Can Personal Loans Be Included in Bankruptcy in California?
Yes, personal loans can be included in bankruptcy in California, and they are usually dischargeable. This includes personal loans from banks, credit unions, friends, family, or employers. Unsecured personal loans, which are loans not backed by collateral, are eligible for discharge in both Chapter 7 and Chapter 13 bankruptcies. Filing bankruptcy in California involves understanding the types […]
What Happens If You Cosign a Loan and the Other Person Doesn’t Pay?
Cosigning a loan can be a helpful way to assist a friend or family member in securing financing. But what happens if you cosign a loan and the other person doesn’t pay? Failing to pay a cosigned loan on time harms both parties. The lender reports late payments to credit bureaus, lowering both credit scores. […]
How To Stop Wage Garnishment in California
If wage garnishment makes it difficult to afford your essential living costs, you can request a Claim of Exemption from the court to either lower or eliminate the garnishment. This process demonstrates that the withheld amount jeopardizes your ability to meet essential needs.