Author Archives: Jay Butchko
In Bankruptcy, You Can Own Property Without Owning Property
Here’s a riddle: How can you own property, but legally, not own that same property? The answer is one that exists in the legal world, and which has special impact in the bankruptcy world. If you’re filing Chapter 7 bankruptcy, understanding the different kinds of ownership can be the difference between being legally able… Read More »
How Can Chapter 13 Bankruptcy Help if You Are In Foreclosure?
If you are in foreclosure, you may be looking at a way to save your home. We recently wrote about Chapter 7 bankruptcy and what it can and cannot do to help you if you are in foreclosure. One thing that Chapter 7 cannot do is save your home, at least not directly. But… Read More »
How Can Chapter 7 Bankruptcy Help if You Are In Foreclosure?
If you are facing foreclosure, or think you could be, there are many answers and defenses that you can raise to the foreclosure. But what about bankruptcy? Can a bankruptcy help you avoid a foreclosure, or keep your home? The Automatic Stay The first benefit of filing for a bankruptcy if you are in… Read More »
Inherited IRAs and Bankruptcy
Retirement accounts are typically exempt from bankruptcy. This means that if you have money saved in a retirement account, such as a 401(k) account, a bankruptcy trustee can not utilize any of those monies in order to repay your debts. This is important to remember because your retirement accounts are essentially safe and secure… Read More »
History of Bankruptcy in America and Why it Matters
The theory as to the origin of the word bankruptcy is from the Latin words bancus (bench) and reptus (broken). It symbolized the banker who sat on a public bench. When the banker could lose all of his money and not have the ability to meet his obligations, his bench would be broken. Learn… Read More »
Bankruptcy Document Preparation Services
If you are facing overwhelming debt, and are struggling to pay the bills, you may be constantly receiving phone calls from creditors regarding debts that you owe. In the meantime, you may either be out of work, or realize that you simply do not have enough money at the end of the month to… Read More »
HELOC and Bankruptcy
Many homeowners take out a home equity line of credit, called a HELOC, when they need extra money for home improvements or other large expenses. This equity line of credit allows a homeowner the finances to take care of some substantial financial issues, however, every line of credit needs to be paid back at… Read More »
How To Be a Good Bankruptcy Client (And Why It Matters)
If you have made the decision to file for either Chapter 7 or Chapter 13 bankruptcy for a financial fresh start, you likely feel a sense of relief on one hand that the decision is made, but also a sense of apprehension as you likely have never been through the process. If you have… Read More »
Medical Debt and Bankruptcy
Medical debt is one of the leading causes that drives individuals to make the decision to file for bankruptcy. Unfortunately, astronomical medical debts can occur to any person at any time. Even those people who have reliable health insurance can begin to face serious medical debts if they develop a significant or lifelong medical… Read More »
Can I Dismiss My Chapter 7 Bankruptcy Case?
The short answer is that there is no absolute right to voluntarily dismiss your Chapter 7 bankruptcy case. However, you may have certain rights that will allow you to attempt to dismiss your case. Learn more about why a debtor would want to dismiss their bankruptcy case, and what options they may have. Why… Read More »
