2020 was a tough year for small businesses around the country, and law firms are no exception. In May, just a few months into the pandemic, Martindale-Avvo conducted a survey about the impact of Covid-19 on law firms. 81% of firms responding said their revenues had declined in 2020. About 27% of those reported a […]
Few experiences are more stressful than facing the loss of your home, especially when finances are strained. Unfortunately, it’s a situation too many in Los Angeles and around the state face each year. A 2019 report from Public Counsel and the UCLA School of Law Community Economic Development Clinic revealed that 505,924 eviction proceedings had […]
Filing for bankruptcy is rarely an easy decision. The factors are different for everyone, but one common consideration is what will happen to debt owed to friends and family members. Many people looking for ways to protect those personal relationships want to pay off those close to them before filing bankruptcy, or simply leave the […]
The federal Fair Credit Reporting Act (FCRA) creates a process for disputing inaccuracies on your credit report.The statute also requires both credit reporting agencies (CRAs) and furnishers of credit information to investigate disputes and make corrections or deletions as appropriate. Ultimately, if they don’t fulfill their obligations under the law, you may be able to […]
If financial stress is keeping you awake at night and you’re watching a lot of late-night television, you’ve probably seen advertisements for a variety of “solutions” to your debt problems. It’s easy to get drawn in by big promises of debt negotiation or debt consolidation when you’re under stress and feeling hopeless, but many of […]
Exploring your options is always the best first step when you’re facing financial difficulties. There is no one-size-fits-all right answer, and making a quick decision or jumping at the first possible solution can leave you worse off than you started. For some people, a debt consolidation loan can transform unmanageable debt into one smaller monthly […]
California’s relatively low homestead exemption has long been an obstacle for Los Angeles residents seeking to resolve debt in bankruptcy. Homestead exemptions are intended to protect the family residence from creditors, even in bankruptcy. But, the amount of value that’s protected differs significantly from state to state. In several states, the homestead exemption is unlimited […]
One of the biggest obstacles for people considering bankruptcy is mythology. Sometimes it seems that the moment someone in tough financial circumstances decides to take control, misguided advice starts flying. Of course, family and friends usually mean well. But, that doesn’t make their information accurate. And, too often, it comes in the form of dire […]
Each spring, the Board of Governors of the Federal Reserve System issues a report on economic well-being in U.S. households. Traditionally, this report is based on end-of-year data from the previous year. However, in light of the unusual economic circumstances in the United States in the spring of 2020, this year’s report includes an update […]
Job loss is one of the most common triggers for a bankruptcy filing. That makes sense, since most people who abruptly lose their primary source of income aren’t able to keep up the financial commitments they made based on that salary. But that doesn’t mean that every option will be available to the recently unemployed, […]
Follow Us:
