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Tag Archives: Chapter 7

Will I lose my property if I file for Chapter 7 bankruptcy?

By Nowack & Olson, PLLC |

The decision to file for bankruptcy is not an easy one to make. Even when dealing with overwhelming debt, there are many reasons why you may be hesitant to take this step. What will filing for bankruptcy mean for my life? One reason for avoiding bankruptcy is the fear of losing personal property. However,… Read More »

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Give debt the old heave ho with a Chapter 7 bankruptcy filing

By Nowack & Olson, PLLC |

If you are one of the many Florida residents drowning in debt, and you lack the funds to get on top of it, you may be sitting in front of your computer looking for relief options right now. You’ve probably seen advertisements for debt consolidation, payday loans, lines of credit and various other band-aid… Read More »

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What are the differences between Chapter 7 and Chapter 13 bankruptcy?

By Nowack & Olson, PLLC |

What are the differences between Chapter 7 and Chapter 13 bankruptcy? Many people who are facing foreclosure seek bankruptcy protection as a way to save their homes. For some people, however, knowing which chapter to choose can be confusing. By taking the time to understand the basic differences between Chapter 7 and Chapter 13,… Read More »

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Baby boomers shouldering more and more bad debt

By Nowack & Olson, PLLC |

Bankruptcy can happen to anyone. Regardless of your age or financial standing, a sudden injury or illness can quickly deplete hard-earned resources. Often referred to as a fresh start, a Chapter 7 or Chapter 13 filing represents a financial “do-over” for those feeling the crushing weight of money problems beyond their control. Baby boomers… Read More »

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What is an ‘undue hardship’?

By Nowack & Olson, PLLC |

Filing for Chapter 7 bankruptcy protection is a decision many people make when they are in critical need of debt relief. While it is an aggressive solution, it is one that can be quite effective. When a person files Chapter 7, they can have a significant amount of their debt discharged. However, not all… Read More »

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Not all debts are discharged by bankruptcy

By Nowack & Olson, PLLC |

Throughout Florida, many people have various debts to keep on top of, gradually paying them down. However, it is all too easy for those debts to get out of hand and before you know it, you may not be earning enough to keep up with your repayments. If this happens, you may then have… Read More »

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Repairing your credit rating requires a solid plan

By Nowack & Olson, PLLC |

Many residents of Florida go through difficult financial times at some point in their lives. Once debts begin to pile up, things can quickly spiral out of control, with interest rates soaring and creditors soon hot on your heels. Before you know it, you could find yourself being hounded by debt collectors and wondering… Read More »

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Can Chapter 7 eliminate tax debt?

By Nowack & Olson, PLLC |

It can be highly distressing to fall into debt, particularly when there is no clear way out of the situation. Interest rates often mean that once your debt gets out of hand, it can be extremely challenging to cover the cost of repayment while still managing your basic living expenses. Sadly, countless families in… Read More »

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Chapter 7 bankruptcy may be the way out you need

By Nowack & Olson, PLLC |

Throughout Florida, there are many people living beyond their means. It can be extremely hard to earn enough to pay the ever-rising bills and cover other daily expenses. To make things worse, even if you are managing to stay on top of things, it only takes one disaster to get you into trouble: a… Read More »

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Chapter 7 does not require a repayment plan

By Nowack & Olson, PLLC |

In Florida, each year sees more and more families falling into debt. Some manage to climb back out of it by themselves, but others become caught in a downward spiral as the amount they owe grows at an ever-increasing rate. When this happens, some become unsure where to turn. Constant calls from creditors can… Read More »

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