Tag Archives: Chapter 7 Bankruptcy

How the National Mortgage Settlement May Help California Homeowners and Those Who Have Lost Their Homes

Since long before the beginning of the current economic downturn, we have counseled hundreds of individuals and families seeking information about filing personal bankruptcy in the Bay Area. But since this recession began, those seeking bankruptcy advice have likewise needed advice on how they might be able to avoid foreclosure, modify their home loans, or […]

Posted in Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Foreclosure, Loan Modification | Also tagged , , , | Comments closed

Reversing Fraudulent Transfers Before Filing Bankruptcy in San Jose

Several weeks ago I posted a piece on this blog outlining what constitutes a “fraudulent transfer” prior to filing bankruptcy and the disastrous consequences such transfers create for the debtor in bankruptcy. Most commonly in the consumer bankruptcy context, a fraudulent transfer occurs when, prior to filing bankruptcy, one transfers an asset to someone else […]

Posted in Bankruptcy Basics, Bankruptcy Discharge, Bankruptcy in General, Chapter 7 Bankruptcy, Chapter 7 Trustee, Fraudulent Transfers | Also tagged , , | Comments closed

How to Place a Value on Your Assets in Chapter 7 Bankruptcy (or in Chapter 13 for That Matter)

Often prospective clients come to our San Jose offices for a free bankruptcy consultation armed with legal “expertise” they have garnered from sites pertaining to bankruptcy all over the internet. One of the principle fears that these folks convey to me is the idea that if they file Chapter 7 bankruptcy, they will lose everything […]

Posted in Bankruptcy Basics, Bankruptcy Exemptions, Chapter 7 Bankruptcy | Also tagged , | Comments closed

What Is the Difference Between Avoiding a Junior Mortgage Lien and Discharging a Mortgage Loan in California Bankruptcy?

Depending on whether they are eligible for Chapter 7 bankruptcy or Chapter 13, homeowners who file bankruptcy in California with more than one loan secured by a deed of trust (which include home equity lines) may get very different types of debt relief when it comes to their second mortgage. Upon obtaining a bankruptcy discharge […]

Posted in Bankruptcy Discharge, Chapter 13 Bankruptcy, Chapter 13 Lien Stripping, Chapter 7 Bankruptcy | Also tagged , , , , | Comments closed

Can Income Tax Debts Be Discharged in a Chapter 7 Bankruptcy in California?

Today is April 15, and while taxpayers get two additional days to file their income tax returns this year, today presents the perfect opportunity to discuss one of the most vexing issues in consumer bankruptcy—whether or not taxes can be discharged in bankruptcy. The short answer is that while most tax debts cannot be discharged […]

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Why You Should Never Give Away Assets Before Filing Bankruptcy

My firm offers hundreds of free bankruptcy consultations in San Jose every year, and in doing so, we’ve seen just about everything. When I review a potential bankruptcy case and the topic turns to what assets the debtor has, I’ve lost count how many times I’ve been asked, “can’t I just give this car to […]

Posted in Bankruptcy Discharge, Bankruptcy in General, Chapter 7 Bankruptcy, Fraudulent Transfers | Also tagged , , | Comments closed

Finally Found a Job? Now May Be The Best Time to File Bankruptcy

As the recession has worn on, prolonged economic hardship has sometimes led people to feel that even bankruptcy will not offer much immediate relief. In the last year, I’ve met with an increasing number of folks considering filing bankruptcy in San Jose, who decide to put off filing despite their eligibility for Chapter 7 bankruptcy […]

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Can I Get a Waiver of the Court’s Filing Fee if I File Chapter 7 Bankruptcy in San Jose?

The Bankruptcy Court’s filing fee for Chapter 7 cases, which is currently set at $306, can be waived by the court pursuant to 28 U.S.C. §1930(f). However, whether or not a debtor filing Chapter 7 bankruptcy in San Jose will be granted a fee waiver depends not only on the debtor’s ability to prove that he […]

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Do I Need to Answer a Lawsuit if I’ve Decided to File Bankruptcy in California?

As with so many other questions pertaining to bankruptcy law, the best answer to the question of whether a person intending to file bankruptcy must file an Answer to a new civil suit is: “it depends.” I am often asked by the prospective client considering filing personal bankruptcy whether he should first go ahead and […]

Posted in Automatic Stay, Chapter 7 Bankruptcy, Judicial Liens | Also tagged , , | Comments closed