Recent Blog Posts
What could endanger a Chapter 7 debt discharge?
Generally, when a person files for a Chapter 7 bankruptcy and meets the qualification requirements for this type of bankruptcy, one of the things they will receive in the bankruptcy is a discharge of debt. Now, this discharge may not apply to all of a person’s debts, as there are certain debts which generally… Read More »
When credit card debt outpaces savings
A recent study indicates that many Americans may be in a potentially precarious situation when it comes to their credit card debt as compared to their savings. In the study, released by Bankrate.com, a survey was conducted in which individuals were asked questions about credit card debt and emergency savings. Around 37 percent of… Read More »
When problems arise with a Chapter 13 repayment plan
Generally, in a Chapter 13 personal bankruptcy, a repayment plan is put in place. Once such a plan is established, it is important for the person who is in the Chapter 13 bankruptcy to know and understand the specific terms of the plan and to very closely follow them. Now, it is possible that… Read More »
Don’t let high debt endanger your retirement
As a person grows older, one thing they may become increasingly concerned about is their retirement. One of the big retirement questions that may run through a person’s head is: will I have enough retirement savings to have the type of retirement I want? No one wants to end up in a situation where… Read More »
Should all Florida high schoolers take a ‘Money Course’?
While bankruptcy can be a very useful debt relief tool, a person generally hopes that they will never end up in a financial situation that would cause them to need to avail themselves of this tool. There are many different things that can lead to a person being in bad financial situations like having… Read More »
The role of the bankruptcy trustee
We here at Nowack & Olson, P.L.L.C., understand that many people are discouraged from filing for Chapter 7 bankruptcy because they are uncomfortable with having their personal finances and financial difficulties scrutinized. You, like countless other Florida residents, may not be familiar with the role and/or duties of a Chapter 7 panel trustee. That… Read More »
Will I lose my home in bankruptcy?
Once Miami, Florida, residents are at the point of considering filing for personal bankruptcy they are often already facing the prospect of losing their home to unmanageable debt. If you are a homeowner who is currently weighing your debt relief options, it can be helpful to know what may happen to your house in… Read More »
Personal bankruptcy and credit card debt
Credit card debt is a major issue for countless people across the state of Florida and the entire country. And while filing for personal bankruptcy is one option that people often turn to for effective debt relief, it’s important that they understand if and how bankruptcy will address their credit card-related debts and difficulties…. Read More »
Chapter 13 bankruptcy considerations
Having served the residents of Florida for more than 15 years, we here at Nowack & Olson PLLC understand how difficult it can be to choose the most appropriate form of debt relief for your unique situation. Chapter 13 bankruptcy is known to be one effective personal bankruptcy option, and is distinguished from Chapter… Read More »
Are debt collectors really allowed to do that?
Being contacted by a debt collector can be an extremely disturbing experience, as it is often a sign that you are facing serious financial challenges. And while having any kind of contact with collection agencies can be uncomfortable, you as a consumer can actually find yourself subject to illegal collections practices. That is why… Read More »