Author Archives: Jay Butchko
Exemptions You May Not Have Known Existed
If you are filing for bankruptcy, you may be aware that exemptions will protect some of your property from being taken by the bankruptcy court. In fact, for most debtors, these exemptions will ensure that none of their property is ever taken by the bankruptcy court. Some of these exemptions are well known, and… Read More »
Debt Collection: Don’t Get Scammed
If you are in debt, bankruptcy can be a good solution for you. But how in debt are you? Do you really owe what that creditor is saying you owe? Unfortunately, because of the rise of so many debt collection telemarketing scammers, many people are bombarded with scams or fake threats for money that… Read More »
Exempting Florida Annuities
Annuities can be a good, safe way to keep money for the long term, such as for retirement, because Florida, like many states, exempts annuities from ever being taken by the trustee. However, problems with bankruptcy protection can arise when annuities are transferred, or the benefits are paid to someone other than the policyholder…. Read More »
Business or Personal Debt? The Difference Matters
If you have debt, you may not think of whether the debt is personal—that is, incurred for your personal, family or household use—or whether the debt is business-related. After all, debt is debt and collectors are coming after you. But when it comes to Chapter 7 bankruptcy, the difference can mean being able to… Read More »
Getting Collection Calls to Stop
There are a lot of ways to stop collectors from contacting you. Of course, the most permanent way to do that is to file for bankruptcy. Between the automatic stay, which will stop collection activities as soon as your bankruptcy case is filed, and your discharge or the start of your Chapter 13 plan,… Read More »
What Happens to Cryptocurrency in Bankruptcy?
Cryptocurrency such as Bitcoin has, since 2009, been an asset that more and more people own. Some use it just like money, to buy things online, and others hold on to it like an investment, and in fact, Bitcoin has gone way up and way down in value over time. But what happens to… Read More »
Chapter 7 and the Presumption of Abuse
Not everyone can file for Chapter 7 bankruptcy because of the means test. The means test is a test of income to see if the debtor makes too much to file for Chapter 7. If a debtor fails the means test, the debtor now has two options: 1) file for Chapter 13, or 2)… Read More »
Bankruptcy Reform: a Glimpse Into What Could Be
It helps to dream big, and in the world of bankruptcy reform, that saying also applies. As the new year passes, many congresspeople in Washington have begun talking about passing a bankruptcy reform bill. While many of these will never see the light of day to actually become a law, it is interesting to… Read More »
Making Payments Outside of a Chapter 13 Plan
When you file for Chapter 13 bankruptcy, you will agree to make payments towards your debts to the trustee. You won’t have to pay off 100% of your debts, but whatever you agree to will be divided over the course of 3-5 years. At the end of that time period, all of your (otherwise… Read More »
Getting Caught Up With Your Mortgage in Chapter 13 Bankruptcy
If you are in foreclosure, there are some forms of bankruptcy that can help you more than others. One type of bankruptcy that can help you is Chapter 13 bankruptcy. This can be good to know—a large percentage of people who file for bankruptcy do so because they are behind on mortgage payments, or… Read More »
