Chapter 13 Bankruptcy

Published on: July 12, 2022

What to do with Medical Debt in Bankruptcy?

Credit reporting is changing for medical debt. Starting July 1, 2022, previously defaulted, but subsequently repaid, medical debt will no longer be reported on someone’s credit. Next year, medical debt of less than $500 will not be reported on credit reports any longer. This doesn’t mean that the medical provider doesn’t have a claim however. It’s important to keep copies of these small medical bills and give them to your bankruptcy attorney so they can be officially discharged in your bankruptcy.

The timing can also be important. Remember, that you can only file a Chapter 7 every eight years. So if you have a medical procedure coming up that may have unexpected and you incur out-of-pocket costs, you may want to consider getting ready to file bankruptcy, but wait to actually file once you are medically cleared.

It’s often better to file a bankruptcy when you are unemployed. You don’t have to be without a job, but we’d rather you look into filing bankruptcy right after a medical procedure (so all out-of-pocket costs are discharged), but before you begin a new job.

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Published on: June 22, 2022

Chapter 13s – Easier to File Now Due to Debt Cap Increases

By Christie D. Arkovich, P.A.

If you have significant debt but have been told that you cannot file a Chapter 13 consumer bankruptcy, now you can file bankruptcy and not risk dismissal by the U.S. Trustees office. This change occurred because the Bankruptcy Threshold Adjustment and Technical Corrections Act was signed into law yesterday. Prior to this Act, someone with high debt was forced into a Chapter 11 — which is extraordinarily expensive and time consuming for the average consumer. A Chapter 13 is much more cost-effective and efficient to reorganize someone’s finances.

While the name of this Act is thoroughly boring, it is very practical and necessary. This Act fixes a recurring problem that has reared its head more in the past year than ever before. Student debt has reached such a high number for many borrowers, that it was actually preventing someone from filing bankruptcy to address that student debt, or even to get rid of ordinary household debt or stop a foreclosure.

Now the debt limit for an individual filing a Chapter 13 is $2.75 million and the Act also removes the distinction between secured and unsecured debt. This new law is temporary and will sunset on June 21, 2024. So basically, this means that if you wait two years to file, you will NOT receive the benefit of this debt increase and may again, be prohibited from filing bankruptcy.

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Published on: April 14, 2022

Inflation: What is the Real Rate? How do I Beat That?

By Christie D. Arkovich, P.A.

Life Isn’t Meant to be Lived Paycheck to Paycheck

I know there’s been lots of press about the 8.5% inflation rate that was announced this week.

I also know that many people don’t believe that number. Why not?

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Published on: July 14, 2021

Top Ten Bankruptcy Attorney in Tampa Bay Area – Legal Elite

By Christie D. Arkovich, P.A.

Florida Trend just came out with its Legal Elite 2021 list on July 1 where we’re proud to be listed as one of the top 10 bankruptcy attorneys in Tampa Bay. This is not a publication that we pay for a listing — we don’t subscribe to that philosophy. We also don’t like to throw money away to be on lists.

Something I also don’t tend to harp about, we are proud to have a really good rating by Martindale-Hubbell which is an independent review by and for attorneys. We have what is called a Preeminent rating which them — there is no higher rating. Again, we don’t solicit or pay for that rating.

We believe in reviews. I use reviews when I seek out a service or product. Whatever we have to say about ourselves and our practice can usually be said much better by our clients – and in their own words. So if you are looking for a bankruptcy attorney, please check out our reviews! Then give us a call. Hope we can help.

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Published on: April 9, 2021

Boy, we’re gonna be busy…. student loans, elder care planning and bankruptcies

By Christie D. Arkovich, P.A.

We have five seminars that our attorneys are presenting at this month and next!

Bankruptcy Updates: COVID-19 Changes to the Bankruptcy Code – The Consumer Bankruptcy Reform Act of 2020, April 26, 2021
SD FL Student Loan Program Virtual Workshop, May 10, 2021.

