Bankruptcy Blog | The Graves Law Firm | Child Support Lawyer in Glendale, CA

Posted By The Graves Law Firm 19-Nov-2020

3 Best Mortgage Refinance Companies of 2020

“Knowing your options when it comes to Mortgage Refinance it’s definitely recommended, as this decision can impact your family and finances. Money.com published an article that provides information on the best mortgage refinance companies ...

Posted By Demetria Graves 1-May-2012

What Comes First: Bankruptcy Or Divorce

Try to save some headaches with our tips Sometimes, when it's beneficial to both parties, one or both parties of a divorcing couple will file for bankruptcy. These are obviously life-changing and very stressful situations on their own, let alone ...

Posted By Demetria Graves 21-Jan-2012

Dealing With Difficult Creditors

Being harassed by creditors and having collection agencies constantly on your back is often what drives people to consider filing for bankruptcy. Once you file for bankruptcy, you get an automatic stay which means your creditors are meant to leave ...

Posted By Demetria Graves 14-Jan-2012

Can Bankruptcy Help If My Property Has Been Repossessed?

Many people put of filing for bankruptcy because they don't want to admit they're in trouble financially. Often it takes an event like having property repossessed to make people realize that they could really use some help. One of the biggest ...

Posted By Demetria Graves 5-Jan-2012

Means Test & Chapter 7 Bankruptcy

Chapter 7 Bankruptcy refers to the section in the bankruptcy code that relates to liquidation bankruptcy where your non-exempt assets are liquidated to pay off your debts. Any unpaid debts after that process are forgiven so that you can start afresh ...

Posted By Demetria Graves 30-Dec-2011

Bankruptcy: Automatic Stay Exemptions

When you file for bankruptcy, an automatic stay goes into immediate effect. This means that creditors are no longer able to contact you in an attempt to seek payment from you using any means. This brings immediate relief from harassment and any ...

Posted By Demetria Graves 23-Dec-2011

How Do I Know If I Should File Bankruptcy?

One question I'm often asked is, "How do I know if I should file bankruptcy?" The purpose of this article is to give you some information that could help you decide and be able to answer that question. There's nothing worse than ...

Posted By Demetria Graves 15-Dec-2011

Failure to Discharge in Bankruptcy

Chapter 7 bankruptcy is often the best alternative for people who are overwhelmed with debt because it allows them to discharge non-exempt debts. This means the debtor is released from personal liability for discharged debts and creditors who were ...

Posted By Demetria Graves 8-Dec-2011

Becoming Debt Free with Bankruptcy.

How many people can say they're debt free? It seems like there's not many these days as we continue to struggle with more difficult economic times. Can you even imagine being debt free? When most people inquire about filing for bankruptcy ...

Posted By Demetria Graves 2-Dec-2011

Is Bankruptcy Right For You?

One of the most common questions I get asked is if filing bankruptcy is the right thing to do? This of course, depends on many factors, so I thought I'd provide a brief outline on some of the important points to consider. By looking at these ...

Posted By Demetria Graves 23-Nov-2011

Beating The Bankruptcy Means Test

People who have considered filing for bankruptcy have probably heard of the bankruptcy Means Test. Back in 2005 Congress amended the laws related to bankruptcy and put in place new laws that they thought would force more people into a chapter 13 ...

Posted By Demetria Graves 16-Nov-2011

Should I file Bankruptcy Jointly if Married?

A common question I get asked from married couples regarding bankruptcy, is if they have to file jointly or if it's possible for one spouse to file bankruptcy alone? Also, which way of filing is best? Married couples may file bankruptcy together ...

Posted By demetriagraves 4-Aug-2011

Bankruptcy - When You Can't Raise Your Debt Ceiling

It is an interesting comparison to watch what has been going on Washington with raising the debt ceiling and comparing that to one's own debt issues. The government has bills to pay, no money, and so it can get its credit line increased to be ...

Posted By demetriagraves 29-Jul-2011

Bankruptcy to Discharge Credit Card Debt

When Congress' recent revisions to federal laws governing credit card usage went into effect, some consumers saw interest rates double or even triple. The law now allows for credit providers to be more flexible with interest rate raises, provided ...

