Category Archives: Bankruptcy
How a Chapter 13 Bankruptcy Can Lower Your Car Loan
For many of our clients, their motor vehicle is their most valuable asset. If they own a home, then their car or light truck is typically their second-most important asset. Unfortunately, motor vehicles lose value rapidly. It isn’t unusual to owe far more on a car loan than your vehicle is even worth. Interestingly,… Read More »
Can You Rent an Apartment after Bankruptcy?
Renting an apartment is challenging, especially in South Florida. Once upon a time, landlords agreed to rent to a tenant based on nothing more than a handshake. But today most landlords require an extensive application—and a credit check. It should not be surprising that a bankruptcy will stay on your credit for years. In… Read More »
Should You File for Bankruptcy after the Holidays?
For many Floridians, the stress of the holidays is matched only by the financial hangover they suffer when they open their credit card bills in January. At Nowack & Olson, we hear from many people who assume that the best time to file is right after the holidays. Actually, it is more complicated than… Read More »
Will the Bankruptcy Tsunami Arrive in 2021?
When the coronavirus pandemic hit, many people assumed that massive job losses would trigger a bankruptcy tidal wave. As experienced Plantation bankruptcy attorneys, we suspected the same. However, the number of consumer and business filings has not been unusual. Still, many people are expecting the tsunami to arrive in 2021. According to an article… Read More »
Should You Seek Dismissal of Your Chapter 13 Bankruptcy?
A Chapter 13 bankruptcy provides debtors the option of paying off debts for 3-5 years without needing to give up any property in return. At the end of the payment plan, certain unpaid debts will finally be discharged, i.e., wiped out and no longer a nuisance. However, you might realize at some point after… Read More »
Has Identity Theft Ruined Your Credit?
According to Consumer Affairs, about 10% of Americans are victims of identity theft each year. Thieves often steal personal information (such as Social security numbers) to commit fraud. Many of them will open credit cards or other lines of credit in your name and then abscond with the gains, leaving you with the debt… Read More »
Has the Pandemic Changed Consumers’ Credit Card Habits?
The recent coronavirus pandemic has had a devastating effect on the national and local economies. But how has credit card usage changed? When people feel financial stress, they can often reach for their credit cards to tide them over until they find work again. Money.com performed a survey that asked Americans how they have… Read More »
How to Deal with Zombie Debt
Zombie debt is debt that you never paid that is now so old that creditors cannot sue you to collect it. Most of this debt gets sold to collection agencies for pennies on the dollar, who then try to trick debtors into reviving the debt and paying it back. Florida is one of the… Read More »
When to Request a Credit Freeze
Identity theft is a serious risk all Americans face. Thieves work overtime to collect personal information and then gain access to credit while impersonating another person’s identity. When someone falls victim to identity theft, they stand to lose thousands of dollars and hours of their life cleaning up the fraud. Fortunately, there are tools… Read More »
Income Tax Liens & Bankruptcy
Uncle Sam always gets paid, and he has many powerful tools to help him get the money he is owed. One tool is the lien. A lien is a right to payment that attaches to property. This means that if you sell an asset, you will have to pay the lien out of the… Read More »