Blogs

When you are watching every penny, you sit at home and make financial calculations in your mind while other people are out engaging in leisure pursuits, or so the influencers on YouTube would have you believe, then you try to spend your free time on income-generating activities, or at least on doing things that do…

If you are bummed out about the fact that everyone in California has been in a foul mood for as long as you can remember, count your blessings. Try driving a few states east to Utah or Texas, where the older generations have managed to impress upon their daughters, even in these turbulent times, that…

In a perfect world, no one would need to use credit cards, but a perfect world is so far away that you have already maxed out one credit card with grocery purchases and other expenses that no one would consider luxuries, and now you are running up the balance on at least one other card.…

How bad your finances are is, at least partially, a matter of perspective. Sure, you don’t have any money left at the end of the month to put into savings. If you are so optimistic that you transfer a percentage of your paycheck into savings every payday, then you end up transferring it back into…

After introductory quotes from texts in Latin, Classical Greek, and Italian, T.S. Eliot’s poem “The Wasteland” begins, “April is the cruellest month.” It is true that April is not especially cuddly, but all of the months are cruel these days. It is as if the financial death toll of the Christmas holidays never ends. Chances…

You were married with a family. Now you have finished a difficult divorce. The circumstances exhausted you and caused much heartache. Not only was it emotionally taxing, it was also financially draining. You and your spouse were living together under one roof and both of you contributed to the household costs. Then you split from…

When a debtor files a Chapter 13 case, section 1301 0f the United States Bankruptcy Code bars (or stays) creditors from collecting “consumer debt” from a non-bankrupt individual who is responsible for that debt along with the debtor. Generally, the stay is in effect until the case is closed, dismissed or is converted into a…

Chapter 13 bankruptcy proceedings are for people who would like to reduce and discharge debts, while keeping certain assets, such as their home, cars, and retirement accounts and investments. Not everyone will be eligible to file a Chapter 13 proceeding though.   There are several requirements debtors must meet in order to qualify for this…

Chapter 13 bankruptcy proceedings allows debtors to pay back some of their debt on a more relaxed schedule. However, because this type of bankruptcy allows creditors to recover a portion of the money owed, not everyone is allowed to file Chapter 13 bankruptcy. In order to be eligible for Chapter 13 proceedings, your Bay Area…

One of the factors to consider when learning about which bankruptcy process may be right for you and your family is the type of assets you possess and whether they are considered exempt or nonexempt under the law. Your California bankruptcy attorney can examine your assets and help you determine how to proceed.   Chapter…

The Importance of Homestead Declarations Homestead declarations are a unique feature of California law that protect a certain amount of equity in your home from creditors. While not required before filing for bankruptcy (or for any legal reason), filing a homestead declaration with your local county recorder’s office is always recommended, and can be especially…

When Credit Card Debts Aren’t Dischargeable In addition to medical bills, one of the leading causes of bankruptcy in the United States is too much consumer debt, largely from credit cards. Chapter 7 bankruptcy in particular can be extremely appealing to those with lots of credit card debt as it promises to completely discharge all…

Most people know that alimony and child support obligations can never be discharged in bankruptcy. The media and politicians are very fond of reminding people that student loans can’t be discharged in bankruptcy (though there are some exceptions to this rule). While those two exceptions to bankruptcy law are well-known, there are also several other…

If you ask someone where you file for bankruptcy, they’ll probably tell you “in court.” More specifically, you file for bankruptcy in federal court. And if we’re really getting detailed here, you will file bankruptcy in the federal district in which you reside. California has four districts (Northern, Central, Southern and Eastern), with the Central…

Chapter 7 bankruptcy is the preferred type of bankruptcy for many California residents because it ultimately results in most types of debt being completely forgiven. But what keeps many debtors from filing for Chapter 7 bankruptcy is the means test. Under the means test, you must show the court that you qualify for Chapter 7 bankruptcy…