Articles Posted in Bankruptcy

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…

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…

At Liviakis Law Firm, we understand that filing for Chapter 13 bankruptcy can be a complex and stressful process. That’s why we’re here to guide you through each step, ensuring that you avoid any pitfalls that could lead to the unexpected dismissal of your case, particularly in the Eastern District of California. Here’s a comprehensive…

When individuals find themselves in financial distress, they often turn to bankruptcy as a form of relief. However, bankruptcy isn’t as straightforward as it might initially seem, especially when assets like classic cars are involved. Let’s examine what happens to a classic car during a bankruptcy case. Bankruptcy is a legal proceeding where individuals or…

Bankruptcy can be a viable option for those overwhelmed by debt. However, one common question that many individuals have is “how many times can I file for bankruptcy?” The answer to this question depends on several factors, including the type of bankruptcy you’ve previously filed and how much time has passed since your last filing.…

Introduction Filing for bankruptcy can feel like an overwhelming process. At Liviakis Law Firm, we understand the emotional and technical challenges that come with it. The hardest part about filing bankruptcy is not a single factor but a combination of several aspects. Let’s explore these further. Understanding Bankruptcy Laws Bankruptcy laws are complex and can…

At Liviakis Law Firm, we frequently encounter clients who are uncertain about the timing of filing for bankruptcy. The question, “Should I wait to file bankruptcy?” is a common one. The answer, like many legal questions, is “it depends.” Each individual’s financial situation is unique and the decision to file bankruptcy should be carefully considered.…