Timothy Kingcade Posts Archives - Page 49 of 155 - Kingcade Garcia McMaken, P.A. Bankruptcy Attorneys

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

How to Buy Your Kids Gifts that Keep on Giving

Posted on December 23, 2016by Admin

According to Personal Capital, Americans plan to spend an average of $936 shopping for friends and family this holiday season. However, parents can ensure their children’s gifts are long-lasting by gifting in these four unique ways this holiday season.

The Gift of Experience: One of the best investments you can make for your children is giving them the gift of experience. A recent study conducted at San Francisco State University analyzed information from 154 students at the university who recently purchased items and experiences. The study found that the happiness from purchasing an item faded over time, but the happiness and memories from an experience lasted longer and contributed to more happiness.
The Gift of Health: Whether you buy a bike, skateboard, kayak, snow board, running shoes or anything else that can keep your child active, you are making a good investment. According to the CDC, there are over 12 million children who are obese in America. One of the best things you can do for your child is encourage them to exercise.
The Gift of Responsibility: Teaching your child to be responsible can be a challenge. If your child has been asking for a pet, this is a good way to teach them responsibility. If your child is interested in cooking, you can gift some kitchen gadgets so that they can start helping out in the kitchen.
The Gift of Compound Interest: It is never too early to start thinking about your child’s future. Investing on your child’s behalf is a great way to do so. Look into different ways you can invest on your child’s behalf. This is a great way to give a gift that is long lasting and will help them down the road when they are going to college or buying a house.

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If you are in financial crisis and considering filing for bankruptcy, 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.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Miami-based Catholic School Ordered to Release Student Transcripts

Posted on December 22, 2016by Admin

Emergency Motion Granted for Kingcade & Garcia Clients after School Violates the Bankruptcy Automatic Stay

On December 21, 2016, Miami bankruptcy attorney Timothy S. Kingcade of Kingcade & Garcia, P.A. (www.miamibankruptcy.com) obtained an Order from the Bankruptcy Court compelling Belen Jesuit Preparatory School, a Miami-based Catholic school, to release educational transcripts in compliance with the automatic stay and to pay his clients’ legal fees. Mr. Kingcade filed an emergency motion arguing the school willfully and intentionally violated the automatic stay by refusing to release the transcripts.

“Bankruptcy has its origins in the Old Testament and while the school may ignore the edicts of its own teachings, it may not ignore the bankruptcy law inspired by those philosophies,” said Kingcade. “The school evidenced no intention to abide by the automatic stay and as a result, my clients have been forced to seek relief from the court,” he continued.

Mr. Kingcade’s clients filed for Chapter 7 bankruptcy relief on December 12, 2016. On December 13, 2016, a notice of the filing and a request for the release of transcripts for their two children was sent to Belen Jesuit Preparatory School. The school had actual knowledge of their bankruptcy filing and refused to release the requested transcripts. The older of his clients’ children is in the process of applying for college and the withholding of the transcripts could result in his college application being deemed incomplete for consideration.

The school hired counsel and sought to mitigate the exposure for the school’s violation of the federal bankruptcy laws. Mr. Kingcade ultimately persuaded the school to release the transcript. The parties agreed to an order granting the emergency motion. The order requires Belen Jesuit Preparatory School to immediately release transcripts and / or final grade reports for the two children and for it to continue to cooperate with his clients and release future transcripts upon request. The school is also required to pay Mr. Kingcade’s legal fees.

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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.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Take These Steps to Prepare for Tax Filing Season

Posted on December 21, 2016by Admin

With tax season right around the corner, the IRS recommends taxpayers take the following steps to prepare.

Individual Tax Identification Number: Filers who have expired Individual Tax Identification Numbers (ITIN) are likely to experience processing delays. If your ITIN expires on December 31^st, 2016, you can renew your ITIN at any time by submitting the accurate documentation such as a W-7 and valid ID. The requirements needed to renew your ITIN are listed at www.IRS.gov/ITIN.

Refunds: According to a new tax law, the IRS cannot issue refunds before February 15^th. Taxpayers should be advised not to count on receiving their refunds any earlier. However, you can file your tax return before February 15^th. You can also check the progress of your return by visiting the Where’s My Refund page.

Adjusted Gross Income: If you are preparing your own taxes this year and plan to file electronically, you will need to know your Adjusted Gross Income (AGI) from the previous year or your prior-year Self-Select PIN. You can no longer use an electronic filing PIN when filing electronically. You can find your AGI from your 2015 federal income tax return on line 37 of the form 1040; line 21 of the form 1040-A; or line 4 of the form 1040-EZ.

Protection: The IRS has upgraded its identity verification process in order to protect taxpayers from impersonations and account takeovers. As a result, it is better if you prepare to register early on the Secure Access page in advance.

Click here to read more on the steps to prepare for tax filing season.

