Author Archives: Jay Butchko
3 Common Bankruptcy Myths Debunked
Unfortunately, as much as the many benefits of financial relief that bankruptcy has offered and continues to offer many people, some still have many negative opinions about filing for bankruptcy relief. However, even though some people have negative perceptions about bankruptcy, some things people say or write about bankruptcy are simply false. Deciding to… Read More »
What Is A Bankruptcy Dismissal?
After you file for bankruptcy, you can either get a discharge or a dismissal. These two terms are often confusing to many, and some even assume that the two terms mean the same thing. A bankruptcy dismissal is not the same as a bankruptcy discharge. When you file for bankruptcy, your goal is to… Read More »
Can Bankruptcy Stop Me From Keeping My Inheritance?
Once you decide to file for bankruptcy, you need to consider several things before and prepare for all the effects of bankruptcy. For example, you need to consider the fact that a bankruptcy can stay on your credit report for up to ten years. However, please note that it is not true that filing… Read More »
Avoid Making These Mistakes if You Are About To File for Bankruptcy
When done correctly, bankruptcy can offer you a fresh financial start. On the other hand, if you don’t do things correctly, your bankruptcy case could be rejected or face challenges. Before filing for bankruptcy, you must avoid doing certain things that can ruin your chances of having your debts discharged or re-arranged. Some people… Read More »
Secured vs Unsecured Debt: What Is the Difference?
Debts are divided into two broad categories; secured and unsecured. The main difference between these debts is that one is backed by collateral, whereas the other is not. Debtors need to keep in mind that they are bound to experience a lot of pressure and stress when they have overwhelming debts, regardless of whether… Read More »
Can I Discharge Medical Debt in Bankruptcy?
According to research, hundreds of millions of Americans face financial difficulties due to medical costs yearly. Many Americans usually decide to cash in their retirement savings to pay their medical debts. Unfortunately for many, even those savings are never enough to get them out of debt. When medical debts become overwhelming, many Americans choose… Read More »
FCEUA: Pennsylvania Law Against Harassment by Creditors or Debt Collectors
In Pennsylvania, debt collection activities are governed by the Fair Credit Extension Uniformity Act (FCEUA). The Fair Credit Extension Uniformity Act establishes what is considered deceptive and unfair debt collection practices. The Fair Credit Extension Uniformity Act is the state law governing debt collection practices in Pennsylvania. The Fair Debt Collection Practices Act, on… Read More »
COVID-19 Unemployment Compensation Overpayments: Are Unemployment Compensation Overpayments Dischargeable in Bankruptcy in Pennsylvania?
In the wake of COVID-19, many people across America and the entire world have lost their jobs. Because states understand the impact of unemployment on families, for months now, eligible individuals across America have been receiving unemployment benefits designed to help them pay their bills as they search for jobs. However, that same help… Read More »
When Is the Best Time To File For Personal Bankruptcy?
Everyone faces debts at some point in their life. In some circumstances, a tight budget and strong focus can help you move toward financial independence. However, there are circumstances under which a person may not be able to dig out from their current financial situation. Medical bills from an unexpected injury or a layoff… Read More »
Understanding the Bankruptcy Process
Bankruptcy can seem overwhelming, especially if you are new to the bankruptcy process. However, if you are considering filing for bankruptcy, just know that this may provide you the financial fresh start that you need. While bankruptcy is not the best option for everyone facing financial struggles, statistics show that those persons that actually… Read More »