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Author Archives: Jay Butchko

Debt7

Legal Protections Against Predatory Automatic Renewals

By Nowack & Olson, PLLC |

Most people’s debt problems are not due to poor financial decisions but simply to the fact that, unless you were born into money, necessary expenses have become unaffordable.  Despite this, cutting your expenses as much as possible can help you reduce your debt and put yourself on firm footing for bigger interventions like applying… Read More »

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CreditorCall

4 Abusive Debt Collection Tactics That Are Perfectly Legal

By Nowack & Olson, PLLC |

It is illegal for creditors to contact you about repayment of debts before 8:00 in the morning or after 9:00 at night.  They cannot contact you at your workplace or otherwise publicly shame you about failing to pay money that you owe.  They cannot threaten you, curse at you, or call you offensive names. … Read More »

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Debt4

The Statute Of Limitations For Florida Debts

By Nowack & Olson, PLLC |

Conventional wisdom about personal finance holds that ignoring debts can only make them worse.  Meanwhile, debts have a statute of limitations, which means that, if you have not made payments toward a debt after a certain amount of time has gone by, there is little that creditors and debt collectors can do to get… Read More »

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CouplePlanning

Are Microloans Your Best Hope For Getting Access To Credit?

By Nowack & Olson, PLLC |

In 2006, the economist Muhammad Yunus won the Nobel Peace Prize for his role in founding Grameen Bank, an organization that provides microloans to women in Bangladesh who would not otherwise have access to credit.  In 2008, Professor Yunus founded Grameen America, which operates on a similar model to provide microloans to women in… Read More »

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BalloonMortgage

How Risky Are Balloon Payment Mortgages?

By Nowack & Olson, PLLC |

From groceries to insurance premiums, the most affordable ones are reserved for people whose finances are already in pretty good shape.  The same rule applies to mortgages.  The most affordable home mortgage loans are called qualified loans.  Before entering into a loan agreement for a qualified mortgage, the lender conducts a rigorous review of… Read More »

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BankChapter13

Florida Celebrity Bankruptcy Files: Trick Daddy

By Nowack & Olson, PLLC |

Filing for bankruptcy protection is your legal right.  No one can take that right away from you, not your ex-spouse, not the beneficiaries of your will, and not even the family court, the criminal court, or the bankruptcy court.  In some cases there is a waiting period after one bankruptcy filing before you can… Read More »

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Tax1

Which Debts Should You Pay Down With Your Tax Refund?

By Nowack & Olson, PLLC |

The idea of universal basic income has been around since before the COVID-19 pandemic, but several rounds of stimulus checks have offered insights into what people actually do when they get a temporary and modestly sized windfall while living paycheck to paycheck.  Most people did not splurge their stimulus checks, whether or not they… Read More »

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BankruptcyReorg

Florida Celebrity Bankruptcy Files: Lakeisha Williams, Stepmother Of Venus And Serena

By Nowack & Olson, PLLC |

People who have seen the movie King Richard will be familiar with the story of how Richard Williams and his wife Oracene Price bought a house in South Florida and outfitted it with tennis courts where their daughters Venus and Serena would practice playing tennis until they became world champions.  Today, the house bears… Read More »

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Bankr26

How Does Filing For Bankruptcy Affect Your Career?

By Nowack & Olson, PLLC |

Everyone has the right to file for bankruptcy protection; neither the spouse nor the IRS nor anyone else has the right to stop you.  Despite this, just because you file for bankruptcy protection, it does not automatically mean that the court will accept your filing.  To get your bankruptcy petition accepted, you must persuade… Read More »

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DebtHelp

Another Extension Of The Student Loan Pause Gives Borrowers An Opportunity To Tackle Their Debt

By Nowack & Olson, PLLC |

In some ways, life has gone back to normal two years after Florida reported its first cases of the illness now known as COVID-19.  The mask mandates are a thing of the past, classrooms are full of students, and tourists have returned to Florida’s beaches.  No one knows when the next new variant is… Read More »

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