The core of a Chapter 13 bankruptcy case is a three to five year repayment plan. The ability to stretch out past-due balances across 36-60 months can mean the difference between chaos and financial stability, and Chapter 13 allows many people to regroup and rebuild their finances without surrendering property. But, three to five years […]
For many of us, automobiles are critical to going about our daily lives. The family car may be necessary to get to and from work, to take children to school, to get to necessary medical appointments, and for many other reasons. The importance of personal automobiles varies depending on geography, and those of us in […]
While would-be Chapter 7 bankruptcy filers are subjected to a complex calculation involving debts, income, and expenses, the hurdles for those pursuing Chapter 13 bankruptcy are different. Generally, Chapter 13 bankruptcy will be an option if the debtor: Is an individual–there is no Chapter 13 bankruptcy for businesses, Is not disqualified by a recent dismissal, […]
It’s expensive to live in the City of Angels. Rent in Los Angeles often represents a hefty chunk of an individual’s total income. By the time they declare bankruptcy, it is not unusual for many people to be behind in their rent, sometimes on the verge of eviction. Of course, having a home is vitally […]
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. […]
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 […]
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. […]
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