Following a year when a virus spread worldwide and hospitalized approximately 32 million, medical bills began to pile up for many people who have since recovered. Many had already lost their jobs, creating financial uncertainty. Failing to pay medical bills can...
Helping With Your Financial Future
Year: 2021
Who is the automatic stay designed to protect?
If you file for Chapter 7 bankruptcy in California, you may be entitled to an automatic stay of creditor activity. The automatic stay may prevent a creditor from foreclosing on a house, repossessing your car or seizing a bank account. Generally speaking, the stay...
Can you buy a house after bankruptcy?
When a debtor in Escondido, California, doesn't see a way out of debt, bankruptcy can give them relief. However, a homeowner may hesitate to file because they have concerns about credit. It is possible to buy a home after bankruptcy, contrary to myths. Credit scores...
Do you lose your business if you file for bankruptcy?
California small business owners may worry about the ramifications of filing for business bankruptcy. Even though debts are overtaking profits, the business might be all that you have. Is it possible to save the company and still achieve debt relief through...
Understanding debtor in possession
Many business owners file for Chapter 11 bankruptcy protection from creditors and continue to operate the business throughout the process if the court accepts it. While this is not automatically an assignment that bankruptcy courts will sign off on, it is still very...
Car loans post-bankruptcy
Bankruptcy allows people who can't meet their debt obligations to wipe the slate clean and be relieved of some of their burden. People in California who file for bankruptcy should be aware that filing for Chapter 7 or Chapter 13 won't make it impossible for them to...
Why worry about the stigma of bankruptcy?
California residents might not always find their financial situation to be favorable. Debts may pile up, creating a source of worry and stress. Creditors could harass debtors, and even those wishing to pay their obligations may lack the means to do so. Bankruptcy...
Confirming the reorganization plan of a Chapter 11 bankruptcy
A Chapter 11 bankruptcy in California doesn’t wipe the slate clean. Rather, it reorganizes a company's financial obligations. It is a process that is open to some individual debtors as well. For the business owner, it’s an attractive option that lets a company operate...
Does Chapter 7 offer business owners a new start?
Businesses often fail, especially startups. California entrepreneurs that find their business dreams falling short could avoid feeling discouraged by keeping options open for starting over. Chapter 7 liquidation bankruptcy might not appear like a "bright event," but...
Could there be a new plan for student loan debt?
Throughout California, many people are working to pay down debt. One of the most common sources of debt comes from student loans, so many individuals are turning to the nation's president for relief from student loan debt. What is President Biden doing about student...