How Long Do I Have to Respond to the Lawsuit from My Credit Card?
Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Credit Cards, Uncategorized
Failure to make payments on your credit cards or personal loans can result in a creditor filing a lawsuit to collect on the money owed. After the creditor files the case in court, he will serve you with a copy of the summons and complain. In California, the summons provides you information on the time [...]
Can Bankruptcy Stop An Eviction?
Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Foreclosure, Uncategorized
Can Filing f or Bankruptcy Help You Stop An Eviction? If you are facing a possible eviction from your home or apartment then filing for bankruptcy can stop the eviction process in most circumstances and provide you with some additional time. When you file for bankruptcy the automatic stay begins which stops most judicial proceedings [...]
Does My Husband/Wife Have to File Bankruptcy with Me?
Filed under: Asset Protection, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Divorce, Marriage, Uncategorized
Once of the biggest concerns for married couples is: Does my spouse have to file bankruptcy with me? Do we have to file bankruptcy together? The answer is: No there is no requirement that married couples file bankruptcy together. Your wife or husband can file bankruptcy individually. Whether it is advisable that you file for [...]
Can You Eliminate a Tax Lien in Bankruptcy?
Filed under: Asset Protection, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Non-Dischargeable, Taxes, Uncategorized
Not being able to pay federal or state income taxes can lead the IRS or the state to place a tax lien on your real property and personal property. Filing for bankruptcy can help in many situations resolve the issues and consequences that can result from having a tax lien placed on your personal or [...]
Should I Modify My Home Loan Before or After Filing for Bankruptcy?
Filed under: Chapter 7 Bankruptcy, Foreclosure, Mortgages, Uncategorized
When filing for Chapter 7 bankruptcy, one of the common questions I run across with clients is whether they should complete a loan modification prior to filing for bankruptcy or after. The answer to this question depends on your particular factual situation and whether completing a loan modification prior to filing for Chapter 7 bankruptcy, [...]
Using Chapter 13 Bankruptcy to Repay Your Student Loans
Filed under: Chapter 13 Bankruptcy, Non-Dischargeable, Student Loans
Student loan repayments can be overwhelming, especially when the monthly payment looks more like a mortgage payment. Many people who are graduating from school are finding themselves with huge student loans, and in jobs that do not offer enough income to meet their necessities and also cover the monthly student loan payments. Although there are [...]
How Much Debt Do I Need to File for Bankruptcy?
Filed under: Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Credit Cards, Uncategorized
There is a common myth that you need to be at least $10,000 in debt or more to file for bankruptcy. Nothing in the bankruptcy code specifies that you need a minimum amount of debt to file for bankruptcy. There is nothing in the laws that prohibits you from filing for bankruptcy because you owe [...]
Business Debts Can Help You File Chapter 7 Bankruptcy
Filed under: Business, Chapter 7 Bankruptcy, Credit Cards, Uncategorized
Chapter 7 bankruptcy, can provide a real solution to current or previous business owners who incurred significant business debt in building their business and continuing to operate their business. However, filing for Chapter 7 bankruptcy can pose a problem if you need to pass the means test. Qualifying for Chapter 7 bankruptcy when you earn [...]
Should I Withdraw Money From My Retirement to Pay Creditors?
Filed under: Assets, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Credit Cards
When your facing harassing and abusive creditor calls and you do not have enough income to pay creditors it can get extremely overwhelming and frustrating. You will inevitably look to whatever options will help get the creditors off your back and avoid bankruptcy. One of the worst decisions you can make is to turn to [...]
Avoiding A Judgment Lien in Bankruptcy
Filed under: Asset Protection, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy
Once a creditor obtains a judgment against you in court, there are several options available to the creditor to collect on the awarded judgment. One of the often used methods is to record the abstract of judgment with the county recorder. The creditor in many states can take the awarded judgment and record a lien [...]
Author
Norma Duenas, Esq.