Posted By demetriagraves 21-Jul-2011

Understanding Bankruptcy Legal Fees

Many people are reluctant to see an attorney, especially if their funds are tight. It's a common belief to think that, if I'm broke how in the world can I afford an attorney? Often when doing a bankruptcy consultation the client is probably ...

Posted By demetriagraves 14-Jul-2011

Why Have Bankruptcy Filings Gone Down?

Looking at the first six months of 2011, it appears that fewer people have filed bankruptcy petitions so far in 2011 than they did in 2010. Last year there were over 1.5 million bankruptcies filed in the United States. In the first quarter of 2011 ...

Posted By demetriagraves 7-Jul-2011

Biggest Bankruptcy Mistakes

You've made the decision to file for bankruptcy and of course, you want to do it right. Most clients I work with want to avoid Bankruptcy mistakes and make the filing process as smooth as possible. Recently I've had to help clients whose petitions ...

Posted By demetriagraves 2-Jul-2011

Do I Have Enough Debt to File Bankruptcy?

One of the most common questions I get asked when consulting clients about bankruptcy is, would you file bankruptcy with this amount of debt? People are worried that the amount of debt they have is not enough to warrant a bankruptcy filing. There is ...

Posted By demetriagraves 16-Jun-2011

Batch Bankruptcy Discharge

Pittsburgh Steelers veteran quarterback Charlie Batch gets to hold onto his Super Bowl rings and many other assets as well as his home in a favorable bankruptcy ruling that discharged many of his debts.The measure forgives him from most debts ...

Posted By demetriagraves 9-Jun-2011

Falling Home Prices & Bankruptcy

Recently new numbers on home values around the country were released that confirmed a "double dip" in housing prices, falling below the 2009 low. This is frustrating news for many people that have been holding on to their home, making their house ...

Posted By demetriagraves 2-Jun-2011

Transferring Assets Prior to Bankruptcy

A common question I get asked regarding bankruptcy, is whether you can simply "give" away your assets to a family member or take your name off of the title to a vehicle or home prior to filing bankruptcy. This question usually arises when someone is ...

Posted By demetriagraves 26-May-2011

Bankruptcy Pros & Cons

If you're in financial trouble and considering bankruptcy as an option it's important to know the different pros and cons associated with filing bankruptcy and these are outlined in this article. When I conduct bankruptcy consultations the person I ...

Posted By demetriagraves 11-May-2011

Bankruptcy To Eliminate Your 2nd Mortgage

Did you know that some homeowners who have been hurt by the housing crash are taking advantage of a little-known loophole in the bankruptcy law to get rid of their second mortgage and also avoid the pain of foreclosure. Statistics are hard to come ...

Posted By demetriagraves 5-May-2011

Bankruptcy During Retirement

Retirement is supposed to mean financial stability for seniors. But increasingly, Americans over the age of 65 are getting into trouble with debt and turning to the bankruptcy courts for relief. In 2007, seniors represented 7 percent of all ...

Posted By demetriagraves 28-Apr-2011

Bankruptcy Secrets They Don't Want You to Know

There are many secrets, misconceptions and myths surrounding bankruptcy that 'they' don't want you to know - Who are 'they'? They are the creditors, the credit card companies, the banks, the pay day loan companies. They are all the businesses that ...

Posted By demetriagraves 22-Apr-2011

Bankruptcy To Relieve Debt

For millions of Americans, recent economic hard times have meant a growing amount of debt which is rapidly becoming harder to control. Across the country, people are struggling to get a firm footing again. If you are beginning to feel overwhelmed by ...

Posted By demetriagraves 14-Apr-2011

How To Survive Bankruptcy

It's surprisingly common these days. Debts pile up and then something unexpected happens; an illness, a layoff, a divorce. Next thing you know you're in financial strife and considering bankruptcy as an option. In earlier days, a debtor had a life of ...

