Articles Posted in Debt Relief

The Liviakis Law Firm has served the Modesto, California community for years, providing insight and counsel on various bankruptcy matters. One question we often receive concerns the implications of a debtor winning the lottery after filing for bankruptcy. This article seeks to shed light on this unique situation. Bankruptcy and Unexpected Windfalls When a debtor…

Understanding Bankruptcy: Can a Debtor Exclude Some Creditors? Bankruptcy offers a fresh start to those individuals or entities drowning in debt. It is a legal procedure that allows debtors to eliminate or repay some or all of their debts under the protection of the federal bankruptcy court. However, one question that often arises is whether…

The decision to file for bankruptcy is a difficult one and often comes with significant financial stress. One of the primary factors that deter individuals from filing is the initial costs associated with a bankruptcy case. However, the Liviakis Law Firm is here to guide you on how to save up for these costs effectively.…

Understanding Chapter 7 Bankruptcy Chapter 7 bankruptcy, also known as liquidation bankruptcy, involves the sale of a debtor’s non-exempt assets by a trustee. The proceeds are then distributed to creditors according to the priorities established in the Bankruptcy Code. What is a Preferential Payment? A preferential payment is any payment made to a specific creditor…

At Liviakis Law Firm, we understand that individuals struggling with debt often consider a myriad of solutions, one of which is a Debt Management Plan (DMP). However, while DMPs may seem like a viable option at first glance, they often do not provide the relief they promise. Here are some of the reasons why they…

In an era where medical expenses continue to climb, a significant number of individuals and families find themselves drowning in medical debt. Despite their best efforts to maintain their health and finances, unexpected illnesses or accidents can lead to overwhelming medical bills. Understanding the Impact of Medical Debt Medical debt can cast a long shadow…

Losing a job is an upheaval, triggering a domino effect on your financial stability and mental peace. For many, the immediate concern post-job loss isn’t just about finding the next opportunity but managing the looming shadow of debt without a steady income. In these challenging times, how you manage your debt can significantly impact your…

In a world where financial stability can feel like an unattainable dream, debt relief options stand as the light at the end of the tunnel for countless individuals struggling with overwhelming debt. This guide is designed to help you make informed decisions when it comes to tackling your financial burdens. Let’s explore the various paths…

Bankruptcy can be a stressful and emotional time for anyone. It can also be a time for a fresh start and a chance to regain financial stability. When you receive a debt discharge in Sacramento bankruptcy, it’s important to understand the next steps to take to ensure long-term financial success. In this blog post, we’ll…

If you’re like many Americans, you might have found yourself in a situation where debt has taken its toll on your credit score. Whether it was due to an unexpected expense or an inability to manage your finances, it can be difficult to repair your credit after debt. Fortunately, there are steps you can take…