Tag Archive for: Clearwater Bankruptcy attorney

Should you Reaffirm a Mortgage In Bankruptcy?

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My answer is NO.

Reaffirming a debt means that if you don’t make your future payments the mortgage company can sue you for the balance due after your Chapter 7 is over.   The debt is not discharged if you reaffirmed the debt.

Debtors are required to reaffirm their car loans in bankruptcy in order to keep their vehicles, even if they are current on the vehicle.  Mortgages are a different story however, you can just continue to pay the mortgage and keep the house, without reaffirming the debt.  The mortgage company will not report your mortgage payments, on time or late to the credit bureaus.

If the debtor stops paying the mortgage and has not reaffirmed the debt, the most the mortgage company can do is to take the house back in foreclosure.  The mortgage company will not be able to obtain a personal judgment against you if you have a bankruptcy discharge and did not reaffirm the debt.

This means if later you decided you do not want to keep the home any longer, you can strategically default on your mortgage and just walk away.  This is very valuable.

Why would you consider reaffirming a mortgage then?

If the mortgage company agrees to modify one or more of the mortgage terms so the mortgage is more beneficial to the Debtors you could consider reaffirming.   Possible modifications terms could be a lower interest rate, a lower monthly payment, placing arrears on the back end of the mortgage, or deeming a default current on your credit report.

Reaffirming a mortgage debt requires a complex multi-page agreement which must be approved by the Court.  Unless the Debtor is receiving a  benefit from the mortgage company, most attorneys will not sign off on the agreement and it will require a court hearing.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney

Bankruptcy Process

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We’re committed to taking a full-service approach to each client’s unique personal and business needs.   From the day you retain us we are prepared to stop those harassing creditor phone calls. even if bankruptcy is not the right solution for you, we can recommend other debt-relief options,  Call us at (727) 410-2705 for a free consultation. Day, evening, and Weekend appointments are available.   You will not be handed off to a junior associate or a paralegal. All of your meetings will be with Carol A. Lawson, who will also personally return your calls and emails.  Bankruptcy is a complicated process and you deserve personal attention.

Our Easy 3-Step Bankruptcy Filing Process:

Step 1 Schedule a FREE initial consultation

During your free phone or zoom consultation, we will go over the intake sheet you have filled out and returned to our office prior to the meeting.  We will spend whatever time is necessary to answer your questions and analyze your case.   You will provide an estimate of the cost of your case based upon your unique circumstances.  We will provide you an intake package by email along with a contract for services following your consultation if you wish to proceed.

Step 2 Collect your paperwork and complete your package

You will then need to start collecting your documents and information. Once you are ready to proceed we will schedule an in-office appointment for you, generally about an hour to retain us and go over your documents and information.  After this appointment we will send out a personal property appraiser to appraise your household belongs and vehicles.   We also will send you a link to fill out to pull your credit report.  You should also take your Credit Counseling Class at this time.

Next we prepare your bankruptcy petition and schedules.  We then email the documents to you to review.

Step 3 Review your petition 

Next we schedule you an in-office visit, generally an hour, to go page by page through your petition and schedules with the attorney and review the documents for accuracy.  You will sign your documents at this visit.   Once the petition and schedules are executed we will electronically file them with the court.

Step 4  341 Creditors Meeting

Once your case is filed we will email you your case number immediately after filing. You should then take your  Debt Management Class.  In a few days we will email you again with the date and time of your creditor’s meeting, and instructions.  Your creditor’s meeting called a 341 after the section of the bankruptcy code, will be within 30 days of the date of your filing.

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney

 

COVID-19 Office Social Distancing Changes

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Our firm remains intact by both office and remote technology and is ready and able to assist anyone needing our services by phone and Zoom or Google Duo video call.   We are also executing, witnessing, and notarizing documents in the office, and receiving our paying clients in the office.  Masks are required, and will be provided to you if you do not have one.  We also provide gloves, hand sanitizer and disinfect the conference room between each client with Clorox wipes.  All safety procedures such as gloves, masks, hand sanitizer and Clorox bleach disinfect sanitizing are being taken for your safety.

We can receive documents through email, fax or in-person drop off upon arrangement with Carol or you may drop them off at the office with the receptionist.     

