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Growing Household Debt and Delinquencies: What You Need to Know

by Paul Y. Lee | May 23, 2024 | Bankruptcy

If you feel like your debt balances are continuously increasing or you’re struggling to keep up with payments, you’re not alone. In the third quarter of 2023, total U.S. credit card debt exceeded $1 trillion for the first time and continued to rise in the...

Protecting Your Personal Assets from Business Debt: What You Need to Know

by Paul Y. Lee | May 14, 2024 | Bankruptcy

If you own a business facing financial difficulties, you might be concerned about how this could impact your personal assets. The answer is that your personal assets could indeed be at risk. However, there are steps you can take to protect yourself. Read on to learn...

Resetting Your Financial Outlook: The Impact of Bankruptcy on Credit Reports

by Paul Y. Lee | Apr 22, 2024 | Bankruptcy

Filing for bankruptcy is a decision that many hesitate to make, largely due to misconceptions about its long-term impact on credit scores. Understanding the actual duration that a bankruptcy stays on your credit report can help in making an informed choice. If...

Exploring Adversary Proceedings in Bankruptcy: A Detailed Overview

by Paul Y. Lee | Apr 10, 2024 | Bankruptcy

Filing for bankruptcy is typically a straightforward process for most, but certain complexities such as adversary proceedings can arise, necessitating a deeper understanding of their nature and implications. This blog will delve into what adversary proceedings entail...

Exploring Bankruptcy as a Relief Path for the Unemployed in California

by Paul Y. Lee | Mar 26, 2024 | Bankruptcy

The daunting journey through unemployment is challenging, with financial burdens often leading to a sense of despair for many. In California, where the unemployment rate slightly exceeds the national average, the question of whether bankruptcy can serve as a lifeline...

Medical Debt and Bankruptcy: A Path to Financial Recovery

by Paul Y. Lee | Mar 14, 2024 | Bankruptcy

Confronting a towering pile of medical debt can plunge anyone into despair, especially when it feels like there’s no escape. However, understanding the statute of limitations on debt collection could illuminate a path forward that many aren’t aware of....

A Fresh Start: How to Rebuild Your Credit After Filing for Bankruptcy in California

by Paul Y. Lee | Feb 23, 2024 | Bankruptcy

Filing for bankruptcy often brings a sigh of relief to those drowning in debt, offering a much-needed fresh start. However, it also presents a new challenge: rebuilding your credit. In California, as elsewhere, the impact of bankruptcy on your credit score can be...

Navigating the Path to Financial Freedom: Understanding Bankruptcy Options in California

by Paul Y. Lee | Feb 14, 2024 | Bankruptcy

In the face of overwhelming debt, filing for bankruptcy can offer a beacon of hope, providing a fresh start and a path to financial freedom. However, the decision to file for bankruptcy is not one to be taken lightly. It’s essential to understand the different...

Considering Bankruptcy? Avoid These Five Critical Mistakes

by Paul Y. Lee | Jan 24, 2024 | Bankruptcy

Bankruptcy provides a fresh start for millions each year, but the journey towards financial relief is fraught with potential missteps. At The Law Offices of Paul Y. Lee, guiding you through the complexities of bankruptcy is a priority, ensuring a smoother path to...

California Pension Payments and Bankruptcy: What You Need to Know

by Paul Y. Lee | Jan 11, 2024 | Bankruptcy

For many, pensions and retirement savings are the financial backbone of retirement plans. The prospect of bankruptcy raises critical concerns about the safety of these hard-earned benefits. Understanding the protections afforded to your pension and retirement accounts...

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