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2 weeks 6 days ago

If you’re thinking of filing for bankruptcy, take the advice of an experience, bankruptcy attorney. Be honest, truthful, open and revealing when dealing with your bankruptcy lawyer. If you have assets that are going to be unprotected, your lawyer will advise you with regard to those assets. If you have made transfers that could be+ Read More
The post Full Disclosure Always Best In Bankruptcy appeared first on David M. Siegel.


3 weeks 13 hours ago

Wynn at Law, LLC is frequently on the lookout for its clients when it comes to their two largest investments: The retirement nest egg, and the family home. We’ll talk about the nest egg, wills, estates, and wealth transfer several times in the coming weeks. However, this week I’ve noticed how low real estate inventory is in southeast Wisconsin, so let’s cover what that means for the legal rights of buyers and sellers.
Low inventory means it is a seller’s market and that’s excellent news if you have a property to market. Typically bidding favors you:  It’s supply and demand. However, deals can still be found for buyers in the market today. The key on either side of the transaction is an effective attorney, and here are five reasons why.
1) Offers need speedy attention during a low-inventory cycle. No buyer should make one, no seller should accept one, without a legal review. Real estate agents all know attorneys for this reason. (Did you know you can choose your own instead?) Without an experienced real estate attorney in a buyer’s corner, it gives time for other buyers to enter the bidding.
2) Home sellers are more inclined to go For Sale By Owner (FSBO) when the inventory is light. Their theory is that real estate agents add value when there is a glut of homes on the market. In my opinion, the theory is a little over-simplified, but to each, their own. A buyer’s attorney makes sure the transaction represents the buyer’s best interests… the FSBO seller’s attorney ensures the seller’s rights are protected in the face of mortgage lenders and the legal transfer of the deed.
3) A seller’s market often triggers buyers to take on properties as-is or with minimal improvement in order to beat other buyers to the table. Wynn at Law, LLC sees several lake properties a year that fall into this category in buyer’s markets, too. A buyer’s attorney makes sure the client doesn’t get in over his or her legal head.
4) Time is a recurring theme here. The attorneys coordinate the closing to encompass every detail in one sitting. A missing deed or inspection will impact the mortgage which will impact the deal.
Know how many initials and signatures are involved in the transaction? Dozens. All are binding. It seems monotonous. It can also seem threatening. Attorneys add value by taking emotion out of a big investment and scrutinizing every detail, which saves time, money… or both in a seller’s market.
 
*The content and material in this original post is for informational purposes only and does not constitute legal advice.

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1 week 1 day ago

Wynn at Law, LLC is frequently on the lookout for its clients when it comes to their two largest investments: The retirement nest egg, and the family home. We’ll talk about the nest egg, wills, estates, and wealth transfer several times in the coming weeks. However, this week I’ve noticed how low real estate inventory is in southeast Wisconsin, so let’s cover what that means for the legal rights of buyers and sellers.
Low inventory means it is a seller’s market and that’s excellent news if you have a property to market. Typically bidding favors you:  It’s supply and demand. However, deals can still be found for buyers in the market today. The key on either side of the transaction is an effective attorney, and here are five reasons why.
1) Offers need speedy attention during a low-inventory cycle. No buyer should make one, no seller should accept one, without a legal review. Real estate agents all know attorneys for this reason. (Did you know you can choose your own instead?) Without an experienced real estate attorney in a buyer’s corner, it gives time for other buyers to enter the bidding.
2) Home sellers are more inclined to go For Sale By Owner (FSBO) when the inventory is light. Their theory is that real estate agents add value when there is a glut of homes on the market. In my opinion, the theory is a little over-simplified, but to each, their own. A buyer’s attorney makes sure the transaction represents the buyer’s best interests… the FSBO seller’s attorney ensures the seller’s rights are protected in the face of mortgage lenders and the legal transfer of the deed.
3) A seller’s market often triggers buyers to take on properties as-is or with minimal improvement in order to beat other buyers to the table. Wynn at Law, LLC sees several lake properties a year that fall into this category in buyer’s markets, too. A buyer’s attorney makes sure the client doesn’t get in over his or her legal head.
4) Time is a recurring theme here. The attorneys coordinate the closing to encompass every detail in one sitting. A missing deed or inspection will impact the mortgage which will impact the deal.
Know how many initials and signatures are involved in the transaction? Dozens. All are binding. It seems monotonous. It can also seem threatening. Attorneys add value by taking emotion out of a big investment and scrutinizing every detail, which saves time, money… or both in a seller’s market.
 
