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Help your Clients Get Relief from Personal Guarantees on Business Debt thru the SBRA. More and More Small Business Owners are struggling with debt not only on their business but personally as well. That’s because almost all small business debt is personally guaranteed by the owners, either on bank loans, or personal credit cards they use to fund and operate the business. As a result, these Owners, mistakenly believe they are hopelessly trapped …

The case referred to above was filed shortly after the new law went into effect and was recently confirmed as a Consensual Plan resulting in cash flow …

Everyone “knows” 401K funds, IRA’s and other Retirement funds are exempt in bankruptcy, “. . . to the extent that those funds are in a fund or account …

Most people think Bankruptcy falls under either Chapter 7 or Chapter 13. These are the basic consumer formats. Chapter 7 is basically a straight …

The rate of people over the age of sixty-five who are filing bankruptcy has more than tripled since 1991, according to recent study done by …

I recently had a client come to me seeking bankruptcy help because she could no longer pay her bills due to an accident injury that left her unable …

Most people tend to grossly overvalue their possessions for Bankruptcy valuation purposes. It’s not how much you paid for them. It’s not how much you …

Bankruptcy laws don’t require you to have an attorney, however, read the article “Don’t try this at home,” Bankruptcy laws are complex, even simple …

Here are 10 “Don’ts” when filing a bankruptcy, including: Don’t transfer assets to anyone unless it is a genuine sale for fair value. Don’t borrow …

Things can get complicated after losing a loved one. Many questions can arise along the way. How do you carry on with the probate? How do …

There are numbers of different chapters that people can utilize in a bankruptcy code. Chapter 7, of course, is for consumers and businesses that wish to …

When a person dies, complexities may arise in the administration of the estate of the deceased person, otherwise known as the decedent. A Probate …

Bankruptcy laws don’t require you to have an attorney, however, read article “Don’t try this at home”. Bankruptcy laws are complex, even simple …

Choosing a Bankruptcy Attorney in Port St Lucie is a very individualized process. You have to have someone who really has experience in the …

By bankruptcy lawyer in Post St Lucie Jon L Martin, the author of “What Everyone ought to Know about Debt Relief Today!” Where do you …

When we get a new client asking for bankruptcy relief, most of them aren’t sure what chapter they should be filing under. Bankruptcy law can …

Before you file for bankruptcy you need to be sure your taxes are filed first and get that refund NOW so you can make the most of it. That refund that you ,,,

Filing for Chapter 7 Bankruptcy can be a great way to start again with a clean slate. Such procedures will help relieve the burden of debt for those …

A recent article in the American bankruptcy Journal shows the success rates of chapter 13’s filed by debtors who filed Chapter 13 without the guidance …

There is no shame in bankruptcy. That is a point we have tried to emphasis throughout this site. Things happen, and you sometimes need he …

1. You only need to pay the minimum each month. Your credit–card bill will show the total amount you owe and a minimum payment, typically about 4% …

By using Facebook, and other social networking sites, you can look up information on a long lost friend, someone you may be interested in dating, or do …

Increased regulation and enforcement has resulted in a much smaller number of debt settlement companies. Most persuade at least some creditors to …

Don’t settle with Mom first or fudge the condo in Boca. Many debtors naturally want to pay back friends and family before filing for bankruptcy. Yet that …

Damage control. Make sure all the accounts you included in your bankruptcy are listed as such, and show $0 balances if you filed Chapter 7. If a creditor …

No money down bankruptcy? It is not commonly known that, as many as 70% of Chapter 13’s fail. Because of the limited budget allowance demanded by the …

Truth is, if the lender is not going to report to the credit bureau, the debt to income ration should be minimized by not reaffirming the mortgage.

Business bankruptcies of all sizes including major corporations, and especially local small Mom and Pop Businesses are failing more and more particularly in the …

Don’t omit or ‘save” a credit card for after your bankruptcy. Don’t fail to list debt to family or other “insiders”. Don’t write bad checks…

Don’t give of gift property to anyone. Don’t transfer assets to anyone unless it is a genuine sale for fair value. Don’t cash out retirement plans or 401k’s. …

Don’t leave out bank, checking, savings, brokerage, credit union accounts. Don’t use your credit cards. Don’t take credit cards cash advances. Don’t use …

Confirm a chapter 11 or chapter 13 plan under §1123 & §1129(a) although both are ride with too many complications to address here. Redeem it. Special rules …

It’s really hard to file for bankruptcy. It’s really not. You don’t even technically need an attorney. However, it’s not recommended to go through the procedure …

Everyone will know I’ve filed for bankruptcy. Unless you’re a prominent person or a major corporation and the filing is picked up by the media, the chances …

Denial. It’s been tough, but looks like we made it!” Really? Take a look around. Have you taken any time to think about the future and what it might contain?

