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Tag Archives: Florida Bankruptcy Lawyers

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Hoping to Win the Lottery? It Could Lead to Bankruptcy

By Nowack & Olson, PLLC |

Gigantic lottery jackpots have been in the news recently. First, there was the $1.6 billion Powerball lottery in 2016. Then, in late October 2018, Mega Millions offered a $1.5 billion lottery jackpot—which was won by a single person who bought a ticket in South Carolina. We wish that we could tell the public that… Read More »

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Bankr16

Chapter 7 Bankruptcy & Your Inheritance

By Nowack & Olson, PLLC |

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 »

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Rapper Lil Kim Files for Bankruptcy

By Nowack & Olson, PLLC |

Financial troubles seem to hit the wealthy just as frequently as the average working American. In a news scoop from last month, TMZ reported that famed rapper Lil Kim filed for bankruptcy protection in New Jersey. As reported in court documents, Kim is up to her eyeballs in debt to the tune of $4… Read More »

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Getting Cold Feet: Can You Withdraw Your Bankruptcy Petition?

By Nowack & Olson, PLLC |

Many debtors are nervous about filing for bankruptcy, so it should not be surprising that some try to back out after having filed their bankruptcy petition. But is this possible? Actually, it depends on which bankruptcy you file, as well as your reasons for wanting to withdraw the petition. Withdrawing a Chapter 13 Petition… Read More »

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Bankruptcy Filings Continue to Fall in the U.S.

By Nowack & Olson, PLLC |

Every week there is a new sign of the strength of the U.S. economy. Unemployment has fallen below 4%. Wages continue to rise. And the stock market has continued to rebound. Now we have another positive piece of news: bankruptcy filings have fallen in May 2018, the latest month for which statistics are available…. Read More »

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Bankr12

5 Mistakes People Make before Filing for Bankruptcy

By Nowack & Olson, PLLC |

If done right, bankruptcy can provide you with a fresh financial start and a new outlook on life. However, we have seen people commit some common errors before filing. These mistakes can cause the court to reject your bankruptcy petition, and they can be costly to fix. Before filing for bankruptcy, make sure to… Read More »

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2017 Was a Big Year for Consumer Credit

By Nowack & Olson, PLLC |

You might have been noticing more new cars in your neighborhood or more neighbors starting home improvement projects. There is a reason. According to a recent report from TransUnion, 2017 saw consumer credit grow at a steady pace, with more than 20 million new credit accounts opened in 2017 alone. TransUnion credits the strengthening… Read More »

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Bankr18

How to Avoid Financial Disaster

By Nowack & Olson, PLLC |

Debt doesn’t matter—until it does. Credit card bills pile up, home mortgage rates shoot up, yet you don’t notice anything because you can continue to make your minimum monthly payment. Until one day, you find that you can’t. At that point, you might start panicking, wondering how you reached this point. If you haven’t… Read More »

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Will I Lose My Car in Bankruptcy?

By Nowack & Olson, PLLC |

Bankruptcy can give you a fresh financial start, but it has some nasty side effects you should know about before filing. One concern many clients have is whether they will lose their vehicle if they file for bankruptcy. Without a car, it can be very difficult to get to work and meet family obligations,… Read More »

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Can Bankruptcy Help with Federal Tax Debts?

By Nowack & Olson, PLLC |

Of all the debts people owe, federal tax debts are some of the most worrisome. Uncle Sam insists on being paid. The federal government has shown little hesitancy placing liens on people’s properties and garnishing their wages. Could a bankruptcy help? Generally, you cannot get rid of federal tax debts in bankruptcy, but a… Read More »

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