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July 2014 Archives

What are "exempt" assets in a Chapter 7 bankruptcy filing?

A bankruptcy filing is a step-by-step process that, if done correctly, leaves the filer with significantly less, or even no, debt while still owning some important possessions. One term in this process is critical to understand: exempt property.

Business bankruptcy for women's clothing chain

It is no secret that the American economy has gone through some trials and tribulations over the last several years. The economic recession was one thing, but with the proliferation of Internet use for shopping and other changing consumer trends, many business owners may find it hard to predict where the next profitable path forward may be. And, in some instances, changing economic trends and conditions can leave some companies with no other choice but to pursue a bankruptcy filing.

What does filing for bankruptcy mean to you?

By the time an Escondido resident decides that it is time to file for bankruptcy, most of the hardest decisions have been made already. These are decisions based on weighing the pros and cons of filing for bankruptcy, such as balancing how great it will be to be out from under the dark cloud of debt versus the short-term and long-term effects on the filer's credit score. But, after the decision has been made, there are a great many more steps to be taken.

Lessons of Independence Day applied to financial challenges

Freedom, independence and liberty were widely celebrated throughout America over the recent holiday weekend, and hopefully all of our Escondido readers were able to have a good time with friends and family members. Recognizing the importance of these American principles in the everyday lives of millions of people, a recent article took a somewhat different approach to how they can be implemented to practical effect - through freedom from credit card debt.

Debate continues on filing for bankruptcy and student loan debts

By now most of our Escondido readers have heard about the looming problem that exploding student debt obligations presents to our country. Beyond that, many also know that student loan debt cannot be discharged in a personal bankruptcy action either, leaving few, if any, options for individuals drowning in this type of debt. After all, if an Escondido resident finds themselves plagued by almost any other type of debt, especially something like credit card debt, they know that filing for bankruptcy can be a solid option to get the debt discharged in order to begin to rectify an individual or family financial situation. So, are there any options for addressing student loan debt?