Payments can be made over various electronic methods, through the mail or in-person by arrangement. Call (727) 410-2705.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, #Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

 

HOW WILL YOUR BANKRUPTCY AFFECT YOU PERSONAL

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HOW WILL YOUR BANKRUPTCY AFFECT YOU PERSONAL INJURY CASE?

How will Bankruptcy affect your Personal injury case? This greatly depends on which occurred first, and which chapter of bankruptcy you are in. Is your personal injury case pending and you needed to file bankruptcy? Or were you in bankruptcy when you were injured and your personal injury case arose? Are you worried now about getting the right personal injury lawyer? Well don’t worry, there are plenty that you could pick from. Why not check out someone like this Columbia personal injury attorney to give you a better idea of what to expect.

When did the Injury occur? If it was before you filed bankruptcy it is the property of the estate.

Chapter 7

If your personal injury case is pending and you file Chapter 7, you will lose your claim (Bk §101(5)) entirely, it will become the property of the estate, including your entitlement for payment of future medical expenses. The trustee will settle the claim liquidating damages, for the benefit of your creditors (Bk Code §726) (BK Code §521(a)). The bankruptcy judge will enter an order approving your settlement. The injured party- debtor has no standing to object to this settlement unless they can convince the judge that the claim would have sufficient recovery to pay all creditors in full and a surplus for the debtor. The Debtor bears the burden of proof.

There are some personal injury claims that are exempt from this such as a Worker’s Compensation Claim. Contact our office for more details.

Also, the Debtor needs to be aware that any medical expenses incurred after the filing of the bankruptcy petition are not discharged in the bankruptcy. You will not be released from personal liability. The trustee will pay only a portion of those medical bills as part of the estate’s administration.

It is also extremely important that your personal injury attorney and your bankruptcy attorney be made aware of your filing both for your protection and theirs. If you would like some more guidance on what to do then you should check out a website like www.nehoralaw.com, this might help you have a better understanding of what to do. Insurance companies regularly check bankruptcy filings to see if you disclosed the claim and if it was done so properly. Failure to disclose can result in the insurance defense attorney moving to have your case dismissed on the day of trial, as the trustee is now the proper party plaintiff. If the statute of limitations has run, then the trustee’s only recourse is now to sue you, revoke your discharge and possibly refer you for criminal fraud charges to the F.B.I.!

Property interests or settlements you may be entitled to within 180 days of filing your bankruptcy petition are also subject to administration by the bankruptcy court.

Your personal injury attorney needs to know not only for how they are going to administer your case going forward, but they must be selected by the trustee, and appointed by the court to continue in your case and receive compensation. There are loads of personal injury attorneys that you could get. For example, you could check out someone like this Forth Worth Personal Injury Lawyer, but there are plenty of others that you could pick from.

Chapter 13

If your personal injury case is pending and you file Chapter 13, you again must disclose the personal injury claim. The debtor will be able to choose and retain counsel, pending court approval. The personal injury attorney will represent both the debtor and the bankruptcy estate/ chapter 13 trustee. Once a settlement is agreed to it must be approved by the bankruptcy court, along with the personal injury attorney’s motion for attorney fees and costs. The Court under a separate motion the Court will determine the distribution of the remaining proceeds between the debtor and the bankruptcy estate.

If you are experiencing problems with multiple creditors, and can benefit by filing bankruptcy while awaiting the resolution of your personal injury claim, or would like to discuss any debt issues, contact our office to schedule a free consultation.

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

April-July Special- Chapter 7 at $795

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Clearwater Bankruptcy Attoreny

Chapter 7- $795 excludes filing fee includes personal property appraisal and credit report.

Chapter 13 -$1,500 down balance through plan capped at $4,500 plus administrative fees excludes filing fee, includes personal property appraisal and credit report, does not include loan modification ( additional $1800 through plan).

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

FLORIDA EXEMPTION STATUTES

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One of the most common questions I receive are what exemptions are available to me in Florida under bankruptcy.   I have  included a list of  exemptions under the bankruptcy code below.   Please remember to contact us for your bankruptcy needs .

