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So far Team Flexsin has created 216 blog entries.

The Bare Bones Filing In Bankruptcy

Call: 888-297-6203 There is a sale date for your Jacksonville home. You have been counting on the possibility of mortgage modification because of which you were delaying in filing a bankruptcy, but now you have only 24 hours before the selling of your home. However, this can be stopped from happening. Filing for bankruptcy, even a few hours before the selling of the home, will bring the automatic stay in effect. An automatic stay stops the creditors from collecting until either the completion of the bankruptcy or the court’s permission for collecting again. There is a lot of [...]

2019-11-27T10:22:35+00:00
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The Mobster Museum Files For A Chapter 11 Bankruptcy

Call: 888-297-6203 The Las Vegas Mobster Museum has gone bankrupt with a debt of 5.8 million dollars and has filed for a Chapter 11 bankruptcy. The museum, after the FBI evidence room, has the world’s largest collection of crime artifacts. The debt owed by the museum is proportionally more than the amount that Capone had owed to the IRS. Capone owed $215,000 to the IRS, at the time of his arrest in 1931, which is equivalent to almost 3 million dollars in today’s time. It had lead to 11 years’ imprisonment for Capone. JVLV Holdings LLC purchased the [...]

2019-11-27T10:21:27+00:00
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Married Couples Get Unique Benefits In Bankruptcy Cases And Wage Garnishment

Call: 888-297-6203 Married debtors might get a unique opportunity over unmarried debtors in defending wage garnishments. Exemption from the garnishment of all the disposable earnings is allowed to any Head of a family under Section 222.11 of the Florida Statutes. According to Section 222.11(1)(c), ‘Head of the family’ is defined as any person who provides more than 50% support of the dependents. Thus, both the spouses can exempt their wages from garnishment, if each is providing more than half of the child support. Another trick used in a bankruptcy case is of filing for ‘Tenancy by the Entireties’, [...]

2019-11-26T10:56:29+00:00
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Bankruptcy Filings Before The Holidays Are Beneficial

Call: 888-297-6203 Bankruptcy filings in Jacksonville are at their lowest from November to February as no one wants to go bankrupt during holidays. The reason for this is that despite being in debt, people are still bound to buy gifts for friends and family. There are many ‘Exceptions to Discharge’ listed in 11 U.S.C. § 523. The goods and services which are reasonable and necessary for the support and maintenance of the debtor and his or her dependents are exempted. Presents, even the traditional ones, will be considered a luxury except if they are especially modest. Such pre-filing [...]

2019-11-26T10:55:10+00:00
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Medical Debts Might Lead To Filing For Bankruptcy

Call: 888-297-6203 According to the Census Bureau, one out of six Americans does not have health insurance. Thus, suffering from an illness or other medical problems has become one of the most common reasons to file for bankruptcy. Most of us are surviving on the edge in the current economic circumstances. According to the data of the Census, revolving debt of about $5,100 is carried by the average American cardholder at any one time. It takes only an illness or an accident to make people fall behind on their bills. After that, the rates of interest are increased [...]

2019-11-26T10:53:42+00:00
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Bankruptcy Attorney Suspended For Giving Bad Advice To The Client

Call: 888-297-6203 George Sadorus’ decision to hire a bankruptcy attorney over the internet proved to be harmful to him. He really should have heard the warning bells when his attorney had asked him to be dishonest with the Trustee about his inability to attend the 341 Meeting of Creditors. A paralegal had advised Sadorus that $8,000 which was there in his bank account would be exempt in the bankruptcy. Later, the paralegal did not inform the attorney about the account, and thus the attorney filed Sadorus’ case without disclosing $8,000 in his account. As soon as the attorney [...]

2019-11-26T10:52:13+00:00
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Can I File For Chapter 7 Despite Having An Annual Income Of $1,000,000?

Call: 888-297-6203 It is possible for a debtor to file for a Chapter 7 bankruptcy despite an annual income of a million dollars, but they will have to pass all sorts of criteria mentioned in the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), passed by Congress in 2005. The most common eligibility is to pass the Means Test. Under 11 USC § 707(b), the Means Test requires a debtor to prove that their gross income is less than the average income meant for their family size in their state. Most people ignore the first part of this [...]

2019-11-26T10:49:46+00:00
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Tax Returns Can Be Used To Pay For Bankruptcies

Call: 888-297-6203 The time to pay tax is going to come soon. By January 31st, the employees need to get W2s from their employers, so that their federal income taxes can be filed. According to the Bank rate website, 30% of the people getting tax returns decide to use it to repay debt, and some of it to fund bankruptcies. It is beneficial to file for bankruptcy immediately after receiving the tax return because you get an opportunity to use your return on necessary and reasonable things instead of handing it over to your bankruptcy trustee. For instance, [...]

2019-11-13T12:19:45+00:00
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Stripping Second Mortgages In A Chapter 7 Case

Call: 888-297-6203 This blog post is about getting an effect in a Chapter 7 case which is similar to lien stripping in a Chapter 13 case. In a Chapter 7 bankruptcy case, the filers get an opportunity of keeping their debts on a secured loan until they are keeping up with their payments. This, together with the Florida Constitution, allows the keeping of financed homes through bankruptcy. But, most of the people, these days, are struggling with the problem that their house is underwater and the equity does not secure their second mortgage anymore. For example: Home Value    [...]

2019-11-13T12:15:17+00:00
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Confirmation Of Chapter 11 For Mark Brunell

Call: 888-297-6203 An ex-quarterback for the Jacksonville Jaguars, Mark Brunell, had filed for a Chapter 11 bankruptcy, in which the debtor includes all of his creditors and proposes a plan to repay them all. Then, the approval of the plan lies in the hands of the creditors in case of the infringement of their rights. The approval of all the infringed creditors leads to the confirmation of the plan. Mr. Brunell’s plan was also confirmed by the Judge, Jerry A. Funk. Consumer debtors, who do not pass the Means Test, are ineligible to file for a Chapter 7 [...]

2019-11-13T12:10:03+00:00
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