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Can You Be Arrested for Failing to Pay Debt?

By Nowack & Olson, PLLC |

Once upon a time, debtors would get sent to prison for failing to pay a debt. The famed English novelist Charles Dickens’ own father was sent to debtor’s prison when Dickens was a boy. In the United States, we have done away with debtor’s prison, which means that you will not be sent to… Read More »

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TaxLiab

Protecting a Loan Cosigner in Bankruptcy

By Nowack & Olson, PLLC |

People with poor or no credit often need someone else to cosign on a loan. Legally, this means the cosigner is responsible for paying any debt that is unpaid. If your mother cosigns your car loan, she’s on the hook should you default on payments. Many of our clients have cosigners on loans and… Read More »

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CreditCards

Can You Negotiate Debt with a Credit Card Company?

By Nowack & Olson, PLLC |

According to The Balance, the average Floridian carries over $8,000 in credit card debt. With high interest rates, this debt can become unsustainable. Many people would like to negotiate with their credit card company. But is that possible? The answer is a big “maybe.” Credit card companies differ in their willingness to negotiate with… Read More »

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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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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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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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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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