Author Archives: Jay Butchko
Debt Settlement Company Red Flags
Credit repair companies often advertise their services on the radio or television, and what they promise sounds almost too good to be true: for a small fee, they will somehow magically boost your credit score. In reality, these credit repair services are not doing much that you cannot do on your own. Even worse,… Read More »
What Can You Do about Secured Debts?
Bankruptcy does an excellent job of wiping out certain unsecured debts, such as credit card debt, medical debt, and some personal loans. Unfortunately, bankruptcy can’t eliminate a secured loan, such as your home mortgage or a car loan. What options does a debtor have if they are struggling with this type of secured debt?… Read More »
Why Are So Many Nursing Homes Filing for Bankruptcy?
With the U.S. population aging, now seems like the perfect time for a boom in the nursing home and long-term care businesses. Nursing homes are not known for cost-cutting, and with large numbers of Americans needing care, nursing home balance sheets should be flush. In Florida, for example, a single room can cost around… Read More »
Insight on Bankruptcy from a Judge’s Perspective
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 »
What Are Underappreciated Challenges of Reducing Credit Card Debt?
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 »
What 5 Things Should You Know before Filing for Bankruptcy?
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 »
Is Uber Headed Toward Bankruptcy?
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 »
Common Credit Report Errors & Why They Matter
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 »
Secretary DeVos Thinks It’s “Crazy” to Allow Student Loan Cancellation
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 »
Can You Reduce Income to Qualify for a Chapter 7 Bankruptcy?
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 »