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Archive for April 6th, 2008

722 Redemption: Saving Thousands on Secured Assets. »

11 USC 722 of the Bankruptcy Code codifies the power to redeem secured assets.  In layman’s terms, this means you can make a lump sum payment and pay off the entire balance for the fair market value of the asset.
If you liked that post, then try these…Jones Versus Wells Fargo Addresses The Rights Of Debtors [...]

Should I Reaffirm My Car In Southern California? »

In most cases, No.  In most cases, the value of the car is significantly lower than the debt against it.  Sort of like our housing market……and look at the mess thats causing in real estate since values are now less than the loans securing it!  So if you don’t want to go bust like all [...]

A Bankruptcy Attorney’s Story: Catching Those Who Are Falling »

For many years bankruptcy was seen as something that was used by either businessmen like Donald Trump or by people who didn’t have much income. This is no longer true as people in lower, middle, and the upper class are turning to bankruptcy lawyers for help.
My friend, colleague, and sometimes adversary, Rick Mitchell [...]

Paid a Relative Money Recently? Here’s How to Fix It! »

If you have recently repaid a relative for money you borrowed, your bankruptcy lawyer has probably told you that the trustee will attempt to get this money back from the relative to whom you paid it. This is because of Bankruptcy Code section 547, which allows the trustee to recover money repaid to a relative [...]