A Chapter 13 bankruptcy case involved the trustee reviewing the debtors income and expenses. This review includes an analysis of the debtors house hold size. Where the IRS may allow a person to claim an adult child as a dependant often times trustees are not so generous. The concept that I've heard the trustees office explain to many different debtors is that there's no legal obligation to take care of a child once they reach the age of 18. There's no economical requirement and there's also no legal obligation. It can sound like a harsh concept in this country where many parents are still helping out their adult children with school expenses while living within the debtors home rent free. But, the trustees are charged with making sure that the debtors are making their best efforts in their proposed re payment plans. Essentially, I've heard an appointed trustee say,

"creditors should not be paying for an adult child to go to school"

The concept there is if the debtor is allocating $500 dollars for a 19 year old to go to school, that $500 dollars is not going then to go to pay down creditors. Depending on the overall review of the trustees office for the income and expenses there may not be a large adjustment required if you have an child adult living at home. However the trustee can request that a contribution from an adult child come into the household to pay for such things as utilities that are going to be increased because they're living there such as their food and clothing expenses.

The Brighter Side of Chapter 13 Bankruptcy

Remember the big picture with Chapter 13 cases, while you may not be able to pay for your 21 year old school expenses -- while it appears to hurt that your 21 year old has to help you pay for some utilities, food expenses and their share of rent the relief of a chapter 13 case can be monumental. Typically, there are no lawsuits being filed during a Chapter 13 case, there's no creditor phone calls, and potentially your only paying back a small portion of a debt stretched over 5 years and you're only paying back what you have disposable at the end of the month.

We understand that times are tough. According to the U.S. Bureau of Labor Statistics unemployment is at an all time high of 10.2% While I've heard on the news of how the economy is recovering, personally I don't see it. Our Law Firm handles bankruptcy and we've noticed a rise month after month of clients filing chapter 7 bankruptcy. We understand that bad things happen to good people. If you come into our Law Firm we don't judge you we consult you on whether bankruptcy is your best option.

You must be thinking to yourself how much is this going to cost me? You can sit with a Bankruptcy attorney who will go through your paperwork for free! Our attorney will let you know within 30 minutes whether or not you qualify for bankruptcy. From there we go through the process of bankruptcy so that you know exactly what to expect. While bankruptcy doesn't solve all of life's financial issues it does provide a fresh start. If you are considering a debt free life, consider bankruptcy. It might be one of the best descisions you've ever made.

Call our toll free number today to see if you qualify for Bankruptcy 888-407-9068

The Law Offices of Marc Grossman is happy to announce that we are now taking La Puente Bankruptcy appointments. If you would like to schedule a FREE Initial Consultation contact us at 888-407-9068.

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La Puente, CA 91746
Phone: 888-407-9068
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Upland is located in the county of San Bernardino and boasts a population of 68,393 people. The city of Upland started as a rural and agricultural city. It has has now grown into a upper middle class community consisting mostly of residences and a small retail community. Upland has a predominately caucasian community. The city was had the nickname north Ontario and is the home of La/Ontario airport.

In this depressed economy there are many sad or horror stories regarding bankruptcy. Most people or businesses have suffered the on coming effects of this recession and eventually given in. However there is a story that may prove that there is light at the end of the tunnel. The city of Upland stayed on the verge of Upland bankruptcy for six years finally seeing some financial stability and renewal.

In 1992 however the story was different, the state had diverted property taxes to schools then the real estate market took a dive. This eventually lead to a $1.9 million loss which left the city in terrible shaped. Over the years however Upland has bounced back and redevelopment and $34 million in new city project has brought Upland back to its good times. So it is good to hear of something good in difficult times.

Montclair is a city in San Bernardino county and has a population of 33,049 people. Montclair borders Pomona, Claremont, and Ontario. Montclair gets alot of business being in the middle of such busy cities. Linen and Things was rather successful with their branch in Montclair until the closing for that branch in 2008.

Linen and thing is a retailer of housewares and textiles. The company had 571 stores with about 7,300 employees. Its headquarters was located in Clifton New Jersey and spanned though the U.S and Canada. The company now is mostly online based due to the closure of their stores.

The company began struggling in October 2008 because of annual losses and a downed economy. It closed 120 store in that year. Linen and thing is $700 million in debt because of financing from GE to keep their company aflot. The company stated that the primary reason that the store is not seeing any profit is due to the depressed housing market. Linen and Things being a retailer that specifically caters to homes has not been able to adujust their business model. Because their business model is so specific that there is no alternative . Linen and Thing filed for bankruptcy in Montclair 2008 which is a restructure of a business. Linen and things is still an online retailer. 

