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Filing for bankruptcy can help you keep your assets legally without having them seized by creditors to satisfy an outstanding balance or past due debt. Yet, some who file think they need to hide or withhold information about their personal property in order to retain it. This action may lead to bankruptcy fraud charges, hefty [...]
It is my job to know whether a Chapter 7 or a Chapter 13 is the better option for my clients. The questions that I ask at the initial consultation asked to make this determination. Most clients want to file a Chapter 7, but that is not always the best option for them. Each case […]
It is my job to know whether a Chapter 7 or a Chapter 13 is the better option for my clients. The questions that I ask at the initial consultation asked to make this determination. Most clients want to file a Chapter 7, but that is not always the best option for them. Each case […]
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for August 15, 2013 Judge expresses doubts about AMR bankruptcy exit Bankruptcy, Layoffs, And Lawsuits Plague Montenegrin Aluminum Plant Soho’s files for bankruptcy, will stay open
Getting rid of a lawsuit in bankruptcy depends on a few factors. One of the main factors includes determining if the liability associated with it is dischargeable. Sometimes a debtor may receive a lawsuit or learn of being sued and ignore it. This can turn into a default judgment giving creditors an upper hand on [...]
Divorce can result from the stress of dealing with marital debt. Bankruptcy and divorce often go hand-in-hand.
Often one spouse wants to file bankruptcy and the other spouse dissents. Thus, the question is what happens with the debt when the husband files divorce by himself?
Answer: The husband is no longer liable on any of the unsecured debt. Not his separate or the marriage's joint debt. Because California is community property state, his separate debt -- incurred while married -- will be owed by the non-filing wife. It is a rough rule. Now, she will have to be concerned about handling repayment of all the debt.
If the couple is in the process of divorce, the family court judge may have some leeway in taking that fact into consideration when awarding other community property and/or spousal support.
Ken Jorgensen, California Attorneywww.fresnobankruptcylawgroup.com
Photo Credit: http://www.flickr.com/photos/daquellamanera/
An important part of making your decision to file bankruptcy is deciding which type of bankruptcy is right for you. For the most part you will be making the decision to file chapter 7 or chapter 13. Although it is possible to “convert” or switch from chapter 7 to chapter 13 or vice versa, it [...]
An important part of making your decision to file bankruptcy is deciding which type of bankruptcy is right for you. For the most part you will be making the decision to file chapter 7 or chapter 13. Although it is possible to “convert” or switch from chapter 7 to chapter 13 or vice versa, it […]The post Choosing the Right Type of Bankruptcy appeared first on Tucson Bankruptcy Attorneys Trezza & Associates.
The automatic stay is one of the reasons why bankruptcy can be a powerful tool in helping you regain control of your finances. It is often seen as a stop sign to creditors or anyone looking to proceed with legal action against you. Whether you are behind on paying your bills or feel repossession is [...]
There are several things that you should not do if you are considering filing for bankruptcy under either Chapter 7 or Chapter 13. One of the things that people do which is a prohibited act is repaying a family member or a friend within a year of filing for bankruptcy. This is known as a+ Read MoreThe post Is there anything I should not do if I’m thinking of filing for bankruptcy? appeared first on David M. Siegel.
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