News Topic: Can I keep my property if I file bankruptcy?

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

When you are considering bankruptcy, you have often been behind on payments for months.  You have run up credit card debt, and missed payments on your car and mortgage.  And now, perhaps your lender is threatening to repossess your car.  What are your ... Read full article

Many people who have considered bankruptcy are aware of the fact that bankruptcy treats secured and unsecured debts very differently.  If most of your debt is secured, should you even consider bankruptcy? If not, what are your other options? Secured debts ... 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

 In re: Moser, No. 09-11945 (Bankr. N.D. Calif., May 18, 2011). In your interactions with the bankruptcy court, it is important to be as kind and respectful, and honest as possible.  The bankruptcy court has a lot of discretion in making important ... Read full article

When Your Employer Files Bankruptcy… In today’s economic climate, it’s not enough to be careful with your own finances – you may face the bankruptcy of your employer.  Then what?  Does your employer have to continue to pay you, and give you health and ... Read full article

  What happens when you file for bankruptcy and then receive a large inheritance?  If your receive an inheritance, should you still consider filing for bankruptcy?  Questions involving financial assets can be complicated, and often depend on the timing, as ... Read full article

When you consider filing for bankruptcy, if you are married you will have to decide whether to file jointly or separately.  If you decide to file jointly, it will be important to know:  what will happen to your spouse? What happens to your spouse will ... 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

In our current tenuous economic climate, more and more normal, honest, hardworking people are turning to bankruptcy for relief from overwhelming debt. In fact, most people who file for bankruptcy are perfectly responsible citizens who have lost homes, lost ... Read full article

With the housing market the way it is, many people want to know: what is the difference between a short sale and a foreclosure sale?  And what difference does it make in bankruptcy?   In a short sale, you have defaulted on your loan and cannot make the ... Read full article

Your Current Monthly Income Affects Eligibility for Chapter 7 Bankruptcy The term “current monthly income” (CMI) is an important concept in bankruptcy that courts use in several “bankruptcy tests”. For example, your “current monthly income” is important ... Read full article

As reports surface that wealthy socialite Patricia Kluge has filed for Chapter 7 bankruptcy protection, many have wondered:  how can you file for bankruptcy when you are a billionaire? When United State bankruptcy laws were drafted, the focus was ... Read full article

Often, people wait too long to file bankruptcy.  Considering bankruptcy to be a last resort is probably a wise thing to do, and there are often many things an individual can do to prevent bankruptcy.  However, waiting too long can mean that bankruptcy ... Read full article