Author Archives: Jay Butchko
Which Industries Are Most at Risk During the Coronavirus Pandemic?
If the stock market is any indication of the health of the economy, the United States is on the precipice of a major downturn. The recent coronavirus pandemic has led many state and local governments to impose restrictions on their residents and local businesses. Many people are sheltering in place and only going outside… Read More »
What is the True Cost of Filing for Bankruptcy?
Many of our clients come to us only after struggling to keep up with debt payments for years. Bankruptcy is rarely a first choice for anybody, and many only choose to file when it is obvious that they cannot continue to service their debt. What is the cost of filing for bankruptcy? Lending Tree… Read More »
Could You Lose Your Home Due to the Coronavirus Pandemic?
The coronavirus pandemic continues to rage across the United States. Compared to other places, South Florida has not had as many positive tests for the virus. However, we anticipate that many more are on the horizon. This virus seems relatively easy to transmit. In fact, some researchers believe that those with the novel coronavirus… Read More »
More Mistakes to Avoid Before Filing for Bankruptcy
The recent coronavirus pandemic has shuttered many businesses and created incredible financial stress. We have no idea when the pandemic will ease, but it could be months from now. Many indebted consumers are contacting us to discuss whether they should file for bankruptcy. This is definitely an individualized decision, and we are happy to… Read More »
How Much Is Your Cryptocurrency Worth?
We have written recently about the need to disclose all assets when filing for bankruptcy. Assets can include tangible personal property like cars and homes but also cash or investments. One investment that an increasing number of people own is Bitcoin. Some people use Bitcoin or other cryptocurrencies to make purchases, especially online. However,… Read More »
What is Mortgage Forbearance? Should You Pursue It?
Sometimes, temporary financial difficulties make it hard to pay your mortgage. Because these difficulties are temporary, you might want to avoid selling your home. However, you need a temporary reprieve so that you do not fall behind on your mortgage and enter default. This is where mortgage forbearance comes in. With forbearance, you can… Read More »
Avoid these 4 Debt Consolidation Mistakes
Debt consolidation is often a sensible technique for digging out from under a debt pile. The strategy involves rolling high-interest debts into one debt that has a lower interest rate. Because of the lower rate, monthly payments should be lower, which allows the debtor to get out of debt quicker. One common type of… Read More »
Fewer Americans Are Struggling to Pay their Medical Bills
There is no doubt that medical debt is a significant cost for Americans, even those with health insurance. According to a survey by the Kaiser Family Foundation, the average premium for a person with worker-provided health insurance was over $20,000, of which employers covered around 70%. Before even seeing a doctor, many Americans are… Read More »
Can Bankruptcy Help with Past-Due Child Support?
As we have explained many times, not all debts can be wiped out in bankruptcy. The bankruptcy code identifies certain debts that are “non-dischargeable,” and child support payments are one type. But does this mean bankruptcy is useless if you owe past-due child support, called “arrearages”? No, actually. Bankruptcy does provide some tangible benefits… Read More »
What to Do if a Creditor is Harassing You
Creditors have a legal right to repayment for the loans they make. What they don’t have is a license to harass their debtors. Unfortunately, creditor harassment is very real and can undermine your health, self-esteem, and quality of life. If you are on the receiving end of harassing conduct, we recommend that you follow… Read More »