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Category Archives: Bankruptcy

Budget

Good News on the Consumer Credit Front

By Nowack & Olson, PLLC |

Several stories have appeared recently suggesting that the U.S. economy is slipping into recession. First, there were reports that the “yield curve” had inverted, meaning that long-term bonds were paying out less than short-term bonds—a sign that investors anticipated a recession in the near future. Then the May 2019 jobs report showed a smaller-than-expected… Read More »

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CashAdvance

Avoid Cash Advances

By Nowack & Olson, PLLC |

People are often pressed for cash. For example, you might need cash to pay a babysitter or to buy lunch. However, taking a cash advance is one of the worst things you can do financially. A cash advance is a loan you take on your credit card. Most cards allow for a cash advance… Read More »

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Marijuana

Pot and Bankruptcy Don’t Mix

By Nowack & Olson, PLLC |

Florida continues to slowly embrace marijuana. It is currently legal to use marijuana if you have a prescription to treat a medical condition, and dispensaries are popping up across the state to fill those scripts. Currently, the state has not decriminalized the drug for recreational use, though that could be on the horizon. Indeed,… Read More »

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Bankr24

Is Bankruptcy the Right Choice for You?

By Nowack & Olson, PLLC |

Many people begin thinking about bankruptcy as an option only after they have accounts go into collection and it becomes blindingly apparent that they cannot service their debt load while paying other bills. When faced with the choice of paying off a credit card or going without food, most consumers realize that there is… Read More »

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Arbitration2

Bankruptcy & Arbitration Agreements

By Nowack & Olson, PLLC |

If you have a contract, chances are you also have an arbitration agreement. Arbitration is an alternative dispute resolution technique (ADR, for short) that can keep you out of the courtroom. Instead, you will present your case behind closed doors to one or more arbitrators who act as judges. Many businesses like arbitration because… Read More »

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MoneyGavel

Teaching Young Children Financial Responsibility

By Nowack & Olson, PLLC |

One reason many people are hesitant to file for bankruptcy is that they fear setting a poor example for their children. They believe that bankruptcy is a way of running away from their financial problems, and they want their children to be better with money. First, filing for bankruptcy is actually a step to… Read More »

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StudentD2

Student Loans Have Become a Presidential Campaign Issue

By Nowack & Olson, PLLC |

With the 2020 election fast approaching, candidates are beginning to talk policy, and one issue that keeps popping up is student loans. Readers of our blog will not be surprised to learn that student loans dwarf nearly all other debt in the U.S. According to Student Loan Hero, 45 million Americans are carrying an… Read More »

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Bankr11

Should You Fear Bankruptcy?

By Nowack & Olson, PLLC |

As experienced South Florida bankruptcy lawyers, we are continually surprised by how afraid many of our clients were at the thought of filing for bankruptcy. Some of them admitted that they should have called us years ago but were too afraid to pick up the phone. Others stated that they would do almost anything… Read More »

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BankrRetire

Are You Too Old to File for Bankruptcy?

By Nowack & Olson, PLLC |

MSN has an interesting article centered on the question, “Are you too old to file for bankruptcy?” Many of our clients are seniors who wonder whether they should go through the hassle of filing for bankruptcy when they don’t have many more years left. Although the MSN article raises important considerations, we must add… Read More »

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Bankruptcy15

New Bill to Limit Credit Card Interest Rates

By Nowack & Olson, PLLC |

Four Democratic Party senators have introduced a bill in Congress that would limit how much interest credit card companies can charge. According to Payments Journal, the Senators want to prohibit credit card companies from charging more than the maximum interest allowed in the state where a cardholder lives. Current Law Most states have usury… Read More »

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