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Bankruptcy News

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

California Senate Bill SB-308 Increases Bankruptcy Exemptions

bankruptcy laws

Bankruptcy Exemptions For Your Home On May 22, 2015 the California Senate passed a great new bill that would help Californians who file for bankruptcy protect more property, specifically equity in their homes and vehicles.  Currently, a person filing bankruptcy can protect anywhere from $100,000 up to $175,000 equity in their residence, depending on their age, marital status, and the number of people in the household.  SB 308 is a bill that was strongly supported by consumer groups and advocates that substantially increased the amount of home equity that can be protected to an across-the-board $300,000 for all debtors.  That means...

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Can You Get Rid Of Student Loans In Bankruptcy?

Student loan debt

Can you get rid of student loan debt in bankruptcy?  This is a common question asked of bankruptcy attorneys for the simple reason that Americans owe an estimated two trillion dollars in loans incurred for schooling.  If you are one of those people who went to college and ended up owing $10,000, $20,000, $30,000 or even more to Sallie Mae or another student loan lender, you know how difficult it can be to survive financially.  Paying back student loans can be nearly impossible especially when career jobs are difficult to find, the degree you earned may not be in demand,...

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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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