcy attorneys to defend them against creditors in the last year; this is about half of

New Law Increases Foreclosures in Palm Beach County

July 2014 marks the one-year anniversary of Florida's "Fair Foreclosure Act". The Florida Legislature passed this law requiring, among other things, the plaintiff to confirm in their foreclosure complaint that they are in possession of all the necessary documents to support their case against the defendant. The law also referred to as the "Speedy Foreclosure

Bank of America’s $17 Billion Settlement.

Officials intimately close to the case have stated that Bank of America has come to a record-breaking $17 Billion settlement. The purpose is to conclude the investigation in the role of selling the mortgage-backed securities; prior to the 2008 financial fiasco. Furthermore, an official, who requested to stay anonymous, stated that Bank of America will

Do's and Don'ts of Bankruptcy

Read everything you need to know about Do's and Don'ts of Bankruptcy. DO: Be honest about all of your assets. Even if you think there is a chance that you might lose it, there are probably other ways in which your attorney can prevent that. Or, you may need to come to terms with that

What is Chapter 7 Bankruptcy?

A Chapter 7 bankruptcy comes from the 7th chapter of the bankruptcy code. It is also known as the “liquidation” bankruptcy. This is because the Trustee has to liquidate, or sell, all non-exempt property in order to repay your creditors. The majority of individuals who file for Chapter 7 bankruptcy get the keep their property.

What is Chapter 13 Bankruptcy?

Read the explanation of Chapter 13 Bankruptcy. If your debts are getting out of your control but your income is still more than the median of the state and you have been living in the same state for the past two years, you can still file for bankruptcy. A Chapter 13 bankruptcy was put in