Debt Archives | Page 2 of 9 | Emil Fleysher, P.A.

Second Wave of Foreclosure Hits South Florida

Emil Fleysher September 11, 2014

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 Miami-Dade County, and 300 in Broward County. There is a belief that because the deadline

Southwest Florida Bankruptcy Filings have Lowered Tremendously

Emil Fleysher September 10, 2014

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 the bankruptcy filings in 2010. Unfortunately, it is still 500 more bankruptcies filed than when

New Law Increases Foreclosures in Palm Beach County

Emil Fleysher September 9, 2014

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 Act” went into effect on July 1, 2013. July 2014 foreclosure filings were only increased

Bank of America’s $17 Billion Settlement.

Emil Fleysher September 5, 2014

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 come forward with $7 billion in consumer relief. And, $10 billion in cash. In the

Do’s and Don’ts of Bankruptcy

Emil Fleysher August 29, 2014

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 possibility. If you don’t list it and the court finds out, they will take it.

What is Chapter 7 Bankruptcy?

Emil Fleysher August 27, 2014

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. However, there are some states that are more charitable than others. The process normally takes

What is Chapter 13 Bankruptcy?

Emil Fleysher August 27, 2014

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 place for those who still have some “disposable” income. Even after paying all their expenses.

No Shame in Filing for Bankruptcy

Emil Fleysher August 26, 2014

There is no shame in filing for bankruptcy. From a young age, people are persuaded by means of seductive language and/or highly skilled advertising techniques to purchase products and services deemed essential for their lives; even if those products or services are out of their financial reach. Many of our leaders have told us that it is our patriotic duty to spend. And, you need look no further than former

FHA Mortgage Applicants with Recent Foreclosures Offered a Pass

Emil Fleysher October 23, 2013

The Federal Housing Administration (FHA) has instituted a new program. Its name is “Back-To-Work-Extenuating Circumstances” to assist potential borrowers who faced financial hardship during the recession. This program, which began August 15th, 2013 provides a second chance for mortgage applicants. For those who have experienced financial hardship such as unemployment. Or, a severe reduction in income beyond the borrower’s control. The purpose of this program is to assist borrowers with

Former Miami Dolphins QB Daunte Culpepper Surrenders Florida House in Foreclosure

Emil Fleysher July 31, 2013

Daunte Culpepper’s 2006 signing with the Miami Dolphins was so disastrous that the repercussions are still being felt. In a foreclosure case, the former NFL quarterback has lost a home. He bought it for about $3.6 million back when he was traded to the Dolphins. Daunte Culpepper surrendered the nearly 10,000-square-foot home to SunTrust Bank back in April in lieu of foreclosure, Broward County court records show. And, the bank

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