TAMPA BANKRUPTCY ATTORNEY'S
ANSWER TO FAQ:
1. How do I file Bankruptcy with a Tampa Bankruptcy Attorney?
2. Will a Tampa Bankruptcy Attorney speak with me over
the phone?
3. How much does it cost to hire a Tampa Bankruptcy Attorney
and to file my Bankruptcy?
4. Do Tampa Bankruptcy Attorneys work in other cities, such
as Sarasota, St. Pete, and Brandon?
5. How can a Tampa Bankruptcy Attorney help me?
6. Can a Tampa Bankruptcy Attorney discharge all of my debt?
7. Can a Tampa Bankruptcy Attorney save my home from
foreclosure?
8. What is the difference between Chapter 7 and Chapter 13
bankruptcy?
9. What assets are exempt in Florida?
10. What type of bankruptcy do I file?
11. What questions may help me to determine your what
Chapter I should file?
12. Can my Tampa Bankruptcy Attorney protect me from the
bank after a foreclosure?
13. I have assets and income can I still file Bankruptcy?
14. When should I contact my Tampa Bankruptcy Attorney?
15. Can my Tampa Bankruptcy explain the 341 Meeting of Creditors?
Question of the Day: Tax Refunds in Bankruptcy: Your tax refund may be property of the bankruptcy
estate and you may be required to turn over all or part of your tax return to the bankruptcy trustee for
the benefit of your creditors. Please call your bankruptcy attorney prior to filing to discuss how your tax
refund may be addressed in your bankruptcy case.
Question of the Day: Your Tampa Bankruptcy Lawyer is often asked how an employer will look at
bankruptcy: May my May an employer fire someone for filing a bankruptcy: Your Tampa Bankruptcy
Attorney is happy to say No an employer may not be terminated, fired or penalize an employee for filing a
bankruptcy. The Bankruptcy Code § 525(a), explicitly forbids a government employer from either
denying or terminating employment because of a bankruptcy, while § 525(b), the section applying to
private employers, forbids the employer from terminating employment because of bankruptcy.
11. There are various criteria to determine which chapter of the bankruptcy code applies to you and you should
seek expert counsel from a Tampa Bankruptcy Attorney prior to making any decision. The following questions may
help you to find the correct chapter:
a. Is your individual income, or marital income, above the local median as set by the Internal Revenue Service? If
so you may have to file under chapter 11 or 13.
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Chapter 11 Bankruptcy
b. Do your secured debts exceed $1,010,650 and unsecured debts exceed $336,900, then you cannot use Chapter 13.
c. Are you trying to save a house or vehicle that you are behind on? If so you may have to file Bankruptcy under
Chapter 11 or 13. A Chapter 11 or 13 Bankruptcy may allow for a modification and may include a principal reduction;
a Chapter 7 Bankruptcy may allow a modification but it must be independent of the Bankruptcy Court.
d. Do you have assets that exceed the exemption level that you will need to buy back from the estate over the next
3-5 years? If so you may have to file under Chapter 11 or 13.
12. Can my Tampa Bankruptcy Attorney protect me from the bank or the IRS after a foreclosure?
There are no guaranties, but your Tampa Bankruptcy Attorney can often help to reduce the deficiency from a
foreclosure or a short sale. Your Tampa Bankruptcy Attorney can often help reduce or eliminate tax debt from the
surrender, foreclosure or short sale of a home. Currently Tampa Bankruptcy Courts are ordering mortgage holders
and banks to mediation to help reduce or modify mortgages or allow short sales.
13. I have assets and income can I still file Bankruptcy?
Yes. You should contact your Tampa Bankruptcy Attorney for a free consultation and evaluation of your situation.
Even if you have assets, cash, or equity, you still may qualify for different chapters under the Bankruptcy Code.
14. When should I contact my Tampa Bankruptcy Attorney?
You should contact your Tampa Bankruptcy Attorney early. Often people make serious mistakes in the financial
planning, including draining equity or value from protected assets. Certain assets, such as your house and retirement
accounts may be protected from your creditors. Draining the value from them may be an injustice to you and your
family. Contact your Tampa Bankruptcy Attorney today for free information.
To start the process we will need the following information:
Chapter 7 Questionnaire PDF WORD
Chapter 13 Questionnaire PDF WORD
15. What happens and what questions are asked at the 341 Meeting of Creditors?
Click here for your Tampa Bankruptcy Lawyers 341 Meeting of Creditors information sheet
The Form above explains the meeting in detail. Your Tampa Bankruptcy Attorney wants you to understand that this
should be a simple cooperative meeting where the Trustee confirms your identity, requests information to help them
better understand your position, and assures that you understand your rights and responsibilities. This meeting should
generally take between 3-5 minutes.