*The content and material in this original post is for informational purposes only and does not constitute legal advice.
Photo by Alex Raths, used with permission.
The post Enlist an ally in a seller’s real estate market appeared first on Wynn at Law, LLC.



3 weeks 5 days ago

After Bankruptcy: Tammy Gets A Car Loan at 4.48% The same week that her bankruptcy was discharged, Tammy got a car loan at 4.48%.  Now I sure don’t suggest trying to buy a car the same week your bankruptcy is over. But Tammy had no choice. Three weeks before her car was totaled in a […]The post Tammy Gets A Car Loan at 4.48% by Robert Weed appeared first on Robert Weed.


3 weeks 6 days ago

Also known as the 341 hearing or 341 meeting, the meeting of creditors is an important stage of the California bankruptcy process in both Chapter 7 and Chapter 13 cases.  Our Roseville bankruptcy attorneys explain how the meeting of creditors fits into the bankruptcy timeline in both chapters, including how long into a bankruptcy case the meeting of creditors occurs, and how long it takes for a bankruptcy discharge after the 341 hearing has concluded.

How Long Into a Bankruptcy Case Does the 341 Hearing (Meeting of Creditors) Happen?
roseville bankruptcy attorneys
Regardless of whether you file for Chapter 7 or Chapter 13 in California, the meeting of creditors will occur between three weeks and two months of the date on which your petition is filed.  However, there are slight timing differences.
If you declare Chapter 7, the 341 hearing will be scheduled to take place on a date between 21 and 40 days of the date on which you filed for bankruptcy.  If you file for Chapter 13, the meeting of creditors will take place between 21 and 50 days of your filing date.
After the 341 Meeting, How Long Until Discharge?
Like many matters in bankruptcy, the answer to this question depends heavily on whether the debtor has filed for Chapter 7 or Chapter 13.
If a debtor files for Chapter 7 in Folsom, Sacramento, or other areas of California, the meeting of creditors will occur 21 to 40 days after the case is filed.  If the trustee determines that the debtor has supplied adequate and accurate information and has no follow-up questions to resolve, the meeting process ends, and the debtor will not be required to attend any further meetings with the trustee.  However, there is one more step to the process: the debtor’s creditors are granted a 60-day period in which to object to object to the case being discharged.  Therefore, a minimum of about two months must pass between the meeting of creditors and the Chapter 7 bankruptcy discharge.
If the debtor’s creditors do not wish to dispute the discharge, the case should come to a successful conclusion, provided the debtor has followed all of the rules set by the bankruptcy court.  Though the precise timeline of each case varies depending on its complexity, the overall Chapter 7 process typically takes anywhere from four to six months from start to finish.
sacramento bankruptcy attorney
The Chapter 13 timeline looks very different, because unlike Chapter 7 cases, which generally conclude within half a year or less, Chapter 13 cases last anywhere from three to five years.  This is due to the reorganization plan around which all Chapter 13 bankruptcies are built.  The reorganization plan spreads manageable payments over a period of 36 to 60 months, depending on the debtor’s debts and disposable income.
A Chapter 13 bankruptcy in Folsom or other parts of California will take at least three years to conclude, and the meeting of creditors will be scheduled to occur, at the latest, within 50 days of the date on which the bankruptcy petition is filed.  Therefore, about two years and 315 days, or roughly 10.5 months, will elapse at minimum between the meeting of creditors and the ultimate Chapter 13 discharge.  Keep in mind that, as is true of a Chapter 7 case, the trustee in a Chapter 13 case may continue the meeting of creditors if he or she determines that additional documentation is necessary.
Additionally, it is critical that debtors in both Chapter 7 and Chapter 13 cases remember to fulfill the pre-discharge debtor education requirement of bankruptcy.  Debtor education is a mandatory course all debtors must take through an agency which has been approved by the Department of Justice.  Numerous online debtor education options are available, typically for prices ranging between about $15 and $40.
California Bankruptcy Lawyers in Roseville and Sacramento
The Roseville Chapter 7 lawyers of The Bankruptcy Group can help determine whether bankruptcy is right for you, which chapter is appropriate to file under, which set of exemptions to use, how to time your bankruptcy filing advantageously, and provide answers to other important bankruptcy questions while protecting your rights, handling your legal documentation, and advising you of your options and responsibilities.  Our Chapter 13 attorneys in Roseville, Sacramento, and Folsom are highly experienced, and, regardless of whether you wish to file individually or jointly with your spouse, can make a detailed assessment of your financial goals and resources to develop an efficient and practical bankruptcy plan to regain control of your finances.
With quality legal representation on your side, declaring bankruptcy doesn’t have to be stressful.  Let The Bankruptcy Group help make the bankruptcy process simple and convenient for you.  Call our law offices at (800) 920-5351 today to discuss your California bankruptcy options in a free and confidential consultation.
The post How Long Does it Take for a Bankruptcy Discharge After the Meeting of Creditors? appeared first on The Bankruptcy Group, P.C..


