What Can and Cannot Be Repossessed by Creditors

gavel-and-toy-house

Repossession is when a creditor gains control of property used as collateral for a loan that’s in default. A creditor reserves the right to take away something you own if you violate the terms of the agreement. However, there are rules they must follow. If you’ve failed to make monthly payments, and/or are in default, […]

Is Loan Modification A Good Idea?

Loan-Application-on-clipbaord

A loan modification can help if you’re behind on paying a loan, such as a mortgage. Defaulting on a secured loan can result in the loss of your home, car, or other valuable possession. Although refinancing a loan is one possibility that can avoid, for example, foreclosure, it may also be possible to modify your […]

Top Causes of Business Debt

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Small businesses acquire debt for various reasons. If the debt is too much to resolve, the business isn’t profitable, or demand for its products and services declines, it may be forced into bankruptcy. Outside forces can lead to increased business debt as well. When your company faces a large amount of debt, options may include […]

Student Loans and Bankruptcy

man using calculator with his student loan contracts

Student loan debt has surpassed credit card debt across the nation. Many are finding it difficult to pay back their student loans. Filing bankruptcy is a complex legal process and, despite the misconceptions, it is possible to discharge student loans. However, the legal requirements are complex and often discouraging. You should, therefore, hire a Los […]

How Do I Know I Can File for Bankruptcy?

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Bankruptcy is a financial option available to anyone. If you’ve tried to pay your bills, but still have too much debt, it can help improve your situation over time. You might consider speaking with a Los Angeles bankruptcy attorney for several reasons. Perhaps you’ve lost your job, are getting a divorce, or have high medical […]

Small Business Debt

Man in front of small business

Owning a small business may be your dream, but starting one often requires borrowing money. Taking on the right amount of debt can be beneficial. However, this depends on timing. Too much debt is one reason half of small businesses fail in their first five years. There are many ways to deal with small business […]

Can Any and All Debts Be Dischargeable in a Bankruptcy Case?

man contemplating bankruptcy

When debts are discharged in a bankruptcy case, the debtor is freed of any legal obligation to pay them. Creditors can no longer take any collection action, communicate with the debtor, or pursue legal action. Your Los Angeles bankruptcy attorney will inform you of which debts are dischargeable. Whether your debt is dischargeable depends on […]

How to Get Rid of Second Mortgage Debt

reviewing mortgage with a consultant

Depending on your financial situation, making monthly payments on a second mortgage can be stressful. There are several ways to relieve some of your debt and free up some cash. If your second mortgage debt is an issue, your options include to: Pay more than the required monthly payment, especially if it has a higher […]

What To Do About Tax Debt

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The Internal Revenue Service is a powerful creditor and owing money to the IRS can have consequences such as seized assets, garnished wages, and liens on property. However, there are various ways to deal with the situation, from communicating directly with the agency to receiving tax debt help from a legal professional. Here are several […]