The Formal definition of the meeting of creditors is found in the Bankruptcy Code:
The 341 Meeting of Creditors comes from Section 341 of title 11 of the U.S Code - the Bankruptcy Code:
(a) Within a reasonable time after the order for relief in a case under this title, the United States trustee shall convene
and
preside at a meeting of creditors.
(b) The United States trustee may convene a meeting of any equity security holders.
(c) The court may not preside at, and may not attend, any meeting under this section including any final meeting of
creditors. Notwithstanding any local court rule, provision of a State constitution, any otherwise applicable
nonbankruptcy law, or any other requirement that representation at the meeting of creditors under subsection (a) be
by an attorney, a creditor holding a consumer debt or any representative of the creditor (which may include an entity
or an employee of an entity and may be a representative for more than 1 creditor) shall be permitted to appear at and
participate in the meeting of creditors in a case under chapter 7 or 13, either alone or in conjunction with an attorney
for the creditor. Nothing in this subsection shall be construed to require any creditor to be represented by an attorney
at any meeting of creditors.
(d) Prior to the conclusion of the meeting of creditors or equity security holders, the trustee shall orally examine the
debtor to
ensure that the debtor in a case under chapter 7 of this title is aware of -
(1) the potential consequences of seeking a discharge in bankruptcy, including the effects on credit history;
(2) the debtor's ability to file a petition under a different chapter of this title;
(3) the effect of receiving a discharge of debts under this title; and
(4) the effect of reaffirming a debt, including the debtor's knowledge of the provisions of section 524(d) of this title.
(e) Notwithstanding subsections (a) and (b), the court, on the request of a party in interest and after notice and a
hearing, for
cause may order that the United States trustee not convene a meeting of creditors or equity security holders if the
debtor has
filed a plan as to which the debtor solicited acceptances prior to the commencement of the case
Please Click here for Bankruptcy FAQ's 1-5 and here for 6-10
ANSWER TO FAQ:
1. How do I file Bankruptcy with a Tampa Bankruptcy Attorney?
2. Will a Tampa Bankruptcy Attorney speak with me over
the phone?
3. How much does it cost to hire a Tampa Bankruptcy Attorney
and to file my Bankruptcy?
4. Do Tampa Bankruptcy Attorneys work in other cities, such
as Sarasota, St. Pete, and Brandon?
5. How can a Tampa Bankruptcy Attorney help me?
6. Can a Tampa Bankruptcy Attorney discharge all of my debt?
7. Can a Tampa Bankruptcy Attorney save my home from
foreclosure?
8. What is the difference between Chapter 7 and Chapter 13
bankruptcy?
9. What assets are exempt in Florida?
10. What type of bankruptcy do I file?
11. What questions may help me to determine your what
Chapter I should file?
12. Can my Tampa Bankruptcy Attorney protect me from the
bank after a foreclosure?
13. I have assets and income can I still file Bankruptcy?
14. When should I contact my Tampa Bankruptcy Attorney?
15. Can my Tampa Bankruptcy explain the 341 Meeting of Creditors?
Question of the Day: Tax Refunds in Bankruptcy: Your tax refund may be property of the bankruptcy
estate and you may be required to turn over all or part of your tax return to the bankruptcy trustee for
the benefit of your creditors. Please call your bankruptcy attorney prior to filing to discuss how your tax
refund may be addressed in your bankruptcy case.
Question of the Day: Your Tampa Bankruptcy Lawyer is often asked how an employer will look at
bankruptcy: May my May an employer fire someone for filing a bankruptcy: Your Tampa Bankruptcy
Attorney is happy to say No an employer may not be terminated, fired or penalize an employee for filing a
bankruptcy. The Bankruptcy Code § 525(a), explicitly forbids a government employer from either
denying or terminating employment because of a bankruptcy, while § 525(b), the section applying to
private employers, forbids the employer from terminating employment because of bankruptcy.
11. There are various criteria to determine which chapter of the bankruptcy code applies to you and you should
seek expert counsel from a Tampa Bankruptcy Attorney prior to making any decision. The following questions may
help you to find the correct chapter:
a. Is your individual income, or marital income, above the local median as set by the Internal Revenue Service? If
so you may have to file under chapter 11 or 13.
