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

October 2012 Archives

Another solar power bankruptcy could have California on edge

Our more regular California readers are probably familiar with previous posts mentioning the bankruptcy actions of several companies in the solar power industry. With the entire industry under a microscope, especially with the high-stakes presidential election looking to come in at a photo finish, it is no surprise that any action within the solar power world usually comes to the forefront of the news right away. However, beyond the effects of solar power on our nation's power grid and the elections in November, one recent Chapter 11 bankruptcy could have some impact on California companies.

Personal bankruptcy - will you qualify for a mortgage afterward?

Our Escondido readers may be aware of some of the many factors that come into play when a person considers filing for bankruptcy. First of all, there are different types of bankruptcy to consider. But, for many of those individuals who do not have a sufficient income, Chapter 7 is the type of personal bankruptcy they are most likely to consider. In this type of bankruptcy action, known as a "liquidation" bankruptcy, the filer lists all of their non-exempt assets, which are then sold off with the proceeds going toward the balance owed to creditors. Any remaining unpaid balance is then discharged.

Chapter 11 filings decrease, but is that always a good thing?

The American economy remains sluggish -- no one can deny that. Our California readers are likely hearing more from politicians running for office about whether the economic arrow is pointing up or down, but sometimes the best way to figure it out is to look at the objective data. For example, most of the numbers concerning the housing market have turned positive in recent months, and, if one is to believe a lower unemployment rate means what it is supposed to mean, then more Americans are finding work. But there could be a number that means more because it concerns business -- the drivers of employment in America.

Movie company ready to get back to business after Chapter 11

Any of our San Diego area readers who are movie buffs may remember the hits "Titanic" and "Transformers." While one was a critically acclaimed Oscar winner and the other was a summer-fun popcorn fest, both had one thing in common: their special effects were fantastic. The company behind some of those effects, Digital Domain, was founded in 1993 in partnership with legendary director James Cameron. However, the company was facing some tough times in recent years, to the point where a Chapter 11 bankruptcy filing became necessary. Fortunately though, the company recently emerged from the Chapter 11 process with new owners, and is now ready to continue to bring all of us more spectacular movies.

Credit card debt -- what is the best way to repay the balance?

Not all of our California readers have experienced a crushing debt burden, but with the economy still struggling, many have. Whether it is mortgage or credit card debt, having a high balance and being unable to make even minimum payments can be scary, and it can have a hugely negative effect on a person's credit. However, even for those who look at the credit card in their wallet with scorn, there are some repayment strategies that could be put into effect in order to start whittling away at that big balance.