If you have filed for Chapter 13 bankruptcy in California, you may wonder if paying off the bankruptcy plan is possible in a shorter amount of time. There are only two ways to get out of the mandatory payments early. Pay 100% of all claims The first way to get out of...
If you are struggling to stay current with your debts, filing for Chapter 13 bankruptcy may be worthwhile. After a California judge receives your petition, an automatic stay of creditor activities will go into effect. In a Chapter 13 proceeding, debts are repaid over...
Debts may accumulate far beyond where a California resident can cover the balances. Upon exhausting all other options to deal with them, many will explore protections under federal bankruptcy laws. Personal bankruptcy could involve filing for Chapter 7 or Chapter 13....
Nobody wants to think about both bankruptcy and end-of-life planning at the same time, which is understandable. However, you should at least be aware of how the latter can impact the former so that you can be prepared and plan accordingly. Can bankruptcy affect your...
Out-of-control debt can cause significant stress. In some cases, people living in California may need bankruptcy protection while they take steps to manage their finances. Chapter 13 and Chapter 11 bankruptcy plans allow individuals to keep their assets while managing...
One of the most common factors that piles on to lead people to file for bankruptcy in California is tax debt. Unfortunately, this is one of the types of debt that is generally not dischargeable. One advantage of Chapter 13 bankruptcy is that is may allow people to...
Many California residents seek debt relief through bankruptcy. Chapter 13 bankruptcy focuses on debt elimination and not debt reorganization like Chapter 7. In Chapter 13, debtors make monthly payments approved by the court, and the appointed trustee then distributes...
California residents who are seeking Chapter 13 bankruptcy relief have tax considerations to evaluate before filing and during the repayment process. Not every borrower may file for Chapter 13, but many are eligible to as long as they meet specific requirements, have...
Many people in California file bankruptcy when their debts become so unmanageable that there is little other option available. For many who can qualify, a Chapter 7 bankruptcy discharge of unsecured debt puts them in a situation where they can begin to rebuild their...
Debtors may seek specific bankruptcy protections based on their current debt status. A California resident who passes the Chapter 7 means test could undergo a liquidation bankruptcy and put a relatively straightforward end to dealings with creditors. Those whose...