I have the following question for a Chapter 13 bankruptcy in Florida-
I have scowered the Web and come up with 2 different answers:

1. What is the maximum amount of unsecured debt allowed for chapter
13?

Some places state $269,000 - others state the combined
secured+unsecured must be less than $1,000,000 (like 275000 +
725000)....
Who knows the real answer???

2. If I have a house that was foreclosed in another state and then a
deficiency judgement for the amount lacking- is that considered
unsecured or secured debt?

Thanks in advance to anyone who can help answer these questions (once
again I live in Florida)-

....

"Jim" <jim_fl_bnkrpt@yahoo.com> wrote in message
news:33b94572.0406242110.413a947e@posting.google.c om... I have the following question for a Chapter 13 bankruptcy in Florida- I have scowered the Web and come up with 2 different answers: 1. What is the maximum amount of unsecured debt allowed for chapter 13? Some places state $269,000 - others state the combined secured+unsecured must be less than $1,000,000 (like 275000 + 725000).... Who knows the real answer??? 2. If I have a house that was foreclosed in another state and then a deficiency judgement for the amount lacking- is that considered unsecured or secured debt?

These are not questions that are dependent upon Florida law. The amounts of
debt permitted in chapter 13 are adjusted periodically (every three years).
See, 11 U.S.C. section 104. As of April 1, 2004, the limitations are
$307,675.00 in unsecured and $922,5975.00 secured. If your real property
was liquidated for less than what was owed the deficiency is unsecured -
unless the deficiency was reduced to a judgment and recorded against
subsequently acquired real property.

On 24 Jun 2004 22:10:49 -0700, Jim <jim_fl_bnkrpt@yahoo.com> wrote:
: Some places state $269,000 - others state the combined
: secured+unsecured must be less than $1,000,000 (like 275000 +
: 725000)....
: Who knows the real answer???

thoth gave you this info

:
: 2. If I have a house that was foreclosed in another state and then a
: deficiency judgement for the amount lacking- is that considered
: unsecured or secured debt?

They're scheduled unsecured. But nb, judgments recorded in our state
can cause grief with real property when not avoided. Consult your
attorney for the details.

--
Florida Bankruptcy FAQ
http://www.goldstein-pa.com/brFAQ.html

Thank you very much for your expert answers- it has helped a lot!


"Thoth" <thoth@notlisted.net> wrote in message news:<TRQCc.2183$Ch.1852@okepread04>... "Jim" <jim_fl_bnkrpt@yahoo.com> wrote in message news:33b94572.0406242110.413a947e@posting.google.c om... I have the following question for a Chapter 13 bankruptcy in Florida- I have scowered the Web and come up with 2 different answers: 1. What is the maximum amount of unsecured debt allowed for chapter 13? Some places state $269,000 - others state the combined secured+unsecured must be less than $1,000,000 (like 275000 + 725000).... Who knows the real answer??? 2. If I have a house that was foreclosed in another state and then a deficiency judgement for the amount lacking- is that considered unsecured or secured debt? These are not questions that are dependent upon Florida law. The amounts of debt permitted in chapter 13 are adjusted periodically (every three years). See, 11 U.S.C. section 104. As of April 1, 2004, the limitations are $307,675.00 in unsecured and $922,5975.00 secured. If your real property was liquidated for less than what was owed the deficiency is unsecured - unless the deficiency was reduced to a judgment and recorded against subsequently acquired real property.