Orange County Bankruptcy Law Blog
Posted on May 18, 2012 By 1st California Law
On April 30, Nadya Suleman, better known as "Octomom" filed for Chapter 7 bankruptcy here in the Central District of California, Santa Ana division. At the time, the mother of 14 children ...
Continue reading "Octomom Bankruptcy Gets Dismissed" »
Posted on May 14, 2012 By 1st California Law
People often ask if their high amount of debt will disqualify them from filing for bankruptcy. The total amount of debt you have is important depending on which type of bankruptcy you intend to file. ...
Continue reading "Is There a Debt Limit to Filing for Bankruptcy? Is There a Minimum?" »
Posted on May 11, 2012 By 1st California Law
Many individuals take out 401k loans in order to keep up with their bills and expenses. These 401k loans are then required to be paid back in order to avoid 401k withdrawal penalties. Often times 401k ...
Continue reading "How Are 401k Loans Handled in Bankruptcy?" »
Posted on May 10, 2012 By 1st California Law
Many people who are considering filing for bankruptcy are looking for the most cost-effective way to do so. Afterall, a person needing a bankruptcy usually doesn't have a large sum of money that ...
Continue reading "Do I Really Need an Attorney to File for Bankruptcy?" »
Posted on May 8, 2012 By 1st California Law
In a recent report by the Hope Now Alliance, fewer loan modifcation were approved in the first quarter of 2012 as compared to 2011. The numbers were as follows: First quarter of 2012 approximately ...
Continue reading "Fewer Loan Modifications Are Getting Approved in 2012" »
Posted on May 4, 2012 By 1st California Law
A common misconception about bankruptcy is that it is a financial death sentence. Most people think that by filing for bankruptcy, they will never be able to buy a house, finance a car and will ...
Continue reading "Famous People Who Have Filed for Bankruptcy" »
Posted on May 2, 2012 By 1st California Law
Based on a recent report released by the US Bureau of Labor Statistics, the OC-LA metropolitan area had the 4th largest growth in jobs for the past year. Since March 2011, there were 63,100 new jobs ...
Continue reading "OC-LA Has Nation's 4th Largest Job Growth" »
Posted on May 1, 2012 By 1st California Law
Nadya Suleman, better known by her nickname "Octomom" has filed for Chapter 7 bankruptcy, here in the Central District of California, Santa Ana division. According to her bankruptcy filing, ...
Continue reading "Octomom files for Chapter 7 Bankruptcy" »
Posted on Apr 27, 2012 By 1st California Law
Designer Betsey Johnson's fashion company, Betsey Johnson LLC filed for chapter 11 bankruptcy on April 26 in New York. Betsey Johnson is know for her quirky personality and bright and colorful ...
Continue reading "Fashion Designer Betsey Johnson Files for Bankruptcy" »
Posted on Apr 24, 2012 By 1st California Law
Looking at statistics from various souces, an article from Money Magazine found interesting trends for people looking for jobs. 1. Younger people face more unemployment 8.7% of people ages 25-34 are ...
Continue reading "Trends in Unemployment" »
Posted on Apr 23, 2012 By 1st California Law
The Newport Beach based company Traffic Control and Safety Corporation has recently filed for Chapter 11 Bankruptcy. The company was formed in 2007 and provides barricades, signs and lighting for ...
Continue reading "Orange County Based Traffic Control and Safety Corp Files for Bankruptcy" »
Posted on Apr 18, 2012 By 1st California Law
In a recent bankruptcy case from the Middle District of Florida, bankruptcy judge Arthur Briskman fined Bank of America $12,500 for violating the bankruptcy automatic stay. The court found that Bank ...
Continue reading "Bank of America Fined $12,500 for Violating Automatic Stay" »
Posted on Apr 17, 2012 By 1st California Law
Last Friday, US Bankruptcy Judge Kevin Gross approved the already announced sale of the Dodgers. This approval will allow the Dodgers to exit their current Chapter 11 bankruptcy by April 30. The ...
