Articles Posted in Bankruptcy

What Can Bankruptcy Do for Me?
Liviakis Law Firm Team

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…

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The 180 Day Rule in Bankruptcy
Liviakis Law Firm Team

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…

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Bankruptcy After Divorce: California
Liviakis Law Firm Team

Bankruptcy and divorce may seem like odd bedfellows, however traversing a divorce is often financially straining. Divorce is actually one of the primary reasons for individuals filing bankruptcy in California. When dividing property, children, homes, and businesses the complexity increases the total bill. Additionally, if there are disagreements about the division of property, the family…

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What Happens in Bankruptcy Court?
Liviakis Law Firm Team

Attending court, for many individuals, is a highly stressful event. The primary reason for the anxiety associated with appearing in bankruptcy court, or any other court hearing, derives from the uncertainty of the outcome. Hopefully, additional information about what usually happens in bankruptcy court can curb some of the angst associated with using the US…

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Can I object to a debt in Bankruptcy?
Liviakis Law Firm Team

When filing bankruptcy, your bankruptcy attorney will explain the filing process which includes filling out a list of creditors and the amount of debt that you owe them. The bankruptcy court will notify your creditors that you have filed bankruptcy and let them know what they need to do in order for the bankruptcy court…

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Can I Stop a Lawsuit by Filing Bankruptcy?
Liviakis Law Firm Team

Having to face a lawsuit is by far one of the most stressful things a person can endure. By filing for bankruptcy protection, you are automatically given what is called an “automatic stay” which legally stops creditors from collection activities, including lawsuits which they are pursuing against you. Stop Debt Lawsuits The automatic stay prevents…

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Advantages of Filing Bankruptcy
Liviakis Law Firm Team

Bankruptcy is a legal procedure which allows individuals, businesses, and even government entities to eliminate debt with the protection of the federal bankruptcy court. A bankruptcy case is filed under one of the chapter of title 11 of the United States Code, or more specifically, the U.S. Bankruptcy Code. For individuals, most bankruptcies fall under…

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