Carolyn Secor, PA

10/02/2024

In the wake of Hurricane Helene, and as the recovery process has begun, I want to inform you of several critical resources available to those impacted in Florida, Georgia, South Carolina, North Carolina, and Tennessee.

Even if you're not in these states, please consider sharing this information with friends or family who may need assistance.

1. Florida Small Business Emergency Bridge Loan Program
Florida Commerce has activated the Florida Small Business Emergency Bridge Loan Program to assist small businesses affected by the hurricane. This program provides short-term, interest-free loans to help businesses bridge the gap until long-term recovery resources are available.

Funds are limited, so I encourage eligible businesses to apply promptly.

🔗 Apply and learn more: Floridajobs.org/EBL.

2. SBA Economic Injury Disaster Loan (EIDL) Program
The federal government has declared the affected counties as disaster areas. This declaration makes businesses eligible for low-interest loans under the SBA's Economic Injury Disaster Loan (EIDL) program.

Whether you've suffered physical damage or economic injury, these long-term loans can provide much-needed relief.

🔗 Apply and learn more: www.sba.gov/funding-programs/disaster-assistance.

3. FEMA Assistance for Individuals and Businesses
For both personal and business assistance, FEMA offers various programs to help you recover from the disaster. This includes grants for temporary housing, home repairs, and other uninsured disaster-related needs.
🔗 Apply and learn more: www.DisasterAssistance.gov

You can find more information on the Coronavirus (COVID-19) page and the Centers for Disease Control and Prevention (CDC) website.

09/30/2024

If your home has sustained severe damage your taxes will be reduced if you follow the steps below:

Storm Damage Assistance

If your residence has suffered severe storm damage, Florida law contains specific provisions regarding your property tax assessment and how property tax relief may be granted when your home is impacted by a hurricane, fire, or similar catastrophe.

We encourage you to promptly get in touch with our office to initiate a conversation about the damage and its potential implications on your property assessment. Please request to speak with your area appraiser when calling and we'll quickly direct you to them.

For your convenience, we've created a storm damage form/survey for you to document structural damage to your property (excluding damage to fences or fallen trees). Kindly submit accompanying photographs, videos of the damage, insurance adjuster reports, repair receipts, and any relevant documentation related to the structural impairment of your home and site improvements.

Our appraisers will diligently document the current condition of your property and will subsequently conduct an on-site visit towards the end of the year to assess whether repairs or reconstruction have been completed.

Should the repairs or reconstruction remain incomplete as of January 1 following the occurrence of the damage, our appraisers will adjust your market and capped values accordingly as of that January 1, which will apply to the upcoming tax year.

This adjusted value will subsequently influence the property tax bill you will receive in the subsequent November. For instance, if your home sustains extensive damage in September 2024 and repairs are finalized in February 2025, the property tax reduction will not reflect on your November 2024 tax bill but will instead appear on your November 2025 tax bill. The value of the repaired or replaced property will not be subject to taxation until November 2026.

Homeowners may still retain the homestead exemption and the Save-Our-Homes cap, provided they do not claim a new homestead exemption for a different property while they are in the process of rebuilding or repairing the damages, as outlined in Section 193.155 4(b) of the Florida Statutes.

Additional storm damage resources, including information about electing to rebuild following a calamity, are available on our Property Damage page.

As always, we stand ready to answer your questions and encourage you to call (727) 464-3207, email [email protected] or visit one of our four convenient locations.

Mike Twitty

Pinellas County Property Appraiserp

11/25/2022

09/27/2022

To all my Tampa Bay friends, this is a friendly reminder to video EVERYTHING in your home! Pictures are better than nothing, but even better is taking a video (and narrating what you are looking at) of the contents of every room, every closet, every drawer, ever shelf, every cabinet, etc. Don't forget your garage, you car trunk, and then do the same for you place of work! If you ever need to file a claim (especially if you have replacement cost coverage for personal property), there is no way you will remember everything you had!

Stay safe!

03/20/2022

When the car market stabilizes, there are going to be many folks that have loan balances that far exceed the value of their car. Only for those folks that absolutely need a bankruptcy, there is something we can do to help them keep the vehicle, pay fair market value for it at the time the bankruptcy is filed and then discharge/get rid of the negative equity...it is called a Motion to Redeem in a chapter 7 case and a cramdown in a chapter 13. Of course, each case is unique and each person must have an attorney make sure they qualify to ensure a bankruptcy can help them with their car and and other debts.

03/19/2021

Last night, the US House of Representatives voted 415-to-3 to extend the PPP.

