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When to Hire a Student Debt Lawyer?

Student loan debt can be an excessive burden. According to The Institute for College Access & Success, the average debt for the Class of 2019 (earning a bachelor’s degree) was nearly $29,000. In some states, it was close to $40,000.1 However, many students owe substantially more. Whether you owe on a federal or private student […]

Bankruptcy Dismissal vs. Discharge

When a bankruptcy case is filed with the court, it may be dismissed or discharged. The terms are often confused, especially among first-time filers. Here, we will explain the differences between bankruptcy dismissal vs. discharge and how the court’s decision ultimately affects your case. What Is a Bankruptcy Dismissal? When you receive a dismissal, it […]

OakTree Law’s Guide: How to Prepare for the Next Recession

How to Prepare for the Next Recession

A normal occurrence in the economic cycle, a recession is a significant and prolonged downturn in economic activity. It may last from a few months to years. According to a 2022 survey from Empower and Personal Capital, 74% of U.S. consumers expressed concern about the economy going into recession. Economists and organizations have been warning […]

How Does a Creditor Garnish Wages?

How Does a Creditor Garnish Wages

Wage garnishment is a legal procedure in which the court orders your employer to withhold a portion of your earnings to pay back your debt. It’s a typical process—around 7% of workers in the U.S. each year are left asking, “How does a creditor garnish wages?”. However, there are rules and limitations. Whether you’re facing […]

Pro’s and Con’s of Debt Settlement

Pro’s and Con’s of Debt Settlement

Debt settlement can help you pay off large amounts of debt. It requires making a lump-sum payment to a debt settlement company, or depositing money each month into an escrow account until there’s enough for it to negotiate with the creditor. This often means paying less than your outstanding balance. While this strategy can work […]

Can I Afford a Bankruptcy Lawyer?

Can I Afford a Bankruptcy Lawyer

Filing for bankruptcy is an option if you’re experiencing financial hardship and drowning in debt. However, the process itself can be costly when you consider filing fees and attorneys’ fees. Just what can you expect to pay a bankruptcy lawyer? There are different factors to consider. While filing fees are the same across the U.S., […]

Should I Hire a Wage Garnishment Lawyer in California?

Should I Hire a Wage Garnishment Lawyer in California

If you owe money to a creditor, they can get a court order to collect it, often through wage garnishment. A creditor authorized to garnish wages will take a portion of what you earn, possibly leaving little left to spend. However, you can stop this from happening by hiring a wage garnishment lawyer. Reasons for […]

What Is a Deficiency Judgment?

What is a Deficiency Judgment

  Foreclosure is often misunderstood by consumers. If you’re in default on a secured loan, the lender can initiate a process resulting in the forced sale of your property to cover the debt. But this doesn’t always cover the balance owed in full. As the debtor, you must then make up the difference; the lender […]

What Is the Power of Sale Clause in Foreclosure?

What is the Power of Sale Clause in Foreclosure

  A power of sale clause is included in most deed of trust mortgages. It lets a trustee proceed with a non-judicial foreclosure if you default on mortgage payments. In short, this enables foreclosure without going to court. About half of U.S. states allow for non-judicial foreclosure, which is a faster and less costly process […]