Solomita Law Blog

Impact of New Administration on Bankruptcy Outcomes

In recent months, bankruptcy attorneys and people considering bankruptcy have wondered how the new presidential administration might influence bankruptcy laws and the outcomes of personal bankruptcy petitions. We did, too. To gain perspective, we took a look at America First: A Budget Blueprint to Make America Great Again—produced by President Donald J. Trump’s Office of

Read More

Budgeting Offers Control over Debt

Bankruptcy provides relief to people weighed down by massive debt, however it is not a free pass. During a bankruptcy, debtors may be required to liquidate their assets to repay creditors. Also, they can expect to lose access to existing commercial credit because credit card companies typically close accounts when notified that a bankruptcy is

Read More

Bankruptcies of the Rich and Famous

Even before the advent of the credit card industry, pioneers, patriots and presidents alike found themselves in tough financial straits. According to Roland Gary Jones, Esq., author of Bankruptcies and Money Disasters of the Rich and Famous, Abraham Lincoln went bust running a grocery store before falling back on politics. Even as he ran for

Read More

Interview on Talk Network Radio

I joined Bold Talk Business Radio talk show host Donna Anselmo for a live stream on  TalkNetworkRadio.com Tuesday, February 15. We discussed issues on the minds of people dealing with debt, especially questions relating to bankruptcy.  The interview will stream again today and Friday in the 1 PM EST time slot on TalkNetworkRadio.com, or you

Read More

Protecting Assets Under Bankruptcy

When filing for bankruptcy on behalf of a client, an attorney must consider how to best protect the client’s assets. During bankruptcy proceedings, the court reviews the petitioner’s assets to determine the debtor’s ability to repay creditors. The court then may require sale of the debtor’s property to reimburse creditors and/or cover court costs. The

Read More

Options for Protecting Your Home in Foreclosure

PHOTO COURTESY: DREAMSTIME FREE REAL ESTATE 6 ©Jcpjr WORRY AMONG PEOPLE STRUGGLING TO SAVE THEIR HOMES OFTEN COMES FROM not knowing what to expect or if there is any way to stop a foreclosure. Take for instance the case of “Mr. Smith.” Mr. Smith is a fictitious name. The Situation of Mr. Smith After losing

Read More

High Profile Judgment against Gawker Media Group Illuminates the Bankruptcy Process

When The Wall Street Journal (WSJ) reported that Univision Communications, Inc. won a court-administered auction of assets belonging to Gawker Media Group (08.16.16), I thought this case perfectly illustrated how the Chapter 11 bankruptcy process works. For example … A Single or Series of Disastrous Financial Incidents Disrupts a Company In this case, a court

Read More

Knowledge is Power: Get the Facts about Landlord-Tenant Agreements

As an attorney, I’ve heard from landlords who don’t know what to do when nightmare tenants fall way behind on rent payments, refuse to vacate, and even purposely destroy rental property. I’ve also heard from frustrated tenants whose landlords don’t respond to calls about leaky pipes, broken air conditioners and other property they are bound

Read More

High Profile Judgment against Gawker Media Group Illuminates the Bankruptcy Process

When The Wall Street Journal (WSJ) reported (08.16.16) that Univision Communications, Inc. won a court-administered auction of assets belonging to Gawker Media Group , I thought this case perfectly illustrated how the Chapter 11 bankruptcy process works. For example … A Single or Series of Disastrous Financial Incidents Disrupts a Company In this case, a

Read More

Florida’s Homestead Exemption Protects Home Against Creditors

In addition to tax savings on a primary residence, Florida’s homestead exemption can offer protection in times of severe financial distress, such as bankruptcy. Florida homeowners typically apply for a homestead exemption on their primary residence to reduce their tax burden. However, this exemption also can protect one’s home from being forcibly sold by a

Read More

Alec Solomita Informs Listeners on BOLD TALK Business Radio

Attorney Alec Solomita, founder of Solomita Law, appeared in a recent interview with Donna Anselmo, host of BOLD TALK Business Radio, which airs on AM 1060 WMEL, Tuesdays between 1:00 and 2:00 PM EST. The show broadcasts to more than 4 million residents in Central Florida. Intrigued by Alex’s commitment to  helping individuals who are

Read More

Solomita Law Offers Free Debt Relief Tele-seminar Thursday, April 7, 7 pm

We know that it’s not always easy to discuss personal financial matters, particularly when they involve debt. Many people struggling with debt believe there is no way out, so they avoid seeking advice until monetary situations become even more dire. Often, they can’t pay off their debts without outside help. To answer frequently asked questions

Read More

How Bankruptcy Affects Foreclosure Proceedings

If your mortgage loan is in arrears, your lender may pursue foreclosure options against you. If the lender is successful in its foreclosure attempt, the lender will be able to retain the property and remove the homeowners who have been foreclosed on. Bankruptcy is a tool that can be used to prevent foreclosure. If your

Read More

Another Day, Another Scam: Beware of Con Artists

If you use email, frequent the Internet, have a telephone, or open your door to solicitors, it’s likely that you will be targeted by con artists at some time in your life. If you are very active on the internet, that likelihood seems to increase daily. Con artists are sharp, believable, and creative, and they

Read More

Welcome to the Solomita Law Blog

Not only have we just launched a new law practice, but I’m pleased to begin sharing thoughts, news, legal opinions and information with you through our new blog platform. If you like, you can share your own concerns with me, too, via the contacts form at our law practice website, www.SolomitaLaw.com. Also, feel free to

Read More

Frequently Asked Questions by Solomita Law Clients — Part ll

In our prior article, Solomita Law answered three frequently asked questions about bankruptcy. This article addresses other common queries. Must I include every one of my debts in a bankruptcy filing or may I elect to pay off certain debts without applying for a discharge? All debts must be included in the bankruptcy petition. Certain

Read More

Frequently Asked Questions by Solomita Law Clients — Part l

Many people under financial duress avoid filing for bankruptcy because they don’t understand how bankruptcy works, don’t know where to turn for information, or fear that they will not be able to live a normal life after bankruptcy. In fact, bankruptcy law provides a means for recovering from excessive debt, and many (possibly even most)

Read More

Understanding Bankruptcy Options

Positioning Yourself for a Fresh Start through Bankruptcy Under Title 11 of the United States Code, bankruptcy laws were established to assist financially distressed individuals and organizations with debt relief. After a bankruptcy has been granted and debts have been discharged, debtors are positioned to gain stronger financial footing, and repay debts, such as mortgage

Read More

Welcome to the Solomita Law Blog

Not only have we just launched a new law practice, but I’m pleased to begin sharing thoughts, news, legal opinions and information with you through our new blog platform. If you like, you can share your own concerns with me, too, via the contacts form at our law practice website, www.SolomitaLaw.com. Also, feel free to

Read More