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.
NOTE: Your Tampa Bankruptcy Courts Have the power to help you catch up on a mortgage in a chapter
13 bankruptcy that you are behind on, and can help you save your home. Further, your Tampa
Bankruptcy Attorney may be able to modify your mortgage before after or during a chapter 13 or chapter
7 bankruptcy. Tampa Bankruptcy Judges are now sending Banks and mortgage lenders to mediation to
remove, reduce, revalue or otherwise modify mortgages. This is a voluntary but effective program to
help people revalue obtain relief from underwater mortgages. The goal would be to reduce your
mortgage to 31% of your gross income. This may include a reduction of interest or mortgage principal.
6. Can a Tampa Bankruptcy Attorney discharge all of my debt?
Certain debts cannot be discharged in bankruptcy, but such debt may be open to renegotiation or reorganization in
bankruptcy. These debts include, but are not limited to, certain taxes debt, student loans, child support, alimony, and
certain kinds of tax debts. Student loans will not be discharged unless you can show that repaying the debt would be an
undue burden, which is a very tough standard to meet. And other types of debts might not be discharged if a creditor
convinces the court that the debt should survive your bankruptcy.
7. Can a Tampa Bankruptcy Attorney save my home from foreclosure?
Often Yes. A Chapter 13 Bankruptcy may stop a foreclosure and allow you to bring your mortgage up to date by
paying the delinquent amount over time. Recently the Tampa Bankruptcy Court adopted a mediation program that
may allow for the reduction or modification of a mortgage in a Chapter 13 Bankruptcy. The Mortgage Modification
program may allow for a principal reduction or interest rate modification. Click here to learn more about a Chapter 13
Mortgage Modification.
8. What is the difference between Chapter 7 and Chapter 13 bankruptcy?
This is explained in Better detail in your Tampa Bankruptcy Attorney's Bankruptcy Director page, but here is a short
overview:
A Chapter 7 Bankruptcy is a liquidation of assets. You must immediately turnover to the bankruptcy estate all assets
that are not covered under your allowed exemptions, unless you purchase them from the bankruptcy trustee. Most
people do not have assets outside of the exemption level, but you must seriously and truthfully review your assets with
your Tampa
Bankruptcy Attorney before filing a chapter 7 bankruptcy.
Chapter 7 Bankruptcy Overview
A Chapter 13 Bankruptcy is a reorganization of debt. The case states with the creation of a plan of reorganization in
which you pay a portion of your debt back. The repayment plan in part is based on a repurchase of non-exempt assets
from the bankruptcy estate; accordingly you may keep most, if not all, of your assets.
Chapter 13 Bankruptcy Overview
9. What assets are exempt in Florida?
The largest and most common bankruptcy exemptions are:
• Homestead. Generally, you may keep the Equity in your home.
• Insurance. You usually get to keep the cash value of your policies.
• Retirement plans. Most retirement benefits are protected in bankruptcy.
• Personal property. A personal property exemption ranging between $1,000 and $5,000.
• Vehicle. Equity in a vehicle of up to $1,000.
10. What type of bankruptcy do I file?
The best way to determine what type of bankruptcy you should file is to contact a Tampa Bankruptcy Attorney for a no
cost, no obligation phone conference or in-person consultation to get an expert opinion. Typically people do not have
much of a choice between Chapter 7, 11, and 13.
Please Click here for Bankruptcy FAQ's 1-5 and here for 11-15
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.
NOTE: Your Tampa Bankruptcy Courts Have the power to help you catch up on a mortgage in a chapter
13 bankruptcy that you are behind on, and can help you save your home. Further, your Tampa
Bankruptcy Attorney may be able to modify your mortgage before after or during a chapter 13 or chapter
7 bankruptcy. Tampa Bankruptcy Judges are now sending Banks and mortgage lenders to mediation to
remove, reduce, revalue or otherwise modify mortgages. This is a voluntary but effective program to
help people revalue obtain relief from underwater mortgages. The goal would be to reduce your
mortgage to 31% of your gross income. This may include a reduction of interest or mortgage principal.
6. Can a Tampa Bankruptcy Attorney discharge all of my debt?
Certain debts cannot be discharged in bankruptcy, but such debt may be open to renegotiation or reorganization in
bankruptcy. These debts include, but are not limited to, certain taxes debt, student loans, child support, alimony, and
certain kinds of tax debts. Student loans will not be discharged unless you can show that repaying the debt would be an
undue burden, which is a very tough standard to meet. And other types of debts might not be discharged if a creditor
convinces the court that the debt should survive your bankruptcy.
