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Category Archives: Bankruptcy

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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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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Bankr29

Did A Crypto Company Commit Bankruptcy Fraud?

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

For those who may be unaware, the crypto industry suffered a major fallout recently after one company defaulted on a loan provided by another company resulting in numerous bankruptcies across the industry. As a result, many who have invested in cryptocurrency have now had their assets frozen in their crypto accounts and may only… Read More »

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StudentDebt4

Student Loan Debt Relief And Bankruptcy

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

When the U.S. government decided that it would extend loans to its citizens, it thought it was doing a good thing. To encourage loan vendors to issue the loans, the government had to afford it certain protections. These protections are unlike any loan provider in the U.S. No loan provider can prevent a debt… Read More »

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Bank13

Couple Files For Bankruptcy After Losing Breach Of Contract Suit

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

In 2005, a couple purchased their family home for about $900,000. Then, in 2008, they sold the home for $2.1 million. However, the couple to whom they sold the home sued the couple that sold them the home for breach of contract, nondisclosure of material facts, and negligent misrepresentation, among other things. The plaintiffs… Read More »

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Bankr16

Can Your Recreational Marijuana Business File For Bankruptcy?

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

While marijuana is still illegal in Florida, there are several states across the country that have moved to legalize the popular recreational drug. In these states, marijuana dealers operate out of storefronts like liquor stores and provide top-quality marijuana to the public. While the drug is legal under state laws, it remains illegal under… Read More »

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