4 weeks 11 hours ago

Wynn at Law, LLC sees a wide variety of bankruptcy clients. Young families and retirees. Executives and hourly wage earners. Men and women, with or without spouses. The common thread through our entire family of clients is that – when it comes to bankruptcy – managing finances became a problem. It may have been suddenly. It may be long in the making. Either way, credit counseling is an important required part of the path that most find beneficial.
Pre-bankruptcy credit counseling became a requirement as a result of The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Twelve years ago and just three years before a recession brought a steady stream of bankruptcy filings. The significant reform of the bankruptcy system was passed by Congress and signed into law by President Bush and created tighter eligibility requirements. Because of that Act, most people filing for bankruptcy now undergo credit counseling in a government-approved program. Wait, there’s more. After the conclusion of bankruptcy proceedings, but before any debt can be discharged, debtors also participate in a government-approved post-bankruptcy financial management education program.
Don’t let the label ‘government-approved’ scare you off: These programs are harmless. You can find out which agencies have been approved for our area just by giving us a call.
Pre-bankruptcy counseling was put into place in 2005 to potentially steer people out of the courts if a repayment plan would work instead of filing. Counseling is required even if it’s obvious a repayment plan won’t work. Usually, by the time you’ve called Wynn at Law, you’ve already discovered your debts are too high and your income is too low.
The pre- and post-bankruptcy programs don’t shame you into submission. On the contrary, another set of eyes takes an impartial look at your situation in the pre-bankruptcy course. You might learn from your missteps. The second of the two required programs gives you solid financial management practices that will keep you from facing unmanageable debt again. That just makes sense: As much as Wynn at Law values your business, it’s a good thing when we don’t have repeat bankruptcy customers.
 
*The content and material in this original post is for informational purposes only and does not constitute legal advice.

