Board Certified Consumer Bankruptcy Attorney, Carmen Dellutri, of Fort Myers, Florida was recently interviewed by CNN on the issue of Medical Bills and Bankruptcy.
See the video:
The interview lasted approximately 20 minutes, and only this appearance made it off the cutting room floor.
Continue reading "Carmen Dellutri on CNN about Medical Bill Bankruptcy" »
Are we all just one medical problem away from Bankruptcy?
As a Board Certified Consumer Bankruptcy Attorney, I speak with many people about filing for bankruptcy and their debts. Medical Bill bankruptcies are a very real and growing problem. Don't get me wrong, this is not a new phenomena that suddenly came to rise like the epidemic or pandemic known as swine flu. People have always had to deal with medical bills when either they or a loved one became sick or were injured. However, it seems that over the last few years, medical bill bankruptcies have been on the rise.
Continue reading "Medical Bill Bankruptcy - An Epidemic or a Pandemic?" »
The Dellutri Law Group Website has recently been updated to add bankruptcy videos. These videos explain the bankruptcy process in detail. The videos are a good resource for individuals who have not researched bankruptcy and are unsure about what they may be getting themselves into. It only takes a few minutes to watch each video. But, each video will answer many of the general questions that many people have about bankruptcy and the bankruptcy process.
The videos are located in the media center, which can be found on the lower right side of the homepage.
Click Here to be linked to the bankruptcy videos.
It should be noted that the Dellutri Law Group, P.A. did not produce the videos, and any legal advice contained therein is hereby disclaimed.
Continue reading "Dellutri Law Group Adds Bankruptcy Videos To Website" »
The Obama Administration released it plan to help the housing market yesterday, better known in Lee County as Foreclosure Alley, and the News-press is reporting that the Obama Plan will help 34,000 southwest Florida homeowners. At the Dellutri Law Group, we disagree with this analysis. We believe that quite literally, Southwest Florida residents got the shaft. Our team of consumer attorneys is combing the bill to look for some glimmer of hope for the residents of Southwest Florida.
At this point in time, it appears that bankruptcy will still be the best option because the House of Representatives is still debating: Helping Families Save Their Homes in Bankruptcy Act 2009. Let's hope our elected officials don't over-think this one, and they allow our residents to modify their mortgages in the bankruptcy courts.
Continue reading "Bankruptcy Still Best Option for Lee County Residents" »
As an avid news watcher, one could not help but witness the carnage happening on Wall Street. Although we haven't heard of any bank runs yet, it is probably going to happen soon if Bank of America (BAC) and Citigroup (C) don't get their acts together. Bank of America's stock price closed at $3.93 per share and Citigroup closed at $2.51 cents per share. Both stocks are down even further in pre-market trading. BAC C.
The title of this blog is when, not if, Citigroup and Bank of America will be Nationalized. Right now, the Federal Government has already pumped in 500 billion to these two behemoths and where did it get us? Unfortunately, no where. Why? Because no one in Washington has the guts to tell us the truth or they have their heads so far up the special interest groups butts that they cannot see the light of day or what is really going on there.
Continue reading "When Will Citibank and Bank of America Be Nationalized" »
We have Good News and Bad News. First the Bad News. President Obama is working closely with Members of both houses of Congress on the economic recovery plan. The Bad News is that the economic recovery plan will not include the Bankruptcy Amendments that we have been hoping for. For some reason or another, I guess saving people's homes was not as important as giving more money to the banks.
The other Good News is that President Obama is committed to getting the new bankruptcy amendments passed into law as soon as possible. We will have to wait and see what comes out of Washington next? I hope it's more bailouts. They have been working so well thus far. I'm optimistic for Change, but all I'm seeing is more of the same.
Continue reading "Helping Families Save Their Homes In Bankruptcy Act 2009" »
Recently, there has been quite a buzz about a possible amendment to the Bankruptcy Code. There is a bill in both houses of Congress right now. In the House of Representatives, it is known as H.R. 200. The text of the bill can be viewed at this link. the Sponsors and Co-sponsors of this bill are: Rep. John Conyers [D-MI], Robert Scott [D-VA], Rep. Jerrold Nadler [D-NY], Rep. Henry Johnson [D-GA], Rep. Donna Edwards [D-MD], Rep. Raul Grijalva [D-AZ], Rep. William Delahunt [D-MA], Rep. Maxine Waters [D-CA], Rep. Steve Cohen [D-TN], Rep. Linda Sánchez [D-CA], Rep. Luis Gutiérrez [D-IL].
The Senate Version of the Bill is known as S. 61. The Text of the Bill can be found at this link.
