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Monthly Archives: June 2019

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Florist FTD Files for Bankruptcy Protection

By Nowack & Olson, PLLC |

Founded over 100 years ago, florist FTD is probably best known for its commercials informing the public that they can ship flowers to loved ones on Mother’s Day or any other special occasion within 24 hours. FTD works by having a network of florists around the country who live near the intended recipient, thus… Read More »

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Lil Kim Asks Judge to Drop Her Bankruptcy Case

By Nowack & Olson, PLLC |

Almost a year ago we wrote about rapper Lil Kim filing for bankruptcy protection. Now comes news that she is trying to get her bankruptcy case dismissed because she is apparently in better financial shape. However, as Lil Kim might find, it is far easier to file for bankruptcy than to get a judge… Read More »

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Towanda Braxton Files for Bankruptcy with $150 in Her Bank Account

By Nowack & Olson, PLLC |

One of the stars of “Braxton Family Values” has filed for bankruptcy protection. According to Yahoo Entertainment, Towanda Braxton file for Chapter 7 bankruptcy protection earlier this month. Her court filings reveal that she has over half a million dollars in debt–$547,056.39 to be exact. Unfortunately, her assets only total about half that much,… Read More »

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Most Common Reasons People File for Bankruptcy

By Nowack & Olson, PLLC |

A common misperception is that people who file for bankruptcy do so because they have “blown” money for years and their spendthrift ways have finally caught up with them. Think ritzy trips to Vegas, gambling addictions, and expensive vehicles. However, the reality is far different. The Motley Fool published an excellent article recently reminding… Read More »

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Pot and Bankruptcy Don’t Mix

By Nowack & Olson, PLLC |

Florida continues to slowly embrace marijuana. It is currently legal to use marijuana if you have a prescription to treat a medical condition, and dispensaries are popping up across the state to fill those scripts. Currently, the state has not decriminalized the drug for recreational use, though that could be on the horizon. Indeed,… Read More »

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Bankr24

Is Bankruptcy the Right Choice for You?

By Nowack & Olson, PLLC |

Many people begin thinking about bankruptcy as an option only after they have accounts go into collection and it becomes blindingly apparent that they cannot service their debt load while paying other bills. When faced with the choice of paying off a credit card or going without food, most consumers realize that there is… Read More »

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Bankruptcy & Arbitration Agreements

By Nowack & Olson, PLLC |

If you have a contract, chances are you also have an arbitration agreement. Arbitration is an alternative dispute resolution technique (ADR, for short) that can keep you out of the courtroom. Instead, you will present your case behind closed doors to one or more arbitrators who act as judges. Many businesses like arbitration because… Read More »

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Teaching Young Children Financial Responsibility

By Nowack & Olson, PLLC |

One reason many people are hesitant to file for bankruptcy is that they fear setting a poor example for their children. They believe that bankruptcy is a way of running away from their financial problems, and they want their children to be better with money. First, filing for bankruptcy is actually a step to… Read More »

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Student Loans Have Become a Presidential Campaign Issue

By Nowack & Olson, PLLC |

With the 2020 election fast approaching, candidates are beginning to talk policy, and one issue that keeps popping up is student loans. Readers of our blog will not be surprised to learn that student loans dwarf nearly all other debt in the U.S. According to Student Loan Hero, 45 million Americans are carrying an… Read More »

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Bankr11

Should You Fear Bankruptcy?

By Nowack & Olson, PLLC |

As experienced South Florida bankruptcy lawyers, we are continually surprised by how afraid many of our clients were at the thought of filing for bankruptcy. Some of them admitted that they should have called us years ago but were too afraid to pick up the phone. Others stated that they would do almost anything… Read More »

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