Author Archives: Jay Butchko
Bankruptcies are Increasing in Florida
Nestled inside a thoughtful Tampa Bay Times article is news that bankruptcies have begun to rise in Florida again. According to the article, filings have jumped 11% in the past year, although the rate has risen much more slowly in the rest of the country (only 1%). Usually, increases in the bankruptcy rate follow… Read More »
Can You Lose Your IRA in a Bankruptcy?
A Chapter 7 bankruptcy involves a trade-off: you wipe out qualifying unsecured debts and any property you have gets sold to partially pay your creditors. Florida, like other states, allow debtor to exempt certain property, including an Individual Retirement Account (IRA), so you don’t lose everything. However, a recent court case shows that a… Read More »
Will You Lose Your Wedding Ring if You File for Bankruptcy?
The popular HBO show “Big Little Lies” had an interesting bankruptcy-related story line. Renata Klein and her husband filed for bankruptcy after her husband was arrested for securities fraud. However, when Renata filled out her paperwork, she did not list her family’s vehicle or her wedding ring. Of course, a debtor must list all… Read More »
Debtors Explain Why They Filed for Bankruptcy
The website Fast Company had an interesting story published recently. The reporter spoke to three people who had filed for consumer bankruptcy to better understand why they filed and whether they regretted it. As experienced Plantation bankruptcy attorneys, we have helped tens of thousands of consumers get a fresh financial start, and the stories… Read More »
Central District Bankruptcy Court Creates Program to Help Student Loan Borrowers
Student loan debt is a serious problem in the country at large and in Florida in particular. According to recent statistics, about 43 million people have student loans totaling $1.4 trillion. In Florida, 2.4 million people are carrying $85.5 billion in student loan debt. And the student loan overhang affects more than millennials. Millions… Read More »
Protect Yourself from Credit Card Fraud
According to Experian, credit card fraud is the most common type of identity theft. Armed with your credit card number (or the card itself), a fraudster can rack up thousands of dollars in unauthorized purchases, which can leave you with a hefty bill to pay. Trying to clean up identity theft is complicated, and… Read More »
These Billionaires Have All Gone Bankrupt
Business Insider has an interesting story on 10 billionaires who either went belly up or who declared bankruptcy. The story is a reminder that anyone can struggle financially. If you have suddenly run into financial difficulty, you shouldn’t be embarrassed. Instead, you should meet with a South Florida bankruptcy attorney as soon as possible… Read More »
Will You Lose Investment Property in Bankruptcy?
Many Floridians own investment properties, such as apartment buildings or business complexes. Other people have an extra home that they purchased or inherited that they might rent to people. Are you at risk of losing these properties if you file for bankruptcy protection? The short answer is “yes.” You absolutely could lose investment property… Read More »
Can You Negotiate with Creditors to Avoid Bankruptcy?
Many people will do almost anything to avoid filing for bankruptcy. They often fear taking a huge hit to their credit score and want to avoid the stigma that is attached with wiping out debts using a Chapter 7. As experienced Plantation bankruptcy attorneys, we think fears about bankruptcy are largely overblown. Nevertheless, it… Read More »
What is the Apple Card?
Apple is probably best known for its computers and iPhone. Now comes news that Apple is entering the consumer credit market with the Apple Card, which could soon become available to consumers in summer 2019. But what is the Apple card? Should you try to get one? In this blog, we will give you… Read More »