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Nowack & Olson, PLLC
Fort Lauderdale 954-349-2265
Miami 305-698-2265
Palm Beach 561-463-2265

January 2015 Archives

What is the role of the Chapter 13 trustee?

Making the decision to file for bankruptcy when facing financial challenges can be very difficult for Florida residents. One challenge is to determine which type of bankruptcy is right for a particular situation. For those people who choose to file for a Chapter 13 bankruptcy, it can be important to understand how the plan trustee is involved and what they can expect along the way.

Do I qualify for Chapter 13 bankruptcy?

Before you can move forward with the personal bankruptcy process, you must first decide whether you should file for Chapter 7 or Chapter 13 bankruptcy. In order to qualify for Chapter 13 debt relief, you must meet several requirements. Provided below are some of the most common factors that are taken into consideration when determining if Chapter 13 is the right form of debt relief for you.

Bankruptcy-related tax considerations

Given that filing for personal bankruptcy can be a rather involved process, the attorneys at Nowack &Olson, P.L.L.C., understand why so many Florida residents are concerned about how bankruptcy could affect their taxes. If you have already or intend to file for bankruptcy, it may be helpful to keep a few key points in mind before you file your returns this tax season.

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