OC Chapter 7 Bankruptcy Filings for September 2009

October 5, 2009 · Posted by Alex

Orange County Chapter 7 bankruptcy filings for September continue to rise in 2009.

The cities with the most Chapter 7 bankruptcy filings in Orange County in September are as follows:

Anaheim, Costa Mesa, Fullerton, Garden Grove, Huntington Beach, Irvine, Lake Forest, Mission Viejo, Orange, and Santa Ana.

Bankruptcy attorneys in Orange County affirm the report’s finding that the increase in Chapter 7 bankruptcy clients has not slowed so far in 2009.

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Chapter 7 Bankruptcy Filings in Orange County, August 2009

September 9, 2009 · Posted by admin

Chapter 7 bankruptcy filings for the month of August 2009 have been most numerous in the following Orange County cities:

Anaheim, Fullerton, Garden Grove, Huntington Beach, Irvine, Laguna Niguel, Lake Forest, Mission Viejo, Orange, and Santa Ana.

Chapter 7 bankruptcy attorneys in Orange County have also seen a high number of bankruptcies filed in Costa Mesa, Rancho Santa Margarita, and Westminster.

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Orange County Chapter 7 Bankruptcy Filings for July 2009

August 5, 2009 · Posted by Alex

Chapter 7 bankruptcy filings are on the rise in Orange County, but some cities are seeing higher numbers of filings than others.

The top ten cities in Orange County with the most Chapter 7 Bankruptcy filings for the month of July are as follows:

Aliso Viejo, Anaheim, Buena Park, Fullerton, Garden Grove, Huntington Beach, Irvine, Mission Viejo, Orange, and Santa Ana.

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Consumer Bankruptcy Filings Rising in Southern California

June 29, 2009 · Posted by Alex

From Curtis Law Group’s blog:

“As reported in the Los Angeles Times yesterday, southern California has seen a dramatic increase in the number of consumer bankruptcy filings of late. The article referenced the mortgage crisis as the culprit, while also highlighting the fact that changes to the Bankruptcy Code in the Bankruptcy Bill of 2005 have seemingly failed to reduce the number of bankruptcies these last few years.

Although the article emphasizes the increase in the greater Los Angeles area, bankruptcies in Orange County, Riverside County, and San Bernardino County have also risen dramatically in the past year, flooding bankruptcy attorneys in southern California with inquiries from debtors about whether they qualify for Chapter 7 bankruptcy, or whether they must resort to Chapter 13 of the Bankruptcy Code for relief.”

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Some Relief For Those Repaying Student Loans

June 29, 2009 · Posted by Alex

From Yahoo news:

“Repaying a student loan could soon be a little less painful.

Starting this week, anyone with a federal student loan can apply for a program, run by the Department of Education, that caps monthly payments based on income, and forgives remaining balances after 25 years. Those choosing to work in public service could have their loans forgiven after just 10 years.

Eligibility for income-based repayment (IBR) is determined by a person’s income and loan size. A calculator at http://www.ibrinfo.org can help borrowers determine their eligibility for the plan, which becomes available Wednesday.

‘It’s a way to borrow for college without going to the poor house,’ said Lauren Asher, president of the Institute for College Access & Success, a California-based nonprofit that runs the Project on Student Debt.

The program stems from the Education Department’s College Cost Reduction and Access Act, signed in 2007, which authorized the creation of a new income-based repayment plan for both Federal Family Education Loan (FFEL) and Direct Loan borrowers on all Stafford and graduate PLUS loans.

Monthly payments would amount to less than 10 percent of income for most of the estimated 1 million people expected to enroll, experts say. Payments would never exceed 15 percent of any income above about $16,000 a year (or 150 percent of the poverty level).

Those who earn less than $16,000 would not have to make any monthly payments.”

Debtors in Orange County often seek out a bankruptcy attorney to discharge student loans, only to find that many do not qualify to have their student loans discharged in a Chapter 7 bankruptcy.

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