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 can a debt collector collect on a judgment?
If a creditor takes you to court for an overdue debt and the judge rules in the creditor’s favor, you will have a judgment against you. It is up to the creditor to collect on that judgment. The Judicial Branch of California explains the court will not conduct the...
How can a creditor collect on a judgment?
When you owe a debt and you do not pay on it, the creditor can sue you. If the court issues a judgment against you, it means there is an order that you must pay the creditor. However, that is where the court ends its involvement. The court will not collect the debt...
Using credit cards to your advantage
Irresponsibly using your credit cards is one of the fastest ways you can accumulate debt. Putting all of your expenses on your plastic card can create a false sense of security and financial stability until you receive a shocking bill in the mail. Using your credit...
How do debt collectors harass you?
When struggling with debt, the last thing you want to do is deal with an unpleasant debt collector. While many debt collectors respect the personal bounds of the people they deal with, some will cross lines and cause problems on purpose. How can you tell when you are...
Can you include your mortgage when you file for bankruptcy?
If you've been struggling for years to pay off your debts in California, filing for bankruptcy might be your only option. It's a drastic solution, but it allows you to either pay off your debts or to get some of your biggest debts discharged. Your credit score will...
Why you should consider bankruptcy
California families may end up crushed by debt with very few options. One choice that is available to you is bankruptcy. Although you may hesitate due to the stigma, bankruptcy can be a helpful thing for a household that is trying to make a clean financial start....
What is the debt “snowball” method?
There are many methods to manage and repay debt. Two of the most popular methods are the “snowball” and the “avalanche” debt payment method, respectively. Both of these strategies have pros and cons, and the best one for you depends on your temperament and your...
What happens if I am summoned to court for my debt?
If you neglect delinquent debt for too long in New York, creditors may take you to court. Often, the plaintiff bringing the lawsuit against you is not your original creditor but a collections company who purchased your debt. They can still take you to court if the...
What bankruptcy exemptions does California allow?
Many people assume that they will lose all their property when filing bankruptcy. Yet, this worst-case scenario rarely occurs. If you’re filing Chapter 13 bankruptcy, you will likely keep most of your assets, so long as you can cover your debt on a repayment plan....
