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

February 2016 Archives

Small business owners and bankruptcy exemptions

Some of our Escondido readers may have seen recent posts here regarding bankruptcy exemptions and the importance of considering these various exemptions while planning a bankruptcy filing. There is no question that bankruptcy exemptions can play a critical role when an individual or family is facing the decision of whether or not to file for bankruptcy, but what about those individuals who are small business owners?

What is a schedule of 'exempt' property in a bankruptcy filing?

Anyone in California who begins the process of evaluating whether or not to file for bankruptcy will usually find out quick enough that there are quite a few steps in the process, and that complications can arise easily. Of course, most people know the basic premise of filing for bankruptcy, especially Chapter 7 bankruptcy: liquidate some assets and discharge debt. But, as previous posts here have mentioned, most people who file for bankruptcy may be able to keep some of their assets by filing a "schedule of exempt property."

Rebuilding credit after filing for bankruptcy

Our Escondido readers who are familiar with previous posts on this blog may know that filing for bankruptcy is not the financial "bombshell" that many people make it out to be. In fact, these laws are intended to help consumers face their financial challenges, get out from under the burden of overwhelming debt and move forward in life free from creditor harassment.

California taxi company files for bankruptcy; start of a trend?

Escondido readers may be familiar with the quasi-taxi cab style companies Uber and Lyft. These services, fast on the rise in California and throughout the country, are especially popular with people who live in urban locations, as well as those who know how to quickly and easily use technology. But, as many business people in California know, the rise of a new type of service can quickly lead to the end of another.