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May 2015 Archives

Overview of a good credit score

Most of our Escondido readers know that one of the most important things to do in the wake of a bankruptcy filing is to begin working on rebuilding credit - and possibly even improving it. Previous posts here have made it clear that the common belief that a person will have to deal with poor credit for a period of time after a bankruptcy filing is not a myth. However, that doesn't mean that the road to recovery is impossible.

When credit card debt leads to bankruptcy

As previous posts here have mentioned before, credit cards can be useful financial tools in the right circumstances. Many people use credit cards for the various rewards programs that many of the credit card companies promote with their cards. Others use their credit cards to build up a solid credit history in anticipation of making a larger financial transaction sometime down the road, such as applying for a car loan or a mortgage. Unfortunately, financial hardships often force people to use their credit cards in ways that could lead to the buildup of unmanageable credit card debt.

Using a credit card wisely to avoid overwhelming debt

Millions of Americans have at least one credit card. Many residents of San Diego use credit cards on nearly a daily basis, and many have more than one credit card. Unfortunately, the result tends to be that there are a lot of people out there who have quite a bit of credit card debt building up.

How do you get started on a Chapter 11 bankruptcy filing?

Many businesses in the Escondido area and throughout California did their best to get through the economic recession that hit the country several years ago. The recovery from those difficult times has been easier for some companies than it has been for others, however. Unfortunately, not every business has been able to remain profitable or get out from under overwhelming debt. For some companies it may be time to think about filing for Chapter 11 bankruptcy.

Company with famous California store files for Chapter 11

Some of our Escondido readers may be familiar with the clothing retailer Frederick's of Hollywood, a company with a famous flagship store in Hollywood. The company specializes in lingerie, and for years was a popular spot in shopping malls across the country. Unfortunately, because of the constantly decreasing amount of shoppers at malls - and, as a result, less revenue - the company recently filed for Chapter 11 bankruptcy protection.