A recent case in Illinois shows us the importance of providing to your attorney a filed copy of your mortgage or deed of trust that is a lien on your real estate, land or home. Occasionally, clients will have problems in gathering these documents from the county clerk, the office in Kentucky that files mortgages. [...]
Dealing With a Financial Surprise
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There are two typical types of financial setbacks that lead to bankruptcy for most people: a huge surprise, and a slow and steady increase in debt. If you are on the surprise side of things, as many of us are from time to time, it is important to follow several important steps. If you just [...]
Does Texas Foreclosure Law Allow Deficiency Judgments?
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Texas law allows lenders to pursue deficiency judgments after foreclosure A deficiency judgment arises when the proceeds from a foreclosure sale fail to satisfy the outstanding mortgage balance, and a lender wins a lawsuit seeking payment of the difference. The practice has become much more common in today’s troubled housing market, where many Americans find [...]
Wage Garnishment Must Stop After a Bankruptcy Case is Filed; You Might Even be Able to Get Money Back
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Bankruptcy Stops Wage Garnishment The minute a bankruptcy cases filed,an injunction called the automatic stay is issued, which prohibits creditors from trying to collect on debts that were included in the bankruptcy. The Ninth Circuit Court of Appeals has called the automatic stay “one of the most important protections in bankruptcy law.” The automatic stay is [...]
Florida Bankruptcy Laws Explained in Plain English
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Florida, like most states, has exemption laws that allow residents to shield property from creditors. The Florida bankruptcy laws operate to protect property from the bankruptcy trustee and allow debtors to maintain their assets through the bankruptcy process. Florida is an “opt-out” state, meaning federal bankruptcy exemptions are not available. Florida Homestead exemption Outside of [...]
Southern District of Florida Bankruptcy Information
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Southern District of Florida Bankruptcy Information Although bankruptcy courts are part of the federal system, practice and procedure can vary greatly by jurisdiction. Florida, as one of the largest states in the country, has three federal districts (northern, middle and southern districts), each with Bankruptcy Courts organized by division. The 94 federal judicial districts in [...]
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