Author Archives: Jay Butchko
How Long Will My Chapter 13 Repayment Plan Be?
You have probably heard that a Chapter 13 bankruptcy repayment plan lasts between 3 and 5 years. But which is it, and how do you know which time period will apply to your case? The answer of course matters, because everyone would prefer to pay as little as possible for as short of a… Read More »
What Are Legal And Equitable Titles, And How Do They Affect My Bankruptcy?
In the real world, we either own stuff or we don’t. But it’s not that simple in the bankruptcy world. In bankruptcy, there are actually two ways to own things: Equitable and legal. Legal Ownership – What is It? Legal ownership is ownership that can be readily identified and that the law recognizes. For… Read More »
What Is Wage Garnishment And How Do I Stop It?
One reason that people may want to consider bankruptcy is to stop wage garnishment. But what is wage garnishment and how can one be avoided—with or without bankruptcy? How a Wage Garnishment is Put in Place A wage garnishment is an order put in by a creditor to take a portion of your wages… Read More »
How Florida’s Family Laws Can Help Your Bankruptcy Case
When people get divorced in Florida, there is no presumption that property is owned equally by the spouses, and the court will not automatically split property 50/50 between the husband and the wife. Rather, Florida is an equitable distribution state. This means that the court will look at property acquired during the marriage, and… Read More »
Withholding Or Altering Academic Transcripts Is A Violation Of The Automatic Stay
When you file for bankruptcy, an automatic stay immediately goes into effect. This means that all collections activities against you by any creditor—even those with non-dischargeable debts—must immediately stop, at least temporarily. This is a powerful advantage that a debtor has in bankruptcy. There are serious punishments for creditors that violate the automatic stay…. Read More »
Buy Now Pay Later Loans – What Are They?
When you need credit, you probably think of the standard and routine lines of credit. Credit cards, debit cards, or loans for bigger purchases, are all standard. But a new hybrid of these kinds of lending outlets is becoming more and more popular – buy now pay later (BNPL) loans. What is a BNPL… Read More »
What Is A Bankruptcy Audit?
When we think of an audit, we usually think of the IRS. But there’s another kind of audit: The bankruptcy audit. And just like with the IRS, you probably would prefer not to be the subject of an audit. When and How Are Audits Conducted? Bankruptcy audits are conducted by the US Trustee’s office…. Read More »
How Do Collections Lawsuits And Bankruptcy Affect Each Other?
Being sued on a debt is a major motivating factor that leads people to file for bankruptcy. Lawsuits can be scary, and for many people, bankruptcy’s ability to stop a collections lawsuit in its tracks is very appealing, as it should be. But how do bankruptcy and creditor lawsuits interact? What happens when you… Read More »
Why A Car Lien Can Help You In Bankruptcy
Rare is the case when you should be excited about having a lien on your property. But bankruptcy could be one of those cases. In fact, a lien on your car could be an advantage to you should you file for bankruptcy, no matter which chapter of bankruptcy you should choose. What is a… Read More »
COVID Relief Bill Had Some Important Business Bankruptcy Changes
Do you remember the COVID-19 relief bill that provided relief payments to Americans? Well that bill actually had a lot of amendments that were relevant to bankruptcy laws, and altered many longstanding bankruptcy laws. Many of the laws that were changed relate to Chapter 11 bankruptcies, and business bankruptcies, but others may find some… Read More »
