Sometimes, it is very easy or tempting to ignore paying bills, such as taxes, student loans or even a court judgment entered against you. If you continue to ignore your debts for a significant period of time, creditors or debt collectors will take the next step and hit you where it hurts most-your wallet, and move to garnish your wages and/or bank account(s). However, garnishment of your wages or bank account will not occur until the court intervenes and issues a judgment requiring your employer to withhold wages or portions of your bank account(s) to pay back outstanding debts.
When you stay in possession of an apartment or leased property after the expiration or termination of the lease, and you refuse to leave, your conduct, in the eyes of the law, is defined as an unlawful detainer. These actions are common when the landlord of the property is attempting to evict tenants that do not pay rent or expose the property or other tenants to danger. Landlords are required to use this process because under California law, they are not permitted to engage in any self-help remedies to remove a tenant who refuses to leave.
Deciding when to file for bankruptcy is a stressful decision for anyone to make. But, even after deciding what type of bankruptcy to file, you have to determine if you qualify for the type you so desire. Most people opt for chapter 7 bankruptcy because it discharges unsecured debt, unlike chapter 13, which restructures your debt but requires the debtor to still make repayments
Regardless who you are, financial hardships can be very stressful and make your life much harder than it needs to be. These hardships include debts from credit cards, student loans, utility bills or mortgages. Not only do these hardships cause you stress, they place immense pressure on your personal life, personal relationships and sometimes, loss of jobs. Although debt collectors are permitted to attempt to contact you in order to recover the debt owed, it is illegal for them to harass you.
Sometimes, when you do business with multiple companies, chances are that a few of them will file for bankruptcy because not all businesses are successful. When you find out that a company you have been doing business with has filed for bankruptcy, the first question you may ask yourself is whether you want to keep doing business with them or terminate the relationship.