Bankruptcy In California: Consider The Alternative

March 17, 2023
Bankruptcy In California: Consider The Alternative According to the United States Bankruptcy Court, in the Central District of California there were a total of 57,714 bankruptcy filings in 2021. This includes both personal bankruptcies and business bankruptcies. As of September 2021, California’s total outstanding debt was approximately $295 billion. $10.1 billion was in Tax debt.…

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Considering Filing? You Need To Know What Happens When You File Bankruptcy

March 9, 2023
Considering Filing? You Need To Know What Happens When You File Bankruptcy What is Bankruptcy? Thinking about filing bankruptcy? Bankruptcy is a court proceeding in which a judge and court trustee examine the assets and liabilities of individuals and businesses who can’t pay their bills and decide whether to discharge those debts so they are…

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Why is Chapter 13 Bankruptcy a Bad Idea?

February 24, 2023
Bankruptcy laws exist for those whose debt has become unmanageable. Whether it’s bad fortune or financial irresponsibility, filing bankruptcy does provide the opportunity to alleviate the debt. In the United States system, the two most common types of bankruptcy are Chapter 7 and Chapter 13. In Chapter 7 bankruptcy debtors can erase debts with an…

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Bankruptcy: What Are The Three Main Types?

February 17, 2023
Bankruptcy: What Are The Three Main Types? What is Bankruptcy? Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order.  What is a Bankruptcy Court Proceeding? During a…

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Pros and Cons of Filing Bankruptcy

February 14, 2023
Pros and Cons of Filing Bankruptcy Bankruptcy can provide relief from debt but will affect your credit score and ability to apply for credit. Learn about all the pros and cons of bankruptcy. You may think of bankruptcy as either a disaster or a magic bullet that makes the consequences of bad financial decisions disappear.…

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