Posted By demetriagraves 7-Apr-2011

Bankruptcy Vs Settling Your Debt

In this tough economy, there are many people struggling with the decision of whether to cash out retirement funds to pay off debt or consider the option of bankruptcy. While bankruptcy still has some stigma attached, that stereotype is vanishing as ...

Posted By demetriagraves 31-Mar-2011

Medical Bills a Leading Cause of Bankruptcy

As an attorney I help many people through bankruptcy and there are often many reasons why someone may need to file for chapter 7 bankruptcy protection. Interestingly enough, the results of research conducted over the past decade has shown that ...

Posted By demetriagraves 26-Mar-2011

Bankruptcy and Underwater Homes

Most homeowners consider that their home is their primary asset but unfortunately for many people this is no longer the case and their home is a liability rather than an asset. One of the common reasons people seek advice from me regarding bankruptcy ...

Posted By demetriagraves 10-Mar-2011

More People May Qualify For Chapter 7 Bankruptcy

If you're wondering if you may qualify for Chapter 7 Bankruptcy, then I have some potential good news. The United States Trustee program has released new Census Bureau information on median family income. This information is broken down by state and ...

Posted By demetriagraves 4-Mar-2011

Total Bankruptcy Filings Increased 8%

According to latest data released from the Administrative Office of U.S. Courts, total bankruptcy filings in the U.S. increased 8 percent in 2010 over calendar year 2009. Bankruptcy filings totaled 1,593,081 for the 12-month period ending Dec. 31, ...

Posted By demetriagraves 26-Feb-2011

Former 'Bachelor' Aaron Buerge Files for Bankruptcy

Former Bachelor Aaron Buerge joined the ranks of celebrities that have filed for bankruptcy when he filed for Chapter 7 bankruptcy last week. Aaron who is a banker and restaurant owner has hinted that his problems were aggravated by the collapse of a ...

Posted By demetriagraves 24-Feb-2011

Former 'Bachelor' Aaron Buerge Files for Bankruptcy

Former Bachelor Aaron Buerge joined the ranks of celebrities that have filed for bankruptcy when he filed for Chapter 7 bankruptcy last week. Aaron who is a banker and restaurant owner has hinted that his problems were aggravated by the collapse of a ...

Posted By demetriagraves 17-Feb-2011

Chapter 7 Bankruptcy - What you should ask your attorney

Many clients don't realize that the typical individual chapter 7 bankruptcy process involves filing a petition with a bankruptcy court in the local area in which that person resides. This is the official beginning of filing for chapter 7 bankruptcy ...

Posted By demetriagraves 12-Feb-2011

Is Bankruptcy a Good Option?

We've been in a recession and many people are having a tough time making ends meet. Unemployment and mounting consumer debt are putting many Americans on the brink of insolvency. Cash strapped households are desperately looking for solutions. To get ...

Posted By demetriagraves 3-Feb-2011

Chapter 7 Means Test

One of the most common questions I get asked regarding Chapter 7 bankruptcy is regarding the means test and what it takes to qualify for bankruptcy. Basically, if your current income is lower than the IRS average income for a comparable family size ...

Posted By demetriagraves 27-Jan-2011

Michael Jackson's Dr Files for Bankruptcy

Dr. Arnie Klein, a famous Beverly Hills, California-based doctor who treated celebrity clients such as Cher, Dolly Parton and Michael Jackson, filed for bankruptcy this week. It seems that all the controversy surrounding Michael Jackson's death has ...

Posted By demetriagraves 20-Jan-2011

Chapter 7 Bankruptcy Basics

One of the most common questions I get asked regarding bankruptcy is - How difficult is it to file? So here's some bankruptcy basics that will help give you a clearer picture of what is involved in filing for bankruptcy. Chapter 7 bankruptcy, ...

Posted By demetriagraves 13-Jan-2011

Longoria Files For Bankruptcy

After filing for divorce recently from San Antonio Spurs point guard Tony Parker, "Desperate Housewives" star Eva Longoria will be filing again, this time for bankruptcy. Times are tough, and Eva's Las Vegas restaurant Beso is feeling it firsthand, ...

