Author Archives: Jay Butchko
What Are Avoidable Transfers in a Chapter 11 Bankruptcy?
When a business files for Chapter 11 bankruptcy (or in the less common situation in which an individual files for Chapter 11 bankruptcy), the debtor will typically become a debtor in possession. What this means is that, during the course of the bankruptcy case, the debtor will take on all but the investigative powers… Read More »
Will I Lose My Retirement Benefits If I File for Bankruptcy?
Whether you already have a substantial amount of retirement benefits due to the nature of your work, or you are nearing retirement age, considering a personal bankruptcy filing can be stressful. You may be especially worried about the status of your retirement benefits, and whether you will be at risk of losing your retirement… Read More »
Do I Need to Include All of My Debts in My Bankruptcy Case?
Are you considering a personal bankruptcy filing in South Florida? If so, one of the early steps you will need to take is to identify all of your debts and all of your assets. In accounting for all of your debts, you may be thinking about specific debts you have that you may not… Read More »
Can My Business Reduce Its Debt to Qualify for Subchapter V?
If your South Florida business is struggling financially, you may be considering a reorganization bankruptcy. Reorganization bankruptcies allow businesses to remain open during a bankruptcy case and to restructure debt so that they can catch up on debt owed to creditors over time. There are different types of reorganization bankruptcies that businesses can file,… Read More »
Rising Consumer Unsecured Debt and Bankruptcy
Consumer debt in Florida and throughout the United States has recently been on the rise. More individuals are spending beyond their means, and often for goods and services that feel like necessities. The cost of groceries has risen sharply, requiring families to spend substantially more money than they used to for food. Utility costs,… Read More »
Can Debt Incurred During the Holidays Get Discharged in Bankruptcy?
The holiday season often involves non-essential spending that many Americans do not appropriately budget for, especially when they are already struggling with debt. According to data from WalletHub, South Florida is a region where holiday spending tends to be especially high — among the top 20 highest spending regions in the country. On average,… Read More »
Can Chapter 11 Bankruptcy Involve the Liquidation of Some Business Assets?
If your business is considering a Chapter 11 bankruptcy filing, you may already be aware that this is a type of reorganization bankruptcy that does not involve the liquidation of business assets and does not require the closure of a business. Many business owners are eager to file for Chapter 11 bankruptcy over a… Read More »
Can I Pay Off Alimony Over Time in a Chapter 13 Bankruptcy Case?
If you are considering a bankruptcy filing that involves debt for family support of any kind, it is essential to know that this type of debt — meaning alimony and child support — cannot be discharged in a bankruptcy case. Accordingly, if you were considering a Chapter 7 bankruptcy filing in order to have… Read More »
What is a Bankruptcy Adversary Proceeding?
If you are planning to file for bankruptcy and to seek a discharge of your student loan debt, or if you suspect one or more creditors might contest a discharge of certain debts you currently hold, it is essential to learn more about what an adversary proceeding involves and how it functions in a… Read More »
Can a Creditor Prevent My Debt from Being Discharged?
Are you planning to file for individual bankruptcy and anticipating that the majority of your debts will be discharged? In Chapter 7 bankruptcy cases in particular, debtors are counting on the discharge of eligible debts. Debtors also may be anticipating that certain debts will be discharged at the end of a Chapter 13 bankruptcy… Read More »
