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Monthly Archives: February 2020

BankruptMoney

More Retailers File for Bankruptcy Twice

By Nowack & Olson, PLLC |

When a business files for bankruptcy twice, a question naturally arises: did the company simply not learn any lessons from the first go-around or are there serious problems in the industry? CNBC has an interesting article on retailers that have filed for bankruptcy protection twice in the past decade. The retail industry has struggled… Read More »

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Can I Keep My Personal Injury Settlement if I File for Bankruptcy?

By Nowack & Olson, PLLC |

After a devastating car accident or slip and fall, many victims negotiate a settlement to help compensate them for medical bills, lost income, and pain and suffering. These settlements often provide crucial support to injured victims, allowing them to keep the lights on as they try to recover and return to work. But what… Read More »

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CarRepo

How NOT to Fight a Vehicle Repossession

By Nowack & Olson, PLLC |

When signing a car loan, debtors are giving their creditor the right to repossess the vehicle in the event they default. And creditors take full advantage of that right. They will send a “repo man” out to your home to take possession of a vehicle and haul it away even before you have had… Read More »

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What Is a “No Asset” Bankruptcy Case and Do You Qualify?

By Nowack & Olson, PLLC |

Put simply, a “no asset” bankruptcy is a Chapter 7 bankruptcy in which the debtor has no non-exempt property for the trustee to seize and distribute to creditors. No asset cases go by very quickly because the trustee doesn’t have to get any assets appraised or arrange a sale, which can drag an otherwise… Read More »

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TaxPrep

Can You Keep a Tax Refund in Bankruptcy?

By Nowack & Olson, PLLC |

With the new year, many people are beginning to think about their income taxes for 2019. For millions of workers, filing by April 15 will result in a tax refund, usually because they contributed more in withholding taxes than they needed or because they can claim exemptions. If you are planning to file for… Read More »

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4 Reasons Not to Delay Your Bankruptcy Filing—and One Situation where It Makes Sense

By Nowack & Olson, PLLC |

Far too many people struggle for years with mountains of debt, living under constant stress and not getting ahead financially. In truth, many debtors wait far too long before filing for bankruptcy and would have been better off had they filed sooner. As seasoned Plantation bankruptcy attorneys, we encourage distressed debtors to meet with… Read More »

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Bankruptcy_money

Has the World Binged on Debt?

By Nowack & Olson, PLLC |

Debt is not entirely bad. In fact, it allows people to accomplish all sorts of goals. Imagine if you could not buy a house until you had saved the entire purchase price. Many people would never be able to own a home because they would be spending all of their money on rent. Nevertheless,… Read More »

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New York Judge Discharges $220,000 in Student Loans

By Nowack & Olson, PLLC |

From the Wall Street Journal comes a heartening story. A federal bankruptcy judge in Poughkeepsie, New York has approved the discharge of almost a quarter million dollars in student loans in a Chapter 7 bankruptcy. The judge did so even though she did not find that the debtor was unemployable or disabled, which are… Read More »

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