Blog

Worst Case Scenario: What Happens if You Cannot Make Your Chapter 13 Payments?

by Paul Y. Lee | Nov 10, 2020 | Bankruptcy

After you have filed Chapter 13 bankruptcy, you will need to make monthly payments. As more and more people find themselves in dire financial conditions thanks to COVID-19, you might be one of the people wondering what happens if they cannot make these payments. This...

What Does the Upcoming Change to the California Homestead Exemption Mean for Homeowners?

by Paul Y. Lee | Oct 22, 2020 | Bankruptcy

Homeowners in California have long found the homestead exemption to be much too low for most residents. The purpose of these exemptions is supposed to be protecting family homes from creditors, but the amount of value that it protects is the key to how successful it...

Tips for Repairing Your Credit After a California Bankruptcy

by Paul Y. Lee | Oct 8, 2020 | Bankruptcy

If you are overwhelmed with debt, filing for bankruptcy might be one of the smartest steps you can take toward improving your credit. Once you have gone through that process, there are additional steps you can take to get your credit back to good. Follow these steps...

Do You Have Enough Debt to File for Bankruptcy in California? Learn What You Should Consider

by Paul Y. Lee | Sep 21, 2020 | Bankruptcy

It is rare to find a person who actually wants to file for bankruptcy. Instead, people find themselves in difficult financial situations and are willing to do what it takes to move forward in a positive direction. In some cases, that involves filing for bankruptcy....

Do Business Owners Automatically Lose Their Business Assets if They File for Personal Bankruptcy?

by Paul Y. Lee | Sep 9, 2020 | Bankruptcy

In certain circumstances, if a business owner in California files for bankruptcy, they could end up losing business assets. It all depends on which type of bankruptcy they file, the structure of their business, and the value of their business assets. When you work...

Learn Why You Should Not Trust Most Get Out of Debt Advice

by Paul Y. Lee | Aug 25, 2020 | Bankruptcy

When a person is facing a seemingly insurmountable amount of debt, it is understandable that they are willing to take any advice if it seems as though it could help them. The bad news is that advice that is supposed to help can actually make the situation worse. Keep...

Four Reasons to Never Use Your 401(k) to Pay Down Your Personal Debts

by Paul Y. Lee | Aug 12, 2020 | Bankruptcy

If you are facing debt and you have money in a 401(k), it might seem to make perfect sense to use money from your retirement account to pay down your debts. Unfortunately, this is almost never a good idea. Keep reading to learn four reasons we do not recommend this....

The Best Time to File for Bankruptcy is Likely Earlier Than You Think

by Paul Y. Lee | Jul 21, 2020 | Bankruptcy

It is hard for most California debtors to know when they should file for bankruptcy. We often see people wait until they are truly penniless before filing. In fact, some people actually believe that they cannot file for bankruptcy until they have spent all their...

Three Simple Steps to Get Out of Debt without Filing for Bankruptcy

by Paul Y. Lee | Jul 9, 2020 | Bankruptcy

Few people actually want to file for bankruptcy. What they want is to get out from under debt and breathe easily again. The good news is that it is actually rather simple to get out of debt without filing for bankruptcy. The bad news is that just because it is simple,...

Seven Benefits of Hiring a California Bankruptcy Attorney to Help You Through the Process

by Paul Y. Lee | Jun 20, 2020 | Bankruptcy

If you are considering filing for bankruptcy, one of the first decisions you might make is whether to do it yourself or hire a bankruptcy attorney. The truth is simple: you will enjoy many benefits if you work with an attorney. Keep reading to learn about seven of...

Welcome to The Law Offices of Paul Y. Lee