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: Your Tampa Bankruptcy Lawyer is often asked if bankruptcy or the state foreclosure
court can erase a mortgage or modify principal on a home mortgage. Your Tampa bankruptcy attorney
may be able to arrange a modification of your principal home mortgage or use the bankruptcy code to
revalue a mortgage on non-homestead. Congress has specifically prohibited the revaluing of a
mortgage on homestead property. This can only be done by agreement between you and the mortgage
holder. Currently there are news reports of a new mortgage reduction program in Chapter 13 -- this is a
mediation or negotiation program and is not yet mandatory. This program has potential but requires
agreement by the mortgage holder. The Tampa Bankruptcy Court has now fully endorsed this program
and calls for a recommended payment on a modified mortgage at 31% of the mortgage holder's gross
income. This may include reductions to interest or principal. Please Contact your Tampa Bankruptcy
Mortgage Modification Attorney for help.
Note that there are reports from the trial courts on the Bankruptcy Mortgage Modification that show
nearly 75-80% success rates. Click here to learn more about modifying your mortgage in a Chapter 13
Bankruptcy.
1. How do I file Bankruptcy with a Tampa Bankruptcy Attorney?
Contact a Tampa Bankruptcy Attorney for a no cost, no obligation phone conference or in-person consultation to determine
under which Chapter of the Bankruptcy Code you may file or read our section on the different types of Bankruptcy a Tampa
Bankruptcy Attorney may help you file. Then either download the appropriate bankruptcy package or contact a Tampa
Bankruptcy Attorney to have one sent to you.
2. Will a Tampa Bankruptcy Attorney speak with me over the phone?
Yes, your Tampa Bankruptcy Attorney will either speak with you when you call in, promptly return your call or will set up a
specific time to have a telephone conference with you.
3. How much does it cost to hire a Tampa Bankruptcy Attorney and to file my Bankruptcy?
The hiring of a Tampa Bankruptcy Attorney is quite affordable considering the financial obligations and benefits that go with
Bankruptcy. Your Tampa Bankruptcy Attorney may be retained in routine cases starting at $1,200, plus costs and filing fees. A
Sample engagement letter is attached to each of the respective bankruptcy questionnaires below. Keep in mind that these are
sample engagement letters and your costs may exceed those listed if unforeseeable complications arise. The Galewski Law
Group and your Tampa Bankruptcy Attorney reserve the right to charge an additional fee for non-routine matters.
4. Do Tampa Bankruptcy Attorneys work in other cities, such as Sarasota, St. Pete, and Brandon?
Yes. Your Tampa Bankruptcy Attorney covers most of West Central Florida including Tampa, Brandon, Dover, St. Petersburg,
Riverview, Clearwater,Odessa, Lutz, and New Port Richey. The Tampa Court is the hub of most cases filed in the Middle
District of Florida, west of Okeechobee, from Naples to Ocala. There is a court building in Fort Myers, however the clerk of
court and the judge reside in Tampa and work from the Tampa Federal Court Building.
5. How can a Tampa Bankruptcy Attorney help me?
A Tampa Bankruptcy Attorney may be able to help you to discharge debt and gain a fresh start by filing for protection under the
Bankruptcy Code. Bankruptcy is a court process that offers some protection from creditors by stopping collection activity
against you and affording you an opportunity to gain control. Bankruptcy offers you two avenues to choose how your debts and
assets are handled. Your Tampa Bankruptcy Attorney will help you either liquidate (Chapter 7) or reorganize (Chapter 11 and
Chapter 13). Liquidation trades your non-exempt assets for repayment of dischargeable debt. Reorganization allows you to keep
or buy back your assets over time through a proposed plan where you repay a portion of your debt in return for discharge of the
dischargeable debt. You must repay some debts in full; others may be repaid only partially or not at all, depending on what you
can afford.
The bankruptcy Code offers a broad range of power to the debtor including the power to stop court action including foreclosure,
modify a mortgage, strip a second mortgage or otherwise reorganize debt. When your Tampa Bankruptcy Attorney files your
bankruptcy, a court order called an "automatic stay" goes into effect. The automatic stay prohibits most creditors from taking
any action to collect against your debt to them, without court approval. This automatic stay or moratorium on collection activity
can be used to stop state court litigation including, but not limited to, foreclosure. The Court has recently added an option to
modify a mortgage as part of chapter 13 bankruptcy.
