California residents who are thinking of filing for bankruptcy are likely feeling overwhelmed at what lies ahead. With so many questions about what happens during the process and what items may be taken away from you, it's important to stop and take the time to learn...
Helping With Your Financial Future
Year: 2021
How a Chapter 7 discharge works
Chapter 7 bankruptcy gives California consumers a way to make a fresh start if they have mounting debts they can no longer pay due to unforeseen circumstances. The trustee divides the proceeds from the selling of non-exempt assets, such as jewelry, among the secured...
Common myths about filing for bankruptcy
California citizens who are over their heads in debt may have considered filing for bankruptcy. Unfortunately, there's a lot of misinformation out there regarding the topic of bankruptcy. By understanding some of these common myths, you can better determine whether...
Why would a business want to file Chapter 11 bankruptcy?
Chapter 11 bankruptcy is an effective method of restructuring liabilities for a California business that is facing financial struggles. Some businesses are experiencing so much financial chaos that even bankruptcy will not help, but others can sometimes manage to...
How the Chapter 7 bankruptcy means test works
Debtors in Escondido, California, may get relief from certain debts by filing bankruptcy through liquidating assets in Chapter 7. Many debtors choose Chapter 7 because they get a quicker discharge, which is usually three to four months. However, a debtor must pass a...
The new Chapter 10 bankruptcy proposal may not be necessary
Senator Elizabeth Warren has submitted a proposal to set parameters for the upcoming shift in policy regarding delinquent student loans for those strapped with debt after college, including Californians. The legislation that has been put forth sets up a new bankruptcy...
The differences between Chapter 7 and Chapter 11 bankruptcy
If a debtor in Escondido, California, feels they can no longer manage debt, they may file bankruptcy. Bankruptcy is a legal process that allows a debtor to remove some debts. Two common types of bankruptcy include Chapter 7 and Chapter 11 bankruptcy, but they differ....
Why is bankruptcy sometimes unavoidable?
Millions of people run into financial problems, and some may find their fiscal situation becomes overwhelming and seemingly impossible to address. Persons struggling with financial problems in California have an option available to them. Filing for bankruptcy might...
Property that might be exempt in a bankruptcy case
If you file for bankruptcy, some of your assets may be liquidated in an effort to pay down existing debt balances. However, certain types of property may be exempt from being liquidated or otherwise taken from you. For instance, federal law says that you can keep up...
Ideas for getting a mortgage after Chapter 7 bankruptcy
Every year, hundreds of thousands of Americans file bankruptcy. Although they understand that bankruptcy can have long-lasting financial implications, it's sometimes the only reasonable way to get out of debt. Despite these implications, it's still possible for...