Author Archives: Jay Butchko
Who Needs to Pass the Bankruptcy Means Test?
If you are considering bankruptcy for yourself as an individual consumer, or for your business, you might have come across information about something known as the “means test.” You may be wondering who needs to pass the bankruptcy means test, and what is involved in taking and passing the means test. The short answer… Read More »
Clarifying Subchapter V Eligibility
If your business has been considering a Subchapter V bankruptcy filing, you may be aware that one of the eligibility requirements changed in summer 2024 with the sunsetting of a provision in federal law. With much news surrounding the revised eligibility factor, and significant news about a stark rise in Subchapter V bankruptcy cases… Read More »
Does the Automatic Stay Always Apply in Bankruptcy Cases?
As soon as you file for bankruptcy protection — as an individual or a business — you will receive immediate help from an injunction known as the “automatic stay,” set forth in Section 362 of the US Bankruptcy Code. In every bankruptcy case, whether it is a liquidation or reorganization bankruptcy, and whether the… Read More »
What is the Good Faith Requirement in Chapter 13 Bankruptcy?
Are you currently considering a Chapter 13 bankruptcy filing? If so, you might have come across information concerning “good faith.” While there are frequently discussions about how a debtor may be deemed to be acting in bad faith in certain types of bankruptcy actions or omissions, the terminology of “good faith” is written into… Read More »
Medical Debt and Bankruptcy Risks Among Older Floridians
Medical debt can affect Floridians of any age, but older adults who live in the state tend to have significantly more medical debt than younger residents. Indeed, according to a report from Alignment Health, seniors in Florida have the highest rate of medical debt in America. That report reveals that about 1 out of… Read More »
What is the Alter Ego Doctrine in Bankruptcy Law?
If you are considering corporate bankruptcy and any reference to the “alter ego doctrine” has come up, or there are reasons to anticipate the idea of “piercing the corporate veil” arising, it is important to learn more about how this doctrine could impact your business and your business bankruptcy case. This doctrine could be… Read More »
What Are My Options for Consumer Bankruptcy if I Own a Small Business?
If you own a small business and want to file for personal or consumer bankruptcy, what are your options? There is no single answer to that question, and the best or available options to you will depend on your aim in filing for bankruptcy, the amount of debt, whether the debt is primarily consumer… Read More »
Can I Apply for a New Loan During My Chapter 13 Bankruptcy?
If you are planning to file for Chapter 13 bankruptcy in South Florida, or if you have recently had a Chapter 13 bankruptcy plan confirmed, you may have questions about what the bankruptcy process during the length of the plan will entail and how it will impact your ability to obtain a loan. In… Read More »
Should I File for Chapter 11 or Chapter 13 Bankruptcy?
Are you currently considering bankruptcy and trying to determine which type of bankruptcy is the best option for you, and which type of bankruptcy you are eligible to file for based on your current financial circumstances and US bankruptcy law? For debtors who are considering a reorganization bankruptcy — as opposed to a liquidation… Read More »
What Do Subchapter V Reorganization Plans Look Like?
If your small business is considering a Subchapter V bankruptcy case, it is important to know what to expect as you develop your reorganization plan. For small businesses in South Florida, it is critical, first, to know that the debt limits for Subchapter V changed recently — you should be aware of the debt… Read More »
