Articles Posted in News

Anyone who has been in debt knows that it can be a stressful situation. Consequently, a number of studies have shown an adverse relationship between debt and your physical and mental health. These studies compile data using panel surveys, epidemiological surveys, and psychological autopsy studies and have found a strong relationship between debt and poor…

After Bankruptcy, California is testing a new form of welfare called “universal basic income”. The new universal basic income, or UBI, is initially funded by a tech group called the Economic Security Project, which has put together a multi-million dollar grant to help fund the new privatized welfare. The community engagement initiative will aim at…

An unexpected traffic accident, the sudden onset of a major disease, or an extended hospital stay due to illness or injury are a few of the emergencies that can cause an enormous spike in medical expenses and consequently, push an individual towards seeking bankruptcy protection. A recent study, however, was aimed at finding out just…

In a severe blow to Jazz lovers in the area, the Sacramento Traditional Jazz Society filed for Chapter 7 bankruptcy protection this week, putting an end to the Sacrament Music Festival, previously known as the Sacramento Jazz Jubilee. The non-profit filed a voluntary petition for Chapter 7 bankruptcy protection with the US Bankruptcy Court of…

Faced with over $2.5 million in debt, the Cedarville California-based Surprise Valley Health Care District filed for Chapter 9 bankruptcy protection this week. The company is the owner and operator of a 26-bed hospital named Surprise Valley Hospital, located in Modoc County and provides medical services to an estimated 1,500 people. The hospital’s board of…

The previous 24 months has been a tough one for retailers with a high brick-and-mortar footprint. No less than 21 major brand name companies with traditional retail models filed voluntary petitions for Chapter 11 bankruptcy protection under the US Bankruptcy Code breaking a record previously set in 2008 during the housing crisis. Additionally, 6,700 stores…

“A fool and his money are soon parted” is an old English proverb that some scammers take seriously during the holiday season. It seems like every Christmas new scams are concocted to separate honest people from their hard-earned cash, and this year is no different. Here are the latest Christmas scams, exposed courtesy of the…

A man serving an 18-year prison sentence after pleading guilty to wire fraud, bankruptcy fraud, and money laundering escaped from a minimum security prison in California last week and is still at large. The man, Frederick Darren Berg, who ran one of the largest Ponzi schemes in the state of Washington, was apparently able to…

California traffic fines are some of the highest in the country, so it’s not a surprise that a single speeding ticket could lead to excessive debt when trying to repay the traffic ticket. This week, Senator Robert Hertzberg introduced Senate Bill 185 that will help to overhaul the way California charges individuals for traffic violations.…

With shopping, music, dating, and many more facets of life going digital, it shouldn’t be much of a surprise that debt collectors are getting in on the digital act as well. Digital debt collection is the process of managing debt negotiations via a web portal on the internet versus over the phone which has been…