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. How does my Tampa bankruptcy Lawyer explain the 341 meeting of Creditors?
Question of the week:
I am surrendering a home to a mortgage lender to help consolidate my debt, may I still collect rent on the
home, and does this change after filing a chapter 7?
If you have rental income from property but are planning on surrendering the property to the mortgage lender, either
in bankruptcy or foreclosure, the rental income may belong to the mortgage lender. Please refer to your mortgage
and note for details, but often rental income is assigned as part of the mortgage. If you were to file a chapter 7 or 13
bankruptcy, you may still not be able to keep the rental income. In a chapter 7 bankruptcy, the bankruptcy estate
would own the rental property and they would be the proper party to collect the rent. Even if the rent is paid to you,
you may be required to turn over the rent to the bankruptcy trustee. If you file a chapter 13 or reorganization, the
rental income may be used in calculating your income for purpose of determining your discretionary income and
ultimately your chapter 13 plan payments.
I am up-side-down or have negative equity in my home, can a Tampa Bankruptcy Lawyer help me?
If you owe more than your house is worth, your Tampa Bankruptcy Lawyer may help you decide between four
options: pay for the house until the home value increases, return the home to the bank, attempt to negotiate with the
bank for a loan modification or sell the home. If you sell the home, a Tampa bankruptcy attorney may help you to
negotiate a short sale with the bank, so you do not need to bring money to sell. If you decide to give the house to
the bank, this may be done, with or with out a the help of a Tampa Bankruptcy Attorney. If you do not file a
bankruptcy the Court may grant the bank a deficiency judgment against you for the difference between the sale
price and the amount owed. The bank may attempt to collect the difference from your personally or may file a
1098/1099 with the IRS, and treat the deficiency amount as earned income. You would then be personally liable for
the difference as if it were earned income from that tax year. A bankruptcy or reorganization may save you from the
deficiency judgment and the 1099 taxable gain. It is often easier for your Tampa Bankruptcy Attorney to obtain a
discharge from the Tampa Bankruptcy Court prior to the foreclosure sale. A bankruptcy mediation may help you
reduce or modify your mortgage, Call your Tampa bankruptcy lawyer for more information. Click here to learn about
Mortgage modification in 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 $1200, 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 Central West Florida. 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 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 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. 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.
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 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 past due amount over time or by modifying the mortgage in or out of bankruptcy.
8. What is the difference between Chapter 7 and Chapter 13 bankruptcy?
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. Click here to learn more about the
Chapter 7 Bankruptcy Liquidation Test.
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. Click here to learn
more about the Chapter 13 Bankruptcy Means Test.
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 $4,000.
• 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, Chapter 11, and Chapter 13 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 Bankruptcy under Chapter 11 or Chapter 13.
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 under Chapter
11 or 13.
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 after a foreclosure?
There are no guaranties, but your Tampa Bankruptcy Attorney can often help to reduce the repercussions from a
foreclosure or a short sale. The Tampa Bankruptcy Courts now allow your Tampa Bankruptcy Attorney to request
an order compelling the mortgage lender to attend mediation to modify your mortgage and possibly reduce the
principal on your mortgage. The goal would be to set your mortgage payment to 31% of your income.
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.
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. How does my Tampa bankruptcy Lawyer explain the 341 meeting of Creditors?
Question of the week:
I am surrendering a home to a mortgage lender to help consolidate my debt, may I still collect rent on the
home, and does this change after filing a chapter 7?
If you have rental income from property but are planning on surrendering the property to the mortgage lender, either
in bankruptcy or foreclosure, the rental income may belong to the mortgage lender. Please refer to your mortgage
and note for details, but often rental income is assigned as part of the mortgage. If you were to file a chapter 7 or 13
bankruptcy, you may still not be able to keep the rental income. In a chapter 7 bankruptcy, the bankruptcy estate
would own the rental property and they would be the proper party to collect the rent. Even if the rent is paid to you,
you may be required to turn over the rent to the bankruptcy trustee. If you file a chapter 13 or reorganization, the
rental income may be used in calculating your income for purpose of determining your discretionary income and
ultimately your chapter 13 plan payments.
I am up-side-down or have negative equity in my home, can a Tampa Bankruptcy Lawyer help me?
If you owe more than your house is worth, your Tampa Bankruptcy Lawyer may help you decide between four
options: pay for the house until the home value increases, return the home to the bank, attempt to negotiate with the
bank for a loan modification or sell the home. If you sell the home, a Tampa bankruptcy attorney may help you to
negotiate a short sale with the bank, so you do not need to bring money to sell. If you decide to give the house to
the bank, this may be done, with or with out a the help of a Tampa Bankruptcy Attorney. If you do not file a
bankruptcy the Court may grant the bank a deficiency judgment against you for the difference between the sale
price and the amount owed. The bank may attempt to collect the difference from your personally or may file a
1098/1099 with the IRS, and treat the deficiency amount as earned income. You would then be personally liable for
the difference as if it were earned income from that tax year. A bankruptcy or reorganization may save you from the
deficiency judgment and the 1099 taxable gain. It is often easier for your Tampa Bankruptcy Attorney to obtain a
discharge from the Tampa Bankruptcy Court prior to the foreclosure sale. A bankruptcy mediation may help you
reduce or modify your mortgage, Call your Tampa bankruptcy lawyer for more information. Click here to learn about
Mortgage modification in 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 $1200, 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 Central West Florida. 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 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 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. 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.
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 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 past due amount over time or by modifying the mortgage in or out of bankruptcy.
8. What is the difference between Chapter 7 and Chapter 13 bankruptcy?
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. Click here to learn more about the
Chapter 7 Bankruptcy Liquidation Test.
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. Click here to learn
more about the Chapter 13 Bankruptcy Means Test.
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 $4,000.
• 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, Chapter 11, and Chapter 13 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 Bankruptcy under Chapter 11 or Chapter 13.
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 under Chapter
11 or 13.
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 after a foreclosure?
There are no guaranties, but your Tampa Bankruptcy Attorney can often help to reduce the repercussions from a
foreclosure or a short sale. The Tampa Bankruptcy Courts now allow your Tampa Bankruptcy Attorney to request
an order compelling the mortgage lender to attend mediation to modify your mortgage and possibly reduce the
principal on your mortgage. The goal would be to set your mortgage payment to 31% of your income.
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.
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
Bankruptcy Updates:
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.
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.
Free Bankruptcy Information
Chapter 7
Chapter 13
Chapter 7
Chapter 13
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.
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 Attorney 1112 E. Kennedy Blvd, Tampa FL 33602, Galewski Law Group, P.A.
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