The Impact of Home Equity & Income on Chapter 7 Filing
Filing for Chapter 7 can be a daunting and complex task, for the most part, because there are numerous factors influencing the eligibility, and criteria set by California bankruptcy laws are very strict when it comes to passing the means test. Although there are a lot of nuances to the process, the two key aspects […]
Chapter 13: The Inner Workings
For most people, facing extensive financial difficulties or large amounts of debt may seem like an insurmountable problem. Even more so at the mention of bankruptcy, as the vast majority believe it is a one-way street to financial ruin. The truth, however, is quite the opposite! Above everything else, bankruptcy is a lifeline, a way […]
Qualifying for Chapter 13: All You Need to Know
In the face of overwhelming debt, filing for Chapter 13 bankruptcy presents individuals with a regular income with the means of overcoming financial difficulties and regaining their economic independence. However, before being allowed to restructure their debt, filers must pass the so-called “means test”. This is a critical element of the California bankruptcy system that […]
6 Positive Effects of Chapter 7 on Your Life
The vast majority of people view bankruptcy in a wholly negative way. They think it’s the end of the line, from which there’s no recovery; a financial pit, from which there’s no way out. All of them are wrong. Bankruptcy, Chapter 7 in particular, is a lifeline and an excellent way to regain control of […]
2 Practical Things to Know About Chapter 7 Filing
While many view it in an unfavorable light, the fact is that bankruptcy is a beyond useful tool to get out of debt and regain financial stability. However, it’s also the fact that the filing process is convoluted and can make even the most basic aspects confusing. That’s why, today, instead of delving deep into […]
How to Rebuild Credit After Chapter 7
While bankruptcy does represent a difficult stretch of your financial journey, it is by no means the end of it. Rather, it’s a “course correction”; a pit stop that allows you to reevaluate, reassess, and reinstate some positive habits that’ll go a long way toward securing your future. Whether you choose to do it on […]
The Complete Guide to Bankruptcy Exemptions in CA
The primary reason why people tremble in terror at the very mention of bankruptcy is a misplaced notion that they’ll lose everything after filing for Chapter 7: their home, car, savings, and even clothes off their backs. While Ch7 is the so-called “liquidation bankruptcy”, meaning the bank has the right to seize your property, the […]
Filing for Student Loan Bankruptcy: A Step-by-Step Guide
It is no secret that student loans in the US can reach exorbitant amounts. More often than not, these become a burden that weighs heavily on the individual long after they’ve finished their academic studies. In the most extreme cases, student debts can become so overwhelming that the person may find themselves struggling to meet […]
Student Loans & Bankruptcy: New Developments
For what seems like forever, laws pertaining to student loan debts showed no signs of change, heavily favoring creditors over debtors, and placing extreme financial strain on the latter. Fortunately, with the Bankruptcy Fairness Act of 2023, it seems that the tides are finally turning! Both the borrowers and debt attorneys in San Diego welcomed […]
Student Loan Debt & Chapter 7 Bankruptcy: A Feasibility Study
In many cases, student loan debts grow to become an insurmountable obstacle in the life of an individual, with seemingly no way out of the endless circle of struggle and repayment. Fortunately, “seemingly” is the operating word here. What most people do not know is that filing a bankruptcy claim via a reputable San Diego […]