Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Chapter 13 Bankruptcy Qualifications
Chapter 13 Bankruptcy – Who Qualifies? According to Bankruptcy Code 11 U.S.C. 109(e): Chapter 13 Bankruptcy Qualifications: “Only an individual with regular income that owes, on the date of the filing of the petition, noncontingent, liquidated, unsecured debts of less than $419,275 and noncontingent, liquidated, secured debts of less than $1,257,850 or an individual with […]
Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Venue: Where can I File for Bankruptcy?
Whether you want to file for Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, you must file your case at the proper Bankruptcy Court. For example, if you live in Los Angeles, you cannot choose to file in Sacramento, CA Bankruptcy Court just because you are visiting your parents during your vacation without any of the […]
Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – California Homestead Increase effective January 1, 2021
Starting on January 1, 2021, the California homestead exemption is increased to at least $300,000 but up to $600,000 for every homeowner. The amount depends on the countywide median sale price for a single-family home in the calendar year prior to the calendar year Debtor claims the exemption. How does the Increase in California Homestead […]
Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Pros and Cons – Chapter 7 Bankruptcy Benefits
Chapter 7 Bankruptcy benefits and some common pros and cons: Chapter 7 Bankruptcy Benefits: No Payment Plan in Chapter 7 Bankruptcy. Unlike a Chapter 13 Bankruptcy, there is no payment plan to your creditors. However, for some clients, a Chapter 13 Bankruptcy is more beneficial if they are trying to stop foreclosure or repossession or […]
Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – HAVEN Act: Veterans (VA) Benefits Excluded from Bankruptcy Current Monthly Income
Under the HAVEN Act, which Veterans Administration or VA benefits are excluded in Bankruptcy Current Monthly Income calculation? (HAVEN Act is acronym for Honoring American Veterans in Extreme Need Act of 2019). Below is what was published in the United States Trustee’s website for Bankruptcy Cases: Disability and death benefits paid by Veterans Administration under […]
Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Small Business Bankruptcy
Small Business Bankruptcy has become a much discussed topic recently at my office. COVID-19 causes many small businesses to lose revenues and accumulate debts. Filing for small business bankruptcy may be an option you should consider. Small Business is a Sole Proprietorship If your small business is a sole proprietorship, you have the option to […]
Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Conversion Chapter 13 Bankruptcy to Chapter 7 Bankruptcy
What do you do if you can no longer afford your Chapter 13 Bankruptcy plan payments? What if the sole reason you are in a Chapter 13 Bankruptcy is because of car or house you no longer want? Conversion Chapter 13 to Chapter 7 Bankruptcy might be an option. Can I convert my Chapter 13 […]
Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Chapter 13 Bankruptcy and Repossession
Chapter 13 Bankruptcy can be used to stop auto repossession and reduced payments. Are you in danger of auto repossession? You can file a Chapter 13 Bankruptcy to spread out the payment up to 60 months. You may also reduce the interests and cram down the principal loan balance. You may even cut off part […]
Get Relief from Wage Garnishment & Bank Levy through Bankruptcy
What is Wage Garnishment & Bank Levy? And Can Bankruptcy Stop Wage Garnishment & Bank Levy? If you owe money and fell behind on payments, your creditors can sue you for the amount owed. Once your creditors received a judgment against you in court, they can attempt to collect on the judgment by recording an […]
Will Creditors Stop Calling Me and Demanding Payment Once I Filed Bankruptcy?
Will creditors stop calling me and demanding payment once I filed Bankruptcy? Upon filing of Bankruptcy, whether it is Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, “Automatic Stay” takes effect. Under the Bankruptcy Code, Automatic Stay prevents creditor from attempting to collect on a debt, which includes calling you to demand payment. However, creditors might […]