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1 week 1 day ago

Wynn at Law, LLC sees a wide variety of bankruptcy clients. Young families and retirees. Executives and hourly wage earners. Men and women, with or without spouses. The common thread through our entire family of clients is that – when it comes to bankruptcy – managing finances became a problem. It may have been suddenly. It may be long in the making. Either way, credit counseling is an important required part of the path that most find beneficial.
Pre-bankruptcy credit counseling became a requirement as a result of The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Twelve years ago and just three years before a recession brought a steady stream of bankruptcy filings. The significant reform of the bankruptcy system was passed by Congress and signed into law by President Bush and created tighter eligibility requirements. Because of that Act, most people filing for bankruptcy now undergo credit counseling in a government-approved program. Wait, there’s more. After the conclusion of bankruptcy proceedings, but before any debt can be discharged, debtors also participate in a government-approved post-bankruptcy financial management education program.
Don’t let the label ‘government-approved’ scare you off: These programs are harmless. You can find out which agencies have been approved for our area just by giving us a call.
Pre-bankruptcy counseling was put into place in 2005 to potentially steer people out of the courts if a repayment plan would work instead of filing. Counseling is required even if it’s obvious a repayment plan won’t work. Usually, by the time you’ve called Wynn at Law, you’ve already discovered your debts are too high and your income is too low.
The pre- and post-bankruptcy programs don’t shame you into submission. On the contrary, another set of eyes takes an impartial look at your situation in the pre-bankruptcy course. You might learn from your missteps. The second of the two required programs gives you solid financial management practices that will keep you from facing unmanageable debt again. That just makes sense: As much as Wynn at Law values your business, it’s a good thing when we don’t have repeat bankruptcy customers.
 
*The content and material in this original post is for informational purposes only and does not constitute legal advice.
The post Credit counseling makes sense now more than ever appeared first on Wynn at Law, LLC.



1 month 2 hours ago

3 Options Regarding Financed Cars When a person files for chapter 7 bankruptcy relief and they have a financed vehicle, the debtor has three options with regard to that secured debt. The debtor can reaffirm the debt on the vehicle, redeem the debt on the vehicle or surrender the vehicle in full satisfaction of the+ Read More
The post Auto Lender Moved Too Fast To Repossess In An Open Chapter 7 Bankruptcy Case appeared first on David M. Siegel.


1 month 9 hours ago

One of the first questions people often ask when they contact a Roseville bankruptcy lawyer is which debts bankruptcy can eliminate in California.  This article reviews whether different chapters of bankruptcy, including Chapter 7 and Chapter 13, can get rid of court fees and fines owed to the U.S. government by filers.

What Does it Mean if a Debt is Dischargeable?
bankruptcy lawyers sacramento
Debts are divided into several categories when filing for bankruptcy in California.  For example, some debts are deemed “dischargeable” while others are classified as “non-dischargeable” debts.
Put simply, a dischargeable debt is a debt which the filer will no longer be liable for when the bankruptcy is discharged by the bankruptcy court.  Conversely, a non-dischargeable debt is a debt that will remain with the filer even after the bankruptcy case is over.  Unlike dischargeable debts, which are effectively wiped out, non-dischargeable debts must be paid regardless of a bankruptcy case’s successful completion.
Are Court Fees and Government Fines Dischargeable in Bankruptcy?
Generally speaking, many court fees are non-dischargeable in Chapter 7 bankruptcy, which means they cannot be wiped out by the discharge.  By comparison, Chapter 13 gives the filer time to pay off a greater array of court-related debts over the course of the three- to five-year plan of reorganization, but requires that such debts be paid in full.
Overall, the Chapter 13 discharge is more expansive than the Chapter 7 discharge, and allows a greater variety of debts to be discharged — including debts arising from a variety of penalties and fines.  To provide a few examples, the following fees and fines are dischargeable in Chapter 13, but not Chapter 7 bankruptcy:

  • Debts arising from malicious, willful property damage (but not bodily injury — for example, injury or death related to DUI)
  • Debts arising from divorce proceedings, such as property settlements

