What are some of the dangers of borrowing against your 401k or retirement plans? How does this affect your ability to file for bankruptcy protection?
Subscribe via RSS
Los Angeles Bankruptcy Blog: Current issues, comments, questions and answers in bankruptcy law.
Category Archives: chapter 7
H is for House and How to Keep it in Bankruptcy
Your House: Can you keep it in bankruptcy? And if so, what other options are available? How to calculate equity.
Warning: Check That Reaffirmation Agreement Before Your Bankruptcy Discharge Is Issued
You filed for Chapter 7 bankruptcy and had a balance due to the lender. Faced with what seemed to be certain repossession, you agreed to sign a reaffirmation agreement. All set, right? Not necessarily. There’s a moment in time when you reach a point of desperation. You need that car to get to work each…
How Do I Know Which Debts Were Discharged In Bankruptcy?
Once you get to the promised land in a bankruptcy case–the date your discharge is granted–there is frequently confusion among many as to which of their debts were in fact discharged. The confusion stems from expectations that there is some official specific ruling as to each debt. That would be nice, but it’s not the…
Chapter 7 Qualifications: Credit Card and Student Loan Payments Don’t Count
Credit card and student loan payments do not factor in to the analysis for determining Chapter 7 eligibility. It seems not a day goes by that I’m not trying to explain to a potential client why their payments to debts owed to unsecured creditors do not count in their budget in determining eligibility to file…
Bankruptcy Doesn’t Affect Co-Signers’ Obligations
The bankruptcy of one party does not affect the liability of another party, whether they be a co-signer or co-obligor on the debts. Bankruptcy discharges the obligation to pay on a debt; it does not eliminate the debt itself.
Means Test Median Income Figures Reduced Again
Median Income levels for bankruptcy means test being lowered for cases filed after October 31, 2010
Should Your Corporation File Bankruptcy?
When does it make sense to file a Chapter 7 or Chapter 11 case for a corporation, LLC, or partnership?