Credit, Debt Relief, Foreclosures, Timothy Kingcade Posts

Why You Shouldn’t Panic about Rising Mortgage Rates

Posted on December 20, 2016by Admin

Although mortgage rates have been on a steady rise in recent months, buyers should not panic because rates are still historically low. According to Freddie Mac, the average rate for a 30-year fixed-rate mortgage rose to 4.16 percent, up from 4.13 percent last week. This is up from 3.97 percent last year. This means buyers will pay approximately $21 more per month compared to a year ago on a $241,000 mortgage with a 20 percent down payment.

According to economists, the rise in interest rates should not deter potential buyers. In 1996, the average rate was 5.67 percent and in 1990 it was 10.13 percent. However, for the past ten years rates have been under five percent.

Mortgage rates are forecasted to gradually increase throughout 2017. As a result, home prices are also expected to rise.

“The era of ultra-low interest rates is over,” said Lawrence Yun, chief economist of the National Association of Realtors. “The short-term rate hike will be followed by several additional rounds of increases in 2017 and 2018. Despite these moves, mortgage rates will not rise alarmingly.”

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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Darius Miles’ Bankruptcy is a Cautionary Tale for Young Athletes

Posted on December 19, 2016by Admin

After filing for bankruptcy earlier in the year, former NBA superstar Darius Miles’ belongings were auctioned off last week in Belleville, IL. Miles reportedly made $62 million throughout his career that ended following a knee injury and two arrests between 2009 and 2011. Items that were auctioned off included: an autographed Lebron James jersey, an autographed Michael Vick jersey, a four-wheeler, a dining room set, four firearms, 10,000-plus DVDs and karaoke equipment.

According to the Belleville News-Democrat, Miles’ bankruptcy was the result of unpaid child support, tax debt, a failed real estate deal and overspending. Profits from the auction held at the Belle-Clair Fairgrounds will go to his creditors.

Miles was a first-round draft pick with the Los Angeles Clippers in the 2000 NBA draft and signed a contract worth $9 million. Miles played in Los Angeles, Cleveland, Portland and Memphis. He also starred in a movie with Scarlett Johansson and Ryan Reynolds and landed an endorsement with Michael Jordan’s athletic brand.

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, 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.

Related Resources:

http://www.bnd.com/news/local/article102254247.html

http://www.stltoday.com/sports/columns/ben-frederickson/benfred-miles-bankruptcy-is-a-cautionary-tale-for-young-athletes/article_b29ff674-5e2a-502c-b6ae-84bc1276bde7.html

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

How to Keep Debt Collectors from Ruining Your Holiday

Posted on December 16, 2016by Admin

It is important for consumers to know that if you do not want to deal with a delinquent account over the holidays, you don’t have to. You can request the collection agency stop calling you. Under The Fair Debt Collections Practices Act (FDCPA) a debt collector must cease contact with you if you send a written request to do so.

However, it is important to note that this request does not eliminate your debt. The outstanding bill can still end up on your credit report and the collector can elect to seek a judgment against you to recoup the debt, which could result in wage garnishment and further damage to your credit report.

That is why it is important to try and negotiate a payment plan with the debt collector. Doing so can prevent them from taking further action against you. Make sure and have the collector put your agreement in writing and mail it to you. Another tip: if you have an unpaid bill that has not yet gone to collections, you may want to reach out personally to the creditor. They may be willing to waive fees, lower the interest rate or settle the debt for less than you owe. Many creditors wait up to 90 days before turning a debt over to collections.

Finally, if you truly do not owe the debt or you think a debt collector has crossed the line, you can consult a consumer attorney about whether you have a FDCPA claim and what your next steps should be. Remember, when it comes to debt collectors, it helps to know your rights. If you believe a debt collector is violating the law by calling you outside the allowed times or by calling more frequently than they should, after you have asked them to stop calling or have sent a cease and desist letter, you can report them to the Consumer Financial Protection Bureau and your state Attorney General.

At the law firm of Kingcade & Garcia we want you to have a safe and Happy Holiday this year! 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, 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.

Related Resources:

http://blog.credit.com/2016/12/can-a-debt-collector-call-me-during-the-holidays-163536/

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Broward County Man Sues Debt Collector for Unauthorized Contact with Third Party

Posted on December 15, 2016by Admin

A Broward County resident is suing NPAS Solutions, LLC for unauthorized contact with a third party regarding his debt. The complaint was filed last month in the U.S. District Court for the Southern District of Florida against NPAS Solutions, LLC alleging that the debt collector contacted a third party regarding the plaintiff’s debt, which is a violation of the Fair Debt Collection Practices Act (FDCPA).

According to the complaint, the plaintiff alleges that he suffered damages. The plaintiff holds NPAS Solutions, LLC responsible because the defendant allegedly contacted and left several voice mail messages regarding plaintiff’s debt at the residence of his mother.

He seeks a trial by jury, payment of all legal fees and any other relief the court determines to be fair.

