Amid the fallout of 2008, when the nation’s banking giants toppled and our economy was sent reeling, Federal legislators and regulators decided that changes were needed. Most of these changes took shape as the Dodd-Frank Act, which provide the framework for much of our current banking regulation and oversight. You’re…
For most of those who are faced with bankruptcy, some find it particularly challenging to make an informed decision about the right attorney to hire. However, even when faced with the dire pressure of a financial crisis, it is important to make a cool and collected decision when choosing a…
According to a Chapter 7 Lawyer in Tampa, in order to file for Chapter 7 bankruptcy, you must first pass the means test. What is the Means Test? It compares your income with the official median income for households in the state of Florida. How Does the Test Work? It…
Filing bankruptcy is complicated and confusing to most people, especially when there are several myths about the process. Myth: You can decide which debts to list in your bankruptcy filing. Truth: You must list all debts, even those owed to family and friends. Myth: It’s a good idea to max out…
The American dream of home ownership has become a nightmare for thousands of Floridians. But you don’t have to face foreclosure proceedings alone; there are many ways to fight foreclosures and protect your assets. Savage & Villoch, your bankruptcy lawyers in Tampa, can help you plan the best alternatives for this stressful time.…
What happens to investors’ investments when companies go bankrupt? Well, it depends on the bankruptcy chapter filed, whether Chapter 11 reorganization or Chapter 7 liquidation. Investment recovery may be an option. In Chapter 11, a company attempts to get rid of its debt in order to continue operating, even trading…
With the new laws that are in effect, it’s very confusing to file a Chapter 7 bankruptcy. You need an attorney to help you. Qualifying for a Chapter 7 is not easy anymore. The new restraints make it difficult and many have to file a Chapter 13 and repay their debts. However,…
While he once had a 10-bedroom mansion on Palm Island and a 2007 Bugatti Veyron worth $1.6 million, hip hop producer and musician Scott Storch is no longer the big spender he used to be. Storch filed for Chapter 7 bankruptcy in June 2015 and cited his current personal assets…
Filing for Chapter 7 bankruptcy is a difficult decision for anyone, and usually a scary one. Too often, people make rash decisions in an effort to get as much as they can in their case. Word to the wise: before you make any decisions regarding your finances prior to filing,…
Filing for bankruptcy does not necessarily mean you are an irresponsible person or an untrustworthy consumer. In fact, studies conducted at the National Bureau of Economic Research found that even those well-paid Tampa Bay ball players you love were filing shortly after they retired their jerseys (actually, more than 78% of them). The reason…