San Diego Bankruptcy Attorney Blog

A San Diego bankruptcy attorney lets you know what a debt creditor law firm is...

A debt creditor law firm is the legal representative of the lender. A debt creditor law firm will often send you harassing letters threatening lawsuits. Sometimes they will follow through with this and sometimes they will not. In any event, if a debt creditor law firm has your case, it means that it has gone from original lender to collection agency to a law firm (or, more likely, a lawyer or law firm within the collection agency). The involvement of a debt creditor law firm is the final step before a lawsuit is filed or the case is written off by the collector. Take a letter from a debt creditor law firm seriously but do not let their threatening and harassing “legalese” scare you. A debt creditor law firm cannot do anything more to you than any typical creditor. There must be a lawsuit filed (in nearly all cases) before any collection action can occur. After that, a garnishment or levy may ensue.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Diego bankruptcy attorney remarks on Bankruptcy and Loan Modification in California...

Loan modification in California is popular topic. On the heels of the precipitous decline in the housing market experienced in the last few years – and predicted by some to last until 2013 and possibly longer – loan modification in California is an exciting option for many homeowners. Reduced monthly mortgage payments might make it easier to hold onto a home or might make choosing to do so advantageous in the long run. Ultimately, though, loan modification in California is not a guarantee. Being behind on mortgage payments or being “upside down” on your property does not necessary mandate that the lender modify the terms of its contract with you. A good place to read about loan modification in California and how the federal government is trying to promote modifications can be found at the HAMP website: please click here. Be wary of those trying to take advantage of your investigations into loan modification. While services can help, there are many who are unscrupulous. Loan modification in California is a serious consideration: in effect, you are buying a new home again, albeit your own home and the seller is you, but the modified loan is just like your original loans. If you fail to make your payments, you could lose your home.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Diego bankruptcy attorney asks: What about a student loan and bankruptcy?

Echoing the discussion in this blog recently about IRS tax debt and bankruptcy, a student loan and bankruptcy often see the student loan surviving even a successful discharge. Tax debt, a student loan and bankruptcy are often the opposite of medical debt, credit card debt and bankruptcy. But the ultimate question is: can a student loan and bankruptcy actually result in the discharge of that student loan? The answer may be yes. You should be begin by examining your student loan documents (promissory note). If the debt is personal loan and not listed as a student loan, you might not be dealing with a student loan at all, even if you chose to use the funds for education. Next, determine if your student loan was federally funded. If so, your student loan and bankruptcy will probably yield a non-dischargeable debt.

But if you have a private loan and that school is one that is not described by section 481 of the Higher Education Act of 1965 (see 20 USC § 1088) or is not eligible to participate in Title IV, your debt could be discharged through a Chapter 7 or Chapter 13 bankruptcy. All of this is highly complex. When dealing with a student loan and bankruptcy, your best advice is to discuss it with an attorney who can look at your specific situation.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Deigo bankruptcy attorney offers info on this debtor question: Where Can I Find a Means Test Calculator?

You can find a Means Test Calculator simply by inputting it into a search engine. You’ll want to be sure the means test calculator is up to date. That is, the means test calculator should be using as the median income for the state you are inquiring about that which the United States Department of Justice (United States Trustee Program) updates on its website. In fact, if you are under this threshold amount – and it changes depending on the size of your household and the state you are filing in – you need not employ a means test calculator at all. Nonetheless, the aforementioned federal website with the current income thresholds is reached by clicking here. If you do find, after running through the means test calculator, that you “do not qualify,” do not be alarmed. It is likely that most Bankruptcy Attorneys more experienced than the average debtor at administering the the means test, so your first exposure to an online means test calculator might not be totally accurate. An online means test calculator, though, is a reasonable first place to start.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Diego bankruptcy attorney asks: What will bankruptcy do to IRS tax debt?

A San Diego bankruptcy attorney answers: What Will Bankruptcy Do To IRS Tax Debt?

