Florida Bankruptcy Lawyer Blog

The Dellutri Law Group is getting ready to start a New Blog focusing on the Federal Fair Credit Reporting Act. Our Fair Credit Reporting Act Blog can be found at:

www.faircreditreportingactblog.com

Please check it out and tell us what you think? It should be active in 7 to 10 days. The Fair Credit Reporting Act Blog will focus on all aspects of Credit Reporting.

Continue reading "Dellutri Law Group To Start A Fair Credit Reporting Act Blog" »

The Senate will vote either today or tomorrow on a bill that could give Bankruptcy Judges the ability to cramdown home mortgages to the present level owed on the home. Currently, Bankruptcy Judges cannot cramdown first mortgages on debtor's homesteads. In today's market, now is the time and place for this bill to be passed. If you are a reader of this blog or any other blogs that I write for, you know how important this bill, as passed by the House of Representatives, is for the people of Southwest Florida, especially Cape Coral and Lehigh Acres.

So, either today or tomorrow we will know if our elected officials have sold us out to the Banks and Mortgage Companies. My bet is that they will, and for each elected official that sells us out for political gain, I say vote them out. There is no issue that is more important to the people of the United States right now than housing. If you are not sure of where you will be sleeping tonight, how can you be a productive American at work. The issue of housing is core to our economy, and the jokers in Washington are playing politics with the Banks. They are in discussions with banks that we the people own. Why do the banks have any say in this legislation? Aren't we a democracy (Rule by the People)? Sure, as long as you can hire a lobbyist with a politician in his or her back pocket. These are things that baffle my mind. Let's wait and see if they do the right thing.

Continue reading "Senate To Vote On Bankruptcy Judge Cramdown" »

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" »

The Obama Administration is spending money faster than the money can be printed. The Question in my mind is: How Good is the Government's credit? This morning I wrote a blog for the Credit Law Network, and I posed some interesting questions about all of this spending and promises to the banks. Please check out the blog.

Continue reading "How Good Is The Government's Credit? How Does It Impact Florida?" »

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" »

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" »

Recently, Carmen Dellutri's Article: Why Are Mortgage Modifications Still Not Working? was selected to be the feature article on the Mortgage Law Network.

Continue reading "Featured Article on Mortgage Law Network" »

S. 3197 The National Guard and Reservists Debt Relief Act is on the way to the White House for the President's signature which will make it a law. The House of Representatives and the Senate both approved the bill unanimously. Once the President signs this bill, and it becomes law, it will amend the Bankruptcy Code.

Continue reading "National Guard and Reservist Debt Relief Act Passes Congress" »

While we slept last night, some pretty interesting things were going on overseas. All one has to do is go to CNN.com or Foxnews.com and see that overseas markets tanked last night, and in response, the Federal Reserve Chairman, Ben Bernanke, cut the key interest rate down to 1.5% from 2%. The Fed had not cut the rate since June of 2008.

Continue reading "The Federal Reserve Cuts Interest Rate One Half Point" »

I am extremely proud of our leaders who stood against the bailout. You must remember that as a Bankruptcy Attorney I would love to see the bailout bill pass with a reformation of the Bankruptcy Code. As an American citizen, I would love to see the bailout fail because in my opinion it rewards years of corporate greed and does nothing to help the people who would be paying for it.

Continue reading "$700Billion Bailout Fails" »

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" »

Yesterday, Florida Senator, Mel Martinez, addressed the Florida Legislature about several issues including the mortgage crisis. Senator Martinez stated in his newsletter that the problems Floridians face, like the environment and finances, are compounded by the national economy and the housing crisis. He made reference in the newsletter to initiative that are being implemented at the Federal Level to help the economy and the mortgage crisis. That's it. That's all it states in the newsletter. No kidding. What kind of message is that?

Continue reading "Senator Martinez Addresses The Florida Legislature About Foreclosure Problem" »

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" »

Many of you may be wondering why I put a blog with Deep Recession in the title in the good news category. Well actually, to me, it is good news because the depth of the liquidity problem that this country is facing is finally coming to light. If I were to say something similar it wouldn't be news worthy. However, when a Harvard Professor, who was a former Treasury Secretary, mentions the words Deep Recession, it is newsworthy, until the next celebrity takes steroids or becomes pregnant or something else news-worthy.

Continue reading "Harvard Professor Calling For New Bankruptcy Bill And Tax Cuts to Stop Deep Recession" »

Yesterday, the Democrats in the House of Representatives supporting legislation that would reform the bankruptcy laws were glad that a Republican decided to sign onto the legislation. Republican Rep. Steve Chabot from Ohio comes from a state that has been hit hard by the subprime meltdown. (I still do not see anyone from Florida stepping up to the plate on this issue) The Democrats hope that this will open the doors for more Republicans to sign onto the legislation. In a nutshell, the legislation will allow people with recent exotic mortgages in bankruptcy to reformulate their mortgages on their primary residences, something that they are prohibited from doing at this time. Bankruptcy Judges would be allowed to cram down the value of the homes and extend the terms of repayment to a maximum of thirty (30) years. I wrote more about this at: www.bankruptcylawnetwork.com

Continue reading "Bankruptcy In Florida: New Bankruptcy Legislation Is Gaining Momentum" »

As we all know, the Bankruptcy Laws were dramatically changed by Congress in October of 2005. Congress changed the Bankruptcy Laws due to an unfounded belief that debtors were taking advantage of the Bankruptcy Laws and Bankruptcy Attorneys were making it too easy for people to file bankruptcy. As we now know, Congress was wrong. The change in the Bankruptcy Laws did not change the way people spend their money. The change in the Bankruptcy Laws only made it more expensive to file for Bankruptcy. Now both houses of Congress are considering bills which would put more power into the hands of the Bankruptcy Judges. Under this new legislation, Bankruptcy Judges would be allowed to re-write mortgages on primary residences.

Continue reading "Congress May Change The Bankruptcy Laws" »