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

October 2014 Archives

Filing for bankruptcy becomes a reality for many cancer survivors

Most people are familiar with the various public campaigns to raise awareness and funds in regards to cancer and cancer treatment. The highly-popular National Football League, for instance, has a campaign throughout the month of October when players and coaches were various bits of pink in their uniforms and clothing to show support for breast cancer awareness. However, what is not widely known - and definitely not widely discussed - is that for someone going through cancer treatment after a diagnosis, the financial burden can be considerable.

Considering all the options when facing financial challenges

For California residents facing severe financial problems, filing for bankruptcy is certainly an option. A personal bankruptcy filing can discharge debt and leave the filer with fewer monthly bills to worry about all the time. From there, the filer will slowly be able to see that moving forward with financial issues is likely to be much easier.

Discharging debt with Chapter 7

Anyone who has read previous posts here knows that there are many different factors to consider before making the decision to file for bankruptcy. But, after the decision is made to go through with a bankruptcy filing, the next question to answer is which type of bankruptcy filing will apply in your unique situation.

The alarm is sounded on consumer debt

Much was made of the efforts of millions of Americans to trim down their debt burdens and shore up their finances during the recent economic downturn. Experts noted how many people chose to spend their money a bit more wisely during the recession, and it was believed by some that perhaps that would translate into more financial security for many people as the economy improved. But, as always seems to be the case, as the economy has improved - albeit at a snail's pace - Americans are taking on more debt.

Can I protect my 401k in a bankruptcy filing?

One of the primary concerns many California residents have when they are contemplating a move toward filing for bankruptcy is whether or not their retirement savings accounts will be part of the proceedings, specifically their 401k. This is a completely rational concern, because what most people know about bankruptcy is that assets are forfeited to be sold and the proceeds are applied toward outstanding debts. So, is your 401k protected in a bankruptcy filing?