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Author Archives: Jay Butchko

Bank_Elder

Can I Keep My Home If I File Under Chapter 7 Bankruptcy?

By Law Offices of Carol M. Galloway, P.A. |

Those with mounting unpayable debt do have options if they want to keep their home and Chapter 7 is sometimes among them, but not usually. In a Chapter 7 bankruptcy, the assets of the debtor are liquidated to the extent they can be, and to the extent that the debtor has significant assets to… Read More »

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Bankr19

Everything You Need To Know Before Filing A Chapter 7 Bankruptcy

By Law Offices of Carol M. Galloway, P.A. |

While filing for a Chapter 7 bankruptcy is not necessarily the most fun experience, it can be a load off when you’re facing mounting debt and creditor lawsuits. The way Chapter 7 works is that it discharges unsecured credit card debt as well as medical debt and other forms of debt that are not… Read More »

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Bank10

Tenth Circuit Dismisses FDCPA Claim

By Law Offices of Carol M. Galloway, P.A. |

The Tenth Circuit Court of Appeals recently dismissed a case related to the Fair Debt Collections Practices Act which limits the types of tactics a third-party debt collector can use in an effort to collect a debt. According to the lawsuit, the plaintiff claimed that the company that was attempting to collect the debt… Read More »

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MedicalDebt3

100 Million Americans Have Medical Debt

By Law Offices of Carol M. Galloway, P.A. |

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 »

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MedicalDebt2

Who Files For Medical Bankruptcies?

By Law Offices of Carol M. Galloway, P.A. |

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 »

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Debt8

What Is Chapter 20 Bankruptcy?

By Law Offices of Carol M. Galloway, P.A. |

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 »

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BankHouse

Saving Your House From A Second Mortgage In Bankruptcy

By Law Offices of Carol M. Galloway, P.A. |

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 »

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Bank19

Can Veterans File For Bankruptcy?

By Law Offices of Carol M. Galloway, P.A. |

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 »

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BusWoman

Chapter 13 For The Self-Employed

By Law Offices of Carol M. Galloway, P.A. |

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 »

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Cryptocurrency

Crypto Headed For Bankruptcy, But Is Bankruptcy Headed For Crypto?

By Law Offices of Carol M. Galloway, P.A. |

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 »

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