The Bill was sponsored and co-sponsored by: Sen. Richard Durbin [D-IL], Sen. Barbara Boxer [D-CA], Sen. Russell Feingold [D-WI], Sen. Charles Schumer [D-NY], Sen. Dianne Feinstein [D-CA], Sen. Sheldon Whitehouse [D-RI], Sen. John Reed [D-RI], Sen. Thomas Harkin [D-IA]
I've written more about this on Bankruptcy Law Network. Click here to review that article. There will be more coming on this, alot more.
Continue reading "Helping Families Save Their Homes In Bankruptcy Act" »
This morning I wrote a blog for the Bankruptcy Law Network on the increase in Bankruptcy filings in the United States. Click here to read the blog.
In other news, I have been writing quite a bit abou the Helping Families Save Their Homes In Bankruptcy Act. Click here for a link to my article.
Continue reading "Bankruptcy Filings Increase By 32% In 2008" »
As a Board Certified Consumer Bankruptcy Attorney who also defends mortgage foreclosure cases for consumers, I was asked whether the proposed 2009 Amendments to the Bankruptcy Code, Helping Families Save Their Homes In Bankruptcy Act, will prevent foreclosures or cause more foreclosures and then will it prevent bankruptcy filings or cause more bankruptcy filings?
Continue reading "Will the 2009 Bankruptcy Law, If Passed, Lessen Foreclosures" »
The Commercial Real Estate Market in Southwest Florida will tank in 2009. All the handwriting is on the wall, and the information is now beating us over the heads. Despite what is printed in the News-press, our local newspaper, things are not looking good. Just take a slow ride down U.S. 41and block out all the honking horns and hand gestures as you slowly cruise in the left hand lane (the fast lane for all of youse Northerners) and look at the signs out in front of all the building on U.S. 41.
Foreclosures on residential real estate will not slow down despite what the Federal Government does with a Stimulus package. That is another blog that makes my blood boil. Commercial Real Estate Delinquencies are mounting and the Commercial Real Estate Foreclosure attorneys are getting ready to have their best year ever. They are beefing up their departments.
Continue reading "Commercial Real Estate Will Tank In 2009" »
Carmen Dellutri's recent article titled: Helping Families Save Their Homes In Bankruptcy Act is the featured article on the Bankruptcy Law Network.
Continue reading "Featured Article on Bankruptcy Law Network" »
This morning I wrote a blog for the Debt Law Network discussing whether the United States is going broke. You can read the blog by clicking here.
Continue reading "Is the United States Going Broke?" »
As a consumer bankruptcy attorney in Southwest Florida, I like to see how our bankruptcy economy compares to the rest of the United States. The consumer bankruptcy filing statistics are out for November 2008, and these bankruptcy statistics do not look good. When you look at how many consumer bankruptcy cases were filed in November 2007, the numbers have gone up 39.2% in just a year. The only good news is that the number of consumer cases filed dropped from October 2008 when there were over 106,000 cases filed. So far in 2008, over 980,000 consumer bankruptcy cases were filed. This puts us on a track to file well over 1 million consumer bankruptcy cases this year.
Just three (3) short years ago, Congress sent the President a piece of legislation that was supposed to prevent fraud in the Bankruptcy Courts and reduce the number of individual consumer bankruptcies. Unfortunately, like so many other things that our Government does (Can you say Bailout packages), the legislation was woefully inadequate to the point that it never should have been passed. Now, people who really need bankruptcy relief are dealing with a ridiculous statute that creates a dog and pony show in my opinion. The only way that I can see the United States moving is in a downward spiral. We will see many more consumer bankruptcy cases in the years to come.
Continue reading "November Bankruptcy Filings Up 39%" »
This morning I finished a blog for the Bankruptcy Law Network about rising bankruptcy rates. I wanted to go a bit further on the subject here. There are two different theories that have been floating around since I started that blog a couple of days ago. The first line of thought poses the question this way: if Bernanke and the Fed, Paulson and the Treasury, and Bush and the White House decide to nationalize the banking system, why will people need to file for bankruptcy? The second line of thought is: Bernanke and the Fed, Paulson and the Treasury, and Bush and the White House will not nationalize banks, but the taxpayers will own equity stakes in them, thereby increasing liquidity, and keeping the free markets open, which will cause more people to file for bankruptcy. There will be more to this story after the President speaks in a few minutes.
Continue reading "Will More Bankruptcies Be Coming in 2009?" »
Ladies and Gentlemen:
Changes are coming to the Florida Bankruptcy Lawyer Blog whether you like it or not. It's time to kick the tires and light the fires and slap a new coat of paint on this puppy. We also might throw in some cool features like a new website and a new look for the Florida Injury and Accident Lawyer Blog as well.
