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: Debt
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?”
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?”
Take Care of Your Legal Needs
It’s more than half way through the year so this is a great time to take care of some essential legal planning responsibilities – and you’ll feel much better when you do. Estate planning Many people mistakenly think of an estate plan as something that matters only when they die, but there’s really much moreContinue reading “Take Care of Your Legal Needs“
Tips on Avoiding Foreclosure Scams
Anyone facing the possibility of foreclosure on their home is in serious financial distress. People in these situations are susceptible to undue influence and can be easily misled into making bad decisions. It’s a sad but true fact—there are many unscrupulous third parties who won’t hesitate to take advantage of someone desperately seeking a wayContinue reading “Tips on Avoiding Foreclosure Scams”
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”
What Happens When You Marry Someone with Support or Debt Obligations?
These days, it’s not uncommon for a person to marry someone who comes with some financial “baggage”— that is, with debts or support obligations of some kind. Here’s a fairly typical scenario: Jane comes to my office seeking information about getting a prenuptial agreement. Her fiancé, Frank, is saddled with several types of obligations. HerContinue reading “What Happens When You Marry Someone with Support or Debt Obligations?”
Why You Should Regularly Check Your Credit Report
We use credit for almost everything these day – when renting an apartment, financing a large-scale purchase like a car, or simply buying groceries at the supermarket. But you may not be aware of the fact that all of your credit transactions are recorded and compiled – and that landlords and employers frequently check anContinue reading “Why You Should Regularly Check Your Credit Report”