Author Archives: Jay Butchko
All About Cars in Bankruptcy
Cars are our lifeblood. They are how we get to work, and take care of our family. Especially in South Florida, where there is a lack of public transportation, getting a fresh start in bankruptcy doesn’t mean much if you lose your car in the bankruptcy. Here are some things that you should know… Read More »
Paying an Insider Before Filing for Bankruptcy? Watch Out…
In bankruptcy, all creditors are supposed to be treated equally. The debtor, presumably, has limited if any resources or assets, and it is up to the court to make sure that all creditors get whatever the debtor has, equally (or at least, in whatever way the law says that the debtor’s assets should be… Read More »
Bankruptcy and Medical Bills
It is always upsetting to see someone get themselves into financial trouble. However, it is more upsetting when someone is in financial trouble when they did nothing to cause the debt. Such is the case with medical debt. Medical Problems and Debt It is an insult to existing injury when someone with a terrible… Read More »
Florida’s Head of Household Exemption Can Help You in Bankruptcy
You are filing for bankruptcy, and when you do, you have some money in the bank. Not a lot—the money only represents what is left of perhaps the last few paychecks. Certainly, Florida’s bankruptcy exemptions allow you to exempt or protect between $1,000 – $4,000 of personal property. But is there another way to… Read More »
Help! I’m Getting Sued on a Credit Card Debt!
Getting sued for any reason can be scary. Thankfully most people won’t get sued in their lifetimes, but for people who owe money, the chances of a creditor’s lawsuit are significant. If you are sued, should you fight it or defend against the lawsuit? Should you get an attorney? Getting Served We’re talking here… Read More »
Bankruptcy Discharges Are Not Taxable by the IRS
One question we often hear is why file for bankruptcy if there is a chance that you can negotiate with your creditors to reduce or even eliminate debt on your own? Although the chances of getting a creditor to completely wipe out debt without making any payment is possible, and sometimes creditors will spontaneously… Read More »
What is a 341 Meeting?
In most bankruptcy cases, there are few if any hearings, few if any depositions and the process for you the consumer is relatively hassle free. However, there is one meeting that almost every consumer will have to attend if they want to obtain their bankruptcy discharge: The 341 meeting of creditors, often simply known… Read More »
Bankruptcy isn’t so Bad for Your Creditors, or the Economy
Many people feel bad, or guilty about filing for bankruptcy. They may feel like they are cheating the system, or cheating their creditors. However, bankruptcy is actually a fair process, designed to help both the debtor and the creditor. And while they may not admit it, directly or indirectly, bankruptcy can actually help your… Read More »
All About the Chapter 7 Bankruptcy Means Test
It used to be the case that almost anyone could file for Chapter 7 bankruptcy. However, that changed about 10-15 years ago, with the institution of what is known as the Means Test. The means test is a test of a debtor’s income to make sure that the debtor does not make too much… Read More »
What is the Automatic Stay?
One of the biggest benefits of filing for bankruptcy is the automatic stay. The automatic stay can give you temporary relief from creditors and collections, give you the time you need to get your affairs in order, and to get your bankruptcy discharge. What is the Automatic Stay? When you file for bankruptcy, all… Read More »
