Author Archives: Jay Butchko
100 Million Americans Have Medical Debt
We’re coming up on a population of about 400 million people. So, that’s one out of every four Americans who are living with medical debt. The failure of our insurance system coupled with rampant fraud and price gouging has left Americans with boatloads of debt that they cannot afford to pay off. However, the… Read More »
Who Files For Medical Bankruptcies?
The very poor and the very rich routinely do not have to worry about medical expenses. The very rich have money and great insurance policies. The very poor have great insurance policies provided by the state and federal governments. It’s everyone in between that suffers the fallout of increasing medical costs, higher insurance premiums,… Read More »
What Is Chapter 20 Bankruptcy?
It’s kind of a joke among attorneys. Individuals generally file under Chapter 7 and Chapter 13. When they do both at once, we call it Chapter 20. In this case, the Chapter 7 is filed first to discharge some of the qualifying debts. This will hopefully get the debtor under the debt limits allowed… Read More »
Saving Your House From A Second Mortgage In Bankruptcy
When Americans struggle for money, they often take out a second mortgage against their homes. However, as soon as you take out the loan, the loan places a lien on your house. Those who cannot dig their way out of debt end up running the risk of losing their house. However, bankruptcy provides some… Read More »
Can Veterans File For Bankruptcy?
In the rumor mill, an idea gained traction that veterans cannot file for bankruptcy or else they will lose their military benefits. Like most rumors, it has a grain of truth to it, but it isn’t quite as onerous as implied by the rumors. How did this rumor get started? Essentially, a veteran who… Read More »
Chapter 13 For The Self-Employed
Sometimes, folks misinterpret information they hear in the news and take it to its logical extreme. For that reason, sometimes bankruptcy attorneys field calls about losing benefits or risks related to bankruptcy that are not real. One such example of this is Chapter 13 bankruptcy for the self-employed. Some folks believe that self-employed individuals… Read More »
Crypto Headed For Bankruptcy, But Is Bankruptcy Headed For Crypto?
The biggest reason that crypto hasn’t “taken over” the internet is that it’s too slow to handle economies of scale. Instead, the tokens are investment chips, legally considered commodities, and can, in fact, stand in for commodities. This could be the future of crypto. What if you could put your home or vehicle on… Read More »
Can You Discharge Tax Debts In A Chapter 7 Bankruptcy?
For many Jacksonville residents, their biggest source of debt is what they owe the Internal Revenue Service. Florida may not have a state income tax, but most people still have to pay federal taxes on their income. And it is not uncommon for people to fall behind on their taxes, especially if they are… Read More »
Why Is It A Bad Idea To Represent Myself In An Employment Discrimination Lawsuit?
A person has the right to represent themselves in court without the assistance of an attorney. But this is never a good idea. Most people find the legal system overwhelming, and for good reason. It is not enough to simply argue your case before a judge or jury. You also need to understand–and comply… Read More »
The Difference Between A Secured And Unsecured Debt In Chapter 13 Bankruptcy
One advantage of filing for Chapter 13 bankruptcy over Chapter 7 is that the former can help you get current with your secured debts. For example, if you fall behind on your mortgage payments but want to keep your house, a Chapter 13 repayment plan can help you accomplish that. Chapter 7 has no… Read More »