As a rule of thumb, assume your IRS tax debt is not going to be dischargeable through bankruptcy. This, as it turns out, is the case in most instances where a debtors owes IRS tax debt. Nonetheless, there are means by which IRS tax debt can be discharged just like a credit card debt or medical bills. If the debt was filed on time in the year it was due and if the debt is now three years old or order, there is a good chance this debt might be dischargeable. IRS tax debt does not include property tax: such debt is linked to the property. Similarly, IRS tax debt does not include payroll taxes owed for employees of the debtor.

A bankruptcy can help with repayment owed on IRS tax debt – even if, as discussed, that debt will not be discharged. Consider that a Chapter 13 repayment plan can allow for the repayment of taxes over the course of the plan. It would work similarly to student loan debt: they are both not dischargeable but may be treated as priority debts over the course of the plan. This means that since you would have to pay them anyway, you have basically lost nothing…except the unsecured debt that would subject to discharge. When considering if bankruptcy is right for you, whether you have IRS tax debt, student loans, or just a lot of credit card debt, consultation with a bankruptcy attorney can help get you answers to difficult questions.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Diego bankruptcy attorney on bankruptcy fraud

Bankruptcy fraud is a serious matter. This website is the United States Trustees’ office webpage for reporting a bankruptcy fraud.

The reported case of Rhonda Marsalis is a bit disturbing: she faces up to 30 years in prison and up to $750,000 in fines for, as it is reported by the local news in Jackson, Mississippi, obtaining “a mortgage of more than $250,000 and [filing] bankruptcy after learning foreclosure proceedings had been started less than a year after she received the loan.” Something else must be amiss here because filing a bankruptcy related to foreclosure is common, and is no way criminal. An actual, typical bankruptcy fraud case is that of Robert A. Grant in 2004. He created trusts and corporations to whom he transferred his assets in anticipation of bankruptcy, filed for bankruptcy, and afterwards distributed the property from those shell entities back to himself. He was sentenced to just under three years in federal prison. The current bankruptcy fraud case of former auto mogul Denny Hecker is in the media spotlight in Minnesota. He is accused of failing to report his true assets and faces 15 charges in U.S. District Court in Minneapolis. The point is, bankruptcy fraud is taken very seriously by the United States government, and rightfully so. Bankruptcy is an outlet when faced with troubles. Those who abuse the system are asking for more leniency than the already lenient laws allow.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Diego bankruptcy attorney explains: What is a Monthly Operating Report?

A Monthly Operating Report (often called an “M.O.R.”) is a periodic snapshot of a debtor’s finances. This monthly operating report allows the creditors in a Chapter 11 bankruptcy to see the status on the debtor’s financial situation. This is crucial because the creditor must assess how it will (or if it will at all) modify its debt or contracts with the debtor through the bankruptcy. Recall that a Chapter 11 is a reorganization. Unlike a Chapter 13, however, where the court can compel a lender to change what is owed to it or declare a lien wholly unsecured, even over the lender’s objection, a Chapter 11 is a chorus of creditors and lenders agreeing to accept modified terms of debt repayment independent of the court. A monthly operating report allows the creditor to see into the debtor’s cash flow, inventory, business model, corporate structure, etc. to decide how far it is willing to bend. A debtor’s failure to timely prepare and submit the monthly operating report can be grounds for dismissal of the case. This makes sense, for without the monthly operating report, the Chapter 11 bankruptcy cannot be advanced: it takes informed decisions to reorganize and the M.O.R. is the means of conveying that information.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Diego Bankruptcy attorney discusses: What do I do if I receive a notice of eviction?

