Author Archives: Jay Butchko
Personal Income Taxes and Bankruptcy: Things to Consider
Each year as Florida residents begin to think about their income taxes and the filing deadline in April, many of those same residents are also considering the potential issues that may arise with their taxes if they are considering a bankruptcy filing. Whether you have unpaid income tax debt, or you are expecting an… Read More »
Debt Consolidation with a Personal Loan or Personal Bankruptcy?
Personal loans are among the leading ways in which Florida residents and Americans more broadly attempt to consolidate their debt. According to data from the Federal Reserve, personal loans are used frequently to consolidate credit card debt and to pay off medical bills. By the end of 2023, personal loans accounted for approximately 10… Read More »
Facts About Credit Card Debt and Consumer Bankruptcy
While it is difficult to pinpoint with certainty how often credit card debt alone leads to consumer bankruptcy filings, credit card debt is a commonly cited factor in a majority of Chapter 7 bankruptcy cases, as well as in Chapter 13 bankruptcy filings. If you are currently struggling with credit card debt and wondering… Read More »
Can Bankruptcy Clear that Income Tax Debt I Owe This Year?
If you have already been struggling with debt and making monthly payments to creditors, finding out that you owe even more debt in personal income tax can be demoralizing and devastating. In the months around tax time, Florida residents often go to tax preparers or use online software to find out if they can… Read More »
What is an Emergency Bankruptcy Filing?
For most people considering a personal bankruptcy filing, it is important to discuss your financial situation ahead of time with a bankruptcy attorney and to make plans well ahead of filing your bankruptcy petition. In some cases, however, a debtor might need to file a bankruptcy petition extremely quickly in order to have the… Read More »
Can I Avoid Bankruptcy If My Spouse Wants to File?
In a marriage, spouses often share bank accounts and manage finances jointly. As a result, when one spouse begins considering bankruptcy, the plan to file often includes both spouses. When both spouses in a marriage want to file for personal bankruptcy, the US Bankruptcy Code allows them to file a joint petition. In a… Read More »
Is Bankruptcy Different from Other Forms of Debt Relief?
Any Florida resident who is struggling with debt in the New Year may be looking into options for debt relief. When you begin conducting internet searches into debt relief options, you are likely to come across a few general options that include debt settlement, debt consolidation, and bankruptcy. The differences among these forms of… Read More »
How Long Does the Automatic Stay Last?
One of the benefits of filing for bankruptcy is that, as soon as you file, a type of injunction known as the automatic stay takes effect. If you have already begun to do research into the bankruptcy process, or you have friends or family members who have sought bankruptcy protection, you may already know… Read More »
Can I File for Chapter 7 Bankruptcy without Any Assets?
If you are considering Chapter 7 bankruptcy as an individual or consumer bankruptcy filer, you may have a general sense of how this type of bankruptcy works. Broadly speaking, in a personal Chapter 7 bankruptcy case, the debtor will file a bankruptcy petition along with a range of “schedules” that provide the court with… Read More »
Negotiating More Favorable Loan Terms with a Chapter 13 Bankruptcy
When a debtor files for Chapter 13 bankruptcy, you might hear about them getting more favorable loan terms as part of the bankruptcy case. The actuality is more complicated than that, but it is true that you may be able to have certain loans modified in conjunction with your reorganization bankruptcy case, and it… Read More »
