Category: Chapter 7 Bankruptcy
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Chapter 7 Bankruptcy February
There were 828 Chapter 7 Bankruptcy cases filed in the Sacramento area during February 2014. That is a 16% increase from January 2014. Chapter 7 filings are up after the slow winter holiday season. I expect this trend to continue as tax refunds come in. Tax refunds are a popular way to pay for the…
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Don’t Qualify for Chapter 7? You Have Options
When thinking about bankruptcy, most folks think of Chapter 7 Bankruptcy. Chapter 7 provides a “fresh start” by wiping out unsecured debt. The process takes about 3-4 months. For most people, the Chapter 7 bankruptcy process is relatively painless. However, because of how the bankruptcy code is written, not everyone will qualify for Chapter 7…
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Your Tax Refund and Bankruptcy
\Welcome to Tax Season! With it comes special precautions for people filing Chapter 7 Bankruptcy. You must take special care to protect your tax refund. All of a debtor’s assets, as they existed on the date of filing, belong to a debtor’s Bankruptcy Estate upon the filing of Chapter 7 Bankruptcy. This includes a debtor’s…
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Chapter 7 Bankruptcy January
There were 712 new Chapter 7 Bankruptcy cases in Sacramento during January 2014. That is a 3% decrease from December 2013. 712 new cases will likely be the low water point for the year. We can expect that bankruptcy filings will start to pick up again this spring as people start to receive their tax…
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521 Documents: What You Need to Know
Before your Meeting of Creditors, also known as a 341 hearing, a debtor is required to provide certain documents to the Bankruptcy Trustee assigned to his or her case. These required documents are commonly referred to as “521 documents” because the requirement is listed in a few parts of 11 USC § 521. Let’s start…
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Chapter 7 Bankruptcy Can be Affordable
One question I get asked a lot is “I’m struggling with my bills, how am I supposed to afford a bankruptcy attorney?” I tell my clients that it is always my goal to provide cost-effective legal services. Trust me, bankruptcy can be affordable in Sacramento! Just like everything in life, there are a wide range…
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Bankruptcy Car Repossession
Many of my bankruptcy clients have had a car repossessed. Car repossession can be very expensive. Many times, a customer is left with a large bill from their lender even though they do not own the car any more. Bankruptcy can help in this situation. When a car is repossessed by a lender, the car…
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Chapter 7 Bankruptcy Filing Numbers in December
There were 734 Chapter 7 bankruptcy cases filed in the Sacramento area during December 2013. This is only counting Chapter 7 cases in the Sacramento Division of the Eastern District of California. The numbers would be higher if I counted cases filed in the Modesto, Fresno and Bakersfield divisions. As you can see, the Eastern…
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Emergency Bankruptcy Can Save Your Bacon
If you were just slapped with a notice of a bank levy, a wage garnishment, or served with a lawsuit, you might be wondering about your options. In these cases, an emergency bankruptcy filing may be appropriate. Typically I work with my clients over 2-4 weeks to prepare their bankruptcy case for filing. However, in…
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Spousal Waiver in Bankruptcy: What You Need to Know
The audience for this blog post is very specific: Chapter 7 filers in California that are married, but filing bankruptcy without their spouse. If you match this criteria, you need to know about the Spousal Waiver. A married couple may file bankruptcy together. Both spouses are listed on the Bankruptcy Petition and are both given…