Law Office of Judith A. Descalso Law Office of Judith A. Descalso

December 2012 Archives

California energy company files for Chapter 11 bankruptcy

When a business contemplates filing for bankruptcy protection, the decision can weigh on both the company and their partners heavily. In some instances, a business bankruptcy can be the beginning of a major turnaround, providing the means by which a company can streamline operations, get rid of unproductive practices and slim down an asset portfolio. For others, a bankruptcy can be the beginning of the end for the company, with nothing left to do but sell off assets and apply the proceeds toward the company's debt obligations. Either way, a business bankruptcy can be a long and complex proposition.

Student loan debt and a fresh start - are they compatible?

For some of our Escondido readers, the fact that the politicians in Washington, D.C., are trying to figure out the country's fiscal future can be somewhat frightening. California residents are all too familiar with the way some public officials handle monetary affairs, and the nation could be facing an even bigger challenge in the coming years - student loan debt.

Americans using the plastic more as economy improves

New numbers provide a key indicator that consumer confidence is starting to pick up as we head toward Christmas. According to credit reporting agency TransUnion, the average credit card balance per borrower ticked up in the period of July through September of this year when compared to the same period last year. But the increase in average credit card debt could mean that more Americans will need to file for bankruptcy if they can't keep their spending under control.

Another Chapter 11 bankruptcy for a solar company

Although many of our California readers are probably tired of hearing about the solar energy industry, another company has made the news, and it isn't encouraging for the health of this sector of the economy. Signet Solar, a California-based solar panel manufacturer, recently filed for Chapter 11 bankruptcy.

Besides bankruptcy, how else can Californians approach debt?

For our Escondido readers, it can probably seem like every day brings a little good news and a little bad news about the nation's economy. The unemployment rate remains as unchanging as ever, but the housing market seems to be seeing a little bit of positive momentum. The national debt continues to spiral out of control, but at least the politicians in Washington, D.C., seem like they might be able to agree on the tax rates for next year before December 31. However, for the regular person just trying to get by, these issues can seem like they are a million miles away when all they are trying to do is make minimum payments and try to maintain their credit.