Category Archives: Chapter 7
Two banks to update their credit reporting
A debt discharge is one of the things a person can receive in a bankruptcy, like a Chapter 7 bankruptcy. Having a debt discharged through a bankruptcy can have several general benefits for a debtor. One is that such a discharge generally removes the person’s legal obligation to pay the debt. Another is that… Read More »
What things can disqualify a person from Chapter 7 bankruptcy?
There are some bankruptcy and debt relief options a given person who is facing difficulties with debt might not have access to. This is because some options have strict eligibility requirements attached to them. An example of this can be seen in Chapter 7 bankruptcy. There are several different things that could make a… Read More »
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 »
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 »
Rebuilding credit after Chapter 7 bankruptcy
Many people who have completed the Chapter 7 bankruptcy process understand that it is an effective form of debt relief. That being said, eliminating one’s financial history means that a person has to reestablish his or her credit rating and confidence in the eyes of lenders. There are several things that people can do… Read More »
Preventing personal bankruptcy begins at a young age
Parenting involves striking the fragile balance between teaching children effective life strategies and allowing them to make some mistakes in order to learn by experience. In fact, sometimes the most effective way to learn a lesson is to fail. Unfortunately, however, some mistakes are more difficult to bounce back from than others. The state… Read More »
Could student loans be dispelled through personal bankruptcy?
Millions of Americans are struggling with major financial issues, and unpaid student loan debt is a major part of the problem for many. Making the decision to attend a Florida university is often based at least partly on the prospect of improving one’s ultimate earning potential, but too many college graduates are learning the… Read More »
One man’s Chapter 7 didn’t tell whole story
The process of filing for bankruptcy can be long and complicated in some cases. In fact, anyone considering bankruptcy in Miami, Florida, is advised to first consult with an experienced bankruptcy law lawyer in order to determine whether Chapter 7 bankruptcy is the best option for them, as well as guarantee that the process… Read More »
Bankruptcy: the true cost of medical bills
For the countless Miami, Florida, residents contending with substantial medical-related debts, the gravity of the issue is well understood. In fact, it’s no surprise to many Americans that financial challenges stemming from unmanageable medical bills account for a huge percentage of Chapter 7 bankruptcy cases filed every year. That is why seeking the advice… Read More »
The truth about filing for bankruptcy
For many people living in Broward County, Florida, filing for bankruptcy implies negligence or failure to manage one’s personal finances correctly. Those that have faced serious financial challenges in recent years understand, however, that there are instances where Chapter 13 and Chapter 7 bankruptcy are the most effective and responsible options available to individuals… Read More »