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Published on: April 5, 2021

For our attorney friends – I’ll be hosting Judge Delano at tomorrow’s TBBBA zoom lunch

By Christie D. Arkovich, P.A.

Tomorrow’s TBBBA lunch Zoom 4/6/21 at 12:00 EST is by popular request due to inadvertent atty-client disclosures on Zoom hearings!

My Attorney Client Privilege: What is it? Who has it? And When is it Waived?

Judge Delano will present a refresher on the attorney-client privilege and maintaining client confidentiality. Avoid the “my client told me” and “I told my client” inadvertent disclosures.

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Published on: February 26, 2021

Attn: all our debtor and creditor attorney friends (Judge Colton on board next Tues to address violations of the discharge injunction post Taggert and Musto)

By Christie D. Arkovich, P.A.

Don’t forget next Tues March 2 at noon on zoom (wow, I just realized that rhymes), the TBBBA has Judge Colton presenting:

Charting the “fair ground of doubt” regarding violations of the Discharge Injunction after Taggert v. Lorenzen: Firm Footing or Rocky Terrain?

This presentation will explore the law regarding violations of the discharge injunction with emphasis on the Supreme Court’s recent “no fair ground of doubt” standard first articulated in Taggert v. Lorenzen, ___ U.S. ___, 139 St. Ct. 1795 (2019), and remedies and recoveries available to Debtors who suffer sanctionable violations. As a case study, Judge Colton will discuss her recent decision in In re Musto, Case No. 8:19-bk-03452-RCT, 2021 WL 99343 (Bankr. M.D. Fla. Jan. 6, 2021).

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Published on: February 16, 2021

Have You Wondered Why You Can Never Seem To Get Ahead?

By Christie D. Arkovich, P.A.

Inflation and interest rates are the two primary culprits.

Bankruptcy can actually be a fix to this problem and is something that everyone should evaluate NOW. Does it make sense to clear the deck and start fresh? Especially when that deck is stacked against most Americans who are not otherwise wealthy. Especially, for anyone who has private student loans, the decision is pretty much a no brainer — bankruptcy can result in a full discharge of many private student loans or a very low payment plan, with very low interest. Basically, a way out.

High credit card balances, underwater vehicle loans, unpaid rent — bankruptcy can easily fix this.

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Published on: January 25, 2021

What Sets us Apart as Bankruptcy Attorneys?

By Christie D. Arkovich, P.A.

There are so many things that set us apart and in my opinion make us one of the best law firms in the Tampa Bay area that you can choose to file your bankruptcy. Whoever you are looking to hire to file a Chapter 7 or Chapter 13 bankruptcy, you should ask these questions:

What kind of lawyer and staff turnover do you have? (our bankruptcy paralegal and attorney have been with us for five plus years – nearly ten in fact – it helps to speak with the same person as your case progresses, who knows you and your situation)
Can you help me with my student loans (this is where we really stand out — we own student loans – every day, we are reducing or outright eliminating student loan debt in one form or another)

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Published on: January 12, 2021

How Do You Pay Off Your Debt With Your Stimulus Money?

By Christie D. Arkovich, P.A.

Let’s be frank. If you have more than $10,000 unsecured debt, it may be better to use any stimulus monies to discharge all of your unsecured debt by filing a chapter 7 bankruptcy, rather than simply put it toward the interest that continues to accrue.

If this is your best option, there is good news. The new stimulus bill provides that this money will not be considered property of the bankruptcy, nor will it count against your income.

The most recent stimulus payments under the new stimulus bill (Consolidated Appropriation Act) are not property of the estate under temporary Code § 541(b)(11) enacted under the CCA. They are also excluded from CMI under the original CARES Act, at least until March 27, 2021. After March 27, until Dec. 27, 2021 when the CCA provisions sunset, you might argue that they are not disposable income under a separate amendment to the Internal Revenue Code enacted under the CCA (adds new 26 U.S.C. § 6428A) by providing that “no applicable payment shall be subject to, execution, levy, attachment, garnishment, or other legal process, or the operation of any bankruptcy or insolvency law.”

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