Do I Have To Go To Court When I File Bankruptcy?

2021-01-22T21:14:43+00:00January 22nd, 2021|

The judicial system is one of three government branches designed as part of the U.S. system of checks and balances. Its purpose is to balance power, ensure laws align with the U.S. Constitution, and provide criminal and civil remedies where the law is breached. Still, [...]

Increase in California Homestead Exemptions Starting January 2021

2021-01-12T21:06:12+00:00January 12th, 2021|

A homestead exemption law change effective January 1, 2021, protects California homeowners pursuing Chapter 7 bankruptcy. Previously, homestead exemptions capped out at $75,000 for single people and $100,000 for married couples. Senior citizens and those with disabilities enjoyed moderately more significant thresholds at $175,000. However, [...]

What Happens if Your Employer Files for Bankruptcy?

2020-12-21T18:29:23+00:00December 21st, 2020|

Employers filing for bankruptcy is one of the most damaging things to happen to employees, especially during the holidays. Experiencing a loss of income is devastating, but even more detrimental is the potential loss of health benefits and retirement funds you spent years accumulating. Fortunately, [...]

What Is Bankruptcy Fraud?

2020-12-14T21:24:53+00:00December 14th, 2020|

Remember that time there was a pandemic, and the government gave out loans to small businesses to keep them afloat and, people being people, what was intended for good was sometimes used fraudulently? Oh, wait. That was PPP during COVID, and investigations are now occurring. [...]

The Bankruptcy “Means Test”: What it Means?

2020-11-30T23:39:43+00:00November 30th, 2020|

In a nutshell, the bankruptcy means test determines whether you're eligible to file for Chapter 7 bankruptcy. Like most things in life, however, it's not that simple—the means test factors in a couple underlying "tests" to determine your ultimate eligibility. The underlying factors include things [...]

Is a Fear of Bankruptcy Holding You Back?

2020-11-11T00:00:04+00:00November 10th, 2020|

According to data collected from the 2019 U.S. Census, Americans are in debt by an average of $90,460. Gen Xers have the highest amount of debt at an average of $135,84. Gen Z, which only comprises ages 18-23 in terms of their ability to obtain [...]

Can Filing for Bankruptcy Save Your Small Business?

2020-10-23T17:21:01+00:00October 23rd, 2020|

An August 2020 survey by the U.S. Census Bureau that measures the pulse of small businesses in the U.S. revealed that nearly 75% of its respondents report a moderate-to-large negative impact due to the Covid-19 pandemic. The data collected in October also revealed that many [...]

When Does Bankruptcy Leave Your Credit Report?

2020-10-08T21:50:36+00:00October 8th, 2020|

Covid-19 is still going strong, and so is the economic fallout. Most banks are expecting billions in fourth-quarter losses. The retail and hospitality industries have seen store closures and bankruptcy filings, and many expect personal bankruptcies to rise. Filing personal bankruptcy means you get immediate [...]

Keeping a Car Loan Through Bankruptcy

2020-09-24T00:27:21+00:00September 24th, 2020|

2020 is the year of Murphy's Law in many ways, and Covid-19 is no exception. Bankruptcy filings are increasing, and more may be on the precipice. If you're considering filing for bankruptcy, you may have a lot of questions. A common question that often comes up [...]

Will Personal Bankruptcies Rise Due to Covid?

2020-09-10T21:54:43+00:00September 10th, 2020|

In our last blog, we talked about all the business bankruptcies among various industries occurring as a result of the Covid-19 crisis. As unfortunate as those bankruptcies are, we wish we could say that the financial fallout is limited to businesses, but that is simply [...]