Sacramento bankruptcy & injury law blog

Stay informed with the James Keenan Law Blog, where you’ll find helpful insights on personal injury law, legal tips, and updates that matter to you. Learn your rights, understand the legal process, and get expert guidance to help you make confident decisions after an accident.

Debt or Discharge?

Debt or Discharge?

Debt or discharge, that is the question. But what does it mean?  Simply put, its a decision.  It's a decision whether to live with debt or without it.  Discharge is the end result of a bankruptcy.  When you file bankruptcy, here in Sacramento or elsewhere, you  have debt.  Likely a lot of it.  Enough debt to prompt you to file for bankruptcy.  But, again, why?

Bankruptcy is a legal process that can eliminate your debt.  The end result of a bankruptcy filing is a discharge. Here is an explanation of it from the Sacramento bankruptcy court. A discharge is a legal order from the bankruptcy court.  It orders your debts no more.  Hence the title of this blog being debt or discharge.

Before you get the discharge, you must complete the bankruptcy filing process.  It's not too difficult to do with legal guidance.  But it must be done right.  Otherwise, no discharge.  Then your debt or discharge question is answered for you.  Some of the basic components of a bankruptcy filing are listing your creditors and assets.  You have to put down everyone you owe money.  Even if is Aunt Edna or Uncle Charlie.  Everyone must go

Read more

Sacramento Bankruptcy Basics

Sacramento Bankruptcy Basics

Sacramento bankruptcy basics is a primer post for those considering filing for bankruptcy.  Bankruptcy can be a hard decision.  A really hard one.  But bankruptcy can bring relief.  Lots of it.  The most basic equation for those thinking of bankruptcy is debt.  More debt than income.  That is the common denominator for bankruptcy filers.  So, if you have more debt than you can afford, bankruptcy should be considered.  Not because you want to.  Since you have to.

sacramento bankruptcy basics

But bankruptcy is not that bad.  What many fail to consider is the benefits of bankruptcy.  Namely, it eliminates debt.  Many in Sacramento are living with debt they cannot pay.  Something needs to be done.  But what?  The first Sacramento bankruptcy basics evaluation should be whether your debt is growing.  If it is, that's a sure sign you have more debt than you can afford.  And it's also a sign your debt is likely to get even bigger.  Borrowing to pay off borrowed money is a common phenomenon.  It is unsustainable, though.  Something will eventually have to give.

Debt consolidators are commonplace.  Their pitches are good.  But their impact is bad.  Consolidating your debt is a ding worse on

Read more

Can I Discharge my Student Load through Bankruptcy?

Can you discharge student loan debt? Maybe. Ordinarily student loans cannot be discharged through bankruptcy. Meaning that student loan debt cannot be eliminated through a bankruptcy filing and discharge. Other types of debt can be discharged, or eliminated, in bankruptcy. But not student loans. Usually, that is.

Student loans are on the rise. The cost of college has risen way beyond the ability for almost anyone to afford it without the aid of debt. That debt is normally backed by the government. If you don't pay the lender, the government will. This, then, is why student loan debt is not normally discharged. But there are some ways to discharge student loan debt. Not a lot, but some.

To discharge student loan debt in bankruptcy typically takes a showing of extreme hardship. Loss of a job is usually not enough. More is needed. Or at least more has been needed. With the increased debts former students face, the loans themselves are becoming hardships themselves. Times are changing. Often times student loans are the reason why may need to file for bankruptcy.

To not discharge student loan debt would defeat the purpose of many bankruptcy filers. That is why there a movement

Read more

Dance Mom's Bankruptcy

Abbey Lee, the reality TV star of "Dance Moms," filed for bankruptcy several years ago. And the Dance Moms bankruptcy did not go well. Why? She didn't disclose all her assets when she filed for bankruptcy. That's bad!

Filing bankruptcy provides protection from creditors. It allows you to eliminate debt you cannot afford. And that's good. But you must follow the rules to receive the bankruptcy benefits. One of the most important rules is to disclose your assets when you file for bankruptcy. Dance Moms bankruptcy did not do this. She tried to hide nearly a million dollars in assets from the bankruptcy court, and then lied about it. Again, this is bad.

Dance Moms bankruptcy is a cautionary tale. Her plight is now in the hands of the bankruptcy court. And she is going to jail. See for yourself. She's not the first. Nor will she be the last to suffer such fate.

Fair-Catch?

As a former football player, I've often likened bankruptcy to the fair-catch. It's simple. Wave your hand in the air when you catch a kick and you can't be tackled. In exchange, you can't run. Filing bankruptcy is waving your hand in the air. Your

Read more

Page 4 of 17