Author Archives: Jay Butchko
Understanding Common Bankruptcy Terms
If you are considering filing for bankruptcy, you may feel overwhelmed at all of the terminology used as you begin to research whether or not this process would be right for you financially. Understanding common bankruptcy terms can help you understand how the bankruptcy process may benefit you. The following are some common terms… Read More »
Bankruptcy and Your Utilities
If you are considering bankruptcy, you likely are facing mountains of debt and expenses. You may be worried about the repossession of your car or that your home may go into foreclosure. While you are worried about those events that may be weeks or months away, a more pressing issue may be your utilities…. Read More »
Listing Your Living Expenses During Bankruptcy
Part of the court’s job during the bankruptcy process is to determine what debts to discharge (Chapter 7 bankruptcy) or how to restructure your debts (Chapter 13 bankruptcy). As the court moves through this process, they must ask several questions regarding the debts of a person attempting to declare bankruptcy as well as the… Read More »
Avoiding Scams During Bankruptcy
You are in a delicate time in regards to your finances as you move through the process of bankruptcy. If you are considering bankruptcy or going through the process now, you may feel excited and relieved about having a fresh start with your finances and being able to get back on track after the… Read More »
Spending Compulsions and Bankruptcy
Oftentimes “retail therapy” is a way that people cope with stressful situations, by shopping excessively or without need. These unnecessary shopping trips can be harmless in many cases, however, over time can prove to be a serious financial challenge. Spending compulsions can lead to overwhelming debts, and ultimately the need to file Chapter 7… Read More »
Benefits of a Chapter 7 Bankruptcy
Filing for bankruptcy can feel overwhelming and terrifying. However, Chapter 7 bankruptcy provides many benefits that once known may calm your fears and provide some optimism for your financial situation. Understanding Chapter 7 Bankruptcy Chapter 7 bankruptcy allows a person to discharge most of their debts through a federal court process. While there are… Read More »
Where Do You File For Bankruptcy?
Many people do not know that bankruptcy is actually a Federal court action and not a state one. Therefore, state law does not apply in bankruptcy cases. Learning where and how to file for bankruptcy can help you feel better prepared when you make the final decision to create a new financial fresh start… Read More »
Reaffirmation of Debts and Bankruptcy
If you are going through the bankruptcy process, it is likely due to the fact you have a large amount of consumer debt. In many cases, creditors may attempt to ask you to sign reaffirmation agreements regarding the debt that you may owe them. Learn how signing these documents could create a legally binding… Read More »
Fighting the Misconception that Bankruptcy Is Only For Broke People
One of the biggest misconceptions associated with filing for bankruptcy is that a person must be completely broke with absolutely no money left in order to file for bankruptcy under the law. Along with this is another myth, that the court will take everything you own if you file for bankruptcy and leave you… Read More »
Student Loans and Declaring Bankruptcy
If you have attended any form of higher education, you are likely facing large debts due to student loans. Oftentimes, it takes people several decades to repay their student loan debt. As life happens, those same people may face other financial challenges such as business failures, divorces, or medical complications. These additional debts can… Read More »
