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Category Archives: Bankruptcy

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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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How Will Bankruptcy Affect My Credit Report?

By Julia Kefalinos |

A common question many people have about the bankruptcy process is the effect it will have on their credit report. The Bankruptcy Court itself has nothing to do with credit reports, which are maintained by private agencies. But federal law still governs how long these agencies can maintain a public record of your bankruptcy,… Read More »

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New Chapter 13 Bankruptcy Rules In Effect

By Julia Kefalinos |

Bankruptcy is a complicated process. Many Florida residents think they can manage a Chapter 13 bankruptcy on their own. But there are a number of rules and forms involved, and if a debtor is not careful, they can sabotage their case right out of the gate. How New Amendments Help Creditors The Supreme Court… Read More »

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Do I Still Have to Pay Alimony If I File for Bankruptcy?

By Julia Kefalinos |

In filing for Chapter 7 or Chapter 13 bankruptcy, you need to be mindful that certain categories of debt cannot be discharged. For example, if you are divorced and the court ordered you to pay spousal or child support, you cannot escape these obligations through the bankruptcy courts. To the contrary, the federal bankruptcy… Read More »

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Are Tax Debts Dischargeable in a Chapter 7 Bankruptcy?

By Julia Kefalinos |

While a Chapter 7 bankruptcy is designed to give a debtor a “fresh start,” that does not necessarily mean that you can eliminate all of your outstanding debts. Congress exempts a number of categories of debt from discharge through bankruptcy. Not surprisingly, one such exemption covers tax debts owed to the government itself. According… Read More »

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Do I Need to Disclose Pending Lawsuits on My Bankruptcy Petition?

By Julia Kefalinos |

In a Chapter 7 bankruptcy case, it is critical to disclose all of your assets to the court. This includes any potential legal claims you may have against other parties. For example, if you were in a car accident and sued the other driver for negligence prior to your bankruptcy filing, your personal injury… Read More »

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