Articles Posted in Bankruptcy

There are many folks in the greater Sacramento area that haven fallen on hard times. Anyone who can empathize probably knows that it’s not always a one-time thing. That’s why, even though bankruptcy is supposed to be a fresh start, it doesn’t necessarily fix everything for the rest of time. Because of this reality, many…

Many people know the basic differences between Chapter 7 and Chapter 13 bankruptcy. Sometimes the choice is clear because the consumer isn’t eligible for Chapter 7 or they need Chapter 13 to pay for back mortgage payments. However, there are times when a consumer will start with a Chapter 13 but later needs to switch,…

People love their credit cards. Lots of folks rely on credit cards for every day expenses. Others simply use them for the airline miles or Disney Dollars. Although many people learned many financial lessons during the last recession, new statistics released by financial site CardHub show that Americans incurred over $57 billion in new credit…

Folks all over the Sacramento region, from Woodland to El Dorado Hills, have fallen into unfortunate situations with debt. Bankruptcy is often the answer to fixing those problems and getting a financial fresh start. But the things that happen during the bankruptcy and afterwards are just a small part of the story of a successful…

There are many misconceptions about bankruptcy. One of the most common is that filing for bankruptcy is a permanent and devastating hit to a consumer’s credit. That is simply not true. At first, it can be a little difficult to get credit. A recently discharged consumer will likely have to pay higher interest rates and…

The vast majority of bankruptcy filings in Sacramento and Northern California go through the system smoothly. However, there are many situations that can arise in a bankruptcy case that involve conflict between a creditor, the debtor, and/or the trustee. Many times, these conflicts must be resolved in bankruptcy court in front of a judge. Complex…

It makes sense that if someone needs to file bankruptcy, they probably don’t have a lot of money. So it can be tempting to seek bankruptcy help from a petition preparer or a cheap attorney from out of town. But it makes much more sense to hire someone who is actually an attorney and is…

Northern California is filled with hard-working people. Many of those folks are small business owners. But running a small business can be a struggle, especially in a volatile economy. It is a great thing that inhabitants of the Sacramento Valley are proactive entrepreneurs. From general contractors to orthodontists, there are examples of what makes the…

Many people who file bankruptcy wonder what it means to have a “secured creditor.” A secured creditor is a person or entity to whom the debtor owes an obligation which is backed by real or personal property. That property is often called “collateral.” The secured creditor has a secured interest in that collateral. The reason…

Bankruptcy often occurs during a tumultuous period in life. Another tumultuous life event that often involves finances is divorce. Inevitably, bankruptcy and divorce sometimes are intertwined, so it’s important to understand the ramifications of filing bankruptcy individually versus jointly. Individual versus Joint Filing A married couple can file a joint bankruptcy, even if they are…