Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – How does Filing Bankruptcy Effect Property Division during a Divorce Proceeding?

When one spouse files for either a Chapter 13 Bankruptcy or Chapter 7 Bankruptcy, "Automatic Stay" immediately comes into effect upon bankruptcy filing.  Automatic Stay stops most legal action pending when the bankruptcy case is filed.  If you are in a middle of a divorce (aka dissolution of marriage) proceeding and one spouse filed for bankruptcy, […]

Ask Sacramento Bankruptcy Attorney – What is the Means Test?

The means test is used to determine who is eligible for Chapter 7 Bankruptcy.  It applies to people whose debt is primarily consumer debt.  If you have more than 50% business debt or tax debt, the means test does not apply to you.  There are other exceptions to the means test like majority of the […]

Ask Sacramento Bankruptcy Attorney – Why is Reaffirmation Agreement Necessary?

The major change in bankruptcy law in 2005 called BAPCPA eliminated the choice to "retain and pay" your car loan when filing bankruptcy.  This means that car lender can repossess your car even though you are current on your car payment just because you filed for bankruptcy.  However, the reaffirmation agreement preserves the car contract […]

Ask Sacramento Bankruptcy Attorney – Bankruptcy Discharge vs. Dismissal

There is some confusion from clients about bankruptcy discharge and bankruptcy dismissal.  Some clients use those terms interchangeably.  However, the two terms mean very different things. A bankruptcy discharge is desirable at the end of a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy case.  It means that you successfully completed your bankruptcy case and eliminates dischargeable, […]

Timing of Bankruptcy Discharge & Multiple Bankruptcy Filings – When to File?

Multiple Bankruptcy Filings You already filed for bankruptcy but now you find that you need to file again.  How long should you wait to file another bankruptcy to qualify for bankruptcy discharge? Previously Filed Chapter 7 Bankruptcy Case: If you received a Chapter 7 Bankruptcy discharge in a previous case, you must wait 4 years before filing a new […]