Bankruptcy Law Blog

Credit cards have become an even more useful tool to many Americans during these difficult economic times. Credit cards allow individuals to spend more than then currently have in their bank accounts to cover expenses by ‘borrowing’ from a credit card company. But spending beyond one’s bank account can eventually lead to unmanageable credit card…

California residents know that this economy has taken its toll on many businesses. The economy has resulted in several companies having to seek business bankruptcy protection. Journal Register Co. is another business that is seeking the protection of bankruptcy. This is the second time in three years this company has sought this protection. The company…

Individual Americans are not the only ones feeling the pinch of the recent economic downturn. Cities throughout America are also trying to figure out how to make it work. Many cities, especially in California, are contemplating filing for bankruptcy as a form of debt relief. Bankruptcy can prevent creditors from harassing the individual who filed,…

In these tough economic times, many Americans have turned to credit cards to make everyday purchases. But this has left many Americans with substantial credit card debt. But what happens to this debt if you die? Generally, the estate pays off credit card and all other debts. In most cases, the estate is not able…

The current economic downturn, combined with the drought in the Midwest, has created a serious situation for many California dairy farmers. Many are turning to filing for Chapter 12 bankruptcy in order to try and survive this tough time. The issue is that with the drought causing the cost of many crops such as corn…

The recent economic downturn has left an impact on almost every American. This blog previously reported that many individuals have had to turn to and rely more heavily on credit cards for day-to-day expenses. This has lead to a rise in credit card debt for many Americans. New data suggests that the use of credit…

The number of businesses in the Sacramento area filing for bankruptcy has fallen over 31 percent since January of 2012. Business bankruptcy has been commonplace since the economic downturn in 2008, but it can be a good thing for businesses looking to reorganize and restructure debt, similar to the way an individual can file for…

The recent economic downturn has left many Americans in debt. Sacramento, California, residents are well aware of the substantial credit card debt many Americans carry with them every day. A recently proposed settlement involving big credit card companies like Visa and Mastercard and many major banks is being strongly opposed by Wal-Mart. This settlement was…

Chapter 11 is a form of business bankruptcy. It is a way for struggling businesses to restructure their debt and potentially continue to operate. It also protects companies from creditor actions against the company. Recently, a palm tree farmer, Cocopah Nurseries Inc., filed for Chapter 11 bankruptcy. This filing followed an attempt to restructure the…

The economy has been very tough on many people the last few years during the recession. Unemployment levels have remained high, inflation has risen, wages have stayed low and home values have slipped. This has created a very difficult financial situation for many in California. While the economy has been sluggish, many people have been…