Suspended Driver’s License from backed Child Support and Bankruptcy
Can filing for Bankruptcy reinstate my driver’s license that was suspended for backed Child Support? Not only can California county-based child support services department suspend your driver’s license, but also your business license and state issued professional license. The State Licensing Match System is used to match paying parents who owe child support with business, professional, and driver’s licenses. These licenses […]
Multiple Bankruptcy Filing
I previously filed for Bankruptcy, but because of circumstances beyond my controll I need to file Bankruptcy again. Do I qualify for another Bankruptcy Discharge? It depends on what Chapter was your last filed Bankruptcy and whether you received a discharge. Moreover, your bankruptcy filing is in good faith. If you filed for Chapter 7 Bankruptcy and received […]
Bankruptcy and Foreclosure
What can Chapter 7 Bankruptcy and Chapter 13 Bankruptcy do for my Foreclosure? Chapter 7 Bankruptcy cannot stop foreclosure. It can stall foreclosure. If you receive a Chapter 7 Bankruptcy discharge, you are not personally liable for the debt after they foreclose on the collateral. Chapter 13 Bankruptcy can stop foreclosure as long as you timely […]
Lienstripping and Chapter 13 Bankruptcy
What is Lienstripping in Chapter 13 Bankruptcy? Chapter 7 Bankruptcy or Bankruptcy Discharge does not get rid of liens. Bankruptcy discharge only gets rid of your personal liability to the debt and the lien will remain in the property. If you want to get rid of a junior lien on your home (aka second mortgage, equity line of credit), you […]
If I Operate a Business and I Filed for Bankruptcy, Am I Required to Stop Business Operation?
If I operate a business and I filed for Bankruptcy, am I required to stop business operation? The answer depends on who is filing for bankruptcy. If the bankruptcy filer is a corporation, limited liability company, or partnership, it must stop business operation immediately upon filing Chapter 7 Bankruptcy. Corporation, limited liability company, and partnership cannot […]
Liens and Bankruptcy
What liens can bankruptcy remove? The answer depends of the type of liens and which bankruptcy chapter filed. Judicial liens, aka judgment liens, by credit cards, personal loans, medical bills, or deficiency from car repossession or foreclosure can be removed in either a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy if you meet the conditions. […]
What is the Best Thing About Bankruptcy?
What is the best thing about bankruptcy? The answer to this question will be different for different people. For some people, the best thing about bankruptcy is discharge of debts. Bankruptcy can be a huge relief if you have insurmountable credit card debts, medical bills, unsecured personal loans, deficiency from car repossession or foreclosures, guaranteed […]
What Debts are Discharged in Bankruptcy?
What debts are discharged in bankruptcy? Examples of dischargeable debts in bankruptcy, whether you file for Chapter 13 Bankruptcy or Chapter 7 Bankruptcy, are credit cards, medical bills, unsecured personal loans, and deficiency from car repossession or foreclosure. Examples of non dischargeable debts are child support, alimony, recent taxes, debts incurred through fraud, fines, restitution, […]
What can I do to Stop Wage Garnishment?
What can I do to stop wage garnishment? Filing for Bankruptcy, whether it is Chapter 7 Bankruptcy of Chapter 13 Bankruptcy, will stop most wage garnishment because Automatic Stay takes into effect upon filing which stops creditors from collection activities. However, automatic stay will not stop wage garnishment for child support or alimony. Domestic support obligation are priority […]
What Can I do to Save My Home from Foreclosure?
What can I do to save my home from foreclosure? One effective way to save your home from foreclosure is to file a Chapter 13 Bankruptcy before the foreclosue date or Trustee Sale date. However, you must be able to afford the Chapter 13 Bankruptcy plan payment for a 3 to 5 year period. The […]