Redwood City California Bankruptcy Law Blog
Bankruptcy: no shame, just a solid path to financial recovery
You have heard the voices of others as well as the voices inside your head. Debating, debating. You remember the lectures as well as the unsolicited advice from well-intended, but misguided friends and relatives. You are torn as to what to do, but, deep down, you know...
What property may be exempt when filing for Chapter 7 bankruptcy?
When individuals can no longer keep up with debt payments, Chapter 7 bankruptcy may offer a crucial lifeline and an opportunity to rebuild a financial future. Under this form of bankruptcy, the court values and sells a debtor’s assets to pay creditors, discharging...
How does the means test work for Chapter 7 bankruptcy?
The means test determines whether an individual can file for Chapter 7 bankruptcy. These guidelines compare your income minus certain expenses to the median income of other same-size households in California. Learn more about how to apply the means test when...
Ways to avoid the probate process in California
Following the loss of a loved one, family members and close friends may face a long period of grieving. The need to distribute the deceased person’s estate often adds to feelings of anxiety and uncertainty. In most cases, assets must pass through the court in a...
Questions to ask yourself before filing for bankruptcy
Many people do not file for bankruptcy when it would benefit them to do so because of the negative stigma attached to it. Despite what you may have heard, bankruptcy does not mean that you have to sell off all your assets, nor does it ruin your credit forever. For...
Role of the bankruptcy trustee in Chapter 7
Filing for bankruptcy may not be what you envisioned. However, it can be an effective avenue out of debt for you. To successfully file for Chapter 7 bankruptcy, you need to ensure that you have all the relevant documents at hand. Upon receiving your case, the court...
Can you retain your Silicon Valley home in bankruptcy?
Bankruptcy is often a last result for California homeowners strapped under heaps of debt. Owning a home takes a Herculean effort for many owners as they strive to collect the money for a down payment, insurance and other related costs. However, life changes, and you...
Why fewer California debtors are filing for bankruptcy
According to the chief justice of the U.S. Supreme Court, bankruptcy filings are at their lowest in roughly 10 years. In 2010, there were 1.53 million cases filed throughout the country. This was compared to just over 770,000 cases filed as of September 2018. However,...
Disabled vets now have more protection in bankruptcy
Military veterans in California may find themselves struggling under the crushing weight of excessive debt. This can be especially true for disabled veterans who rely on military pensions and benefits to support themselves. From medical bills to personal needs, costs...
Bankruptcy filings eventually removed from credit report
Different types of bankruptcy have different impacts on the credit of the petitioner. In some cases, California residents who file for bankruptcy will have the filing reported on their credit for 10 years; in other cases, it's reported for only 7 years. The two most...
