Arcadia, CA Bankruptcy Guide

How to File Bankruptcy in Arcadia, CA

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Bankruptcy COVID-19 Newsfeed

What we're reading at LegalConsumer.com

Bills I Gotta Pay, But There’s A Pandemic Out There

Cathy Moran - Bankruptcy Soap Box - Sat, May 30, 2020

“I want to tackle just a small piece of the problem, the sense that there are bills one HAS to pay.

Maybe usually.
Maybe eventually.
But not necessarily now.

This consumer lawyer‘s take on our situation suggests that you set aside existing money habits and fretting about the future. Stress itself is deadly, and your first goal is to stay healthy.”
An ‘Avalanche of Evictions’ Could Be Bearing Down on America’s Renters

Sarah Mervosh - New York Times - Wed, May 27, 2020

“The United States, already wrestling with an economic collapse not seen in a generation, is facing a wave of evictions as government relief payments and legal protections run out for millions of out-of-work Americans who have little financial cushion and few choices when looking for new housing.”
FastCase Free COVID-19 Resources

- FastCase - Sat, May 23, 2020

“In light of the COVID-19 epidemic the Fastcase team is working with our partners to ensure lawyers and volunteers have access to complimentary resources available to them. If at any time you’re experiencing difficulty logging into your account, please contact the Fastcase team at relief@fastcase.com and access will be provided. Fastcase has created a COVID-19 resource hub, bringing together free legislative and government updates and COVID-19 content across leading news media sources. ”
Mortgage Relief for Homeowners Affected By COVID-19

Andrew Pizor - National Consumer Law Center - Wed, May 20, 2020

“The COVID-19 pandemic has made it harder for millions of homeowners to pay their mortgages. To reduce the risk of widespread foreclosures, Congress recently passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Pub. L. No. 116-136 (Mar. 27, 2020). The CARES Act gives some borrowers temporary protection from foreclosure. But about a third of all borrowers are not covered. This article explains who is covered by the CARES Act, what it offers, how to help those who are covered, and how to help those who are not.”
Major Consumer Protections Announced in Response to COVID-19

NCLC - National Consumer Law Center - Wed, May 20, 2020

“This article, which will be updated as developments warrant, lists actions Congress, governors, federal and state agencies, and businesses are taking to protect consumers in light of the COVID-19 epidemic. These actions include suspensions on foreclosures, evictions, and terminations of telecommunications and utility service, elimination of interest and forbearance on student loan payments, limits on debt collection, and more.”
Free Resources to Aid Veterans, Military, Their Families Amid COVID-19 Outbreak

- AARP - Fri, May 15, 2020

“he Department of Veterans Affairs (VA) and other aid organizations have mobilized resources specifically for veterans to stay safe during the COVID-19 outbreak.

The Veterans Health Administration recently received $17.2 billion from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. With this money, the VA increased access to telehealth and has said it will serve even those veterans not enrolled in the VA system.

Below is a list of resources that veterans, active-duty military and their families can receive if they need assistance during the pandemic. If you know of other programs available for veterans, let us know in the comments section below.”
Congress may be forced to deal with coming wave of bankruptcies

- Roll Call - Tue, May 12, 2020

“Despite record unemployment numbers, consumer bankruptcies declined last month by more than 30 percent compared with last year, according to American Bankruptcy Institute data. That’s because federal courts have largely closed and consumers usually file for bankruptcy after they’ve hit rock bottom, not in the middle of a crisis, said Bob Lawless, a law professor at the University of Illinois.

“People are probably going to use consumer credit to smooth over the problems they have right now,” he said. “It doesn’t make sense to file bankruptcy if you are just going to continue to pile up debts.”

If Congress fails to act soon, bankruptcy courts could be overwhelmed by a record number of newly jobless consumers looking to shed crushing debts, said Raymond Kluender, an economist at the Harvard Business School.

Assessing the Ailing Business Post Pandemic

Cathy Moran - Bankruptcy Mastery - Fri, May 8, 2020

“As bankruptcy lawyers, we’re going to see people in pain trying to assess what to do next.

Business owners may see the exit heading through the bankruptcy courts, but that may be neither necessary nor wise.

Here’s my list of considerations as I try to think broadly and flexibly with clients about their business futures.”
Protecting Against Creditor Seizure of Stimulus Checks

Lauren Saunders and Margot Saunders - National Consumer Law Center - Wed, May 6, 2020

“The CARES Act protects stimulus payments from certain offsets to collect debts owed to federal and state governments. The Act does not address either private creditors’ seizure of the checks from bank accounts to satisfy outstanding court judgments or the banks’ ability to seize the funds to pay other debts owed the bank or for overdrawn accounts. While advocacy efforts are ongoing to change the federal law or the way Treasury treats these payments, as of the time the first set of payments were distributed (in mid-April 2020), these efforts have not been successful.”
Start thinking bankruptcy now, not later

NerdWallet - Newsdsay - Tue, May 5, 2020

“If bankruptcy may be in your future, here’s what you need to know now.

DON’T WAIT TO TALK TO A BANKRUPTCY ATTORNEY
DON’T TOUCH YOUR RETIREMENT MONEY
DON’T LET CASH PILE UP
DON’T SELL STUFF
DON’T PASS UP FORBEARANCE OPTIONS
Enforcing the CARES Act Credit Reporting Protections

Chi Chi Wu - National Consumer Law Center - Mon, May 4, 2020

“The economic harm caused by the COVID-19 pandemic will soon translate into pervasive credit reporting harm, as millions of consumers become unable to pay their credit obligations, and creditors, debt collectors, and others furnish negative information about them to the nationwide consumer reporting agencies (CRAs). This article explains how consumers can protect their credit reports by enforcing the very modest protections offered by the CARES Act. ”
Lenders Warn Missing Mortgage Payments Could Have Consequences

Chris Arnold - NPR - Fri, Apr 24, 2020

“Millions of homeowners may skip making payments as part of a federal plan meant to ease financial stress during the pandemic. But many Americans say they're running into problems with their lenders.
How to check your credit report for free every week during coronavirus

- Business Insider - Tue, Apr 21, 2020

“Before now, Americans could access a report from each of the three bureaus only once a year, three times in total.
The three companies will allow weekly access to free reports through AnnualCreditReport.com for a year starting April 20, 2020.
Checking your credit report is the best way to keep errors off your account. It's especially important for anyone who's postponing bills, using more credit than usual, or applying for loans. ”
Nearly 3 Million Homeowners Get Mortgage Help, But Others Hit Roadblocks

Chris Arnold - NPR - Mon, Apr 20, 2020

“But many homeowners tell NPR that they have been scared away from getting that help. That's because their lenders tell them that if they skip mortgage payments, the borrowers will have to make up the missed payments in one big balloon payment at the end of the forbearance period.

In fact, there are many other options available to the homeowners if they can't afford a big payment like that, including extending the loan term to add the payments to the back end of the loan.”
Here’s what you need to know if you’re considering filing for bankruptcy because of coronavirus

- CNBC - Thu, Apr 16, 2020

“But even if you are facing a shortfall, declaring bankruptcy to wipe out your debts may not be the answer, Tadross says. “A lot of people call me, and they want to jump right into bankruptcy. I tell them, ‘Look, don’t just jump right into that — give it some time,’” he says.

Here’s what financial experts say you should understand about the process, and the steps you should take before filing for bankruptcy. ”

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