Bankruptcy Lawyer in California: Understanding the Impact of Personal Injury Cases Personal injury cases often lead to one party paying out and the other party getting paid. If either of those parties files for bankruptcy in California during or after the personal injury case, it can have a serious impact on the outcome. Whether you…
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Bankruptcy Lawyer in California: Understanding the Impact of Divorce If you and your spouse are considering filing for bankruptcy and divorce in California, the parallel processes can be tricky as much as they can be detrimental to your unique situation. Several factors must be taken into consideration. Timing is important and can affect the complexity,…
Continue reading ›Bankruptcy Lawyer in California: Understanding Secured and Unsecured Debt A misconception exists that when you file for bankruptcy in California, all of your debt is discharged. Though anyone suffering from financial hardship would prefer to have a clean slate to get back on their feet, it is not always the case. Much of what debt…
Continue reading ›When you get behind on paying back a debt, a creditor can try to collect on it in a number of ways. If you’re in this situation, then you may already be aware of the initial way creditors try to collect. They try to contact you directly, repeatedly. The creditor may call, text, email, or mail…
Continue reading ›First, make sure you understand what a reaffirmation agreement is. Check out our Blog titled, “What is a reaffirmation agreement?” Signing a reaffirmation agreement has serious implications so it’s wise to consider all of your options before entering into a reaffirmation agreement. Reaffirmation agreements are voluntary and are not required to keep possession of a…
Continue reading ›Put simply, a reaffirmation agreement is where you agree to pay a debt even though you could have eliminated the debt in your bankruptcy case. Reaffirmation agreements are used in relation to secured debts – where the creditor issues a loan backed by collateral, such as a car loan. Normally, after your debts are discharged…
Continue reading ›Some people don’t think they need an experienced attorney because they believe that their case is simple or that they have nothing to lose. That is where the trouble begins. There is more to the bankruptcy process than just completing paperwork, and you don’t know what you don’t know, so it would be close to…
Continue reading ›In bankruptcy, discharge is a legal term that refers to a court order that releases a debtor from personal liability for certain types of debts. This means that the debtor is no longer legally required to pay these debts, and creditors are prohibited from taking any further action to collect them. The discharge is a…
Continue reading ›Subchapter 5 is a part of the Bankruptcy Code that was added in 2019 as part of the Small Business Reorganization Act (SBRA). It is a streamlined bankruptcy process designed specifically for small businesses with debts of up to $7,500,000. The debt limit on this will likely change over time. Subchapter 5 bankruptcy has similarities…
Continue reading ›The right question is not necessarily when you can file, but when can you file and get a bankruptcy discharge. Discharge is the operative word. The ability to file and obtain a discharge depends on several factors, including the type of bankruptcy previously filed, the length of time that has passed since the previous filing,…
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