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Brandon, FL (Law Firm Newswire) April 26, 2013 – Dollar figures found in bankruptcy regulations were recently adjusted for inflation. The United States Bankruptcy Code has many rules that involve specific dollar amounts, such as the value of exempted assets or the limits on eligibility for Chapter 13 bankruptcy. Every three years, on the 1st of April, those numbers are adjusted for inflation according to the Consumer Price Index for All Urban Consumers and rounded to the nearest $25. “It is important that these figures be adjusted periodically for inflation,” commented Brandon bankruptcy attorney O. Reginald Osenton. “The numbers determine […]


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Brandon, FL (Law Firm Newswire) April 19, 2013 – A Miami jury handed a businessman a huge cash award in his dispute with a bank. Maury Rosenberg was awarded $6.1 million in a case against U.S. Bank. Rosenberg alleged the bank was trying to collect on his debt by forcing him into involuntary bankruptcy. The jury found that the bank acted in bad faith. “Forcing a debtor into bankruptcy as a means of trying to collect on a debt is prohibited by federal law,” said Brandon bankruptcy lawyer O. Reginald Osenton. The verdict includes punitive damages of $5 million and […]


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Brandon, FL (Law Firm Newswire) April 2, 2013 – The number of working poor in America continues to grow. That is the conclusion of a recent report from the Working Poor Project. The working poor are families struggling with poverty, despite having working parents. Much of the recent decline in unemployment comes from relatively low-paying jobs in the service and retail industries. Tampa bankruptcy attorney O. Reginald Osenton commented, “It is sad to see that despite the employment situation improving somewhat, the problem of poverty continues to grow. Huge numbers of American families are struggling to stay afloat.” According to […]


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Brandon, FL (Law Firm Newswire) March 28, 2013 – The owner of a company in bankruptcy proceedings was recently jailed for three days for contempt of court. Marvin Chaney, 61, founder of RoboVault, was taken into custody by U.S. Marshals on January 29 on the orders of U.S. Bankruptcy Judge John K. Olson for violation of court orders. Brandon bankruptcy attorney O. Reginald Osenton commented, “This goes to show you how important it is to follow carefully a judge’s instructions, no matter what type of case you are involved in.” Olson issued the arrest order after Chaney and his attorney, […]


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Brandon, FL (Law Firm Newswire) March 20, 2013 – An estate in bankruptcy means any tax refund will likely become the property of the bankruptcy trustee. Many Floridians are looking forward to receiving an income tax refund from the federal government in the coming weeks and months. Some will use it to catch up on their bills, and others will perhaps treat themselves to something special. But anyone considering filing for bankruptcy in Florida should carefully consider what to do with their tax refund. Brandon bankruptcy attorney O. Reginald Osenton warned, “A pending tax refund for a person in bankruptcy […]


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Brandon, FL (Law Firm Newswire) March 13, 2013 – Bankruptcies are down in Florida. Bankruptcy filings in South Florida plunged 19 percent in December 2012, as compared with the same month a year ago, according to recently-released federal data. Following the Great Recession, Americans may be adjusting to a new standard of living and are better able to control their spending. Brandon bankruptcy attorney O. Reginald Osenton commented, “People seem to be getting used to a ‘new normal’ and making lasting adjustments to their spending habits. Living within lowered means is unfortunately the price many must pay to stay out […]


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Brandon, FL (Law Firm Newswire) January 17 , 2013 – No one really looks forward to filing for bankruptcy. Often it was the last choice the debtor had to make. “Most people do not want to declare bankruptcy, and it is the last solution they turn to when all else fails,” said Reginald Osenton, a Brandon bankruptcy attorney. Many Americans these days are all too familiar with bankruptcy, and have either filed for bankruptcy themselves or know others that have. Along with those stories come a number of rumors that are in direct conflict with reality. People used to often […]


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Brandon, FL (Law Firm Newswire) January 10 , 2013 – Every bankruptcy filed in the U.S. today is different. “No two bankruptcy cases are alike, even though a debtor may think their friend or relative is in the same boat as they are,” said Reginald Osenton, a Brandon bankruptcy lawyer. “Often, although their situations may appear similar, there are significant differences that would mean each person needs to file under a different Chapter to declare bankruptcy.” If they choose a Chapter 7 bankruptcy, often referred to as a liquidation or straight bankruptcy, a trustee is appointed to sell all non-exempt […]


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Brandon, FL (Law Firm Newswire) December 17 , 2012 – Three private equity firms have agreed to pay $166 million to creditors of Mervyn’s department store. This payment is to settle allegations that the firms fraudulently profited from the company and drove it into bankruptcy four years ago. “When a company faces bankruptcy, there is usually little profit to be found for anyone,” said Tampa bankruptcy attorney O. Reginald Osenton. “Suspicion of these firms’ practices seems warranted, and is validated by this large settlement.” Mervyn’s creditors, mainly clothing companies, accused Cerberus Capital Management, Lubert-Adler, and Sun Capital of paying themselves […]


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Brandon, FL (Law Firm Newswire) December 11 , 2012 – American Airlines, one of the largest U.S. carriers, filed for bankruptcy protection last November. Employees have been waiting anxiously since then to find out whether they would be out of a job, and how soon. Florida-based employees recently received some news on that front, and it is not very encouraging. “When big employers like this go bankrupt, it can be devastating to large numbers of people and even whole communities,” said Tampa bankruptcy lawyer O. Reginald Osenton. The worst-case scenario for the airline’s 9,000 South Florida employees is gloomy. The […]


