Bankruptcy Attorney in Los Angeles

What Happens To The Personal Injury Lawsuit Award During Bankruptcy?

Call: 888-297-6203 One of the most common reasons to be filing bankruptcy is the medical costs. This could have occurred due to someone’s negligence and there may be a personal injury lawsuit in progress to avail in a reasonable claim for the damage caused. Whether or not the award is used to suffice the lender’s debt, depends on two factors. One is the amount of exemption available to the bankruptcy filer while filing chapter 7 and the other is the type of personal injury lawsuit award. The rules for availing exemption for the award may be complex and [...]


Can Wage Garnishments Be Stopped By A Bankruptcy Filing?

Call: 888-297-6203 One of the worst things that could happen when you are already struggling with financial problems is having your wages garnished by the creditors. If you are behind on your payments, your creditors can obtain an order from the court. This orders your employees to send some part of your paycheck directly to the creditors, leaving you with a reduced income to pay for your essential expenses and other debts. Wage garnishment can happen for different kinds of debts, including medical bills, alimony, child support, credit card debt, student loan, personal loan, taxes, etc. Before obtaining [...]


Who Is A Bankruptcy Trustee?

Call: 888-297-6203 Whether it be a chapter 7 bankruptcy case or chapter 13 bankruptcy case, there will be a bankruptcy trustee appointed to your case, who will have various rules and obligations. He or she will oversee your entire case and help the court make a judgment. The bankruptcy estate and the bankruptcy trustee To understand what a bankruptcy trustee does, you will first have to know what bankruptcy estate is. It is created after a debtor files for bankruptcy and it consists of all the debtor’s non-exempt properties. It has its separate role in the case. A bankruptcy [...]


The Reality Of Bankruptcy

Call: 888-297-6203 Filing for bankruptcy is time taking process that will require a lot of hard work from your side too but it might be the best solution for you if you have a lot of debt and want to start a new fresh life. Some of the benefits of filing for bankruptcy are- It stops collection efforts or harassment of the creditors. It stops debt lawsuits from creditors. Stopping Wage garnishment (your creditor taking payments directly from your paycheck) Stops foreclosure if your property is not yet sold. It also stops repossessions of some property( in chapter [...]


What Do You Need To Pay For Filing A Chapter 7 Or 13 Bankruptcy?

Call: 888-297-6203 Though bankruptcy is meant to relieve you of financial problems, you need to pay a bankruptcy filing fee when you file for bankruptcy. This covers the cost associated with handling the case. However, if you have a low income, you can ask for a fee waiver. If you choose to amend your petition or convert your bankruptcy chapter, you might have to pay additional fees. Here is a look at the various fees you need to pay while filing for bankruptcy. Bankruptcy petition filing fees In your bankruptcy petition, you must inform about your income, assets, [...]


Filing A Joint Chapter 13 Bankruptcy With Your Partner?

Call: 888-297-6203 After marriage, there is an option of filing for bankruptcy together, but it is not always suitable for you. There are some situations that indicate whether you should file together or not. Chapter 13 bankruptcy is where the debtor will curate a plan showing how you will pay off your debts, instead of the court just discharging your debts. It lasts for 3 – 5 years. It is the best option if you have a lot of assets and don’t want to lose them, or when you know that if you get the time you can [...]


Your Consumer Guide To All Things Related To Bankruptcy

Call: 888-297-6203 If you are struggling with financial issues, bankruptcy can be an excellent way to get rid of your debts. While bankruptcy can prevent repossession and foreclosure, it cannot help you if the sale process has been completed and your property's interest in the collateral is terminated. It can also stop creditor harassment and eliminate some of your debt while protecting your property; however, its effect on your credit score cannot be denied. So, if your credit score is already bad, filing for bankruptcy might help you improve your credit score. This is because, after bankruptcy, you [...]


The Basic Difference Between Chapter 7 And Chapter 13

Call: 888-297-6203 There are two types of bankruptcy, and it is managed at the federal level, so the principles of it are the same everywhere except California. Chapter 7? In chapter 7 bankruptcy, the process called liquidation is followed, here you sell your assets to a trustee who in turn sells them to settle your debt. Most of your debts can be settled here except, some like student loans, alimony, etc. most dischargeable debts are emitted but first you have to pass the means test. There are 2 ways to take the test, Form 122A-1: Chapter 7 Statement of [...]


At A Stage To File Bankruptcy? Well, Before You Do So, Know These 8 Things

Call: 888-297-6203 1) Bankruptcy can be filed in 2 options Which one you choose, depends on a few things. A- For Chapter 7, you get to keep your house and car, if you can clear their dues, you get to walk away from most of the debt. B - For Chapter 13, depends on your income. If you have earned too much or filed for Chapter 7 in the last 8 years, this is what you need to do. Here, all your debts get paid off, but you don't have to pay the entire thing. Some creditors may [...]


What To Do If You Wish To Keep Your Car In Chapter 7 Bankruptcy?

Call: 888-297-6203 Chapter 7 bankruptcy allows you to keep important property, including a vehicle. However, if the vehicle is an expensive model, has a lot of equity in it, or you cannot afford to make the payments, you might end up losing it. While filing for bankruptcy, you are allowed to protect some amount of personal property, including equity in the vehicle, home, household appliances, etc., using various exemptions provided by the state or federal government. The motor vehicle exemption is specifically meant to protect cars in Chapter 7 bankruptcy. What happens if the equity in the vehicle [...]

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