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Bankruptcy News

The Latest Bankruptcy & Debt Relief News by Brian Barta
Bankruptcy Attorney Brian Barta > Bankruptcy News (Page 4)

If I File For Bankruptcy Do I Get To Keep My Property?

Stop foreclosures.

One of the first and most frequently asked questions I get as a Sonoma County Bankruptcy Attorney is, “If I file for bankruptcy do I get to keep my property?”  Clients are understandably anxious about losing their car and not being able to get to work, or even more importantly, they want to make sure their home will be safe.  Clients often have substantial retirement accounts that they absolutely cannot lose. Short Answer: Yes The short answer and the good news is, “Yes, you can keep your property if you file for bankruptcy.”  In fact, in the most common type of bankruptcy...

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Why Borrowing Against Your 401(K) May Be a Bad Idea

401K retirement borrowing

Twenty-five percent of Americans have made early withdrawals from their retirement plans using a 401(k) loan, according to a recent report by online financial guidance service HelloWallet. However, many people who tap into their retirement funds may do so without being fully aware of the risks involved in doing so. Particularly in the aftermath of the recent recession, people who borrow against their retirement savings often do so to pay off other, higher-interest debt such as credit card balances, vehicle loans or medical bills. Others use the funds to make ends meet when dealing with unexpected financial difficulties such as a...

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Women Uniquely Affected By Medical Debt

Several studies have recently shown that women in the United States are uniquely affected by medical debt and carry around more medical debt then men. Unfortunately, these expenses lead to high medical bills and many out of pocket costs, placing a unique burden on the female population. Statistics The Commonwealth Fund looked further into women's medical debt and found that 18.7 million women in the U.S. did not have insurance in 2010 and another 16.7 million were underinsured. These numbers have been increasing since 2000. Further, 26 percent of U.S. women having difficulty paying their medical bills and medical debt is connected...

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Improve Your Credit After Bankruptcy

If you are not familiar with the bankruptcy process, you might believe that filing for bankruptcy will ruin your credit forever and make you ineligible for credit cards and mortgages. However, this is simply not the case. Although bankruptcy will affect your credit negatively, its effect is only temporary. With a little effort on your part, you can rebuild your credit and return it to where it was before the bankruptcy (or even make it better). Check your credit scores The first thing to do after your bankruptcy is finalized is to assess the damage to your credit by reviewing your credit...

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California Homeowners Should Avoid Zombie Property Ownership

Many California homeowners do not realize they may still be financially responsible for homes that have been foreclosed or liquidated during bankruptcy. Home foreclosures increased in California during the first quarter of 2014, with almost 20,000 default notices filed, according to KCRA News. Many homeowners who are anticipating foreclosure in Santa Rosa may believe that, if they do receive notice, all they can do is vacate the property and let the bank complete the foreclosure. Unfortunately, homeowners who do this risk being left responsible for a zombie property and all of its associated expenses. Unexpected Burdens Zombie properties are properties in foreclosure that...

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