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How Much Is Your Cryptocurrency Worth?

By Nowack & Olson, PLLC |

We have written recently about the need to disclose all assets when filing for bankruptcy. Assets can include tangible personal property like cars and homes but also cash or investments. One investment that an increasing number of people own is Bitcoin. Some people use Bitcoin or other cryptocurrencies to make purchases, especially online. However,… Read More »

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ForecDef

What is Mortgage Forbearance? Should You Pursue It?

By Nowack & Olson, PLLC |

Sometimes, temporary financial difficulties make it hard to pay your mortgage. Because these difficulties are temporary, you might want to avoid selling your home. However, you need a temporary reprieve so that you do not fall behind on your mortgage and enter default. This is where mortgage forbearance comes in. With forbearance, you can… Read More »

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BankAtty

Avoid these 4 Debt Consolidation Mistakes

By Nowack & Olson, PLLC |

Debt consolidation is often a sensible technique for digging out from under a debt pile. The strategy involves rolling high-interest debts into one debt that has a lower interest rate. Because of the lower rate, monthly payments should be lower, which allows the debtor to get out of debt quicker. One common type of… Read More »

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MedicalBills

Fewer Americans Are Struggling to Pay their Medical Bills

By Nowack & Olson, PLLC |

There is no doubt that medical debt is a significant cost for Americans, even those with health insurance. According to a survey by the Kaiser Family Foundation, the average premium for a person with worker-provided health insurance was over $20,000, of which employers covered around 70%. Before even seeing a doctor, many Americans are… Read More »

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BankrLaw

Can Bankruptcy Help with Past-Due Child Support?

By Nowack & Olson, PLLC |

As we have explained many times, not all debts can be wiped out in bankruptcy. The bankruptcy code identifies certain debts that are “non-dischargeable,” and child support payments are one type. But does this mean bankruptcy is useless if you owe past-due child support, called “arrearages”? No, actually. Bankruptcy does provide some tangible benefits… Read More »

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GavelBooks

What to Do if a Creditor is Harassing You

By Nowack & Olson, PLLC |

Creditors have a legal right to repayment for the loans they make. What they don’t have is a license to harass their debtors. Unfortunately, creditor harassment is very real and can undermine your health, self-esteem, and quality of life. If you are on the receiving end of harassing conduct, we recommend that you follow… Read More »

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Tax1

Why Raiding Your IRA to Pay Off Debt is a Bad Idea

By Nowack & Olson, PLLC |

Living with debt can be extremely stressful. As experienced Plantation bankruptcy attorneys, we have heard clients describe sleepless nights as they mull over their debts. The fear of going bankrupt never really leaves them, and this stress is compounded by constant calls from debt collectors. Many people will do almost anything to get out… Read More »

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DebtTread

How to Get Off the Debt Treadmill

By Nowack & Olson, PLLC |

Have you ever felt like you were paying your debts month after month, but the principal never seems to go down? Are you broke at the end of each month but no closer to being debt free? If so, you are probably on the debt treadmill. The debt treadmill is a term to describe… Read More »

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Bank5

Florida Bankruptcy Statistics

By Nowack & Olson, PLLC |

Bankruptcy filings are often a good indication of the current health of the economy. When people lose jobs, they often rely on credit to get by and pay for essentials like food and transportation. After a while, however, all bills become due and the unemployed and others soon become insolvent. Bankruptcy is a sensible… Read More »

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What Assets Must You Disclose when You File for Bankruptcy?

By Nowack & Olson, PLLC |

A key part of any bankruptcy filing is the schedule of assets you submit to the court. These assets include anything you own or are entitled to receive when you file. Although a Chapter 13 bankruptcy protects assets from liquidation, the trustee can take assets in a Chapter 7 bankruptcy and sell them, unless… Read More »

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