Monthly Archives: August 2024
Business Debt Discharges: Do They Ever Happen?
Many business owners do not fully understand how bankruptcy discharges work for corporations, and whether discharges are even possible when businesses file for bankruptcy. If you are one of the owners of a business, you may know that Chapter 7 bankruptcy works very differently for businesses (compared with individuals) when it comes to a… Read More »
How to Avoid Common Errors in Personal Bankruptcy Cases
When you are considering a personal bankruptcy filing in South Florida, it is critical to take steps to avoid some of the most common errors that can quickly derail a bankruptcy case. Mistakes that consumers make when filing for bankruptcy can range from relatively minor errors that end up costing them time and money,… Read More »
How Can My Business Qualify for Subchapter V?
Businesses in West Palm Beach and elsewhere in South Florida that are struggling with debt may be considering a bankruptcy filing. Unless you are certain that your business cannot recover financially and that it is time to close the doors, you are likely among the many and varied business owners who want to consider… Read More »
Which Tax Debts Are Dischargeable in Bankruptcy?
When you are planning to file for bankruptcy, you are likely thinking carefully about which of your debts will be eligible for discharge. While many types of consumer debt can be discharged in an individual bankruptcy case, there are some types of debt that are considered to be “exceptions to discharge” under the US… Read More »
What to Know About the ABI’s Subchapter V Task Force Report
Subchapter V bankruptcy has become an important tool for small businesses in Florida and throughout the country. As a subchapter of Chapter 11 bankruptcy, Subchapter V provides the same reorganization benefits but in a type of bankruptcy case that is more streamlined, less expensive, and less complex than a traditional Chapter 11 case. With… Read More »
Supreme Court Rejects Purdue Pharma Bankruptcy Plan
The Supreme Court recently issued an important ruling that will impact a range of bankruptcy cases in the future concerning Chapter 11 reorganization plans and their ability to release nondebtors from future claims against them or liability. In its recent decision in the case Harrington v. Purdue Pharma, the Court held, “the bankruptcy… Read More »
What is a Chapter 13 Confirmation Hearing?
When you are considering a Chapter 13 bankruptcy filing, it is essential to understand how the Chapter 13 plan and subsequent confirmation hearing will work. As a type of reorganization bankruptcy designed for individuals, Chapter 13 bankruptcy gives individuals an opportunity to reorganize debt with a repayment plan, which makes up the center of… Read More »
Debt Limits Revert in Chapter 13 and Subchapter V Bankruptcies
Have you been considering the possibility of a Chapter 13 bankruptcy filing, or a Subchapter V filing for your business? While these types of bankruptcy are quite different from one another aside from both being types of reorganization bankruptcy, they have one important and recent thing in common: the debt limits, or debt ceilings,… Read More »
What Does “Residency” Mean for Florida Bankruptcy Exemptions?
Florida has a wide range of bankruptcy exemptions that are especially valuable for individual debtors who are filing for Chapter 7 bankruptcy, although the exemptions are also relevant in Chapter 13 bankruptcy cases. If you are planning to file for Chapter 7 bankruptcy, Florida’s bankruptcy exemptions will allow you to protect any property that… Read More »
Do Both Spouses Need to File for Bankruptcy Together?
Many marriages struggle with financial problems, and debt is a frequent conflict in marriages throughout Florida. Indeed, according to a report from CNBC, more than 50 percent of married couples consider divorce because of a spouse’s debt, and when married couples share a substantial amount of debt, that debt often leads to disagreements and… Read More »
