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Current News and Updates:

For the Latest News and Updates, Click Here to Go to the Chapter 11 Bankruptcy Blog

Jason A. Burgess was featured recently in The Daily Record and the Jacksonville Business Journal in Jacksonville, Florida.

We're not out of the woods yet [June 28, 2012]

Per the Jacksonville Business Journal The Law Offices of Jason A. Burgess, LLC had three of the top twenty largest cases in 2011 for Jacksonville, Florida [December 28, 2011]

Seven Duval Hotels File Chapter 11 Since Jan. 1 [April 8, 2011]

It's a record: Bankruptcies end 2010 near 67,000 [January 7, 2011]

Bankruptcies: Record year within reach [December 10, 2010]

Decrease in business bankruptcies not expected to last [October 18, 2010]

Bankruptcies: Nine-month rate continues at record [October 7, 2010]

Bankruptcies tracking to trump 2009 [August 13, 2010]

District bankruptcies nearing annual 70,000 [July 13, 2010]

Brunell Chapter 11 'sign of the times' [July 7, 2010]

See Jason Speak in Jacksonville:

"Lien Stripping" Junior Mortgages

 




Real Estate Advantages

Chapter 11 bankruptcy has many advantages for real estate investors.  Below are just a few reasons to consider Chapter 11:

1. It allows real estate investors to lower loan balances to the current market value of the real property and to restructure that loan over a new term with a low, fixed interest rate.

2. It allows real estate investors to completely remove second or third mortgages from properties where the value is less than the first mortgage balance. The second and third mortgages are then treated as completely unsecured and discharged at the completion of the case just like a credit card balance.

3. It allows individuals to restructure their unsecured debt, including unsecured second and third mortgages. Individuals have to pay back anywhere from 0% to 100% to their unsecured creditors depending on their particular circumstances. Even if 100% is required, it is paid back over at least five years with little to no interest and absolutely no penalties or late fees.

4. It immediately stops any legal proceeding against the individual, including foreclosure proceedings.

5. It provides a period of time where no payments are made on unsecured debt and smaller payments are made on secured debt which allows individuals to save up a cash reserve to operate.

There are many other reasons for real estate investors to consider Chapter 11 when faced with tough financial times. Please feel free to call (904) 372-4791 to set up a free consultation to consider your particular options. You may also email jason@jasonaburgess.com

 
 
   
  The Law Offices of Jason A. Burgess, LLC 1855 Mayport Road, Atlantic Beach, Florida 32233   "We are a debt relief agency and help businesses and individuals file for bankruptcy under the bankruptcy code."