Americans paid off record amounts of debt between 2000 and 2022. During the second quarter of 2020, people living in California and other United States locations paid off $76 billion of credit card debt and an additional $49 billion in the first quarter of 2021. The...
Helping With Your Financial Future
Year: 2023
How will your life change under Chapter 7 and Chapter 13 bankruptcy?
Bankruptcies are filed every day in California. If you have amassed significant debt, you may consider filing for bankruptcy to free yourself of this burden. You should realize, however, that life after bankruptcy can be very different. The consequences can shape your...
Successful policies have helped lower medical debt
From 2020 to 2022, the number of those who had some form of medical debt on their credit report dropped by 17.9%. That's about 8.2 million individuals, according to the U.S. Consumer Financial Protection Bureau's report. For people in California dealing with medical...
Are my retirement accounts protected from bankruptcy seizures?
When you overextend yourself financially and cannot pay your bills, creditors may start filing lawsuits to seize your assets. Under normal conditions, your retirement money may be vulnerable to these claims. However, once you file for bankruptcy in California, federal...
What property can you keep when you file for Chapter 7 bankruptcy?
California residents with massive debt might find that they have no option other than bankruptcy. If alternatives like debt relief are not the answer, Chapter 7 bankruptcy might be appropriate. A notable benefit of going this route is that some property is protected....
Rebuild credit after bankruptcy
Excessive debt might prove so massive that a person files for bankruptcy in California. This process provides a way to resolve the situation and find a fresh start. Some might worry about the negative impact Chapter 7 or 13 has on a credit score, but there are ways to...
Bankruptcy’s automatic stay
Debt situations could make life challenging for those unable to cover their obligations. When debt levels become so high that repaying creditors proves impossible, the debtor may file for bankruptcy in a California federal court. Many look towards Chapters 7 and 13 as...
What should you know about Chapter 11 Bankruptcy in California?
If a business cannot pay its debts, it may file for Chapter 11 bankruptcy. The ultimate goal of this type of bankruptcy involves reorganizing debts to make paying creditors feasible. Chapter 11 eligibility Primarily, businesses file for Chapter 11 bankruptcy. These...