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Chapter 13 Archives

Importance of a timely proof of claim

Florida residents may be interested in a bankruptcy case involving a creditor with a lien on a debtor's property due to unpaid property taxes. The creditor was denied the ability to collect as part of the bankruptcy claim due to specific filing rules for Chapter 13 cases.

How some student loans might be canceled

Some Florida might believe that student loans cannot be discharged in a bankruptcy. While this is generally true, there are some exceptional circumstances in which it may be possible to get student loans discharged by the government. For example, student loans may be discharged if the school closes or engages in fraudulent activity. In the former case, the student must have been enrolled within 120 days of the school's closure.

Judge rules trustee cannot retroactively change payment plan

Based on a case that occurred in another state, a bankruptcy trustee in Florida is unlikely to be allowed to retroactively change a Chapter 13 payment plan so that it matches an allowed creditor's claim. A judge for the U.S. Bankruptcy Court for the Southern District of Texas ruled that a trustee did not have the right to make these changes in 25 cases. In some cases, the changes put the debtors in arrears with their mortgage.

Unemployment income and Chapter 13 bankruptcy

When individuals or married couples in Florida face financial challenges, they may decide to look into bankruptcy as one among many options for debt relief. Depending on their circumstances, they may opt to file for Chapter 13 bankruptcy which permits them to keep their property as long as they continue to make payments on their obligations for the next three to five years.

Florida prisoners may not be eligible for chapter 13 bankruptcies

A case involving a felon in prison recently came before a state bankruptcy court. The individual filed for chapter 13 bankruptcy, but the court denied his request since he was making only about $14 per month, which came from the Illinois Department of Corrections. This amount was determined to be insufficient for entering into the repayment plan that is the primary feature of Chapter 13 bankruptcies.

The truth about collection accounts and credit reports

Florida residents may understand that collections activity on a credit report is not ideal. However, they may not know that such activity may not necessarily stay on their credit report for a full seven years. This may be true if the account in question does not belong to the person who a collection agency is attempting to collect payment from. Under the Fair Credit Reporting Act, people have the right to dispute inaccurate information on their credit report.

What to know about car purchases prior to bankruptcy

Some Florida residents who are planning on filing for bankruptcy may also need to purchase a vehicle. Unless the car is purchased out of necessity, however, it could be repossessed or lead to the case being dismissed by a bankruptcy court. While it may seem beneficial to buy the car in cash, this could have implications for those opting for Chapter 7 bankruptcy.

Supreme Court to decide on case involving FDCPA

Florida residents may have heard about a Supreme Court case regarding bankruptcy and the Fair Debt Collection Practices Act. The question before the court is whether a proof of claim filed in bankruptcy court violates that act if a debt buyer or collector knows that the statute of limitations has expired. It is standard practice for such entities to robosign such claims without looking to see if statutes of limitation have expired on them.

Debt collection companies routinely ignore regulations

Debt collection companies in Florida are part of a $13.7 billion industry, but the regulations put into place to protect consumers from abuse and harassment are often ignored according to a report released on Jan. 12 by the Consumer Financial Protection Bureau. The federal agency sent surveys to 10,800 American consumers in 2014 and 2015, and the report is based on the 2,000 responses it received.

How to eliminate revolving debt

Residents of Florida who have credit card debt are not alone: 38 percent of American households carry credit card debt from month to month. Letting credit debt roll over instead of paying it off each month is called revolving the debt. Experts suggest ways that someone with revolving debt can work towards being a transactor, which is someone who pays off their credit cards each month.

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