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Santa Barbara’s La Casa de la Raza Files for Bankruptcy

La Casa de la Raza Files for Bankruptcy Longtime community center La Casa de la Raza filed a Voluntary Petition under Chapter 11 of the Bankruptcy Code on February 17, 2016, case number 9:16-bk-10283-PC. It was filed in order to stop the foreclosure of its building at 601 East Monteci
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Puerto Rico’s Failure to Pay: Potential Crisis in US?

Will bankruptcy help Puerto Rico
Puerto Rico’s Failure to Pay: Potential Crisis in US? According to the Washington Post, Puerto Rico’s governor, Ajejandro Garcia Padilla, recently announced that that the island is unable to pay back more than $70 billion in debt. A default could precipitate an unprecedent
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Settlement Is Concluded With Citigroup

Citigroup Settlement
Settlement Is Concluded With Citigroup, Inc Settlement is concluded with Citigroup, Inc. that should better protect consumer personal information in Bankruptcy Cases The federal agency overseeing the bankruptcy system, the U.S. Trustee Program(USTP), recently confirmed that a nationwi
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Marriage and Bankruptcy

Marriage and Bankruptcy If I Am Married, Do I Have to File Jointly with My Spouse? Not necessarily. If your spouse’s debts are sufficiently minor that a discharge isn’t personally beneficial, you can file an individual chapter 7 or 13 case identifying yourself as a single debtor. Your
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Is a Short Sale Likely to Harm My Credit Score as Much as a Foreclosure?

Foreclosure vs short sale
Short Sale VS Foreclosure Is a Short Sale Likely to Harm My Credit Score as Much as a Foreclosure? Although consumers often believe a short sale will cause less damage to their credit score than a foreclosure, many commentators (e.g., List Weston of the Los Angeles Times, Money Talk;
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Bankruptcy – Can I Keep The Car?

Can I Keep The Car? Can I keep the car that I’m paying for if I file a chapter 7 bankruptcy case? Yes, if your bankruptcy schedules properly exempt any net equity value in your car and you keep making timely payments during and throughout the course of the case. In individual bankrupt
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Who Will Find Out that I Filed for Bankruptcy?

Who Will Find Out That I Filed for Bankruptcy? This is a common question, wondered about by many who choose the remedies afforded by the bankruptcy system. The primary recipients of information on your bankruptcy case will be your creditors because, as a debtor, you are required under
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Credit Card Lenders Are Doing Fine

Credit Card Lenders Are Doing Fine, Thank You Credit card spending by US consumers may be on the rise as Visa and MasterCard posted sharp profit increases for the first quarter of 2012, according to a Moneyrates.com report dated May 11, 2012. Visa reported increased profit of 30% over
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What Can I Discharge In Bankruptcy

Government Taxes
What Can I Discharge In Bankruptcy? Can I discharge taxes and other debts to the government in bankruptcy? The answer to this question is the favorite of many attorneys: “It depends.” Under the Bankruptcy Code, most recent, unsecured tax claims on income or gross receipts are non-disc
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Bankruptcy Option For Local Community College?

Cuesta Community College May Face Further Financial Pressure Cuesta Community College Board of Trustees, in a meeting on April 4, met to deal with ongoing shortfalls in state revenues by slashing another $3 million from the institution’s already skimpy budget. The College, which unfor
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