Posts Tagged: ‘Timothy S. Kingcade’

What Bankruptcy Can and Cannot Do

January 4, 2018 Posted by kingcade

Bankruptcy can be used as a powerful financial tool to eliminate debt and allow you to push the restart button on your finances  However, filing for bankruptcy does not eliminate all debts and before you file it’s important to know which debts will be discharged and which ones will remain.

Here are some things filing for bankruptcy can do:

Eliminate credit card debt and other types of unsecured debt. Your credit card debt is considered unsecured debt, which means the creditor does not have a lien on any of your property and cannot repossess any items if you fail to pay the debt. This is the exact type of debt bankruptcy is designed to eliminate. Other types of unsecured debt include: utility bills, medical bills, personal loans, payday loans, etc.  Most debts are unsecured.  Primary exceptions are home and auto loans, which are almost always secured.

Stop creditor harassment and collection attempts. The Fair Debt Collections Practices Act (FDCPA) limits the tactics that debt collectors can take to collect on a debt.  When you file for bankruptcy, the automatic stay immediately goes into effect and stops creditors from having any sort of contact with you.  They must now communicate only with your attorney.

Here are some things bankruptcy cannot do:

Eliminate child support and alimony payments. Child support and alimony payments cannot be discharged in bankruptcy. You will continue to owe these debts in full.

Eliminate other non-dischargeable debts.  These include debts for personal injury or death caused by intoxicated driving, fines and penalties imposed for violating the law, etc.

Eliminate student loan debt, except in very rare circumstances. Student loans can be discharged in bankruptcy only if you can show that repaying the loan would cause you “undue hardship,” an extremely difficult standard to meet. You must not only be able to show you cannot afford to pay your loans right now, but that you have very little likelihood of ever being able to repay your loans in the future.

Prevent a secured creditor from repossessing property. A bankruptcy discharge eliminates debts, but it does not eliminate liens.  So for secured debts, where the creditor has a lien on your property (and can repossess it if you do not pay the debt), bankruptcy can eliminate the debt, but it cannot prevent the creditor from repossessing the property.

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If you have any questions on this topic or are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade Garcia McMaken has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.

Motion Denied After Creditor Attempts to Reopen Miami Bankruptcy Case and Seize Home

September 26, 2017 Posted by kingcade

Managing Shareholder, Timothy S. Kingcade and associate Kristina Gonzalez of the Miami-based bankruptcy and foreclosure defense law firm of Kingcade Garcia McMaken, P.A. achieved a recent victory for their clients after a creditor, Bank of New York Mellon (“BONY”), attempted to re-open their 2009 bankruptcy case and compel the surrender of their Miami home.

“With this ruling, I am pleased to announce that my clients will be able to keep their home.  BONY made the decision to abandon its foreclosure efforts and enter into modification negotiations with my clients. It was seven years after my clients received their bankruptcy discharge, five years after the initial foreclosure was dismissed and only after those modification efforts proved unsuccessful that they filed the second foreclosure, based on new post-bankruptcy discharge defaults,” Timothy S. Kingcade said.

BONY waited more than a year after the second foreclosure was filed to seek to reopen the bankruptcy case, and only filed the motion when the bankruptcy debtor filed an action in District Court against the creditor’s loan servicer, Specialized Loan Servicing, for violations of the Real Estate Settlement Procedures Act and the Fair Debt Collection Practices Act.

In a consumer win for bankruptcy clients, the Honorable Laurel M. Isicoff ruled that there was “no purpose” in re-opening the bankruptcy case because the debtors’ decision to surrender the property was not binding in the subsequent foreclosure action.

Attorney Timothy S. Kingcade practices exclusively in the field of bankruptcy law, handling Chapter 7 and 13 filings and foreclosure defense cases for the Southern District of Florida.  As an experienced CPA and proven bankruptcy attorney, Timothy Kingcade knows how to help clients take full advantage of their rights under the bankruptcy laws to restart, rebuild and recover.

Miami-based Kingcade Garcia McMaken, P.A. was established by managing partner and bankruptcy attorney, Timothy S. Kingcade in 1996. The firm represents clients throughout the State of Florida in Chapter 7 bankruptcy and foreclosure defense cases. The firm is committed to providing personalized service to each and every client, clearly explaining the options according to the unique circumstances of his or her life. The office environment and the service provided are centered on a culture of superior client care for the financially disenfranchised. All partners and associates at Kingcade Garcia McMaken P.A. specialize in consumer bankruptcy and foreclosure and have dedicated their practices to this area of the law. Additionally, all attorneys and staff members at the firm are bilingual speaking Spanish.

Related Resources:

http://www.flsb.uscourts.gov/Opinions/LMI/09-30656Kurzban.pdf

Miami Bankruptcy Attorney Timothy S. Kingcade Recognized as a Top Lawyer in Florida Trend’s Legal Elite 2017

June 27, 2017 Posted by kingcade

Managing Shareholder, Timothy S. Kingcade of the Miami-based bankruptcy and foreclosure defense law firm of Kingcade & Garcia, P.A. was recently recognized in the 2017 edition of Florida Trend’s Legal Elite™.  The list of 1,080 honorees, published in the July issue of Florida Trend magazine, includes attorneys in private practice as well as top government and non-profit attorneys. The Legal Elite listing is widely regarded as one of the preeminent referral guides to the legal profession.