FLORIDA EXEMPTION STATUTES

Description LAW Max Individual Amount Max Joint Amount
Alimony Child Support FSA § 222.201, U.S.C.§  522(d)(10)(D) UNLIMITED
Annuity Contract Proceeds FSA § 222.14 UNLIMITED
Any Personal Property – No Benefit from Homestead Exemption FSA § 222.25(4) $4,000.00 $8,000.00
Benefits – Public Employee Optional Retirement Program FSA § 121.4501 UNLIMITED
Benefits Exempt From Taxes And Execution FSA §112.359 UNLIMITED
Benefits Payable Under The System FSA §121.091 UNLIMITED
Church Benefit Plans And Church Benefit Board FSA § 624.4031 UNLIMITED
Community College Optional Retirement Program FSA § 1012.875 UNLIMITED
Coverdell Education Savings Account FSA § 222.22 UNLIMITED
Crime Victims§ Compensation -100% FSA §960.14 UNLIMITED
Disability Insurance Benefits-100% FSA § 222.18 UNLIMITED
Disposable Earnings-Head of Family Earning<=$500/Week-100% FSA § 222.11(2)(a) UNLIMITED – 6months
Disposable Earnings-Head of Family Earning>$500/Week FSA § 222.11(2)(b) UNLIMITED 6 months
Disposable Earnings-Non-Head of Family 30x Minimum Wage FSA § 222.11(2)(c ) UNLIMITED 6 months
Florida Retirement System Preservation Of Benefits Plan FSA §121.1001 UNLIMITED
Fraternal Benefit Society Benefits FSA § 632.619 UNLIMITED
Gov. Employees Deferred Comp. Benefits FSA § 112.215 UNLIMITED
Health Aids – Prescribed FSA § 222.25(2) UNLIMITED
Health Insurance – Retired Public Employees FSA § 112.363(9) UNLIMITED
Homestead Fla. Const., Art. 10, §4(a)(1), FSA §§ 222.01, 222.02 UNLIMITED
Hurricane Savings Account FSA § 222.22 UNLIMITED
Life Insurance – Cash Surrender Value FSA § 222.14 UNLIMITED
Life Insurance Proceeds FSA § 222.13 UNLIMITED
Materials Furnished to Improve Real Property FSA § 713.17 UNLIMITED
Mobile Or Modular Home FSA § 222.05 UNLIMITED
Moneys Paid In To Or Out Of Medical Savings Account FSA § 222.22 UNLIMITED
Motor Vehicle (One) FSA § 222.25(1) $1,000.00 $2,000.00
Motor Vehicle Financial Responsibility Deposits FSA § 324.161 UNLIMITED
Optional Retirement Program For The State University System FSA §121.35 UNLIMITED
Partner’s interest in Partnership Property FSA §620.153, 620.8307 UNLIMITED
Partnership Interest FSA §620.8504 UNLIMITED
Payment For Injuries/Death (Hazardous Occupations) FSA § 769.05 UNLIMITED
Pension Money Of U.S. Pensioner FSA § 222.21(1) UNLIMITED
Personal Property Art. 10 § 4(a)(2), FSA § 222.061 $1,000.00 $2,000.00
Preneed Funeral Contract Consumer Protection Trust Fund FSA §497.456 UNLIMITED
Property Listed In 11 USC 522(d)(10) FSA § 222.201 UNLIMITED
Qualified Tuition Programs FSA § 222.22 UNLIMITED
Retiree Health Insurance Subsidy FSA §185.50 UNLIMITED
Retiree Health Insurance Subsidy FSA §185.50 UNLIMITED
Retirement Benefits – Firemen-100% FSA § 175.241 UNLIMITED
Retirement Benefits – Police-100% FSA § 185.25 UNLIMITED
Retirement Benefits – Public Employee-10 FSA § 121.131, 121.055 (6)(e)2 UNLIMITED
Retirement Benefits – State & City Empl. FSA § 122.15 UNLIMITED
Retirement Benefits – Teachers-100% FSA § 238.15 UNLIMITED
Retirement, Profit-Sharing Benefits FSA § 222.21(2) UNLIMITED
Senior Management Service Class FSA §121.055 UNLIMITED
Social Security, Public Assistance Benefits FSA § 222.201, U.S.C.§  522(d)()(10)(A) UNLIMITED
Tax refunds or Credits FSA § 222.25(3) UNLIMITED
Unemployment Compensation Benefits FSA § 443.051(2) UNLIMITED
Veteran’s Benefits FSA § 744.626 UNLIMITED
Wages, Travel Expenses, Unemployment Compensation Payments FSA § 222.16 UNLIMITED
Workmen’s Compensation Benefits FSA § 440.22 UNLIMITED

