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

April 2014 Archives

Actress filing for bankruptcy in California

California residents are accustomed to hearing quite a bit of celebrity news in their daily lives. This is no surprise since many famous actors and musicians call California home. While there are sometimes good, heartwarming stories about celebrities helping charities to raise money or adopting children from poverty-stricken foreign countries, more often than not celebrities make news for the wrong reasons. While one actress caught some negative news coverage recently, fortunately it was not for an arrest or entering drug rehab. Teri Polo, one of the stars of the "Meet the Parents" movies, filed for personal bankruptcy.

Do Escondido residents know about the balance of taxes and debt?

With the April 15 tax-filing deadline having already come and gone, many of our Escondido readers have probably taken their last comprehensive look at their finances for the year. Everyone knows that filing taxes each year can be a grueling process, but the reality is that this time of year also offers individuals and families an excellent opportunity to assess the current state of their overall financial health - and perhaps predict the impact of certain debt obligations going forward and whether or not filing for bankruptcy may be in play.

The "debt snowball" - an alternative to filing for bankruptcy?

Some California residents see debt troubles coming as their financial challenges progressively get worse. For others, the problem just seems to come out of nowhere, due to a sudden loss of employment or unexpected medical expenses. No matter how it happens, being in debt can have a number of significant impacts on an Escondido resident's life, including poor credit and harassment from creditors. So, once a trying debt situation is at hand, what is the best way to approach the problem, besides filing for bankruptcy?

How credit card use impacts a credit score

Escondido residents, like millions of Americans, struggle with how to effectively manage their credit cards. No matter how problems arise, whether through unexpected medical expenses or the loss of a job, credit cards can often be a valuable emergency financial tool that can keep a family afloat during financial challenges. However, credit card debt can become a major problem if balances get too high. And when that happens, the issue of rebuilding credit can take center stage in a family's finances.

How can Escondido residents begin to face financial challenges?

Our Escondido readers know that it can be difficult to get on the right path toward financial stability, especially after filing for bankruptcy. Daily financial hardship seems to have become the "new normal" for millions of Americans, even as thousands of people have taken advantage of the benefits of filing for bankruptcy and addressing debt over the last several years. For many people, the struggle to "get ahead" is seemingly a struggle without end. With that in mind, a recent article suggested a few tips for trying to get the most out a household balance sheet, while at the same time acknowledging the reality of financial challenges.