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Why Chapter 11 Bankruptcy is the Only Bankruptcy Option for Some Individuals

While Chapter 11 is mainly a form of bankruptcy for business entities, individuals also have the option of filing a Chapter 11 bankruptcy petition. Since Congress enacted the Bankruptcy Abuse Prevention and Consumer...more

8/11/2014 - BAPCPA Chapter 11 Commercial Bankruptcy Consumer Bankruptcy

Priority of Payouts in Bankruptcy Filing: Priority, Secured & Unsecured Debts

People often wonder how creditor payment work in bankruptcy filing, in Bakersfield, California. Debt falls into three main categories – priority, secured and unsecured debts....more

8/5/2014 - Bankruptcy Code Commercial Bankruptcy Consumer Bankruptcy Creditors Priority Debt Secured Creditors Secured Debt Unsecured Creditors Unsecured Debt

The totem pole in Bankruptcy. Who gets paid first?

Chapter 7 bankruptcies have a hierarchy of creditor claims that is the result of the legislative process. The totem pole was carved with an attempt at fairness and common sense, but naturally has politics painted on it. ...more

7/17/2014 - Chapter 7 Consumer Bankruptcy Creditors Secured Creditors Unsecured Creditors

What Complications Do You Encounter When Filing for Bankruptcy and Divorce at the Same Time?

The saying "Timing is everything" certainly holds true when filing for bankruptcy. Sometimes, bankruptcy and divorce proceedings collide. Each legal proceeding can complicate the other and cause delays....more

7/9/2014 - Consumer Bankruptcy Divorce

The Thing that Wouldn’t Leave. Non-dischargeable Debts in Bankruptcy

One of my favorite old Saturday Night Live sketches was a preview of a mock-horror movie starring John Belushi as an unwanted house guest who was sticking around too long. The name of the movie was The Thing That Wouldn’t...more

6/20/2014 - Chapter 7 Consumer Bankruptcy Debt

Fresh Starts in Chapter 7 and Finishing the Race in Chapter 13: Bankruptcy Positives

Many years ago I read an article in the Los Angeles Times that cited a statistic to the effect that nearly all people who filed Bankruptcy, regretted it. Something like 90 percent. I am not sure how that figure was...more

6/3/2014 - Chapter 13 Chapter 7 Consumer Bankruptcy

Our Neighbors Filed Bankruptcy and Kept Everything. What Will We Lose?

This area of Bankruptcy law deals with a lot of ‘twos.’ There are two components of a Bankruptcy: assets and debts. There are two kinds of debts: dischargeable and non-dischargeable. There are two kinds of assets: exempt...more

5/28/2014 - Creditors Debtors Dischargeable Debts Exempt Assets Exemptions Non-Exempt Assets Secured Creditors Secured Debt Unsecured Creditors Unsecured Debt

Is the Means Test a mean test? Flunking Chapter 7

Hard to believe that we are closing in on ten years since Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). The most significant impact on consumer bankruptcies was the creation of the...more

5/21/2014 - BAPCPA Chapter 7 Consumer Bankruptcy IRS Means Test

Does My Spouse Have to File and Other Bankruptcy Questions Answered

When should I talk to a Bankruptcy attorney? Over the years, most business clients come in for a consultation when they are at the end of the line, making the prospect of reorganizing and surviving with the the current...more

5/16/2014 - Consumer Bankruptcy

How Long Does Bankruptcy Typically Take?

The length of the process is a significant concern for many people contemplating bankruptcy. However, it may not take as long as you believe. The typical length of the bankruptcy process can vary greatly depending on the...more


Preparing for Your Bankruptcy

While there are some rare situations when a person or business may need to file bankruptcy in a hurry — such as to avoid foreclosure — it is never something that should be done without thorough preparation. Bankruptcy in all...more

3/20/2014 - Consumer Bankruptcy

Can I File for Chapter 13 Bankruptcy Even if I Qualify for Chapter 7?

Some individuals pass the means test for Chapter 7 bankruptcy. Yet they also have income that might allow them to repay their creditors under more favorable terms. This option might be preferable to individuals who wish to...more

3/6/2014 - Chapter 13 Chapter 7 Consumer Bankruptcy

Why Would an Individual or Business File for Chapter 11 Bankruptcy Instead of Chapter 13?

Both businesses and individuals who own a business can use Chapter 11 or Chapter 13 bankruptcy to obtain debt relief through new loan repayment terms. Still, even though the two chapters seem similar at a glance, there are...more

2/27/2014 - Chapter 11 Chapter 13 Commercial Bankruptcy Consumer Bankruptcy Debt-Relief Industry

What Property Can I Keep in a Chapter 7 Bankruptcy?

Although the basic concept of Chapter 7 bankruptcy involves liquidating assets to repay creditors, the law is not intended to leave individuals or businesses without any assets. This is why filers can exempt certain assets...more

2/17/2014 - Chapter 7 Consumer Bankruptcy

Qualifying for Chapter 13 Bankruptcy

Chapter 13 is a highly useful personal bankruptcy option that is often overlooked in favor of its much more common counterpart, Chapter 7. However, Chapter 13 is not for everyone. Debtors interested in Chapter 13 must meet...more

1/23/2014 - Chapter 13 Consumer Bankruptcy

Understanding the Bankruptcy Courts

Bankruptcy courts play a critical role in the bankruptcy process. These specialized courts preside over all bankruptcy petitions and certain ancillary cases arising from the bankruptcy process. These courts are not like other...more

1/16/2014 - Bankruptcy Code Commercial Bankruptcy

The Interplay Between Personal and Business Bankruptcy

There is usually a sharp distinction between personal bankruptcy and business bankruptcy. Certain types of bankruptcy are only available to individuals, and individual debtors filing for bankruptcy may face stricter...more

1/9/2014 - Chapter 11 Chapter 13 Commercial Bankruptcy Consumer Bankruptcy

Discharging Past Due Taxes Through Bankruptcy

There are many events that can force a person into bankruptcy. In many cases, it is a confluence of unexpected expenses that ultimately overwhelms a person’s savings and finances. Back taxes can be among these contributing...more

12/24/2013 - Chapter 7 Consumer Bankruptcy Tax Liability

The Useful Options in a California Bankruptcy

How, when and why people file for bankruptcy has changed over the years. Throughout this time, it has been a legal means to manage debt, pay off creditors as best as possible and enable the filer to regain a solid financial...more

11/4/2013 - Chapter 13 Chapter 7 Consumer Bankruptcy

The Stigma of Bankruptcy

Many people see bankruptcy as an admission of failure, irresponsibility or weakness. They fear the prospect of filing for personal reasons, adding to the strain of financial distress and uncertainty. While there is no...more

10/28/2013 - Chapter 11 Chapter 7 Consumer Bankruptcy

The Case Trustee in a Chapter 7 Bankruptcy

Many debtors are intimidated by the case trustee in their Chapter 7 bankruptcy case, but there’s no need to feel that way. Honest debtors who do their best to comply with the bankruptcy court’s requirements have no need to...more

10/22/2013 - Chapter 7 Consumer Bankruptcy Trustees

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