There was a lot of hoopla about the reasoning behind the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. When it was first enacted, some thought that bankruptcy was going to be nearly impossible for consumers. And, at first, bankruptcy filings were slow as noted by my colleague and fellow blogger, Peter [...]

Popularity: 32% [?]

Recently, the Administrative Office of the United States Courts released the bankruptcy filing information for 2007.  Personal bankruptcy filings reached 822,590  and business bankruptcy filings reached 28,322, for a total of 850, 912.  The number of bankruptcy filings rose approximately 38% over the 2006 number of 617,660 filings.  I would like to say that I am shocked [...]

Popularity: 16% [?]

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% [?]

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% [?]

Aloha Airgroup, Inc, recently filed for Chapter 11 bankruptcy protection. Aloha Airgroup, Inc. is the parent corporation of Aloha Airlines, Inc. This is the company’s second bankruptcy in less than three (3) years.
You may be asking yourself, what do I have in common with Aloha Airlines? I will answer that soon, but [...]

Popularity: 45% [?]

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% [?]

The Mortgage Crisis is in the beginning stages.  Based upon all the articles and studies that I have been reading, we are about 15% to 25% into this disaster.  So far, the only solutions being offered by the Bush Administration have been negotiation strategies.  Obviously, these ploys have not worked, as the number of foreclosures [...]

Popularity: 29% [?]

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% [?]

As consumer bankruptcy attorneys, the members of this network are on the cutting edge of bankruptcy issues, and more importantly, we see the latest trends and issues that consumers see in debt collection, mortgage fraud, credit card abuses, etc.  Well the two most common used words in my offices in 2008 are CASH ADVANCES.  It seems [...]

Popularity: 25% [?]

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% [?]