Author Archives: Jay Butchko
How Will A Bankruptcy Trustee Know If You’re Lying?
You’re filling out your bankruptcy paperwork, and your bankruptcy attorney told you how important it is to be truthful. But a part of you is wondering, if you’re not entirely truthful, who will know the difference? How will the bankruptcy court or trustee ever know what the real truth is? There are a lot… Read More »
No, You Won’t Lose Your Retirement Money In Bankruptcy
If you are filing for bankruptcy, the one thing you really can’t stand to lose, is your retirement account. Luckily, bankruptcy will usually not do anything to your retirement, and most retirement accounts are completely bankruptcy exempt. ERISA and Non-ERISA All Get Protections Because of a 2005 law change, almost every kind of ERISA… Read More »
When Should You File For Bankruptcy If Your Income Varies Month To Month?
Many Americans’ incomes are fairly consistent. Sure, we get a raise here and there, maybe a bonus, but for the most part, our incomes stay consistent from month to month. But for other people, income can vary. Perhaps they work on commission, or do side jobs that may vary in how often they occur,… Read More »
Is There A Minimum Or Maximum Amount Of Debt You Can Have For Chapter 7 Bankruptcy?
When people think about filing for bankruptcy, they usually have one of two worries: They worry that they have too much debt to file for Chapter 7 bankruptcy, or they worry that they have too little debt. The good news is that there is no maximum or minimum amount of debt. In fact, the… Read More »
Most Threats By Debt Collectors Are Empty
Debt collectors make their living off of making threats. Threats provide the fear needed to force you to pay debts, and often, to pay debts you may not even owe. For the most part, debt collectors don’t really care how truthful their threats are. Their only goal is to scare you into paying. What… Read More »
Is Bankruptcy Unethical? No, And Here’s Why
Many people who are far in debt and struggling with finances simply refuse to consider bankruptcy. Not because they can’t file, or because they don’t qualify for bankruptcy. Instead, they don’t want to file because they consider bankruptcy to be immoral, or unethical. Certainly, your personal morals and ethics are yours, and everybody is… Read More »
Can You Dismiss Your Bankruptcy Case?
In almost every kind of civil case, if you file a lawsuit, you can change your mind, and dismiss the case at any point, often with little or no consequences. After all, you voluntarily choose to start the case, so you certainly have the option of ending it prematurely, if that’s what you want… Read More »
Companies Use Division And Merger To Avoid Debts In Bankruptcy
In bankruptcy, there are few new or novel legal questions. However, drug manufacturer Johnson & Johnson is using a new bankruptcy tactic to try to restructure its company. Lawsuits Hit Johnson and Johnson Johnson and Johnson is an enormous, multi-billion dollar healthcare company. However, a series of personal injury lawsuits and verdicts entered against… Read More »
Southern District Bankruptcy Court Has A New Student Loan Workout Plan
As many people know, student loans are not dischargeable in bankruptcy, absent very severe hardship. Although Congress always seems to be working on a solution to allow loans to be discharged, these proposals never seem to go anywhere. The good news is that locally, the Southern District of Florida has come up with its… Read More »
Questions To Ask Your Bankruptcy Attorney
Hopefully, if you’ve decided to file for bankruptcy, you have made the decision to go with a qualified bankruptcy attorney. But now comes the hard part: Selecting the right one. When you go to meet your bankruptcy attorney, they will certainly explain the bankruptcy process to you, but what about you? What questions will… Read More »
