People worry about debt. They also worry about their credit score. One of the reasons people facing a difficult financial crisis avoid bankruptcy is because they are worried about its effect on their credit score and credit report in the future. However, while filing for Chapter 7 might lower your credit score in the short-term, it is often the quickest…
Filing for bankruptcy is not an easy decision. Many people will try to find ways to avoid filing, often moving debt from one credit card to another or borrowing more money to pay for existing obligations. One of the reasons people choose to avoid bankruptcy is they do not understand the process and are intimidated by the thought of standing…
Business owners in California could lose their business assets if they file for personal bankruptcy under certain circumstances. Whether your bankruptcy places your business in jeopardy will depend on the type of bankruptcy you file, the structure of your business, and the value of the assets. The Bankruptcy Group has years of experience helping business owners through difficult financial times…
A common question people in California who are considering filing for bankruptcy have is, “how much debt to I need?” This question is a reasonable one, as most people anticipate that there are specific rules and regulations governing bankruptcy. However, there is no minimum debt requirement to file for bankruptcy. The real question our attorneys at The Bankruptcy Group get…
Going through financial hardship is never easy, especially in our present day. For some people, incurring debt is the only way to keep their head above water. In some instances, an unexpected accident or illness can put any person under extreme financial duress. No matter the circumstances surrounding your financial situation, the results can be severe. Unfortunately, falling behind on…
Bankruptcy may be the best choice for people or businesses who can no longer afford to pay their debts. Bankruptcy allows people to obtain a clean slate by liquidating their assets to pay off debts, or by creating a repayment plan to reorganize and settle their debts. Bankruptcy proceedings are initiated when the debtor files a petition with the bankruptcy…
Bankruptcy may be able to help you reduce or erase your medical debt. However, medical debts are handled differently in each type, or “chapter,” of bankruptcy in California. Therefore, it is important to understand how bankruptcy affects medical debt before you file your petition. In this article, the Roseville Chapter 7 lawyers of The Bankruptcy Group will explain some key…
California is home to some of the most respected colleges and universities in the country. In the Sacramento area, students have opportunities to enroll at institutions like California State University (CSU), the UC Davis School of Medicine, and the McGeorge School of Law at the University of the Pacific. Unfortunately, while there’s no arguing that students can receive a world-class…