Bankruptcy Law Blog

The Sacramento area boasts a vast and active real estate market. In addition, house values can be volatile, as can the job market. As a result, many consumers in the Sacramento area can end up behind on their mortgage payments, seemingly without options, and searching for solutions. This is a common question from consumer debtors:…

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…

There are many reasons that folks in the Sacramento area file for bankruptcy protection. From divorce to medical expenses, tough (but common) life events are often the primary cause of bankruptcy. It is important to realize that these problems happen to many, many people. While feelings of shame are valid and come from a place…

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…

It’s tax season. Many folks in the Sacramento area have already filed their tax returns, but there are still a lot of people who will be filing their taxes over the next 10 days. One question that often comes up in the context of bankruptcy is whether all that discharged debt is taxable as “gross…

A chapter 7 bankruptcy filing provides a couple of options to deal with a secured debt like an auto loan. “Redemption” and “Reaffirmation” are options that allow the debtor to keep the car during and after the bankruptcy is complete. “Surrender” is the option that allows the debtor to return the car back to the…

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…

What is the Meeting of Creditors and Why do I have to go? One of the most central moments during a bankruptcy is the initial meeting of creditors. There are a number of procedures and requirements with which the debtor and her attorney must comply. Failure to do so will likely lead to dismissal of…

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…