One advantage of a Chapter 7 bankruptcy in California is the short amount of time a debtor can obtain debt relief through a bankruptcy discharge. How fast is a Chapter 7 bankruptcy in California you may ask? While the amount of time a Chapter 7 bankruptcy can be different for everyone depending on their circumstances,…
Continue reading ›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:…
Continue reading ›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…
Continue reading ›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…
Continue reading ›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…
Continue reading ›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…
Continue reading ›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…
Continue reading ›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…
Continue reading ›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…
Continue reading ›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…
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