chapter 13 bankruptcy Archives

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Prof. Hernandez: A Guide to California Bankruptcy Exemptions (2026 Update)

Protect your assets with expert insights from Prof. Hernandez, author of Consumer Bankruptcy Law. Compare California 703 vs. 704 exemption limits for 2026.

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Bankruptcy

Alexander Hernandez 4 min read

The Time Factor in Becoming Debt-Free: A Deep Dive with Prof. Hernandez

How long does bankruptcy take? Prof. Hernandez outlines the standard timelines for Chapter 7 and Chapter 13 to help you plan your path to becoming debt-free.

Bankruptcy

Alexander Hernandez 6 min read

Filing Bankruptcy in Arkansas: Exemptions Explained

Arkansas bankruptcy exemptions protect property; residency requirements and exemption choices vary by circumstance.

Bankruptcy

Alexander Hernandez 6 min read

Understanding Bankruptcy Exemptions in Arizona: Protecting Your Assets

Bankruptcy Attorney & Law Professor explains the 2026 Arizona bankruptcy exemptions. Protect your home and car from creditors.

A close-up image shows a stack of medical bills with 'FINAL NOTICE' stamps and an empty wallet, highlighting the financial strain caused by health insurance and medical bills. The url ‘Bankruptcy.blog’ is visible at the bottom.

Bankruptcy

Alexander Hernandez 13 min read

How Health Insurance and Medical Bills Drives Bankruptcy Claims

The content discusses the connection between medical debt and bankruptcy, emphasizing healthcare issues in America.

Trump tariffs. That’s all we see on social media and hear on the news, but it’s an issue financially that can’t be ignored. So you need to be prepared for the future. So, let’s start with the latest comment by President-Elect Trump regarding the tariffs. In an interview with Time Magazine for its “Person of the Year,” President-Elect Trump said, "It's hard to bring things down once they're up. It's very hard." Of course, before he had said at a press conference: "When I win, I will immediately bring prices down. Starting on day one, we will drill, baby, drill," referring to increasing domestic oil production to bring down prices of everything. Here's the issue: nobody credible has said that the Trump tariffs will bring down prices for you, whether for groceries or anything else. You can read that blog post below. Link trump tariff But it doesn’t end there. The monthly payments on student loans are also likely to go up. If monthly payments on student loans increase, and the Trump tariffs increase your costs by 25% or more, what does that mean for you financially? It means you have to come up with more money to break even. You have to increase your income or decrease your expenses. Both are difficult to do and if you don't, you will end up in more debt. LINK COLLEGE COST We have now witnessed President-Elect Trump confirming that he can't guarantee prices will go down. People like to rationalize and ignore facts, but I'm just going based on the facts. So politics are irrelevant. Trump surrogates argue, "Don't believe what he says." Okay, so don’t believe him when he says prices will go down or when he says it's hard to get them to go down? Sorry, but it can’t be both. This rationalization of trying to approve and decipher what Trump says is just pure gibberish. Either we believe him or we can’t. That's why I keep saying cut through all the noise, smoke, and mirrors. The reality is that the consumer will pay a tax if tariffs are issued. It's always been that way and always will be. No one will ship a product, pay more for it, and then say, "Don't worry about it; we'll cover the cost." It doesn't work that way. In one particular instance, for example, if the product was defective, but en masse, with thousands of products coming in, it's not going to happen. Of course, President-Elect Trump told a story about groceries, such as a woman going to buy three apples, finding out the price, and returning one apple. How expensive were these apples? Not to mention, as part of the story, Trump said that she returned the apple to the refrigerator. I've never been to a grocery store with apples in a refrigerator, but that's just me. But that’s the point. We shouldn’t believe this story either? Of course, another economic issue is mass deportation. This is why I keep saying we must be careful, cut through the political noise and the gibberish, and stop rationalizing. Set your politics aside and use common sense. Here's a fun fact that might scare everybody: most illegal immigration takes place through airports on visa overstays, not the U.S.–Mexico border. But you can't shut down the airports because tourists aren’t the scary boogeymen, plus they spend money. So it's a hard sell. It's easier to focus on those coming through the border, even though more people enter through airports. Besides, you can’t put barbwire at the airport gates, but you surely can do such a barbaric thing in the Rio Grande. Just ask Governor Gregg Abbott from Texas. By the way, those figures on visa overstays are from the government. Now, if there are fewer people available to do migrant jobs such as farming, you're going to have a supply shortage. With demand remaining the same and supplies short, the law of supply and demand means prices go up. Now add all this together. If you’re getting hit with tariffs, increased student loan payments, and now farming products and food becoming more expensive due to shortages, you're getting hit from multiple angles. And none of those angles will save you money, but it will cost you. Whether you’re a Trump supporter or an honorary member of MAGA, what I'm talking about is simple math. Consumers are taxed with tariffs, and if fewer apples are available, the prices go up. Some consumers are making large purchases now before tariffs come in. That's fine, but we need to look at the long term. Your monthly expenses will increase if you get hit with student loans, tariffs, and a supply chain shortage. You need to analyze your personal situation and decide if getting into more debt now is the right thing to do if your expenses increase. So whether it’s the Trump tariffs, the College Cost Reduction Act, or the likely disappearance of student loan forgiveness, make sure you budget for any increases. Be careful with any financial decisions moving forward. So, while saving on the higher costs of a new car sounds like a good idea, keep in mind that car payments will still be around for five years or more. A graphic of a cargo ship loaded with containers symbolizes global trade. The image is used to discuss the impact of President Trump tariffs on international commerce and economic policies. The website “bankruptcy.blog” is listed at the bottom.

Insights & Analysis

Alexander Hernandez 6 min read

No Guarantees that the Trump Tariffs Will Lower Prices

Trump tariffs and rising costs threaten consumer finances, increasing debt and expenses significantly.

Bankruptcy

Alexander Hernandez 7 min read

The Hidden Bankruptcy Risk of Renting Out Your Home

Learn whether Chapter 7 bankruptcy protects your homestead—and how renting out your home or living elsewhere can cause you to lose that protection.

Bankruptcy

Alexander Hernandez 8 min read

Understanding Alaska Bankruptcy Exemptions: Your Guide to Protecting Assets

Navigating bankruptcy in Alaska involves understanding state exemptions and residency requirements to protect assets.

Bankruptcy

Alexander Hernandez 6 min read

How Alabama Bankruptcy Exemptions Protect Your Assets

Alabama bankruptcy exemptions vary significantly, affecting asset protection based on residency and state laws.

Bankruptcy

Alexander Hernandez 6 min read

Handling insurance Proceeds and Bankruptcy

Insurance proceeds from hurricane damages impact bankruptcy; careful planning and documentation are crucial.