Dealing with the burdens that can accompany high amounts of debt can be an intimidating experience. For individuals in California that are in the early stages of life, similar issues could have a significant impact on their futures. Knowing how to prevent financial concerns from becoming an issue can be difficult, and those who encounter monetary hardships could benefit from speaking with a bankruptcy attorney for guidance on their available options.
Constantly dealing with high amounts of debt can be a substantial burden. Individuals in California who experience the challenges of debt may suffer in a variety of ways, and without experience in such matters, they may be uncertain how best to approach the situation. While there are numerous outlets to assist with monetary hardships, those who are considering debt settlement might find it advisable to proceed with caution, as bankruptcy could prove to be a healthier financial solution.
A medical emergency can occur at any moment and may leave an individual in California with little choice but to visit a medical facility. Unfortunately, with the extensive costs of treatment, a single visit to the hospital can have devastating financial ramifications. Those who experience hardships due to substantial amounts of medical debt may suffer a lesser quality of life for extended periods, and they may wish to explore the benefits of seeking relief through the available outlets, such as bankruptcy.
As the economy grows, many individuals in California may feel less hesitant about taking on heavier debt loads. However, while a credit card balance may appear manageable at first, if an individual falls behind on payments, the consequences can be severe. Not only can similar issues pose a threat to one's financial stability, but studies suggest that they can also have an impact on a person's well-being. Those who wish to prevent such harm could find it beneficial to consult with a bankruptcy attorney for guidance in pursuing relief.
If you remember nothing else from this post, remember this one rule, lenders don't give a damn about what your judgment for dissolution says.
The following summary was written by Robert Christopher and is being reproduced by permission of Mr. Christopher. The views and opinions expressed in his article are those of the author and do not necessarily reflect the official opinion of JVS Law. The information and/or opinions in Mr. Christopher's summary are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness.
In HSBC Bank Nevada, N.A. v. Aguilar, the Appellate Division of the Los Angeles County Superior Court held that a bank was not required to present any proof in order to obtain a default judgment against a holder of a credit card.
The National Association of Consumer Bankruptcy Attorneys (NACBA) prepared a report regarding the dischargeability of student loans in the bankruptcy court. I have summarized the report below, but click here to review the entire report .
Credit card delinquencies have reached a six-year low, according to the latest Credit Card Index from Fitch Ratings according to Consumer Bankruptcy News. The report also shows credit card charge-offs ticking up for the first time in the past several months.