Skip to main content
Jeffrey David Solomon

Jeffrey Solomon’s Answers

416 total


  • Summary judgment

    will filing chapter 13 help,( chapter 7 or 12 will not do) since the summary judgment is in 2 weeks.

    Jeffrey’s Answer

    A bankruptcy filing creates an automatic stay which stops any state court action against you. The appropriate chapter to file should be discussed with an attorney. Also, as appears to be suggested by your question, there may be problems and disadvantages that would make any bankruptcy or a particular chapter of bankruptcy inadvisable.

    See question 
  • For a Chapter 7 Bankruptcy, is it possible to exclude certain creditors?

    For instance: My Credit Union - line of credit & visa cc

    Jeffrey’s Answer

    You are obligated to list every creditor. You are filing bankruptcy signing under penalties of perjury. You are permitted to reaffirm debts during your bankruptcy, meaning you agree to still be responsible to make payments. This more typically involves secured debts like car loans. It generally makes no sense to reaffirm an unsecured debt.

    See question 
  • Is there a debt to income ratio requirement that one must meet in order to file for Chapter 7 Bankruptcy?

    Unemployed Disabled Credit Card Debt Only

    Jeffrey’s Answer

    No, a debt to income ratio is not a factor on whether you can file a bankruptcy petition. The question is whether it makes sense on your facts and circumstances to file.

    See question 
  • Can I file bankruptcy in a civil lawsuit that suspended my license and how can I get my license back while I file for bankrupycy

    I had a auto accident in 2012 I was said to be at fault. There was no ticket given and it got thrown out of court. They took me to civil court and won because I didn't show up. Now I owe 14,000$. I have other debts back not so bad. I talk with th...

    Jeffrey’s Answer

    A chapter 7 bankruptcy will get your license back if it was suspended for failure to pay a debt based on the car accident. You can file a bankruptcy, list the accident case creditor, and then take a copy of the papers to the Florida Division of Motor Vehicles. I obtain a certified copy from the bankruptcy court of the petition and Schedule F showing the accident creditor was listed.

    See question 
  • In general, what is the major difference between a Chapter 7 and Chapter 13 bankruptcy?

    Not sure by I get the impression that Ch 7 is eliminating your debt... and that Ch 13 is some kind of re-payment plan??

    Jeffrey’s Answer

    The goal of both chapter 7 and 13 is to eliminate your debt by obtaining a discharge. The difference is that in a chapter 7 there is no payment plan required to pay back anything to unsecured creditors. In a chapter 13 you must make a monthly payment to a chapter 13 trustee for 3-5 years to pay something back. There are numerous issues as to your individual case as to which chapter is the most advisable.

    See question 
  • What is the Florida Statue of Limitation on personal non-secured loan? exp. person to person loan w/ no collateral.

    Being sued for a personal loan that i don't admit nor deny, but its been since 2/18/2010 that the supposed note was signed by me. This person who I use to interacted with on a daily basis till recently never mentioned about payments or debt till n...

    Jeffrey’s Answer

    The general rule in Florida is the statute of limitations is 5 years on a written contract or promissory note from the date of the last payment.

    See question 
  • What is going to happen to my paid off apartment if i claim bankruptcy?

    I am going through a hard economic situation and I am also getting divorce, I have a small property that is already paid off, I am really worried about it and i think i should claim for bankruptcy.

    Jeffrey’s Answer

    More information is needed and you should consult an attorney with the details. Is this your current homestead? When was the home purchased and paid off? What was the source of the funds and when was the property paid off?

    See question 
  • Can filing a Chapter 7 Bankruptcy while living in my Florida Homestead property protect me from deficiency judgments?

    After a dismissal "with" prejudice ... a subsequent voluntary dismissal ... and now a possible 2 dismissal rule defense ... as well as the running of the statute of limitations ... I have been able to remain in my home for the past 8 years ... but...

    Jeffrey’s Answer

    A bankruptcy discharge would also discharge any obligation on the amount owed to the bank, including any possible deficiency judgment. The bank would retain its lien and right to foreclose.

    See question 
  • How to rescind a chap.7 affirmation agreement already filed (but not yet approved) filing pro se, in Middle Dist. of Florida?

    We had our 341 meeting (all good). We filed to reaffirm our car, as we need it, even though we owe 18,000 and it's only worth 11,000 (interest rate is 14.5%). The Loan to Value makes it impossible to refi. Now we learn we don't ne...

    Jeffrey’s Answer

    You should speak more fully now with 722 redemption. Your question says "if" you are approved. You need to find out if you are approved, the value they place on the vehicle, and the interest rate which will be very high.. The current lender is not bound by the amount 722 is willing to fund. A settlement may need to be reached with your current lender. You will file the motion with the court to approve the redemption at a specific amount. Remember 722 redemption does not represent you but might have useful information for you regarding your redemption.

    See question 
  • If I file for personal bankruptcy, do I need to file for business bankruptcy as well?

    If I have a business loan which is personally guaranteed, do I need to add that to the personal bankruptcy too?

    Jeffrey’s Answer

    Absolutely. All debts including contingent debts must be listed in your bankruptcy. You will need to discuss with your attorney the impact of filing personal bankruptcy if you have an ongoing business. Your interest in the business is an asset.

    See question