Homeowners no longer can included mortgage payments for properties they have surrendered in order to qualify under the Means Test. In a Chapter 7 bankruptcy, there is a limit to the income level an individual can have in order to qualify for this chapter of bankruptcy. If a ...
Bankruptcy
Do Not Include Mortgage Payments on Surrendered Property to Qualify Under the Means Test
Published in Bankruptcy, Foreclosure and Real Estate
Change in Income Can Make Bankruptcy Filing More Troublesome
A change in monthly income can sometimes make bankruptcy filing more difficult. In a Chapter 7 bankruptcy, the bankruptcy court looks back to the past six months and asks for the total monthly gross income for each month. In some months, you may make more in other months. Why ...
Published in Bankruptcy, Finances and Financial
City in Trouble? File Bankruptcy
The city of Harrisburg, PA, recently filed for a Chapter 9 bankruptcy. PA Governor Tom Corbett then signed new legislation that allows for a takeover of Harrisburg, which would allow the governor to declare a state of fiscal emergency which would hopefully lead to a recovery ...
Published in Bankruptcy
Bankruptcy Filings in Middle District of Florida Down
The U.S. Bankruptcy Court Middle District of Florida recently reported that filings from January to August 2011 are down 16% from 2010's annual rate. However, despite this decrease, the Middle District is still one of the most active in all of the United States for bankruptcy filings.
From ...
Published in Bankruptcy, Foreclosure and Real Estate
Football Anyone?
This story is actually a local story, relatively speaking. Former Jacksonville quarterback Mark Brunell apparently filed for Chapter 11 bankruptcy roughly a year ago. It seems that Brunell had failed businesses and was thus forced to attempt to reorganize though the Chapter 11 process. Based on ...
Published in Bankruptcy
What Does it All Mean?
Well some of this doesn't come as a great surprise. This article examines some recent numbers regarding 2011's decline in overall bankruptcy filings. The article goes on to discuss some of the other measures of economic recovery and how a decline in bankruptcy filings may not ...
Published in Bankruptcy, Foreclosure and Real Estate
10 Largest Bankruptcy Filings in US History and More
I just decided to post a few interesting story links this week.
This first story is about a Florida law firm that went under for a ponzi scheme. One of the partners of this firm was convicted of the fraud and is now in bankruptcy for the purpose of repaying ...
Published in Bankruptcy, Finances and Financial
