What Happens to My Car in Bankruptcy?
What appears to be a simple question can become complicated depending on the circumstances of your case. The following endeavors to help answer this question. Chapter 7 Bankruptcy What most…
STUDENT LOAN PAUSE EXTENDED THREE MONTHS
Student loan debt in the U.S. exceeds $1.7 trillion. Approximately one-third of student loan borrowers are in default. The average monthly student loan payment is $400 per month. The Student…
BIG CHANGES TO THE FAIR DEBT COLLECTION PRACTICES ACT
The Consumer Financial Protection Bureau approved new rules effective November 30, 2021, which affect how Debt Collection Companies may contact consumers. Debtor Collectors can now contact you about unpaid debts…
Florida Homestead Exemptions and Bankruptcy
Florida's homestead exemption is considered to be one of the most generous in the country. Under Florida law, you can exempt an unlimited amount of equity in your home. However,…
Federal Student Loan Forbearance Extended Again!
The Student Loan Forbearance under the CARES Act has been extended again. The forbearance was due to expire on September 30, 2021; however, it has been continued until January 31,…
Options after Forbearance Period Ends
A number of mortgage lenders allowed borrowers to enter into Forbearance Agreements during the COVID-19 Pandemic. A forbearance agreement allows a borrower to miss mortgage payments for a period of…
Discharging Income Taxes in Chapter 7 Bankruptcy
Income taxes are discharged in a Chapter 7 Bankruptcy unless excepted from the discharge under 11 U.S.C. Section 523(a)(1). There are a number of requirements in Section 523 which may…
ADVANCE CHILD TAX CREDIT PAYMENTS
The IRS will pay one-half of the child tax credit for your 2021 Tax Return in advance. The advance payments will begin on July 15, 2021. The other half of…
Head of Family Exemption
The Head of Family Exemption may be used to protect both wages and bank account funds from garnishment. However, application of the exemption is not straightforward. The following explains how…
COVID-19 BANKRUPTCY RELIEF EXTENSION ACT AND CHAPTER 13 BANKRUPTCY
The COVID-19 Bankruptcy Relief Extension Act was passed on March 27, 2021. The act extends a umber of bankruptcy related provisions contained in the Coronvirus Aid, Relief, and Economic Security…