Author Archives: Jay Butchko
Bankruptcy and Disability Benefits: What to Know
Many individuals file for bankruptcy after sustaining a disabling injury or receiving a disabling medical diagnosis. Due to their disability, they are no longer able to work and to earn the same income they received prior to their disability, and as a result, their finances suffer. These bankruptcy filings often include a significant amount… Read More »
Common Post-Confirmation Issues in Chapter 13 Bankruptcy Cases
Chapter 13 bankruptcy cases are lengthy, and there are a number of steps in the process that result in these types of reorganization bankruptcies lasting for years. Most significantly, a debtor must have a repayment plan approved, and the terms of the repayment plan typically last three to five years under US bankruptcy law…. Read More »
What is the Absolute Priority Rule in Chapter 11 Bankruptcy?
For any business or individual planning for a Chapter 11 bankruptcy filing, it is important to know about the “absolute priority rule” and its role in this type of bankruptcy case. The absolute priority rule concerns the order and manner in which creditors must be repaid in the proposed repayment plan. Although it initially… Read More »
What Are Creditors’ Committees in Chapter 11 Bankruptcy?
Is your business considering filing for Chapter 11 bankruptcy? Or are you an individual whose debts are too high to qualify for Chapter 13 bankruptcy, and thus you are considering a Chapter 11 bankruptcy filing? In either case, it is important to understand the role that creditors’ committees can play in Chapter 11 cases…. Read More »
Bankruptcy Dismissal Versus Discharge
Individuals who file for bankruptcy typically expect to have their debts discharged at the end of their bankruptcy case — whether that is several months after filing a Chapter 7 bankruptcy petition or years after filing a reorganization bankruptcy case under Chapter 13 or 11. Yet in some cases, rather than receiving a discharge,… Read More »
Can Bankruptcy Erase My Tax Debts?
Many individual debtors who file for bankruptcy, especially under Chapter 7, do so in order to receive a discharge of their debts and to get a clean start financially speaking. A wide range of common consumer debts are eligible for discharge under the US Bankruptcy Code, and those debts often include credit card debt,… Read More »
Can I Seek an Early Discharge in My Chapter 13 Case?
Are you currently considering a Chapter 13 bankruptcy filing, or are you currently in the process of working through the terms of a repayment plan in a Chapter 13 bankruptcy case? If so, you likely know that the terms of a Chapter 13 repayment plan are long. To be sure, Chapter 13 repayment plans… Read More »
When is Personal Bankruptcy the Right Decision?
Many individuals who are struggling with debt know that bankruptcy may be an option for them, but they worry and wonder: when is personal bankruptcy the right decision to make? According to a recent article in The New York Times discusses how there is still an assumed stigma around filing for personal bankruptcy, but… Read More »
Protecting Personal Assets in Bankruptcy
In a bankruptcy case, one of the major concerns that many debtors have is how and whether they can protect personal assets. It is important to know that business bankruptcy cases do not involve personal assets (unless the business is a sole proprietorship, or unless there is an issue in which one of the… Read More »
How Bankruptcy Can Benefit South Florida Small Businesses
If you run a small business in South Florida and are struggling with business debt, have you considered the possibility of a business bankruptcy? According to a study reported in PR Newswire and conducted by researchers at Brigham Young University, Harvard University, University of Chicago, and University of Toronto, small business owners do not… Read More »
