Property of the Estate

Admin on December 2, 2016 Posted in Blog, Chapter 7 Bankruptcy

When a debtor files for bankruptcy, he or she creates a “bankruptcy estate.” In broad terms, this estate is composed of any legal or equitable interest of the debtor in property as of the commencement of the case.  To note, the legislative history indicates that a bankruptcy filing “bring anything of value that the debtors […]

Right of Redemption in Chapter 7

Admin on September 10, 2016 Posted in Chapter 7 Bankruptcy

The U.S. Bankruptcy Code allows individual chapter 7 debtors to redeem certain tangible personal property, when such property is intended primarily for personal, family or household use, by paying the secured creditor the allowed amount of the secured claim. Congress created the right of redemption “to protect debtors against ill-advised reaffirmations and the high replacement […]

Chapter 7 Applicability

Admin on August 26, 2016 Posted in Bankruptcy Law, Chapter 7 Bankruptcy

Chapter 7 of the U.S. Bankruptcy Code provides a liquidation process for consumer debtors. It accomplishes the twin objectives of bankruptcy, providing a fresh start to the “honest but unfortunate debtor” and ensuring an equitable and ratable distribution of assets to creditors. A chapter 7 debtor enters bankruptcy with an unmanageable debt load and insufficient […]

Oakland Bankruptcy Attorney Can Explain Property Exemptions

Admin on May 26, 2016 Posted in Bankruptcy Law, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

One of the factors to consider when learning about which bankruptcy process may be right for you and your family is the type of assets you possess and whether they are considered exempt or nonexempt under the law. Your California bankruptcy attorney can examine your assets and help you determine how to proceed.   Chapter […]

When Credit Card Debts Aren’t Dischargeable in Bankruptcy

Admin on May 13, 2016 Posted in Bankruptcy Law, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy

In addition to medical bills, one of the leading causes of bankruptcy in the United States is too much consumer debt, largely from credit cards. Chapter 7 bankruptcy in particular can be extremely appealing to those with lots of credit card debt as it promises to completely discharge all credit card debt (no matter how […]

Where to File for Bankruptcy

Admin on May 6, 2016 Posted in Bankruptcy Law, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy

If you ask someone where you file for bankruptcy, they’ll probably tell you “in court.” More specifically, you file for bankruptcy in federal court. And if we’re really getting detailed here, you will file bankruptcy in the federal district in which you reside. California has four districts (Northern, Central, Southern and Eastern), with the Central […]

Eliminating Medical Bills with Bankruptcy

Admin on April 30, 2016 Posted in Bankruptcy Law, Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

One of the reasons for passing the Affordable Care Act of 2010 was to reduce health care costs and make insurance more affordable for everyone. To some extent, the ACA has been a success. Health insurance is more accessible now than at any time it has ever been in the past. Millions of people now […]

What Happens to a Car In Chapter 7 Bankruptcy?

Admin on April 19, 2016 Posted in Blog, Chapter 7 Bankruptcy

One reason that many people are hesitant to consider bankruptcy, and particularly Chapter 7 bankruptcy, is that they fear it will mean losing all of their assets. While Chapter 7 bankruptcy does involve submitting all of your assets, including vehicles, to a bankruptcy trustee so that he or she can determine what assets should be […]

Bar Exam Loans May Be Dischargeable in Bankruptcy

Admin on April 12, 2016 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Student Loans

It’s well-known that federal student loans are very difficult, if not almost impossible to discharge in either Chapter 7 or Chapter 13 bankruptcy. There is another type of education loan that is lesser known to most people that is often thought of as nondischargable in bankruptcy, but a recent decision from New York indicates this […]

Just What is a Bankruptcy Trustee?

Admin on March 23, 2016 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

When you file for Chapter 7 or Chapter 13 bankruptcy, a trustee will be appointed to your case. The trustee is typically a local attorney experienced in bankruptcy law. The function of the trustee is to represent the estate that is created when you file for bankruptcy. The trustee is not meant to be your […]