Debtors have options when their assets exceed exemptions. They can file chapter 11 or chapter 13 and make a stream of payments to buy back their property’s surplus equity. They can file chapter 7 and negotiate a buyback from the trustee, or else just release the assets outright. They can stay out of bankruptcy and […]
Inspired by the national attorney general mortgage settlement, California has passed a landmark foreclosure law that Governor Brown is expected to sign within days. Here are 3 reasons why the rest of the country will be watching the Golden State in the months and years ahead: No “Dual Tracking” The California law is designed to […]
An 89 year old WWII vet hid $66,000 in gold and silver in his backyard, didn’t tell his lawyer about that and then filed for bankruptcy. His home, owned free of all secured claims other than a few minor judgment liens, is to be sold and he is forced from it. This story is creating […]
Sometimes, there’s a reason to hurry up the bankruptcy filing. This usually happens when the client really needs protection from creditors. Trying to stop an impending foreclosure sale, Sheriff Levy, wage garnishment, or seizure of a bank account are all very good reasons to get that bankruptcy case filed. When the creditors are moving to […]
