Bankruptcy and Credit Rehabilitation
A recent article in the Los Angeles Times discusses the impact bankruptcy has on credit scores. The newspaper goes on to state: Dear Liz: I had credit scores over 800 with no late payments ever. Unfortunately, a medical issue required me to charge $24,500 to a credit card. That led to a bankruptcy, which was discharged in July 2011. My scores dropped to 672, and they're currently around 680. I'm paying two unsecured credit cards in full each month plus an auto loan that was reaffirmed in bankruptcy. I would like to continue rehabilitating my scores by applying for another loan.
Student Loan Debt
Most people know that it is nearly impossible to get rid of student loan debt through bankruptcy. With the rising costs of tuition more and more people are being crippled with overwhelming student loan debt. An article by The Los Angeles Times details stories of individuals that have been financially crushed by their student loan debt. The article states: Brenda Small didn't think twice about taking out student loans to pay for nursing school in the late 1980s. She figured she could easily pay off the $20,000 bill — until an injury a few years later left her permanently unable to
Stockton, California on the Brink of Bankruptcy
In recent years, many people that have been overwhelmed by the housing market crash or laid off as a result of the recession have filed for bankruptcy. However, many large and well-known companies have gone through bankruptcy as well including Kodak, General Motors, Chrysler and the local Los Angeles Dodgers. Now according to the New York Times, it appears likely that the City of Stockton, California may file for bankruptcy soon. The New York Times reports STOCKTON, Calif. — The signs of better times are easy to spot downtown: the picturesque marina on the San Joaquin Delta, the gleaming waterfront sports
Welcome To Our Website!
Welcome to our new bankruptcy website! This website will be dedicated to providing bankruptcy information to the general public. This bankruptcy blog is maintained by Burbank Bankruptcy Attorneys at MacLean Chung Law Firm.