Author Archives: Jay Butchko
State Versus Federal Exemptions in a Bankruptcy Case
If you are considering a personal bankruptcy filing in South Florida, it is essential to learn about exemptions and how they work. Any initial research into bankruptcy exemptions will yield information about federal exemptions and state exemptions. As such, you likely have questions about which exemptions will be applicable to your case. You might… Read More »
Do Businesses Receive a Discharge in a Chapter 7 Bankruptcy Case?
When you own a business and are struggling to keep the business afloat, you might be considering a corporate or business bankruptcy. Yet understanding the specifics of a business bankruptcy case can be very complicated for a business owner that does not have experience with this area of the law or has not been… Read More »
Getting Relief from Student Loans through Bankruptcy
Student loan payments will soon resume, and borrowers cannot expect forgiveness under the Biden Administration’s previously proposed plan for loan cancellation. To be sure, the U.S. Supreme Court struck down the plan to cancel between $10,000 and $20,000 of federal student debt for each borrower earning under a certain amount each year. As a… Read More »
Residency Requirements for Florida’s Homestead Exemption
If you own real property in Florida, and if you currently live in the state and are thinking about filing for Chapter 7 bankruptcy, you might know a little bit about Florida’s extremely generous homestead exemption. As you might know more broadly, in a Chapter 7 bankruptcy case, all assets that are “exempt” under… Read More »
Is Subchapter V Bankruptcy Available for My Business?
Is your business currently struggling with debt? Many small businesses in South Florida are facing financial difficulties, and many are considering the possibility of bankruptcy. While Chapter 7 bankruptcy cases for businesses do require business closure, reorganization bankruptcies are much different. The most common type of reorganization bankruptcy for businesses is Chapter 11, although… Read More »
Fact Sheet: New Process for Student Loan Bankruptcy Discharges
There is a new process for the Department of Justice (DOJ) and Department of Education (DOE) to consider student loan bankruptcy discharge cases. In the event you have not already heard about the announcement from the DOJ back in November, now is a particularly good time to learn about the new process since student… Read More »
Answers to Common Personal Bankruptcy Questions
When you are considering personal bankruptcy, you are likely to have a wide range of questions. In some cases, it might be relatively easy to find a quick answer with some searching on the internet, but for many inquiries about the bankruptcy process, there are many myths circulating, and clear answers can be difficult… Read More »
Answers to Common Business Bankruptcy Questions
When businesses struggle financially, many business owners consider the possibility of bankruptcy. Given that there is often significant news coverage about store closures and company bankruptcies in Florida and throughout the country, and since there are so many different types of business bankruptcy, it can be difficult to know what information is applicable to… Read More »
What is the Difference Between a Bankruptcy Discharge and Debt Cancellation?
Anyone in South Florida who is struggling with debt should understand the difference between the discharge of debt that occurs in a bankruptcy case and the cancellation of debt that can happen outside a bankruptcy case. Depending upon your circumstances, it may be possible to have a lender agree to cancel certain debts you… Read More »
How Much Will My Chapter 13 Payments Cost?
If you are planning to file for Chapter 13 bankruptcy in West Palm Beach or elsewhere in South Florida, you most likely have a question on your mind that all debtors in your position are thinking about: how much will my Chapter 13 monthly payment be? Calculating a Chapter 13 monthly payment is complicated,… Read More »
