Author Archive
By Chip Parker, Jacksonville Bankruptcy Attorney on Mar 30, 2008 in Consumer Protection, Florida, Foreclosure Issues, Mortgages, Personal Property | 1 Comment
In a March 30th article by reporter Kevin G. Hall of McClatchy Newspapers, he recounts the struggle of distressed homeowners seeking the relief promised by the Bush Administration and mortgage lenders.
The lesson learned from Hall’s subjects – Chris Jennings and Julie Mickley – is that homeowners must be bold and relentless in dealing with their [...]
Popularity: 32% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Mar 27, 2008 in Bankruptcy Practice and Procedure, Chapter 13 Bankruptcy, Florida, General Bankruptcy Information, Georgia, U.S. Trustee Audits | 0 Comments
Bankruptcy attorneys practicing in the Middle District of Florida, Jacksonville Division received the following email from Chapter 13 Trustee Doug Neway:
“Effective with all cases filed on May 1, 2008 or later: . . . All plans should be calculated using a 10% fee. This change is necessary to insure sufficient fund are collected during the [...]
Popularity: 27% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Mar 12, 2008 in Bankruptcy Legislation, Florida, General Bankruptcy Information | 1 Comment
According to a recently released report from the Clerk of the Middle District of Florida, the MDFL is the sixth busiest bankruptcy court (out of 90 courts) in the nation. The five courts busier than the MDFL are Eastern District of Michigan, Northern District of Georgia, Central District of California, Northern District of Ohio and [...]
Popularity: 16% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Feb 29, 2008 in Bankruptcy Legislation, Benefits of Bankruptcy, Chapter 13 Bankruptcy, Florida, General Bankruptcy Information, Protecting Assets In Bankruptcy | 1 Comment
A bipartisan compromise bill in the U.S. Senate (S.2636), which closely aligns with a similar House bill, would allow bankruptcy courts to modify existing subprime mortgages to help families save their homes from foreclosure.
Under the terms of the Foreclosure Prevention Act, a borrower can qualify only if it can be proven that he or she [...]
Popularity: 29% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Jan 25, 2008 in Bankruptcy Cases of Interest, Chapter 13 Bankruptcy, Decisions of Interest, Florida, General Bankruptcy Information, Means Testing | 0 Comments
January 18, 2008, Jacksonville, Florida - A recent case out of the Jacksonville Division of the Middle District of Florida has held that neither 401k contributions nor 401k loan repayments are included in a Chapter 13 debtor’s disposable income, without regard to whether the debtor is above or below median income.
Despite a whole line [...]
Popularity: 35% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Jan 11, 2008 in General Bankruptcy Information | 0 Comments
Many of the ideas for posts on Bankruptcy Law Network come from actual client’s situations. One BLN attorney will post a question to the group, and the others will chime in with their own experiences and opinions regarding the issue. This post is an example of that process in action.
If you liked that post, then [...]
Popularity: 8% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Jan 10, 2008 in Benefits of Bankruptcy, Chapter 13 Bankruptcy, Florida, Foreclosure Issues, General Bankruptcy Information, Mortgages | 0 Comments
Why does everyone talk about the foreclosure crisis in this country, but nobody is doing anything about it? Presidential candidates pay lip service to this tremendous problem, but can the average American wait until 2009 for relief? By then, close to two million more subprime loans will reset from their initial teaser rate to a [...]
Popularity: 34% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Dec 11, 2007 in Benefits of Bankruptcy, Florida, General Bankruptcy Information | 0 Comments
These days it’s just too easy to find new subprime mortgage items to discuss, but today is especially effortless. Eeny, meeny, miny, moe. There are no less than three stories in my newspaper today lamenting this global crisis. To wit:
Retailers are expected to have a dismal Christmas, and one of the biggest factors is the [...]
Popularity: 18% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Oct 28, 2007 in Bankruptcy Cases of Interest, Bankruptcy Practice and Procedure, Chapter 7 Bankruptcy, Decisions of Interest, Florida, General Bankruptcy Information | 0 Comments
In a previous BLN post, I explored the topic of household size, which is important for anyone contemplating the filing of a Chapter 7 bankruptcy. You see, if a debtor’s income is below his state’s median income for his household size, he automatically qualifies to file a Chapter 7 bankruptcy. If a non-filing housemate makes [...]
Popularity: 15% [?]
By Chip Parker, Jacksonville Bankruptcy Attorney on Oct 25, 2007 in Bankruptcy Practice and Procedure, Chapter 7 Bankruptcy, Florida, General Bankruptcy Information, U.S. Trustee Audits | 0 Comments
Since the amendments to the bankruptcy laws went into effect on October 17, 2005, the greatest change for the average person has been “qualifying” to file a Chapter 7 bankruptcy. Basically, there are two ways to qualify: one is the Median Income Test and the other is the Means Test. Both tests refer to “household [...]
Popularity: 19% [?]