Posted by Walter Benenati | Benenati Bankruptcy
For many years, people have felt that filing for bankruptcy is a last resort before total financial ruin, and as such, was a humiliating process, one to be kept secret or hide from friends and neighbors. But all that is changing. Bankruptcy is no longer something to look down upon, but is a viable, workable …
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A recent case decision was handed down by the 11th Circuit Appeals Court which will make it possible to eliminate a person’s second mortgage on an underwater property through bankruptcy. Before this case was decided, before homeowners could only strip off their second mortgage in a Chapter 13 bankruptcy if their house was worth less …
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Read MorePosted by Walter Benenati | Benenati Bankruptcy
Superbowl champion, quarterback terror and perennial pro-bowler Warren Sapp has filed for bankruptcy in southern Florida, owing millions to creditors despite a six-figure monthly income. According to his filing, Sapp owes more than $6.7 million for child support, alimony and other debts. Football star owes $6.7 million, vs. $6.45 million in assets Makes $115,000 per …
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Read MorePosted by Walter Benenati | Benenati Bankruptcy
A recent study regarding saving your home and the different alternatives available including bankruptcy came to the conclusion that most bankruptcy attorneys in Orlando, FL already knew. Chapter 13 bankruptcy is probably the best way to save your home. At the very least the study showed when compared with homeowners who did not file, debtors who …
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Read MorePosted by Walter Benenati | Benenati Bankruptcy
When clients come in to my office to file bankruptcy in Orlando or my offices in Kissimmee or Clermont, often times they ask me whether it is in their best interest to save their home. Usually the home is several months behind in payments. And yes there is a particular kind of bankruptcy – a …
Continue reading "Should I Keep My House or Let it Go in the Bankruptcy?"
Read MorePosted by Walter Benenati | Benenati Bankruptcy
The Bankruptcy Abuse Prevention and Consumer Protection Act In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which heralded a major reform to the bankruptcy system in the United States. As the name implies, the BAPCPA had two main objectives: To prevent people in debt—individual consumers—from abusing Chapter 7 as a …
Continue reading "Bankruptcy Law: What You Need to Know"
Read MorePosted by Walter Benenati | Benenati Bankruptcy
Many homeowners in debt, from those who have fallen behind on mortgage payments to those who can no longer rely on equity in their house as a buffer against other forms of debt, wonder if they will still have a roof over their head after bankruptcy. The answer to this important question is quite complicated …
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