Category: California
By Michael Doan on Apr 27, 2008 in Bankruptcy Legislation, Bankruptcy Practice and Procedure, California, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Consumer Protection, Discharge, What Can and Cannot Be Forgiven, General Bankruptcy Information, Protecting Assets In Bankruptcy, Surrendering Property | 0 Comments
Maybe. It depends. Do you owe the IRS any prior monies? Can you claim the monies due to you as exempt?
Popularity: 35% [?]
Popularity: 35% [?]
By Michael Doan on Apr 27, 2008 in Bankruptcy Practice and Procedure, California, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy Information, Personal Property, Protecting Assets In Bankruptcy, Surrendering Property | Comments Off
Technically speaking, once you file for bankruptcy, all your property is no longer yours. Instead it is now part of a new entity called the Bankruptcy Estate, pursuant to 11 USC 522. Nevertheless, in most cases, it goes back to you relatively quickly.
In chapter 7, all your property comprises the bankruptcy estate until one of [...]
Popularity: 29% [?]
By Michael Doan on Apr 20, 2008 in Bankruptcy Practice and Procedure, California, Consumer Protection, Debt Collector Abuses, General Bankruptcy Information | 0 Comments
Many creditors have been improperly publishing confidential information about debtors in proof of claims in response to chapter 13 cases over the years. Recently, many debtors’ attorneys have been moving the Bankruptcy Court to restrict this information. Now, the Bankruptcy Court for the Southern District of California has taken this one step further!
If you liked [...]
Popularity: 18% [?]
By Michael Doan on Apr 13, 2008 in Bankruptcy Practice and Procedure, California, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy Information | 1 Comment
Trustees, the US Trustee, and the Court can be a stickler when it comes to dates, and its not uncommon for your hearing to be continued as a result. Hopefully, after reading this Blog, no one will ever have a continued hearing as a result of incorrect dates again.
If you liked that post, then try [...]
Popularity: 22% [?]
By Michael Doan on Apr 13, 2008 in Bankruptcy Myths, Bankruptcy Practice and Procedure, California, Chapter 7 Bankruptcy, General Bankruptcy Information | 1 Comment
So you did all that work to prepare your case and file for Chapter 7. Likewise, your attorney charged you $1000 to $5000 to help you get all the forms correct and represent you in the matter. So after about 20 to 30 hours later, there are now about 30 to 45 pages of documents [...]
Popularity: 19% [?]
By Michael Doan on Apr 6, 2008 in Bankruptcy Practice and Procedure, California, Chapter 7 Bankruptcy, General Bankruptcy Information, Personal Property, Protecting Assets In Bankruptcy, Redemption of Assets, Surrendering Property, Vehicles | 0 Comments
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…Can Bankruptcy Result in Identity Theft? Part II [...]
Popularity: 34% [?]
By Michael Doan on Apr 6, 2008 in Bankruptcy Myths, Bankruptcy Practice and Procedure, Benefits of Bankruptcy, California, Chapter 7 Bankruptcy, General Bankruptcy Information, Life After Bankruptcy, Personal Finance, Personal Property, Reaffirmation of Debts, Surrendering Property, Vehicles | 0 Comments
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 [...]
Popularity: 46% [?]
By Michael Doan on Mar 30, 2008 in Bankruptcy Legislation, Bankruptcy Myths, California, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy Information, Means Testing, Role Of The Lawyer | 0 Comments
In my last blog, I touched on how Bankruptcy was a “snapshot” in time wherein all information on the bankruptcy petition must be accurate as of the date your bankruptcy petition is actually filed. In this blog, the ramifications of filing a month later is explored. We take the example of filing in April 08 [...]
Popularity: 48% [?]
By Michael Doan on Mar 30, 2008 in Bankruptcy Practice and Procedure, California, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy Information, Means Testing, Pay-Off Statements, Role Of The Lawyer, Venue and Qualifications | 0 Comments
With the advent of the new Bankruptcy laws in 2005 came a plethora of new changes and requirements, most of which require numerous substantiating documents which also coincide with strict time frames. Failing to supply such documents and/or abide by the new time frames might mean something as slight as continuation of your case to [...]
Popularity: 43% [?]
By Cathy Moran, California bankruptcy lawyer on Mar 29, 2008 in California, Chapter 13 Bankruptcy, Featured, Tax Issues | 0 Comments
My office has been flooded this week with clients with failed offers in compromise for IRS tax debt. Like most clients, they have been clinging to the hope that there was a solution other than bankruptcy.
The comparison of OIC vs. bankruptcy is neatly laid out in an article by Larry Heinkel in the Florida [...]
Popularity: 26% [?]
