Saving Your Home from Foreclosure

By |2020-09-01T17:00:25+00:00September 1st, 2020|Uncategorized|

Chapter 13 bankruptcy is often used to save a home or investment property from foreclosure. Generally upon the filing of a chapter 13 case, foreclosure cases are generally stopped and a person is given the opportunity to propose a chapter 13 plan to save their home from foreclosure. Reinstate Mortgage Under a chapter 13 plan, you may propose to catch up their mortgage payments over a period of up to 60 months.  For example, if a person is behind $10,000 in payments and their [...]

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Modification of Chapter 13 Plan

By |2020-08-25T15:37:18+00:00August 25th, 2020|Uncategorized|

On August 25, 2020, the 11th Circuit Court of Appeals issued its decision in the case of Whaley vs. Guillen (In re: Guillen), No. 17-13899 (11th Cir. 2020) in which the court dealt with an important issue with regard to the requirement to modify a chapter 13 plan. Section 1329 of the Bankruptcy Code provides for certain requirements to modify an already confirmed chapter 13 plan. The 11th Circuit rejected the chapter 13 trustee's argument that the debtor need show a change in circumstances [...]

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Su informe de crédito después de la bancarrota

By |2020-06-07T16:45:39+00:00June 7th, 2020|Spanish|

Los informes de crédito deben ser actualizados por los acreedores y agencias de informes de crédito después de una declaración de bancarrota o descarga para reflejar que las deudas han sido liquidadas. Bajo la Ley de Informes de Crédito Justo. los acreedores y las agencias de informes de crédito están obligados a informar información precisa y completa. ¿Cuánto tiempo en mi informe de crédito? En general, la presentación de un caso de bancarrota puede ser reportada en un informe de crédito por hasta 10 [...]

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Salvar su Casa de Foreclosure

By |2020-06-07T16:06:19+00:00June 7th, 2020|Spanish|

La bancarrota del Capítulo 13 se utiliza a menudo para salvar una casa o propiedad de foreclosure. Generalmente tras la presentación de un caso del capítulo 13, los casos de foreclosure se detienen y un persona tiene la oportunidad de proponer un plan del capítulo 13 para salvar la casa de foreclosure. Restablecer hipoteca Bajo un plan del capítulo 13, un persona puede proponer ponerse al día con los pagos de su hipoteca durante un período de hasta 60 meses. Por ejemplo, si una [...]

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Your Credit Report After Bankruptcy

By |2020-06-06T16:33:58+00:00June 6th, 2020|Uncategorized|

Credit reports should be updated by the creditors and credit reporting agencies after a bankruptcy filing or discharge to reflect that debts have been discharged. Under the Fair Credit Reporting Act. creditors and credit reporting agencies are required to report accurate and complete information. How Long on My Credit Report ? In general, the filing of a bankruptcy case may be reported on a credit report for up to 10 years from the date the case is filed. The websites of Experian and TransUnion [...]

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Mortgages After Bankruptcy

By |2020-06-06T05:00:37+00:00June 6th, 2020|Uncategorized|

It is generally possible to qualify for an FHA (Federal Housing Agency) mortgage loan after a period of time after the filing of a Chapter 13 or Chapter 7 bankruptcy.  FHA mortgages are offered by individual lenders and insured by the FHA. Chapter 13 Bankruptcy  The FHA handbook states that a FHA mortgage loan may be approve after 1 year of payments under a Chapter 13 plan. The Chapter 13 plan payment performance must have been "satisfactory" and all required payments must "have been [...]

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New COVID-19 Small Business Bankruptcy Relief

By |2020-04-02T09:48:29+00:00April 2nd, 2020|Uncategorized|

Last week, the President signed into law the "Cares Act" which provides broad relief for individuals and businesses affected by the present situation. One of the sections of the Cares Act made a change for a period of time to the new Subchapter V provisions (the Small Business Reorganization act) that was just signed into law in February, 2020. Subchapter V provides for a simplified procedure for small businesses to reorganize their affairs under a streamline version of Chapter 11. The Cares Act broadened [...]

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Chapter 7 and 13 Bankruptcy Relief

By |2018-07-15T12:53:47+00:00July 15th, 2018|Uncategorized|

The Bankruptcy Code provides for personal bankruptcy relief under chapters 7 and 13. Chapter 7  Chapter 7 provides in general for the discharge of debt together with the liquidation of non-exempt property by the Chapter 7 trustee. Chapter 7 is usually used by those with lower income and little or no non-exempt property. Chapter 13  Chapter 13 is usually used by those with higher income or substantial non-exempt property. It is also used by those who need to reorganize their secured debt, such as [...]

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Abandonment of Florida Homestead

By |2018-06-15T12:40:09+00:00June 15th, 2018|Uncategorized|

Article X, Section 4 of the Florida Constitution provides generally for the exemption of a Florida homestead. Courts generally hold that once a property is established as a homestead, it does not lose that status until it is "abandoned." Various types of conduct may constitute "abandonment."  Generally, a homestead is considered abandoned when it is no longer a bona fide home and place of permanent residence. The main consideration in the determination of whether a homestead has been abandoned is the owner's subjective "intent." The homeowner's [...]

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Correcting Your Credit Report

By |2018-05-28T15:14:52+00:00May 28th, 2018|Credit Report|

The federal Fair Credit Reporting Act (the "FCRA") gives consumers certain rights regarding their file in the credit bureau. The FCRA was enacted to promote the accuracy, fairness, and privacy of information of the files of  credit bureaus. Negative information may generally be reported on your credit report for up to seven years and bankruptcy information for up to ten years. A consumer has the right to dispute inaccurate or outdated information on his credit report under the FCRA. The credit bureau and the provider [...]

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