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Chapter 11 Bankruptcy process has two sections. The marker that separates the two phases is the mandatory court approval of the Plan of Reorganization. The two Chapter 11 Bankruptcy phases are the pre-confirmation and post-confirmation in Escondido, California. Most...
Bankruptcy protection isn't just for individuals: Businesses may file for bankruptcy when they fall on hard times and cannot pay their obligations. A California business may turn its fortunes around in time and become profitable again. Chapter 11 provides a way for...
California residents in Chapter 7 bankruptcy may wonder if they can obtain car loans later. Here's what you should know about getting a car loan post-Chapter 7. How does bankruptcy affect your credit? Chapter 7 bankruptcy allows some property to be liquidated so that...
Bankruptcy in Escondido, California, can be a positive thing to get rid of some debt regardless of the negative stigma surrounding it. Many consumers chose Chapter 7, which requires selling non-exempt assets, or Chapter 13, a repayment plan. It helps knowing what to...
If consumers are overwhelmed with debt, they commonly choose bankruptcy, but they may hesitate, thinking they have to give up everything. While Chapter 7 requires consumers in Escondido, California to sell nonexempt assets, some assets may be saved with exemptions....
After filing for bankruptcy, it's normal to see your credit score drop. Bankruptcy filings can stay on your credit report for seven years if you filed Chapter 13 or 10 years if you filed Chapter 7. Fortunately, California residents can take certain steps to rebuild...
Bankruptcy is an option for debtors in California to help pay off debt. While there are many different types of bankruptcy, Chapter 11 is a specific kind that’s available for certain debtors. You should know what Chapter 11 bankruptcy entails and who’s eligible to...
California residents filing for bankruptcy will need to take special notice of any IRS adjustments to their tax liability. In an appellate bankruptcy discharge filing, the Ninth Circuit upheld an opinion that taxpayers must file a report of change to the California...
It isn't uncommon to use credit cards to pay for groceries, gas or other daily expenses. However, if you are unable to pay your credit card balances each month, your debt can quickly spiral out of control. Depending on the amount of debt that you have, it may be...
A consumer in Escondido, California, can get relief from some debts they see no way of paying using bankruptcy. However, they may have concerns over losing all of their property. Exemptions can possibly help them keep it. Assets in bankruptcy Chapter 7 requires the...