by Geoffrey Purkis | Sep 4, 2023 | Uncategorized
An automatic homestead in California is a legal protection that shields up to $600,000 of equity in your home from creditors. It is automatic because you do not need to file any paperwork to claim it. All homeowners who occupy their primary residence in California are...
by Geoffrey Purkis | Aug 24, 2023 | Uncategorized
Chapter 7 and Chapter 11 are both chapters of the United States Bankruptcy Code that pertain to businesses. They offer different approaches for addressing financial difficulties and restructuring debt. Here’s a comparison of Chapter 7 and Chapter 11 bankruptcy...
by Geoffrey Purkis | Jul 29, 2023 | Uncategorized
Chapter 13 bankruptcy is a type of bankruptcy that allows individuals to propose a repayment plan to pay all or a portion of their debts over three to five years. During this time, you are required to make monthly chapter 13 plan payments to a bankruptcy trustee who...
by Geoffrey Purkis | Jul 29, 2023 | Uncategorized
Dealing with debt collectors can be stressful- they call you non-stop and send you a lot of collection letters. It is essential to approach the situation calmly and responsibly. Be smart about how you communicate with debt collectors Debt collectors will persistently...
by Geoffrey Purkis | Jul 29, 2023 | Uncategorized
Request Validation of the Debt: First, you should send a written request to the debt collector asking them to validate the debt. In your letter, state that you are disputing the debt and request them to provide evidence that the debt is legitimate and that they have...
by Geoffrey Purkis | Jul 29, 2023 | Uncategorized
If you find yourself in a situation where your home’s value has decreased, or you owe more on your mortgage than the property is currently worth (commonly known as being “underwater” or having negative equity), there are several options you can...
by Geoffrey Purkis | Jul 29, 2023 | Uncategorized
In Chapter 13 bankruptcy, the debtor proposes a repayment plan to the court to pay off their debts over a three to five-year period. During this time, certain major financial decisions may require court approval to ensure that they align with the terms of the...
by Geoffrey Purkis | Jul 18, 2023 | Uncategorized
There are various emergencies that can lead to bankruptcy if you aren’t adequately prepared to handle them. These emergencies can have significant financial implications, and without proper planning, they can quickly overwhelm an individual or a business. Some...
by Geoffrey Purkis | Jul 18, 2023 | Uncategorized
If you are or have been unemployed, underemployed, or on disability, bankruptcy could be of significant relief to you. Bills of all types go unpaid when not enough money comes in and at some point, something must be done to help you recover. Bankruptcy is a way for...
by Geoffrey Purkis | Jul 10, 2023 | Debt Consolidation, Debt Relief
Paying off your debt without resorting to bankruptcy is a responsible and commendable decision. Bankruptcy should generally be considered as a last resort when all other options have been exhausted. Here are some steps you can take to pay off your debt: Create a...