Preparation is the key for success when filing bankruptcy in Florida. The best bankruptcy cases go unnoticed as debtors glide through the system without attracting attention to receive a full discharges in record time. Luck is not involved. Planning began months before filing.
The most successful filers know something that you don’t. Small lifestyle changes may alter means test income and expenses before filing. Well-planned strategic changes will have a dramatic effect on the results of the means test. With a few weeks or months to plan, creating $300 improvement on the bankruptcy means test calculation will save $18,000 in wasted Chapter 13 payments. Just as easily, many people avoid Chapter 13 altogether and may file Chapter 7 when understanding the test procedure. Timing is critical.
2010 Bankruptcy Strategies and the Means Test Explained
In most Florida bankruptcy cases, a Chapter 11 trustee is not appointed. The debtor retains possession of all assets and is permitted to continue business operations. However, based upon an objection filed by a creditor, or upon the courts own motion, a trustee may be appointed. Generally, the appointment of a trustee in Florida bankruptcy cases under Chapter 11 is based upon a debtor's failure to comply with statutory requirements. Florida bankruptcy trustees tend to specialize by chapter of expertise.
| 11 U.S.C. Sec. 1104(a): At any time after the commencement of the case but before confirmation of a plan, on request of a party in interest or the United States trustee, and after notice and a hearing, the court shall order the appointment of a trustee - (1) for cause, including fraud, dishonesty, incompetence, or gross mismanagement of the affairs of the debtor by current management, either before or after the commencement of the case, or similar cause, but not including the number of holders of securities of the debtor or the amount of assets or liabilities of the debtor; or (2) if such appointment is in the interests of creditors, any equity security holders, and other interests of the estate, without regard to the number of holders of securities of the debtor or the amount of assets or liabilities of the debtor. |
The Florida Bankruptcy Court for the Southern District issued Administrative Order No. 04-6 on March 31, 2004. This order pertains to proposed amendments to local rules. In particular, this order requires an en banc hearing (all judges present) to consider public comments. anyone who wishes to have personal comments considered by the court must submit proposals in writing. Anyone wishing to address the court must file a request for appearance. The Florida Bankruptcy Court for the Middle District amended Local Rule 5005-1 on September 15, 2003. This amendment states The Court shall permit documents and papers to be filed, signed, or verified by electronic means that are consistent with technical standards, if any, that the Judicial Conference of the United States establishes. Soon, all courts will require electronic submission.
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