Click Here To Receive FREE Email Updates!

Author Archive

Can I Include My Roommate in My Household Size? »

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 | 1 Comment

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 [...]

Is My Roommate Part of My Household? »

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 | 1 Comment

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 [...]

How Many Subprime Loans Are in My County? »

By Chip Parker, Jacksonville Bankruptcy Attorney on Oct 15, 2007 in Florida, Foreclosure Issues, General Bankruptcy Information, Personal Finance | 0 Comments

The Wall Street Journal has completed an extensive county-by-county study of subprime loans from 2004 through 2006. Since there is traditionally a two or three year teaser rate on these horrid loans before the monthly payments skyrocket, the WSJ’s study paints a scary picture for the next few years. While you might believe that your [...]

Douglas W. Neway is the new Chapter 13 Trustee in Jacksonville. Are you kidding me? »

By Chip Parker, Jacksonville Bankruptcy Attorney on Oct 11, 2007 in Chapter 13 Bankruptcy, Consumer Protection, Florida, General Bankruptcy Information | 0 Comments

Douglas Neway, Chapter 13 Trustee, Jacksonville, Florida
On October 1, 2007, Douglas W. Neway, Esquire became the unlikely replacement for the “retiring” Mamie L. Davis.  Ms. Davis had been the Chapter 13 Trustee for the Jacksonville Division for 14 years, following Jerry Funk’s appointment to Bankruptcy Judge so many years ago.
Before explaining why Doug Neway is [...]

Valuing a car just got easier in the Middle District of Florida »

By Chip Parker, Jacksonville Bankruptcy Attorney on Sep 26, 2007 in General Bankruptcy Information | 0 Comments

In my previous article, I discuss the fact that, in a Chapter 13 bankruptcy, the debtor can “value” the merchandise securing a purchase money security interest (PMSI), paying the creditor only an amount equal to the fair market value. Any remaining amount owed would be treated as an unsecured claim. This process is known as [...]

Who says pimpin’ ain’t easy? Colleges team up with banks to encourage student debt »

By Chip Parker, Jacksonville Bankruptcy Attorney on Sep 21, 2007 in Consumer Protection, Florida, General Bankruptcy Information, Personal Finance | 1 Comment

www.tshirtbordello.com
Colleges are supposed to provide a safe haven for young adults to absorb their last little bit of useless information before heading out into the real world, only to discover that life isn’t always fair. Increasingly, however, colleges are letting the fox into the henhouse in exchange for a share of the fresh poultry.
In April, [...]

What is a secured debt? Part 4 – judicial lien »

By Chip Parker, Jacksonville Bankruptcy Attorney on Sep 10, 2007 in Benefits of Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Florida, General Bankruptcy Information, Protecting Assets In Bankruptcy | 0 Comments

In Part 1, I discussed perfected security interest, such as home mortgages and car titles.
In Part 2, I discussed purchase money security interests (a.k.a. PMSI), such as store credit cards.
In Part 3, I discussed non-purchase money security interests (a.k.a. Non-PMSI), such as American General and Beneficial loans.
Another secured debt typically owed by a debtor is [...]

What is a secured debt? Part 3 – non-purchase money security interest »

By Chip Parker, Jacksonville Bankruptcy Attorney on Aug 29, 2007 in Bankruptcy Practice and Procedure, Benefits of Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Florida, General Bankruptcy Information, Protecting Assets In Bankruptcy | 0 Comments

In Part 1, I discussed perfected security interest, such as home mortgages and car titles.
In Part 2, I discussed purchase money security interests (a.k.a. PMSI), such as store credit cards.
Another very common type of secured debt is the Non-PMSI. A non-PMSI is a lien placed on the debtor’s property, as a result of the debtor’s [...]

Bankruptcy reform gaining momentum in Congress! »

By Chip Parker, Jacksonville Bankruptcy Attorney on Aug 21, 2007 in Benefits of Bankruptcy, Chapter 13 Bankruptcy, Consumer Protection, Florida, General Bankruptcy Information, Personal Finance, Protecting Assets In Bankruptcy | 4 Comments

Richard Durbin advocates bankruptcy reform
Consumer bankruptcy lawyers have known that one solution to the foreclosure crisis is to amend the bankruptcy laws. As I reported previously, National Association of Consumer Bankruptcy Attorneys President Henry Sommer submitted to the House Judiciary Subcommittee on Commercial and Administrative Law a proposal recommending that the Bankruptcy Code be expanded [...]

Banks complain about consumer protection »

By Chip Parker, Jacksonville Bankruptcy Attorney on Aug 16, 2007 in Consumer Protection, Florida, General Bankruptcy Information, Personal Finance | 0 Comments

Sallie Mae
Banks needs to quit crying. The latest is the news that JP Morgan Chase and Bank of America, together with two private equity firms, have struck a deal to buy the largest student loan corporation, SLM Corp., commonly known as Sallie Mae. However, the parties warn that the buyout is in jeopardy because of [...]

« Previous Posts
Next Posts »