Author Archives: Jay Butchko
Should I File For Bankruptcy If Most Of My Debt Is From Student Loans?
Anyone who is thinking about filing for consumer bankruptcy but has a majority of their debt from student loans should work with an attorney to understand how student loan debt discharges work. It is important to know that student loans can be discharged in some bankruptcy cases, but student loans are much more difficult… Read More »
Student Loan Program And Repayment Through A Bankruptcy Proceeding
Federal student loans have been in forbearance since 2020. Beginning in January 2023, borrowers will once again need to begin making payments on federal student loans. While President Biden has announced plans to forgive $10,000 of student loan debt for each federal student loan debt holder, and up to $20,000 for debtors who received… Read More »
How Does My Income Affect My Eligibility For Bankruptcy?
Understanding how income affects a bankruptcy case can be complicated. Depending upon the type of bankruptcy you are considering or researching, you might learn that too much income can prevent you from being eligible to file for consumer bankruptcy. For other types of bankruptcy, you might learn that a regular income is necessary to… Read More »
Misconceptions About Bankruptcy
Whether you are researching different bankruptcy options yourself or speaking with friends, family members, or colleagues about bankruptcy, it is important to remember that many misconceptions about bankruptcy are shared routinely. While certain internet sites can provide you with helpful information, and sometimes family members or colleagues will be able to offer useful advice,… Read More »
Personal Guarantees And Business Bankruptcy: What To Consider
If you own a business and your business is considering the possibility of bankruptcy, it is important to consider whether you have made any personal guarantees for business loans or lines of credit and how any personal guarantees could impact the bankruptcy case or your personal finances. You may have provided a personal guarantee… Read More »
Things To Consider About Bankruptcy And Cosigners
There are many different situations in which an individual might ask a friend or family member to cosign a loan they are seeking, whether it is a loan for an automobile, for a mortgage, or for another asset. As the Consumer Financial Protection Bureau (CFPB) explains, a cosigner “takes full responsibility for paying back… Read More »
What Is The Difference Between A Dismissal And A Conversion Of A Bankruptcy Case?
If your business has filed for bankruptcy, or if you have recently filed for consumer bankruptcy as an individual, you may be wondering if it is possible to convert your bankruptcy case to another chapter. Or, in some cases, you might want to put an end to your bankruptcy case before a discharge occurs…. Read More »
Increase In Chapter 13 Bankruptcy Limits
A newly signed bankruptcy law will increase Chapter 13 bankruptcy debt limits to a combined amount of $2,750,000 in secured and unsecured debt. If you are planning to file for Chapter 13 bankruptcy, it is important to know about the law, when it will expire, and what the increased debt limits could mean for… Read More »
Is Filing For Chapter 13 Bankruptcy Right For Me?
If you are currently considering personal bankruptcy, you are likely exploring your options for filing for bankruptcy in addition to other debt-relief possibilities. Once you have learned more about Chapter 13 bankruptcy, you may be wondering: is filing for Chapter 13 bankruptcy right for me? Chapter 13 bankruptcy can benefit many kinds of debtors… Read More »
Signs A Business Should Consider Bankruptcy
When should a business consider filing for bankruptcy? Making the decision to file for bankruptcy is not one that a business should take lightly, but it is also important for businesses in South Florida to know that filing for bankruptcy does not necessarily mean closing your doors. To be sure, businesses often file for… Read More »
