Author Archives: Jay Butchko
Rising Rate of Small Business Bankruptcies and Subchapter V
For quite some time, commentators have been suggesting that the rates of individual bankruptcy filings under Chapter 7 and Chapter 13 will increase as consumers return to making student loan payments and continue to contend with the effects of inflation. Yet in practice, business bankruptcies have been rising at a rate that is notable…. Read More »
Student Loan Payments Have Restarted — Can You Discharge Those Loans in Bankruptcy?
Federal student loan payments have restarted for millions of Americans, and although many have been approved for income-driven repayment (IDR) programs that include the new “SAVE” plan designed to lower monthly payments for many borrowers, many of those student loan debtors will soon be struggling to make their payments. Now that student loans have… Read More »
How Much Will My Bankruptcy Case Cost?
When you are planning to file for personal bankruptcy, or your business is considering a bankruptcy filing in South Florida, a question that often comes to mind is one concerning cost. In short, how much does a bankruptcy case cost? There is no single answer to that question since the cost of a bankruptcy… Read More »
Does My Business Have to Liquidate Assets in Bankruptcy?
Many people assume that any type of bankruptcy filing involves the liquidation of assets. Indeed, it is a common myth or misconception that any kind of bankruptcy will involve losing all personal and/or business assets. In fact, there is no type of personal bankruptcy in which all of an individual’s assets will be liquidated… Read More »
Common Timelines in Bankruptcy Cases
How long does the average bankruptcy case take, and what are the steps in a timeline for the average bankruptcy case? Since there are various types of bankruptcy, there is no single overall bankruptcy timeline, but there are particular expectations that you may be able to use as a guide based on the type… Read More »
Bankruptcy and Holiday Season Planning: Things to Consider
If you are currently struggling with debt and have been considering the possibility of filing for consumer bankruptcy in South Florida, it is important to have a clear understanding of how a bankruptcy case can be impacted by holiday season spending. In other words, it is essential to learn more about how spending prior… Read More »
Liquidation Versus Reorganization: What to Know
Whether you are researching bankruptcy options for yourself as an individual debtor or for your business, you have likely come across the terms “liquidation” and “reorganization” in various contexts. You might have realized that these terms are used to refer to different types of bankruptcies, and that there are many different chapters of bankruptcy… Read More »
Steps in a Chapter 7 Student Loan Bankruptcy Case
Debtors throughout Florida have entered back into student loan repayment, and many are struggling with debt. Even with revised income-based repayment options, debtors are still finding it difficult — and often impossible — to make ends meet with an added monthly student loan payment. For debtors who have been feeling overwhelmed by student loan… Read More »
Part-Time Florida Residents and Bankruptcy Cases
Florida is a state with an extremely large population of part-time residents, primarily including retirees who spend their winters in the state. According to Kiplinger, nearly 22 percent of the state’s residents are aged 65 and older. During the winter months, the overall Florida population rises about 5 percent due to an increased number… Read More »
Am I Eligible for Bankruptcy Exemptions?
If you have some familiarity with bankruptcy processes, you might know that “exemptions” are important in most individual bankruptcy cases. While exemptions are relevant in most personal or consumer filings, they do serve different purposes. In a Chapter 7 bankruptcy case, exemptions are what allow the debtor to retain certain property or assets while… Read More »
