Many carriers of debt avoid bankruptcy in fear of endangering the ownership of their homes. This fear should be somewhat alleviated by a significant increase in the homestead exemption also referred to as a home equity exemption limit allowed in California bankruptcy courts. Since January 1 of 2021, California bankruptcy...
Read more
Filing Bankruptcy During Shutdown: What You Need to Know
How Are the Bankruptcy Courts Operating? Covid-19 has halted, slowed, or changed things we depended on in the past, but the process of filing a consumer Chapter 7 or Chapter 13 bankruptcy has become manageable and simple with the new options that courts and bankruptcy trustees have made available. Filing...
Read more
Late Payments More Danger Than Bankruptcy
Generally, people spend their whole lives avoiding bankruptcy as a last resort. Bankruptcy is viewed as a public filing and has a stigma of shame behind it. Some people would rather continue to suffer through late payments on their accounts than face a real solution to the debt. A late...
Read more
Your Credit Card Balance Can Impact Your Future
Credit card companies are great at sending you promotions where low interest rates are offered for cash funds or for offering low interest rates to transfer a credit card balance. The low interest rates can sometimes be as low as 0%. It may seem like you aren’t paying for your...
Read more
Gymboree Declares Bankruptcy
Gymboree, the well-known children’s apparel store, has filed for bankruptcy on 6/11/2017. The bankruptcy filing is Gymboree’s strategic move to restructure their debt. Gymboree plans to continue to operate the business as it restructures. There are a few lessons to learn about debt and how to manage overwhelming debt when...
Read more
Today’s Household Debt
Household Debt Composition Today Looks A Lot Different Than The Past Household debt has reached higher levels than before the Great Recession, but today’s debt has new characteristics that make it much more different than pre-recession times. Home mortgages were a major factor in the debt crisis of 2007-2008. Mortgage...
Read more
Is It Too Late To File Bankrupt?
Are You Out of Time? You’ve given up on paying your debt and balances are piling up with penalties and legal fees. At this point, you don’t see any hope in finding a solution to the debt, but you do have a business prospect coming very soon. There could be...
Read more
Paying Student Loans With Other Debt
Off the cuff, it might sound like a good idea to pay off a debt that cannot be discharged in a bankruptcy with another new debt that can be discharged in a bankruptcy, and then plan to file a bankruptcy to discharge the debt. Could you devise a plan like...
Read more
Chapter 7 Requirements
When considering a Chapter 7 bankruptcy, you may wonder what information you need to provide to get a Chapter 7 filed. Maybe you haven’t kept good files or records of your finances. You might imagine that the required paperwork could be too much for you to handle. The surprising fact...
Read more
Credit and Debt Tips For 2017
Managing and building credit and debt can be one of the most important aspects to pay attention to in adult life. Many times, we are thrown into a life of debt management immediately after graduation from high school or college. Student loans might be the first interaction with debt, but...
Read more