Bankruptcy Law Blog

The current economic climate has caused many families to reevaluate their financial situation. With the holiday season approaching, parents are in the process of buying gifts for their children. Financial experts, however, are suggesting that instead of adding to many their already high credit card debt, American parents should start a savings plan for their…

These tough economic times have been difficult for many people, including a number of residents of California. This has led many families to turn to Chapter 7 bankruptcy for relief. Bankruptcy may be the only way for some individuals to work their way out of debt. The current times have hit many individuals including elected…

During strong economic times, Americans are able to rely on cash to make purchases. But in tougher economic times, like now for most Americans, families turn to credit cards for more purchases to get by. This increased credit card use can lead to a substantial increase in credit card debt. A recent study by TransUnion,…

Businesses in Sacramento and elsewhere are successful due to many parts working together simultaneously. When the economy is struggling, it is even more essential for a business to have all its pieces working in harmony. But if one part stops working, then the business may choose to file for business bankruptcy. Hostess Brands Inc. is…

The recent recession has forced many individuals, especially students, to turn to credit cards to pay for every day necessities. This has led to an increase in both credit card debt and student loan debt. According to the Federal Reserve, in September, consumer borrowing rose to $11.4 billion, and total consumer debt rose to $2.74…

Today’s economy has made many basic necessities for Americans much more difficult to afford. One payment that many Americans have fallen behind on in the wake of the recent recession is their mortgage payments. Falling behind in mortgage payments can lead to foreclosure proceedings, which can lead to the homeowner losing their home. One way…

Ponzi schemes have allowed individuals to amass large amounts of money by swindling others. Fortunately, many of these individuals get caught. But one individual who was charged with fraud and bribery in relation to a ponzi scheme recently filed for Chapter 7 bankruptcy in Sacramento, California. The individual conned $20 million out of an Indian…

Owning a home is the dream of many American families. For most families, a mortgage is necessary to achieve that dream. However, a mortgage is still a debt that, in difficult financial times, can put families in significant financial hardship. This can lead to the need for debt relief to try to save their home…

The recent economic downturn has affected all different kinds of industries, from agriculture to manufacturing. One California poultry farm has recently chosen to file for bankruptcy to pay off creditors. Zacky Farms LLC owes creditors close to $100 million. Zacky points to the dramatically rising feed costs and heavy debt as the reasons for filing.…

Credit cards can be an easy way to make purchases when one is short on cash. These economic times have led families to put more on credit cards and take on more credit card debt. But excessive use of credit cards can lead to unmanageable levels of credit card debt. And, unlike cash, a balance…