Author Archives: Jay Butchko
How EIDL Loans Are “Haunting” Small Businesses
Is your South Florida business currently struggling to repay the pandemic loan it borrowed through the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program? If so, your business is among the millions of others in Florida and across the country in a similar situation. According to a recent article in The New York… Read More »
What Steps Do I Need to Take After the 341 Meeting of Creditors?
Many individuals who file for bankruptcy under Chapter 7 or Chapter 13 begin to think about the 341 meeting of creditors once all of the initial forms and documentation have been filed with the bankruptcy court. This meeting of creditors, which is also known more casually as the “341 meeting,” is a requirement in… Read More »
Do I Need Exact Amounts I Owe to Each Creditor When I File for Bankruptcy?
Have you considered filing for bankruptcy but held off because the process of obtaining all the specific information about your debts seemed too stressful? When you are already under stress as a result of financial struggles, it can feel almost impossible to sit down and determine, down to the very cent, the amount that… Read More »
How to Prepare for a 341 Meeting of Creditors
When you file for bankruptcy as an individual, or when a business entity files for bankruptcy, it is important to be prepared for the 341 meeting of creditors. This portion of the bankruptcy process, commonly known as simply the “341 meeting,” is a requirement under the US Bankruptcy Code and is conducted by the… Read More »
How is Property Owned as Tenancy By the Entirety Treated in a Bankruptcy Case?
Are you considering a personal bankruptcy filing but concerned about how jointly owned property will be treated in your bankruptcy case? Our West Palm Beach bankruptcy lawyer can help. In Florida, there is no straightforward answer to give you. Instead, the way in which jointly owned property will be treated in a bankruptcy case… Read More »
What is the Marital Adjustment Deduction in Bankruptcy?
Are you currently considering a personal bankruptcy filing under Chapter 7? As you may already know, this is a liquidation bankruptcy that will require the liquidation of your non-exempt assets, and in order to be eligible, you will need to pass something known as the “means test.” The means test is designed to show… Read More »
Price Pressures Leading to Rise in Consumer Bankruptcies
Prices at the grocery store and on other necessities continue to rise across the country. According to new data reported by CBS News, these price pressures may be one of the major causal factors behind a continuing rise in consumer bankruptcy filings. Over the last year, the numbers show that consumer bankruptcies rose by… Read More »
I Am Struggling to Make Chapter 13 Payments — Can I Switch to Chapter 7?
Individuals and married couples who choose to file for Chapter 13 bankruptcy do so for a number of reasons. Often, Chapter 13 is preferable because it is the type of bankruptcy through which a debtor can stop a foreclosure, catch up on mortgage payments, and keep their home. Chapter 13 bankruptcy also allows debtors… Read More »
Subchapter V and Debts Under Section 523(a)
Since 2019 and the passage of the Small Business Reorganization Act (SBRA), many small businesses in Florida and throughout the country have been eligible to file for a new type of bankruptcy designed specifically for smaller businesses called Subchapter V. This type of reorganization bankruptcy is a subchapter type of the traditional reorganization bankruptcy… Read More »
Will I Have to Turn Over My Tax Refund to the Bankruptcy Trustee?
As tax time quickly approaches in South Florida, anyone who is considering the possibility of filing for personal bankruptcy may have many questions about their income taxes and their bankruptcy case. In particular, if you know or expect that you will receive a tax refund this year, you may be concerned that filing for… Read More »
