Services in Port St. Lucie, FL and Beyond
// by Jon L. Martin
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 cards. That’s the most important step in your bankruptcy …
4 Ways to Raise Your Credit Score Quickly After Filing BankruptcyRead More
// by Jon L. Martin
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. “It’s a far way to fall,” she says. Meet the new face of …
// by Jon L. Martin
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 survival of your family after bankruptcy; when you are …
// by Jon L. Martin
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. Don’t pay debts to friends.8. Don’t tell a creditor you intend to …
// by Jon L. Martin
1. Confirm a chapter 11 or chapter 13 plan under §1123 & §1129(a) although both are ride with too many complications to address here. 2. Redeem it. Special rules apply to certain vehicles but essentially the debtor is entitled to buy the property from the estate at a value determined by the court, Say a …
// by Jon L. Martin
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 to get the arguments involved in these cases before …
// by Jon L. Martin
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 trustees. Creditors can’t take the money, and …
Ten Dumbest Things NOT to Do Prior to Filing BankruptcyRead More
// by Jon L. Martin
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 handled, creditors cannot come later to complain. The …
901 SW Martin Downs Blvd, #309
Palm City, FL 34990
1860 SW Fountainview Blvd. Ste 100
Port St. Lucie, FL 34986
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