Recent Blog Posts
Should You File for Bankruptcy because of Hurricane Damage?
The 2018 hurricane season has been very destructive in Florida. In early May, tropical storm Alberto struck northern Florida, leaving a trail of destruction. Hurricane Florence, in September, skirted past Florida, but its high tides caused damage along the state’s coast and killed a couple people. And in early October, Hurricane Michael struck the… Read More »
Chapter 7 Bankruptcy & Your Inheritance
As a leading South Florida bankruptcy law firm, we meet with countless clients to discuss whether they should file for bankruptcy. Unlike other firms, we don’t do a “hard sell” and try to talk everyone we meet into filing. Instead, we talk intelligently with them about their goals and situation to better figure out… Read More »
Retirement and Bankruptcy
Most Americans envision their retirement as a peaceful time to enjoy family, friends, and hobbies. Unfortunately, for many Americans, retirement is a time of enormous financial stress. Not only does your income typically plunge, but medical expenses can also skyrocket. At this time of life, you might find yourself more financially distressed than at… Read More »
A Bankruptcy Isn’t the End of Your Business Dreams
It’s hard to see bankruptcy as anything but a failure. Most people are able to pay their bills, but here you are, completely swamped. The only light at the end of the tunnel is bankruptcy to help you gain some breathing room. Many people naturally wonder if they will ever find financial success. Forbes… Read More »
You Should Discuss Your Finances Before Saying “I Do”
When you get married, you agree to take your spouse “for richer or poorer,” as well as in sickness and in health. Unfortunately, some newlyweds are in for a nasty surprise when they discover that their newly-minted spouse has terrible credit—and possibly far worse. To avoid any unpleasant discoveries, you should have an honest… Read More »
What to Look for in a Credit Counselor
Many indebted consumers try credit counseling in an attempt to get on top of their debt. Although credit counseling is not a silver bullet, it can sometimes help consumers who need a little bit of time to whittle away at their financial obligations But not all credit counselors are the same. In fact, there… Read More »
How to Keep Medical Debt from Affecting Your Credit Score
The United States is still a long way off from providing health care for all of its citizens. Even if you have health insurance, you might have a sky-high deductible or a very-low reimbursement rate. It is not unusual for even insured people to have tens of thousands of dollars in medical bills, and… Read More »
Consumer Credit Grew in August
According to a recent Federal Reserve report, consumer credit grew in August 2018 at the fastest pace in several months. Consumers added $20.1 billion in credit in August, bringing their total to $3.94 trillion. This represented a 6.2% growth rate. Non-Revolving Credit Grows the Most According to the report, nonrevolving credit grew by 6.4%…. Read More »
Foreclosure Myths
The housing market has recovered over the past few years, but thousands of homeowners still struggle to pay their mortgage each month. When homeowners cannot make payments, the bank might start the foreclosure process. At Nowack & Olson, we have heard some pretty inaccurate information about the home foreclosure process, so we bust some… Read More »
What to Do after a Car Repossession
Car repossessions rarely strike like a bolt out of the blue. After all, you must know that you have been missing payments. Nevertheless, finding out that your lender has repossessed your car is certainly a shocking experience. Car repossessions occur when borrowers do not pay their car loans. Because the loan is backed by… Read More »