Sacramento area residents considering a Chapter 7 or Chapter 13 Bankruptcy should be aware the Eastern District of California has decided to raise the costs of filing a case effective June 01, 2014. The new Chapter 7 filing fee for the Sacramento jurisdiction is now $335.00. The Chapter 13 filing…
Articles Posted in Chapter 7
Chapter 7 and Chapter 13 Bankrupcy and Taxes
As tax day approaches many of my clients often ask if they can discharge tax debt when filing Chapter 7 or Chapter 13 bankruptcy. The short answer to the question is: maybe. It is safe for an individual to presume that his or her tax debts will probably not be…
SIGNIFICANT TAX REFUND COULD HAVE NEGATIVE IMPACT ON BANKRUPTCY FILING
As tax season approaches, many Sacramento area residents look forward to getting their refund checks over the upcoming weeks. Whether filing for Chapter 7 or Chapter 13, however, local residents must keep in mind that any income received is taken into account when qualifying for bankruptcy. Few people realize that…
Court Holds Domestic Support Obligations Not Automatically Dischargeable in Chapter 7 Bankrutpcy
As a Sacramento Bankruptcy Attorney I must often explain to my clients that domestic support obligations, such as spousal support and child support, are not dischargeable in Chapter 7 bankruptcy. This concept frustrates many individuals trying to clean up his or her economic profile. I must also remind these individuals…
Sacramento Retirees Facing Special Challenges in Bankruptcy
All Sacramento area residents have been hit hard by the economic downturn of the last several years. Unfortunately, this downturn has begun to disproportionately affect senior citizens and people leaving the workforce. In the early 90’s people over 55 accounted for approximately 2 percent of bankruptcy filings. Today, seniors account…
Victory for Chapter 7 Debtor in Student Loan Discharge Case
As a Chapter 7 and Chapter 13 bankruptcy attorney in Sacramento I frequently receive calls from people who consider bankruptcy because they have oppressive student loan debt. Student loans are a major issue for many bankruptcy filers. I predict these issues will continue to increase and the laws will ultimately…
Court Holds Bankruptcy Trustee May Collect Funds From Checks Not Cleared on Day of Bankruptcy Filing
As a Sacramento bankruptcy attorney, I typically take a client’s case before the he or she files the bankruptcy petition. I do this in order to help him or her prepare the petition before the actual filing Chapter 7 or Chapter 13. Preparation for bankruptcy can mean a lot of…
2011 May See Decline in Chapter 7 and Chapter 13 Personal Bankruptcy Filings
Economists and legal experts believe that 2011 could see a slowdown in personal bankruptcy filings. As indicators point to an improving economy and consumers borrow less money, “there is less reason for people to take the step of filing for bankruptcy” according to University of Illinois Professor, Robert Lawless. American…
How to Determine if Bankruptcy is the Best Option for You
The decision to file for either Chapter 7 or Chapter 13 is a big one. This decision is one that requires substantial consideration and expertise. One of the most significant aspects of my work as a Sacramento Bankruptcy Attorney is to advise Sacramento area residents as to whether bankruptcy is…
Sacramento Area Bankruptcy Laws Unsettled With Regard to “Stripping-off” an Unsecured Second Mortgage by Filing Chapter 7
For those of you living in the Sacramento area that have a second mortgage on your real property which is essentially “unsecured” due to the fact that the value of your house has fallen below the amount secured by your first mortgage may be able to stop the bank from…