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

January 2016 Archives

How can an automatic stay help you when filing for bankruptcy?

Most Escondido residents have heard the expression "when it rains, it pours," and for those individuals and families that are experiencing financial challenges, this expression can ring especially true. Many people have trouble just making the minimum payments on liabilities such as credit card debt, car loans or mortgages. And then, on top of the stress this can cause, debtors in this position have another problem to worry about: creditor collection efforts.

How do you move on after a bankruptcy filing?

Making the decision to file for bankruptcy can cause quite a bit of anxiety for Escondido residents, but when the process is complete they will likely feel one overwhelming feeling: relief. A bankruptcy filing, particularly a Chapter 7 bankruptcy filing, can go a long way toward curing many of the financial problems that Escondido residents may face. In other words, for those who qualify, Chapter 7 bankruptcy can be an effective debt solution that allows them to find a fresh financial start.

A better economy may be leading to fewer bankruptcy filings

Many of our Escondido readers likely see the regular reports that the American economy is doing well in a years-long effort at recovery. Over the last six to seven years, many Americans felt the crunch of a poor job market combined with a flat-lining real estate market. Taken altogether, Americans lost billions in wealth during the economic downturn. The result? Many people, including some individuals and families in Escondido, turned to a personal bankruptcy filing to address their financial problems.

Biotech company in California files for Chapter 11 bankruptcy

Many companies find it necessary to file for Chapter 11 bankruptcy in order to address debt concerns and reorganize the company's structure with an eye toward returning to profitability. However, not all companies do so when they are connected to a former investor who has quickly become the number one target for federal authorities investigating securities and fraud schemes.