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What Is a Chapter 13 Hardship Discharge?

Chapter 13 Bankruptcy Hardship Discharge

Chapter 13 bankruptcy, or the wage earner’s plan, is not typically associated with a discharge of debt. Its foundation is a three- to five-year repayment plan that lets you pay out past due balances. You don’t need to surrender property while paying your debts and rebuilding your finances. But it is possible to ask for […]

Can I Travel While Filing for Bankruptcy?

Can I Travel While Filing for Bankruptcy

There are lots of activities that financial advisors and attorneys warn against while filing for bankruptcy. For example, you don’t want to pay back any personal loans in the 90 days leading up to your bankruptcy petition. Charging up your credit cards can be considered fraud in some cases. Your bankruptcy case can be dismissed […]

California Statute of Limitations on Debt

California Statute of Limitations on Debt

California’s statute of limitations on debt is 4 years, per the state’s Code of Civil Procedure § 337. A statute of limitations is the amount of time you have to take legal action. In the case of debt, it refers to how long a creditor has before it can ask a court to force you […]

How Will My Inheritance Affect My Bankruptcy?

Inheritance Affect My Bankruptcy

Are you worried about how your inheritance will affect your bankruptcy? Unfortunately the answer isn’t a simple one. Having an inheritance won’t prevent you from filing for bankruptcy, however, the inheritance becomes property of the bankruptcy estate if you received it within 180 days after filing. This process differs depending on the type of bankruptcy […]

Is California a Community Property State?

downtown Los Angeles during sunset

Depending on the state they live in, the property acquired by a husband or wife once they are married is considered to be community property. This rule applies unless both spouses have agreed to otherwise. Here is a look at how this works in community property states and how California state law can impact your […]

How Do You Qualify for a Loan Modification?

man-getting-a-loan-modification

A loan modification can help if you’ve fallen behind on mortgage payments or are in danger of foreclosure on your home. Although this can be a beneficial solution in times of financial struggle, qualifying for a mortgage loan modification can be difficult. It often requires the help of a loan modification attorney. Here’s a look […]

What If I Can’t Afford a Bankruptcy Attorney?

cant afford bankruptcy attorney

Filing for bankruptcy can help you get back on track financially, but it’s hard to find an affordable bankruptcy attorney. Legal advice, guidance, and preparing paperwork comes at a cost. But not everyone who files can afford a bankruptcy lawyer. While one option is to represent yourself as a “pro se” debtor (a complex process […]

Can a Bankruptcy Discharge Be Denied?

bankruptcy discharge be denied

A discharge of debt is the primary reason people file for bankruptcy. But when filing for bankruptcy, there are many pieces to a complex legal puzzle. You must be honest about every financial asset and action leading up to your filing. Any mistake in the process can result in denial of your bankruptcy discharge. Whether […]

What Is Loss Mitigation?

Homeowner-Signing-Mortgage-Loan-Document

A job loss, pile of medical bills, or other financial hardship can lead a homeowner to face the prospect of foreclosure. In the mortgage-servicing industry, “loss mitigation” is when borrowers and loan servicers work together to lessen the loss when the borrower defaults. The lender, sometimes referred to as an investor, can take on less […]