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Fleysher Law Blog

House is Underwater

Options for Florida Homeowners with Homes that are “Underwater”

What are your Options if your House is Underwater? More and more Floridians are coming to the unsettling realization that their homes are now worth less than they owe on their mortgage(s). This unfortunate scenario is commonly referred to as your house being “underwater.” One of the most common questions that clients ask is “What are my options if my house is underwater?” Generally, the answer is that you have

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Is the U.S. Headed Toward Bankruptcy?

Presidents have been warning for decades of the dangers of this country’s debt and deficits. But the big question is why this time is different? Is this the year we finally start to get our nation’s finances in order? Or, is the U.S. headed towards bankruptcy? One argument is that with the current President and Congress, it does not seem likely. Either way, it is going to be a very

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Consumers Seeking Bankruptcy Advice on Avvo.com Reaches All-Time High

Avvo, Inc.’s latest Avvo Legal Advisory shows that bankruptcy is one of the top legal topics for many in the United States. Questions in Avvo’s Q&A forum regarding bankruptcy reached an all-time high. Despite research from the National Bankruptcy Research Center stating that U.S. personal bankruptcy filings decreased by 13% in the first half of this year, consumers asked nearly 10,000 bankruptcy-related questions on Avvo.com. And that is during the

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How Many Times Can You File Chapter 7 Bankruptcy?

Chapter 7 exists to help you get out of debt quickly and easily. It is easy to file for Chapter 7 bankruptcy and you can do it hundreds of times. However, the issue is whether you can get a discharge of your debts. The U.S. Bankruptcy Code places limits on how often you can get a discharge. Under the Code, you must wait 8 years from the time you first

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The Unaffordable Bankruptcy

Believe it or not, there is such thing as an unaffordable bankruptcy. For many people, Bankruptcy can be a path to salvation. However, sometimes there are situations or people with particular financial goals in mind for whom bankruptcy may not work. For example, a situation may occur where the debtor has an asset that he wishes to keep but which would be sold in a chapter 7 case. Because he

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Does Florida Have a Culture of Delinquency?

A new report from real estate services provider Zillow found that while Florida is not the worst state for negative equity. In fact, Florida’s borrowers have disproportionately high delinquency rates on their loans. In Miami-Ft. Lauderdale, 43.7% of borrowers are underwater, while 24.9% of them have missed at least three months of payments. In Tampa, where 46.6% are underwater, 17.6% haven’t made payments for three months. In Orlando, it’s 51.9%

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Wage Exemption

Florida’s Wage Garnishment Exemption Applies in Bankruptcy

Florida’s Wage Exemption Statute provides protection for those who meet the definition of “head of a family”. And, who are facing a judicial garnishment or filing for bankruptcy. A head of a family who pays for more than 50% of a dependent’s living expenses cannot go through garnishment. This is if their net income after deductions is less than $750 per week. If the head of a family earns more

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Shooters

Shooters Will Remain Open Despite Chapter 7 Bankruptcy

Back in March of 2012, two companies associated with waterfront restaurant Shooters filed Chapter 11 bankruptcy. Roscoe, LLC (DBA Shooters) and BIMA, LLC filed for bankruptcy protection following a $10.5 million foreclosure lawsuit filed by FirstBank against BIMA, LLC; the company that owns the property that both Shooters and Bootleggers sit on. About a month later, Shooters owner John Wile filed for personal Chapter 11 bankruptcy protection. Chapter 11 bankruptcy

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Emil Fleysher Quoted in Recent Report on CoreLogic CoreScore Model

A recent article written by CreditCards.com reporter Kelly Dilworth quotes several resources; including Emil Fleysher in discussing the potential effects and implications of the new CoreScore model of credit reporting from Core Logic. Emil Fleysher has previously written 2 articles on the topic that you can find on FleysherLaw.com Blog. To read the full article please visit the following link… FICO introduces new, less traditional credit score If you have

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final judgment

What is a “Final Judgment” and why should I care?

A final judgment is the Judge’s final decision in a case as recorded in the files stored in the Office of the Clerk of Courts. The name for the party that sued you and obtained the judgment is “judgment creditor.” The judgment creditor can obtain the right to proceed against your property through a writ of execution, garnishment, or other judicial processes. A judgment becomes a lien when a certified

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