Category: Chapter 7 Bankruptcy
-
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…
-
5 Things You Need to Tell Your Bankruptcy Attorney
Declaring bankruptcy necessarily requires you to disclose a large amount of information to the bankruptcy court. As your attorney, I work closely with you to ensure that all your bases are covered. Here are some important areas that you should keep in mind when considering bankruptcy. 1. Your Income This might seem obvious, but you…
-
Four Important Tips for Timing Your Bankruptcy
Planning your bankruptcy is essential to getting your finances back on track. Consider these tips before you file: 1. Emergency Situations Have you received notice of a lawsuit, garnishment, bank levy, foreclosure, or repossession? Bankruptcy will immediately stop these actions. In these emergency situations, your bankruptcy should be filed as soon as possible. Don’t just ignore…
-
Sacramento Bankruptcy Trustees – What You Need to Know
Unlike what you see on TV, in bankruptcy court you rarely meet your judge. Instead the court assigns your case to a “trustee” for administration. Trustees usually have previous experience with bankruptcy court and come from backgrounds in law or accounting. The role of the Sacramento Bankruptcy Trustees is to remain impartial and to ensure that…
-
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…
-
Waiting to Declare Bankruptcy Could Cost You
I often consult with people that have waited far too long to declare bankruptcy in Sacramento. Unnecessary delays can be dangerous for a few reasons. But I want to focus on one reason that could cost you big money. If you own a home in Sacramento, you are used to wild fluctuations in house values.…
-
Sacramento Wage Garnishment Tips
I have said it before and I will say it again: one of the top reasons people seek bankruptcy help is because of a wage garnishment. A Sacramento wage garnishment can have disastrous effects on your finances. Here are some tips that can help you deal with a wage garnishment. 1. Be Proactive First of…
-
Never Do These 5 Things Before Filing for Bankruptcy in Sacramento
DON’T Pay Back Friends or Family Members In the eyes of the court all creditors are to be treated the same, whether it’s a collection agency, a bank, or your mom. Most people want to pay back their debts, especially to friends and relatives. However, this could create preference issues in your case and the court…
-
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…
-
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”…