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Credit

How a Bad Credit Score Affects Your Future

By Nowack & Olson, PLLC |

Very few Americans even know what their credit score is. This three-digit score typically ranges from 200-850 and is used by lenders to determine whether to extend a loan and what interest rate to charge. A good credit score is a terrific asset and shows you are a good credit risk. But a poor… Read More »

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Too Broke for Bankruptcy?

By Nowack & Olson, PLLC |

It might sound counterintuitive, but some people are actually too broke to file for bankruptcy. The reason? They can’t afford the filing fee for a Chapter 7 bankruptcy. Also, they might not be able to afford the fees for an attorney. One option is to file for Chapter 13 bankruptcy protection, which will allow… Read More »

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Interesting Bankruptcy Case Heads to the Supreme Court

By Nowack & Olson, PLLC |

The United States Supreme Court does not hear very many bankruptcy cases. However, a new case is slated for oral argument on April 24th and deals with an interesting aspect of the law. In particular, the court will need to consider what happens when a debt is discharged but a creditor nevertheless tries to… Read More »

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Can a Non-Profit File for Bankruptcy?

By Nowack & Olson, PLLC |

A headline out of Wisconsin caught our attention recently. A nonprofit, UNISON, filed for Chapter 7 bankruptcy protection earlier this month. UNISON ran senior centers and worked with young families in the Milwaukee area but ran into financial problems after the CEO embezzled funds from the corporation. The non-profit reported that it had between… Read More »

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How Long will a Bankruptcy Hurt Your Credit Score?

By Nowack & Olson, PLLC |

One of the prime reasons people do not file for bankruptcy is that they want to avoid hurting their credit score. As we often remind clients, these concerns are misplaced. Chances are, if you already have accounts in collections or if you have missed multiple payments already, your credit score is probably much lower… Read More »

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American Chopper Star Imperils His Bankruptcy

By Nowack & Olson, PLLC |

Fox News reports that Paul Teutul, the star of American Chopper, might have his bankruptcy case dismissed by the trustee. According to court documents filed in mid-April, Teutul allegedly has not supplied the trustee with certain requested documents, and, as a result, could lose bankruptcy protection and be denied a discharge of his debts…. Read More »

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Credit Card Fraud is Declining

By Nowack & Olson, PLLC |

New research has shown a helpful decline in credit card fraud. According to a report discussed in Forbes magazine, fraud dropped to $6.4 billion in 2018, down from $8.1 billion in 2017. The numbers were compiled by Javelin Strategy & Research. These numbers might not mean much to consumers, since banks end up eating… Read More »

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Credit

House Democrats Look to Ban Use of Credit Score when Setting Car Insurance Rates

By Nowack & Olson, PLLC |

Your credit score matters, particularly when you try to get a loan. Those with the best credit scores tend to qualify for the lowest interest rates. If your score is weak, then your interest rate will be higher, and you will ultimately pay much more over the life of the loan. Your credit score… Read More »

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What’s Going on with Michael Avenatti’s Law Firm Bankruptcy?

By Nowack & Olson, PLLC |

You probably have seen Michael Avenatti if you’ve ever watched CNN cable news. The passionate critic of President Trump made a name for himself by representing porn star Stormy Daniels in a lawsuit against the President. He also routinely alleged that Trump would be impeached. Whether you like the President or not, it was… Read More »

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The Disturbing Final Days for Retailer Gymboree

By Nowack & Olson, PLLC |

Business bankruptcies are sometimes hectic. As experienced attorneys who have helped many small businesses file for bankruptcy protection, we enjoy media stories that pull back the curtain on the final days before a large company heads to bankruptcy court to file their petition. The recent story in The Intercept about retailer Gymboree caught our… Read More »

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