A 64 year old Houston man, James Maceo Ramey, was recently sentenced to 15 years in federal prison for 25 counts of fraudulent activity. Ramey was charged with bankruptcy fraud after an investigation proved he had filed 15 different bankruptcy cases in less than five years, all in different jurisdictions. Under Chapter 7 and Chapter 13 bankruptcy laws, an individual is prohibited from filing bankruptcy more than one time in an eight-year period, regardless of the jurisdictions.
During the period of Ramey’s bankruptcy scandal, he was conducting an Internet gold scheme as well. Ramey launched a website under a fake business name, “Manhattan Gold, Inc.” The website solicited the selling of numerous gold items, most in the form of coins, all of which, Ramey had no possession of or intent to actually distribute to consumers. During the gold scandal Ramey profited some $400,000, all of which he did not claim in any of the bankruptcy cases he filed.
After five days of deliberation, Ramey was convicted on all 25 counts. Eight of those counts were mail fraud, due to the Internet gold scheme. The other 17 counts were due to false oaths and declarations, concealment of assets, and conspiracy to commit bankruptcy fraud.
To read more on this story visit: http://7thspace.com/headlines/403574/internet_gold_scam_lands_houston_man_15_years_in_federal_prison.html
If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. 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, P.A. website at www.miamibankruptcy.com.
Tag: Chapter 7
Kingcade & Garcia, P.A. Helps Small Businesses take the right action when filing for Bankruptcy
Many business owners assume that when financial challenges strike their business the only option is to file under business bankruptcy protections such as Chapter 11 – a process that can be highly complex and exceedingly costly. In reality, small businesses have a range of options, including filing under Chapter 7, which can provide a broader range of benefits and protections for individuals.
Chapter 7 can be a powerful tool for business owners who wish to:
• Put an immediate end to creditor harassment
• Eliminate credit card debts
• Stop creditor judgment proceedings
• Stop wage garnishment and repossession
Whether you run a retail business, restaurant or a web-based business from your home, in many cases you can handle your issues through traditional consumer bankruptcy protections. Many of our clients are professionals who provide services, such as accountants, architects, lawyers, real estate brokers, electricians and plumbers. With no hard assets, it can be difficult to keep a business running as lines of credit, loans and other forms of debt begin to accumulate. Our goal is get you back to selling services and not paying overhead costs. While you may be hesitant to file bankruptcy with an SBA loan, don’t be.
Before you are up-sold into an expensive and time-consuming Chapter 11 bankruptcy, make sure that there isn’t an easier and smarter way to resolve your problems. If you are a small business owner, there may be a real opportunity to pursue your debt relief through the Chapter 7 process.
Contact Kingcade & Garcia, P.A. at 305-285-9100 to arrange a free consultation if you have any questions on this topic or are in need of filing a Chapter 7 bankruptcy for your business. It is extremely important that you hire an attorney who is experienced in the field of bankruptcy and focuses exclusively on representing the interests of individuals and their businesses in bankruptcy matters. 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, P.A. website at www.miamibankruptcy.com.
Is converting your Chapter 13 Bankruptcy to a Chapter 7 the right option for you?
There are two main forms of bankruptcy. In a Chapter 7, all or most of your consumer debt is eliminated, but some of your assets could be repossessed, including your car. In Chapter 13 bankruptcy, you set up a three- to five-year repayment plan that is based on your income and ability to pay.
Are you struggling to keep up with your Chapter 13 payments? If you have recently lost your job or become ill, Chapter 13 Bankruptcy may no longer be the right option for you. You have the right to convert a Chapter 13 bankruptcy to a Chapter 7 bankruptcy at any time if you become eligible. Many of our clients are surprised to discover they never have to go to court or see a judge in order to convert their Chapter 13 filings to Chapter 7.
Contact Kingcade & Garcia, P.A. at 305-285-9100 to arrange a free consultation if you have any questions on this topic or are in need of converting your Chapter 13 bankruptcy to a Chapter 7. It is extremely important that you hire an attorney who is experienced in the field of bankruptcy and focuses exclusively on representing the interests of individuals and families in bankruptcy matters. 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, P.A. website at www.miamibankruptcy.com.
How Filing Bankruptcy Can Help you Avoid Foreclosure
If you are facing foreclosure, bankruptcy can be a powerful alternative to saving your home. Filing Chapter 7 or a Chapter 13 bankruptcy automatically places a stay on foreclosure of your property; provided that you include the house as part of your bankruptcy and that your home is your personal residence.
Upon filing a Chapter 7 or Chapter 13, the bankruptcy court automatically sends all of your creditors an order directing them to cease collection activity on your property. The “Order for Relief” legally postpones the foreclosure while the bankruptcy is pending, which can last approximately three to four months.
However, it’s important to remember that timing is everything. If you allow your foreclosure proceedings to continue beyond the point of no return and the foreclosure notice is already filed with the courts, the automatic stay means nothing and foreclosure will continue. You have to make sure that you file the bankruptcy before the foreclosure is filed and your auction date set. This is best accomplished by filing the bankruptcy after your first missed mortgage payment.
While the bankruptcy is pending, and the weight of paying other creditors is lifted, this is your opportunity to take your resources that do not go directly to immediate living expenses (i.e. – food, utilities, gas and transportation) and channel that money directly into a lump sum payment to satisfy the mortgage company. If you head into bankruptcy court with the resources to reinstate your loan, you will have avoided foreclosure.
To read more on this story, visit:
http://www.associatedcontent.com/article/8037099/how_bankruptcy_can_help_with_foreclosure.html?cat=3
If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy attorneys at (305) 285-9100. 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, P.A. website at www.miamibankruptcy.com.