Author Archives: Jay Butchko
Should I Plan to Use Florida’s Homestead Exemption?
Are you considering a personal bankruptcy filing in South Florida and wondering if it makes sense for you to claim certain exemptions? The homestead exemption in Florida, which is available under the Florida Statutes, is among the most generous homestead exemptions in the country. For homeowners who are filing for bankruptcy and have a… Read More »
What Are My Options If I Cannot Pass the Means Test?
Are you currently considering a bankruptcy filing in South Florida but unsure about your ability to pass the “means test”? If so, it is important to understand whether the means test is even applicable to your bankruptcy plans, and if so, what your options might be if you cannot pass the means test. In… Read More »
How a Chapter 11 Bankruptcy Can Create Financial Stability for Your Business
When a business in South Florida is struggling financially, the owners might shirk at initial discussions of bankruptcy because they have misconceptions about what a business bankruptcy entails. Indeed, many business owners assume that when a business files for bankruptcy, it must close its doors and liquidate any existing or remaining business assets. Yet… Read More »
What Happens to “Exceptions to Discharge” in Bankruptcy?
Are you thinking about filing for personal bankruptcy? Whether you are planning to file under Chapter 7 or Chapter 13, it is critical to understand how the “exceptions to discharge” in the US Bankruptcy Code could affect your bankruptcy case. The statutory exceptions to discharge are particularly important to consider in Chapter 7 cases… Read More »
Adjustments to Bankruptcy Debt Thresholds
Many individual debtors in South Florida are considering a Chapter 13 bankruptcy filing. This is a popular and common type of bankruptcy for individuals because it does not require that the debtor have limited assets or resources (as a Chapter 7 filing does), and it does not require debtors to have all non-exempt assets… Read More »
How Does the HAVEN Act Apply to Bankruptcy Cases?
If you are a veteran of the US armed forces and you are struggling with debt, it is critical to learn more about the HAVEN Act and how it might apply to your bankruptcy case if you are considering filing. In short, the Honoring American Veterans in Extreme Need Act of 2019 (HAVEN Act)… Read More »
How Can I Protect My Rental Property If I File for Bankruptcy?
Are you currently considering a bankruptcy filing but concerned about how your current rental property will be treated in your bankruptcy case? There is no single way to explain how rental property is treated in bankruptcy cases because it will depend on the type of bankruptcy, including whether you are filing as an individual… Read More »
Ways Bankruptcy Can Protect Small Businesses in South Florida
Many business owners avoid the topic of bankruptcy when their business is struggling because they fear that a bankruptcy filing will mean the end of the business. This is a common misconception, however, and it is only applicable to business liquidation bankruptcies. Reorganization bankruptcies, much differently, are able to protect small businesses and their… Read More »
Bankruptcy Dollar Amount Adjustments in Effect
On April 1, 2025, new adjusted bankruptcy dollar amounts went into effect and will remain in effect until March 31, 2028. Every three years, there is an automatic adjustment to certain dollar amounts. That automatic adjustment every three years occurs under Section 104 of the US Bankruptcy Code. Any bankruptcy filing that has occurred… Read More »
How to Buy a Home After Filing for Bankruptcy
You might have heard the common myth that it is impossible, or nearly impossible, to buy a home and to obtain a mortgage after you have filed for bankruptcy. This is a myth, and many Florida residents successfully obtain mortgages and buy homes after bankruptcy cases. For many of those Floridians, the wait times… Read More »
