Kostopoulos Bankruptcy Law

Author: Kostopoulos Bankruptcy Law

Are There Any Exemptions for Specific Assets in California Bankruptcy Cases?

Posted on by Kostopoulos Bankruptcy Law

There is a lot of misinformation regarding bankruptcy and one of the most prevalent myths is that you will lose everything you own through the process. In truth, US bankruptcy laws are intended to support debtors in getting their lives back by discharging qualifying debt. As such, there are strategies to avoid having assets sold in Chapter 7 bankruptcy. A powerful advantage for your case is exemptions, which protect real estate and designated personal property. While you are making important decisions about your financial future, you should know the exemptions for specific assets in California bankruptcy cases.

Continue reading “Are There Any Exemptions for Specific Assets in California Bankruptcy Cases?”

How To Stop Wage Garnishment in California

Posted on by Kostopoulos Bankruptcy Law

Facing wage garnishment in California can feel overwhelming and isolating, but it doesn’t have to be an insurmountable challenge. At Kostopoulos Bankruptcy Law, located in Riverside and Oakland, CA, we specialize in helping individuals regain control over their financial situations. This guide provides a comprehensive overview of how to stop wage garnishment in California, ensuring you have the knowledge and resources necessary to protect your income and meet your essential needs.

Continue reading “How To Stop Wage Garnishment in California”

What Are the Costs Associated with Bankruptcy Filing in California?

Posted on by Kostopoulos Bankruptcy Law

When you are struggling with debt and cannot keep up with monthly bills, you are certainly concerned about your expenditures down to the smallest detail. Therefore, if you are looking into bankruptcy as a solution for crushing debt, you will also be wondering about the potential costs. On the one hand, there are certain filing fees involved with your case that are part of the Chapter 7 or Chapter 13 process. On the other, you could incur costs that are indirect or considered an investment in your future. Before moving forward, you should be aware of all costs associated with bankruptcy filing in California.

Continue reading “What Are the Costs Associated with Bankruptcy Filing in California?”

What Documents Do I Need Before Filing for Bankruptcy in California?

Posted on by Kostopoulos Bankruptcy Law

If you have started looking into bankruptcy as a way to take control over debt, you probably already know that there are some preparations you need to take before starting the case. One of the most important is determining which type of bankruptcy will best suit your needs and goals. For many individuals and married couples, Chapter 7 and Chapter 13 are options. A second essential part of your preparation for bankruptcy is getting your paperwork together, so you should know what documents you need before filing for bankruptcy in California.

Continue reading “What Documents Do I Need Before Filing for Bankruptcy in California?”

What Are the Alternatives to Bankruptcy in California?

Posted on by Kostopoulos Bankruptcy Law

When you are struggling under the weight of crushing debt, it is smart to consider every possible option to get control over your finances. You have already tried to stay current by making minimum payments, but you were unable to make a dent in the balance after paying interest and fees. There may come a point that you need to look at legal remedies, and bankruptcy is a solution. However, many debtors in your position will also want to know about the alternatives to bankruptcy in California.

Continue reading “What Are the Alternatives to Bankruptcy in California?”

Can I Keep My Retirement Savings If I File for Bankruptcy in California?

Posted on by Kostopoulos Bankruptcy Law

Bankruptcy is a process for resolving and discharging debt, but there are many misconceptions about the process that could affect your decision to file. Many debtors continue to believe the myth that they will lose everything by filing Chapter 7 or Chapter 13, leading to specific concerns about retirement. You have worked hard to ensure you have solid financial footing when you leave the workforce. Before moving forward, it is important to know whether you can keep your retirement savings if you file for bankruptcy in California.

Continue reading “Can I Keep My Retirement Savings If I File for Bankruptcy in California?”

How Does Bankruptcy Affect My Credit Score in California?

Posted on by Kostopoulos Bankruptcy Law

If there is one aspect of bankruptcy that many debtors focus on when considering their options, it is the hit to their credit report that seems the most daunting. Many people believe that filing Chapter 7 or Chapter 13 bankruptcy will be devastating to their credit, ruining any chances for a financial future. In truth, the process carries many benefits that could outweigh the negative. Therefore, though bankruptcy does affect your credit score in California, you need to assess additional factors to determine the most suitable solution for you.

Continue reading “How Does Bankruptcy Affect My Credit Score in California?”

What Are Chapter 7 Income Limits in California?

Posted on by Kostopoulos Bankruptcy Law

Filing for Chapter 7 bankruptcy in California offers a ray of hope for those drowning in debt. We specialize in demystifying the bankruptcy process, providing the clarity and support you need to make informed decisions about your financial future. This article delves into the critical aspects of Chapter 7 income limits, the means test, and other essential topics to determine your eligibility for debt relief. Understanding Chapter 7 income limits in California is essential for anyone considering this path for debt relief. These limits are pivotal in determining your eligibility for Chapter 7 bankruptcy.

Continue reading “What Are Chapter 7 Income Limits in California?”

Will Filing for Bankruptcy Affect My Tax Return in Michigan?

Posted on by Kostopoulos Bankruptcy Law

The saying goes that there is nothing certain but death and taxes, and you know from experience how different types of taxes impact your life. Therefore, if you are considering bankruptcy, you can expect that a key topic will be taxed. In the same way that you might owe amounts for a credit card, you incur a debt on your record when you do not pay taxes. Another aspect of taxes to review when looking at your options under Chapter 7 or Chapter 13 is your yearly return. For many, your annual tax return is often followed by a refund that provides critical financial support when you are overwhelmed with debt.

Continue reading “Will Filing for Bankruptcy Affect My Tax Return in Michigan?”

What Is the Process for Filing Bankruptcy in Michigan?

Posted on by Kostopoulos Bankruptcy Law

If you are struggling with debt and unable to keep up with bills, each passing day brings anxiety and frustration with your financial situation. Every time you receive a bill, you see how your balance does not go lower after payments are absorbed by late fees and interest. You are hearing from creditors, who may be threatening lawsuits and engaging in other harassment. Bankruptcy might be a solution for discharging debt and resolving your financial difficulties, but many people shy away because they do not understand how the laws work. Therefore, it is critical to know the process for filing bankruptcy in Michigan if you are considering options for debt.

Continue reading “What Is the Process for Filing Bankruptcy in Michigan?”