Bankruptcy Law Blog

When consumers face massive amounts of debt that they can’t pay back, U.S. bankruptcy laws can help legally abolish certain debt obligations. This frees people up to pay back the debts that can’t be discharged and gives them a new financial start. Individuals and sole proprietorships have two options when filing for a California bankruptcy:…

If you have fallen behind on your payments and are struggling to pay your bills, you may have tried other alternatives to get back on track. If you tried speaking to bill collectors and making arrangements only to fall back behind again because either they were inflexible or you are overwhelmed in debt in other…

Getting behind in your payments can be a result of several things, job loss, medical bills, unexpected expenses to name a few. If you owe more money then you have assets, you are considered “upside down” in your debt. Even by selling everything you own, you still would not have enough money to pay back…

Insolvent consumers who are not able to stay current with their mortgage payments may face foreclosure proceedings from their mortgage lender. Due to the number of California foreclosure avoidance measures available to you, avoiding these mistakes will help steer you in the right direction toward defense against foreclosure. Waiting too Long to Take Action Waiting…

A bankruptcy trustee is a representative who works for the Department of Justice and represents your estate during the bankruptcy proceeding. In the state of California, a Bankruptcy trustee is assigned to every Chapter 7 bankruptcy case. Working with a trustee during Chapter 7 bankruptcy is an essential aspect of completing the bankruptcy process and…

Budgetel Inn in Modesto California filed for Chapter 7 bankruptcy this past week. United Resorts LLC operates the nearly 100 room Budgetel Inn and hopes to liquidate its assets to pay off the motels debts. According to the court documents filed, United Resorts debt includes $61,439 in lease payments, $99,534 to California Department of Industrial…

Due to an increase in consumer debt, the number of debt settlement agencies is on the rise. Debt settlement is a legal way to pay off your creditors at possibly a reduced rate. Many debt settlement firms are legitimate and helpful, but not all are created equal. There are many illegitimate agencies out there looking…

How tax debt is handled in an Elk Grove bankruptcy depends on several factors. Despite your preconceived notions, it is possible to eliminate tax debt with bankruptcy. When tax debt cannot be deleted using bankruptcy another option is to have the tax debt repayment spread over a period of up to five years. Whether you…

As a Bankruptcy attorney in Sacramento California, questions about obtaining a small business loan after bankruptcy are reasonably common. Specifically, small business owners who have declared personal bankruptcy in California in the past want to know if a small business loan is within their grasp. While the general impression is that a lender will not…

For most people, the thought of filing for bankruptcy weighs heavily when considering debt relief options. With all of the questions and unknown aspects, most people are falsely intimidated by bankruptcy. When you have tried other options such as debt consolidation loans, borrowing money from banks or family, paying monthly bills with your credit cards…