Bankruptcy Law Blog

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…

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…

Bankruptcies often land in the headlines when a big-name celebrity files for Chapter 11. We often hear of companies such as restaurants or big box retail stores in our own neighborhoods declaring bankruptcy. Even the President of the United States has owned or operated businesses that have utilized bankruptcy law to reorganize debt. So just…

Many individuals who visit a bankruptcy law firm in California fear attending court as a step towards filing Chapter 7. The 341 meeting of the creditors is usually the one and only court appearance individuals filing for Chapter 7 bankruptcy must attend. Additionally, the 341-meeting experience is typically a less stressful court appearance than a…

You’ve planned and budgeted for your retirement and now you seem to still be falling behind in payments. Perhaps you’ve lowered your standard of living because of unforeseen medical expenses. Maybe you’re spending more on expenses like co-payments for prescription medications than you originally planned for. It’s possible that your pension has diminished from when…

One of the main reservations bankruptcy law firms see from individuals regarding filing for Chapter 13 bankruptcy is the initial uncertainty surrounding how long the bankruptcy will last. Chapter 13 bankruptcy requires debtors to enter into a repayment plan with the US Bankruptcy Courts, paying monthly installments to the bankruptcy trustee who then divides the…

Chapter 13 bankruptcy requires fiscal discipline and the willpower to stick to a budget in order to eliminate your debt. It’s tough, but countless individuals have been through the process, eliminated their debts, and received a fresh start with their finances. People find Chapter 13 bankruptcy difficult mainly because they aren’t accustomed to staying on…

It’s been a long road for Corinthian Colleges, Inc. students who were blindsided by campus closings and subsequent Chapter 11 bankruptcy in 2015. Since then, students who took out loans to attend the for-profit, post-secondary education institution have been fighting to have their loans forgiven. Of the many individuals that attended the college, roughly 35,000…

For individuals unfamiliar with bankruptcy, there are numerous myths surrounding the popular form of debt relief. It’s important to know exactly what bankruptcy can and can’t do before embarking on filing for Chapter 7 or Chapter 13 bankruptcy. Because of the long-lasting financial and personal ramifications, it’s highly recommended that you consult a professional bankruptcy…

Filing a California bankruptcy requires debtors to disclose all assets. Once you have listed all assets you can then apply exemptions to certain types and values of the property. These bankruptcy exemptions protect that specific real and personal property from being lost. The 180-day rule regarding windfall receipt of assets is an integral part of…