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

September 2014 Archives

Getting back on your feet after a bankruptcy filing

There is an unfortunate perception among many Americans that filing for bankruptcy is the culmination of a string of poor financial decisions. While it is true that no one wants to find themselves in a position where they even need to consider bankruptcy to begin with, the fact is that filing for bankruptcy shouldn't be viewed as the end of the line for the filer's financial situation. It should be viewed as the beginning - the first step toward greater financial freedom and stability.

An overview of the CARD Act

Credit card users throughout America may not have realized it, but for the last few years a law passed by the United States Congress in 2009 has been providing them with significant protection. That law is known as the CARD Act, and it became effective on February 22, 2010.

Credit cards can lead to "bad debt"

Many of our Escondido readers have probably heard financial "experts" opine on the difference between "good debt" and "bad debt." For instance, a mortgage is often considered to be "good debt" because as a homeowner repays the loan they are building equity in what was once considered to be a very safe investment - real estate.

How do you know if bankruptcy is the right decision?

Escondido residents who are facing the most difficult of financial challenges will usually contemplate filing for bankruptcy at some point. But, for many people, knowing whether or not bankruptcy is the right option is hard, and they find themselves thinking: "I know bankruptcy helps people, but is it right for me?" Unfortunately, there is no easy answer to this question because every individual and family has a completely different set of circumstances. However, if you have begun to think that bankruptcy could be a legitimate option in your situation, there are a few things to think about.