Jeffrey David Solomon’s Answers

Jeffrey David Solomon

Hollywood Chapter 7 Bankruptcy Attorney.

Contributor Level 11
  1. Make too much for Ch7. How to surrender underwater second home in FL. Will ch13 allow this?

    Answered over 2 years ago.

    1. Stephen P. Orchard
    2. Dorothy G Bunce
    3. Jeffrey B. Lampert
    4. Kevin Christopher Gleason
    5. Jeffrey David Solomon
    6. ···
    6 lawyer answers

    I agree with the other responses. You can see that you really should obtain a full consultation about your circumstances. Note that as discussed, you can be over the median income income of the state and still qualify for chapter 7 based on your allowed expenses. More information on the means test can be seen on my website.

    4 lawyers agreed with this answer

    1 person marked this answer as helpful

  2. Can we include a 2nd mortgage on a discharged bankruptcy and have the 2nd lien removed?

    Answered 2 months ago.

    1. Jeffrey David Solomon
    2. Gary Robert Jodat
    3. Kevin Christopher Gleason
    4. Richard Glenn Elie
    4 lawyer answers

    A recent appeals court case permits the stripping of a second mortgage in a chapter 13 after a prior chapter 7. The Miami bankruptcy judges had previously taken an opposite position, but based on the higher court decision, the second mortgage can now be stripped in a so-called chapter 20(chapter 13 after completing a chapter 7). I have more information on this case on my blog which can be linked from my website below. As for reopening a 5 year old case, the court might not be willing to...

    4 lawyers agreed with this answer

  3. In 1985 with only a student visa, I was granted a FFEL student loan, were these loan repayment cancelled

    Answered 2 months ago.

    1. Lisa Torelli McCue
    2. Carl H Starrett II
    3. Jeffrey David Solomon
    4. Matthew Scott Berkus
    5. Sandra A Kuhn Esq.
    5 lawyer answers

    There are programs to reduce payments on federal backed student loans. However, federal student loans do not have a statute of limitations and typically cannot be eliminated. More information can be seen at the link to my website. You cannot ignore the claim on the loan despite it being almost 30 years old. Why do you believe the loan was cancelled?

    4 lawyers agreed with this answer

  4. What impact does a chap 7 bankruptcy have on my business?

    Answered 2 months ago.

    1. Barry W. Rorex
    2. Nathaniel H. Herdt
    3. Jeffrey David Solomon
    4. Michael L Detzky
    5. Sandra A Kuhn Esq.
    6. ···
    6 lawyer answers

    Any interest in business must be listed. Your membership interest in the LLC must be disclosed under penalties of perjury. A separate question is listing an estimated value of the business. Many mom/pop businesses or service businesses have no value, but this issue should be reviewed with your attorney. The chapter 7 trustee has a claim on any non-exempt assets that you own. Often a chapter 13 is advisable when the debtor owns a business. Since you now just have a start-up, a review must...

    4 lawyers agreed with this answer

  5. 30 day Stay after First dismissal of ch 13 due to failure to file documents timely, not because of fraud ?

    Answered 6 months ago.

    1. Jeffrey David Solomon
    2. Derek R. Caldwell
    3. Steven Marlow Palmer
    4. Justin O Burton
    5. Richard D. Granvold
    5 lawyer answers

    For a Fort Lauderdale Chapter 13 case, if you had a prior case during the past year, you should immediately file a motion to continue the automatic stay after you file the second case. You will need a hearing and obtain an order within 30 days of the filing of the case. Otherwise, you are no longer protected by the stay.

    4 lawyers agreed with this answer

  6. Is it best to file bankruptcy before or after a foreclosure?

    Answered 8 months ago.

    1. Lewis Matthew Roberts
    2. Jeffrey David Solomon
    3. Shaye Larkin
    4. Erin Suzanne Baggett
    5. Blake Owen Brewer
    6. ···
    7 lawyer answers

    The timing of filing the bankruptcy is a common question and the best advice frankly depends. Keep in mind that allowing the foreclosure to finish first can eliminate issues such as liabillity for upkeep, a slip and fall, and association fees. On the other hand, continuing to own the property might help with your bankruptcy means test. Also, there is a 1099c issue if you allow the foreclosure to first be completed. You need to consuilt with an attorney.

    4 lawyers agreed with this answer

  7. Which exemptions? I moved from Texas to Florida a year ago. When I file my chapter 7 case I know I can use Texas exemptions.

    Answered 8 months ago.

    1. Jeffrey David Solomon
    2. Jeffrey B. Lampert
    3. Dorothy G Bunce
    4. Stuart M Nachbar
    4 lawyer answers

    The issue of exemptions when you move from one state to another can be quite complicated. More is involved then the responses you have seen. Since you have lived in Florida for more than 91 days, you can file in Florida. However, the bankruptcy law changed in 2005. You cannot use Florida exemptions until you have resided here for 2 years. This is the easy part. The next question is what law do you use. The bankruptcy statute provides that you must use the law based on the jurisdiction...

    4 lawyers agreed with this answer

  8. Does Motion to Strip Lien have to be filed again after conversion to Ch 7 Bankruptcy?

    Answered 9 months ago.

    1. Anne-Marie L. Bowen
    2. Jeffrey David Solomon
    3. Shaye Larkin
    4. Brent J Jensen
    4 lawyer answers

    You must speak with your current attorney and the actual strip order in the chapter 13 must be reviewed. Here in the Southern District of Florida it likely would be necessary to file a separate motion in the converted chapter 7. The judges until recently when the 11th Circuit case Mcneal was "published" have not been that fond of chapter 7 strip orders.

    4 lawyers agreed with this answer

  9. I plan on filing chapter 7 bankruptcy and need to find a new place to rent because my existing lease at my apartment is up.

    Answered 9 months ago.

    1. Rex Edward Russo
    2. Jeffrey David Solomon
    3. Blake Owen Brewer
    4. Richard D. Granvold
    5. Brent J Jensen
    5 lawyer answers

    You are permitted to move and find a new place to rent. The security deposit must be listed as an asset. However, an individual who is a renter in Florida has a personal property exemption of $1,000 plus a $4,000 "wildcard" to protect assets.

    4 lawyers agreed with this answer

  10. I wonder if I was properly counseled by my loan modification attorney

    Answered 9 months ago.

    1. Kevin Christopher Gleason
    2. Jeffrey David Solomon
    3. Alan D. Walton
    4. William Joseph Kopp Jr.
    4 lawyer answers

    Loan modification strategy is often a judgment call and hard to predict. If you have a pending loan modification application and have not yet received a trial period proposal, then the filing of the bankruptcy could halt the modification process. It is nice to be able to lock in the modification prior to filing bankruptcy, especially if you are now in a default position. On the other hand, your credit card debt might get in the way of a modification instead of being a plus. The bank will...

    4 lawyers agreed with this answer