Bankruptcy

Difficult Changes for Bankruptcy Filers in Florida

Published: Wednesday, 02 December 2015
Written by Administrator

Bankruptcy filing in Florida is changing, and its even more complicated.  There will be more forms that make the process even more difficult

In a difficult and convoluted process, the changes will create even more headache. Bankruptcy filing is a difficult process, and with the addition of new requirements, even those familiar with the process may receive rejections as a result of mistakes. A single mistake may get your case case thrown out, or bankruptcy may be delayed because of an incomplete form. 

Bankruptcy lawyers are still learning and trying to understand the changes, which filers could find intimidating. Bankruptcy lawyers should have a goal of helping clients, and it is completely necessary for them to have complete grasp of the changes and their purposes in order to fulfill that ideal.

The Fresh Start of a Bankruptcy May Restore Credit Faster

Published: Thursday, 12 March 2015
Written by Administrator

People think about filing for bankruptcy when their alternatives have gotten worse. Knowing when you are there can be difficult though. One mistake that makes some think twice about filing bankruptcy is the possible impacts on credit. A study by the Federal Reserve Bank that compares credit of those who have filed bankruptcy with people with many defaults showed what bankruptcy attorneys already knew.

The research found that credit scores of those who have filed are a lot better than those dealing with defaults.

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You Can’t Discharge Your Student Loans In Bankruptcy Because Of Panicked 1970s Legislation

Published: Thursday, 19 March 2015
Written by Administrator

Even though bankruptcy should be seen as a final option for those drowning in debt, this action will not help consumers get out of giant educational loans. It wasn't this way always.

Students with a mountain of impending debt from student loans have very little options by way of forgiveness for their student debts. Bankruptcy is usually the last option.

Your mortgage and other loans can be thrown out with bankruptcy, however, the only way education loans will be discharged is it is proved that you have “undue hardship”.

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Commission Calls for Overhaul of Chapter 11 Bankruptcy Code

Published: Friday, 20 February 2015
Written by Administrator

The "American Bankruptcy Institute’s Chapter 11 bankruptcy Reform Commission", which is given the task of reforming the 40 year old bankruptcy laws, gave a report that showed the current Chapter 11 regimeis behind times. The report asks Congress to give businesses a better go at restructuring with Chapter 11.

Senior creditors could be made to pay “out-of-the-money” lenders, when the first creditors aren't paid off. With this, the creditors get a recovery if the court finds their business is worth more in 3 years thanit currently is. This is supposed to give creditors some of the rebuilding options that only senior creditors receive.

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