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|

New California Homestead Exemption Increased For Bankruptcy Cases

What Is A Homestead Exemption? A huge concern for those who need to file bankruptcy is whether they will lose their home. [pullquote]See More On Exemptions In Bankruptcy[/pullquote] Every state has "exemptions" which protect the homestead (where one resides) up to a certain value. Until now, California's homestead exemptions were relatively low compared to other states. People filing bankruptcy often could not do a Chapter 7 case because they could not protect enough equity in their home. And the bankruptcy [...]

2022-02-09T11:04:24-08:00September 19th, 2020|

California Homestead Exemption Set To Change For Bankruptcy Per AB 1885

California Homestead Exemption Will Increase In January 2021 On September 2, 2020 the California legislature passed AB 1885 (and SB 832) which will substantially increase California's homestead exemption. This is a very important change and will enable many homeowners to eliminate their debts in bankruptcy without having to lose their homes to do so. The current homestead exemption, under CCP 704.730,  ranges between $75,000 to $175,000 and depends on whether you are single, married, over 65 or disabled, or with [...]

2022-02-09T11:03:21-08:00September 5th, 2020|

Why Bankruptcy Trustees Prefer You To File Without An Attorney

Chapter 7 Bankruptcy Trustees Make Money Selling Assets Bankruptcy trustees are in business to make money. Most knowledgeable sources recommend against people filing  bankruptcy cases without an attorney. But not Chapter 7 bankruptcy trustees. I recently attended a panel of some Chapter 7 Trustees who quite honestly admitted this fact. And why do they prefer this? Because trustees make more money when the party filing bankruptcy (debtor) has no legal representation. What Do Bankruptcy Trustees Do? In Chapter 7, a [...]

2021-07-25T21:51:14-07:00November 1st, 2016|
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