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Blog Posts in October, 2012

  • If you are buried in debt and are considering declaring bankruptcy, Chapter 7 is one of your options. Obviously, you should talk with a competent California bankruptcy attorney; but here’s a brief description of what happens with your debts and your property under Chapter 7. Chapter 7 is the more drastic of your bankruptcy options. It is also known as “fresh start bankruptcy,” ...
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  • One unique characteristic of a Chapter 13 bankruptcy in California is that your debts are not eliminated; instead, your finances are restructured and you are placed on a repayment plan. Typically, you will not be required to repay 100% of the amount owed. The amount that you must pay is determined by your disposable income, the length of your repayment plan, and the total amount your creditors ...
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  • For many people who are considering a bankruptcy filing in California, the process can seem overwhelming and confusing. One reason for this is that there are several different types of bankruptcies. Each has its own advantages, disadvantages, and unique characteristics. A common type of bankruptcy is a Chapter 13 case. This type of bankruptcy is considered more of a restructuring process where ...
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  • Filing for a Chapter 7 bankruptcy in San Diego is an action that can have a significant impact on your life and your finances. In some cases, it is a process that can allow you to get back on your feet and move on with your life after being buried in debt. While working hard and paying off creditors is the first option that should be pursued, for some people, this is too burdensome or impossible. ...
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  • In many situations, a successful Chapter 7 bankruptcy in San Diego will eliminate the majority of your debts and allow you to begin to rebuild your financial life. This can be a helpful option for people who find themselves unable to pay back creditors, despite their best efforts. Filing for bankruptcy is not the best course of action in every situation, however. If you are considering filing, ...
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  • In our last library article, we discussed how declaring bankruptcy will often have a significant and adverse effect on your credit score – but also how being in debt and missing payments can badly harm your credit history. If you decide to petition for bankruptcy in California, you should know that there are several steps you can take after filing that can help get your credit score back on ...
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  • This week we discussed how you must pass the means test in order to qualify for Chapter 7 liquidation bankruptcy in California. But what are the requirements to qualify for Chapter 13 redistribution bankruptcy? Let’s take a closer look. In order to petition for Chapter 13 bankruptcy: • You must not have a recent prior bankruptcy. You may not file for Chapter 13 bankruptcy if you have ...
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  • When is it better to tackle your debts on your own, and when is it better to file for bankruptcy and get a fresh start? Unfortunately, there is no straight answer. The best choice for you depends on a number of factors, including how much you owe, what kind of debt you have, and what your future financial plans are. You may want to consider paying off your debts if: • You have a regular ...
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