Archives for 2014

Supreme Court Holds that Exempt Assets Stay That Way, Even After Fraud

wpadmin on April 14, 2014 Posted in Bankruptcy Law

On March 4, 2014, Justice Antonin Scalia delivered the Supreme Court’s opinion in Law v. Siegel, originally a bankruptcy case from the Central District of California. The Supreme Court’s decision unanimously reversed the decision of the Ninth Circuit Court of Appeals. This case is particularly interesting because it involves issues of fraud and property exemptions […]

Bankruptcy Basics – Understanding the Bankruptcy Courts

wpadmin on March 26, 2014 Posted in General Bankruptcy

For those without legal training, understanding the court system in the United States can be difficult. There are both state courts and federal courts, and each court system is comprised of many different levels of courts. Although bankruptcy filings are dealt with entirely in federal courts, the bankruptcy court system has several aspects that are […]

3-Year vs. 5-Year Payment Plan – Which Should I choose in Chapter 13 Bankruptcy

wpadmin on March 21, 2014 Posted in Chapter 13 Bankruptcy

Unlike Chapter 7 Bankruptcy, which liquidates most of a debtor’s assets in a relatively short period of time, Chapter 13 Bankruptcy allows a debtor to keep many of their assets if they are able to make payments on their debt over a period of time. This is called the Chapter 13 Payment Plan, and there […]

Using the Wildcard Exemption in Your Chapter 7 Bankruptcy

wpadmin on March 7, 2014 Posted in Chapter 7 Bankruptcy

A Chapter 7 Bankruptcy is sometimes called a “liquidation bankruptcy.” This is because Chapter 7 Bankruptcy liquidates all of a debtor’s nonexempt assets in order to pay as much of their debts as possible. However, this term can be somewhat misleading in that not all of the debtor’s property is sold in a Chapter 7 […]

Consumer Debts vs Non-Consumer Debts in Bankruptcy – What Are They and Why Does it Matter?

wpadmin on February 28, 2014 Posted in General Bankruptcy, Types of Debt in Bankruptcy

There are many different types of debts in bankruptcy. Often the difference between whether a debt is secured or unsecured can be the difference between whether a person is able to get rid of that debt in bankruptcy. Another distinction which is particularly important in Chapter 7 Bankruptcy is the distinction between debts that are […]

Ninth Circuit Rules that 180-Day Post-Petition Limit on Inclusion of Inheritance Does Not Apply to Chapter 13 Bankruptcies

wpadmin on February 21, 2014 Posted in Chapter 13 Bankruptcy

Often the focus in bankruptcy is on debt; however, persons considering filing for bankruptcy should also keep in mind any possible sources of income. Because the bankruptcy process can take several months or even years, it is possible for the debtor to come by unexpected sums of money, such as an inheritance. When this happens, […]

Bankruptcy Basics – What are the Bankruptcy Schedules?

wpadmin on February 11, 2014 Posted in General Bankruptcy

For most people who are not bankruptcy lawyers, bankruptcy is an unknown, complicated process filled with technical jargon and legal rules. Understanding some of the terms used in bankruptcy can make the process less intimidating. This post addresses important terminology surrounding some of the documents that are at the core of the bankruptcy process – […]

Bankruptcy and Credit Card Debt

wpadmin on February 3, 2014 Posted in General Bankruptcy

One of the most common ways for people to get into financial trouble is by accumulating too much credit card debt. Credit card debt can result from unexpected necessary expenditures, such as medical bills or car repairs, or it can be the result of poor credit management. This year’s State of Credit Report by the […]

Ninth Circuit Court of Appeals Applies Narrow Interpretation to Discharge Exception for Domestic Support Obligations

wpadmin on January 27, 2014 Posted in Recent Court Decisions

Chapter 7 Bankruptcy can help debtors to reduce their debt by discharging unsecured debts. An unsecured debt is a debt that does not have an accompanying interest in property. However, certain types of unsecured debts, such as domestic support obligations and payments to former spouses, are exempt from discharge under the U.S. Bankruptcy Code. This […]

U.S. Supreme Court Hears Case on Limits of Bankruptcy Judges’ Powers

wpadmin on January 20, 2014 Posted in Bankruptcy Law

On January 14th, 2014, the U.S. Supreme Court heard oral arguments in Executive Benefits Insurance Agency v. Arkison. Because it is being appealed out of the Ninth Circuit, this case is being closely watched by Bay Area Bankruptcy Attorneys, and the Court’s decision could significantly change the role of Bankruptcy Courts. Executive Benefits follows the […]