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Cali Chp7 Q3

Chapter 7 San Diego Bankruptcy Claims 3rd Quarter 2011

Official data for Chapter 7 bankruptcy claims in the San Diego area have arrived and there are more positives to glean from the results. For the second consecutive period Chapter 7 claims were down quarter over quarter. Total third quarter 2011 filings amounted to 16,726, a decline of 551 from quarter two.

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Relief For Short Sale Transactions

With the economy recovering slowly, and the fear of a double dip recession looming, good news is finally reaching San Diego homeowners with underwater properties either considering or going through short sale transactions. (Short sale transactions are a process which allows a homeowner to sell their property for an amount less than the full amount owed on their mortgage loans.)

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5 mistakes to avoid prior to filing for bankruptcy

If you’re faced with the possibility of filing for bankruptcy, there are a few simple yet important things you should avoid doing. 1. Use retirement proceeds to pay down credit card and other unsecured debts; 2. Transfer assets to family members; 3. Move out of the home you no longer wish to keep without finding out the legal and financial …

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San Diego: Chapter 13 Bankruptcies Decline For First Time in Four Years

Following the observed decrease in Chapter 7 bankruptcy claims, Chapter 13 claims in Quarter 2, 2011, for San Diego were down as well. This is the first decline quarter over quarter since 2006. Chapter 13 bankruptcy offers a debtor the chance to restructure their debts and catch up on areages and back taxes over a 3-5 year repayment period. In …

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San Diego Chapter 7 Bankruptcy Claims Down For First Time in 4 Years

We just reviewed the numbers for Chapter 7 bankruptcy claims in Quarter 2, 2011, for San Diego and the results are positive. Bankruptcy claims are in fact declining, albeit slowly and only marginally down from recent all-time highs. Take a look at this graph depicting total Chapters 7 claims since 2007.

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When Your Legal Will May Not Be Enough

A will is one of the most widely used legal documents and is probably what you think of first when you consider how to plan your estate and transfer your assets to your loved ones. In a Will, you name who you want to receive your assets when you die (the beneficiary) and who you want to handle your final …

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Exploring the importance of Buy-Sell/Partnership Agreements

Two business partners who have been friends since grade school found themselves in my office disagreeing on some very important and fundamental aspects of their business. Like many other small business owners, they did not have a Buy-Sell/Partnership Agreement when they first entered into the business. They didn’t want to incur the expense and thought that their friendship would carry …

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Chapter 13 Bankruptcy Filings for San Diego (2011 Q1)

CC Legal Group is happy to provide the latest data on bankruptcy filings for the San Diego area. The first numbers for Chapter 13 filings for the city of San Diego was released and the numbers are up again. If you recall in our 2010 year end synopsis there was some indication Chapter 13 filings were slowing to the point …

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San Diego Chapter 7 Q1 2011 Bankruptcy Stats Unchanged

Quarterly Chapter 7 bankruptcy data for San Diego is released to the public two quarters, or around four months, after the period they represent. We reported at the beginning of this year that 2010 numbers ended the year with a glimmer of hope that San Diego bankruptcy claims may be in decline. So far for 2011 the data suggests a …

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Home Affordable Unemployment Program (HAUP) Rolls out in San Diego

Homeowners in San Diego have been challenged every since the credit crisis in 2008. For some homeowners who have lost their jobs, the last several years have been exceptionally brutal. Even the Home Affordability Modification Program (HAMP) offers very little if any relief to homeowners with no income stream. Some reprieve has arrived after the federal government rolled out a …

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