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Monthly Archives: March 2021

CarLot

Should You Redeem Your Repossessed Vehicle?

By Nowack & Olson, PLLC |

Having your car repossessed is embarrassing. It can also be incredibly inconvenient, especially if you need to drive to work or school. In Florida, anyone whose car has been repossessed has a right to redeem the vehicle. However, this might not be the best option for you, so we encourage that you meet with… Read More »

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MoneyGavel

Junior Mortgages & Chapter 13 Bankruptcy

By Nowack & Olson, PLLC |

As a rule, you cannot get rid of a mortgage on your home by using bankruptcy. Secured loans are different from unsecured debts like credit cards and personal loans because the security interest cannot be wiped out. However, when it comes to second or junior mortgages, then the rule is not so clear cut…. Read More »

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MortgPaym2

Options if You Are Behind on Your Mortgage

By Nowack & Olson, PLLC |

According to best estimates, millions of Americans are behind on their mortgages or on the verge of defaulting. Losing a home is devastating, not only emotionally but also financially. For example, research has shown that losing a home to foreclosure often leads to defaulting on other loans and relocation to less safe neighborhoods. Fortunately,… Read More »

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BankrLaw

Was Your Gift a Fraudulent Transfer?

By Nowack & Olson, PLLC |

At the heart of Chapter 7 bankruptcy is a tradeoff: the debtor gets certain debts eliminated but, in exchange, must turn over any property that they can’t exempt. Some debtors, however, don’t like this tradeoff. Instead, they want to wipe out debts while preserving all their assets. This desire leads some of them to… Read More »

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Bank12

Will the Trustee “Abandon” Estate Assets?

By Nowack & Olson, PLLC |

In most Chapter 7 cases, our clients can exempt all of their assets. However, in a minority of situations, our clients have assets that the trustee can liquidate to satisfy some of the creditors’ claims. The trustee has discretion about whether to liquidate non-exempt assets. If not, the trustee can “abandon” the property. But… Read More »

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CreditCards2

Has Credit Card Fraud Increased during COVID Pandemic?

By Nowack & Olson, PLLC |

Credit card fraud is a perennial problem, which is why the credit fraud and identity theft detection market has grown so large over the past decade. In 2021, the market for these services stands at roughly $3.2 billion. Nevertheless, many unsuspecting people continue to fall victim to credit card fraud. The coronavirus pandemic has… Read More »

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WorkStress

Will Your Boss Find out about Your Bankruptcy?

By Nowack & Olson, PLLC |

Most Florida employers run a background check on job applicants, and any bankruptcy you file will show up for years afterwards. But what if you are already employed? Will your boss find out about the bankruptcy, and can you be fired? Our Plantation bankruptcy lawyer reviews when and why your employer will find out…. Read More »

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Bank13

Biden Extends Eviction Moratorium & Student Loan Forbearance

By Nowack & Olson, PLLC |

There is good news from Washington, D.C. President Biden has signed executive orders that continue the eviction moratorium first put in place by President Trump. Biden is also continuing the forbearance of student loans, which should help many people who still cannot find work. According to Fox News, Biden signed the executive orders on… Read More »

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BankLegal

Do You Need to Appear in Court for Bankruptcy?

By Nowack & Olson, PLLC |

People express all kinds of fears about bankruptcy, from how it will impact their credit to their ability to get a job. Some people are also terrified of going to court. Maybe they had a bad experience in a minor criminal case, or they suffered through jury duty and the sight of a judge… Read More »

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Debt7

How Does Bankruptcy Affect Foreign Debt?

By Nowack & Olson, PLLC |

We have written before about how bankruptcy affects assets you hold overseas. Now we want to talk about a related issue—your foreign debt. South Florida is home to many foreign nationals and people who travel regularly. It is not unusual for many of these folks to come to our offices with foreign debts that… Read More »

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