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

December 2015 Archives

Can overdue child support be discharged by filing for bankruptcy?

Many people in Escondido who are considering filing for bankruptcy have a variety of different debts that they would like to discharge. Some have debt from credit cards or auto loans, others have debt from mortgages and personal loans. As our readers have seen in previous posts here, there is no doubt that filing for personal bankruptcy can oftentimes be a very effective debt solution.

Knowing your bankruptcy exemption options in Escondido

For many Escondido residents, their financial situation slowly deteriorates over time to the point where a serious dinner table discussion regarding bankruptcy comes up. For people who find themselves in this type of situation, debt and bills are piling up, and they come to understand that they simply do not have the resources to keep up. The prospect of filing for bankruptcy can be scary, mostly because many people believe that they will lose everything.

Taking the right steps before filing for bankruptcy

For many Escondido residents, the need to file for bankruptcy comes up suddenly due to unexpected expenses that sap a person's savings and throw them too far into debt. For others, the debt burden gradually gets larger over the years, eventually reaching the point where even making minimum payments on debt obligations is no longer possible. No matter which category our readers fall into, there are certain steps that will need to be taken before actually filing for bankruptcy.

The interplay between credit card debt and your credit score

With the holiday season well underway at this point, there are probably quite a few Escondido residents who are beginning to rack up credit card debt. For some people, the credit card balances will be paid off in full when January comes around, and they will go about their usual financial practices. But, for others, the debt is simply added on top of existing credit card debt, and the balances roll over every month. This can not only result in higher minimum monthly payments, it can also result in a hit to your credit score.

Determine if bankruptcy is the right decision

Any of our Escondido readers who are familiar with previous posts here know that making the decision to file for bankruptcy is not an easy one. Filing for bankruptcy will have significant consequences - both good and bad. So, it should be no surprise that most people take the time they need in order to determine whether filing for bankruptcy is in fact the right move.