Redwood City Bankruptcy Attorney Grandmother of California Octulpets Filed for Bankruptcy Last Year
Redwood City Bankruptcy Attorney Grandmother of California Octulpets Filed for Bankruptcy Last Year
Following all the publicity regarding the birth of the octuplets in Southern California last month, it has been revealed that the mother of the children is single, divorced, and resides with her parents and her six other children. It also became known that in March 2008, the grandmother filed for bankruptcy claiming nearly $1 million in liabilities. It has been further revealed a history of financial woes, including tax liens and a foreclosure. These financial woes likely prompted the bankruptcy filing.
There are two main kinds of bankruptcy for individuals: Chapter 7 bankruptcy and Chapter 13 bankruptcy. (There are other kinds but those are reserved for special circumstances). It is unclear whether the grandmother filed for a Chapter 7 or Chapter 13. However, both types allow a debtor to stop a foreclosure, even if the ultimate solution is for the property to be surrendered in the bankruptcy.
Additionally, certain types of tax debts can be discharged in a bankruptcy. Even in a Chapter 13 payment plan, creditors (including the IRS) can take less than the total owed. Bankruptcy may be a good option for a family in financial distress, even if it does not result in a complete discharge but a payment plan.
If you have a question regarding Bankruptcy please contact Sagaria Law at 1-800-941-6730 for a free consultation or visit us at www.sagarialaw.com. Our team of Bankruptcy Lawyers can assist you with all aspects of your case. If you are have questions about filing a chapter 7 bankruptcy, a chapter 13 bankruptcy, lien stripping, discharging debt, etc. we can help! We have bankruptcy attorneys in San Mateo, Fremont, Sacramento, Roseville, San Francisco, Salinas and San Jose.
