Articles Posted in Bankruptcy

For many consumers, bankruptcy may be your best option for a fresh financial start. Bankruptcy is often a solid approach for financial freedom for anyone with overwhelming debt, or whose monthly income is less than their monthly bills. In fact, approximately 1 in every 100 American households file for personal bankruptcy in some areas of…

If you are having financial trouble, the most educated step you can take is to hire a qualified attorney. The decision to file for bankruptcy is not an easy one, and one that shouldn’t be done without informed guidance. While there is plenty of information on the internet, and at the bookstore to help you…

One of the first questions asked of a Citrus Heights bankruptcy lawyer is “What do I need to bring to the initial consultation?” Filing for a California bankruptcy will require you to gather a number of different documents. These documents will help you prepare for the thorough paperwork required to file the initial Chapter 7…

Filing a bankruptcy case is not like filing a divorce case or a lawsuit. That’s because those kinds of cases are often filed in state court. State court cases are filed in county court houses. So finding your courthouse is as simple as knowing what county you live in. Most people know their county and…

A common question often asked by debtors is whether or not tax debts can be discharged in bankruptcy. Tax debts may qualify for discharge if (a) the due date for the return was three years or more before you filed bankruptcy, (b) the taxes were assessed at least 240 days prior, (c) the tax return…

California Bankruptcy exemptions are designed to protect your property from being sold by the bankruptcy trustee when filing for bankruptcy protection. Since California doesn’t allow debtors to utilize Federal bankruptcy exemptions, those filing for debt relief under the US Bankruptcy Code must decide between one of two sets of exemptions. These exemptions, commonly referred to…

Bankruptcies often land in the headlines when a big-name celebrity files for Chapter 11. We often hear of companies such as restaurants or big box retail stores in our own neighborhoods declaring bankruptcy. Even the President of the United States has owned or operated businesses that have utilized bankruptcy law to reorganize debt. So just…

You’ve planned and budgeted for your retirement and now you seem to still be falling behind in payments. Perhaps you’ve lowered your standard of living because of unforeseen medical expenses. Maybe you’re spending more on expenses like co-payments for prescription medications than you originally planned for. It’s possible that your pension has diminished from when…

For individuals unfamiliar with bankruptcy, there are numerous myths surrounding the popular form of debt relief. It’s important to know exactly what bankruptcy can and can’t do before embarking on filing for Chapter 7 or Chapter 13 bankruptcy. Because of the long-lasting financial and personal ramifications, it’s highly recommended that you consult a professional bankruptcy…

Filing a California bankruptcy requires debtors to disclose all assets. Once you have listed all assets you can then apply exemptions to certain types and values of the property. These bankruptcy exemptions protect that specific real and personal property from being lost. The 180-day rule regarding windfall receipt of assets is an integral part of…