The good news for people in California is that the number of foreclosure cases that were filed against struggling homeowners has fallen since 2012 for all but a few states. In fact, only one percent of the homes across the nation had a foreclosure action filed against them last year. This is a significant drop from the number of 2.2 percent that existed in 2010. This may be in part because many people have found ways to deal with their unmanageable debt.
There are many questions for people in California who have decided to enter into the personal bankruptcy process. Among the most important for some are the bankruptcy exemption rules and how they apply to an individual case. In fact, many find that they benefit from these rules when they are able to save their personal and real property.
California readers know that financial difficulties can strike people regardless of their wealth or social status. Celebrities are not immune to the challenges that have led some of us in our state to seek the protections offered by a personal bankruptcy. In fact, several celebrities took such actions last year when they found that they were unable to repay the debts that they owed to their various creditors.
There are many benefits for people in California who find that they need the help offered by the filing of a personal bankruptcy. For those who qualify for a Chapter 7 bankruptcy, those benefits can include the total discharge of many of their unsecured debts. This result is a major relief for those who are unable to repay the debts that they owe.