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New California Debt Collection Legislation Passed

Debt collectors licensed in the state of California have new requirements that will go into effect starting January 1st, 2019. California Governor Jerry Brown signed Assembly Bill No. 1526 into law on September 5th, 2018, which will amend the Rosenthal Fair Debt Collection Practices Act. This Act regulates debt collection practices among the debt collectors […]

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Lowe's Shuts down Bankrupt California Hardware Chain

The hardware supplier, Orchard Supply Hardware, started 87 years ago in 1931, will be serving its last customers in California, Florida, and other states in 2018. Orchard Supply began as Orchard Supply Farmer Co-op, a modest co-op formed by 30 farmers based in the San Jose, California area. Orchard was started and thrived in the […]

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Fairfield Bankruptcy Watch: Mission Solano

Mission Solano, a California homeless shelter announced this week that its board of directors is pursuing Chapter 7 bankruptcy  this week and will eliminate its nonprofit status. Business bankruptcy in Fairfield, CA offers the benefit of reducing debt for a struggling company.  The shelter has struggled to obtain additional bridge funding over the past several […]

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Bankruptcy Closes Toys R Us Stores

A beloved childhood icon that brought warm memories during our childhoods will be no more by the end of 2018. Toys R Us filed bankruptcy in September of 2017 citing huge losses that caused an inability to answer debt payments by the toy seller. In both a sad and slightly worrisome announcement this week, Toys […]

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What Are the Rules Governing Debt Collection?

If you are in the predicament of being behind on payments, you have most likely received an attempt to collect the debt from the company or person. While debt collection “bullies” are less common due to more awareness of debt collection laws, there may be instances where you are faced with false representation, threats, and […]

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US Household Debt Still on the Rise

US Household Debt Still on the Rise

As we enter the last two shopping weeks before Christmas, more and more people are reaching for their credit card, and unintendedly adding to the record level of consumer debt in America. The total household debt in the United States continued its rise last quarter reaching just under $13 trillion dollars total. Additionally, the Federal […]

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How Debt Affects Your Health

Anyone who has been in debt knows that it can be a stressful situation. Consequently, a number of studies have shown an adverse relationship between debt and your physical and mental health. These studies compile data using panel surveys, epidemiological surveys, and psychological autopsy studies and have found a strong relationship between debt and poor […]

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After Bankruptcy California Tests New Welfare

After Bankruptcy, California is testing a new form of welfare called “universal basic income”. The new universal basic income, or UBI, is initially funded by a tech group called the Economic Security Project, which has put together a multi-million dollar grant to help fund the new privatized welfare. The community engagement initiative will aim at […]

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How Many Bankruptcies are Due to Medical Debt?

An unexpected traffic accident, the sudden onset of a major disease, or an extended hospital stay due to illness or injury are a few of the emergencies that can cause an enormous spike in medical expenses and consequently, push an individual towards seeking bankruptcy protection. A recent study, however, was aimed at finding out just […]

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Sacramento Traditional Jazz Society

In a severe blow to Jazz lovers in the area, the Sacramento Traditional Jazz Society filed for Chapter 7 bankruptcy protection this week, putting an end to the Sacrament Music Festival, previously known as the Sacramento Jazz Jubilee. The non-profit filed a voluntary petition for Chapter 7 bankruptcy protection with the US Bankruptcy Court of […]