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

How to Shelter Assets from Nursing Home Care Costs

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  1. Give monetary gifts to your loved ones before you get sick.
  2. Hire an attorney to draft a “life estate” for your real estate,…
  3. Place liquid assets into an annuity.
  4. Transfer a portion of your monthly income to your spouse.
  5. Shelter your money through an irrevocable…

For more information contact our office.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

Medicaid, Nursing Home, Savings, Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Carol A. Lawson, Esq.

Failure to Disclose Claim in Bankruptcy Petition

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Lewis v. Portfolio Recovery Associates, LLC 

The Debtor filed a Chapter 7 Bankruptcy in NJ.  The Debtor did not disclose his FDCPA action and received a discharge.

The debtor  then filed a lawsuit alleging the defendant sent him a letter in an attempt to collect a debt that contained a “mini-Miranda” warning in a box entitled “Account Details.” According to the debtor, by mislabeling his legal rights as “Account Details,” the defendant’s correspondence was misleading and designed to confuse the debtor as to the nature of the debt and his rights.

Portfolio Recovery Associates argued that the debtor lacked standing to sue because he failed to schedule the lawsuit as a personal asset. 

 Section 541(a)(1) of title 11 of the U.S. Code provides that a bankruptcy estate comprises “all legal or equitable interests of the debtor in property as of the commencement of the case.” In re Allen, 768 F.3d 274, 281 (3d Cir. 2014). The scope of Section 541(a)(1) is broad, and includes possible legal causes action. Id. It imposes upon a debtor an ongoing affirmative obligation to disclose all assets and liabilities to the bankruptcy court before discharge, including pending and contingent claims. A failure to list an asset as property of the bankruptcy estate does not prevent it from becoming property of the estate.

With regards to undisclosed claims see  Schafer v. Decision One Mortg. Corp., 2009 U.S. Dist. LEXIS 56639, *12 (E.D. Pa. July 1, 2009). In order for a debtor to obtain standing, the trustee must abandon the unscheduled claim, whether voluntarily or pursuant to a court order. 11 U.S.C. § 554(a)-(b).

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

What Debts Does Chapter 13 Bankruptcy Wipe Out?

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  • Credit Card Debts
  • Hospital Bills
  • Most Lawsuit Judgments
  • Wage Garnishments
  • Payday Loans
  • Utility Bills
  • Foreclosure Deficiency Balances
  • Vehicle Repossession Deficiency Balances

In Chapter 13 Bankruptcy, the remaining balance of these debts, if any, is WIPED OUT after making monthly payments for 36-60 months.  Schedule your free bankruptcy consultation to learn more.

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

How Do I Qualify For a Chapter 13?

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    • I Have Regular Income
    • I Don’t Qualify For A Chapter 7 under the Means Test
    • I want to Save a House in Foreclosure
    • I want to Save A Car From Repossion
    • My Unsecured Debts (Like Credit Cards) Are Under $419,275*
    • My Secured Debts (Like Mortgages) Are Under $1,257,850*  

 

 

Carol A. Lawson, Esq., 28870 U.S. Hwy 19 #300, Hodusa Towers, Clearwater, FL 33761

Phone: (727) 410-2705;   email: [email protected]

 Clearwater Bankruptcy Attorney, Clearwater Bankruptcy Lawyer, Clearwater Bankruptcy, Clearwater Estate Planning Attorney,  Pinellas Estate Planning Attorney, Pinellas Probate Attorney #FileLocallyDontOverpay #ClearwaterBankruptcy #ClearwaterBankruptcyAttorney #ClearwaterEstatePlanning #ClearwaterProbate

  • *As of April 1, 2019