Corona is located Riverside county and has a population of 124,966 residents. It is predominately residential community in the desert. It is known for its desert road racing events and was at the height of the California citrus business boom. It is relatively far from any major cities which makes commerce a difficult thing for any small companies located in Corona. Especially in this depressed economy that distance from any major city can cause businesses to fail.

Fleetwood enterprises is a RV and home manufacturer that has been in business for sixty years and is located in Corona. In recent times Fleetwood was forced to file Chapter 11 bankruptcy in Corona. The former fortune 500 company had to file for bankruptcy prompting the reason being that they haven't seen profit since April 2000. The other reason that attribute to the close is a depressed economy and high gas prices.

In this depressed economy most people are just concerned with getting by and the demand for high ticket luxury items like an RV or a new home is just not there. Gas prices contributed to Fleetwood cutting their RV division. With the ex orbited cost of gas there is no demand for RV that consume large amounts of gas. With Fleetwood stock prices at a penny it was a wise if not belated decision for this RV/Housing company to call it quits.

Claremont is a city located in Los Angeles county with a population of 37,242 people. Claremont is a upper middle class community that was rated the fifth best place to live by CNN. It is also the home to seven institutions of higher learning giving the city the nick name of college town. Needless to say it is a financially prosperous community, but even in such a community there are companies that feel the pinch of a bad economy.

Why Tri City Mental Health Center Filed for Chapter 9 Bankruptcy

One such company is the Tri City mental Health Center. The Tri City Mental Health Center provides mental health services in Claremont. In February 2004 Tri City Health Care had to file for chapter 9 bankruptcy which is the company reorganization made available to municipalities. The company had to file Claremont bankruptcy for many reasons but the two major ones were expansion and owing large amounts to its creditors.

Expansion was one of the causes because Tri City Health Center expanded to quickly and was unable to keep u with its expansion. It subsequently had to sell most of its facilities and downsize its employees and services. The other cause is the $ 20 million dollars in debt with $12 million of it to a creditor called DMH. DMH claims that the debt owed comes from Tri City Health Care over claiming Medi-Cal services. Tri City Health Center is still operational with many of its services being cut. So even in such a prosperous community and a city contracted company there are such thing as a guarantee in a depressed economy.

Riverside is a city located in southern California with a population of 293,201 people. Riverside is best know for the start of California's citrus industry. It is also home to the University of Riverside a prestigous business/medical school. However there is problem in the city of Riverside since the housing crash in recent years Riverside has seen the blunt end of many short sell, defaulted home loans, and bankruptcies. The specific problem being the increased rate in which homes are foreclosed on. 

Since 2009 the rate of foreclosures have tripled and more and more residents have had their homes seized creating a depressed economy in Riverside county. It is said that 15-20% of riverside residents have either chosen to abandon their homes and more than half don't even seek any advice legal or otherwise. Many residents feel helpless and depressed and some have even come up with a name for the process of mailing their keys to the bank. Its called jingle mail obviously because of the gound they keys make in the envelope.

In this state there are few options like bankruptcy or short sale. Some residents qualify for bankruptcy in Riverside however some do not because of the changes in bankruptcy that implement heavier restriction for those who are trying to file. The other option is to short sale the house which is selling the home at less than its cost which reduces the debt incurred. These option might not be the most prefered option to people but it is better than just abandoning your home or giving up your home.

Chino is located in San Bernardino county and has a population of 82,830 people. Chino is known for its Dairy and its agriculture. Its considered the major hub for dairy and agriculture products in that area of California. It is also home to two state prisons,the California institute for men and women. It also houses Prado the Olympic shooting facility which makes this article ironic. In a city that houses an Olympic shooting facility there are many opponents to gun companies.

Fontana is a community located in San Bernardino county. It has a population of 170,099 people. Fontana is a major annex for industry being that is a crossing point for the 10, 15, and 210 freeway. Even in such a dense population of people the number of bankruptcies are high even for such a population.

A recent story in the news regarding bankruptcy comes from Riverside. A Fontana school district teacher Bianca Haro recently need help refinancing her 5 year home loan or risk losing her home. Her home that was originally valued at $118,000. The loan officer at her current mortgage company was unwilling to negotiate the terms of the loan. The debt that she now owed was $150,000 which put the home of her and her two children in jeopardy.

With help of a Fontana bankruptcy attorney she filed bankruptcy and was able to save her home. She was able to save her home because even though the home was already sold her bankruptcy filing was done before it was sold prompting a reversal saving her home for Bianca and her two children. Bianca was prompted to most likely to file for chapter 13. Chapter 13 is commonly used to pay back debts without losing assets like in Bianca's case her home. A structure plan is implemented because the debtor has a source of income. In Bianca's case this turned out to be a life saver and helped keep her home for her and her children.