A recent email arrived with a question from a women who hired an attorney two years ago to file a Chapter 13 bankruptcy. She paid the bankruptcy attorney $1,000 up front. No other payments were made, but the Chapter 13 bankruptcy was never filed. Her question was this: is it possible to obtain a refund […]
If you are a landlord and your past due tenant is not only moving out, but is also rumored to be considering bankruptcy, is there any benefit to suing for past due rent? How is past due rent treated in a bankruptcy filing? When it comes to a landlord/tenant relationship, bankruptcy is mostly going to […]
Many people experience extreme financial distress during the same period when they are experiencing equally extreme distress in their relationship. We aren’t here to discuss if one situation is a catalyst for the other, but to outline how a legal separation alters the affect of bankruptcy on the filer and the filer’s spouse (from which […]
People will do a lot to avoid filing for bankruptcy. And as an experienced southern California bankruptcy attorney, I am in full agreement. It’s always best to do everything you can to take care of your debt and financial liabilities without filing for bankruptcy. Filing for bankruptcy is a legal protection for those who simply […]
There are all kinds of ways to get overwhelmed by debt. You might start off with a little bit of credit card debt, and then add a mortgage. A little while later you may throw in an auto loan or two. Along the way, you may be very friendly with your credit cards and they […]
The main concern of many bankruptcy petitioners is their home. They know that bankruptcy is their best (or only) means of solving their financial situation, but they don’t want to lose their house. Many are willing to go to extreme measures not to lose their home. Consider this real life example: Jane McCadden is considering […]
Sometimes people come to bankruptcy attorneys with particularly sticky situations. One of the most common types of “sticky” situation following divorce comes when unpaid debt of one party affects the other party negatively. In fact, in some cases, the ex’s unpaid debt can result in a lawsuit that can cause a lien to be placed […]
A big part of determining eligibility for bankruptcy protection is the means test. So when a bankruptcy petitioner has questions about the means test, we take them seriously. Not only is it vital that all the information is accurate, but it also has to be extremely thorough. When it comes to bankruptcy, a lie of […]
When it comes to debt collection, it all feels wrong. It feels mean and unjust and underhanded even when the collector is attempting to collect on a valid debt. This feeling of being “wronged” by the people and/or companies that are trying to get money out of you to pay towards unpaid debts probably starts […]
If anyone ever calls you and asks you to cosign a loan for them, regardless of who they are, your answer should be no. Don’t do it – unless you like the idea of financial trouble and pending bankruptcy proceedings. If you’re going to ignore this sage wisdom and become the cosigner on a loan […]
When in a tight situation financially, it can get to the point where you thought you could manage or catch up and suddenly, your bank account has been cleaned out and your wages are being garnished. This can be completely devastating as it leaves the individual (and sometimes family) without any means of immediate support. […]
During bankruptcy, a house can be sold, but it requires the court’s permission. As soon as the petition for bankruptcy is filed, the home and all other possessions of the petitioner become a part of the bankruptcy case. Creditors cannot foreclose on your property while it’s shielded by bankruptcy, but the same laws prevent you […]
Anyone who files bankruptcy must include proof of their income in their filing. Most filers simply submit their pay stubs. According to Section 521 of the Bankruptcy Code, bankruptcy petitioners must send in a minimum of two months of “payment advices” (i.e. pay stubs) received from an “employer.” Bankruptcy petitioners who are self employed often […]
There’s not really a specific time that is all around “bad” for filing Chapter 13 bankruptcy. The best timing to file really depends upon your specific situation. It can depend upon the timing of personal events, the date of the last large credit transaction, major financial crises, etc. One thing that is useful to consider […]
There’s comes a time in everyone’s life when they consider the possibility of their death. When this time comes some are thinking about things they still want to do while others are thinking of tasks left undone. Some think of places they still want to go and things they still want to do. And sadly, […]
Often unpaid debts can change hands many times during the course of attempted payment, especially when the debt is old. It is often impossible to list all the collection agencies who have handled a specific debt while filing your case. It is also unnecessary. You do not need to be certain which company holds the […]
There has been an evolution of the mortgage crisis. During the time of this crisis, many lenders were rejecting all loan modifications. Many clients were forced to file Chapter 13 bankruptcy in order to attempt to save their homes and pay toward delinquent mortgages. Many could not afford the bankruptcy and their regular mortgage payments […]
It is common for one spouse to sign off on a property title during a divorce. However, creditors aren’t part of these divorce agreements, and specifically, mortgage companies are not required to take your name off the original loan. You and your ex-spouse are still both legally responsible for the mortgage despite what was agreed […]
We’ve all known someone at some point or another who was named after their mother, father, grandparent, etc. In these situations, it is surprisingly common for the credit reporting agencies to receive a “mixture” of information on the different individuals with matching names. It doesn’t seem to matter that the social security numbers are not […]
If you are thinking about declaring bankruptcy, take some time to consider your entire debt. Consider all your options. Talk to the experts on the subject. Weight the options to determine if bankruptcy is the most appropriate choice. It could be that your situation would be handled better using a different solution. When possible, it […]