West Covina
West Covina Office
100 North Barranca Suite 250
West Covina, CA 91791United States (US)
Norwalk - Imperial Sq. Office Park
Norwalk – Imperial Sq. Office Park
12631 E. Imperial Highway Suite A-104
Santa Fe Springs, CA 90670United States (US)
Ontario - Ontario Exec. Center
Ontario – Ontario Exec. Center
3535 Inland Empire Blvd Suite 45
Ontario, CA 91764United States (US)
Torrance
Palmdale
Glendale
Glendale
100 North Brand Boulevard Suite 636
Glendale, CA 91203United States (US)
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Can You File Bankruptcy in California if You’re Unemployed?
Submitted by Erik ClarkContentsQualifying for Bankruptcy without a JobChapter 7Chapter 13Should You File for Bankruptcy While Unemployed? 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. […]
Avoiding Repossession Begins with Your Car Loan
Submitted by Barry BorowitzContentsAutomobile Loan StatisticsDefaults and DelinquencyLoan CharacteristicsPurchasing for the Success of Your Automobile Loan 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 […]
Chapter 7 Bankruptcy Eligibility Checklist
Submitted by Erik ClarkMany people considering bankruptcy are uncertain as to whether or not they qualify to file Chapter 7. Most people who want to file Chapter 7 bankruptcy are eligible to do so, and the concerns often stem from misinformation from friends and family or the internet. In 2019, more than 11,000 Chapter 7 bankruptcy cases were […]
Generation Z Comes of Age (and Gets Credit)
Submitted by Barry BorowitzFor 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 […]
What Happens to Discharged Debt?
Submitted by Erik ClarkContentsWhen a debt has been discharged in bankruptcy, you are no longer legally obligated to pay that debt.Debts are only discharged as to the person filing bankruptcy.Creditors shouldn’t issue a 1099-C for discharged debt.Discharged debts can’t be reported to credit bureaus as delinquent or outstanding.It’s the bankruptcy filing, not discharge, that determines how long the […]
Senior Debt Management: Pitfalls to Watch For
Submitted by Erik ClarkRetirement should be a time of peace and relaxation after a lifetime of working for a living, paying the mortgage, and weathering the financial ups and downs that life throws at most of us. Unfortunately, this vision of the “golden years” is holding true for fewer and fewer Americans. The U.S. Government Accountability Office (GAO) […]
Bankruptcy Under Biden: A Look at Possible Changes to the U.S. Bankruptcy Code
Submitted by Barry BorowitzSenator 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 […]
Act Now to Minimize Coronavirus Financial Impact
Submitted by Erik ClarkContentsFinancial Steps You Can Take TodayAssess and prioritize your bills and expensesDon’t make assumptionsEducate yourself about the resources available to youUnderstand what it means that this relief is temporary California was the first state in the nation to shut down non-essential operations to protect its citizens against the spread of the novel coronavirus and the […]
How Long Does a Los Angeles Bankruptcy Take?
Submitted by Erik ClarkContentsThe Automatic Stay Takes Effect ImmediatelyTimelines for Completing a Consumer Bankruptcy CaseChapter 7 Bankruptcy Chapter 13 Bankruptcy Most people who file for bankruptcy have been struggling with debt for quite a while and are understandably eager to get the process over with and move forward, which makes knowing how long the process can take a popular […]
Can You Afford to Stay in Debt?
Submitted by Barry BorowitzIf 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 […]