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Bankr30

How Is Detroit Doing after Filing for Bankruptcy?

By Nowack & Olson, PLLC |

Detroit’s bankruptcy filing in 2013 was a shot heard around the world. At the time, it was the largest municipal bankruptcy. The city exited bankruptcy protection 17 months later, in 2014, leaner and meaner and ready for a renaissance. How is the city doing a half decade after filing? A recent story in the… Read More »

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ElderPlan

Recovering from Bankruptcy as a Senior

By Nowack & Olson, PLLC |

As we have previously reported on our blog, more seniors than ever are filing for bankruptcy. Of course, a bankruptcy filing does not spell doom and gloom. However, it takes persistence and a detailed strategy to dig your way out and rebuild credit. An article in Barron’s recently tackled this issue. Below, we highlight… Read More »

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BusBankr

Signs a Commercial Tenant is Filing for Bankruptcy

By Nowack & Olson, PLLC |

Being a landlord is difficult, even if Florida. Our state has generous laws that make it difficult for landlords to evict tenants who do not follow the terms of their lease. One nightmare many landlords have is that their tenant will file for bankruptcy. Filing will allow the tenant to wipe out any unpaid… Read More »

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Marijuana

Marijuana Companies Face Financial Difficulties—And Bankruptcy is Not an Answer

By Nowack & Olson, PLLC |

For years, marijuana advocates have touted their industry as a sure-fire way to increase business taxes in any state that decriminalizes medicinal or even recreational use of their drug. However, a recent story in the Los Angeles Times has thrown cold water on these dreams: many pot companies are struggling. And the answer to… Read More »

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Bankr29

Debt Settlement Company Red Flags

By Nowack & Olson, PLLC |

Credit repair companies often advertise their services on the radio or television, and what they promise sounds almost too good to be true: for a small fee, they will somehow magically boost your credit score. In reality, these credit repair services are not doing much that you cannot do on your own. Even worse,… Read More »

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Bankr28

What Can You Do about Secured Debts?

By Nowack & Olson, PLLC |

Bankruptcy does an excellent job of wiping out certain unsecured debts, such as credit card debt, medical debt, and some personal loans. Unfortunately, bankruptcy can’t eliminate a secured loan, such as your home mortgage or a car loan. What options does a debtor have if they are struggling with this type of secured debt?… Read More »

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Bankruptcy14

Why Are So Many Nursing Homes Filing for Bankruptcy?

By Nowack & Olson, PLLC |

With the U.S. population aging, now seems like the perfect time for a boom in the nursing home and long-term care businesses. Nursing homes are not known for cost-cutting, and with large numbers of Americans needing care, nursing home balance sheets should be flush. In Florida, for example, a single room can cost around… Read More »

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BankrLaw2

Insight on Bankruptcy from a Judge’s Perspective

By Nowack & Olson, PLLC |

Bankruptcy judges in the U.S. court system are appointed for 14 years. Most have spent decades working as bankruptcy lawyers before stepping up to the bench, so they have a unique perspective on bankruptcy issues. The recent Tampa Bay Times has an interview with Caryl E. Delano, who is currently serving as the chief… Read More »

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CreditCards

What Are Underappreciated Challenges of Reducing Credit Card Debt?

By Nowack & Olson, PLLC |

If you’ve ever read an article on reducing your debt, you might have whispered in amazement, “That sounds so easy!” Unfortunately, trying to chip away at credit card debt is more complicated and emotionally charged than most bloggers make it out to be. You might find your enthusiasm flagging and be tempted to start… Read More »

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FileBank

What 5 Things Should You Know before Filing for Bankruptcy?

By Nowack & Olson, PLLC |

Filing for bankruptcy protection is a significant decision, and one our clients do not make lightly. As experienced attorneys, we make sure our clients fully understand what will happen in bankruptcy along with the alternatives. Below are 5 facts you should be aware of before filing your paperwork. Know Which Debts Will Get Discharged… Read More »

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