Unlike Chapter 7 bankruptcy, Chapter 13 can also create for filers an opportunity to discharge government fines and court fees such as unpaid bridge tolls, building code violation fines, and parking tickets.  However, even with the broad discharge afforded by Chapter 13 bankruptcy in California, there are still certain court judgments which cannot be discharged under any circumstances.  For example, regardless of whether an individual files for Chapter 7 or Chapter 13 bankruptcy, he or she will not be able to discharge debts arising from court-ordered alimony payments and/or child support payments.
Discharging Income Tax Debt in Chapter 13 and Chapter 7
roseville bankruptcy attorney
Income tax-related debts are subject to a few unique regulations in bankruptcy cases.  In Chapter 13 and Chapter 7, income tax obligations may be eligible for discharge if certain criteria are satisfied.  A debt related to income tax may be discharged in Chapter 13 or Chapter 7 in California if the following conditions are met:

  1.  The taxpayer did not commit fraud or tax evasion.
  2. The tax return was filed a minimum of two years before the debtor filed for bankruptcy.
  3. The tax return was due a minimum of three years before the debtor declared bankruptcy, including extensions where applicable.
  4. The Internal Revenue Service (IRS) did not assess the debtor’s liability for the debt during the 240 days preceding the bankruptcy: the taxes must have been assessed 240 days ago or more.

Additionally, filers should be aware that, while bankruptcy can release the debtor from liability for the tax obligation itself, the discharge does not wipe out liens arising from tax-related debts.
CA Bankruptcy Lawyers Serving Roseville, Sacramento, and Folsom
Chapter 7 bankruptcy and Chapter 13 bankruptcy enable filers who follow the bankruptcy court’s rules to eliminate or restructure many of their most burdensome debts, including but not limited to credit card debt, medical debt, business debts, and debt related to personal loans.  Depending on the circumstances, it may also be possible to eliminate certain court fees, government fines, and debts related to income tax.
If you are struggling to manage debt related to medical bills, credit cards, older income tax obligations, or other sources of debt, Chapter 7 or Chapter 13 bankruptcy may be an effective and practical method of regaining control over your finances.  Consider talking to a Folsom Chapter 13 bankruptcy attorney about how filing for bankruptcy in California may be able to help you achieve your goals and protect your personal property and assets.
The Folsom Chapter 7 lawyers of The Bankruptcy Group have extensive experience assisting married couples, single individuals, and business owners with consumer bankruptcies and business bankruptcies, including Chapter 11, Chapter 13, and Chapter 7, in Roseville, Sacramento, and Folsom.  To arrange a free and completely confidential legal consultation about your bankruptcy options in California, contact The Bankruptcy Group as soon as possible by calling (800) 920-5351.
The post Does Bankruptcy Clear Court Fines in California? appeared first on The Bankruptcy Group, P.C..


1 month 1 day ago

Bankruptcy can shrink your debts dramatically, but filing is not a cost-free process.  In order to declare bankruptcy in California, you will need to pay several court fees, regardless of whether you intend to file under Chapter 7 or Chapter 13.  In this article, our California bankruptcy lawyers discuss how much it costs to file for bankruptcy in California by listing the current bankruptcy filing fees in Sacramento County and Placer County, including information about typical fees for debtor education and credit counseling courses.

What Are the Bankruptcy Filing Fees in Sacramento and Roseville, CA?
california bankruptcy lawyers
Regardless of which county you live in or what type of bankruptcy you are declaring, you will be required to pay several court fees for filing and processing your bankruptcy paperwork.  These fees must be paid to the court which has jurisdiction (legal authority) over your case.
The United States Bankruptcy Court for the Eastern District of California has jurisdiction over Chapter 7 and Chapter 13 bankruptcy cases arising in counties throughout the eastern portion of the state.  More specifically, the Sacramento Division has jurisdiction over bankruptcy cases in Sacramento County and Placer County, among other counties in the area.  The following bankruptcy court fees are current as of December 1, 2016, though debtors are advised to obtain confirmation as figures are subject to change.

