The means test determines whether an individual can file for Chapter 7 bankruptcy. These guidelines compare your income minus certain expenses to the median income of other same-size households in California.  Learn more about how to apply the means test when...

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...

Escalating personal debt, unrepayable credit card bills and constant creditor calls may lead some Californians to think about their options for debt relief. For some people, personal bankruptcy can be an important way to work toward a new financial future. There are...

California residents who are struggling to keep up with their debts may benefit from filing for bankruptcy. However, it should be seen as a last resort for those who don't have any other options available. In the case of a short-term financial shortfall, it may be...

Some California residents may be a single medical emergency away from filing for bankruptcy. This is the takeaway from a study conducted by a professor at CUNY Hunter College in New York and several others. The study looked at 910 random bankruptcy filings between...

In most cases, those in California and throughout the country who have student loan debt cannot discharge it in bankruptcy. This policy was put in place because of a fear that people would simply file for bankruptcy after getting their degree. However, there are...

Financial analysts in California and around the country have been voicing concerns about a looming consumer debt crisis for several years, and their arguments are growing more strident as American households sink deeper and deeper into debt. The financial information...

California residents facing bankruptcy may be interested in learning about the bankruptcy means test. This test helps to determine whether an individual who is in debt meets the qualifications to file for Chapter 7 bankruptcy. In times past, it was easier for an...

The concept of allowing a debtor to get relief from unmanageable economic distress with a fresh start has a long history in the U.S., dating back to bankruptcy's incorporation within the Constitution. Although bankruptcy operates under federal jurisdiction, California...

According to a report from Lending Tree, California residents who file for bankruptcy may be able to rebound from it relatively quickly. The report indicates that about 40 percent of Americans have a credit score of 640 within a year of filing. That improves to 65...