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San Diego now allows “McMansions” in Chapter 7 Bankruptcy »

For many years, it was questionable whether a debtor who filed for chapter 7 relief was able to keep expensive real estate at the expense of paying other creditors.  At least 5 cases have come down since the new laws passed in 2005 that held that such high expenses related to residences was an “abuse” [...]

San Diego: New Ruling Allows Student Loans to be Discharged in Chapter 13! »

The United States District Court located in San Diego recently issued an opinion on December 10, 2008, holding that student loans may be discharged in chapter 13 bankruptcy cases where the creditor fails to object after receiving proper notice.  Other cases around the country are also holding the same and the United States Supreme Court [...]

Chapter 20: San Diego Bankruptcy Court allows Lien Stripping in Chapter 13 after Chapter 7. »

The Southern District of California Bankruptcy Court in San Diego recently issued a ruling that allowed a junior lien to be removed in a Chapter 13 case, even though the debtor was not eligible to obtain a discharge. Discharge was not available since the debtor previously filed a chapter 7 petition and the new bankruptcy laws [...]

California Foreclosure: 90 More Days Added under 2923.52(a) »

 
Good news for California Homeowners who are in default on their mortgages.  On February 20, 2009, Governor Schwarzenegger signed ABX2 7 and SBX2 7.  These new laws provide additional time for borrowers to work out loan modifications who are presently facing foreclosure.  This law went into effect June 15, 2009.

Attorney Liens in Bankruptcy »

It is not uncommon for debtors to have attorney fee claims against themselves and/or future property of the estate.  The most common example is an attorney fee lien agreement on a personal injury case.  In the event of recovery in those cases, the attorney typically receives 33% or more of the gross settlement or judgment.
Recently, [...]

Top 20 Cities for Credit Card Spending »

Forbes.com says the top 20 American cities for credit card (over)spending are:

Miami, FL
Tampa, FL
Los Angeles, CA
Jacksonville, FL
Orlando, FL
Riverside, CA
San Diego, CA
San Antonio, TX
Las Vegas, NV
Sacramento, CA

I still owe HOA Fees after I filed Bankruptcy and Surrendered my Home? »

Technically yes.  Debtors are frequently surprised to find that they are still personally liable for HOA fees after filing for bankruptcy, even though they have moved out and for all intents and purposes made known their intent in the bankruptcy that they are surrendering their property back to the bank.  Such liability is the result of [...]

Bankruptcy and Lenders who Refuse to Pick Up Vehicles »

Recently, many lenders have been refusing to pick up vehicles that debtors are surrendering in bankruptcy proceedings.  Perhaps if these lenders picked up these vehicles and sold them at auction, they would need less bail out money and might avoid Chapter 11.

I’ve Moved During My Bankruptcy: Now What? »

It is not uncommon for debtors to move while their Chapter 7 or 13 bankruptcy is pending.  Generally, this is not an issue provided a change of address is sent to all necessary parties.  If you move before your case is discharged, do not assume your mail will be forwarded.  Instead, at least notify your [...]

Bankruptcy and Short Sales: California »

Every week we get clients filing for bankruptcy protection asking questions whether they should proceed with a short sale on their real estate.  The bottom line, is that if you are filing for bankruptcy, you should forget about a short sale in most situations.
Lets first define what a short sale is.  When you sell real [...]