A Chapter 7 bankruptcy is a legal action that allows a person to eliminate most of his or her debts. With respect to unsecured debts, such as general consumer debts, credit card debts, and any other debts that aren’t secured by some form of collateral, the vast majority, if not all, will be wiped out.Continue reading “How a Reaffirmation Agreement Can HelpYou During Bankruptcy”
Tag Archives: Bankruptcy
How Can You Avoid Falling into the Bankruptcy Trap?
There’s a familiar—and dangerous—cycle I regularly see with regard to debt and bankruptcy relief. Many people come to the conclusion that they’re carrying more debt than they can afford, so they file for bankruptcy, get relief from those debts, and then fall into the same debt-incurring behavior. Eight years pass, (the legal period between filingContinue reading “How Can You Avoid Falling into the Bankruptcy Trap?”
How Does Foreclosure Work?
In today’s economy, many people find themselves underwater with regard to their monthly expenses. When their total monthly debts amount to more than the money they’ve got coming in—and, as is usually the case, the monthly mortgage payment represents their larges expense—people sometimes opt to neglect this big debt and pay off their smaller, moreContinue reading “How Does Foreclosure Work?”
Protect Your Assets by Keeping Records
When two people fall in love and decide to get married, they don’t want to consider the possibility that at some time in the future they may no longer feel the same way about each other – and that the experience of separation and divorce might turn ugly over issues of community assets and debtContinue reading “Protect Your Assets by Keeping Records”
What Happens in Small Claims Court?
Clients sometimes come to my office regarding a claim they have on a defaulted personal loan or they want to retrieve a security deposit from a landlord or have some other matter where money is due them. In many cases, the amount they claim is too small to warrant being handled in acivil court ofContinue reading “What Happens in Small Claims Court?”
Timing is Critical for Divorce/Dissolution of Domestic Partnership andBankruptcy Filings
Debt and other money issues are often at the root of divorce or the dissolution of domestic partnerships. But these problems don’t just go away once a couple separates. When debt is incurred by spouses or domestic partners in their joint names (and, in some cases, in just one party’s name), creditors can go afterContinue reading “Timing is Critical for Divorce/Dissolution of Domestic Partnership andBankruptcy Filings”
Too Poor to File for Bankruptcy?
According to a study by the Federal Reserve Bank of New York, changes originally enacted in 2005 to the Bankruptcy Abuse Prevention and Consumer Protection Act have made it substantially more difficult for “financially struggling people” to file for bankruptcy relief. While it’s true that changes like these have made it tougher for people toContinue reading “Too Poor to File for Bankruptcy?”
What Happens If You Get A Collection Notice
Getting a collection notice in the mail is never a fun thing. But it’s also not a reason to panic. In California and other states, there are very strict rules about the proper way to prepare and distribute a collection notice. So if you receive one, I recommend investigating the following factors before taking anyContinue reading “What Happens If You Get A Collection Notice”
When Should a Bankruptcy Attorney Get Involved?
As in other areas of law where the courts are involved, in cases of bankruptcy, an attorney is not absolutely required. People often represent themselves in court. Many of the cases I take on are with men and women who have gone that route and been told by either the presiding judge or a trusteeContinue reading “When Should a Bankruptcy Attorney Get Involved?”
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