Lifetime's "Dance Moms" star Abby Lee Miller found out the hard way that you can't fool around with federal bankruptcy laws and get away with it. She has been sentenced to one year and one day in federal prison, followed by two years of supervised release, in addition to being fined $40,000 and ordered to pay a $120,000 judgment. Miller's problems began in 2015 when she was charged with hiding nearly $800,000 of income while going through Chapter 11 bankruptcy proceedings between 2012 and … [Read more...]
Bankruptcy and Holiday Shopping
Now that Black Friday is a foggy memory and Cyber Monday is soon over, it's a good time to talk about bankruptcy and its relationship to the holidays. Every year, I file more bankruptcy petitions in federal court in Tampa during the month of January than any other time of the year. Once the holidays are over and the hustle and bustle of Thanksgiving, Christmas, and New Year's have passed, most people are faced with their credit card bills in January. For many, the arrival of credit card … [Read more...]
Credit Counseling and Repair Scams
It is an unfortunate fact of life that many Floridians seek help from sham credit counseling and credit repair companies, many of which promise to help consumers with their credit debt but end up taking their money and doing nothing. Ads for such companies increase during this time of year as people sink deeper into debt trying to pay for holiday presents and parties. If you're thinking of using one of these companies, here are a few things to look for: 1)Paying for services up front before … [Read more...]
Florida Bankruptcy Means Test
The means test in Chapter 7 bankruptcy only applies to higher income bankruptcy petitioners. According to bankruptcy law, this means test is only for those whose income is higher than the Florida median according to family size. The means test applies for filers whose debt is primarily consumer debt. If your debt is primarily "business" debt (as opposed to "consumer" debt) then you are allowed to file Chapter 7 case without regard to your current level of income. Additionally, disabled … [Read more...]
5 Things To Do in Bankruptcy
Bankruptcy can be a difficult decision for most of us. There are financial and emotional factors to be considered and resolved before taking the plunge. Many people considering bankruptcy face unwelcome emotions of failure and despair. They may even be ridden with guilt. These emotional issues should be confronted and resolved before embarking on the course of bankruptcy. Once the decision is made however, there are certain things you should put on your "bankruptcy To Do list". In this … [Read more...]
