Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Sacramento CA Home Price on the Rise & Effect on Chapter 7 or 13 Bankruptcy Filing
As if the cost of housing in Sacramento California is not already high enough. In an article published in the Sacramento Bee, due to low inventory, median sale price of a home in Sacramento, El Dorado and Placer counties, CA in August 2016 was $345,000, up 11 percent from a median of $311,000 in August […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – You Just Received a Lawsuit. Do You have Time to Act?
Do not panic. You have some time (not much!) to consider your options. When you just received a notice of a lawsuit (i.e., summons and complaint), you have up to 30 days from the date that the lawsuit was served to you to file an answer to the lawsuit. If you fail to timely file an answer, your […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Will I go to Jail for not Paying my Debt?
Throughout the years as a bankruptcy attorney, I have clients asked me if they can go to jail for not paying their bills. The question arise because they either received an email or phone call by a fictitious government representative or government office telling them to pay or go to jail. Unless you owe child support […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Judgment can be Discharged in Bankruptcy
Chapter 13 or 7 Bankruptcy can discharge judgment where the underlying debt of the judgment is dischargeable. A judgment does NOT make a debt nondischargeable in bankruptcy. It is the nature of the underlying debt that makes it nondischargeable. Examples of unsecured debts that are dischargeable are credit cards, personal loan, payday loan, medical bills, deficiency from […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Free vs. Malaier: Unsecured Lien that was Discharged in Previous Chapter 7 Bankruptcy is Not Counted towards the Unsecured Debt Limit to be Eligible for Chapter 13 Bankruptcy Relief
As of April 1, 2016, the debt ceiling to be eligible for Chapter 13 Bankruptcy relief increased as follows: Secured Debt Limit is $1,184,200 Unsecured Debt Limit is $394,725 If you have debt that exceeds either one of those categories, you are ineligible for Chapter 13 Bankruptcy. Free vs. Malaier, a 2015 case decided by […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – How is Judgment Lien (aka Judicial Lien) avoided through Chapter 13 or 7 Bankruptcy?
Judgment Lien or Judicial Lien can be avoided through Chapter 13 or 7 Bankruptcy by filing a motion under 11 USC § 522(f). A judgment lien occurs when creditor recorded a judgment (judgment is received at the end of a lawsuit) in the recorder's office of the county where your house or other real estate is located. The […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – What is Chapter 20 Bankruptcy? Chapter 7 + Chapter 13 Bankruptcy
A Chapter 20 Bankruptcy is the completion and discharge received from a Chapter 7 followed by the filing of a Chapter 13 Bankruptcy. Hence, Chapter 7 + Chapter 13 equals Chapter 20 Bankruptcy. If a Chapter 13 Bankruptcy if filed within 4 years of the date of filing Chapter 7 Bankruptcy, you cannot receive a discharge from the […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Chapter 13 Bankruptcy Debt Limits Increased Effective April 1, 2016
On April 1, 2016, the debt limit to file for Chapter 13 Bankruptcy increased: Secured Debt Limit is $1,184,200 Unsecured Debt Limit is $394,725 This means that people who could not file for Chapter 13 Bankruptcy protection because of the amount of their debts prior to the April 1, 2016 increased might qualify now that the debt […]
Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – Why do Mortgage Lender Stop Sending Statement After Bankruptcy Discharge?
Even after a Bankruptcy Discharge, some mortgage lenders stop sending mortgage statements even though the lien survives bankruptcy discharge. Bankruptcy law prohibits the collection of a debt upon the date of bankruptcy filing because "automatic stay" takes into effect. Automatic Stay prevents creditors from collection activities like calling or writing you in demand of payment of […]