In California, a notice of eviction is generally called a “Notice to Quit” or a “Notice to Pay Rent or Quit.” The term “quit” can be read loosely as “leave the rental” (i.e., quit the lease contract). If you receive a notice of eviction without language saying that you can cure the problem by paying rent, you may be compelled to move out. If your notice of eviction declares a right to pay rent or quit, then surely paying rent will get you back in good standing. There are many laws associated with tenant/landlord issues and you would be wise to consult an attorney or, at the very least, literature of legal resources, to understand your complete rights and obligations. Nonetheless, a notice of eviction does not necessarily mean you must move out immediately. You should have the right to challenge the notice of eviction. Perhaps, for instance, heat or electricity was not provided or you had to pay for your own repairs on the property. In such an instance, you might be entitled to deduct certain expenses from the rent owed. This would limit the amount of rent paid. The landlord may not be legally able to evict you for such a withholding. Finally, if you get a notice of eviction, you can wait for the unlawful detainer (the legal term for a court case where the relief sought is eviction) and answer and defend it in court. You might also consider, when faced with any type of notice of eviction, including a foreclosure or trustee’s sale of your home, a bankruptcy. A bankruptcy creates an automatic stay, thereby buying time to get your affairs and/or legal defenses in order. A notice of eviction can be a scary thing, but you do have rights. Be sure to investigate them. Speaking to a lawyer is your best bet.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Diego bankruptcy laywer addresses what you can do to remove debt?

You can do many things to remove debt. The first is to pay the debt according to the original contract terms. If the contract allows you to pay more than a certain amount, you would be wise to do so, if able, because it will more swiftly remove debt from your credit report and it will reduce the amount you must pay over time due to interest rates. Similarly, if you do get behind on debt repayment, you can contact the lender and structure a rehabilitation program whereby you remove debt by again paying it off, but this time, pursuant to modified terms. This is, in essence, the creation of a new contract to replace the old one. Some people, in an effort to remove debt, hire a debt consolidation company. Be very weary of these groups – even the non-profit ones – because their aim may not be to reduce the overall principal of the debt owed but merely to keep the creditors from suing you (and thereafter garnishing a wage). The most important aspect of a consolidation is to remove debt permanently, by reducing principal. Also, these companies can charge very high fees. Consider as well that these agencies are doing something that, with effort, you yourself can do by contacting your lenders and working something out to remove debt from their books. Finally, a bankruptcy is your surest way to remove debt other than paying it off. A bankruptcy affords you, the debtor, a discharge. When your case is successfully completed, everything you owe on credit cards, medical bills, and personal loans, as well as other types of debt is permanently brought to zero. Now, you cannot get a discharge if you received one in the last eight years, but it will remove debt from your credit report instantly and get you a fresh start, debt-free.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!

A San Diego bankruptcy attorney What is a bankruptcy exemption?

A bankruptcy exemption is, in short, that which allows you to keep your property in a bankruptcy. In legal terms, it works like this: when you file for a typical Chapter 7 (though it works similarly in Chapter 13s), everything you own is given to the trustee; there are, however, certain exceptions for what constitutes “everything.” These are the bankruptcy exemptions. Whatever property you list is exempt from the trustee’s grasp. For instance, if you list as a bankruptcy exemption “$5000 cash,” then the trustee does not get that $5000. If you fail to list it is as a bankruptcy exemption, however, the trustee does get it. Of course, there is a limit as to what you can list as a bankruptcy exemption. $5000 is reasonable but $50,000 is not. The determination of how much property you can fit into the bankruptcy exemption schema is defined by statute. Protecting your assets through the use of and understanding of bankruptcy exemption rules is what lawyers do. Most California debtors end up keeping everything they own when they file for Chapter 7. This is due to the work of the lawyers applying the bankruptcy exemption laws correctly as well as fairly liberal California bankruptcy exemption rules.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surround cities in San Diego County please contact us at (760) 579-7322 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Diego Bankruptcy Attorneys. After you have spoken with one of our San Diego bankruptcy attorneys, we can schedule you for a free face to face appointment in our Carlsbad bankruptcy office. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Deigo consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Southern California!