Second Mortgage Lienstripping

The Bankruptcy Code offers a number of interesting code sections that allow for reorganization of secured debt.  The most secured debt that people have are their cars and their homes.  The Bankruptcy Code allows a person that files either Chapter 11 or Chapter 13 to “strip off” a wholly unsecured mortgage.  There is an analysis… Continue reading Second Mortgage Lienstripping

How To Hire An Attorney

In most cases, when you hire an attorney, you are embarking on a long term relationship. In the United States, the attorney acts as solicitor and counselor. This means that the attorney does the legal work required for your standing and position in the Court, and counsels with you along the way to ensure that… Continue reading How To Hire An Attorney

Why is paying off creditors before bankruptcy generally not a good idea?

It is generally not wise to repay debts just before filing bankruptcy. Those considering bankruptcy often owe debts to many creditors. As a result, many are tempted to attempt to pay off one or more particular creditors before they file bankruptcy. This is especially common when the creditor is a family member. If you are… Continue reading Why is paying off creditors before bankruptcy generally not a good idea?

Does Bankruptcy Protect Assets and Income

One of the very basic tenants and cornerstones of protection is the automatic stay. When a Bankruptcy case is filed the automatic stay is put into place. The automatic stay acts as a shield to creditors, and will prevent actions being taken against the person or entity that filed the bankruptcy case, unless the stay… Continue reading Does Bankruptcy Protect Assets and Income

COVID-19 and Bankruptcy

The President signed into law the Coronavirus Aid Relief, and Economic Security Act (“CARES Act”) on March 27, 2020.  Bankruptcy is Federal Law and the Federal Government added some provisions to the Cares Act to help people in Bankruptcy that are affected by the economic downturn in San Jose, Santa Cruz and the bay area… Continue reading COVID-19 and Bankruptcy

Corona Virus Spurs Changes to the Bankruptcy Code

The President signed into law the Coronavirus Aid Relief, and Economic Security Act (“CARES Act”) on March 27, 2020.  Bankruptcy is Federal Law and the Federal Government added some provisions to the Cares Act to help people in Bankruptcy that are affected by the economic downturn in San Jose, Santa Cruz and the bay area… Continue reading Corona Virus Spurs Changes to the Bankruptcy Code

How to manage your mortgage or rent

How to manage if mortgage or rent can’t be paid while shelter in place order is in effect The Shelter in Place Orders and the coronavirus pandemic are causing serious financial conditions for people living in Santa Cruz, San Jose, Santa Clara and the bay area.  Non-essential workers have been laid off, and most people… Continue reading How to manage your mortgage or rent

Should Debt Payments be Suspended

Debt Consolidation or Bankruptcy? What is the real difference between debt consolidation and bankruptcy? They both affect your credit score in a negative manner, which is the correct choice when a person can’t afford to pay their credit card debts or other liabilities? Debt consolidation is most often done with a third party company whose… Continue reading Should Debt Payments be Suspended