Can I File for Bankruptcy if I am Unemployed?

Admin on November 15, 2020 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

People who file for Chapter 7 bankruptcy must meet certain income qualifications. In most  cases, debtors who fail to meet income requirements do not qualify for Chapter 7. People with higher income levels often must pursue a repayment plan under Chapter 13 to take control of debt. People who are currently unemployed or who have […]

What Changes to California’s Homestead Exemption Mean for Your Bankruptcy

Admin on October 15, 2020 Posted in Bankruptcy News, Blog, Types of Debt in Bankruptcy

In a recent poll conducted by TheTrackr.com, 29% of Americans reported that their home was their most valuable asset. Homeownership plays a critical role during the bankruptcy process. The role that homeownership plays in the bankruptcy, however, is about to change substantially due to legislation that has been passed by the California state legislature and […]

Exceptions to the Automatic Stay

Admin on July 30, 2020 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy

An automatic stay is one of the critical parts of filing bankruptcy. The stay stops most collection efforts against a debtor as soon as that individual files for bankruptcy. These orders exist without the need for a court order. To give you a better idea of the role that the automatic stay plays in a […]

What Assets are Exempt in California Chapter 7 Bankruptcies?

Admin on March 15, 2020 Posted in Bankruptcy Law, Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

Individuals in California who file for bankruptcy are often given a second chance at building a strong credit record. This does not come without a compromise, though. When Chapter 7 bankruptcy is involved, a person must often hand over a substantial amount of their estate in the process. A bankruptcy trustee then manages the estate […]

Bankruptcy and Medical Debt

Admin on February 25, 2020 Posted in Blog

Many people in California and the rest of the United States view bankruptcy as a last choice option. Unfortunately, each year many people end up pursuing this option because they have accumulated a large amount of medical debt and are unable to pay it off. One study even found that greater than 66% of all […]

Bankruptcy and Your Credit Report: Separating Fact from Fiction

Admin on January 11, 2020 Posted in Bankruptcy Law, Blog

Whether or not to file for bankruptcy is a complex decision, and many factors influence whether it is a good idea for you. One area that many people ask questions about when filing for bankruptcy is credit scores. People are not just concerned about how bankruptcy will impact their credit score, but also if they […]

Important Things to Know About Divorce and Bankruptcy

Admin on October 9, 2019 Posted in Blog, General Bankruptcy

Divorce can be more draining on your emotions as well as the quality of your life than you might have imagined. When divorce is combined with bankruptcy, this often means that the process is much more stressful. These two difficult life periods, however, have a unique relationship with one another. Divorce is often viewed as […]

12 Steps You Should Take Now to Prepare for Bankruptcy

Admin on July 15, 2019 Posted in Blog, General Bankruptcy

Facing debts that you are not able to pay is a scary situation. Many people who struggle with unmanageable debt do not believe they have any options.  While filing for bankruptcy to manage this debt is a solid option for many, not everyone is certain about what the bankruptcy process entails or how to best […]

Unique Issues with Disability and Bankruptcy

Admin on May 8, 2019 Posted in Bankruptcy Law, Blog

The Social Security Administration reports that there are approximately nine million individuals who receive social security disability benefits. Due to the amount of these benefits, however, it can prove challenging to pay for monthly living costs. As a result, many people supplement their disability income with credit cards, which can eventually lead to significant debt. […]

Understanding the Chapter 7 Bankruptcy Means Test

Admin on March 15, 2019 Posted in Blog, Chapter 7 Bankruptcy

While many people have heard of the bankruptcy “means test,” they are uncertain about what exactly this test includes. The means test is used to determine if a person’s income is low enough to qualify to file for Chapter 7 bankruptcy. The purpose of this test is to block individuals with higher salaries from filing […]