Lots of people are asking whether the rules prohibiting debtors from discharging student loans in bankruptcy are changing in light of Krieger v. Educational Credit Management Corporation. Unfortunately, I don’t believe they are. In my opinion, Krieger involved little more than application of the “Brunner test” to one debtor’s particularly bleak situation. Discharging student loans [...]
Judgment Liens and the California Homestead Exemption – Long Beach Bankruptcy Lawyer As a bankruptcy lawyer in Long Beach, California, I hear a lot of misconceptions about judgment liens and the California homestead exemption when it comes to bankruptcy. So, what is the California homestead exemption? And what is the interplay between California’s homestead exemption [...]
So, you’re looking for a bankruptcy lawyer in Los Angeles. Well, you’ve got a lot to choose from because there are a lot of bankruptcy lawyers in Los Angeles if you are thinking about filing chapter 7 or chapter 13 bankruptcy. Here are three questions you should ask in selecting a bankruptcy lawyer in Los [...]
“Can I represent myself in chapter 7 bankruptcy?” Can you? Yes. Should you? Absolutely not!!! The other day I was sitting in an chapter 7 meeting of creditors. The trustee called the case before mine. A man and his wife got up and walked over to the examination table where the trustee and his assistant [...]
The California bankruptcy “wildcard” exemption increased on April 1, 2013 to $25,340.00. So, what is the California bankruptcy wildcard exemption? The California bankruptcy wildcard exemption is an alternative to the homestead exemption and can be applied to any assets owned by the debtor. California has two sets of exemptions, the “704″ and the “703″ exemptions. [...]
The real estate market in Los Angeles and Long Beach California is starting to heat up with real estate housing prices going up and inventory at all time lows. So what does a seller have to disclose to a buyer when selling real property? And duties, if any, does the seller’s broker owe the buyer [...]
Yep, you read it right. It is possible to have too much debt to file bankruptcy. Well, chapter 13 bankruptcy. While there is no limit on the amount of debt you can have in Chapter 7 bankruptcy, there are debt limits in Chapter 13 bankruptcy. 11 U.S.C. 109(e) provides that “[o]nly an individual with regular [...]
It happens with some frequency. In the midst of preparing the chapter 7 bankruptcy schedules and statements the debtor forgets to list a creditor. The case proceeds, the debtor receives a discharge and the case is closed. Thereafter, the creditor contacts the debtor looking for payment of the omitted claim. Is the omitted claim discharged [...]
In the Central District of California where I practice the chapter 13 bankruptcy trustees commonly require the debtor to turnover any tax refunds received during the plan period, usually for the first 3-years. I recently had a case where the debtor’s only debts were mortgage arrears and student loans. Based on her disposable monthly income [...]
Getting paid by customers is hard enough. You do the work or ship the product, send the customer an invoice, or two, or three, and finally the check shows up in the mail. Finally you get paid! Ahhh, its good being in business again. Then, out of nowhere, you get notice that your customer has [...]
