Author Archives: Jay Butchko
Don’t Let Buy Now, Pay Later Make Your Debt Problems Worse
Some of the habits we as a society have picked up during the pandemic are more useful than others. Learning to cook your favorite restaurant foods from scratch is a habit worth keeping even when in-person dining is in full swing. Conversely, doom scrolling has not done anyone any favors. Buy now pay later… Read More »
Bankruptcy: It Happened To Burt Reynolds, And It Can Happen To You
Burt Reynolds was a true original. During the years he spent in Florida, he made the Sunshine State that much brighter. The only bad thing anyone could think of to say about him was that he looked too much like Marlon Brando. Perhaps you have expended considerable effort in trying to emulate him, but… Read More »
Maybe They Should Call It The Slightly Fewer Surprises Act
On paper, it looks like 2022 will be the year when medical bills impose less of a debt burden on American consumers. Medical debt is the single biggest contributor to most people’s financial struggles; nationwide, approximately $88 billion of unpaid medical bills are bouncing around from one collection agency to another and hindering people’s… Read More »
Florida Celebrity Bankruptcy Files: David Cassidy
Sordid tales of fresh-faced child stars who grew up to have an above average share of adult problems are their own subgenre of celebrity gossip. The public seems to get a kick out of hearing the names of celebrities whose squeaky-clean teenybopper image once set an impossible standard for their audiences to live up… Read More »
Good News About Medical Debt And Credit Reports
Paying down debt feels great, but it is discouraging when, after you make the last payment on your payment plan from your emergency room visit, your application for a car loan still gets denied? Most debts stay on your credit report for seven years, even if you were just a little bit late paying… Read More »
Florida Celebrity Bankruptcy Files: Antoine Walker
Several years ago, ESPN made an entire series of rags to riches to rags stories of professional athletes who gained immense wealth during their sports careers, only to lose their fortune several years later. Viewers who lack athletic talent watched the show with Schadenfreude, thinking that people who made their money through boring jobs… Read More »
Staying Out of Trouble With Buy Now Pay Later
As the Internet will not let you forget, you know you are a geriatric millennial if you read BuzzFeed listicles, and when it’s a slow news day, BuzzFeed trots out new listicles about signs that you are rich or signs that you are poor. Making purchases on layaway has always been the province of… Read More »
Filing For Bankruptcy Protection After Closing A Business
More than half of small businesses close within a few years of opening. Meanwhile, closing a business with losses is one of the most financially disruptive events in a person’s life. Just as a disproportionate number of bankruptcy filings are by recently divorced people, people who have recently closed a business with losses also… Read More »
Is Opening A New Credit Card The Solution To Your Credit Card Debt Problems?
Credit cards can make your financial situation worse, but if you use them strategically, they can also make your financial situation better. For example, opening a credit card, but only using it to make small purchases can increase your credit to debt ratio, thereby improving your credit score, especially if you pay off your… Read More »
What Is The Difference Between Discharge And Dismissal In A Bankruptcy Case?
In bankruptcy cases, as with many other legal matters, many words mean something other than their usual meanings. On the surface, bankruptcy seems to mean not having any money, but the legal term is actually “bankruptcy protection,” where the court decides which of your possessions and how much of your money creditors cannot take… Read More »