Redwood City California Bankruptcy Law Blog
Why fewer California debtors are filing for bankruptcy
According to the chief justice of the U.S. Supreme Court, bankruptcy filings are at their lowest in roughly 10 years. In 2010, there were 1.53 million cases filed throughout the country. This was compared to just over 770,000 cases filed as of September 2018. However,...
Disabled vets now have more protection in bankruptcy
Military veterans in California may find themselves struggling under the crushing weight of excessive debt. This can be especially true for disabled veterans who rely on military pensions and benefits to support themselves. From medical bills to personal needs, costs...
Bankruptcy filings eventually removed from credit report
Different types of bankruptcy have different impacts on the credit of the petitioner. In some cases, California residents who file for bankruptcy will have the filing reported on their credit for 10 years; in other cases, it's reported for only 7 years. The two most...
National health care costs lead many to crowdfunding options
Do you or someone in your family have a current medical need? Perhaps, your finances were stable until you or a loved one experienced adverse health symptoms. Repeated medical visits or surgery can throw finances out of whack, even if you have health care...
Debt and low retirement savings lead elderly to bankruptcy
Many older adults in California struggle with financial hardships, and increasing numbers of them are filing for bankruptcy. The Consumer Bankruptcy Project, which collects data about bankruptcy filings, reported that 12% of filers in 2016 were age 65 or older. A...
The rules about filing for Chapter 7 bankruptcy
Those who are looking for debt relief in California may be interested in filing for Chapter 7 bankruptcy. However, debtors who have already done so in the past eight years may not be allowed to file. Furthermore, individuals who have filed for Chapter 13 bankruptcy...
What to consider when choosing a bankruptcy type
California residents may want to consider filing for bankruptcy if they are struggling to repay a debt. The type of bankruptcy an individual files for depends on what types of debt they have and what kind of protection the law says that they can seek. A Chapter 7...
2 in 3 young adults have credit card debt
Millennials in California and elsewhere in the nation were once known for being careful with credit card debt. However, this doesn't appear to be the case anymore. A survey by a credit card comparison company reveals that two in three young adults have credit card...
What to know about filing for Chapter 7 bankruptcy
Chapter 7 bankruptcy offers a way for debtors in California and other states to return to solvency. However, not everyone will qualify for a liquidation bankruptcy. To qualify, an individual will need to pass the means test. It's important to note that only...
Understanding how high levels of debt might affect your future
There may be few things in life as stressful and daunting as dealing with overwhelming financial obligations. If you know how it feels to struggle under the weight of debt, you may wish to gain a better understanding of your available options for relief, but deciding...