Continue reading "Los Angeles Dodgers Set to Exit Chapter 11 Bankruptcy This Month" »
Posted on Apr 12, 2012 By 1st California Law
Federal law prohibits employers from firing employees simply because they have filed for bankruptcy . Because of this, employers cannot fire someone if the only reason is that they filed for ...
Continue reading "Can I Lose My Job if I File for Bankruptcy?" »
Posted on Apr 11, 2012 By 1st California Law
Presidential hopeful Newt Gingrich once ran a healthcare think tank, The Gingrich Group LLC. The well-known group offered advising on various healthcare issues. The Gingrich Group was started by Newt ...
Continue reading "Gingrich Health-Care Group Files for Bankruptcy" »
Posted on Apr 10, 2012 By 1st California Law
In the past few weeks, both Los Angeles Mayor Antonio Villaraigosa and Chief Administrative Officer Miguel Santana have said that the city of LA is on the verge of bankruptcy unless the city moves ...
Continue reading "Is Los Angeles About to go Bankrupt?" »
Posted on Apr 9, 2012 By 1st California Law
Former NFL superstar and future Hall of Famer Warren Sapp filed for Chapter 7 Bankruptcy. In his bankruptcy filing, Sapp is estimated to owe his creditors $6.7 million. Sapp's assets are estimated ...
Continue reading "Warren Sapp Files for Bankruptcy...How Did He Qualify for Bankruptcy?" »
Posted on Mar 31, 2012 By 1st California Law
Are we being counterproductive on the war on on drugs in California? Should Marijuana be legal? Here are some bold facts. In 2011 California spent 9.6 billion on their prison system vs 5.7 billion on ...
Continue reading "Are we being counterproductice on the war on drugs(marijuana) in California ?" »
Posted on Mar 29, 2012 By 1st California Law
Based on recent numbers from the US Bureau of Labor Statistics, the average person in Orange County makes $1,036.00 a week. The average weekly pay for all of California was $1,051.00. The average pay ...
Continue reading "$1,036-Average Weekly Pay in Orange County" »
Posted on Mar 27, 2012 By 1st California Law
Last year, Dodgers owner Frank McCourt filed for Chapter 11 bankruptcy with hopes to remain the owner of the team. However, McCourt ultimately agreed to sell the Dodgers through a court-supervised ...
Continue reading "Dodgers Bankruptcy: Team to be Auctioned Wednesday" »
Posted on Mar 26, 2012 By 1st California Law
Yes! Absolutely yes! When buying a home and trying to get approved for a mortgage, lenders look at your income, credit score, debt-to-income ratio and other things. What many people do not realize is ...
Continue reading "Can I Buy A Home After Filing For Bankruptcy?" »
Posted on Mar 22, 2012 By 1st California Law
For the past month of February there were 1,404 bankruptcy filings in Orange County. This number rose from 1,348 filings in January, despite February being a shorter month. Compared to 2011, February ...
Continue reading "Orange County Bankruptcy Filings Rise in February 2012" »
Posted on Mar 20, 2012 By 1st California Law
A recent report from Moneyrates.com has listed California as the 7th hardest state in the country to make a living in. The report took into consideration the average income, cost of living, state ...
Continue reading "California- 7th Hardest State to Make a Living" »
Posted on Mar 19, 2012 By 1st California Law
The Houston based TaxMasters filed for Chapter 11 Bankruptcy this past Sunday. TaxMasters is well-known for its TV and radio advertisments which feature its CEO Patrick Cox. These advertisements made ...
Continue reading "TaxMasters Files for Bankruptcy" »
Posted on Mar 19, 2012 By 1st California Law
Wells Fargo, a bank headquartered in San Francisco, is now the largest bank in the US, based on its stock market value. Wells Fargo's is valued at around $178 billion and is estimated to have over ...
Continue reading "Wells Fargo-Nation's Biggest Bank by Market Value" »