Archives for 2013

Recent Ninth Circuit Decision On Divorce Settlements and Bankruptcy

wpadmin on December 23, 2013 Posted in Recent Court Decisions

A recent decision by the Bankruptcy Appellate panel of the Ninth Circuit shows how difficult it can be for a person who files bankruptcy to discharge a domestic support obligation. Often, parties to a divorce settle on division of property, spousal support, and other items in one settlement. Later, if the party making payments seeks […]

Recent Article Illustrates the Difference Between Chapter 7 and Chapter 13 Bankruptcy in Preventing a Foreclosure Sale

wpadmin on December 13, 2013 Posted in Foreclosures

For homeowners who fall behind on their mortgage payments, filing for bankruptcy can provide some relief. Both Chapter 7 Bankruptcy and Chapter 13 Bankruptcy trigger an automatic stay on the bankruptcy filer’s assets, including their home. While the automatic stay is in effect, a lender may not foreclose on the home. Prior posts on this […]

Who Can File for Chapter 7 Bankruptcy? The Chapter 7 Means Test

wpadmin on December 7, 2013 Posted in Chapter 7 Bankruptcy

Chapter 7 Bankruptcy can help people who are in financial trouble to get rid of most of or all of their debt. In a Chapter 7 Bankruptcy, unsecured debt is often discharged, but the Chapter 7 filer has the option to surrender collateral in order to discharge secured debts or to keep the collateral and […]

Pop Star Aaron Carter Files for Chapter 7 Bankruptcy for Fresh Start

wpadmin on November 30, 2013 Posted in Chapter 7 Bankruptcy

Sometimes even celebrities need a fresh start. This month, pop star Aaron Carter filed for Chapter 7 bankruptcy. Carter was formerly a child pop star, releasing his first hit single at age 9 and the popular album Aaron’s Party (Come Get It) at age 12. With three platinum albums by the age of 14, Carter […]

Recent Ninth Circuit Case Illustrates the Importance of Good Faith in a Chapter 13 Bankruptcy Plan

wpadmin on November 23, 2013 Posted in Chapter 13 Bankruptcy

A recent case from the Ninth Circuit Bankruptcy Appellate Panel illustrates the importance of good faith for a Chapter 13 Bankruptcy Plan. Good faith is an essential element for a Chapter 13 Bankruptcy filer to have their plan approved and to begin repaying their debts. Good faith is not defined in the bankruptcy code, but […]

Property Exemptions in California Bankruptcy Law

wpadmin on November 16, 2013 Posted in Bankruptcy Law, General Bankruptcy

The California bankruptcy law governing exemptions is different from that in other jurisdictions. One of the benefits of filing for bankruptcy is that it allows you to keep some property and use other property to pay off creditors. In previous posts on this blog, we have discussed how different types of bankruptcy can be used […]

Ninth Circuit Rules Automatic Stay Protects Abandoned Property

wpadmin on November 9, 2013 Posted in Bankruptcy Law

A recent decision by the Bankruptcy Appellate Panel for the Ninth Circuit Court of Appeals holds that foreclosure on property after the bankruptcy trustee has abandoned it will violate the automatic stay provisions of the bankruptcy code. In previous posts, we have discussed how automatic stays under Chapter 13 Bankruptcy can help stave off an […]

Obtaining an FHA-Insured Mortgage After Bankruptcy

wpadmin on November 2, 2013 Posted in Foreclosures

One major worry for those who file bankruptcy is that it will cause damage to their credit and prevent them from obtaining loans such as a mortgage in the future. Although bankruptcy will likely have an impact on the filer’s credit, it can still be possible to qualify for a mortgage as soon as one […]

Last Minute Transactions Foil Couple’s Effort to Discharge $3M Gambling Debt

wpadmin on October 31, 2013 Posted in Bankruptcy News

A 9th Circuit decision involving a doctor and his wife provides some important guidance on “what not to do” in terms of completing personal financial transactions shortly before filing bankruptcy. Because the couple engaged in business dealings that allowed a bankruptcy judge to find an intent to delay, defraud or hinder creditors, the couple lost […]

Court Allows Mortgage Creditor to Continue Legal Actions, Despite Homeowners’ Bankruptcy Filing

wpadmin on October 30, 2013 Posted in Bankruptcy Law

A recent 9th Circuit decision provides a noteworthy warning to homeowners considering bankruptcy. While bankruptcy may provide troubled homeowners with relief from losing their homes through foreclosure in certain situations, the bankruptcy courts are not an automatic shield. The court’s ruling in In re Alakozai demonstrates this, concluding that debtors could not use a series […]