  • Chapter 7 Filing Fee in California

    • Filing Fee – $245
    • Administrative Fee – $75
    • Trustee Fee – $15
    • Total Chapter 7 Bankruptcy Fee – $335
  • Chapter 13 Filing Fee in California

    • Filing Fee – $235
    • Administrative Fee – $75
    • Trustee Fee – None
    • Total Chapter 13 Bankruptcy Fee – $310

In addition to the basic filing fees described above, which apply to all debtors, some filers may have additional costs depending on their unique circumstances.  For example, some filers may eventually need to convert their bankruptcy to a different chapter, in which case additional bankruptcy conversion fees will arise.  For instance, it costs $25 to convert a Chapter 13 to a Chapter 7 bankruptcy ($10 conversion fee, $15 trustee fee).
For additional information about bankruptcy filing fees, you may contact the Robert T. Matsui United States Courthouse, which is located in Sacramento, by calling (209) 521-5160.  However, you should not file for bankruptcy, which is a major legal decision with long-term financial impacts, until you have discussed your situation in detail with an experienced Sacramento Chapter 7 bankruptcy lawyer, like an attorney from the skilled legal team at The Bankruptcy Group.
How Much Do Debtor Education and Credit Counseling Courses Cost? 
Before you can file for bankruptcy in California, you are required to undergo a credit counseling course.  The course must be administered by an agency which has been approved by the Department of Justice (DOJ), which supplies a full list of DOJ-approved credit counseling agencies in California on its website.  Most of these courses cost somewhere between $10 and $40, though exact pricing varies depending on which service you select.
After you have filed for bankruptcy, meaning you have filed your voluntary petition and other documents with help from your attorney, your next goal is to eventually obtain a discharge, which means that you will no longer be financially liable for your dischargeable debts (debts which can be eliminated in bankruptcy), such as credit card debt and medical debt.  However, before your case can be discharged, you must take another DOJ-approved course known as debtor education, sometimes referred to as the pre-discharge debtor education requirement.  Like credit counseling courses, debtor education courses are listed online through the DOJ, and typically cost anywhere between $10 and $40.
California Credit Counseling and Debtor Education Fees
bankruptcy attorney sacramento
To provide you with some real-world examples of debtor education and credit counseling costs in California, we’ve listed at random just a few of the actual options currently listed on the DOJ’s website.  Please keep in mind that the list below is not exhaustive, and the examples supplied here represent only a small handful of the options available to debtors in California.

  • 101 Credit Counseling

    • Credit Counseling – $14.95
    • Debtor Education – $6.95
  • 1st Choice Counseling and Education

    • Credit Counseling – $32
    • Debtor Education – $25
  • Debtor CC 

    • Credit Counseling – $14.95
    • Debtor Education – $9.95
  • Online Bankruptcy Class

    • Credit Counseling – $24 to $25
    • Debtor Education – $23 to $24
  • Simple Class

    • Credit Counseling – $23.95
    • Debtor Education – $23.95

Roseville Bankruptcy Lawyers Handling Chapter 7 and Chapter 13
Bankruptcy can be a powerful financial tool for Californians who are struggling with overwhelming business debt and/or personal debt, including debt from credit cards and medical bills.  In some cases, bankruptcy can even help you save your home from foreclosure.  However, the California bankruptcy process can be very complicated, and even a minor error could cost you money, cause delays in your case, or even deprive you of important rights.  Therefore, it is vital that you are guided by an experienced Roseville Chapter 13 attorney or Chapter 7 bankruptcy lawyer.
To talk about your bankruptcy case in a free and confidential legal consultation, contact The Bankruptcy Group right away at (800) 920-5351.  In addition to representing individuals and married couples who are filing jointly, our Chapter 11 bankruptcy attorneys also assist companies with business bankruptcy in California.
The post How Much Does it Cost to File Chapter 7 or Chapter 13 Bankruptcy in California? appeared first on The Bankruptcy Group, P.C..


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