Author Archives: Jay Butchko
Understanding the Timeline of Foreclosure in California, and When to Take Action
Facing the risk of foreclosure can be one of the most stressful experiences a homeowner endures. If you are struggling with declining income, overwhelming medical debt, or unexpected financial burdens, the thought of losing your home can feel devastating. California’s foreclosure process is notably swift and primarily nonjudicial, meaning it unfolds without court oversight…. Read More »
What Happens to Credit Card Debt in Bankruptcy? Insights for Struggling Consumers
Credit card debt is one of the most common financial burdens facing individuals and families in Los Angeles. For many, balances grow over time due to high interest rates, late fees, or reliance on credit to cover everyday expenses. When minimum payments become impossible and debt collectors start calling, bankruptcy may provide a way… Read More »
Can a Debt Collector Call You at Work? Understanding Your Rights in California
Dealing with debt is stressful enough on its own, but when collectors start calling you at work, it can feel overwhelming and even humiliating. Constant phone interruptions not only distract you from your job but can also put your employment at risk. Fortunately, both federal and California laws set clear limits on when and… Read More »
Is Your Debt Collector Breaking the Law? How to Recognize Illegal Collection Tactics
When debt becomes overwhelming, many people already feel trapped and anxious. Unfortunately, some debt collectors take advantage of this vulnerability by using harassment and intimidation to pressure people into paying. While creditors and collection agencies have the right to seek repayment, federal and California laws strictly limit the tactics they can use. Recognizing the… Read More »
Chapter 7 or Chapter 13: Choosing the Best Bankruptcy Option When Divorce Is on the Horizon
When a marriage is coming to an end, the emotional toll is often compounded by financial stress. Divorce itself can create economic strain, and for many couples in Los Angeles, overwhelming debt makes the process even more difficult. In some cases, filing for bankruptcy before, during, or after divorce can be a necessary step… Read More »
Bankruptcy During Divorce: How the Automatic Stay Can Impact Family Court Proceedings
Divorce and bankruptcy each bring emotional, legal, and financial strain. When they overlap, especially here in Los Angeles, it becomes even more crucial to understand how the automatic stay triggered by bankruptcy can affect family court proceedings. Knowing how this stay operates can help protect your rights and preserve your future. What Is the… Read More »
How to Negotiate or Settle a Second Mortgage Debt Without Losing Your Home
When financial circumstances become strained, managing a second mortgage can quickly become overwhelming. Many homeowners fear that the inability to maintain payments on a second mortgage could eventually lead to the loss of their home. Fortunately, there are several strategic options for negotiating or settling second mortgage debt, allowing homeowners to secure their properties… Read More »
Should You Keep Paying a Second Mortgage If Your Home Is Worth Less Than You Owe? Legal and Financial Considerations
For homeowners, the notion of being underwater, which is when you owe more on your home than its current market value, is a distressing reality. This situation becomes particularly complicated when you have a second mortgage. Deciding whether to continue paying a second mortgage on an underwater property involves complex financial and legal considerations…. Read More »
Bankruptcy and Asset Protection in High-Cost California Areas: Why the Homestead Exemption Makes a Huge Difference
In California, particularly in high-cost areas like Los Angeles, homeownership is often not just a significant milestone but a major financial investment. Given the elevated home values and considerable equity residents typically hold, the thought of financial distress and potential bankruptcy can be daunting. Fortunately, California offers critical protections designed to safeguard homeowners’ equity,… Read More »
Are You a Senior, Disabled, or Low-Income Homeowner? How California’s Homestead Exemption Offers Even More Protection
For seniors, disabled individuals, and low-income homeowners, the thought of potentially losing their home—a source of security, stability, and cherished memories—can be overwhelming. Fortunately, California provides robust protections specifically designed to safeguard these vulnerable populations. One of the most significant protections available is the state’s homestead exemption, which offers enhanced safeguards to help you… Read More »