Bankruptcy Law Blog

A recent survey by CareerBuilder showed that over 75% of households in America are living paycheck-to-paycheck. This issue, exacerbated by overspending, is potentially dangerous especially without an emergency savings account or line of credit. The report highlights an overreaching problem for Americans that we spend everything we earn and then more through going into debt.…

A personal guarantee is an agreement to make oneself personally liable for a debt to a lender. These are often used by small business owners to secure lines of credit by putting up their personal assets to repay the loan. Personal guarantees play an important role in small business in America. Many banks understand that…

Bankruptcy lawyers in Sacramento California are most commonly asked how an individual can qualify for Chapter 7 bankruptcy and what qualifications or standards need to be met in order to file. Determining who can file for bankruptcy can be complicated and so seeking out a Sacramento bankruptcy attorney can ensure that this step in the…

The US Trustee assigned to the Chapter 11 Bankruptcy protection case for Global Brokerage Inc. raised concerns this week about the exchange broker’s bankruptcy reorganization plan. Global Brokerage Inc., is a holding company with indirect effective ownership of Forex Capital Markets (FXCM), which is a retail foreign exchange broker. The company filed a voluntary petition…

The previous 24 months has been a tough one for retailers with a high brick-and-mortar footprint. No less than 21 major brand name companies with traditional retail models filed voluntary petitions for Chapter 11 bankruptcy protection under the US Bankruptcy Code breaking a record previously set in 2008 during the housing crisis. Additionally, 6,700 stores…

What happens to rental property in bankruptcy, like most facets of bankruptcy law, depends on whether you file Chapter 7 bankruptcy or Chapter 13 bankruptcy. Furthermore, the state in which you file bankruptcy, the amount of debt you have, and the amount of equity you have in all your properties will affect what happens to…

Much of the negative feeling towards bankruptcy revolves around not knowing what will happen if you file chapter 7 or chapter 13 bankruptcy. As a result, one of the biggest questions surrounding the issue of whether or not to file bankruptcy in Sacramento California is what happens to investments during bankruptcy. The answer depends on…

A Chapter 7 bankruptcy case is typically the quickest and simplest type of bankruptcy in Sacramento. After filing bankruptcy, you can typically expect to have your eligible debts discharged within four to six months. A few things that can slow down your Chapter 7 bankruptcy discharge are additional documentation requests from the trustee, if the…

A typical question we hear revolves around credit card usage before bankruptcy. Specifically, individuals want to know how using a credit card with the months leading up to filing for bankruptcy protection can affect the filer’s ability to discharge the debt. This is something that is very strongly discouraged as getting cash advances from credit…

When you file for bankruptcy protection, the U.S. Bankruptcy Court will assign a bankruptcy trustee to your bankruptcy case. Bankruptcy trustees are an important function of your bankruptcy, and according to many bankruptcy attorneys in California, your success in having your debts discharged lies firmly in the lap of your bankruptcy trustee. The bankruptcy trustee’s…