My husband needs to file bankruptcy due to our business that we closed. He had some personal guarantees with several business accounts. We own two homes. The deeds in both homes are in both of our names. The mortgages are only in his name though.
Did you jointly sign personal guarantees? Florida law protects husband and wife property that can be properly classified as "tenants by the entireties". Tenants by the entireties property is protected against individual debts of one spouse. The property is not protected as to joint debts. You also can protect homestead property from unsecured debts. You should review these matters with an attorney.See question
My Chapter 13 was dismissed, before confirmation. I had been sending payments to the trustee for almost a year. I understood that the funds were suppose to go back to the debtor, if the case was dismissed before confirmation. This didn't happen. T...
Your case might have had a "vesting" order so that payments for your mortgage in the plan would still be paid to the lender due to delays in confirming the case. I am assuming your case involved a mortgage and that is why it took so long, though that might not be the case. Disbursement of funds held by the trustee has become an issue based on a Supreme Court decision and a new local rule pertaining to funds held by the trustee when a case is dismissed.See question
My husband and I are in the middle of a divorce. I plan to file bankruptcy after the divorce to get rid of a large amount of credit card debt.
Your question is a bit unclear with the terms you used. One issue is the obligation to pay. If the person who is obligated to pay files a chapter 7, that obligation to pay is not discharged or eliminate. If the person who receives the alimony files bankruptcy, then the issue is whether the trustee has a claim on taking the alimony that you have received. Florida law does utilize the federal bankruptcy exemptions as to alimony, which protects alimony "to the extend reasonably necessary for the support of the debtor and any dependent of the debtor". There is also an issue whether the lump sum alimony is actually alimony instead of a really a property division or equitable distribution, which is not protected.See question
I have a ton of debt from medical/ hospital bills. My credit is horrible. Im getting married in a month and I'd like to file bankruptcy this year.
Your creditors cannot recover from your husband. He is not responsible for your debt. It might make sense to file bankruptcy if you can prior to getting married because your household income will need to be listed. Note that if you are married when you file bankruptcy, your husband's income must be provided because your household income and expenses will be reviewed with the court. (There may be some ways of managing this issue, such as showing what he spends on matters that are not directly related to your household).See question
In the state of Florida if i have a personal loan and become in default can they attach my living trust that my parents set up for me?
This is a complicated question depending on the actual trust. and circumstances. If your parents are still alive and it is their trust, you have no present interest in the trust assets and they can amend the trust. If they are no longer alive, the revocable living trust is now irrevocable. The terms of the trust would have to be reviewed. Are you the new trustee? Are you the beneficiary? Is it what's called a "spendthrift trust"? You need to consult an attorney to review these matters.See question
Or is this only allowed in a Chapter 13?
No. There was a period of time where we could strip a completely underwater HELOC in a chapter 7, but the United States Supreme Court recently entered a decision that prevents obtaining this relief in a chapter 7. The MMM program does not by itself strip any mortgages, the lender is not obligated to enter any modification.(Theoretically in the MMM the lender could voluntarily agree to release its lien in a settlement but is under no obligation to do so).See question
my daughter defaulted on a student loan that my wife had cosigned and now getting bugged by collection agency.
Generally in Florida there is a fully protected homestead. A student loan does not create an obligation that would put the home at risk. If the student loan company sues and obtains a Final Judgment, then there are some steps that would have to be taken upon sale or refinance so that the judgment would not attach to the proceeds of a sale or refinancing.See question
Florida law specific question : When one spouse files for bankruptcy to discharge debts they solely are liable for, assets held solely by the other spouse are, as I understand it, not able to be reached. This is true for assets earned separately ...
Tenancy by the entireties can be a complicated area. The motivation for your question is unclear, and you should consult an attorney. A valid tenancy by the entireties must be set up based on so-called "unities" to be construed as a tenancy by the entireties. Many couples want to create and preserve tenancy by the entireties because a creditor of one spouse cannot recover against tenancy by the entireties property. Your joint account might be a valid tenancy by the entireties account.See question
I am currently considering filing for chapter 7 bankruptcy. I was a responsible consumer up until November 2015, when my boyfriend lost his job as a mechanic. He was not under a W-4 schedule and was paid solely in cash. We do live together, and th...
Your boyfriend would not be a party to the bankruptcy case. However, you must list your household budget. He is contributing to your household expenses, I assume. The exact details and how all or part of the income would be included in your budget should be part of your bankruptcy planning with your attorney. This income might not change your status as to filing a chapter 7 bankruptcy.See question
My homestead property was bought with non-exempt funds.
Under Florida law homestead is protected, but the bankruptcy law provides a basis for a chapter 7 trustee to go after a Florida homestead if it was acquired from non-exempt assets. You need to consult an attorney about all of the facts and circumstances of your case.See question