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THE LAW OFFICE OF MARK J. MARKUS

Los Angeles California Bankruptcy Lawyer*
Practicing exclusively bankruptcy law since 1991
Free phone consults.  Office in Burbank.
*Board Certified Specialist in Bankruptcy Law

Contact Mark

Phone: 1-818-509-1173

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Small Business Bankruptcy Chapter 11, 7, 13. Do You Need An Attorney?

Should Your Business File Bankruptcy? Many businesses are failing due to the COVID-19 Pandemic, especially small businesses. Business owners are faced with the difficult decision of whether to try to save their business, or fold up and close. I get many calls each week from business owners who tell me they need to file bankruptcy, but do not understand what it does, or does not, accomplish. There are a lot of misconceptions about options businesses have in bankruptcy. This article [...]

2021-09-03T17:06:37-07:00August 29th, 2020|

How Can You Pay For And Afford A Bankruptcy Lawyer Attorney When You Have No Money?

It is an obvious dilemma. How can you afford a bankruptcy attorney when you have no money? Like anything else in law, representation by an attorney - and the quality of the attorney - can make a big difference. So what can be done to enable the hiring of a bankruptcy attorney? Chapter 7 or Chapter 13 (or Chapter 11)? For individuals, your bankruptcy chapter choices will be either Chapter 7 , Chapter 13, or Chapter 11.  Learn About The [...]

2021-07-25T18:09:31-07:00August 7th, 2020|

How Can Bankruptcy Help A Small Business During Covid-19?

The COVID-19 pandemic is wreaking havoc on small businesses. "Mom and Pop" stores and other small businesses are the most affected and least likely to survive the downturn in business. Employees are being laid off, businesses are closing, and vendors of  businesses are losing their businesses. These are difficult times to be sure. When faced with this reality,  what steps can you take to recover? Especially when the problems thrust upon you by circumstances are beyond your control. Small businesses [...]

2021-07-25T18:13:19-07:00June 8th, 2020|

Bankruptcy Can Protect CARES ACT Stimulus Check Payments From Creditors

Stimulus Check  Payments Are Not Protected From Creditors We all anxiously await the first round of Stimulus Check payments from the government. But Congress did not protect these funds from collections by Creditors. Therefore, if a creditor (someone to whom you owe money) has the right to collect from you, they can take your CARES ACT stimulus payment from your bank account (and garnish your wages and place liens on other assets). For most creditors, the ability to take money [...]

2021-07-25T18:15:39-07:00April 16th, 2020|

How Does Bankruptcy Work?

What exactly is bankruptcy? People often refer to having no money as "being bankrupt". But that is not bankruptcy. Bankruptcy is a set of laws designed for individuals and businesses (and also railroads and cities) who are unable to pay all their debts when due. What Do Bankruptcy Laws Do? The big picture:  Bankruptcy law is designed to alleviate obligations of debtors (those who owe money) balanced with the rights of creditors (those to whom money is owed) to maximize [...]

2021-07-25T18:23:15-07:00January 5th, 2020|

Can I Discharge Unlisted Debts In a No Asset Chapter 7 or Other Bankruptcy Chapters?

When you file a bankruptcy case, the main goal is usually to eliminate the obligation to repay debts. But what if you don't know everybody you owe money to? This is very typical and can result in different ways, such as: You had recent medical treatments, but have not yet received all your bills; Your debts are old and  haven't opened your mail for several years and you don't know who you owe. What happens in cases like these? Do [...]

2021-07-25T22:02:13-07:00June 9th, 2016|

Bankruptcy Repayment Plans

Many people are not aware that bankruptcy relief comes in different shapes and sizes. Most know about Chapter 7 bankruptcy:  You know, the one where you just "get rid of all your debts" without having to pay anything. Chapter 7 these days has a lot of eligibility requirements, and not everyone qualifies. And, sometimes, those that do qualify would be better served by filing a different bankruptcy chapter. Related Article: See my review of the different bankruptcy chapters. [...]

2021-07-26T14:38:09-07:00May 28th, 2015|

Do I Qualify to File Bankruptcy? How Do I Know Which Chapter To File?

You know you need to file bankruptcy.  But you are not sure if you qualify or are eligible to file. The good news is that nearly everyone qualifies to file under SOME bankruptcy chapter.    So the questions become:  Which Chapter do I qualify for and which is best for me to accomplish my goals? Each bankruptcy chapter has different qualification requirements and different costs and benefits. Here is a quick summary of the various chapters and what they mean: [...]

2021-08-19T20:39:34-07:00July 17th, 2014|

Don’t Trust Your Mortgage Company When in Foreclosure

Bankruptcy Stops Foreclosure and Allows You To  Save Your Property Bankruptcy Chapter 13 and Chapter 11  can stop a foreclosure and allow the opportunity to catch up on past due mortgage payments, do loan modifications, refinances, and more, all without having to worry about a sudden loss of ownership of your property. But, sadly, many people leave bankruptcy as a  last resort when trying to work things out with their lenders, often to the point where it's too late to [...]

2021-08-19T20:24:36-07:00April 17th, 2014|

How Bankruptcy Works – The Bankruptcy Process

What is Bankruptcy? Bankruptcy laws in the United States derive from Article One, Section 8 of the Constitution, which provides that "Congress shall have the Power. . .[t]o establish uniform laws upon the subject of bankruptcies." For the first 110 years or so of our Nation, Congress passed bankruptcy laws that were only in effect for about 15 of those years. Initially, there were debtor's prisons, and those who failed to pay their debts were thrown in jail until they [...]

2021-08-15T14:35:37-07:00October 11th, 2013|
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