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What is a Chapter 11 Bankruptcy?

By Nowack & Olson, PLLC |

Federal bankruptcy law provides for different bankruptcies, which are identified by their chapter in the code. A Chapter 11 is an unusual bankruptcy for consumers, the vast majority of whom will choose either a Chapter 7 or a Chapter 13. However, a Chapter 11 bankruptcy makes sense for some of our clients who have… Read More »

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Five Surprising Benefits of Filing for Bankruptcy

By Nowack & Olson, PLLC |

Many people understand that bankruptcy is an effective way of wiping out certain unsecured debts like credit card or medical debt. But bankruptcy also has many benefits you might never have heard of. Some of the more surprising benefits include the following. You Change the Payment Terms on Your Car Loan Many debtors are… Read More »

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Bankruptcy and Your Tax Refund

By Nowack & Olson, PLLC |

Now that the tax filing deadline has come and gone, you might be expecting a refund on your taxes. However, if you are planning to file for bankruptcy any time soon, you need to understand how filing will affect your tax return. In certain situations, consumers might choose to file a different bankruptcy or… Read More »

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Bankruptcy and Supplemental Security Income

By Nowack & Olson, PLLC |

Many of our clients are just getting by, unable to work because of a disability. Some of these clients receive Supplemental Security Income, or “SSI,” from the federal government. Each week, we field questions from clients who are worried that they will put their SSI benefits at risk if they file for bankruptcy. Read… Read More »

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Yes, Medical Debts Cause Bankruptcies

By Nowack & Olson, PLLC |

A recent article in Forbes tries to underplay how high medical expenses drive many consumers to bankruptcy. Titled “Exposing the Myth of Widespread Medical Bankruptcy,” this article simply reaffirms that many consumers struggle with debts caused by medical crises. At Nowack & Olson, we meet with clients every day who have suddenly fallen behind… Read More »

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Fewer Florida Consumers filing for Bankruptcy in 2018

By Nowack & Olson, PLLC |

Recent statistics from the American Bankruptcy Institute are good news-bad news for Florida residents. The good news? Consumer bankruptcy filings are 8% lower in March 2018 than they were in 2017, suggesting that the strengthening economy has allowed consumers to manage their debt. The bad news? Filings in March were up 31% over February…. Read More »

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Questions to Ask a Bankruptcy Attorney

By Nowack & Olson, PLLC |

Before hiring a bankruptcy attorney, you should schedule a consultation with the law firm. The purpose of this consultation is to give you a chance to ask any questions you have and for the lawyer to better understand your situation. At Nowack & Olson, we are happy to offer all potential clients a free… Read More »

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Yes, Bankruptcies Are Public

By Nowack & Olson, PLLC |

Bankruptcy still carries a stigma. Apart from the fact that your credit report will go into freefall, many consumers fear bankruptcy because they do not want anyone else to know about it. Nevertheless, these fears are usually overblown. Although bankruptcy records are public, few people will be searching for them. Furthermore, there is no… Read More »

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Senior Citizens and Bankruptcy—Should You File?

By Nowack & Olson, PLLC |

As bankruptcy lawyers in Southern Florida, we meet our fair share of senior citizens who are struggling with debt. Sometimes the debt is medical debt or credit card debt, with credit cards often used to pay for medical expenses. Regardless of how they accumulated debt, these clients want to know whether they should file… Read More »

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Help! My Bankruptcy Has Not Fallen off my Credit Report!

By Nowack & Olson, PLLC |

After filing for bankruptcy, you probably watched your credit score nosedive as soon as it was reported to the credit reporting agencies. Over the past several years, you have patiently waited for it to fall off. But what happens if your bankruptcy stubbornly remains on your credit report? Read on for tips on how… Read More »

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