Switch to ADA Accessible Theme
Close Menu

Tag Archives: Chapter 13

Medical debt and creditor harassment

By Nowack & Olson, PLLC |

When Florida residents are coping with high medical bills, they sometimes find themselves the target of aggressive bill collectors. This can be particularly exasperating for several reasons, including the fact that they may be recovering from an illness and that the information that the collection agency has about the debt may be inaccurate. Unfortunately,… Read More »

Facebook Twitter LinkedIn

Getting real about bankruptcy

By Nowack & Olson, PLLC |

When Florida consumers are faced with significant debt, bankruptcy is often a consideration. Unfortunately, many people dismiss the idea of bankruptcy due to misconceptions about how it works and the effect it will have on their personal finances. While filing for bankruptcy can be stressful, the consequences of uncontrolled debt, including foreclosures and creditor… Read More »

Facebook Twitter LinkedIn

Filing fee reimbursement not allowed in Chapter 13 plan

By Nowack & Olson, PLLC |

Florida consumers who file for Chapter 7 bankruptcy may have their filing fee waived under some circumstances. However, there is no such waiver in a Chapter 13 bankruptcy. In some cases, debtors may pay their filing fee in installments. One debtor had her filing fee paid by her lawyer, who advanced her $310 with… Read More »

Facebook Twitter LinkedIn

Seniors, debt relief and bankruptcy

By Nowack & Olson, PLLC |

For the first time in 2012, households led by people over the age of 50 had on average more credit card debt than those headed by people under 50. Some Florida seniors may still be paying off their student loans, or they might be paying for their children’s education. Those who do not have… Read More »

Facebook Twitter LinkedIn

Unemployment benefits in Chapter 13 bankruptcies

By Nowack & Olson, PLLC |

Filing a Chapter 13 bankruptcy petition allows Florida residents to obtain debt relief while retaining their assets. Debtors who take this path must submit a plan detailing how their future income should be used to pay off at least a portion of their debts over a period of either three or five years, but… Read More »

Facebook Twitter LinkedIn

Personal bankruptcy filings soar during tax season

By Nowack & Olson, PLLC |

Many Florida residents use their income tax refunds to pay bills or fund a vacation, but others use the money to cover the costs of filing Chapter 7 or Chapter 13 personal bankruptcies. Taking advantage of the fresh start offered by the nation’s bankruptcy laws involves paying filing and legal fees, and many Americans… Read More »

Facebook Twitter LinkedIn

Rising interest rates may result in more debt

By Nowack & Olson, PLLC |

As a result of growing confidence in the economy, the Federal Reserve increased the benchmark interest rate by a quarter of a point earlier in March. For many Florida credit card holders, this is going to result in a potentially substantial increase in what they owe. This is because many credit cards have variable… Read More »

Facebook Twitter LinkedIn

Many Florida residents with medical debt are middle class

By Nowack & Olson, PLLC |

While many people assume that individuals with medical debt are poor or don’t have insurance, the reality is that increasing numbers of people who owe doctors and hospitals money are in the middle class. While many people do not get needed medical care because they are uninsured or under-insured, individuals still frequently go to… Read More »

Facebook Twitter LinkedIn

Chapter 13 plans that allocate income for retirement

By Nowack & Olson, PLLC |

When Florida residents file Chapter 13 bankruptcies, they enter into repayment plans that last between three and five years. This type of debt relief allows individuals or married couples to retain their assets, but most of their disposable income must be applied to their outstanding debts. Chapter 13 payment proposals are reviewed and confirmed… Read More »

Facebook Twitter LinkedIn

What happens to debt when a person dies

By Nowack & Olson, PLLC |

Some Florida residents who are struggling with debt might wonder what would happen if they died while still owing money. This is the case for most people. On average, according to the credit bureau Experian, the average debt without including home mortgages is $12,875. Including mortgage debt, the average is $61,544. While debt generally… Read More »

Facebook Twitter LinkedIn