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Bankruptcy Posts
A few months ago American Airlines filed for bankruptcy.  Many people fear bankruptcy and see it as the death of their financial lives.  What they do not realize is that bankruptcy is the best route to get a fresh start and their finances in order.  American Airlines predicts the same.  The Los Angeles Times reports:...
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An article in the Los Angeles Times today told of a San Bernardino family who was able to win back their house. The foreclosure was rescinded.  Now it is up to her and Bank of America to come to a settlement on the loan terms.  Here is an excerpt from the article:   Foreclosure commonly...
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Chapter 7 vs Chapter 13 Bankruptcy When you are considering filing for bankruptcy, it is important that you know the difference between chapter 7 vs chapter 13 bankruptcy.  Each has its advantages and disadvantages and each has its requirements for qualification.  A person may qualify for one and not for the other, and in some...
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Many people file bankruptcy because of a pending lawsuit.  Being personally served with a Summons to go to court can be a daunting experience.  And filing for bankruptcy will put an immediate end to most lawsuits. Many people I speak to are surprised that a credit card company or some other company that now owns...
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We’ve all heard it before.  Bankruptcy destroys your credit.  Well that’s true in some cases, but you’d be surprised to hear that in most cases, it is actually the opposite.  In most cases where our Los Angeles bankruptcy lawyers file bankruptcy, bankruptcy improves credit scores.  What???  That’s right and its quite simple if you take...
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Bankruptcy Can Help Prevent Foreclosure in Certain Situations One of the most common questions I get is whether or not bankruptcy will help a person keep their house from foreclosure. This is a common misconception that many people have about bankruptcy. Many people believe that if they file for bankruptcy they’ll be able to keep...
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