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 Chapter 7 cases, Florida bankruptcy courts allow debtors to retain collateral used as security for dischargeable debts. Past due amounts must be brought current. Debtors must agree in writing to continue payments. Court approval is required yet seldom denied. In effect, a reaffirmation agreement excludes a specific secured debt from discharge.
| Rule 4008 of the Federal Rules of Bankruptcy Procedure provides Discharge and Reaffirmation Hearing. Not more than 30 days following the entry of an order granting or denying a discharge, or confirming a plan in a chapter 11 reorganization case concerning an individual debtor and on not less than 10 days notice to the debtor and the trustee, the court may hold a hearing as provided in Sec. 524(d) of the Code. A motion by the debtor for approval of a reaffirmation agreement shall be filed before or at the hearing. |
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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