When a person (as opposed to a business) files bankruptcy, there are two options available to them. Which one you choose depends on things like how much money your make and what you own. The first option is a Chapter 7 bankruptcy, which is the simplified version. If you do not qualify for a Chapter […]
What Can I keep in a Chapter 7 Bankruptcy?
Bankruptcy is a scary thing. Many people are afraid of filing bankruptcy simply because they believe that the court will take everything that they own. This is simply not true. Each state has laws that decide what items are exempt (what you can keep) and nonexempt (what you cannot keep) when you file bankruptcy. California […]
The Hardship Discharge in Chapter 13
Chapter 13 is a long term commitment that generally lasts between 3 to 5 years. Many life changes can occur in that span of time. While we hope for an improvement of our circumstances, the truth is some people experience hardship, such as a drop in disposable income. When a Chapter 13 debtor with a […]
How to Reduce Your Mortgage Balance and Stop Foreclosure
If you’ve found yourself in a difficult financial situation, you’re not alone. Each year, over 342,000 homes in the United States fall victim to the foreclosure process. Financial situations can change overnight, whether it’s due to the loss of a job or a catastrophic illness, and having to face those situations with the added burden […]
Let Us Help You Create A Plan To Get Back On Top Financially
For many people facing financial difficulties, the biggest challenge is getting back on solid footing. It’s no secret that people with poor credit and fewer resources face higher interest rates, increased fees, and limited opportunities while trying to re-establish themselves financially. Burying your head in the sand and hoping for a miracle is never the […]
Can Bankruptcy Wipe Out Student Loans? MAYBE.
The age-old question of whether you can discharge student loan debt in bankruptcy does not have a simple answer. As any experienced Los Angeles bankruptcy attorney would explain, it is possible, but the process certainly isn’t easy. Additionally, there are absolutely no guarantees of success. Bankruptcy itself is somewhat complicated, but trying to discharge student […]