Author Archives: Jay Butchko
How And Why Can You Keep Property In A Chapter 13 Bankruptcy?
In reality, as we have written numerous times in the past, most people will not lose any property in their bankruptcy. That’s because bankruptcy provides people with a lot of exemptions, which allow them to keep property, and because most debtors simply don’t own a lot of property that has significant value (at least,… Read More »
Discharging Personal Guarantees In Bankruptcy
As a general rule, your business debts are owed by the business, not you, personally. The business can sue, be sued, or file bankruptcy, and it should not ever affect your personal income, assets, credit, or other aspects of your life. Except for one situation: When you sign a personal guarantee. What is a… Read More »
Americans Are More In Debt Than Ever
It looks like, for now, COVID is subsiding a little bit, and as commerce starts to open, a lot of us are back to work again. Except there is one major problem hiding in American households: We, as a country, are farther in debt than we have ever been. Why All the Debt? Part… Read More »
What Is The U.S. Trustee?
When we talk about bankruptcy, we usually talk about the trustee in your case. The trustee is the government official that is charged with acting as a representative of your creditors. Practically, you may have a lot of creditors. They can’t all review your paperwork, ask you questions, investigate your assets, sell property, distribute… Read More »
Are Unemployment Overpayments Dischargeable In Bankruptcy?
During the height of the COVID-19 crisis, businesses closed down, and people found themselves out of work. As a result, many people found themselves unemployed—in fact, many states made it easier than ever to get unemployment. Overpayments of Benefits But many people who got unemployment now find themselves in a difficult situation—many received overpayments,… Read More »
How You Can Be Sued For A Credit Card Debt Without A Credit Agreement
If you are sued on a credit card debt, you may expect that the credit card company will show up to court with the credit agreement that you signed. After all, a credit agreement is a contract, and to sue on a contract, you need a copy of that contract. However, that isn’t always… Read More »
Can Debt From A Bail Bond Be Discharged In Bankruptcy?
Although it is not a very common occurrence, it does happen that people owe money from a bail bond. Is this debt dischargeable in bankruptcy? What is a Bail Bond? If you are charged with a crime, you have a right to be set free while you are awaiting trial. However, the state has… Read More »
What’s A Critical Vendor In A Chapter 11 Case?
When a company files for Chapter 11 bankruptcy, just like with any kind of bankruptcy, the debtor cannot simply pay some creditors, and not others. This is prejudicial to the creditors who were not paid. Why are Some Vendors so Important? The problem is that a business has some vendors that it absolutely needs… Read More »
Getting Rid Of A Repossession Deficiency Judgment
When you can’t make your car payment and you start to fall seriously behind in payments, you probably know that it’s likely that repossession of the car is coming. The repossession of your vehicle is bad enough. But what many people don’t realize is that even after repossession, you may face what is known… Read More »
Rental Scam Is A Reminder That Bankruptcy Can Help With Rent Problems
Now that the moratorium on evictions has ended in most states, including Florida, people who are behind on their rent may be facing eviction, wondering where they will go next. For many, even if they are once again employed, the months of missed rent while COVID kept them out of work is way more… Read More »
