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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What is the Consumer Bankruptcy Reform Act (CBRA)?
Submitted by Barry BorowitzContentsCore Goals of the CBRARestructuring BankruptcyRemoving Obstacles to BankruptcyMaking Additional Debts DischargeableAdditional CBRA ProvisionsBorowitz & Clark Helps Los Angeles Residents Resolve Debt Back in April, we previewed the possibility that a Biden presidency might mean significant changes to the U.S. Bankruptcy Code. Biden had signaled that he would support the bankruptcy plan set forth by […]
Job Growth Slows with Los Angeles Unemployment High
Submitted by Barry BorowitzAs a headline without context, “US economy added 245,000 jobs in November” sounds promising. But, it was the slowest month for job growth since the country began to rebound from the initial impact of the coronavirus pandemic. President-elect Joe Biden called the jobs report “grim” and pointed to slowing improvement as a reason to move […]
Filing Bankruptcy When You Owe a Friend or Family Member
Submitted by Erik ClarkContentsHow Common is Debt to Friends and Family? The Wrong Ways to Address Friend and Family DebtLeaving Debts to Friends and Family out of the Bankruptcy FilingQuickly Paying the Debt Before You File BankruptcyThe Lookback Period is Longer for “Insiders”Protecting Friends and Family (and Yourself) in Bankruptcy Filing for bankruptcy is rarely an easy decision. The […]
Can I Be Sued for Old Debt in California?
Submitted by Barry BorowitzContentsWhen Does the Statute of Limitations Begin to Run? Credit Reporting Outside the Statute of LimitationsCollection Activity Outside the Statute of LimitationsKnow Your Rights and Act On Them Statutes of limitations determine how long someone has to file a lawsuit or other legal proceeding. In California, the statute of limitations on most debts is four years. […]
Can I Sue for Credit Report Inaccuracies in California?
Submitted by Erik ClarkContentsMonitoring Your Credit ReportWhat if I Find an Inaccuracy on My Credit Report?What Happens after I Dispute? Take Steps to Protect Your Credit 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 […]
Credit Card Canceled? You’re Not Alone
Submitted by Barry BorowitzContentsCredit Card UsageWho is Affected by the Reduction in Credit? Closures and Reductions by Income BracketClosures and Reductions by GenerationWhat Happens after a Credit Card is Closed? The last thing most people facing an uncertain economic environment want is to open the mail or log in to a credit account and discover that a credit card […]
Beware Late Night Debt Negotiation Ads
Submitted by Erik ClarkContentsUnderstanding Debt ConsolidationWhat Do These Companies Really Do? Debt Negotiation in ActionUnderstand Your Debt Relief Options 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 […]
How Do Debt Consolidation Loans Actually Work?
Submitted by Erik ClarkContentsWhat is a Debt Consolidation Loan?Securing a Debt Consolidation LoanDebt Consolidation MathInvestigate Your Debt Relief Options 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 […]
Are You Actually Prepared for Retirement?
Submitted by Barry BorowitzContentsWhat Does this Mean for California Workers? Who is Most Affected? What to Do if You’re Behind on Retirement SavingsCalSavers Expands Access to Retirement Accounts 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 […]
Increase in California Homestead Exemption Opens Up Options for Many Los Angeles Residents
Submitted by Erik ClarkContentsThe California Homestead ExemptionThe Homestead Exemption Increases as of January 1, 2021.The Homestead Exemption Will Update AutomaticallyWhat the Law Change Means for California Homeowners 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, […]