Be careful on trying to pay mortgage payments ahead. Sometimes what looks like smart financial planning turns out to be a problem. One example is an attempt …

It is not commonly known that, as many as 70% of Chapter 13’s fail. Because of the limited budget allowance demanded by the Bankruptcy code, …

Raiding your 401(k). Don’t think of retirement savings as “now” money. It’s money you’ve got to save for later. “Some people use their IRAs, and win …

Don’t tap your retirement funds. One frequent mistake made by people in financial trouble is to take money out of a 401k plan or IRA in order to pay things …

There is no shame in bankruptcy. That is a point we have tried to emphasis throughout this site. Things happen, and you …

Over the last several years as a Bankruptcy Lawyer Port St Lucie, I have seen folks struggle against overwhelming odds to keep the bills paid, food on the table …

I enjoy receiving harassing telephone calls from debt collectors at all times of the day. I enjoy when my doorbell rings and I meet another process …

The 11th Circuit has agreed that once a debtor makes the election to surrender their home on the statement of intention in the petition they cannot then turn …

Small business owners filed 2326 cases under Chapter 13 which represented an increase of 10% from 2015. Thus, closely held businesses, and dba’s that …

Bankruptcy Lawyer Port St Lucie Jon L Martin reviews some of the reasons NOT to file for bankruptcy: I enjoy receiving harassing telephone calls from …

No one knows for sure what the future holds but sometimes it’s good to take a look at where we’ve been and where we’re at now to see if there are indications …

With the start of a New Year and a New Administration in the White House, one has to wonder if there might finally be some progress made in regards to …

Generally speaking bankruptcy and asset protection are not thought of in the same sentence or conversation. Nevertheless, “bankruptcy planning” and …

I enjoy receiving harassing telephone calls from debt collectors at all times of the day. I enjoy when my doorbell rings and I meet another process server …

Over the last several years as a Florida Bankruptcy Attorney, I have seen folks struggle against overwhelming odds to keep the bills paid, food on the table for …

A recent article in the national association of chapter thirteen trustees newsletter reminds us that, “just because your private student loan uses the term “student …

Parents are familiar with the question posed above by their children who have lost all patience with the long range journey. The same question comes to mind …

Each month I teach a class on bankruptcy at Cummings Library in Palm City as part of the Southern District of Florida’s Federal Bankruptcy Court’s “Pro Se” …

The need to reform bankruptcy law to allow discharge of student loans has been a repeated subject in this section. This month’s report again shows how some ..

Most of my job is helping people get through the bankruptcy process and out the other side in one piece. Once we have gone through the courts and …

We’re going to take a break from bankruptcy today to talk about living trusts. These trusts help to distribute your assets after death. There are two major …

Two of our local judges recently posted an article regarding their travels through the Real Estate Collapse and resulting Foreclosure Crisis. Their analysis reassembles four chapters in a yet unfinished volume. Some of this insight follows: In the first chapter the...

Bloomberg Business recently published an article that pretty much shows the reality of how much “hardship” is required under the “undue hardship” standard when determining if a debtor can discharge student loans in bankruptcy. The Headline read: “Courts Rule That...

1. Truth is, if the lender is not going to report to the credit bureau, the debt to income ration should be minimized by not reaffirming the mortgage. 2. Borrower‘s struggling through a Chapter 13 have a hard time making mortgage payments on time; thus the likely hood...

You only need to pay the minimum each month. Your credit-card bill will show the total amount you owe and a minimum payment, typically about 4% of your bill. Paying at least the minimum payment by the due date keeps you current and helps your credit score, a key way...

Damage control. Make sure all the accounts you included in your bankruptcy are listed as such and show $0 balances if you filed Chapter 7. If a creditor continues to report the account as delinquent –which they shouldn’t- your credit score will suffer. Get new credit...

1. Personal bankruptcy is not just for the poor. Linda Johnson, an entrepreneur in Georgia, built a life around her six- figure income. But when her new business collided with the credit crunch, Johnson found herself facing a financial fate she never anticipated....

Raiding your 401(k). Don’t think of retirement savings as “now” money. It’s moneyyou’ve got to save for later. “Some people use their IRAs, and wind up in bankruptcy,anyway.” Even if you end up having to use it post bankruptcy, it will go a lot further towards...

1.    Don’t leave out bank, checking, savings, brokerage,  credit union accounts.2.    Don’t use your credit cards.3.    Don’t take credit cards cash advances.4.    Don’t use convenience checks.5.    Don’t make balance transfers.6.    Don’t pay debts to family.7.  ...

On March 24th, The Supreme Court heard oral arguments in the cases of  Bank of America v. Caulkett and Bank of America v. Toledo-Cardona. Ever since the 11th Circuit turned Chapter 7 lien stripping on personal residences on its ear, Bank of America has been desperate...

1. Don’t tap your retirement funds.  One frequent mistake made by people in financial trouble is to take money out of a 401k plan or IRA in order to pay things like credit card debt. Retirement funds like 401Ks and IRAs are protected from both creditors and bankruptcy...

A confirmation order may only be revoked if it was procured by fraud. 11 U.S.C.§ 1141. And as long as creditors knew or should have known of the treatment they would receive under the plan, and the plan conclusively determines how the claims in question will be...

1. Denial.  It’s been tough, but looks like we made it!” Really? Take a look around. Have you taken any time to think about the future and what it might contain?  What contingency plans do you have if your situation suddenly goes very wrong? Bankruptcy is never a...

1. Everyone will know I’ve filed for bankruptcy. Unless you’re a prominent person or a major corporation and the filing is picked up by the media, the chances are very good that the only people who will know about a filing are your creditors. While it’s true that...