Myth: Chapter 7 and Chapter 13 Bankruptcy are the same. There are two types of bankruptcy available for most consumers. Each one takes a different approach to solving your financial problems. Chapter 7: Commonly referred to as a "liquidation bankruptcy." However, it is important to know that this doesn’t mean you have to sell all [...]
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If you are currently locked into a long commercial lease but are facing financial difficulties, you may be worried about filing for bankruptcy. Don’t worry! There are options available for you and your business. Also, what will happen will depend on the type of business you own and under which chapter of bankruptcy you file. [...]
Bankruptcy Myth 8: You Can Handle This Yourself You may think that since you got yourself into this financial mess, you can get yourself back out. It's great to take responsibility for your situation, but when it comes to a bankruptcy, you will likely cause more problems than you need. If this is how you’re [...]
Investing in your education is something that can come with a big price tag. In fact, many people find that they have accumulated thousands of dollars in debt by the time they finish their education. And, for some, it is too much to repay. For some, bankruptcy is a necessary solution before finishing school. This [...]
We are currently in the middle of a global pandemic. This is a once in a lifetime experience. And, with new developments happening every day, the news can be overwhelming. You may be worried about what will happen next. While the government is working to provide financial relief, but there is no exact answer for [...]
Myth: If you make good money, you cannot file for bankruptcy. You will need to meet certain criteria to qualify for a Chapter 7 or 13 bankruptcy. However, none of that criteria specifies how much money you need to make. Instead, it will come down to how much debt you have and your ability to [...]
Are you considering bankruptcy? If so, you may be wondering how to get more information from a qualified bankruptcy attorney during this time. Good news! Our office, and many others, are offering telephone and video conferencing appointments to get you the answers you need. So, what you can do to prepare for your consultation? Be [...]
Myth: Bankruptcy will prevent you from buying a house or car again. The truth is that you will be able to make major purchases like buying a house or car. In fact, your credit score is often better once you rebuild it after bankruptcy. Bankruptcy is often the best alternative to continuing to be behind [...]
During this uncertain time, you may be concerned about what options are available to save your home. Well, the good news is that you have options. Many banks are offering payment relief options. In fact, in the state of California, the Governor has offered temporary relief from evictions and foreclosures. But, you may want to [...]
Myth: #5: You can only file bankruptcy once. Not true! If you’ve filed bankruptcy before and need to file again, don’t despair. Bankruptcy can often happens more than once. Why? Because the main causes of bankruptcy—divorce, health bills and job loss—happen over and over again, too. More than 50% of marriages end in divorce Unemployment [...]