BK Blog

/BK Blog/

May 3, 2016

Bankruptcy Helps The Middle Class To Survive

By | May 3rd, 2016|Categories: Bankruptcy Law|

You did what you were supposed to do in life. You went to school.  Got a job.  Earned decent wages. Worked hard.  Started a family. Maybe you've even managed to put a child through college. You paid your bills on time, one way or another. But now you owe a lot of money that there's just no way you can pay back and you simply cannot afford to keep making payments. It Was Easier Before... In the "old" days (about [...]

February 26, 2016

Why It Is Important To Have A Bankruptcy Consultation Sooner Rather Than Later

By | February 26th, 2016|Categories: Bankruptcy Law|

A potential client canceled her appointment with me today. That's nothing new;  happens all the time. I'm just happy she actually told me. But what floored me was her reason for canceling: She didn't know if bankruptcy was the path she wanted to go, and therefore did not want to have a consultation to learn about her options until she was fully committed to doing so. This sure seemed like twisted logic to me.  Especially since she sought me out and [...]

Should You File A Homestead Declaration Before Bankruptcy?

By | February 11th, 2016|Categories: Bankruptcy Law|

It is very inexpensive (less than $20) to record a homestead declaration in California, but it can be very expensive if you fail to do so prior to filing a bankruptcy case. What is a homestead declaration? A homestead declaration is a document which is filed with the county recorder's office. It states (declares) that that the property listed is your primary residence and that you physically live in the dwelling. The main purpose of the homestead declaration is to protect [...]

December 21, 2015

My Top 10 Bankruptcy Blog Posts of 2015

By | December 21st, 2015|Categories: Bankruptcy Law|

2015 saw many rare or unusual events outside of the bankruptcy world. Donald Trump surged to the top of the polls as the Republican candidate for president. Secret Service Agents crashed their car at the White House. Kansas City won the World Series. Justin Bieber didn't get arrested for something. And amidst all this were my blog posts on the Los Angeles Bankruptcy Blog site. If you didn't read them, here's your chance now. The following are my ten most [...]

November 30, 2015

New Bankruptcy Forms Make Filing Trickier

By | November 30th, 2015|Categories: bankruptcy attorneys, Bankruptcy Forms, Bankruptcy Law, Filing Bankruptcy|

The New Bankruptcy Forms Are Longer and More Confusing The scariest phrase in the English language is "I'm from the Government and I'm here to help!" Well, the government decided in its infinite (and by infinite, I mean infinitesimal) wisdom to completely revise the forms needed to commence a bankruptcy case. The stated goal was to make them easier and more understandable for non-attorneys to complete. They are not. And I promise I'm not just saying that because I'm a [...]

How Chapter 13 Bankruptcy Can Help With Home Loan Modifications

By | November 25th, 2015|Categories: Bankruptcy Law, chapter 13, Loan Modification|

Trying To Do Loan Modifications With A Pending Foreclosure Is Risky Tell me if any of this sounds familiar. You attempt to refinance or modify your home loans in order to obtain a more affordable interest rate or payment and avoid foreclosure. But the bank has recorded its Notice of Default and is proceeding to foreclose. Your application has already been denied or sent back for "more information" several times and you have to keep starting over. A friendly voice [...]

October 20, 2015

Donald Trump Was Right About Bankruptcy

By | October 20th, 2015|Categories: asset protection, Bankruptcy Law|

Everyone likes to make fun of Donald Trump.  Myself included*. He's an easy target. Especially his hair. One of the "jabs" detractors repeatedly throw at him is that he filed bankruptcy. They intend to imply that since he filed bankruptcy, he's therefore unfit to lead, or run a business, or pretty much do anything. This is wrong for a number of reasons:  Donald Trump never personally filed bankruptcy; and  Even if he did (and some of his corporations have), it's [...]

September 11, 2015

There’s More To Bankruptcy Than Just Filling Out Forms

By | September 11th, 2015|Categories: bankruptcy attorneys, Bankruptcy Law, Filing Bankruptcy, new bankruptcy laws|

There is a great misconception out there shared by many that filing bankruptcy is simple-- that all you need to do is fill out some forms, attend a meeting, and you get rid of all your debts. This idea is shared by many before they file a bankruptcy case, and by almost no one after the case is filed. It is certainly not shared by those who call me on  a daily basis trying to fix problems caused because they [...]

August 17, 2015

Why You Should Not Repay Debts Before Filing Bankruptcy

By | August 17th, 2015|Categories: Bankruptcy Law, chapter 7, debts in bankruptcy, Discharge Issues, preferential payments|

Why pay off a credit card or other debts before you file bankruptcy? This would seem to be a counter-intuitive thing to do.  After all, you're filing bankruptcy presumably because you need to eliminate debts. But many debtors choose to pay off some of their creditors right before filing bankruptcy. Many think that by paying off a credit card before filing bankruptcy, they will continue to be able to use that card after bankruptcy and that it will not be [...]

June 25, 2015

Bankruptcy Attorney Fees: You Get What You Pay For

By | June 25th, 2015|Categories: bankruptcy attorneys, Bankruptcy Fees, Bankruptcy Law|

We've all done it. . . purchased a cheap product only to have it break or fall apart shortly thereafter. A watch.  A purse.  Sunglasses. Electronics. That's OK when you don't mind throwing something away and getting a new one. But when you're dealing with personal services, such as hiring a bankruptcy attorney or other professionals, if the quality isn't there, the damage often can't be fixed. Today I responded to a public question posted on Lawyers.com regarding a bankruptcy attorney which [...]