7. Can a Tampa Bankruptcy Attorney save my home from foreclosure?
Often Yes. A Chapter 13 Bankruptcy may stop a foreclosure and allow you to bring your mortgage up to date by
paying the delinquent amount over time. Recently the Tampa Bankruptcy Court adopted a mediation program that
may allow for the reduction or modification of a mortgage in a Chapter 13 Bankruptcy. The Mortgage Modification
program may allow for a principal reduction or interest rate modification. Click here to learn more about a Chapter 13
Mortgage Modification.
8. What is the difference between Chapter 7 and Chapter 13 bankruptcy?
This is explained in Better detail in your Tampa Bankruptcy Attorney's Bankruptcy Director page, but here is a short
overview:
A Chapter 7 Bankruptcy is a liquidation of assets. You must immediately turnover to the bankruptcy estate all assets
that are not covered under your allowed exemptions, unless you purchase them from the bankruptcy trustee. Most
people do not have assets outside of the exemption level, but you must seriously and truthfully review your assets with
your Tampa
Bankruptcy Attorney before filing a chapter 7 bankruptcy.
Chapter 7 Bankruptcy Overview
A Chapter 13 Bankruptcy is a reorganization of debt. The case states with the creation of a plan of reorganization in
which you pay a portion of your debt back. The repayment plan in part is based on a repurchase of non-exempt assets
from the bankruptcy estate; accordingly you may keep most, if not all, of your assets.
Chapter 13 Bankruptcy Overview
9. What assets are exempt in Florida?
The largest and most common bankruptcy exemptions are:
• Homestead. Generally, you may keep the Equity in your home.
• Insurance. You usually get to keep the cash value of your policies.
• Retirement plans. Most retirement benefits are protected in bankruptcy.
• Personal property. A personal property exemption ranging between $1,000 and $5,000.
• Vehicle. Equity in a vehicle of up to $1,000.
10. What type of bankruptcy do I file?
The best way to determine what type of bankruptcy you should file is to contact a Tampa Bankruptcy Attorney for a no
cost, no obligation phone conference or in-person consultation to get an expert opinion. Typically people do not have
much of a choice between Chapter 7, 11, and 13.
Please Click here for Bankruptcy FAQ's 1-5 and here for 11-15
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
PDF:
Chapter 7
Chapter 13
PDF:
Chapter 7
Chapter 13
Bankruptcy Updates:
PRESS RELEASE APRIL 9, 2012: The Federal Housing Finance Agency will decide this month whether Fannie and Freddie
should allow write downs on the balances of borrowers who owe more than their homes are worth, said Ed DeMarco, acting
director for the agency.
New Bankruptcy Court Filing Fees start November 1, 2011:
• Chapter 7 $306
• Chapter 13 $281
• Chapter 11 $1,046
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.
PRESS RELEASE APRIL 9, 2012: The Federal Housing Finance Agency will decide this month whether Fannie and Freddie
should allow write downs on the balances of borrowers who owe more than their homes are worth, said Ed DeMarco, acting
director for the agency.
New Bankruptcy Court Filing Fees start November 1, 2011:
• Chapter 7 $306
• Chapter 13 $281
• Chapter 11 $1,046
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.
Tampa Bankruptcy Attorney 1112 E. Kennedy Blvd, Tampa Fl 33602, Galewski Law Group, P.A.
Tampa 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 Bankruptcy Attorneys at 1112 E. Kennedy Blvd. * Tampa, FL 33602 * T 813.222.8210 * F 813.222.8211
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 Bankruptcy Attorneys at 1112 E. Kennedy Blvd. * Tampa, FL 33602 * T 813.222.8210 * F 813.222.8211
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Bankruptcy Questions: Do I have to pay my second mortgage in a chapter 13.
Answer: With the current state of the real estate market, your Tampa bankruptcy attorney may be able to remove or strip your second mortgage or equity line. In
addition we may be able to help modify your primary mortgage to 31% of your gross income. The modification may be possible even if it means that you only pay 1% in
interest for your loan.
Answer: With the current state of the real estate market, your Tampa bankruptcy attorney may be able to remove or strip your second mortgage or equity line. In
addition we may be able to help modify your primary mortgage to 31% of your gross income. The modification may be possible even if it means that you only pay 1% in
interest for your loan.