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    A Brief Overview of the Fairness for Struggling Students Act

    Last updated 8 months ago

    Bankruptcy attorneys are dedicated to helping all consumers find a way out of their financial troubles. For that reason, most bankruptcy attorneys are proponents of the Fairness for Struggling Students Act that seeks to extend bankruptcy relief to individuals who are overwhelmed by student loan debts. Today, neither federal loans nor private loans are eligible for bankruptcy discharge, but this 2013 law seeks to change that by restoring the 2005 legislation that permits the discharge of private student loan debt.  

    When you need a solution to your debt problems, call the Golden State Law Group of San Diego. Our experienced attorneys have flawless records, and we can help you find debt relief and put an end to foreclosure proceedings or liens. To speak to a bankruptcy attorney, contact our law office online or give us a call today at (858) 240-2480.

    Charges That Should Never Be Left to Your Credit Card

    Last updated 8 months ago

    Credit cards are important financial tools, and most Americans rely on these powerful pieces of plastic to make essential purchases every day. While credit cards are increasingly valuable for building credit, helping consumers get better interest rates, and even securing a good job, some charges should simply never be put on a credit card. Read on to find out which debts are better funded by other sources.

    Tuition Payments

    Because predatory lenders often make it far too easy for college students to obtain credit cards, young people may not even look at other options when it comes to paying their school expenses. Unfortunately, credit card debt can pile up quickly, and compounding interest rates make these financial burdens almost impossible to overcome. Explore your options for low-interest loans, scholarships, grants, and part-time work instead.

    Tax Payments

    Have you ever been surprised by your tax burden with the IRS? Like most consumers who aren’t expecting large liabilities, you may reflexively put your tax debt on a credit card. But payment processors collect fees, and you likely have lower interest rates available directly through the federal government.

    Major Expenses

    Debt relief attorneys generally advise against putting any single major expense on a credit card whenever possible. For example, many young couples charge a costly wedding or expensive vacation to their credit cards with the expectation that they will simply pay it off down the road. While it may be less exciting to take a trip that is within your means, your best bet financially is to save up for luxury expenses until you can truly afford them.

    If you live in Chula Vista, Mission Valley, San Diego, Escondido, or Mira Mesa, the Golden State Law Group is here for you. Our experienced team of attorneys has successfully helped countless CA clients navigate their legal options for bankruptcy and debt relief, and we can help you fight for closure. Begin your new financial future by calling our attorneys at (858) 240-2480.

    What Happens to Unsecured Debt In Chapter 7 Bankruptcy?

    Last updated 9 months ago

    In bankruptcy law, the term unsecured debt refers to any debts that are not tied to property. Common examples of unsecured debt include credit card debt, some tax debt, and medical bills. If your attorney recommends a Chapter 7 bankruptcy filing, almost all of your unsecured debts can be discharged. Unfortunately, student loan debt does not qualify for bankruptcy relief, except in very limited circumstances. Child and spousal support also do not qualify for Chapter 7 relief.

    To find out if you are a good candidate for bankruptcy, contact the team of attorneys at the Golden State Law Group today. Our San Diego law office offers Chapter 7, Chapter 13, and debt negotiation services. Check out our online offers or call (858) 240-2480 today to get started.

    Why Bankruptcy Petitions Are Rising Among Senior Citizens

    Last updated 9 months ago

    The current economic downturn has left countless Americans struggling to make ends meet. Unfortunately, senior citizens burdened by debt and skyrocketing health care costs often find themselves at an even greater financial disadvantage. Here is how rising commodity costs, health care expenses, and insufficient savings have all contributed to the recent upswing in elderly Chapter 7 bankruptcy petitions.

    Unexpected Expenses

    All Americans have recently had to combat increasing commodity costs. Paying for daily expenses such as food, gas and electric bills, and housing has simply become incredibly challenging for men and women of all ages. When funds are exhausted, unexpected events such as theft or property damage from a natural disaster can push seniors to the brink of bankruptcy. Swamped with expenses, seniors have become the fastest-growing demographic of all bankruptcy filers.

    Health Care Costs

    With the onset of age, people are at an increased risk for developing chronic illnesses and suffering serious injuries even after minor falls. Seniors must often pay out-of-pocket for prescription medication, over-the-counter drugs, and doctor’s appointments. As the AARP reports, health care is the single biggest cause of the unprecedented spike in bankruptcy filings. After a major medical issue, seniors have little time to look for new jobs or to try to build up already depleted savings.

    Insufficient Savings

    Unfortunately, Social Security checks provide little relief from financial difficulties. More and more seniors today enter their retirement years with debt instead of savings. Even elderly Americans who have managed to set aside funds are frequently unable to reserve enough money to plan for unforeseen expenses.

    If you live in Chula Vista, Mission Valley, San Diego, Escondido, or Mira Mesa, the Golden State Law Group can help you find the best solution to your financial problems. To speak to a bankruptcy attorney, call (858) 240-2480 today. Our law office offers a free initial consultation, and we can help you fight foreclosure and liens and find debt relief.

    What Bankruptcy Can and Can't Do

    Last updated 9 months ago

    Bankruptcy law is a highly complex area, and only an experienced attorney can guide you through the process of finding relief from your debt. The first step in filing for bankruptcy is to understand what kinds of debts can be discharged. For example, bankruptcy can wipe out credit card related debt and other unsecured debts. Bankruptcy will also put an immediate stop to foreclosure proceedings, and your creditors will be legally prohibited from contacting you. Bankruptcy will also eliminate certain kinds of liens. However, bankruptcy cannot eliminate child support, alimony, or student loan debts.

    If you live in Chula Vista, Mission Valley, or San Diego, call (858) 240-2480 to speak to the skilled attorneys at Golden State Law Group. Our bankruptcy and foreclosure attorneys can help you select the best filing option so you can begin your road to financial recovery.

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