Next week the Senate should vote on the bill to extend the PPP loan application period. If the bill passes, the President will sign it and the deadline to apply for a PPP loan will be moved from March 31 to May 31.

We strongly recommend you apply now if you haven’t already. There are no guarantees that the program will be extended or that there won’t be new problems with it.

The PPP program has several new features including but not limited to:

1) Bigger loans

Tens of millions of Americans are eligible for PPP loans and now they can get even more money. The latest change allows 1099s, independent contractors, self-employed people, sole proprietors, and single member LLCs to use Gross Income instead of Net Profits to calculate their loan size, which means larger loans on average.

2) More businesses qualify

Factors that were previously disqualifying have been removed so more businesses are eligible. For example, applicants who defaulted on student loans, have a criminal record, or were previously told they don’t qualify may re-apply now.

3) Second Draw loans now available

With PPP Fast Lane we will help you get your Second Draw loan ASAP automatically. But any business that received their First Draw PPP loan in 2021 can now apply for their Second Draw thanks to a recent rule change. Apply now!

4) More individuals qualify

Independent contractors, 1099s, self-employed people, and sole proprietors without employees can apply. You can even apply with your draft tax return from 2020.

In closing, many lenders including Chase and Bank of America--have already stopped helping businesses with the PPP. But the majority of smaller banks and credit unions are still accepting applications. Please go to www.sba.gov to see a list of participating lenders.

We support America's small businesses. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business.

03/13/2021

Be careful! Private debt collectors can seize $1,400 stimulus checks and garnishments are not stayed in Florida.

If you have a debt situation or are facing a debt collection lawsuit, call our office today for a free consultation to confirm your legal rights. 727-254-1704

Www.bankruptcyfortampa.com

https://www.usatoday.com/story/news/politics/2021/03/10/private-debt-collectors-can-seize-1-400-stimulus-checks/6938635002/

Congress looks to close loophole that will allow private debt collectors to garnish $1,400 checks distributed under COVID-relief package.

01/07/2021

IMPORTANT MESSAGE:

The U.S. Treasury has begun issuing its second round of stimulus payments. People who don't receive a direct deposit by early January should look for either a check or Economic Impact Payment (EIP) debit card in the mail. People will not necessarily be paid the same way they received their first stimulus payment.

Please let people know that the EIP card is not a scam. The card will be sent in a white envelope that prominently displays the U.S. Department of the Treasury seal. A picture of the EIP card and tips about how to use it without fees are in National Consumer Law Center's fact information sheet. You can click on this link to see a sample of what they look like.https://www.nclc.org/images/Issue-Brief-Money-Network-EIP-Cards.pdf

More information about the distribution of stimulus payments is in the IRS press release and in new FAQs at ww.irs.gov. Note: Because payments are being issued based on information the IRS already has on file, people will not be able to add new bank account information or request to receive their payment by EIP Card.

Most individuals will receive $600 and $1,200 for married couples filing a joint return and $600 for each qualifying child. New: Couples filing jointly with just one member of the couple with a work-eligible Social Security Number will now be eligible for payments for the taxpayers and their qualifying children.

People do not need to take any action right now to receive their stimulus payment. Eligible individuals who do not receive their payment or who did not receive their first stimulus payment can claim it (under the Recovery Rebate Credit) when they file their 2020 tax return this year. People who do not normally file tax returns should also file a 2020 tax return if they do not receive their stimulus payment.

Stimulus payments that are received in December 2020 or January 2021 by direct deposit will be automatically protected from garnishment by debt collectors. That is not true of payments that are claimed on the 2020 tax return and paid later in the year as part of the regular tax refund.

If you have bankruptcy related questions. Please call our main office at 727-254-1704 or go to www.bankruptcyfortampa.com

The law office of Carolyn Secor, P.A. focuses its practice in the areas of Bankruptcy and Foreclosure Defense. Our firm handles both Chapter 7, also known as the liquidation chapter in Bankruptcy and Chapter 13 cases

12/25/2020

Best Christmas present ever!!!!

12/25/2020

Merry Christmas and Happy holidays!

11/18/2020

My clients often ask how long it takes to rebuild their credit score after bankruptcy. The answer is, typically 1 to 2 years although a bankruptcy will appear on credit reports for up to 10 years. The good news is that most credit bureaus remove the bankruptcy after 7 years. Below is a great article with tips how to rebuild credit credit.

Www.bankruptcyfortampa.com
727-254-1704

Have you recently filed for bankruptcy? It's probably hurt your credit score. Don't worry--we have tips on rebuilding credit after bankruptcy.

06/26/2020

The new normal and yes, it's okay to laugh at me! Have a great weekend everyone!