Blogs
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for March 20th, 2014 Bankruptcy: LightSquared Confirmation Hearing Begins With Questions On FCC NY shipping tycoon to take second bankruptcy hit Medical transcription firm M*Modal files for bankruptcy
A California man gets 17 years in prison for hiding assets in his divorce and bankruptcy cases. Steven K. Zinnel, 50, a former Gold River businessman split from his wife back in 1999 but tensions between them made the divorce even more difficult to deal with. Soon after filing divorce, Zinnel filed bankruptcy and claimed […]
Protecting Your Assets In A Chapter 7 Bankruptcy Filing There are two main goals in filing a chapter 7 bankruptcy. The first goal is to eliminate as much debt as possible in order to get a fresh start. The second goal is to protect either all or as much of your personal property as possible+ Read MoreThe post Protecting Your Assets In A Chapter 7 Bankruptcy Filing appeared first on David M. Siegel.
One factor that can make a difference in how your bankruptcy case proceeds is making necessary deadlines. You may not realize there are a number of timelines related to your case that are important and play a big role in helping debtors achieve the outcome they want. While there may be several you need to […]
Jacoby & Meyers Bankruptcy, the “national law firm” formed in 2012 by Jacoby & Meyers (the personal injury lawyers) and Macey Bankruptcy Law PC (the firm that operated for years under the name Legal Helpers), has been forced into Chapter 7 bankruptcy by a group of creditors including LegalZoom (the self-help folks) and a number of lawyers.
The firm’s website now lists a number of other law firms that will help clients by taking over their cases.
Goodbye and thanks for all the fish, as the saying goes.
If you’re a client of Jacoby & Meyers Bankruptcy, there are a few things you need to know to avoid being stranded.
You Have A Right To Choose Your Own Bankruptcy Lawyer. It’s nice that J&M has transferred your file to another lawyer who will allegedly honor all fees paid, but how do you know if this is a good bankruptcy attorney? I’m not knocking the lawyers who are taking over the cases, but it’s up to you – not J&M – to pick who is going to represent you.
Most States Prohibit Nonrefundable Fees. If you paid J&M any money towards your bankruptcy case and it hasn’t been filed yet, you may have the right to get your money back. The reality is that you’ll need to file a Proof of Claim in the firm’s bankruptcy case and may never see a dime of it back, but that shouldn’t stop you from filing your claim.
Even If Your Case Has Been Filed, You Can Get A New Lawyer. In a Chapter 7 case, you can get a lawyer for the meeting of creditors as well as any post-filing work by paying a modest amount of money. For Chapter 13 cases, you can get a new lawyer who will be paid through your Chapter 13 Plan. If your Jacoby & Meyers bankruptcy lawyer was going to get paid through your Chapter 13 Plan, you or your new lawyer can object to the claim and ensure they get nothing more than what you’ve already paid.
If Your Case Has Been Filed, Jacoby & Meyers Is Still Responsible Until The Judge Says So. Once your case is filed, your lawyer is obligated to represent you. The only way they get out from under that responsibility is if a judge allows the lawyer to withdraw. It’s unlikely that someone from Jacoby & Meyers Bankruptcy is going to show up in court with you, but if that’s the case then they’re going to be facing court sanctions and ethical problems to boot.
Ultimately, You Need To Take Control. Jacoby & Meyers Bankruptcy is still your lawyer if your case has been filed. And if not, you can either opt for one of the new firms or find someone else. You can try to get back the fees you’ve already paid, or you can suck it up and pay someone else to handle your bankruptcy case. In the end, it’s your financial future so don’t just hope that someone else is going to take care of things for you.
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for March 18th, 2014 Quiznos follows Sbarro to bankruptcy Ahead of bankruptcy hearing, LightSquared seeks finding against Ergen They’re out: Dodgers are dismissed from bankruptcy court
When you file bankruptcy you will take what is called the Means Test. The test helps debtors learn if they qualify to file Chapter 7 bankruptcy. It reviews the financial background of the debtor to understand monthly expenses and income availability. The test reviews whether disposable income is available and whether it can be placed […]
David Siegel: Hello, welcome. My name is David Siegel. Thanks for joining me. Today were going to be talking about Chapter 7 bankruptcy. Once again, my co-host as always is Jesse Barrientes. Jesse, welcome to the show. Jesse Barrientes: Thank you, Dave. David Siegel: How are you doing today? Jesse Barrientes: Excellent, how about yourself? David Siegel: I’m doing+ Read MoreThe post What Is Chapter 7 Bankruptcy In A Nut Shell? appeared first on David M. Siegel.
Chapter 7 bankruptcy can be confusing for many people. There are different scenarios where Chapter 7 comes into play to change lives. In the latest Legal Action show, we discuss the basics of Chapter 7 and how it can be used. A partial transcription of the show is listed below. You can also view the+ Read MoreThe post What Is Chapter 7 Bankruptcy In A Nut Shell? appeared first on David M. Siegel.
When Can I Refile for Chapter 7 Bankruptcy?
A common question we hear is, “I have filed for bankruptcy before. When can I refile a chapter 7 bankruptcy case?”. The answer to this question -- for Fresno and the rest of California -- is the following:
11 USC Code section 727(a)(8) prohibits a debtor from filing repeated cases under Chapter 7 within eight (8) years of one another.
An example would be if a debtor filed for bankruptcy on April 1, 2006, the next time they can seek Chapter 7 protection is after April 1, 2014.
If 8 Years Has Not Elapsed, What Can I Do?
Other options exist than Chapter 7. One option is to choose Chapter 13 instead of Chapter 7. Chapter 13 can be filed within 24 months, which is 2 years, of a prior bankruptcy discharge. Since the creditors tend to be paid more in Chapter 13 bankruptcies, it is better for creditors to see a Chapter 13. Chapter 13 is often referred to as a “debt repayment bankruptcy.” The debtor allows his income over a period 36 to 60 months to be used to repay the debts.
A second option is to wait for the eighth anniversary date to file for Chapter 7. If your anniversary date for the last filing is fast approaching, we would generally encourage you to seriously consider this option. It is important to remember that garnishments and asset seizures cannot be stopped without a bankruptcy filing. Still you have some protections.
If you cannot make a decision based on this limited overview, please feel free to meet with me to to get more precise advice for your needs.
Updated daily, this blog will keep you informed on the latest bankruptcy news! 
Learn more about how Bankruptcy works and what you need to know.