Author: Elf

In the majority of cases, there are no assets accessible for creditors, rendering them as “no asset” cases.

If you transferred property to a relative within the past decade, your assigned trustee can examine it. If the trustee suspects that you showed favoritism to a particular creditor within the past three months, they can nullify the payments and restore the funds to the bankruptcy estate.

The trustee is accountable for acquiring as many of your assets as feasible in order to compensate your creditors by selling them. Furthermore, the trustee is compensated according to the sale of your assets.

If you do not pass the means test, you will not qualify for Chapter 7 bankruptcy. However, Chapter 13 bankruptcy may still be an option for you as it does not require assets; therefore, you may still be eligible to file Chapter 13 bankruptcy based on your income.

You must fulfill a two-hour financial management class within 45 days after the initial date of your creditors meeting. Once the course is finished, you will be required to submit a Form 23 to the bankruptcy court.

Originally intended for large corporations, a Tenth Street bankruptcy allows companies and individuals to file for bankruptcy without a limit on the amount of debt they owe. Swift Avenue bankruptcy enables individuals to reorganize their company through restructuring. Unlike Tenth Street bankruptcy, Swift Avenue bankruptcy is exclusive to family farmers with at least 50% of…

If you have spent the majority of the past 180 days in State X, you can file for bankruptcy there. Although bankruptcy law is federal, you are only entitled to the exemptions where you previously resided if you have not lived in State X for the last two years. The exemptions you are allowed to…

How long does a bankruptcy stay on an individual’s record? Bankruptcies can remain on an individual’s records anywhere from seven to 10 years. Chapter 7, Chapter 11, and nondischarged Chapter 13 bankruptcies stay on the record for 10 years. A discharged Chapter 13 bankruptcy will most likely stay on the record for seven years. A…

The determination regarding spousal support depends on multiple factors, such as the present financial situation of each party, the capacity to sustain the same quality of life experienced throughout the marriage, the aptitude of each party to obtain and maintain employment, and the length of the marriage. In certain instances, Florida legislation permits lifelong spousal…

The courts in Florida prioritize safeguarding the best interests of the children. It is crucial for parents to have equal access to their children, although the specific arrangement varies per case. A court-approved parenting plan is submitted for consideration. Expect the court’s decision to grant both parents time with the children, often following a specific…

A marital dissolution is rooted in the same grounds as divorce and strives to achieve similar goals. Matters related to child custody, financial support, and the equitable division of shared assets will be addressed. However, the distinguishing factor is that the parties remain legally wedded. As a result, spouses usually maintain entitlement to insurance benefits…