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

April 2015 Archives

Thinking about the tax implications of a bankruptcy filing?

Most people make quite a few financial decisions that could be big enough to impact the rest of their lives. For instance, buying a home, taking out student loans for school or even getting a car loan can bind an Escondido resident to a financial obligation for years to come. The decision to file for personal bankruptcy can be equally impactful.

Maintaining the validity of discharged debt

Any of our readers who are familiar with previous posts here know many of the pros and cons of filing for bankruptcy as a debt solution. Chapter 7 bankruptcy, in particular, can result in the complete discharge of many debts owed by an Escondido resident. However, once that discharge of debt occurs, it is important that there is faith that throughout the process there were no indications that the filer's financial status had changed.

How does a bankruptcy filing impact your retirement funds?

Everyone looks forward to retiring one day and being able to spend their leisure time in whatever manner they see fit. When Escondido residents work for 45 years or more - saving money for retirement along the way - they are usually happy when the day comes that they can actually sit back and relax. But what if financial troubles pop up along the way? What if instead of carefully saving for retirement for years, with a well thought out plan, the household finances somehow get thrown out of whack? Can a bankruptcy filing have any kind of impact on retirement savings?

RadioShack's business bankruptcy gets bogged down

Our regular California readers may remember seeing a previous post here regarding the Chapter 11 bankruptcy filing by former electronics powerhouse retailer RadioShack. The company, hindered by changing consumer preferences that have seen many brick-and-mortar retailers lose significant ground to Internet-based companies, filed for Chapter 11 bankruptcy to presumably attempt to turn things around and remain in business. The most recent reports concerning the company's Chapter 11 proceedings indicate that several different options are still in play.