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Monthly Archives: July 2019

Bankr18

These Billionaires Have All Gone Bankrupt

By Nowack & Olson, PLLC |

Business Insider has an interesting story on 10 billionaires who either went belly up or who declared bankruptcy. The story is a reminder that anyone can struggle financially. If you have suddenly run into financial difficulty, you shouldn’t be embarrassed. Instead, you should meet with a South Florida bankruptcy attorney as soon as possible… Read More »

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BankHouse

Will You Lose Investment Property in Bankruptcy?

By Nowack & Olson, PLLC |

Many Floridians own investment properties, such as apartment buildings or business complexes. Other people have an extra home that they purchased or inherited that they might rent to people. Are you at risk of losing these properties if you file for bankruptcy protection? The short answer is “yes.” You absolutely could lose investment property… Read More »

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Bankr27

Can You Negotiate with Creditors to Avoid Bankruptcy?

By Nowack & Olson, PLLC |

Many people will do almost anything to avoid filing for bankruptcy. They often fear taking a huge hit to their credit score and want to avoid the stigma that is attached with wiping out debts using a Chapter 7. As experienced Plantation bankruptcy attorneys, we think fears about bankruptcy are largely overblown. Nevertheless, it… Read More »

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CreditCards

What is the Apple Card?

By Nowack & Olson, PLLC |

Apple is probably best known for its computers and iPhone. Now comes news that Apple is entering the consumer credit market with the Apple Card, which could soon become available to consumers in summer 2019. But what is the Apple card? Should you try to get one? In this blog, we will give you… Read More »

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Budget

Good News on the Consumer Credit Front

By Nowack & Olson, PLLC |

Several stories have appeared recently suggesting that the U.S. economy is slipping into recession. First, there were reports that the “yield curve” had inverted, meaning that long-term bonds were paying out less than short-term bonds—a sign that investors anticipated a recession in the near future. Then the May 2019 jobs report showed a smaller-than-expected… Read More »

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Bankr26

New Income Limits for Chapter 7 Bankruptcy

By Nowack & Olson, PLLC |

Consumers who can’t repay their debts have their choice of 2 consumer bankruptcies—Chapter 7 and Chapter 13. They are named after specific chapters in the Bankruptcy Code and are very different. With a Chapter 7, you can wipe out unsecured debts, but you will probably lose non-exempt property. With a Chapter 13, you don’t… Read More »

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CellPhone

Will I Lose My Cell Phone if I File for Bankruptcy?

By Nowack & Olson, PLLC |

Many people realize that filing for bankruptcy comes with some strings. In particular, if you file for Chapter 7 bankruptcy, the trustee can sell your non-exempt property and send the proceeds to your creditor. But does this mean you will lose your cell phone? After all, it is an asset, and those are vulnerable… Read More »

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CashAdvance

Avoid Cash Advances

By Nowack & Olson, PLLC |

People are often pressed for cash. For example, you might need cash to pay a babysitter or to buy lunch. However, taking a cash advance is one of the worst things you can do financially. A cash advance is a loan you take on your credit card. Most cards allow for a cash advance… Read More »

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Bankr23

Health Crises Still Drive Many to Bankruptcy

By Nowack & Olson, PLLC |

An opinion column in USA Today reminds us that health care costs continue to send millions of Americans to bankruptcy. This might be surprising. After all, the rise of Obamacare and the expansion of Medicaid in many states should have put an end to the health care crisis in this country. But as columnist… Read More »

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Bank9

How to Tell Family and Friends about Your Bankruptcy

By Nowack & Olson, PLLC |

Bankruptcy is a public process in the United States. Not only are your court records public, but people can find out about your bankruptcy by doing a background check. Some newspapers also publish a list of the names of people who filed for bankruptcy in that jurisdiction. It’s unlikely that your friends and family… Read More »

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