Author Archives: Jay Butchko
Bankruptcy and COVID-19
The coronavirus has caused a global pandemic the likes of which the modern world has not seen. Businesses have shuttered their doors, and while certain states or counties stay open, others have closed. Some are reopening in phases, and only time will tell if they will need to shutter their doors again. The only… Read More »
Bankruptcy 101
If you are considering bankruptcy, you may be unsure of the types of bankruptcy, what types of debts bankruptcy discharges, or how long the process will take. This Bankruptcy 101 guide will help you understand the differences between Chapter 7 and Chapter 13 bankruptcy, additional bankruptcy basics, what debts are dischargeable in a bankruptcy,… Read More »
Life After Bankruptcy
Making the decision to declare bankruptcy is oftentimes a difficult one. The scar of bankruptcy is left on your credit history for several years, and if you are considering, or have just declared bankruptcy, you may wonder how to regain your financial health after the process. Chapter 7 bankruptcy will wipe out most of… Read More »
How a Bankruptcy Affects Your Credit Score
If you are considering filing for bankruptcy, the last thing you may be worried about is your credit score. With overwhelming debt, you may not be in the market to purchase a new home, car, or other major purchase. However, it is important to understand how a bankruptcy will affect your credit score, as… Read More »
Filing For Bankruptcy for the Purpose of Tax Relief
If you are considering filing for Chapter 7 or Chapter 13 bankruptcy, it is likely because of your mounting debt and financial obligations to creditors. While Chapter 13 bankruptcy will only allow you to restructure your existing debts, Chapter 7 bankruptcy will allow you to discharge many of your debts completely. However, eliminating debt… Read More »
Certain VA and DOD Benefits Now Held Out of Bankruptcy
In August of this year, the Honoring American Veterans in Extreme need Act of 2019 (“HAVEN Act”) was signed into law by the President of the United States. The Act excludes certain benefits paid to our nation’s veterans by the Department of Veteran Affairs (VA) and the Department of Defense (DOD). This changes the… Read More »
New Bankruptcy Amendments on the Horizon For 2020
The Honoring American Veterans in Extreme Need Act of 2019 (“HAVEN Act”) was signed into law by the President of the United States this past August to exclude certain VA benefits from being affected by the bankruptcy process. However, this was not the only bankruptcy amendment made to the U.S. Bankruptcy Code that will… Read More »
Navigating Apartment Renting in Lehighton and Carbon County After Bankruptcy
Although bankruptcy is a chance to gain a fresh start in life for many, having a place to live is often a concern for individuals after filing for bankruptcy whether Chapter 7 or Chapter 13. While it is possible to secure a new apartment after filing bankruptcy, you should be aware of how the… Read More »
Basics of the Trustee’s Role in a Bankruptcy Case
Whether you file a Chapter 7 or Chapter 13 bankruptcy in the Eastern, Middle or Western District of Pennsylvania, the United States Trustee’s Office, a part of the United States Department of Justice, will appoint a third party to the bankruptcy case, known as the bankruptcy trustee. The ultimate job of the Trustee is… Read More »
How to Decide if Chapter 7 Bankruptcy is Best for You
Bankruptcy is a term that you hear frequently. While listening to the news, you hear stories of major companies going bankrupt and filing for bankruptcy and you wonder to yourself, “How did they go bankrupt? Shouldn’t these companies have money to pay their bills?” Sometimes that’s not the case for companies. But they are… Read More »