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Category Archives: Bankruptcy

Using Bankruptcy to Avoid Home Foreclosure

When default on mortgage payments leads the lender to threaten foreclosure, you need to take prompt action to protect your home. Bankruptcy is an effective way to block foreclosure while allowing you to devise plans for getting back to financial solvency. Filing for bankruptcy protection under Chapter 7 or Chapter 13 causes an automatic stay […]

How Does Filing for Divorce Affect Your Bankruptcy?

Bankruptcy and divorce unfortunately sometimes go hand in hand. Severe financial pressure in a marriage is one of the leading causes of divorce, and the breakdown of a marriage can have ruinous financial effects. Depending on your finances and the state of your relationship, bankruptcy and divorce proceedings can each significantly impact their respective outcomes.  […]

Setting Aside Default Judgments in California

If a creditor goes to the trouble to sue you, they mean business. If for any reason you do not respond to a summons and complaint within the time required by California law — usually 30 days — the creditor can seek and obtain a default judgment. The court typically awards the creditor the amount […]

What Can Cause Your Chapter 7 Petition to be Denied?

Chapter 7 bankruptcy offers consumers a chance to be relieved of crushing debt and to get a fresh financial start. However, the law is not intended as a cover for fraud, deception or other conduct abusive of the bankruptcy system. Debtors who seek the law’s protection are held to high standards of good faith and […]

How Often Can You File for Bankruptcy?

Close up of bankruptcy petition with calculator and writing hand

If we have learned anything during the pandemic era, it is that things are more fragile than they seem. Global economies can be stopped in their tracks, threatening the financial health of millions of individuals. Many people who filed for bankruptcy in the past may find themselves in dire financial straits due to COVID-induced job […]

The Importance of Business Valuations in Chapter 11 Bankruptcies

Businessman reads Bankruptcy Chapter 11 book.

When a business seeks debt reorganization under Chapter 11, assessments must be made of the assets, debts, claims and general worth of the company. These valuations are difficult in normal times. The recession caused by the COVID-19 pandemic has added greater complexity. With the upheaval in financial markets, it is all the more critical to […]

What Can Your Creditors Take if You File for Bankruptcy?

White paper house with windows and open door in front of a row of beige paper houses. Selective focus on the white house. Similar and real-estate related:

For those in financial distress, bankruptcy provides a means of eliminating overwhelming debt and starting fresh. One question people considering bankruptcy protection often ask is: will I lose all my possessions? The short answer is no. There are limits to what creditors can take, since certain property may be declared exempt from their claims. There […]

How Does Filing for Bankruptcy Affect Your Credit Rating?

Credit Report

If you are facing insurmountable debt, bankruptcy may be the best option for righting yourself financially and getting a fresh start. The downside is that a bankruptcy filing will stay on your credit report for a lengthy period of time. However, there are ways that bankruptcy can put you on a better financial footing that […]

Understanding Bankruptcy Fraud and Its Consequences

A law book with a gavel - Bankruptcy law

While the bankruptcy law is intended to give people a fresh start by wiping out their debts, at the same time it contains protections against abuse of the system. Debtors filing for bankruptcy are required to completely and accurately disclose their assets, income, debts and other finances. The law includes sanctions for a debtor who […]

Tips for Dealing with the Emotional Stress of Bankruptcy

Worried owner at his small business

Of course, no one wants to go into bankruptcy, and the stress surrounding the decision to do so is understandable. But when you are faced with crushing debt, harassing calls from collection agencies and continual financial uncertainly, you may be left with no other logical choice. You need to know that you are not alone. […]


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