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In This Issue - July 2010
5 QUICK FACTS ABOUT BANKRUPTCY
2011 H-1B CAP RECENTLY UPDATED
5 QUICK FACTS ABOUT BANKRUPTCY
Your homestead is only protected in full after 1,215 days in Florida. Prior to this time, $125,000 per person is protected.
An automatic stay is put into effect when one files which protects the debtor from creditors trying to sue or collect against judgments. The process is administered by a trustee. The meeting of creditors is not presided over by a judge.
You are only permitted to keep $1,000.00 of equity in a vehicle in Florida as an exempt asset.
A Chapter 13 reorganization is a viable plan when a debtor wants to keep unprotected assets.
2011 H-1B CAP RECENTLY UPDATED
USCIS has just updated the cap numbers for H-1Bs for the 2011 fiscal year. As of June 29, 2010, 23,500 cap subject cases have been filed. Additionally, 10,000 cases have been receipted in for individuals holding advanced degrees. Annually, the cap is set at 65,000 visas for regular H-1Bs and 20,000 for advanced degrees.