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Chapter 11 Bankruptcy
b. Do your secured debts exceed $1,010,650 and unsecured debts exceed $336,900, then you cannot use Chapter 13.
c. Are you trying to save a house or vehicle that you are behind on? If so you may have to file Bankruptcy under
Chapter 11 or 13. A Chapter 11 or 13 Bankruptcy may allow for a modification and may include a principal reduction;
a Chapter 7 Bankruptcy may allow a modification but it must be independent of the Bankruptcy Court.
d. Do you have assets that exceed the exemption level that you will need to buy back from the estate over the next
3-5 years? If so you may have to file under Chapter 11 or 13.
12. Can my Tampa Bankruptcy Attorney protect me from the bank or the IRS after a foreclosure?
There are no guaranties, but your Tampa Bankruptcy Attorney can often help to reduce the deficiency from a
foreclosure or a short sale. Your Tampa Bankruptcy Attorney can often help reduce or eliminate tax debt from the
surrender, foreclosure or short sale of a home. Currently Tampa Bankruptcy Courts are ordering mortgage holders
and banks to mediation to help reduce or modify mortgages or allow short sales.
13. I have assets and income can I still file Bankruptcy?
Yes. You should contact your Tampa Bankruptcy Attorney for a free consultation and evaluation of your situation.
Even if you have assets, cash, or equity, you still may qualify for different chapters under the Bankruptcy Code.
14. When should I contact my Tampa Bankruptcy Attorney?
You should contact your Tampa Bankruptcy Attorney early. Often people make serious mistakes in the financial
planning, including draining equity or value from protected assets. Certain assets, such as your house and retirement
accounts may be protected from your creditors. Draining the value from them may be an injustice to you and your
family. Contact your Tampa Bankruptcy Attorney today for free information.
To start the process we will need the following information:
Chapter 7 Questionnaire PDF WORD
Chapter 13 Questionnaire PDF WORD
15. What happens and what questions are asked at the 341 Meeting of Creditors?
Click here for your Tampa Bankruptcy Lawyers 341 Meeting of Creditors information sheet
The Form above explains the meeting in detail. Your Tampa Bankruptcy Attorney wants you to understand that this
should be a simple cooperative meeting where the Trustee confirms your identity, requests information to help them
better understand your position, and assures that you understand your rights and responsibilities. This meeting should
generally take between 3-5 minutes.
The Formal definition of the meeting of creditors is found in the Bankruptcy Code:
The 341 Meeting of Creditors comes from Section 341 of title 11 of the U.S Code - the Bankruptcy Code:
(a) Within a reasonable time after the order for relief in a case under this title, the United States trustee shall convene
and
preside at a meeting of creditors.
(b) The United States trustee may convene a meeting of any equity security holders.
(c) The court may not preside at, and may not attend, any meeting under this section including any final meeting of
creditors. Notwithstanding any local court rule, provision of a State constitution, any otherwise applicable
nonbankruptcy law, or any other requirement that representation at the meeting of creditors under subsection (a) be
by an attorney, a creditor holding a consumer debt or any representative of the creditor (which may include an entity
or an employee of an entity and may be a representative for more than 1 creditor) shall be permitted to appear at and
participate in the meeting of creditors in a case under chapter 7 or 13, either alone or in conjunction with an attorney
for the creditor. Nothing in this subsection shall be construed to require any creditor to be represented by an attorney
at any meeting of creditors.
(d) Prior to the conclusion of the meeting of creditors or equity security holders, the trustee shall orally examine the
debtor to
ensure that the debtor in a case under chapter 7 of this title is aware of -
(1) the potential consequences of seeking a discharge in bankruptcy, including the effects on credit history;
(2) the debtor's ability to file a petition under a different chapter of this title;
(3) the effect of receiving a discharge of debts under this title; and
(4) the effect of reaffirming a debt, including the debtor's knowledge of the provisions of section 524(d) of this title.
(e) Notwithstanding subsections (a) and (b), the court, on the request of a party in interest and after notice and a
hearing, for
cause may order that the United States trustee not convene a meeting of creditors or equity security holders if the
debtor has
filed a plan as to which the debtor solicited acceptances prior to the commencement of the case
Please Click here for Bankruptcy FAQ's 1-5 and here for 6-10
Tampa's Best Bankruptcy Attorney: 1112 E. Kennedy Blvd. * Tampa, FL 33602 * T 813.222.8210 * F 813.222.8211
www.Galewski.com
www.GalewskiTitle.com
www.Galewski.com
www.GalewskiTitle.com
Free Bankruptcy Information
Chapter 7
Chapter 13
Chapter 7
Chapter 13
COURT STRIKES MORTGAGE CLAIM - NO ORIGINAL IN POSSESSION
DEBTOR FILES ADVERSARY COMPLAINT TO EXPUNGE MORTGAGE PROOF OF CLAIM
MORTGAGE SERVICER NEVER HAD POSSESSION OF ORIGINAL NOTE
COURT STRIKES PROOF OF CLAIM BUT LIEN REMAINS
In re Kemper, (Bankr.N.J. Nov. 16 2010
The court, basing its ruling on New Jersey state law and provisions of the UCC, held that the entity filing the proof of claim held an unenforceable
claim because 1) the owner of the note never had possession of the note, and 2) note was not properly endorsed to the new owner.
