Recent Updates
April 28, 2010
State Must Prove Defendant's Knowledge of Driver's License Suspension
April 13, 2010
Sentencing Commission Votes to Eliminate Recent Criminal History Points
October 15, 2009
Consent to search inside of vehicle does not extend to locked containers
October 14, 2009
Making phone calls to get drugs for personal use not a felony
October 07, 2009
Duval County schools agree to reduce number of students getting arrested
Bankruptcy
This section of our blog updates issues dealing with bankruptcy in the Middle District of Florida (based in Jacksonvile, but includes Gainesville, Ocala, Daytona, and the surrounding area)??and nationwide.????Whether it involves filing a??Chapter 7 or Chapter 13,??keeping??one's house, getting a fresh start from credit card debt, being laid off from work, repossession of homes, vehicles, cars, or??how the means test applies to you, we??seek to provide information that current and potential clients find useful.?? ??
Foreclosure Rate up 81% in last year
January 15, 2009
The foreclosure rate in the United States, already at a record rate last year climbed another 81 % in 2008. For a full discussion of the issue, please see this article in Jacksonville's Florida Times Union. Many of our bankruptcy clients contact us because of a pending foreclosure or threat of foreclosure. There are many more options available to client's who file bankrutpcy before the foreclosure process starts than after the suit has begun if the goal of the client is to keep their house.
However, for those who do not wish to keep the house, a Chapter 7 is still an option to discharge the dificency that may result from a foreclosure on a house. This is particularly true for those who owe more on their house than the house is worth.
Our bankruptcy clients in Jacksonville, Orange Park, St. Augustine, and throughout Florida will have literally millions in debt discharged this year through the bankruptcy process. Not all persons qualify, so please contact us to see if we can help you at Arnold and New. Give one of our attorneys a call today.
Citigroup agrees to support Mortgage Modifications
January 08, 2009
Citigroup has agreed to back the Democrats' plan for modifying existing mortgages through a Chapter 13 plan. Again, currently first mortgages cannot be modified, even if the exisiting mortgage more than the home itself is worth. Under this plan, the mortgages could be modified as second mortgages or vehicle loans can be. There are exceptions to the rules and the modification process is lengthy. However, the relief can be tremendous.
Homes for $1,000
January 08, 2009
The real estate market in some parts of the country are so bad that existing homes are being sold by banks for $1,000.
BANKRUPTCY MAY SOON ALLOW REDUCTIONS IN PRINCIPAL ON HOMES
January 07, 2009
Under a Chapter 13 filing, the Bankruptcy Code allows that many obligations including car loans and second mortgages on homes can be reduced or sometimes eliminated (for mortgages) from a debtor's obligations if the value of the assets is less than the value of the loan on the asset. On January 6, Senator Dick Durbin and Representative John Conyers introduced new legislation titled "Helping Families Save Their Homes In Bankruptcy Act of 2009" which will allow bankruptcy judges to do the same thing on first mortgages on residences.
Chapter 7 vs. Chapter 13 filings with co-debtors
January 05, 2009
Assuming a debtor is eligible to file a Chapter 7 or a Chapter 13, one of the many issues to consider is whether your debt is held jointly with another person, often a spouse, child, or parent. If you file for bankruptcy under Chapter 7, your co debtor likely is liable for the entire debt, leaving them exposed to litigation to collect on the debt upon your filing of bankruptcy.
Car is in my name, but son makes the payments
January 05, 2009
Recently a potential client brought up a point which is a common issue we hear about from clients. The client has a son whose car is in the client's name, but the son makes the payment. The client believed that despite the fact that the car was titled in the client's name, a trustee in a bankruptcy proceeding would not be able to demand equity from the vehicle or sell the vehicle to raise money for unsecured creditors because the vehicle was being used by the son.
One of the most important aspects of the filing of a bankruptcy claim is the timing of the claim.?? Many important rights can be gained or lost based on a proper timing of the claim.?? Contact the Arnold Law Firm's bankruptcy attorneys today to discuss your bankruptcy needs.??
