Tens of thousands of California residents file Chapter 7 bankruptcies each year, and the vast majority of them own cars. Many of them put off filing for bankruptcy because they were worried about their vehicles being seized and sold off to pay their creditors, but...
The California Franchise Tax Board has an Offer in Compromise program available for residents who want to settle tax debt. The program allows residents to offer a lower amount to pay the undisputed final tax liability. The Internal Revenue Service also has an OIC...
If your nonprofit in California is struggling, you don't necessarily have to shut it down. Bankruptcy law allows nonprofits to file for Chapter 11 bankruptcy. Operations Nonprofits have the option to continue operating under a Chapter 11 bankruptcy. It delays your...
If you file for Chapter 7 bankruptcy in California, a trustee will be assigned to your case. This person typically performs a variety of functions that help to ensure that each party's interests are preserved throughout the bankruptcy process. The trustee inventories...
A California small business might find itself debt-laden. Subchapter 5 of Chapter 11 bankruptcy could provide a solution for such business owners. Subchapter 5 and small businesses Chapter 11 bankruptcy provides a way for businesses to remain in business during...
Filing for bankruptcy is a decision that can carry heavy, if only short-term, consequences. Though filing for bankruptcy is becoming more common in this Whac-A-Mole economy, it’s still a stressful and emotional decision. Here are a few signs that you should – or...
California individuals and businesses have options when struggling with debt. Bankruptcy is often the best for a financial refresh. Filing for bankruptcy Filing for bankruptcy is a decision that should not come easily. It’s important to first research your options if...
Filing for bankruptcy can be a complicated process for some California residents. Ultimately, most people filing for bankruptcy are looking for a bankruptcy discharge. This is the court order that frees someone from the obligation to pay back any qualifying debt. What...
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...