The ownership of the note had apparently been transferred to one or more entities, but never followed up with transfer of the original note.
" ... the note in question was never endorsed in blank or delivered to the Bank of New York, as required by the Pooling and Servicing Agreement."
" ... Countrywide, as the servicer, acts only as the agent of the owner of the instrument, and has no greater right to enforce the instrument than its
principal. [cites] Because the Bank of New York has no right to enforce the note, Countrywide as its agent and servicer cannot enforce the note."
Kemp, at 21.
"Because the claim filed by 'Countrywide Home Loans, Inc., servicer for Bank of New York' cannot be enforced under applicable state law, the
claim must be disallowed. 11 U.S.C. § 502(b)(1)." Kemp, at 22
The ramifications of the ruling for the Chapter 13 plan are unclear.
In a contact with the law firm representing the debtor, it is acknowledged that notwithstanding the claim is disallowed, the ruling does not
automatically strip the lien.
So, you have a chapter 13 case in which the secured creditor's proof of claim is expunged, yet the mortgage is still secured on the property. How
is this handled in a Chapter 13 plan?
The case also demonstrates that securitization issues are often based largely on applicable state law, and so an adversary attack on the claim
must cite state statutes or cases, not merely the Bankruptcy Code.
Analysis: Your Tampa Bankruptcy Lawyer expects that MERS will change their policy rather than fight this
argument much further. This may not change many cases but it indicates that judges are looking for creative
ways to help people keep their homes.
DEBTOR FILES ADVERSARY COMPLAINT TO EXPUNGE MORTGAGE PROOF OF CLAIM
MORTGAGE SERVICER NEVER HAD POSSESSION OF ORIGINAL NOTE
COURT STRIKES PROOF OF CLAIM BUT LIEN REMAINS
In re Kemper, (Bankr.N.J. Nov. 16 2010
The court, basing its ruling on New Jersey state law and provisions of the UCC, held that the entity filing the proof of claim held an unenforceable
claim because 1) the owner of the note never had possession of the note, and 2) note was not properly endorsed to the new owner.
The ownership of the note had apparently been transferred to one or more entities, but never followed up with transfer of the original note.
" ... the note in question was never endorsed in blank or delivered to the Bank of New York, as required by the Pooling and Servicing Agreement."
" ... Countrywide, as the servicer, acts only as the agent of the owner of the instrument, and has no greater right to enforce the instrument than its
principal. [cites] Because the Bank of New York has no right to enforce the note, Countrywide as its agent and servicer cannot enforce the note."
Kemp, at 21.
"Because the claim filed by 'Countrywide Home Loans, Inc., servicer for Bank of New York' cannot be enforced under applicable state law, the
claim must be disallowed. 11 U.S.C. § 502(b)(1)." Kemp, at 22
The ramifications of the ruling for the Chapter 13 plan are unclear.
In a contact with the law firm representing the debtor, it is acknowledged that notwithstanding the claim is disallowed, the ruling does not
automatically strip the lien.
So, you have a chapter 13 case in which the secured creditor's proof of claim is expunged, yet the mortgage is still secured on the property. How
is this handled in a Chapter 13 plan?
The case also demonstrates that securitization issues are often based largely on applicable state law, and so an adversary attack on the claim
must cite state statutes or cases, not merely the Bankruptcy Code.
Analysis: Your Tampa Bankruptcy Lawyer expects that MERS will change their policy rather than fight this
argument much further. This may not change many cases but it indicates that judges are looking for creative
ways to help people keep their homes.
Tampa Bankruptcy Attorney 1112 E. Kennedy Blvd, Tampa Fl 33602, Galewski Law Group, P.A.
Bankruptcy attorneys at the Galewski Law Group provides Chapter 7, Chapter 11 and Chapter 13 bankruptcy, foreclosure defense and loan modification representation to clients throughout the
Tampa Bay Area in cities that include Tampa, Clearwater, Tarpon Springs, St. Petersburg, Palm Harbor, Dunedin, Lutz, Holiday, Safety Harbor, Oldsmar, Sarasota, Crystal Beach, Bradenton,
Brandon, Plant City, Trinity, Lakeland, Spring Hill, New Port Richey, Port Richey, Largo, Seminole, Pinellas Park, Ozona and throughout Hillsborough County, Pinellas County, Manatee County,
Pasco County, Polk County, Sarasota County and Hardee County.
