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 […]
You’ve already filed for bankruptcy once and received your discharge in court. Congratulations, this is a big step! Your financial fresh start has been going well — but now the bills are starting to pile up again. Maybe it’s a variable rate mortgage, medical expenses, or simply the increasing cost of living in Los Angeles. […]
Desperate times call for desperate measures, or so the saying goes. When you find yourself low on cash and beset by debt collectors, it can be tempting to try to protect whatever property you do have by transferring it to someone else. But you should resist that temptation. Both California law and the U.S. Bankruptcy […]
Last updated Nov. 19, 2018. Attempts to collect invalid debts are on the rise. One recent analysis of Consumer Financial Protection Bureau (CFPB) data showed a 65.8% increase in complaints alleging illegal debt collection efforts from the first three quarters of 2016 to the same period in 2017. These issues arise across the country, but […]
Imagine this scenario: You’ve got thyroid cancer, and you stop paying your bills while you’re going through treatment. You’re a mother of three, and you need to lean on other family to help support you during this difficult time. While you’re recovering at your parents’ home, you miss notices in the mail about your amounting […]
We all want to enjoy our golden years, but the sad news in Los Angeles and across the country is that the number of seniors filing for bankruptcy is increasing. Twenty percent of bankruptcies are filed by people who are age 55 and older. That’s twice as many as there were in 1994. Perhaps this […]
If you’re wondering where all of your money went after the holidays, you’re not alone. Americans racked up an average of $1,054 in debt this holiday season, and they may be overwhelmed by credit card bills they didn’t expect so early. According to a Magnify Money survey, more than two-thirds of shoppers paid for gifts […]
When you’re in debt, you have a lot of things to cross off your daily to-do list. Pay this bill. Come up with a plan to pay the next one. Call your creditor to ask for an extension or payment plan. It can all seem pretty overwhelming. Luckily, you have options. Filing for bankruptcy may […]
We have seen a great many natural disasters of late, calamities that will take years to rebuild. Many people lose everything, and some never recover. It would seem that following a natural disaster, there would be a flood of bankruptcies. Yet at a glance, that does not appear to be the case. For the few […]
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