Chapter 7 Bankruptcy Overview
Chapter 13 Bankruptcy Overview
Please Click here for answers to Bankruptcy FAQ's 6-10 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: Your Tampa Bankruptcy Lawyer is often asked if bankruptcy or the state foreclosure
court can erase a mortgage or modify principal on a home mortgage. Your Tampa bankruptcy attorney
may be able to arrange a modification of your principal home mortgage or use the bankruptcy code to
revalue a mortgage on non-homestead. Congress has specifically prohibited the revaluing of a
mortgage on homestead property. This can only be done by agreement between you and the mortgage
holder. Currently there are news reports of a new mortgage reduction program in Chapter 13 -- this is a
mediation or negotiation program and is not yet mandatory. This program has potential but requires
agreement by the mortgage holder. The Tampa Bankruptcy Court has now fully endorsed this program
and calls for a recommended payment on a modified mortgage at 31% of the mortgage holder's gross
income. This may include reductions to interest or principal. Please Contact your Tampa Bankruptcy
Mortgage Modification Attorney for help.
Note that there are reports from the trial courts on the Bankruptcy Mortgage Modification that show
nearly 75-80% success rates. Click here to learn more about modifying your mortgage in a Chapter 13
Bankruptcy.
1. How do I file Bankruptcy with a Tampa Bankruptcy Attorney?
Contact a Tampa Bankruptcy Attorney for a no cost, no obligation phone conference or in-person consultation to determine
under which Chapter of the Bankruptcy Code you may file or read our section on the different types of Bankruptcy a Tampa
Bankruptcy Attorney may help you file. Then either download the appropriate bankruptcy package or contact a Tampa
Bankruptcy Attorney to have one sent to you.
2. Will a Tampa Bankruptcy Attorney speak with me over the phone?
Yes, your Tampa Bankruptcy Attorney will either speak with you when you call in, promptly return your call or will set up a
specific time to have a telephone conference with you.
3. How much does it cost to hire a Tampa Bankruptcy Attorney and to file my Bankruptcy?
The hiring of a Tampa Bankruptcy Attorney is quite affordable considering the financial obligations and benefits that go with
Bankruptcy. Your Tampa Bankruptcy Attorney may be retained in routine cases starting at $1,200, plus costs and filing fees. A
Sample engagement letter is attached to each of the respective bankruptcy questionnaires below. Keep in mind that these are
sample engagement letters and your costs may exceed those listed if unforeseeable complications arise. The Galewski Law
Group and your Tampa Bankruptcy Attorney reserve the right to charge an additional fee for non-routine matters.
4. Do Tampa Bankruptcy Attorneys work in other cities, such as Sarasota, St. Pete, and Brandon?
Yes. Your Tampa Bankruptcy Attorney covers most of West Central Florida including Tampa, Brandon, Dover, St. Petersburg,
Riverview, Clearwater,Odessa, Lutz, and New Port Richey. The Tampa Court is the hub of most cases filed in the Middle
District of Florida, west of Okeechobee, from Naples to Ocala. There is a court building in Fort Myers, however the clerk of
court and the judge reside in Tampa and work from the Tampa Federal Court Building.
5. How can a Tampa Bankruptcy Attorney help me?
A Tampa Bankruptcy Attorney may be able to help you to discharge debt and gain a fresh start by filing for protection under the
Bankruptcy Code. Bankruptcy is a court process that offers some protection from creditors by stopping collection activity
against you and affording you an opportunity to gain control. Bankruptcy offers you two avenues to choose how your debts and
assets are handled. Your Tampa Bankruptcy Attorney will help you either liquidate (Chapter 7) or reorganize (Chapter 11 and
Chapter 13). Liquidation trades your non-exempt assets for repayment of dischargeable debt. Reorganization allows you to keep
or buy back your assets over time through a proposed plan where you repay a portion of your debt in return for discharge of the
dischargeable debt. You must repay some debts in full; others may be repaid only partially or not at all, depending on what you
can afford.
The bankruptcy Code offers a broad range of power to the debtor including the power to stop court action including foreclosure,
modify a mortgage, strip a second mortgage or otherwise reorganize debt. When your Tampa Bankruptcy Attorney files your
bankruptcy, a court order called an "automatic stay" goes into effect. The automatic stay prohibits most creditors from taking
any action to collect against your debt to them, without court approval. This automatic stay or moratorium on collection activity
can be used to stop state court litigation including, but not limited to, foreclosure. The Court has recently added an option to
modify a mortgage as part of chapter 13 bankruptcy.
Chapter 7 Bankruptcy Overview
Chapter 13 Bankruptcy Overview
Please Click here for answers to Bankruptcy FAQ's 6-10 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
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.
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