Bankruptcy happens to people from all walks of life, and deciding to file is often a difficult decision. If this is something you are considering, read on to learn about filing for Chapter 7. What is Chapter 7? This is also called “straight” or “liquidation” bankruptcy and means that the trustee will cancel most if…
Continue reading ›Bankruptcy is a federal law that allows people and businesses (even cities and municipalities) to manage or eliminate debt. Bankruptcy is available to most everyone, and you do not even need to be insolvent to file. Bankruptcy is important because it imposes an immediate “automatic stay” on all creditors, and these creditors must stop all…
Continue reading ›By Alfred Villoch, III, with Savage, Combs & Villoch, PLLC Divorce is often the catalyst for bankruptcy. After divorce, finances are stretched. There are new budgetary constraints. One partner might lose health insurance or the insurance might become more costly for the ex-spouse. Alimony and child support become additional expenses to pay. Some start having…
Continue reading ›By Alfred Villoch, III, with Savage, Combs & Villoch, PLLC In a previous blog post, I explained the purpose of a 341 meeting of creditors. A trustee holds a 341 meeting in every bankruptcy case. You can access that blog post HERE. Before a 341 meeting, a bankruptcy trustee usually requests certain documents to verify…
Continue reading ›By Alfred Villoch, III, Esquire, with Savage, Combs & Villoch, PLLC The judges of the United States Bankruptcy Court for the Middle District of Florida are considering new rules and proposed amendments to the Local Rules. The proposals are available HERE for public comment beginning on March 9, 2015. The public comment period ends on…
Continue reading ›By Alfred Villoch, III, with Savage, Combs & Villoch, PLLC In October 2008, the State of Florida charged Casey Marie Anthony with first-degree murder in the death of her two-year-old child, Caylee Marie Anthony. The matter was highly publicized and dominated the national news for years. From May to June 2011, Casey Anthony stood jury…
Continue reading ›By Alfred Villoch, III, with Savage, Combs & Villoch, PLLC Only an individual (not businesses) with regular income can seek relief under Chapter 13 of the Bankruptcy Code. Chapter 13 allows individuals with regular income to propose a plan to repay all or part of their debts. Under Chapter 13, individuals file a proposed repayment…
Continue reading ›By Alfred Villoch, III, Esquire, with Savage, Combs, & Villoch, PLLC No. An employer is strictly prohibited from terminating your employment or discriminating against you in any way solely because you filed bankruptcy. Section 525 of the Bankruptcy Code is entitled “Protection against discriminatory treatment.” Subsection (b) specifically states that no private employer may terminate…
Continue reading ›By Alfred Villoch, III, with Savage, Combs & Villoch, PLLC For the honest but unfortunate debtor, bankruptcy will discharge your unsecured debts and give you the fresh start that you need to rebuild your life and strengthen your financial well being. But then there are certain debts that are simply inescapable, even in bankruptcy. One…
Continue reading ›By Alfred Villoch, III, with Savage, Combs & Villoch, PLLC Contrary to pop culture belief, bankruptcy existed long before the game show Wheel of Fortune. Remember when contestants would lose their prize money if they spun the wheel and randomly landed on the ominous black wedge, “BANKRUPTCY”? Bankruptcy also existed way before celebrities like M.C.…
Continue reading ›
