Articles Posted in Bankruptcy

There are many misconceptions about bankruptcy. One of the most common is that filing for bankruptcy is a permanent and devastating hit to a consumer’s credit. That is simply not true. At first, it can be a little difficult to get credit. A recently discharged consumer will likely have to pay higher interest rates and…

The vast majority of bankruptcy filings in Sacramento and Northern California go through the system smoothly. However, there are many situations that can arise in a bankruptcy case that involve conflict between a creditor, the debtor, and/or the trustee. Many times, these conflicts must be resolved in bankruptcy court in front of a judge. Complex…

It makes sense that if someone needs to file bankruptcy, they probably don’t have a lot of money. So it can be tempting to seek bankruptcy help from a petition preparer or a cheap attorney from out of town. But it makes much more sense to hire someone who is actually an attorney and is…

Northern California is filled with hard-working people. Many of those folks are small business owners. But running a small business can be a struggle, especially in a volatile economy. It is a great thing that inhabitants of the Sacramento Valley are proactive entrepreneurs. From general contractors to orthodontists, there are examples of what makes the…

Many people who file bankruptcy wonder what it means to have a “secured creditor.” A secured creditor is a person or entity to whom the debtor owes an obligation which is backed by real or personal property. That property is often called “collateral.” The secured creditor has a secured interest in that collateral. The reason…

Bankruptcy often occurs during a tumultuous period in life. Another tumultuous life event that often involves finances is divorce. Inevitably, bankruptcy and divorce sometimes are intertwined, so it’s important to understand the ramifications of filing bankruptcy individually versus jointly. Individual versus Joint Filing A married couple can file a joint bankruptcy, even if they are…

Everyone has a different idea of what bankruptcy is. Some people think that it’s a scary court proceeding in which the debtor has to give up all her possessions. Others know just enough to think that it’s a process by which the debtor has to pay back all of her debt over time. Others think…

In many cases, the most important aspect of filing for bankruptcy protection is the section that determines the debtor’s rights in their belongings. That means that these rules allow a debtor to keep certain assets after bankruptcy. In a Chapter 7 bankruptcy filing, the exemptions can determine whether or not the debtor gets to keep…

For many folks in the greater Sacramento area, the most valuable component of a bankruptcy is the automatic stay, which is usually gained immediately upon the filing of the initial bankruptcy documents. The stay stops most creditor actions against a debtor, including foreclosures, repossessions, garnishments, utility shut-offs, and, most of the time, evictions. The stay…

At times, we all face hard decisions and, most often, they get harder as we grow up. For many Americans, the economy has been a challenge, leaving many of us to make hard financial decisions. Luckily, there are people who can make such decisions easier. For anyone facing debt and foreclosure, take heart, we promise…