Bankruptcy Law Blog

At Liviakis Law Firm, we often receive inquiries from people who are considering filing for Chapter 7 bankruptcy, but are unsure about the income restrictions. This article will shed light on the question, “Does Chapter 7 Bankruptcy have income limits?” Understanding Chapter 7 Bankruptcy Chapter 7 bankruptcy, also known as liquidation bankruptcy, is a legal…

Understanding Chapter 7 Bankruptcy for Businesses Businesses, like individuals, can find themselves in financial turmoil. One option available to companies is Chapter 7 bankruptcy, but it’s not for everyone. This article will explore the concept of Chapter 7 bankruptcy and whether it could be a viable solution for a struggling business. What Is Chapter 7…

Does Inflation Cause Bankruptcy Filings to Rise? Understanding the relationship between inflation and bankruptcy is crucial in today’s volatile financial climate. As inflation rates rise, one might wonder if there is a corresponding increase in bankruptcy filings. Let’s delve into this issue and shed some light on this complex correlation. Understanding Inflation Inflation refers to…

The Liviakis Law Firm has served the Modesto, California community for years, providing insight and counsel on various bankruptcy matters. One question we often receive concerns the implications of a debtor winning the lottery after filing for bankruptcy. This article seeks to shed light on this unique situation. Bankruptcy and Unexpected Windfalls When a debtor…

Understanding Bankruptcy: Can a Debtor Exclude Some Creditors? Bankruptcy offers a fresh start to those individuals or entities drowning in debt. It is a legal procedure that allows debtors to eliminate or repay some or all of their debts under the protection of the federal bankruptcy court. However, one question that often arises is whether…

At Liviakis Law Firm, we understand that the decision to file for bankruptcy is a significant one. It’s important to have a comprehensive understanding of the bankruptcy process before making this decision. Here are some resources where debtors can learn about bankruptcy. 1. United States Courts Website The United States Courts website is an excellent…

How To File Bankruptcy For Free: A Comprehensive Guide Bankruptcy provides a fresh start for those who are buried under unmanageable debt. However, the process can seem daunting, and the costs associated with filing for bankruptcy can be prohibitive for many. Fortunately, it’s possible to file bankruptcy for free, or at least at a minimal…

Bankruptcy can be a daunting experience, but it doesn’t have to mean the end of your dreams of homeownership. Many people wonder if they can still buy a house after filing bankruptcy. The answer is yes, but it requires careful planning and patience. Here’s how you can navigate this process. Understanding Bankruptcy Basics First, it’s…

Understanding Chapter 13 Bankruptcy Payments Chapter 13 bankruptcy is a form of debt reorganization that allows individuals to pay back their debts over a given period, typically three to five years. This arrangement is designed to help individuals get back on their feet financially by providing a manageable payment plan. However, there may be instances…

The decision to file for bankruptcy is a difficult one and often comes with significant financial stress. One of the primary factors that deter individuals from filing is the initial costs associated with a bankruptcy case. However, the Liviakis Law Firm is here to guide you on how to save up for these costs effectively.…