To compile the list, Florida Trend invited all actively practicing Florida lawyers to name attorneys whom they hold in highest regard – lawyers with whom they have personally worked with and would recommend to others. The winner list represents just over 1% of the active Florida Bar members who practice in Florida.

Florida Bar President Michael J. Higer notes, “The Florida Bar is committed to connecting both our members and the public with the legal resources needed to support their practices, businesses and daily lives. Florida Trend’s Legal Elite helps accomplish this objective by creating an independent and reliable process to identify our state’s top legal talent and rising stars.”

Attorney Kingcade practices exclusively in the field of bankruptcy law, handling Chapter 7 and 13 filings and foreclosure defense cases for the Southern District of Florida.  As an experienced CPA and proven bankruptcy attorney, Timothy Kingcade knows how to help clients take full advantage of their rights under the bankruptcy laws to restart, rebuild and recover.

Miami-based Kingcade & Garcia, P.A. was established by managing partner and bankruptcy attorney, Timothy S. Kingcade in 1996. The firm represents clients throughout the State of Florida in Chapter 7 bankruptcy and foreclosure defense cases. The firm is committed to providing personalized service to each and every client, clearly explaining the options according to the unique circumstances of his or her life. The office environment and the service provided are centered on a culture of superior client care for the financially disenfranchised. All partners and associates at Kingcade & Garcia, P.A. specialize in consumer bankruptcy and foreclosure and have dedicated their practices to this area of the law. Additionally, all attorneys and staff members at the firm are bilingual speaking Spanish.

Miami Bankruptcy Attorney Timothy S. Kingcade Selected for Inclusion in Florida Super Lawyers 2016

June 14, 2016 Posted by kingcade

Managing Shareholder, Timothy S. Kingcade of the Miami-based bankruptcy and foreclosure defense law firm of Kingcade & Garcia, P.A. has been recognized in the area of consumer bankruptcy law in Florida Super Lawyers Magazine.  This is the third year in a row Mr. Kingcade has been selected to the Florida Super Lawyers list. The prestigious honor is awarded to only five percent of lawyers in the state.

“It is a true honor to have received this award,” said Timothy S. Kingcade. “It is a testament to the commitment my firm and I make every day to each and every one of our clients.”

Attorney Kingcade practices exclusively in the field of bankruptcy law, handling Chapter 7 filings and foreclosure defense cases for the Southern District of Florida.  As an experienced CPA and proven bankruptcy attorney, Timothy Kingcade knows how to help clients take full advantage of their rights under bankruptcy protection to restart, rebuild and recover.

Super Lawyers is a listing of outstanding lawyers who have attained a high degree of peer recognition and professional achievement, representing the top 5% of Florida lawyers.  The goal of the Super Lawyers selection process is to create a credible, comprehensive and diverse listing of lawyers to be used as a resource to assist lawyers and sophisticated consumers in the search for legal counsel.

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Miami-based Kingcade & Garcia, P.A. was established by managing partner and bankruptcy attorney, Timothy S. Kingcade in 1996. The firm represents clients throughout the State of Florida in Chapter 7 bankruptcy and foreclosure defense cases. The firm is committed to providing personalized service to each and every client, clearly explaining the options according to the unique circumstances of his or her life. The office environment and the service provided are centered on a culture of superior client care for the financially disenfranchised. All partners and associates at Kingcade & Garcia, P.A. specialize in consumer bankruptcy and foreclosure and have dedicated their practices to this area of the law. Additionally, all attorneys and staff members at the firm are bilingual speaking Spanish.

Obama Plans to Forgive $7.7 Billion in Student Loan Debt for the Permanently Disabled

April 14, 2016 Posted by kingcade

The Obama administration plans to forgive $7.7 billion in federal student loan debt for nearly 400,000 permanently disabled Americans.  The law states that anyone with a severe disability is eligible to have their federal student loan debt discharged.

Four years ago, the administration took steps to make the process easier by allowing people who are totally and permanently disabled use their Social Security designation to apply for a discharge, but few took advantage of the opportunity. The Department of Education is now taking it upon itself to identify eligible borrowers and guide them through the process to discharge their student loan debt.

Working with the Social Security Administration, the department has been able to identify 387,000 matches in its first review.  Approximately 179,000 of those people are currently in default on their loans, putting them at risk of losing their tax refunds and having their Social Security benefits garnished.

Those Americans with disabilities have the right to student loan debt relief. This week’s announcement further extends President Obama’s Student Aid Bill of Rights, which directs federal agencies to overhaul the way Americans repay student loan debt.

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For borrowers who are struggling with student loan debt, relief options are available. Many student loan borrowers are unaware that they have rights and repayment options available to them, such as postponement of loan payments, reduction of payments or even a complete discharge of the debt. It is important you contact an experienced Miami bankruptcy attorney who can advise you of all your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com