May 2013

29 May Credit Card Judgment: Too Late For Bankruptcy?

Credit cards file lawsuits to show they're upset and they miss your payment. If they win, they have a judgment against you. It's not unusual for debt collectors to say bankruptcy doesn't "work" then. They're wrong! Bankruptcy filings stop collection of debt in its tracks. That's...

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28 May If I File A Chapter 7 Bankruptcy In Florida – Should I Reaffirm My Mortgage?

ReaffirmShould a Debtor in a Chapter 7 bankruptcy in Florida reaffirm their mortgage or second mortgage? Good Question. The Creditors think so. The case law is unclear (at least to me), and the debtors want a ride through (ability to pay as you go without reaffirming or redeeming). This is one issue where the Bankruptcy Courts nationwide have agreed to disagree. There is clearly a split in the bankruptcy case law across the nation. Some Bankruptcy Courts allow the ride through which means that Chapter 7 bankruptcy debtors will be allowed to continue making regular payments. The case law in the Bankruptcy Courts in the Middle District of Florida is just the opposite. Here, we have an opinion that states that a debtor is required to reaffirm their mortgages but the overwhelming majority of Chapter 7 debtors do not reaffirm their mortgages, and they continue to make regular monthly payments.
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