Recent Blog Posts
The CARES Act and Bankruptcy
Although not as robust or as swift-moving as many would prefer, the federal government has begun taking steps toward helping individuals and small businesses that are suffering financial hardship as a result of the COVID-19 coronavirus pandemic. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, offers help to… Read More »
How Long Does a Bankruptcy Filing Stay on My Credit Report?
Many folks who are considering individual bankruptcy are concerned about the impact that bankruptcy will have on their credit. A bankruptcy filing can affect your credit score and things like loan interest rates and the cost of credit, but the effects are not permanent. Moreover, you can start rebuilding your credit score soon after filing… Read More »
Will I Lose My Property if I File for Bankruptcy in California?
One of the biggest concerns for anyone struggling with debt is whether they might lose their house. Especially when considering bankruptcy, clients often ask whether they might lose their home and other valued personal property. California and federal bankruptcy laws, however, provide exemptions for many types of personal and real property. With the advice of… Read More »
What Happens if I get in a Car Accident While in Chapter 13
When you are in the middle of a Chapter 13 bankruptcy, the last thing you need is another financial hardship. You are midway through paying off your unsecured debt, and suddenly you need to pay for property damage, medical costs, and other related expenses, and you may be facing time off of work. Moreover, if… Read More »
Student Loan Debt and Bankruptcy
Historically, student loans are one of the most common forms of consumer debt that most people believe are not subject to discharge in bankruptcy. We incur thousands of dollars of debt, if not hundreds of thousands, when we are barely old enough to drive. Students attend for-profit schools that fraudulently over-inflate their employment statistics, leaving… Read More »
California and Wage Garnishments: What Are Your Rights?
If you owe certain types of debts to creditors, the government, or certain individuals, you may be subject to a particularly irritating arrangement: garnishment of your wages. The person to whom you owe debt may be able to collect directly from your paycheck before you even get your hands on your money. Wage garnishment is… Read More »
U.S. Secretary of Education Sanctioned for Collecting on Loans of Defrauded Students
Student loan debt is one of the biggest contributors to individual debt in the United States. As of March 2019, student loan borrowers owed a collective $1.6 trillion in federal and private student loan debt. While that number alone is cause for reflection on our educational system, in recent years, much of that debt has… Read More »
When Can I File for Bankruptcy Again?
Bankruptcy is never anyone’s first choice for dealing with financial hardship, although much of the associated stigma is evaporating as more and more Americans turn to bankruptcy as a reasonable and appropriate solution for recovering from money issues. Moreover, the vast majority of Chapter 7 and Chapter 13 bankruptcies (over 97 percent) involve individuals struggling… Read More »
FTC Goes After Shady Student Loan Debt Relief Operation
We’ve discussed student loans before. More than 44 million borrowers in the U.S. collectively owe $1.5 trillion in student loan debt. It’s a significant problem for our economy and American consumers struggling with debt. There are appropriate debt relief options for alleviating the burden of student loans, including bankruptcy in proper circumstances. There are also… Read More »
Can I Discharge My Income Tax Debt?
There is a common misconception that federal tax debts are not dischargeable in bankruptcy. Income tax debt can, in fact, be discharged, although discharge is subject to additional rules and restrictions beyond typical debt discharge. Whether your tax debt is dischargeable depends on the circumstances of the debt, the nature of the taxpayer, and the… Read More »