About Mark J. Markus

Attorney Mark J. Markus has been practicing exclusively bankruptcy law in Los Angeles, California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.

What Is The Bankruptcy Lookback Period in California? 6 Months? 90 Days? 1 Year?

People often ask about "lookback" periods in bankruptcy. What are they? While the word lookback is not mentioned anywhere in the Bankruptcy Code, Bankruptcy has several different lookback periods which people often refer to regarding a case. I will discuss them below. The Six (6) Month Bankruptcy Lookback The 6-month lookback refers to calculation of budget eligibility for people filing bankruptcy that have "primarily consumer debts".   Consumer debts are those used primarily for household/personal things.  For example, credit cards used [...]

2022-04-28T17:30:20-07:00April 28th, 2022|

How Can Bankruptcy Save My Home From Foreclosure in California?

Are you facing a foreclosure on your home or property? The California Foreclosure Process Most foreclosures in California are "non-judicial", meaning they are done without involving courts. They are done based on the contract signed for the security interest in the Property.  The Note and Deed of Trust. The process takes a minimum of 3.7 months and contains the following steps:  Recording a Notice of Default:   This document states that you are in default on the loan and they intend [...]

2022-04-20T16:20:58-07:00April 20th, 2022|

What Happens To Assets And Property In Chapter 13 Bankruptcy Cases?

A big concern people rightfully have when filing a bankruptcy case is whether they can keep their house, cars, savings, and other assets. In a Chapter 7 case, a Trustee is appointed to sell or liquidate any assets which are not exempt under applicable laws. In most Chapter 7 cases, all the assets are exempt and the Trustee won't sell anything. But sometimes you may have too much equity in your house or excess value in other assets which cannot [...]

2022-03-21T15:15:39-07:00March 21st, 2022|

Can Bankruptcy Help With Cryptocurrency Romance Scams And Debts?

The Cryptocurrency Romance Scam There is a new twist on an old scam going around, and it is affecting young and old. Romance scams are nothing new. A charming suitor gains your trust, and heart, and then gets you to send them money. This new version adds cryptocurrency as the means towards that end. Making the unsuspecting victim think they are both helping out the suitor and investing in cryptocurrency which will generate ongoing income. As an example, a young [...]

2022-02-09T10:53:31-08:00January 26th, 2022|

Debts That Are Not Discharged In Bankruptcy Mark J. Markus Attorney

Most Debts Are Discharged In Bankruptcy The principal reason for filing bankruptcy is to obtain a discharge of the obligation to pay on your debts. Most debts can be discharged in bankruptcy, but not all of them. Some are automatically not discharged, while others require action by the creditor in order to make them not dischargeable. Some debts which can be discharged in a Chapter 13 case, cannot be discharged in Chapter 7  or  Chapter 11. Debts Not Discharged In [...]

2021-12-16T16:45:08-08:00December 15th, 2021|

How Many Regret Filing Bankruptcy?

How Many Former Clients Regret Filing Their Bankruptcy Case? I have been practicing exclusively bankruptcy law in California for over 30 years. Much of that practice has been filing bankruptcy cases for debtors in need of a fresh start. And I was recently asked by a potential new client how many of my past clients regretted that they filed bankruptcy. I thought for a while, and combed through my client reviews and other notes, and I could not find any. [...]

2022-02-09T10:51:04-08:00December 13th, 2021|

Personal Injury Bankruptcy Exemption California – Attorney Mark J. Markus

Many of my clients come to me after a personal injury has rendered them unable to work. Their income loss causes them to default on their debt payments. Often this results in them needing to file bankruptcy. This article explains how personal injury claims can be protected in bankruptcy in California. And how to get a referral for a good PI Attorney. Personal Injury Claims In Bankruptcy Many bankruptcy cases become necessary due to medical expenses incurred after an accident. [...]

2022-02-13T23:09:40-08:00September 7th, 2021|

Does Bankruptcy Help Stop Rent Evictions In Los Angeles? Mark J. Markus

During the COVID-19 Pandemic, landlords were prevented from evicting tenants for nonpayment of rent. Thousands of renters in Los Angeles County and across the country stopped paying rent months, and in some cases, years ago. And landlords could not do anything about it. Until now. After a recent US Supreme Court decision (pdf), that moratorium is coming to an end, and landlords will soon be able to start unlawful detainer actions to evict tenants. How To Stop An Eviction Due [...]

2022-02-09T10:55:40-08:00August 27th, 2021|

John Oliver’s Report On Why Bankruptcy Should Be Used When Necessary

Television personality and part-time comedian John Oliver recently did an important segment on bankruptcy law.   The April 18, 2021 show covered the many often misguided reasons people avoid filing bankruptcy.   It points out why bankruptcy should be used when necessary. The show admirably highlighted the benefits of bankruptcy, including getting a fresh start from your debts.   It also stated clearly that the social stigma associated with filing bankruptcy is "completely misguided." Unfortunately, the show also makes many technically correct, but [...]

2022-02-09T10:58:46-08:00May 5th, 2021|

Cryptocurrency and Bitcoin Accounts In Bankruptcy | Mark J. Markus

Over the past several years there has been increased popularity of Bitcoin and other types of "cryptocurrency." Cryptocurrency presents some unique, and also fairly traditional, issues in a bankruptcy case. How are these accounts and assets are treated in bankruptcy cases? Investing in Bitcoin and other cryptocurrency is similar to investing in stocks, bonds and mutual funds. It seems every day a new investment platform arises for this purpose.  According to collegeinvestor.com, these are the current Top 10 cryptocurrency investment [...]

2022-02-09T11:00:32-08:00April 13th, 2021|
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