Posted By demetriagraves 6-Jan-2011

Xzibit Files For Bankruptcy Again

Xzibit a well known rapper and former host of MTV's Pimp My Ride has filed for bankruptcy last month, for the third time since July 2009. According to public records, Alvin Joiner (AKA Xzibit) owes close to $1 million in delinquent federal taxes. It ...

Posted By demetriagraves 30-Dec-2010

Bankruptcy Increasing In Senior Population

For a second year in a row, many seniors will have to endure revisions to their fixed budgets as the cost of living increase adjustment to their monthly social security checks will not happen. The federal government has determined that the social ...

Posted By demetriagraves 22-Dec-2010

Considering Bankruptcy?

If you're considering filing for bankruptcy, you're not alone. More than 1.4 million Americans filed for bankruptcy just last year. For many of these people, bankruptcy allowed them to escape from financial ruin and get bank on the road to financial ...

Posted By demetriagraves 18-Dec-2010

The Truth About Chapter 7 Bankruptcy

The more Bankruptices I oversee, I find that there are a lot of misconceptions about the bankruptcy process. This article outlines the truth about bankruptcy by highlighting some common true or false scenarios. Most people who find themselves ...

Posted By demetriagraves 10-Dec-2010

Secured Debt & Chapter 7 Bankruptcy

Most people have secured debt associated with either their home or car. These are often the biggest purchases an individual makes and are usually purchased with a secured loan. This is where the lender takes a security interest in the asset purchased ...

Posted By demetriagraves 26-Nov-2010

Braxton's Bankruptcy Questioned

A federal bankruptcy watchdog is questioning Toni Braxton's recent bankruptcy filing but the Grammy-winning singer's attorney expects the matter to be resolved favorably soon. In her Chapter 7 bankruptcy petition, filed in Los Angeles on Sept. 30, ...

Posted By demetriagraves 12-Nov-2010

401K Loan & Bankruptcy

If you have a 401k loan and are considering bankruptcy here is a brief outline of what generally happens to your 401k loan. Basically a 401k loan allows you to borrow money from your 401k funds and repay it over a certain amount of time. In order to ...

Posted By demetriagraves 27-Oct-2010

BK to Avoid Foreclosure

Many clients I work with are facing foreclosure and they don't know what their options are. Working with an attorney who handles bankruptcy cases can make the difference between keeping your home and losing it to foreclosure. If the foreclosure ...

Posted By demetriagraves 21-Oct-2010

Chapter 7 - Still the Most Common Bankrupty

This October marks the fifth anniversary of the implementation of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, which was passed to make it more difficult for Americans to seek the debt relief that Chapter 7 bankruptcy provides. ...

Posted By demetriagraves 14-Oct-2010

Bankruptcy Extreme Makeover

In these tough economic conditions, the word "Bankruptcy" has experienced an "extreme makeover." For millions of people over the past couple of years, bankruptcy has become a saving grace, enabling people to make a fresh financial start in life. ...

Posted By demetriagraves 1-Oct-2010

Chapter 7 Bankruptcy Exemptions

There are many clients that I work with who are considering filing for chapter 7 bankruptcy but are worried about losing all their assets and being left with nothing. This is a common misconception but because there are exemptions in bankruptcy law ...

Posted By demetriagraves 17-Sep-2010

Baby Boomers are Going Bankrupt at a Faster Rate

Americans over the age of 55 are filing for bankruptcy at a faster rate than the general population as growing mortgage debt and higher health care costs make them more vulnerable, a new study shows. It also appears that the number of bankruptcies ...

Posted By demetriagraves 9-Sep-2010

Bankruptcy War

Some people have described Bankruptcy as an epic war between debtors and creditors. These two groups are constantly battling for control of the debt in question. The debtors are seeking to either reject or modify the debt while the creditors are ...

Posted By demetriagraves 12-Aug-2010

What is Chapter 7 Bankruptcy

I've found that as an attorney when I'm helping clients with bankruptcy many people are uncertain of what it is and how it all works. So, let's have a look at bankruptcy and specifically Chapter 7 bankruptcy. When an individual or company files for ...

