Bankruptcy Law Blog

Understanding Bankruptcy and its Legal Implications Bankruptcy is a legal process that allows individuals or businesses to eliminate or repay some or all of their debts under the protection of the federal bankruptcy court. The objective is to give these entities a fresh financial start. However, the complexity of bankruptcy laws and the potential consequences…

The idea of paying for a bankruptcy lawyer when you’re already struggling financially can seem daunting. However, there are several methods that can make it possible. This article will outline some of these options and provide you with useful information to help you navigate this challenging situation. Paying with Installments Many bankruptcy lawyers understand that…

Understanding Bankruptcy: How Much Debt Makes it Worthwhile? Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. While it is often seen as a last resort, it can be a viable option for those drowning in debt. However, the question often arises, how much debt…

Should You Hire a Bankruptcy Lawyer? Bankruptcy is a legal process that helps individuals or businesses struggling with debts to get a fresh start. However, the process can be complex, and many people wonder if they should hire a bankruptcy lawyer to guide them. There are numerous benefits to doing so, as well as some…

The Sacramento Bankruptcy Court, located in the heart of California’s capital city, is a federal court where individuals and businesses can file for bankruptcy. It is part of the United States District Court for the Eastern District of California, which serves a large geographic area spanning from the Oregon border to Bakersfield. This article will…

The bankruptcy process is complex and often intimidating, especially for those unfamiliar with its intricacies. One particular aspect that might raise concerns is the Creditors’ Meeting, also known as the 341 Meeting. In the Eastern District of California, where Liviakis Law Firm operates, these meetings are handled in a specific manner. The 341 Meeting is…

Chapter 13 bankruptcy is a debt repayment plan that allows debtors to reorganize their financial obligations and pay off their debt over a three to five year period. However, life is unpredictable, and circumstances can change dramatically during this time. If a debtor’s financial situation changes significantly, they may need to modify their Chapter 13…

Mortgage companies file claims with deficiency amounts based on escrow shortage in Chapter 13 cases due to a variety of reasons. A primary reason is that these companies are trying to recoup any losses they may have experienced from the debtor. The deficiency amount is based on the difference between the mortgage balance and the…

Many people find themselves falling into the trap of only making the minimum payments on their credit cards. This might seem like a smart move, as it allows for more cash flow in the short term. However, only making these minimum payments can lead to long-term financial problems. The main issue is that a large…

Deciding between a debt relief program and bankruptcy is a crucial decision that can significantly impact your financial future. Therefore, it’s important to consult with a legal professional like one from Liviakis Law Firm. Here are 20 essential questions you should ask a bankruptcy attorney in Sacramento, CA to help determine the best path forward:…