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Brandon, FL (Law Firm Newswire) November 12, 2012 – Divorce courts these days are seeing a lot fewer lawyers—and a lot more spouses choosing to represent themselves, a practice known as pro se. However, family attorneys warn that saving money on legal representation might cost people their rightful assets. “I am concerned that anyone getting divorced without legal representation may not be getting a fair deal when it comes to their financial concerns,” said O. Reginald Osenton, a Tampa bankruptcy lawyer. “In many cases, they may not fully understand their rights and remedies.” Bad economic conditions prevailing across much of […]


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Brandon, FL (Law Firm Newswire) November 5, 2012 – Debtors’ prisons have been generally outlawed in the United States since the mid-19th century. Recent reports show that legal distinction becoming blurred. The Constitution of the State of Florida, Section 11, states that “no person shall be imprisoned for debt, except in cases of fraud.” “Debt is a serious legal matter, but rightfully a civil matter, not a criminal one,” commented O. Reginald Osenton, a Brandon bankruptcy attorney. When a creditor takes a debtor to court in Florida, the creditor will likely ask the court to order the debtor to submit […]


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Brandon, FL (Law Firm Newswire) November 1, 2012 – It may sound like an exercise in despair to publicly declare one’s financial situation hopeless, but that is just what some people are doing in an attempt to rid themselves of stifling student loans. “Bankruptcy protection affords many people a measure of relief,” said O. Reginald Osenton, a Brandon bankruptcy attorney. “Student loan debt is usually not forgiven, but for truly desperate situations, there are strategies to consider.” Filing for bankruptcy protection can go a long way toward allowing a fresh start for those who find themselves in dire financial straits, […]


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Brandon, FL (Law Firm Newswire) October 18, 2012 – Fort Lauderdale Boat Club Ltd., recently filed for Chapter 11; the Boat Club had in excess of a reported $13 million in assets, with an estimated $10 million in liabilities. Investors purchased the site for $16 million in 2006. Losses of some $3 million in just a few years, much of which likely occurred in or about 2008 when the national economy began to collapse, appear to have been too difficult to overcome. Fort Lauderdale is home to numerous coastal areas, including many docks and residential slips for personal watercraft. Plans […]


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Brandon, FL (Law Firm Newswire) August 15, 2012 – The newly-created United States Consumer Financial Protection Bureau (CFPB) recommended to Congress that people be allowed to erase some of their student loan debt if they file for bankruptcy. However, even if the change is made, it may not bring the needed relief debtors want. “Filing for bankruptcy is a viable option for many people with unmanageable debt,” said O. Reginald Osenton, a Brandon bankruptcy attorney. “However, it is important for people to understand that not all student loan debt will be discharged.” The CFPB, created to protect consumers from unfair […]


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Brandon, FL (Law Firm Newswire) August 8, 2012 – Many people today find themselves in debt. Some are surprised when a company they never heard of buys their debt and then pursues an aggressive collection strategy, which may include harassing phone calls or filing a lawsuit against the debtor. Debt buying is legal, but some collection practices are not. “If you are being harassed by phone calls from debt collectors, you should know that the Fair Debt Collection Practices Act (FDCPA) protects you,” said Brandon bankruptcy attorney O. Reginald Osenton. “Fending off debt collectors is often one of the first […]


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Brandon, FL (Law Firm Newswire) February 29, 2012 – The Florida Supreme Court recently abandoned its efforts at a statewide mediation program for residential foreclosure cases. Lack of participation and low rates of loan modification meant the program was seen as unsuccessful. “It is not a shock that the courts decided to do away with this program,” said Tampa bankruptcy attorney Reginald Osenton. “There are a lot of people who would rather walk away from their house than sit across the table from a banker.” The program’s goal was to address the large number of foreclosures stacking up in the […]


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Brandon, FL (Law Firm Newswire) January 25, 2012 – If the housing market is not going to recover until the foreclosure backlog is absorbed, then it might be good news that lenders sent out notices to foreclose on almost 11,000 Florida homes in October – an 11-month high. The Miami area had the most with 4,193 and Tampa Bay and Orlando-Kissimmee each had more than 1,000, according to a RealtyTrac report. The Tampa Bay Times reported that bankruptcy filings were down most of 2011 and the Tampa Bay area’s filings were down 59 percent from a peak in October or […]


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Brandon, FL (Law Firm Newswire) December 30, 2011 – PolitiFact Florida recently confirmed that almost half of homeowners in the Sunshine State owe more on their mortgage than their houses are worth. The number – 46 percent – came from an October speech at the Democratic Party’s 2011 convention in Orlando. PolitiFact checked out the outlandish-sounding claim and found that, indeed 45.1 percent of Florida homeowners are “underwater” or owe more than they could sell their home for in today’s market. PolitiFact did its research through CoreLogic Inc. and Zillow.com. Those two companies get their real estate data from county […]


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Brandon, FL (Law Firm Newswire) November 30, 2011 – Struggling Central Florida homeowners have a new option to remain in their homes thanks to a program that has been successfully tested in Orlando federal court. By filing for Chapter 13 bankruptcy and participating in the new mediation program available in Orlando, some homeowners have been able to restructure their mortgages, lower interest rates or even reduce loans on homes that were overvalued, according to a story in the St. Petersburg Times. “Sometimes we have to make tough decisions and filing for Chapter 13 bankruptcy is not an easy one, but […]


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