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When it comes to filing for bankruptcy, some Los Angeles residents may think it is a very easy process — as if someone can just up and file without much hassle. Other residents may think it is more complicated than it actually is, and thus incorrectly decide that bankruptcy is not the route for them.

Many people who are in long-term relationships are putting off marriage because at least one of the parties has significant debt. This is especially true in today’s economy, where school loans and few job offers have led to overwhelming debt for a large number of young people.

Loan modification is the process of negotiating with your lender to reach agreement on modifying the terms of repayment of your existing home mortgage to enable you to continue making your payments despite some hardship that you and your family may be experiencing.

Individuals considering Chapter 7 bankruptcy in California often think they will have to give away all of their property. This bankruptcy myth can keep some people from filing bankruptcy for months, even years. Meanwhile, they continue to build debt and fall further into financial turmoil.

The debates between President Barack Obama and Governor Mitt Romney have touched on the auto bailout and whether there was a bankruptcy alternative. According to Romney, the government should have “Let Detroit Go Bankruptcy” (that was the title of his opinion article in The New York Times in 2008). He asked the government to put the automakers through a managed bankruptcy, rather than bailing them out.

It is a moment that every in-debt person fears: your cellphone rings and the number is unrecognizable. What’s the most likely reason for the call? Sure, it could be a distant family member — or maybe the job offer you have always wanted is just on the other end of the line. But the reason you are receiving this call is almost certainly because a debt collector is trying to garner the funds you owe.

Last week, we discussed some of the key Chapter 11 bankruptcy terms. We continue our discussion this week, defining some of the main actions you may see in a Chapter 11 bankruptcy.

Determining how a Chapter 11 bankruptcy works before your company files for Chapter 11 can be confusing, in part because the bankruptcy code is complicated. This blog post and next week’s post will discuss some of the key terms you might see while researching Chapter 11 bankruptcy.

American Suzuki Motor Corp recently received bankruptcy court approval to borrow money from its parent corporation, Suzuki Motor Corp.

Dynegy, an electric power producer that operates gas-fired and coal power plants in California and four other states, recently emerged from a three-month bankruptcy and is being publicly traded again. The case is an example of how even a contentious Chapter 11 bankruptcy can help a company emerge from debt successfully.