News Topic: Bankruptcy Exemptions

Sometimes in a Bankruptcy case, timing is everything There are lots of numbers in the Bankruptcy Code: numbers that limit filing under Chapter 13 consumer reorganizations based on the amount of debt that you owe; numbers that determine the amount of your ... Read full article

Bankruptcy Vehicle Exemption in California California bankruptcy filers must choose the California exemptions, since California is among the states that have opted out of the Federal exemption. California has two sets of exemptions: the California ... Read full article

There are two typical types of financial setbacks that lead to bankruptcy for most people: a huge surprise, and a slow and steady increase in debt.  If you are on the surprise side of things, as many of us are from time to time, it is important to follow ... Read full article

Exemption laws protect your property from creditors Inside of bankruptcy, exemption laws shield certain items of property from the bankruptcy trustee. Outside of bankruptcy, exemption laws protect your property from judgment creditors. The first rule to ... Read full article

A judgment is a legal determination that you owe a debt A judgment is really just a piece of paper signed by a judge that says you owe a debt. For example, in the event you can’t pay a credit card on time, the bank has no immediate recourse. They can call ... Read full article

... Read full article

Exemption laws protect your property from creditors Inside of bankruptcy, exemption laws shield certain items of property from the bankruptcy trustee, outside of bankruptcy, exemption laws protect your property from judgment creditors. The first rule to ... Read full article

A judgment is a legal determination that you owe a debt A judgment is really just a piece of paper signed by a judge that says you owe a debt. For example, in the event you can’t pay a credit card on time, the bank has no immediate recourse. They can call ... Read full article

Clients are always concerned about their credit score.  It is not unusual for the question “How will bankruptcy affect my credit score?” to be the first thing that comes out of someone’s mouth when they consider bankruptcy as an option.  Although ... Read full article

In a high-profile example of the bankruptcy court’s discretion over your bankruptcy case, former TLC member T-Boz, whose real name is Tionne Watkins, was thrown out of bankruptcy court.  Can this happen to you? T-Boz had filed a personal Chapter 13 ... Read full article

Losing Your Driver’s License Can be a Big Headache Losing your driver’s license can have a huge impact on your life.  Without a license, meeting basic needs is much more difficult.  Suddenly, you may still have to make car payments, but cannot use your car ... Read full article

Joint Accounts for Married Couples:  Can Your Financial Choices Lead to Divorce and Bankruptcy? Several surveys report that the majority of married couples put all of their money in joint accounts.  However, that number is less than it used to be, and ... Read full article

How Can Bankruptcy Turn the Tables for the Debtor When people consider filing for bankruptcy, their first concern is usually what negative consequences may stem from their decision.  Making the decision to file for bankruptcy is an important one, and one ... Read full article

Bennett v. Bennett (In re Bennett), No. 09-44442-BDL (Bankr. W.D. Wash., January 19, 2011). When you file for bankruptcy, any “interested” party can ask the court to dismiss your case.  If the court finds that you abused the bankruptcy laws, by lying or ... Read full article

How Much Control Do Bankrupt Dodgers Have Over Baseball Decisions?   Not long ago, the Los Angeles Dodgers filed for bankruptcy.  This move was controversial, and concerned many baseball fans.   As sports fans are well aware, good players demand high ... Read full article

A common misunderstanding when a person files for bankruptcy is that they lose all their belongings. This is not true. A person filing bankruptcy is entitled to keep their belongings that are necessary for everyday living. This can include furniture, ... Read full article

For those who are considering filing Chapter 7 bankruptcy in San Jose, or elsewhere in California, a common misconception is that the bankruptcy trustee will seize or take away all of a debtor’s existing property.  This is not true. Debtors are entitled to ... Read full article

When considering a Chapter 13 Bankruptcy, one of the first questions that every debtor wants to know is how much their monthly Chapter 13 Plan payment will be. As with most legal questions, the answer is that it depends. One of the ways to determine how ... Read full article