Many people in California are struggling under a significant debt burden that they may find themselves unable to repay. This is reflected in statistics in the credit-card industry that show that the rate of bad debt is climbing for people across the country. The rate...
Bankruptcy
Rebuilding positive credit after bankruptcy
Many people in California find bankruptcy a potentially appealing option, but they are worried about the long-term effects on their credit scores. After all, Chapter 7 bankruptcies remain on a person's credit report for 10 years while Chapter 13 bankruptcies, with...
Getting business loans after a bankruptcy
Getting a business loan in California can be complicated for those who have filed for bankruptcy in the past. This is generally true whether a person filed for a liquidation or reorganization bankruptcy. However, it is usually easier to get financing the farther...
Student loan bankruptcy rule may soon change
Levels of student debt are higher than they have ever been for students and ex-students in California. However, discharging this debt in bankruptcy is nearly impossible. To help alleviate this problem, the American Bankruptcy Institute's Commission on Consumer...
Common lines debt collectors use during phone calls
Debt collectors in California and other states may try to convince debtors that it is in their best interest to pay off a debt. In most cases, debt collectors are trained to say whatever is most likely to solicit the response that they want. For instance, they may say...
How out-of-network charges surprise patients
Some people in California may be among the 1 in 7 nationwide who are surprised by medical bills from out-of-network providers despite visiting an in-network hospital. The incidence varies from state to state, with admissions that include at least one out-of-network...
Reasons to file for bankruptcy
A California resident who is struggling with debt might want to consider several options before filing for bankruptcy. In some cases, it's possible to negotiate a payment plan with creditors. A debtor could also consider credit counseling. Some credit counseling...
Circumstances dictate the appropriate type of bankruptcy
Many California residents struggle with debt for some years before it becomes too burdensome or simply impossible to continue on any longer. The reluctance to seek help is often the result of a perceived stigma of acquiring debt that is unmanageable, yet unforeseen...
Waiting period required before filing for bankruptcy again
High living expenses in California coupled with a crisis like a job loss or serious health problems sometimes send people into bankruptcy. Although bankruptcy is meant to give people a fresh financial start, the law generally recognizes that people might need to file...
Dealing with major medical bills
Many California residents struggle to pay their bills, especially if they are hit with an insurmountable sum of medical debt. In many cases, the people for whom medical bills loom large are those least able to handle the financial burden, including the poor and the...
