Category: Bankruptcy Law
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Business Bankruptcy
While the main focus of my bankruptcy practice is consumer bankruptcy, I do run across folks that own their own business and need to file bankruptcy. The cost and complexity of business bankruptcy mostly depends on two main factors: 1) whether the business is incorporated or is a sole proprietorship; and 2) the assets and…
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How to Get a Student Loan Bankruptcy Discharge
For the 40 million Americans who currently have student loans, many assume that student debt cannot be discharged through bankruptcy. However, this is simply not true. Receiving a student loan bankruptcy discharge can be difficult. However, in some cases student loan debt can be discharged during a Chapter 7 or a Chapter 13 bankruptcy. First,…
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Bankruptcy and Separate Households
A separated couple have the option of filing a Chapter 7 bankruptcy together. Despite keeping separate households, they can still qualify for bankruptcy. However, there are some important things to be considered. Keep reading to avoid some common problems in these type of cases. First, separated couples will have to file two Schedule Js. Schedule…
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Qualify for Bankruptcy
To qualify for bankruptcy, there are multiple things to look at. Debt, income, and other factors all play a role. This article will focus on qualifying for Chapter 7 Bankruptcy. The first qualification is that you must have debt. There is not necessarily a hard and fast rule about how much debt you must have to…
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Can Bankruptcy Stop Lawsuits?
Can bankruptcy stop lawsuits? Yes! This is one of the most powerful features of filing bankruptcy. The instant a person files a bankruptcy case, the “automatic stay” goes into effect. The automatic stay is intended to give a debtor (the person that filed bankruptcy) some breathing room to sort out his or her finances. Crucially,…
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How to Stop Wage Garnishment
Here in California, a judgement creditor can garnish your wages. A creditor can take up to 25% of your gross paycheck each pay period. For many of my clients, this is a disaster waiting to happen. Let me tell you how garnishments start, and how to stop it. Before a creditor can take money from your…
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How to Keep Your Car in Bankruptcy
Almost everyone that calls my office wants to know whether they can keep their car despite having filed for bankruptcy. The answer is almost always yes! In a Chapter 7 Bankruptcy, also known as a liquidation, a debtor’s assets are subject to being taken by the Bankruptcy Trustee. However, in most consumer cases, this never…
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How to File Bankruptcy
Want to file bankruptcy? The bankruptcy process can be very intimidating and confusing. And that’s for good reason. Bankruptcy is a critical life decision that has long-lasting implications. But at its core, the bankruptcy process is comprised of a few important areas. 1. Assets The bankruptcy court and the bankruptcy trustee want to know about…
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How to Surrender a Car in Bankruptcy
Did you know that you can easily surrender your car in a Chapter 7 bankruptcy? You can escape high loan payments, punishing interest, and avoid lawsuits. If you lease or finance a car and attempt to surrender the car outside of bankruptcy, your lender will likely charge you all sorts of fees. Many times, a…
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Sacramento Bankruptcy Filing Fee Installment Request
I have written about the cost of Chapter 7 Bankruptcy in Sacramento as well as recent increases to the filing fees here in town. One question I often get is whether the Bankruptcy Filing Fee can be paid in installments. The answer is yes! Currently the Chapter 7 Bankruptcy filing fee is $335. This amount…