Bankruptcy can be a practical legal tool when struggling with financial hardship and an inability to manage debt. While you may be able to reduce what you owe, not all types of debt can get wiped out in bankruptcy. Several factors may impact your ability to discharge...
What are the qualifications for bankruptcy?
For many people, bankruptcy provides some relief from stressful debt and persistent creditors. Although anyone in the United States could file for bankruptcy, there are eligibility requirements that determine which type to file and the potential for approval. Debt...
How often can I file for bankruptcy in California?
If you've filed for bankruptcy before and wonder if you can file again, the answer is yes. However, when you can file depends on what type of bankruptcy you filed initially and when you filed it. The length of the waiting period for an additional filing depends on...
Should you reaffirm your loan during bankruptcy
Filing for bankruptcy can help those struggling with mortgage expenses, credit card debt and loan payments. Bankruptcy offers people a fresh financial start, free from the burdens of living to make the next payment. Chapter 7 bankruptcies, otherwise referred to as...
The benefits of filing chapter 7
Fear can be debilitating, especially when it comes to possibly losing your house due to bankruptcy in California. Filing Chapter 7 is the last resort if you have overwhelming debt. However, it can help you get out of the financial hole you may find yourself in due to...
Tips for creating a debt repayment plan
Perhaps you had unexpected medical bills or necessary car repairs that insurance did not cover. Maybe your employment situation changed without warning. There are many reasons why you may find yourself in debt. When you decide that you want to work your way out of...
What are the important points to know about Chapter 13 bankruptcy?
When you file for bankruptcy, you must decide under which chapter to file. Chapter 13 is one option that allows you to try to repay your debt instead of discharging it completely. According to the U.S. Department of Justice, Chapter 13 provides you with some perks,...
How will Chapter 11 change my business?
Deciding to file for Chapter 11 bankruptcy is a difficult but necessary step for many businesses facing financial insolvency. While Chapter 11 may give your business a chance to survive, you may wonder how much your business will change because of the bankruptcy. ...
The differences between debt consolidation and refinancing
If you are a California resident who is struggling to pay your credit card balances, it may be a good idea to consider a balance transfer. If you also have student loan, auto or other types of debt, a consolidation loan might be a good way to reduce your monthly...
How bankruptcy’s automatic stay offers relief from creditors
When you become unable to stay on top of your finances due to sudden medical debt or other circumstances, you may feel as if you are living in a constant state of anxiety. Having creditors contact you at your California home or at work may compound these feelings....