Click here to read more on this story.

If you 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, 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.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Can a Debt Collector Contact You During the Holidays?

Posted on December 14, 2016by Admin

Getting a call from a debt collector can be a frustrating and stressful experience, and the last thing you want to deal with during what is supposed to be the “Most Wonderful Time of the Year.” Even though it is legal for debt collectors to try and recoup a debt you owe, there are restrictions.

For example, debt collectors cannot contact you at times they know are inconvenient (i.e. – before 8 a.m. or after 9 p.m.) They cannot contact you at your job if you ask them to stop, they cannot repeatedly contact you throughout the day, they cannot threaten you or lie to you about the debt, and they cannot discuss your debt with any third party.

All of these are in violation of The Fair Debt Collections Practices Act (FDCPA).

But what about during holidays? Although the FDCPA does not specifically state which days of the week debt collectors can and cannot call you and does not designate a holiday exemption, it does state that collectors cannot communicate with you during times which are known to be inconvenient.

So you could essentially argue that a call on Christmas Eve is, in fact, a violation of the FDCPA. This would likely fall under, “calling at times known to be inconvenient.”

If you believe a debt collector is violating the law by calling you outside the allowed times or by calling more frequently than they should, after you have asked them to stop calling or have sent a cease and desist letter, you can report them to the Consumer Financial Protection Bureau and your state Attorney General.

Related Resources:

http://blog.credit.com/2016/12/can-a-debt-collector-call-me-during-the-holidays-163536/

https://www.thebalance.com/when-can-debt-collectors-call-960573

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Creditor Protections for IRA’s & Beneficiaries

Posted on December 13, 2016by Admin

Whether you have a Traditional or Roth Individual Retirement Account (IRA), the tax benefits allow your savings to grow and compound more quickly than in a taxable account. Another benefit is creditor protection in the event of a bankruptcy. But what about when you pass away, are your beneficiaries protected?

The Supreme Court has helped clear up this issue in recent years. Just like protection offered to pensions, 401(k)s and Social Security, IRAs are protected from creditors in bankruptcy proceedings. This means that if you declare bankruptcy, your IRA assets are usually safeguarded and cannot be seized.

Another benefit to IRAs is the simplicity in selecting a beneficiary (or beneficiaries) who will receive the money once you pass. However, beneficiaries are not always afforded the same creditor protection as the original account owner, and this is something to consider when determining who your IRA beneficiary should be.

The U.S. Supreme Court has ruled that an inherited IRA for a non-spouse beneficiary no longer is protected from creditor’s claims when the beneficiary files for bankruptcy. The rationale is that once the owner dies and the non-spouse beneficiary takes ownership of the account, the assets are no longer considered retirement funds, and can thus be seized in bankruptcy.

The reason this only applies to non-spouse beneficiaries is because a spouse is able to roll over inherited IRA assets into their own account. When this type of transfer occurs, the assets are once again protected. However, a non-spouse cannot combine inherited IRA assets with their own retirement assets.

Many parents list their children as beneficiaries of their IRA accounts, but this can present a problem if the children have financial issues or file for bankruptcy. One of the best ways to get around this is to establish a trust, such as a conduit trust, and list the trust as beneficiary of the IRA instead of the child. As the assets are not legally owned by the beneficiary, but instead owned by the trust, the assets are protected from creditors in many cases. However, keep in mind once the income is paid out to the beneficiary (i.e. – leaves the trust), that income is no longer protected.

Bankruptcy Law, Credit, Debt Relief, Timothy Kingcade Posts

Wells Fargo, Ocwen and other Creditors Sued for Violating Chapter 7 Discharge

Posted on December 12, 2016by Admin

Secured creditors Wells Fargo, Ocwen, RAS Boriskin and Duane Morris must pay a debtor who filed Chapter 7 bankruptcy $7,000 in emotional distress damages and $39,142 in punitive damages for willfully violating the discharge order.

Judge Cecelia G. Morris of the U.S. Bankruptcy Court for the Southern District of New York concluded that the creditors harassed the debtors for years by filing an illegal foreclosure action against the debtors’ property and sending numerous collection letters after their debt had been discharged in bankruptcy.

The debtors received more than 100 calls and notices for collection of the discharged debt in the past five years. This case is particularly noteworthy for the large amount of punitive damages and the emotional distress damages the debtors received, who represented themselves pro se.

The debtors in the case filed for Chapter 7 bankruptcy and their nonexempt assets were liquidated by a trustee and the proceeds were distributed to their creditors. They received a discharge of all of their debts in 2009.

The debtors alerted the secured creditors to their violations by contacting them after the discharge, but the creditors insisted they were doing nothing wrong. Instead of taking steps to correct the problems, the creditors and their attorneys wrote threatening letters to the debtors. The court found evidence that the creditors and their attorneys received notice of the debtors’ bankruptcy and discharge on at least 15 different occasions, but failed to stop contacting them.

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