Helping With Your Financial Future
The realization that you have to file bankruptcy to get on top of your financial situation again can bring up a lot of difficult feelings. One of these is the fear that you’re going to lose all of the assets that you worked hard to purchase. Before filing, you should...
If you declare Chapter 7 bankruptcy, you have to liquidate certain assets. There is a list of exemptions, but non-exempt assets may need to be liquidated so that the money can then be used to pay off a portion of what you owe. This likely will not cover the entire...
The fear of losing everything — their home, car, and personal belongings — to their creditors is a common concern for those considering bankruptcy. It's also not true. But this misconception keeps many in the Escondido area from seeking the relief they need. The truth...
When you file for Chapter 7 bankruptcy in California or any other state, you may be forced to give up your home, car or other assets. However, it's also possible that you can exempt certain assets from being seized or at least protect a significant portion of an...
In California, when you have certain types of debt canceled, such as through bankruptcy, you are no longer obligated to repay the money to your creditor. However, this can come with a catch. Sometimes, you may have to pay taxes on the forgiven debt. The following...
Filing for bankruptcy may be an effective way to reduce or eliminate personal or business debts. Depending on the circumstances of your case, it may be an effective way to reduce or eliminate personal debts that were incurred to run your business. If your company is...
There's a common myth that filing for consumer bankruptcy costs you everything you own. That bankruptcy means creditors seize or force you to sell all your possessions until you walk away debt-free, but with nothing more than the clothes on your back. This prospect...
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...
California homestead exemptions are a set of laws that protect a homeowner's equity in their residence from being seized to pay off creditors. These exemptions can be particularly useful for individuals facing financial difficulties, such as those who have filed for...
Going through a difficult financial time can be one of the most stressful and worrisome experiences. Bankruptcy is often a sensible solution to getting things in order and clearing your debts. But, one of the greatest fears that most California residents face is the...