So, keep your eyes peeled, and watch out for the new stuff. It may just hit you right between the eyes.
Continue reading "Changes, They Are A Coming" »
Republican Presidential Candidate John McCain's wife Cindy, has at least $200,000.00 in credit card debt with American Express. Somehow she was able to negotiate a zero percent interest rate. The amount owed on her credit cards could be as high as $500,000.00. This information has been disclosed by the McCains only recently.
Continue reading "Senator McCain's Wife has over $200,000 in Credit Card Debt at 0% Interest" »
The month of May has changed the way I think about politics. I used to be upset that nothing was being done to help the people living in Southwest Florida, now I am just ticked off. Foreclosure filings were up 48% over May of last year. This statistic proves several things: First nothing is being done on the Federal level to help the people of Southwest Florida keep their homes. Second, nothing is being done on the State level to help residents keep their homes. Third, where are the results that the mortgage companies promised when they argued not to change the bankruptcy laws. Where is Hope Now, President Bush's coalition of mortgage companies dedicated to helping people save their homes.
Continue reading "May 2008 Sees Foreclosures Surge 48%" »
Bankruptcy Courts are seeing many consumer issues along with the increasing bankruptcy dockets. Therefore, Bankruptcy Judges are naturally becoming more sophisticated on the issues surrounding consumers. Recently I argued a case against a debt collector and one of the issues was the creditors purchasing of discharged debts. Why would a creditor purchase debts which are discharged by a Federal Court Discharge Order? Theoretically, these debts are no longer collectible.
Continue reading "Creditor Claims Trading: What is next?" »
In April I wrote a blog about the airline industry and asked a question: Is the word airline synonymous with bankruptcy? At the time I intended for it to be a bit of a joke because four (4) different airlines had filed bankruptcy. Now, several months later, it could prove to be almost prophetic. Back then, Skybus, ATA, Aloha and Frontier had filed for bankruptcy protection. Delta recently emerged from bankruptcy protection and announced that it was planning a merger with Northwest, and Alitalia was on the brink of bankruptcy. All in all, things weren't looking so good for the airlines.
Continue reading "Airlines Are No Longer Flying High" »
Will bankruptcy filings exceed 1 million this year? A look at the current data and the historical data make the case for bankruptcy filings to exceed 1 million. But wait a minute, I thought Congress changed the bankruptcy laws in October 2005 to curtail consumer filings and prevent abuses in the system. I though Congress had fixed the problem. As usual, Congress fixed a problem that didn't need fixing and created several other bigger problems. Our fearless leaders have created an economic nightmare in this country that needs to be fixed, and they are doing nothing to improve the problems. I'm willing to bet that if their homes were going into foreclosure something would be getting done to stem the wave of foreclosures in this country.
Continue reading "How Many Bankruptcies Will Be Filed In 2008?" »
This is part two of the story:
Recession is not part of the business plan and there are not enough cash reserves to cover the lines of credit and make all of the lease payments, so the business owner thinks about bankruptcy for the business. In reality, there is no reason to file a bankruptcy for the business because the business doesn't own anything. The business has the right to use the leased equipment but it does not own the equipment or the premises. The business has an obligation to pay for the equipment and the premise, but if the business closes down and there is no money left in the bank account, how is that going to happen? Usually, when this happens, and it happens quite often, the creditors will begin to look for the individual who personally guaranteed the loan.
Continue reading "What Is A Business Bankruptcy? Part II" »
As a Board Certified Consumer Bankruptcy Attorney, I see people on a daily basis who are facing financial problems. Bankruptcy has taken on a whole new life recently as were are in the midst of a serious recession that is only getting worse. Bankruptcy is now on the minds of people who never thought they would find themselves in financial difficulty. More and more small business owners are finding it hard to make ends meet. Many of these small businesses relied on one industry or another that has dried up in Southwest Florida. These business owners believe that the solution to their financial problems is to bankrupt the business and put it behind them. However, many do not know that filing bankruptcy for a small business may not be a very good idea at all.
Continue reading "What Is A Business Bankruptcy? Part I" »
It seems that you cannot go anywhere today without hearing someone speaking about what is going on with the foreclosures in Southwest Florida. It's in the newspapers and on the minds of many people living in Southwest Florida. Most people in Southwest Florida will fall into one of three categories: First, there are the rich that will never have to worry about the foreclosure crisis, so we will leave them out of this. We will talk about them later when the stock market takes a dive, and then we can say, we told you so, but you were too busy attending wine auctions that you missed all of the economic indicators predicting a recession. Second, you have the middle class, which is our largest group. Many of these individuals are homeowners with mortgages on their primary residences, and they are feeling the pinch of the recession as their home values plummet. These are the people who have either lost their homes already, live in fear of losing their homes, or are renting somewhere else in an attempt to save their homes.
