Archives for 2017

Adequate Protection

Admin on December 24, 2017 Posted in Bankruptcy Law, Blog

The Fifth Amendment to the United States Constitution provides: “No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a grand jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war […]

Downward Trend in Bankruptcy Filings

Admin on December 16, 2017 Posted in Bankruptcy News, Blog

Government statistics regarding bankruptcy filings demonstrate an interesting trend. The trend shows a four-year downward direction and an overall downward trajectory. This table represents filings between 2014 and 2017: Year Total Bankruptcy Filings Business Bankruptcy Filings Consumer (Personal) Bankruptcy Filings 2017 796,037 23,443 772,594 2016 819,159 25,227 793,932 2015 879,736 25,046 854,690 2014 1,000,083 30,113 […]

Reaffirmation Agreement

Admin on November 17, 2017 Posted in Bankruptcy Law, Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

There are features of Chapter 7 bankruptcy and Chapter 13 bankruptcy that are similar and some that are quite different. A significant similarity is the automatic stay under Section 362 of the United States Bankruptcy Code, or Code, wherein a bankruptcy filing stays, or stops, creditors from taking collection action against the debtor. When this […]

Criminal Restitution

Admin on November 10, 2017 Posted in Blog

Imagine that two people decide to join forces in a business venture. Person A, who owns a small construction firm, will join Person B, who is a wealthy investor, in trying to obtain exclusive construction contracts with various municipalities around Northern California. Both sides view this business venture as mutually beneficial. Person A will be […]

Chapter 12 Bankruptcy

Admin on November 3, 2017 Posted in Bankruptcy Law, Blog, Communities Served

America has a long history of people working the land. In the 1939 book “The Grapes of Wrath” by John Steinbeck portrays the Joads, a family living in the dustbowl in Oklahoma during the Great Depression. To get away from the rampant destitution in their home town, they decide to travel to California in search […]

Divorce and Bankruptcy

Admin on October 26, 2017 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

Financial stress can take a toll on relationships. Those in the Bay area may remember a time when, typically, the husband worked a 9-5 job while the wife stayed at home and took care of the children and the house. They would go on family outings on weekends year round. Women who worked often provided […]

Foreclosure Strategy

Admin on September 15, 2017 Posted in Blog, Foreclosures

The Great Recession hit the United States hard. It especially hit the state of California, where one out of 88 houses were in some form of foreclosure. Banks faced an unprecedented number of foreclosures, while consumers saw their home values drop precipitously, with many home values going underwater. This created a frenzy amongst lenders while […]

Undue Hardship and Student Loans

Admin on September 8, 2017 Posted in Blog, Student Loans

Imagine that a boy grows up watching lawyer shows like Perry Mason, L.A. Law, and Law and Order. He is intrigued by what lawyers do, especially trial lawyers. After years of watching, he is enamored. He has dreams of becoming a prosecutor or a defense attorney. He will appear before a judge and jury and […]

Items of Personalty

Admin on August 31, 2017 Posted in Blog, Chapter 7 Bankruptcy

People fall deep into debt for many reasons. It could be due to a loss of income, miscalculating future income, improper spending habits, or major life event. To provide a fresh start, the founding fathers created the bankruptcy clause in the Constitution. The bankruptcy concept was further developed over the years to include various chapters […]

Student Loan Debt

Admin on August 6, 2017 Posted in Blog, Chapter 13 Bankruptcy, Student Loans

Many Americans carry significant student loan debt. In the beginning of 2017, there were 44 million people in the United States holding over $1.4 trillion in student loan debt. This number is greater than credit card debt by $620 billion. This is a 6% increase over 2016. What is more, there is a delinquency rate […]