If you’re actually truly prepared for retirement, you’re in the minority in California. A 2019 study from the UC Berkeley Center for Labor Research and Education revealed that nearly half of private-sector employees in the state have no retirement savings. While 46% of those working in the private sector reported that they had some sort […]
Both California law and federal law have long protected a portion of a consumer’s wages from debt collectors. While a judgment creditor can request a wage garnishment order from the court, garnishment can’t exceed 25% of the debtor’s earnings. For many working people, the protection is even greater. That’s because the creditor can only garnish […]
Your retirement account plays an important role in protecting your future. Unfortunately, 401(k)s and other retirement accounts are in short supply in California. According to a 2019 report from the UC Berkeley Center for Labor Research and Education, 54% of private sector employees in California have no retirement savings account or pension plan. That’s especially […]
Some of the ways debt hurts California families are direct and obvious. Juggling debt and dealing with creditors and debt collectors is stressful and unpleasant. Money going to cover credit card debt and service other debt is money not available to spend as you wish. Sometimes, that means holding off on buying a house or […]
Automobile repossession, or the threat of repossession, is one common reason people consider bankruptcy. Most people who ultimately file for bankruptcy have struggled with debt for years before deciding to take that step. Often, a crisis such as wage garnishment, a foreclosure action, or the threat of vehicle repossession is the trigger for seeking a […]
For years, we’ve been hearing about broke Millennials. There’s been a lot of controversy about the reasons. Some say Millennials can’t get ahead because of student loan debt, and have been condemned to living at home, delaying home purchases, and even pushing back marriage and children in service of their debt. Others paint them as […]
Senator Elizabeth Warren is arguably the nation’s leading consumer advocate in the area of bankruptcy and other financial protections. She strongly opposed the 2005 bankruptcy reform that made it harder for many Americans to file Chapter 7 bankruptcy, has published significant studies on the root causes of bankruptcy in the United States, and even authored […]
If you sometimes feel like you’re working just to pay your debts, you’re not alone. According to the Center for Macroeconomic Data, aggregate household debt in the United States increased to $13.95 trillion in the third quarter of 2019. This was the 21st consecutive quarterly increase in consumer debt. At a per capita debt of […]
For most people, bankruptcy isn’t like a typical legal proceeding. For most, there is no courtroom appearance and little or no contact with a judge. Instead, the bankruptcy process is usually accomplished through a combination of online or telephone courses, paperwork completed with the assistance of your bankruptcy attorney, and a single live appearance at […]
The federal Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from a variety of dishonest, abusive, and harassing behaviors. The statute offers broad protection, including: Placing an obligation on debt collectors to provide certain information in debt collection communications Prohibiting debt collectors from pursuing collections while a debt is in dispute Prohibiting debt collectors […]
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