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Monthly Archives: December 2019

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Insight on Bankruptcy from a Judge’s Perspective

By Nowack & Olson, PLLC |

Bankruptcy judges in the U.S. court system are appointed for 14 years. Most have spent decades working as bankruptcy lawyers before stepping up to the bench, so they have a unique perspective on bankruptcy issues. The recent Tampa Bay Times has an interview with Caryl E. Delano, who is currently serving as the chief… Read More »

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CreditCards

What Are Underappreciated Challenges of Reducing Credit Card Debt?

By Nowack & Olson, PLLC |

If you’ve ever read an article on reducing your debt, you might have whispered in amazement, “That sounds so easy!” Unfortunately, trying to chip away at credit card debt is more complicated and emotionally charged than most bloggers make it out to be. You might find your enthusiasm flagging and be tempted to start… Read More »

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What 5 Things Should You Know before Filing for Bankruptcy?

By Nowack & Olson, PLLC |

Filing for bankruptcy protection is a significant decision, and one our clients do not make lightly. As experienced attorneys, we make sure our clients fully understand what will happen in bankruptcy along with the alternatives. Below are 5 facts you should be aware of before filing your paperwork. Know Which Debts Will Get Discharged… Read More »

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Is Uber Headed Toward Bankruptcy?

By Nowack & Olson, PLLC |

Uber has revolutionized the way people get around cities. With the simple use of an app, a person can request a car to come immediately to their door, often for a fraction of the cost of what a taxicab would charge. Uber is also part of the growing “gig economy”—freelance jobs that people can… Read More »

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Credit

Common Credit Report Errors & Why They Matter

By Nowack & Olson, PLLC |

Having a clean credit report is the key to getting a job, renting an apartment, and securing a loan with a reasonable interest rate. Few people are aware of how important their credit report is. Unfortunately, many credit reports have errors on them, which not only pull down your overall credit score but can… Read More »

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Secretary DeVos Thinks It’s “Crazy” to Allow Student Loan Cancellation

By Nowack & Olson, PLLC |

Betsy DeVos is President Trump’s Secretary of Education, so her opinion carries a lot of weight within the Trump Administration. And no educational issue has garnered more attention over the past few years than the high amount of student loan debt that 44 million Americans are carrying. Some sources calculate the total amount of… Read More »

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Can You Reduce Income to Qualify for a Chapter 7 Bankruptcy?

By Nowack & Olson, PLLC |

Consumers generally have two bankruptcy options to choose from—Chapter 7 and Chapter 13. Each has different strengths and weaknesses, but a big plus of a Chapter 7 is speed. You can usually wipe out qualifying debts in a few months from start to finish. With a Chapter 13, by contrast, consumers must make monthly… Read More »

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BankFile

Does It Matter in What State I File for Bankruptcy?

By Nowack & Olson, PLLC |

Bankruptcy is federal law, and you can use it to discharge any debts that you have in the 50 states of the Union. Many people have homes in multiple states and move around, often for work. They call us up to ask whether it really matters in what state they file for bankruptcy. In… Read More »

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Coal Companies Filing for Bankruptcy in Record Numbers

By Nowack & Olson, PLLC |

When he ran for office, President Trump promised to protect the coal industry, which was crucial to his winning certain states, such as West Virginia. However, in spite of the economic expansion that has no end in sight, many coal companies are feeling financial stress and filing for bankruptcy. Forbes ran an interesting story… Read More »

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Questions to Ask a Credit Counselor

By Nowack & Olson, PLLC |

Credit counseling is sometimes an effective method of tackling debt, especially for those with relatively smaller debt loads. With this type of counseling, the debtor meets to discuss their current financial situation and develop a budget that will allow them to repay their debts in a sensible manner. As part of a debt management… Read More »

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