Your House: Can you keep it in bankruptcy? And if so, what other options are available? How to calculate equity.
Chapter 7 Qualifications: Credit Card and Student Loan Payments Don’t Count
January 4, 2011 by · Leave a Comment
Credit card and student loan payments do not factor in to the analysis for determining Chapter 7 eligibility. It seems not a day goes by that I’m not trying to explain to a potential client why their payments to debts owed to unsecured creditors do not count in their budget in determining eligibility to file [...]
Automatic Stay in Bankruptcy: BAP Clarifies Scope
July 23, 2010 by · Leave a Comment
Attorneys Fees Awarded in Divorce: Are they Dischargeable?
April 22, 2009 by · 1 Comment
Debt Consolidation or Bankruptcy: Which is Better?
February 4, 2009 by · Leave a Comment
One of the most frequent questions bankruptcy attorneys are asked by potential clients is whether they should file bankruptcy, or use a debt consolidation company to make payments towards their debts. For those lucky debtors who qualify for Chapter 7 (which requires no repayment of debts but allows in most cases for discharge of all [...]
SB 61: Eliminate Mortgage Liens in Chapter 13
January 30, 2009 by · Leave a Comment
On January 6, 2009, Senator Dick Durbin (D, IL) introduced Senate Bill 61 called the “Helping Families Save Their Homes in Bankruptcy Act of 2009.” The bill has several provisions, which can be analyzed by following the above link, but the main purpose of the bill is to allow homeowners in a Chapter 13 bankruptcy [...]
How much debt do you need to go bankrupt?
July 8, 2008 by · Leave a Comment
A question I have been repeatedly asked over the years from my potential bankruptcy clients is: How much debt do they need before they can declare bankruptcy? I have found that this question has different intent and meaning to different people. For example, some people think that there actually is a minimum amount of debt [...]
How Much Will This Chapter 13 Cost You?
June 28, 2008 by · Leave a Comment
I often get asked this important question by concerned potential clients. It is very difficult, if not impossible, to answer how much the attorneys fees for any bankruptcy will be before having a consultation and getting all the relevant information. It’s even more difficult to do in a Chapter 13 bankruptcy case. Why? Let’s say [...]
Ninth Circuit Rules that Means Test Controls Chapter 13 Plan Length and Payment
June 27, 2008 by · Leave a Comment
Earlier this month, the Ninth Circuit Court of Appeals in Maney v. Kagenveama (In re Kagenveama), 527 F.3d 990 (9th Cir. June 2008) held that where an above-median chapter 13 debtor has negative “disposable income” per the means test but a monthly surplus per schedules I and J, the debtor is NOT required to propose [...]
Bankruptcy Can Remove Liens Against Your Home
June 25, 2008 by · Leave a Comment
Under certain circumstances, in California, junior liens (deeds of trust) can be removed from your home in a Chapter 13 bankruptcy case. This is known as “lien-stripping.” The way it works is: If the fair market value of your home is less than the amount owed on your first mortgage, you can lien strip (remove) [...]
