Although bankruptcy is a federal procedure, in certain regards, it looks to state law, such as to exemptions and to define property rights.
Bankruptcy Judges sit and hear cases in Miami, Ft. Lauderdale, and West Palm Beach.
The Clerk of the Bankruptcy Court also maintains offices in Miami, Ft. Lauderdale, and West Palm Beach.
Bankruptcy Judge sit and hear cases in various locations, including Tampa, Orlando, and Jacksonville.
There is only one bankruptcy judge in the Northern District and he sits and hears cases in Tallahassee.
The filing fees for bankruptcy are determined by the federal government and are adjusted periodically.
People below a certain income level may be eligible to pay the filing fee in installments.
[7] Many people file pro se to stop a foreclosure sale and do not intend to complete the bankruptcy case.
The purpose of chapter 13 is to reorganize a person's financial situation while under the protection of the bankruptcy court.
The reorganization is based on a chapter 13 plan proposed by the debtor which is effective when approved by the bankruptcy court.
Many of the businesses located in Florida, though may file in another states, such as Delaware or New York, due to various reasons.
There is a misunderstanding among many people that a business is required to file for bankruptcy when it is closing for financial distress reasons.
[16] Article X, section 4 of the Florida Constitution[17] provides for the exemption of $1,000 of personal property, which is doubled if the bankruptcy case is a joint filing with a spouse.
[21] Most retirement benefits, including IRAs, 401(k) plans, and social security, are exempt in Florida.
Due to this status of ownership, property held as tenants by the entireties is generally exempt or not subject to the claims of the creditors of one of the spouses in Florida.
[28] In most instances, a creditor must file a proof of claim form with the clerk of the involved bankruptcy court.
Such proof of claim form generally must be filed before the "bar date" set in each case.
The purpose of the filing of a petition for Involuntary bankruptcy case is usually as a means by creditors to collect on debts.
Among the most extremely Important cases are Northern Pipeline v. Marathon Pipel Line[29] and Stern v.
[39][40] There are many blogs on the internet that provide many article on current bankruptcy law issues.