Medical debt is a widespread problem in America. The Urban Institute says 13% of households in Los Angeles County have medical debt in collections, and that’s the good news. In other areas of the country, the problem is much worse. The national average is 18%, and in many areas the picture is even bleaker. In […]
When you feel like you’re drowning in debt, talking to creditors and collection agencies is probably the last thing you want to do. In fact, if your debts have spiraled far enough out of control, you may have stopped picking up the phone when creditors call, and even left bills and collection letters unopened. That’s […]
If you are married and living in California and are considering filing bankruptcy, you can do so individually without your spouse or file jointly with your spouse. Let’s take a look at the impact of filing bankruptcy individually in California, whether it’s advisable and how it will affect your spouse. What Assets Are Part of […]
Even after people declare Chapter 7 bankruptcy and have their financial slates wiped clean or file a Chapter 13 bankruptcy to reorganize and slowly pay back creditors, it can be all too easy to fall back into debt. 8% of those who file bankruptcy are repeat filers, though 16% of personal filings are repeat filings. […]
Unemployment is extremely low right now and incomes are rising, so you would think that Americans would be living the high life. But the fact is that most of us are struggling. How is this possible? A November 2018 study released by the Center for Financial Services Innovation (CFSI) found that 17% of Americans are financially […]
The saying “timing is everything” applies to many things in life, and that includes how bankruptcy can affect your inheritance in California. If you received an inheritance before filing for a Chapter 7 bankruptcy, it can become part of your bankruptcy estate just like any of your property unless you can protect it with a […]
Between July 1, 2017 and June 30, 2018, more than 750,000 Americans filed for bankruptcy under Chapter 7 or Chapter 13 for nonbusiness debts, including nearly 65,000 here in California. Almost all of those people are honest hardworking Americans, and for them the bankruptcy process represents a welcome reprieve from overwhelming debt and overbearing debt […]
In 2009, a person (or group—no one’s quite sure) using the name Satoshi Nakamoto launched Bitcoin, a new digital currency. Early on, the value of bitcoin was so low that one person paid 10,000 bitcoins to purchase pizza from Papa John’s. By December 2017, the price of each bitcoin had increased to nearly $20,000, and […]
Identity theft occurs when one person obtains personal or financial information about another and uses it for some fraudulent purpose, such as financial gain. For example, identity theft often involves opening a new credit account under another person’s name. It can also be used to commit tax fraud, such as by filing a tax return […]
In the 21st century, the cost of housing has outpaced salaries and benefits packages for workers nationwide, leaving many at a deficit. Los Angeles has one of the higher average salaries in the United States at $62,550, but the 43% overall higher cost of living offsets the income data, leaving millions of Californians with little […]
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