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Giant Retailer J.C. Penney Files for Bankruptcy

By Nowack & Olson, PLLC |

J.C. Penney is the latest retailer to file for Chapter 11 bankruptcy protection. According to USA Today, the retailer expects to close almost 30% of its stores as it tries to emerge leaner and more competitive. In all, about 242 stores should close in the next fiscal year, leaving Penney’s with a little over… Read More »

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Bankr26

5 Things to Know Before Filing for Bankruptcy

By Nowack & Olson, PLLC |

Filing for bankruptcy is an option many people dread. However, for many consumers it is the most sensible option. Filing for bankruptcy protection grants a consumer immediate protection from any collection actions, such as lawsuits on unpaid debts or eviction actions. Depending on the bankruptcy you file, you might also be able to eliminate… Read More »

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YoungAdult

How Is Congress Helping Student Loan Borrowers?

By Nowack & Olson, PLLC |

It is no secret that student loan debt is a serious drag for many Americans, including those who are middle aged. Collectively, Americans owe almost $2 trillion in student loan debt, and many are paying huge sums each year to cover only interest. The recent COVID-19 pandemic has wiped out income for many of… Read More »

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SaveMoney

Saving Money in these Challenging Times

By Nowack & Olson, PLLC |

This is a difficult time financially for many people in South Florida. People have not only lost jobs but have no idea when they will find another. Even those who have had their hours reduced do not know if they will ever return to full-time employment. With finances tight, saving money is at a… Read More »

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UsedCarLot

Want to Buy a Used Car? Contact Hertz

By Nowack & Olson, PLLC |

Hertz rental car company recently filed for bankruptcy protection, and the decision has had an unusual effect: the market for used cars is being flooded with inventory. Now is a great time for those in the market for a used vehicle to check whether they can buy one from Hertz at a cheap price…. Read More »

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Bankr25

Can States File for Bankruptcy?

By Nowack & Olson, PLLC |

This might be surprising to hear, but states cannot file for bankruptcy. Bankruptcy is a creature of federal law, and the code must authorize an entity to file before it can. There are laws that allow individuals and businesses to file, as well as cities and municipalities. However, there is no law that currently… Read More »

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Eviction6

Can You Use Bankruptcy to Delay an Eviction?

By Nowack & Olson, PLLC |

To help renters during the COVID-19 pandemic, Governor DeSantis suspended evictions based on non-payment until July 1. But that suspension will soon come to an end, what can tenants do if they are still unable to pay their rent? This has been a difficult time financially for many people, and not all jobs have… Read More »

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Bank8

Having Trouble Sticking with Your Chapter 13 Payment Plan?

By Nowack & Olson, PLLC |

Chapter 13 is the second-most popular bankruptcy for consumers in Florida. However, it is also difficult to complete, requiring that debtors stick with a payment plan that lasts three to five years. With the economy in a tailspin due to the coronavirus pandemic, many people have lost their jobs. Unfortunately, those experiencing reduced hours… Read More »

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Bank7

What Industry is Struggling (Surprisingly) During the Pandemic? Health Care

By Nowack & Olson, PLLC |

It may sound counterintuitive, but the recent lockdown to protect the public from the novel coronavirus is disrupting one of the largest industries in the nation: health care. According to the Becker’s Hospital Review, over 150 hospitals have furloughed workers as of April 21 due to low numbers of patients, and we expect more… Read More »

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Bank6

Common Bankruptcy Questions

By Nowack & Olson, PLLC |

As a leading bankruptcy firm in South Florida, we regularly field questions from members of the public. The ongoing coronavirus pandemic has certainly strained the resources of many people, and we have seen an uptick in people contacting us. Below, we highlight some of the most common questions we have received. I Lost My… Read More »

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