Author Archives: Jay Butchko
What Happens to an Unexpired Lease If I File for Bankruptcy?
In a Chapter 13 bankruptcy, a debtor files a proposed plan of reorganization with the court. In plain terms, the debtor must explain how they will repay their creditors over a three- to five-year period. To assist in this, the court will appoint a Chapter 13 trustee, who acts as the legal representative of… Read More »
Florida Appeals Court: Police Cannot Search Individuals Just Because They Are Carrying a Concealed Weapon
The Constitution protects your right to be free from “unreasonable” searches and seizures by the police. Among other things, this means that a police officer must have reasonable suspicion that some “criminal activity may be afoot” before searching you for a weapon. The officer cannot simply search you for no reason. A “Potentially Lawful… Read More »
Lawsuit Accuses Agencies of Illegally Lowering Student Loan Borrowers’ Credit Scores During COVID-19 Emergency
In response to the unprecedented economic impact of the COVID-19 pandemic, Congress provided for student debt relief in the recently adopted CARES Act. To be clear, Congress did not cancel any existing student loan debt. But it did order a temporary freeze on payments and interest for anyone who currently owes money on a… Read More »
How Recent Changes to Federal Bankruptcy Law Could Help Protect Your Florida Small Business
In 2019, Congress enacted the Small Business Reorganization Act (SBRA). This created a new provision of the federal Bankruptcy Code known as Subchapter V of Chapter 11. The idea behind Subchapter V was to give small businesses a “fast track” option for reorganizing themselves in bankruptcy without the need to go through the regular… Read More »
Can the Paycheck Protection Program Help My Florida Business During the COVID-19 Pandemic?
In response to the massive economic shutdown caused by the COVID-19 pandemic, Congress established the Paycheck Protection Program (PPP) to “provide a direct incentive for small businesses to keep their workers on the payroll.” Congress initially appropriated $349 billion to the PPP, which was quickly exhausted. On April 24, the President signed additional legislation… Read More »
Should I File for Bankruptcy If I Lost My Job Due to COVID-19?
The COVID-19 pandemic has challenged our economy in ways not seen since the Great Depression. As of April 16, 2020, approximately 22 million people in the U.S. have filed for unemployment insurance. Even with additional benefits provided for under recent congressional legislation, thousands of Floridians now find themselves unable to pay rent and other… Read More »
How Could an Accidental Omission from My Bankruptcy Petition Affect My Ability to Obtain a Discharge?
A Chapter 7 bankruptcy can give you a fresh start free of your current debts. But when seeking bankruptcy protection, it is critical that you are open and transparent with the court about your finances. If you attempt to hide income or assets, the judge can deny you a discharge of your debts–meaning you… Read More »
How the Covid-19 Response May Affect Your Student Loan Obligations
Even under normal circumstances, many Florida residents struggle to repay their student loan debt. And as we all know, we are not living in normal circumstances. The rapid spread of the Covid-19 disease throughout the United States–and the accompanying economic shutdown designed to mitigate its impact–has already devastated the livelihoods of millions of workers… Read More »
How Does Florida’s Homestead Exemption Protect Me in Bankruptcy?
The purpose of bankruptcy is two-fold. First, it enables you to discharge–i.e., eliminate your legal obligation to pay–many if not all of your outstanding debts. Second, it ensures you retain enough property to make a “fresh start.” On this second point, federal and state law allows you to keep or “exempt” certain property. If… Read More »
When Can You Discharge an Unpaid Tax Bill in Bankruptcy?
A question we often get is, “Can I file for bankruptcy to wipe out an unpaid tax bill?” The answer to this question is complicated. While many individual debts can be easily discharged in bankruptcy, there are special rules applicable to taxes. To explain things as simply as possible, you may be able to… Read More »