Continue reading "Foreclosures In Southwest Florida: It's A Community Problem" »
Bankruptcy Filing Across the Nation achieved a milestone since the inception of BAPCPA (Bankruptcy Abuse Prevention and Consumer Protection Act) in October 2005. March filings were in excess of 90,000, and based upon a 21 working days in March, bankruptcy filings reached 4,300 per day.
Continue reading "Bankruptcy Filings Exceed 4000 A Day In March" »
United States Bankruptcy Judge John C. Ninfo is taking financial literacy to the next level. As bankruptcy filings rise, Judge Ninfo is teaching students of all ages to live within their means. Although, the Judge has some very strong views about the people that he is seeing in his courtroom, his message is crystal clear to the students.
At the Dellutri Law Group, we encourage the members of our firm to go out into the public, especially schools and trade organizations, to speak with people about what we do and how we do it. In the bankruptcy/consumer world, people always have so many questions. This is also true when we go into classrooms and speak about personal injury cases. The questions are always entertaining and enlightening.
Continue reading "New York Bankruptcy Judge Is Taking Financial Literacy To The Students" »
This post was written by Carmen Dellutri, Esq. of The Dellutri Law Group, P.A. Carmen Dellutri is a Board Certified Consumer Bankruptcy Attorney and is one of the founding members of the Bankruptcy Law Network.
According to the American Bankruptcy Institute, bankruptcy filings rose again in February 2008. Consumers filed approximately 76,120 petitions for bankruptcy relief. This total was up from the 66,050 filed in January. Interestingly, Chapter 13 bankruptcies were over 36% of the filings.
Continue reading "Bankruptcy Filings Up Again" »
This post is published by Carmen Dellutri, Esq. of The Dellutri Law Group, P.A. and a founding member of the Bankruptcy Law Network, Debt Law Network, Credit Law Network and Mortgage Law Network.
Unfortunately, Divorce and Bankruptcy go hand in hand in today's society. The problems that are associated with divorce and credit cards are all too familiar to bankruptcy attorneys. Usually, the problems don't arise until one of the parties stops paying on the debts that they agreed to pay in the divorce. Then the collection calls start, and the person who shouldn't be responsible for the debt contacts my office.
Continue reading "Divorce, Joint Credit Cards And Bankruptcy" »
I just attended a hearing in small claims court for two of my clients. I haven't been in small claims court for a couple of months. However, it appears that the number of small claims court filings are growing exponentially. I spoke with the attorney who is repesenting the creditors as local counsel, and he told me that he is working 7 days a week trying to keep up with the number of lawsuits coming into his office. He said that he has never seen anything like this. He predicted that the volume of lawsuits would continue through 2009. He based this upon the volumes of debt being purchased at substantial discounts. All of this debt will need to be collected in some way, shape or form.
Continue reading "Small Claims Court Are Being Overwhelmed By Collection Lawsuits" »
This post is written by Carmen Dellutri, Esq. of the Dellutri Law Group, P.A. Carmen Dellutri is a Board Certified Consumer Bankruptcy Attorney with offices in Port Charlotte, Fort Myers and Naples, Florida.
In the month of February2008, consumers across the nation filed over 76,000 bankruptcies. This is a staggering number, and the United States has not seen a number like this since before the BAPCPA. As you will recall, BAPCPA is the name of the new bankruptcy law which is now over 2 years old. The interesting part of this story is that the number of bankruptcy filings was up over 15% from January. That means over 10,000 more cases were filed in February. This may be a sign of things to come in the future.
Continue reading "Consumer Bankruptcy Filings Rise in February" »
This post is authored by Carmen Dellutri, Esq., Board Certified Consumer Bankruptcy Specialist and a founding member of The Dellutri Law Group, P.A. (www.DellutriLawGroup.com) and a founding member of the Bankruptcy Law Network (www.bankruptcylawnetwork.com)
The United States Attorney has struck again. This time in Cherry Hill, New Jersey. United States District Judge Noel L. Hillman sentenced a car dealer to 4 years in Federal Prison for Bankruptcy Fraud and attempting to hide money from the Tax authorities.
Continue reading "Bankruptcy Crimes: What Does The Future Hold" »
This post is published by Carmen Dellutri, Esq. Board Certified Consumer Bankruptcy Attorney.
You may recall that bankruptcy filings surged in 2005 prior to the bankruptcy laws being changed. As expected, 2006 was a relatively slow year in the bankruptcy world when it came to new filings; however, each and every bankruptcy attorney truly committed to his or her practice knew what was going to happen in the future.