Posted By demetriagraves 9-Jul-2010

Olsen twins Dad Declares Bankruptcy

The 24 year-old Olsen Twins may be richer than some small countries with their merchandising deals and fashion line but it seems that they're not spreading the wealth to their dad. There are recent reports that the twins father, David Olsen, has ...

Posted By demetriagraves 1-Jul-2010

Short Sale Vs Bankruptcy

I've had many of my clients come to me wanting information on short sales and bankruptcy. In particular, I've been asked by clients who are considering filing for bankruptcy if they should proceed with a short sale on their real estate. This is a ...

Posted By demetriagraves 25-Jun-2010

Tips For Avoiding Bankruptcy

In our current economy many people are facing bankruptcy. So I thought it would be timely to explore some simple tips on how bankruptcy can be avoided. According to a 2008 survey by the American Payroll Association, 71 percent of American workers are ...

Posted By demetriagraves 4-Jun-2010

When is Bankruptcy the Best Option?

It seems like only yesterday when the real estate market was booming and many people were investing, whether it was their own home or an investment property. Then the bottom of the sub-prime lending market dropped out, leaving many people facing ...

Posted By demetriagraves 24-May-2010

Tips for Finding the Right Bankruptcy Attorney

Unfortunately bankruptcy filings in the U.S. continue to rise, therefore the demand for good, qualified bankruptcy attorneys has been stronger than ever. But as a number of unscrupulous individuals rush to capitalize on this trend, being able to find ...

Posted By demetriagraves 14-May-2010

Understanding Bankruptcy Law

Bankruptcy is a legally declared state of financial insolvency, or the inability of a debtor to pay his bills. The primary purpose of bankruptcy is to help an individual or company get out from under debt and get a fresh start. Bankruptcy litigation ...

Posted By demetriagraves 29-Mar-2010

Not All Bankruptcies Are Created Equal

California bankruptcy law is based on federal law; however there are differences that make California's state laws unique. If you are facing the possibility of bankruptcy, it is in your best interest to contact an attorney that is experienced with ...

Posted By demetriagraves 24-Mar-2010

Choosing Bankruptcy or Foreclosure? STOP!

If things are getting tight and you think it is a choice between losing the house or declaring bankruptcy, I have news for you. You have other choices and you should avoid bankruptcy if possible! It is widely acknowledged now that less than 5% of ...

Posted By demetriagraves 18-Mar-2010

Declaring Bankruptcy - what's really involved?

Some clients I have spoken to, have the idea that you just declare bankruptcy and that solves all your financial problems. Suddenly the slate is wiped clean, with a simple declaration and there's nothing else to worry about. Unfortunately the process ...

Posted By demetriagraves 4-Mar-2010

Bankruptcy = Financial Repair

I've worked with many clients helping them through tough economic times and although bankruptcy can be a difficult and painful process, the good news is that people who take this route DO recover and often are stronger as a result. The key question ...

Posted By demetriagraves 4-Mar-2010

Bankruptcy Stats and Tips

In my law office, I've been helping an increasing number of clients with bankruptcy. It seems that the economic recovery effort has not slowed consumer bankruptcy filings. According to national data, they surged 14% in February compared with last ...

Posted By demetriagraves 4-Mar-2010

Bankruptcy, You've Been Around!

Recently, I've been helping an increasing number of clients with bankruptcy. Even though this can be a painful experience, having the right attorney to guide you through the process is vital. In light of this, I thought it would be interesting to ...

Posted By demetriagraves 8-Feb-2010

Which Comes First - Bankruptcy or Divorce?

Like the long-standing chicken and egg story of which came fist? Bankruptcy and divorce have been viewed in a similar way. It's a well known fact that financial difficulties often lead to marital problems and ultimately divorce. Then conversely, ...

Posted By demetriagraves 16-Jan-2010

Bankruptcy Filings on the Rise

Many of us have had the feeling that bankruptcies seemed to be on the increase, well here's some hard facts to back up that idea. U.S. consumers and businesses are filing for bankruptcy at a pace that made 2009 the seventh-worst year on record, with ...

Recent Posts in Bankruptcy