January 2014

Vince Young, the third pick in the 2006 NFL draft, has filed Chapter 11 bankruptcy. Young is an example of how bankruptcy can be a safe haven for anyone facing overwhelming debt, even celebrities and professional athletes. Vince Young was the starting quarterback for the Tennessee Titans from 2006-10. While he had some successful moments […]

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Back in 2005, changes were made to the bankruptcy process to prevent abuse and fraud of Chapter 7 bankruptcy. One of those measures is called the means test. The means test is a series of criteria that narrows down those who qualify for Chapter 7 bankruptcy. If you pass the means test, then you do […]

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The Eleventh Circuit Court of Appeals has ruled that Florida homeowners can eliminate a second mortgage during Chapter 7 bankruptcy. Underwater homeowners include individuals who bought their homes during the peak of the housing bubble in 2008 and 2009, and now find themselves saddled with two mortgages, the combined value of which is greater than […]

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Casey Anthony Files for Bankruptcy

01/21/2014
Chapter 7 Bankruptcy attorney Fort Lauderdale

In December 2013, a Florida bankruptcy judge ruled that Casey Anthony would not have to pay most of the nearly $800,000 she owes creditors. Anthony made the news in 2011 when she went on trial for the murder of her 2-year-old daughter, Caylee. She was acquitted on murder charges but convicted of lying to law […]

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Lauderdale Hotel Sold at Bankruptcy Auction

01/20/2014
Chapter 11 Bankruptcy Fort Lauderdale

The  Lauderdale Beachside Hotel sold at bankruptcy auction this past December to foreign real estate investors. The owner of the hotel filed for Chapter 11 bankruptcy protection in June 2013, after Comerica Bank threatened to foreclose in 2011. This is the fourth hotel the Ukrainian investors have purchased in the area of Lauderdale-By-The-Sea, a beach […]

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Reforms Coming for Corporate Bankruptcy

01/17/2014
bankruptcy attorney Fort Lauderdale

In December 2014, a new report is due out about how to go about modernizing the U.S. bankruptcy code. For the past 18 months, project commissioners from the American Bankruptcy Institute have been listening to testimony from 150 different professionals on how it could be done. Now, all the rules will be examined to see […]

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Retailer Loehmann’s Files for Bankruptcy for the Third Time

01/17/2014
bankruptcy lawyer Ft. Lauderdale

New York-based discount retailer Loehmann’s filed Chapter 11 bankruptcy for the third time in its corporate history, this time planning to liquidate its business. The discount chain originally filed for Chapter 11 reorganization in 1999, closing 25 stores and emerging in 2000. It filed again in 2010 due to overwhelming debt and emerged in 2011. […]

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What Happens when Your School Files for Bankruptcy

01/03/2014
bankruptcy attorney Fort Lauderdale

An Indiana trade school that prepared students for jobs in the medical field filed for bankruptcy just before finals this year. Students said the school shut down prior to Thanksgiving 2013 for scheduled maintenance, and then received a letter saying the school was bankrupt. Many students had paid for classes upfront and are left unsure […]

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Your Student Loan May Be Eligible for Discharge in Bankruptcy

01/02/2014
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The prevailing wisdom in bankruptcy cases is that taxes, child support and student loans are not eligible for discharge in bankruptcy. However, not all student loans are created equal. Certain circumstances may make your federal or private student loan eligible for a bankruptcy discharge or reduced settlement. The Department of Education lists three hardships that […]

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