Author Archives: Jay Butchko
Modifying Payments in a Chapter 13 Bankruptcy
In a Chapter 13 bankruptcy, you agree to pay your creditors some of the money that is owed to them over a period of 3-5 years. While paying money doesn’t always sound desirable, whatever you do pay during that time will be far less than what you would have owed had you not filed… Read More »
What are Contingent Assets and Should You Worry About Losing Them?
If you are considering filing for bankruptcy, you may be giving a lot of thought to the things you own to see if they are at risk of being taken during your bankruptcy. While in most cases, people do not lose property in bankruptcy, that’s a valid thing to at least consider (at least,… Read More »
Athletes Show that Anyone Can Go Bankrupt
One of the most common and pervasive myths in bankruptcy is that it is for poor people, or people who don’t earn a lot of money. In fact, bankruptcy is a tool that can be utilized by people of almost any means, as evidenced by the number of athletes and celebrities who turn to… Read More »
Bankruptcy and Your Credit Score
If you are thinking about bankruptcy, one of your biggest concerns may be your credit score, and how bankruptcy will affect it. Of course, bankruptcy does have a negative impact on your credit, but for how long? And how bad will your credit be after your bankruptcy? It May Not Be So Bad Many… Read More »
Why You Need the Bank to Take Your Home if You Don’t Want it After Bankruptcy
If you are in foreclosure and you file for bankruptcy, you may not want to keep your home (or other property, such as investment property, or a second home). But filing for bankruptcy may not solve all your problems if you aren’t also dealing with the foreclosure. When banks take forever to foreclose on… Read More »
Things to Know About Keeping Your Home When Filing for Bankruptcy
One big benefit of filing for bankruptcy in Florida is that if you own a home, your property is generally protected from being taken by the bankruptcy court to pay creditors. But Florida’s homestead exemption is not absolute, and it only applies in certain circumstances. Florida’s Bankruptcy Laws The first requirement to getting the… Read More »
How Does Chapter 11 Bankruptcy Work?
Many people are puzzled over Chapter 11 bankruptcy. The word bankruptcy, when applied to corporations or businesses, often is equated to the death of a company. In fact, many companies do file for bankruptcy, and never return again to do business. But others file bankruptcy—sometimes multiple times—and continue operations seemingly as if nothing happened…. Read More »
What is a 2004 Examination?
Bankruptcy is generally, for most debtors, a fairly trouble-free process. Although bankruptcy laws are complex, and you can lose property if you are not careful and don’t know what you’re doing, assuming that there are no problems, a bankruptcy discharge can be granted with minimal time, trouble and aggravation. Until problems arise, that is…. Read More »
Student Loans are Difficult – But Not Impossible – To Discharge in Bankruptcy
When we think of bankruptcy, we tend to believe that pretty much every debt is discharged when you file for Chapter 7 bankruptcy. But there is one type of debt that burdens thousands of people every day, that is, as of right now, almost impossible to discharge in bankruptcy: Student loan debt. Differences in… Read More »
Your Property May Not be Worth Much – But That’s a Good Thing
In our everyday lives, we usually don’t give much thought to what the value of our property may be. But if you file for Chapter 7 bankruptcy, the value of your property becomes a very crucial issue in your case. In some cases, what your property is worth can be the difference between losing… Read More »
