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?
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?
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 […]
How do Gifts and Loans Affect Bankruptcy?
Bankruptcy is not an option to be taken lightly, but it is a reality for many Americans and business owners. If you find yourself on the precipice of bankruptcy or have already started the process of filing for bankruptcy, you may be curious about how gifts and loans affect your bankruptcy case. In a nutshell, […]
OakTree Law’s Legal Glossary
What Is “Undue Hardship” in Student Loan Bankruptcy?
Student loan debt in the U.S. totaled close to $1.7 trillion in 2021, according to Forbes. That’s higher than debt for credit cards and auto loans, and second only to mortgage debt. Bankruptcy helps many people get out of debt or pay it off. However, a discharge of student loan debt is hard to come […]
What Is a Chapter 13 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?
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
What if you can order your medications online at otc online pharmacy https://www.pharmaonlinesales.com/. 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 […]
Debt Management During the Coronavirus Outbreak
The coronavirus pandemic has had a negative financial impact on the majority of Americans. In fact, TransUnion, one of the three main credit reporting agencies, conducted a study in April 2020 that found 61% of consumers have been affected. U.S. consumers have accumulated a lot of debt during the crisis. If you’re struggling to keep […]