July 28, 2020
bankruptcy document

Will the Bankruptcy Trustee Take My Personal Injury Settlement?

Money you receive in an award or settlement is considered personal property for bankruptcy purposes. Whether it is a settlement or a trial verdict, the money you receive to compensate you for an injury will be part of the property in your bankruptcy estate. The key date to look at is the date of the accident.  If the accident took place before the bankruptcy petition was filed, the claim and therefore the monetary recovery is part of bankruptcy and the settlement or verdict amount may be used to pay back creditors.  If the accident took place after the bankruptcy petition […]
July 28, 2020
credit cards on top of a keyboard

Can I Keep One of My Credit Cards During Bankruptcy?

We are often asked “Can I just keep this one credit card?” during initial bankruptcy consultations. As we move further and further towards a cash-less economy, having a credit card has become more and more important.  It is often a big problem for our bankruptcy clients to be left without a Visa or Mastercard after filing. The answer to the legal question is … “Maybe.”  And only if the balance on the card is zero when you file your case. When you file for bankruptcy, the law requires that you provide a list of all of your creditors. A credit […]
July 27, 2020
stop your eviction

How to Stop Your Eviction

It’s July 27, 2020 right now and The Eviction Tsunami is here.  If you are a nervous tenant or maybe a kind-hearted probate lawyer whose cousin just received an eviction lawsuit, watch on because eviction legal actions are unlike any other.  You have to know how to fight. I begin with 2 disclaimers: First, I slant pro-tenant so, Landlords, I understand your frustration and problems and the mortgage you have to pay – trust me – but this is tenant oriented.  Second, landlord/tenant laws vary state by state and I will only have time to give you the important things […]
May 13, 2020
bankruptcy questions sign

Bankruptcy – Top 8 FAQs

1. WHO CAN FILE FOR BANKRUPTCY? Any person who resides, does business, OR has property in the U.S. can file bankruptcy. There is no requirement that a person who resides here prove their legal status – so yes, undocumented workers can file bankruptcy as well. The big/main requirement is that you pass the “means test” for filing a Chapter 7 bankruptcy. That means that the bankruptcy filer must show that he or she makes under the median income of the state (In Florida that’s right around $51,000) OR prove that he or she has under $215 in disposable income. 2. […]
May 5, 2020
bankruptcy stamp

The 4-Minute Crash Course in Bankruptcy

Today, we are going tell you everything you need to know about bankruptcy law, and some things you don’t. This will be quick so hold on to your hat.  The idea of bankruptcy has been around since the days of the Old Testament and the tradition of “the Jubilee” in which slaves were freed and debts forgiven every 7 years. This is an ancient counter-part to the modern tradition of The Purge – in which all crimes are legal for 12 hours.  Oh…that’s just a movie.  Darn it, I was making plans … Anyways, going back to the founding of […]
April 29, 2020
Chapter 7 Bankruptcy

Chapter 7 Bankruptcy Basics: FAQs

The idea behind a Chapter 7 Bankruptcy is a “fresh start.”  But the Court will not allow people with a lot of money or assets to keep all their personal belongings and file bankruptcy and not pay their creditors.  So, the first question is, “What assets can you keep after you file bankruptcy and what assets must you give up”? In bankruptcy you generally can retain: $1,000.00 of personal property or $4,000.00 of personal property if you do not own a home with equity in it. We use garage sale figures  – not new or retail! Your home – no […]