News

News

Top 9 Questions Couples & Partners Ask About Bankruptcy

young-couple-bankruptcy-financial-stress

The decision to file for bankruptcy is never an easy one. For married couples and those thinking about marrying their loved one, filing for bankruptcy can be even more complicated. Debt collection, foreclosure, and wage garnishment become not only personal problems, but your partner’s as well. To reduce the stress, here are answers to common […]

Supreme Court Clarifies Finality in Bankruptcy Proceedings

Supreme-Court-Building-Bankruptcy-Decision-2020

The issue of finality has been open to interpretation in bankruptcy cases. This means that what constitutes a final order in the context of a bankruptcy can be seen in different ways. This is important in knowing whether you can appeal a court ruling. The Supreme Court of the United States recently made an important […]

How Debt Affects Mental and Physical Health

debt-affecting-woman's-mental-health

Studies have shown debt has a negative impact on mental and physical health. The health effects of financial distress are the same whether you live in poverty or earn a high income and reside in an upscale neighborhood. And, when you fall into financial distress, your employer is unlikely to provide more than a slight […]

What Not to Do When Filing for Bankruptcy

File-For-Bankruptcy-form-on-clipboard-calculator-spreadsheet-white

Filing for bankruptcy can be a positive experience that helps regain your financial footing. However, there are certain steps that can hurt your bankruptcy case, even if they’re in good intention or accidental. Here is what you should avoid before filing: Don’t Lie About Your Assets Always be completely honest about your assets. Your case […]

How to Prepare for Chapter 7 Bankruptcy Meeting of Creditors

Male-Lawyer-meeting-of-Creditors-court

With most bankruptcy proceedings, it is an inevitability that you’ll have to meet with an attorney, a bankruptcy trustee and possibly creditors at some point in the process. When either individuals or businesses file for Chapter 7 bankruptcy the court will schedule a Creditors Meeting. Otherwise known as a 341 hearing, a Creditors Meeting is […]

Questions to Ask Your Loan Modification Lawyer

Family-Couple-Consultation-With-Home-Mortgage-Lawyer

There are all sorts of loans. Car loans, student loans, small business loans…the list goes on. But the one that individuals seek the most assistance with is a home loan. Falling behind on mortgage payments isn’t all that uncommon. Sadly, homeowners still feel a sense of shame when they default on their mortgage and tend […]

New Year. No Debt! Is Bankruptcy a Good New Year’s Resolution?

New-Year-Plans-Word-On-Notepad-cash-in-jar

Consumer debt surpassed $4 trillion in December 2018, according to the Federal Reserve. This includes revolving credit card debt, which now stands at over $1 trillion.1 At the end of 2018 alone, more than $41 billion in outstanding credit card balances was added. And, according to data from Experian, the average American has a credit […]

How Much Does it Cost to File Bankruptcy?

Cost-to-file-bankruptcy-change-100-dollar-bill-bankruptcy-form

Those that have never had a reason to consider bankruptcy as an option to combat mounting debt, most likely view it as a worst-case scenario. But if you are one of the thousands of Americans up to their necks in debt, bankruptcy is not only one of the last options, it can be a saving […]

What Is a Charge-off?

woman-credit-card-receipts-calculator-charge-off-debt

At OakTree Law, our Los Angeles bankruptcy attorneys assist clients with various financial matters. If you think having high credit card debt or missing a credit card payment is bad, having a charge-off on your credit report is worse. A charge-off occurs when you’ve missed several months of credit card payments. The creditor has essentially […]

How to Reduce Financial Stress During the Holidays

girl-eating-cupcake-while-sitting-beside-woman-in-blue-denim

People experience all kinds of extra stress during the holidays. From having more to do to feeling emotional about friends and family you are unable to visit, there are numerous factors. Another stressor is the financial toll the holidays can take. Shoppers often rely on credit cards to get them through the holiday season, which […]