How the Law Offices of Adele Schneidereit Can Help You Through Chapter 7 and Chapter 13 Bankruptcy After Wildfire Damage to Your Home
The recent California wildfires have left many individuals and families facing devastating property damage and financial uncertainty. If you’re overwhelmed by debt, seeking bankruptcy protection under Chapter 7 or Chapter 13 can provide a pathway to financial recovery. The Law Offices of Adele Schneidereit is here to guide you through this process, offering compassionate legal […]
Should I Obtain a Medical Power of Attorney for My Child Over the Age of 18?
Upon reaching the age of 18, your child is legally recognized as an adult. This significant milestone, while a source of pride and celebration, also brings substantial changes in the management of their medical and legal affairs. A critical and often neglected aspect of this transition is the requirement for a medical power of attorney […]
Navigating the Economic Storm
“US Recession Probability Reaches 96 Percent Heading into Q4” The Conference Board1 Is A Recession Coming? While a recession has not been officially declared, the US GDP shows spending has slowed and prices have increased. Many national experts now say a recession could happen sometime in 2023. What Is a Recession? A recession is defined as […]
What Is Chapter 7 Bankruptcy?
A Chapter 7 Bankruptcy, often called a “liquidation” bankruptcy is for people who will never be able to pay back their debts and need an entirely fresh start from burdensome debts. A Chapter 7 discharge eliminates most unsecured debts entirely and is often the best option for people without the disposable income to make a […]
Does Your Sole Proprietorship Need to Bankrupt Because Of COVID?
A sole proprietorship is a business owned by one person or a married couple that has not been formally set up as a corporation or Limited Liability Company (LLC). If you created a business but did not file the necessary papers to form a corporation or LLC, the business is a sole proprietorship by default. […]
Options for A Car with An Outstanding Loan In A Chapter 7 Bankruptcy
Many people considering Chapter 7 bankruptcy express concerns about what will happen to their car if it has an outstanding loan. Some people want to keep their car. In a Chapter 7 bankruptcy, there are three options in how to deal with a car with a loan on it: (1) redeem the car for its […]
Access to Credit After A Chapter 7 Bankruptcy
A clean financial slate means after your bankruptcy discharge, you can rebuild your credit and increase your credit score.The few who have been able to maintain their monthly payments and keep their credit score high will see an initial drop in their credit score, but this is usually only temporary.In time, a Chapter 7 bankruptcy […]
Debt Consolidation Pros & Cons
Consumer debt in this country has soared to $13.86 trillion, according to the New York Federal Reserve, an all-time high. If you’re having a hard time servicing your debt, you’re not the only one. Many people would like to know if debt consolidation is a better idea than bankruptcy. I know some people who have […]
Student Loans Can Be Zeroed Out Through Bankruptcy
Student loan over-indebtedness has adverse consequences equally as devastating as the financial challenges caused by the COVID 19 pandemic. “High levels of post-secondary education debt correlates with lower earnings, lower rates of homeownership, fewer automobile purchases, higher household financial distress, and delayed marriage and family formation among other ripple effects.” (Recent statement by the American […]
Problems with Transfer on Death Deed in California
I get a lot of calls from people asking me if a California Transfer on Death Deed (TODD) is a good substitute for a Revocable Trust. Unfortunately, the answer is no because there are too many problems with a TODD. The biggest problem that I run into when looking into if a TODD is acceptable […]