Bankruptcy and Gumption Most people come to talk to me about bankruptcy have been putting it off for years. People want to protect their “good credit” when all they are really doing is piling up bad credit. People worry that filing bankruptcy is “not how they were brought up.” They think they are better than Donald […]

Bankruptcy and Gumption Most people come to talk to me about bankruptcy have been putting it off for years.

Time for a Fresh Look at the "Undue Hardship" Bankruptcy Standard for Student Debtors

CREDIT REPAIR SCAMS – COMPANIES SUED FOR CHARGING ILLEGAL FEES AND MISLEADING CONSUMERS
Credit repair schemes

It is perfectly legal to file Chapter 7 bankruptcy in California without a lawyer. However, while nothing in the U.S. Bankruptcy Code will prevent you from filing bankruptcy without legal representation, it is financially unwise to declare bankruptcy without professional help from an experienced attorney. Continue reading to find out why you should never file Chapter 7 without consulting a Sacramento bankruptcy lawyer first.

Many clients have contacted us regarding serial bankruptcy filers-people who filed for bankruptcy two or more times. Since 1984, Congress has been attempting to deal with debtors who took advantage of the automatic stay while making few or no payments to their creditors. This month, we’ll look at how the Bankruptcy Abuse and Creditor Protection Act of 2005 (BAPCPA) enhanced penalties for serial filers.

Chapter 11 bankruptcy, which is also known as “reorganization bankruptcy,” is commonly used by C corporations, S corporations, limited liability companies (LLCs), and partnerships in California. Chapter 11 can also be filed by individuals, but these cases are so rare that Chapter 11 is primarily associated with small businesses and large companies. Our Sacramento bankruptcy lawyers explain what happens when a business enters Chapter 11, and discuss how Chapter 11 affects employees’ unpaid wages.

By STACY COWLEY and JESSICA SILVER-GREENBERG

Raid your 401(k). Ask your boss for a loan, load up on your credit cards, or put up
your house as collateral by taking out a second mortgage.

Those are some of the financially risky strategies that Pioneer Credit Recovery
suggested to people struggling to pay overdue federal tax debt. The company is one
of four debt collection agencies hired by the Internal Revenue Service to chase down
late payments on 140,000 accounts with balances of up to $50,000.

By STACY COWLEY

About 12 million people will get a lift in their credit scores next month as the
national credit reporting agencies wipe from their records two major sources of
negative information about borrowers: tax liens and civil judgments.

Study finds domestic violence, ‘coerced debt’ often go together
The following is an excerpt from a post by GreenPath regarding an study about the tie between physical abuse and financial abuse, by Susan Ladika/CreditCards.comm 26 September 2012