Category: Bankruptcy Law
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Filing Bankruptcy in December? You Need to Read This.
Something big happened this month in the bankruptcy universe. The official forms provided by the United States Bankruptcy Court completely changed as of December 1, 2015. Unlike official forms in other types of legal proceedings, these bankruptcy forms — often called the “petition and schedules” — are mandatory for all bankruptcy filers. Said another way,…
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Donald Trump’s Many Bankruptcies
Donald Trump certainly has been in the news a lot recently. Whatever you think about his politics or show business credentials, the man clearly knows his way around a United States Bankruptcy court. A brief review of bankruptcy court information reveals that Donald Trump’s organizations have filed at least five bankruptcies since 1990. Each of these…
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How to Declare Bankruptcy in Sacramento
Unfortunately, you can’t wish all of your debts away by just saying the words “I declare bankruptcy.” The process is complicated and full of traps for the unwary. If you want to declare bankruptcy in Sacramento, you should read this brief outline of the bankruptcy process from start to finish. For those that are new…
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New Car Loan During Chapter 13 in Sacramento
Chapter 13 bankruptcy cases are considered “reorganization” bankruptcies. The case will last between 3 and 5 years, and during that time the debtor will repay at least a portion of that debt. Chapter 13s are great for many debtors, but they can be cumbersome because many large life decisions require court approval. For instance, if…
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Same-Sex Marriage & Bankruptcy
You might have recently heard that the United States Supreme Court recently ruled that states may not prohibit same sex couples from marrying. Along with a decision a few years ago striking down the Defense of Marriage Act (DOMA), these two decisions have an important impact on bankruptcy law as it relates to same sex…
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SB 308 Update to California Bankruptcy Exemptions
UPDATE: Unfortunately, SB 308 failed to pass this year. The California Legislature is currently debating a bill that would greatly expand legal protections for bankruptcy filers in California. Senate Bill 308, introduced by Senator Wieckowski, would expand and improve upon California’s current two-tier system of bankruptcy exemptions. Bankruptcy exemptions are laws that allow bankruptcy filers to…
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Credit Reports After Bankruptcy
I tell all of my clients to check their credit reports after bankruptcy. There are some dirty tricks that some creditors are using to impact your fresh start. But you don’t have to put up with it. Read on to learn more. After your bankruptcy has been discharged, your credit report should list your unsecured…
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Student Loan Bankruptcy Attorney
As you know, discharging student loans in bankruptcy can be difficult. Current bankruptcy law is set up so that bankruptcy discharges for student loans requires special procedures. I am a Student Loan Bankruptcy Attorney in Sacramento, and I am looking for select student loan cases in Northern California. Many people believe that student loans cannot ever…
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What is a Notice of Filing Report of No Distribution?
I am often asked about what a “Notice of Filing Report of No Distribution.” Almost all Chapter 7 debtors will receive such a notice in their Chapter 7 Bankruptcy case. It is an important document that has big implications for your bankruptcy. As I discussed a few weeks ago, some Chapter 7 cases are “asset”…
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What is a Bankruptcy Asset Case?
There are two main types of Chapter 7 bankruptcies: asset and no-asset cases. There is a huge difference between the two. Read on to learn more about a bankruptcy asset case. Legally speaking, a Chapter 7 Bankruptcy is known as a “liquidation” bankruptcy. The bankruptcy court is empowered to liquidate your assets to provide a…