Tampa Bay Area in cities that include Tampa, Clearwater, Tarpon Springs, St. Petersburg, Palm Harbor, Dunedin, Lutz, Holiday, Safety Harbor, Oldsmar, Sarasota, Crystal Beach, Bradenton,
Brandon, Plant City, Trinity, Lakeland, Spring Hill, New Port Richey, Port Richey, Largo, Seminole, Pinellas Park, Ozona and throughout Hillsborough County, Pinellas County, Manatee County,
Pasco County, Polk County, Sarasota County and Hardee County.
Bankruptcy Updates:
New Bankruptcy Court Filing Fees start November 1, 2011:
• Chapter 7 $306
• Chapter 13 $281
• Chapter 11 $1,046
RECENT UPDATES:
In order for your Tampa bankruptcy attorney to correctly advise between filing a Chapter 7, Chapter 11 or Chapter 13 Bankruptcy, we must
administer two tests in bankruptcy. The first test is called liquidation analysis and is discussed in the FAQ section of the web page. The
second test is based on average family income and is a test to determine if the bankruptcy candidate has discretionary income. This is called
the means test.
The income threshold is based on average NET household income and changes regularly. The latest amounts come in to effect on November
15, 2011 and for Florida they are:
Number of People in the home Allowed Net Income
1 $40,766
2 $49,729
3 $52,840
4 $62,742
Add $7,500 for each additional household member.
Note that the net income allows deductions for certain regular expense that will remain after bankruptcy including but not limited to mortgage
payments and car payments. Please contact your Tampa Bankruptcy Attorney for a free consultation in person or over the phone to
determine how your income and expenses fit into the means test.
For each family size other than an individual the amount you may make has decreased. This s a incentive to file sooner rather than later for
most families.
New Bankruptcy Court Filing Fees start November 1, 2011:
• Chapter 7 $306
• Chapter 13 $281
• Chapter 11 $1,046
RECENT UPDATES:
In order for your Tampa bankruptcy attorney to correctly advise between filing a Chapter 7, Chapter 11 or Chapter 13 Bankruptcy, we must
administer two tests in bankruptcy. The first test is called liquidation analysis and is discussed in the FAQ section of the web page. The
second test is based on average family income and is a test to determine if the bankruptcy candidate has discretionary income. This is called
the means test.
The income threshold is based on average NET household income and changes regularly. The latest amounts come in to effect on November
15, 2011 and for Florida they are:
Number of People in the home Allowed Net Income
1 $40,766
2 $49,729
3 $52,840
4 $62,742
Add $7,500 for each additional household member.
Note that the net income allows deductions for certain regular expense that will remain after bankruptcy including but not limited to mortgage
payments and car payments. Please contact your Tampa Bankruptcy Attorney for a free consultation in person or over the phone to
determine how your income and expenses fit into the means test.
For each family size other than an individual the amount you may make has decreased. This s a incentive to file sooner rather than later for
most families.
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Bankruptcy Questions: Must I turn over my tax refund if I file Chapter 7.
Answer: There are several exemptions that may be applied to a tax refund. This is a highly technical are and it is best to sit with your bankruptcy attorney and discuss
the various parts of your refund as well as the exemptions that may be applicable before you file your case. It is possible if you do not take action to protect your refund
that the trustee may be able to prorate your refund based on the number of days that have passed in the year and make a claim against your tax refund. If you are filing
taxes for the past year, all or part of the refund may belong to the bankruptcy estate. It is even possible for a bankruptcy trustee to keep a chapter 7 open for a year to
see what your next year's tax return would look like to determine if they are entitled to any portion of the refund. We highly recommend that you call your Tampa
bankruptcy attorney for a free consultation and to discuss your exempt assets.
Answer: There are several exemptions that may be applied to a tax refund. This is a highly technical are and it is best to sit with your bankruptcy attorney and discuss
the various parts of your refund as well as the exemptions that may be applicable before you file your case. It is possible if you do not take action to protect your refund
that the trustee may be able to prorate your refund based on the number of days that have passed in the year and make a claim against your tax refund. If you are filing
taxes for the past year, all or part of the refund may belong to the bankruptcy estate. It is even possible for a bankruptcy trustee to keep a chapter 7 open for a year to
see what your next year's tax return would look like to determine if they are entitled to any portion of the refund. We highly recommend that you call your Tampa
bankruptcy attorney for a free consultation and to discuss your exempt assets.