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Category Archives: Bankruptcy

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Facing Retail Bankruptcy? Consider Subchapter V

By Julia Kefalinos |

Cash just isn’t flowing like it was before COVID-19 hit. It’s impacted families all over the country. And that’s become part of a vicious cycle. As consumers reduce spending, retailers can’t move their merchandise. That means suppliers are dealing with cancellations on orders, making them unable to keep employees on staff. Layoffs mean families… Read More »

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Bankruptcy: What am I Getting Myself Into?

By Julia Kefalinos |

If you are considering bankruptcy, it likely means you have been experiencing financial trouble for a stretch of time and creditors are knocking at your door. This is not something you should contemplate without understanding exactly what it is that bankruptcy means for you today, and in the future. What Happens? Essentially, when you… Read More »

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Going into Bankruptcy with your Eyes Wide Open

By Julia Kefalinos |

As you consider filing for bankruptcy, you are no doubt filled with conflicting emotions. While the thought of saying good-bye to creditors and their incessant interruptions into your life will be a weight off your shoulders, you are not looking forward to parting with assets, being held to strict repayment schedules, or the hefty… Read More »

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Is Bankruptcy the Right Move for You?

By Julia Kefalinos |

This year more than most, many people are finding it hard to make ends meet. January is often something of a nasty wake-up call from creditors due to holiday shopping that went a bit out of control. On top of it this particular January, many are dealing with COVID related job loss and/or medical… Read More »

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Hurdles in Filing Chapter 7 Bankruptcy: Means Testing

By Julia Kefalinos |

If you are considering filing a Chapter 7 bankruptcy, you should be prepared for a bit of a fight. That’s because the federal laws associated with such action became significantly stricter in 2005, when Congress became suspicious about fraudulent claims. Because of those misgivings, filers face a presumption of abuse at the onset. Understanding… Read More »

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Is Chapter 7 Bankruptcy the Right Move for You?

By Julia Kefalinos |

If you’re feeling overwhelmed with your financial situation, you are not alone. Nearly 30,000 bankruptcy filings have occurred in Florida so far this year, with about three-fourths of them Chapter 7 filings. The truth is, many people have been struggling to survive on reduced incomes this year, thanks to the pandemic and other factors… Read More »

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What Happens to an Unexpired Lease If I File for Bankruptcy?

By Julia Kefalinos |

In a Chapter 13 bankruptcy, a debtor files a proposed plan of reorganization with the court. In plain terms, the debtor must explain how they will repay their creditors over a three- to five-year period. To assist in this, the court will appoint a Chapter 13 trustee, who acts as the legal representative of… Read More »

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Should I File for Bankruptcy If I Lost My Job Due to COVID-19?

By Julia Kefalinos |

The COVID-19 pandemic has challenged our economy in ways not seen since the Great Depression. As of April 16, 2020, approximately 22 million people in the U.S. have filed for unemployment insurance. Even with additional benefits provided for under recent congressional legislation, thousands of Floridians now find themselves unable to pay rent and other… Read More »

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Florida Clarifies Rights of Mortgage Holders in Bankruptcy

By Julia Kefalinos |

Although filing for Chapter 7 bankruptcy can eliminate most of your unsecured debts, it does not get you off the hook for any debts secured by property, such as your home mortgage. While filing for bankruptcy can delay a foreclosure, it cannot ultimately prevent the bank from taking your house if you are unable… Read More »

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What Is a Chapter 13 Confirmation Hearing?

By Julia Kefalinos |

In a Chapter 13 bankruptcy case, a debtor is required to submit a repayment plan to the court. But submitting the plan is only the first step. The debtor’s creditors, as well as the trustee overseeing the bankruptcy estate, have the right to review the proposed plan and note any exceptions or objections with… Read More »

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