Always tell you bankruptcy attorney everything. There are a number of posts about disclosing all of your assets and all of your debts, but everything includes your income and expenses as well. And not just current income; please tell you attorney about bonuses you expect, receivables you are going to get, or anything else that [...]
Douglas Jacobs, California Bankruptcy Attorney
In Bankruptcy, the “Camaro factor” is the title I have given to the phenomena of people I meet placing too high a value on their property. Often this manifests itself among men and their cars. It is the rare occurrence when I meet a prospective bankruptcy client who actually recognizes that the value of the [...]
The most important impact of filing Bankruptcy is the automatic stay. That provides a guard against any collection activity including garnishments, foreclosures, and harassing collection companies. The second dramatic thing that happens is, most often, a dip in one’s credit score. Even if your score was pretty low to begin with, once the credit reporting [...]
The means test is one of the first things that your attorney needs to prepare in order to file a consumer bankruptcy. The results of this process will tell you whether you qualify to file a Chapter 7. And it will tell you what your monthly payments would be if you were to file a [...]
If you are behind in the mortgage payment on your home, there are several things you can do. One way to stop a foreclosure is to file bankruptcy. Once filed, there is an automatic stay that goes into effect that keeps anyone from taking your property, including your home. In a chapter 7 bankruptcy, however, [...]
When you file bankruptcy, regardless of which chapter, you must list all of your debts and all of your assets. Bankruptcy law requires you to list both and you are signing the petition under penalty of perjury that you have listed everything. If you don’t list all of your assets, lots of bad things can [...]
