San Diego Bankruptcy Attorney Blog

A San Diego bankruptcy lawyer gets webby

If you’re reading this, you’re reading it on the web. Indeed, the internet is a wonderful resource. I regularly look to the internet for news about companies in bankruptcy or for broad reference to federal legislation which might have ramifications for bankruptcy law. These seem to me to be appropriate uses for the internet as it relates to bankruptcy. And I can see the benefit in understanding bankruptcy-related definitions catalogued on the web (like Googling “what is the automatic stay”). Just be careful looking too deeply into web postings for information related to YOUR specific financial situation. There really is no interactive Q&A that a website can do with you, and it is ultimately the specifics of your own, unique situation that is likely motivating you to conduct your web search. Accordingly, in light of the fact that Sagaria Law will give you a free consultation – and can be retained for as little as $100 – an in-person sit-down with a local San Diego bankruptcy attorney here at Sagaria Law is worth your time. You will assuredly find answers no website can give you.

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 chats about student loans

President Obama signed a bill today that revamps aspects of the federal student loan program. The main winner is the US taxpayer and the primary loser is banks, who have traditionally acted as middlemen on the loans (mostly, Sallie Mae). It is estimated that over $65 billion dollars will be saved over the next eleven years, and some of that money will be used to increase the funds available through Pell grants. The bill makes no change to the non-dischargeablility of student loans through a Chapter 7 bankruptcy; nor does it affect the permissibility of student loan arrears to be paid, interest-free, during a Chapter 13 repayment plan. And, of course, going to college won’t get any cheaper (it’s still a good idea, though!).

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 business and bankruptcy...

Reflecting on American Airlines’ interest in investing in Japan Airlines (JAL) even if Japan Airlines files for bankruptcy. Were I not a San Diego Bankruptcy Lawyer, I think I would have been taken aback at reading such a thing. To this author, and probably to many non-lawyer folks, a bankruptcy means you are broke or you are going out of business. Why would one company seek to invest in a company that might soon file for bankruptcy? Well, fortunately, I am a San Diego Bankruptcy Lawyer, and the answer lies in what it really means to go bankrupt (from a corporate perspective) and what the law allows a debtor-business to do during a bankruptcy. In short, it does not necessarily mean you are broke or a company is going out of business.
Unlike a consumer Chapter 7 bankruptcy or a Chapter 13 bankruptcy that would apply to John Q. Citizen on the street, a corporate bankruptcy is generally filed under Chapter 11. Where Chapter 7 bankruptcies are considered a “liquidation,” and Chapter 13 bankruptcies are called a “wage earner bankruptcy” or a “repayment plan bankruptcy,” Chapter 11 is known commonly as a “reorganization.” As a quick aside, do not be discouraged by the words “liquidation” or “repayment plan,” as, generally, those people who file for Chapter 7 bankruptcy get to keep all their property (and nothing is, therefore, liquidated) and, similarly, in a Chapter 13 bankruptcy, that which gets “repaid” is very often only a small portion of a person’s total unsecured debt (like credit card debt).

So, in the Chapter 11 bankruptcy applicable to Japan Airlines, they will get to reorganize their corporation pursuant to a plan between themselves and their creditors. Some debt may be forgiven; some may be rewritten or deferred; contracts are changeable; leases are re-evaluated; inventory may be sold or returned. Any number of options is available to Japan Airlines. So, when American Airlines considers investing in them, they are not buying into a sinking ship; they are merely making a calculated business decision to consider cooperation with, or ownership of, some or all of Japan Airlines’ healthy functionality. And as a San Diego Bankruptcy Attorney, I think it might well be wiser for American Airlines to invest in Japan Airlines AFTER a Chapter 11 bankruptcy. Japan Airlines’ debts might be minimized, their contracts more favorable, their business operations more streamlined, etc. This might make investment cheaper yet also more profitable to the investor. In sum, then, when you hear about bankruptcy, do not always assume the worst: filing for bankruptcy is often a wise option. Consult a local San Diego Bankruptcy Attorney with questions you might have about what filing a bankruptcy can do for you.

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 presents options regarding bankruptcy

Sometimes, people who are considering bankruptcy do so before they are late on any payments whatsoever. Of course, the usual situation is that you come to discover, perhaps all too late, that you cannot meet your financial obligations month-to-month. Well, sometimes the writing on the wall is just too plain to be unseen, and bankruptcy becomes an option before one payment is tardy. In these cases, it is important to consider that time may be on your side. It will take months and months before a creditor sues you or your collateral is threatened; and your bank account does not need to be at $0 for bankruptcy to be a good idea. Consider the case of the person where their car is so upside down that they want to surrender it to the bank as part of their bankruptcy. Here, it might be a great idea to purchase a new (or, rather, new for them) car while their credit is still good (or at least before the bankruptcy hits the credit report) so as to secure a better loan (with preferred interest rates). This strategy can even provide this debtor additional time to drive the car they are planning to surrender…for free. Of course, it is important to continue to insure this vehicle. Vehicle repossessions generally do not occur until one is 60 days late on payments or so, but this can fluctuate. The point is, consider contacting a local San Diego bankruptcy attorney to discuss your options. With training and experience comes insights you might not think about on your own.

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 talks short sale

Although the details are still “being fine-tuned,” it looks like the government may be dipping its feet into the short-sale process pool, in a continuing effort to mitigate the troubles in the real estate sector. Since it is short on specifics currently, just keep it at the back of your mind to learn how it all unfolds. Here’s one link:. What it seems to be is a government program similar to the HAMP (Home Affordable Modification Program) where incentives are given to lenders, but here, they include incentives to the seller. Issues such as fraud prevention and the treatment of junior lien-holders remain unresolved. Look for some type of government announcement on the program as early as April 2010. If you are foreclosing or about to foreclose, this could be welcome news. Or if you are contemplating buying, this could be another incentive to dive in.

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 relates information on the Denny Hecker situation

It’s not a case with as high a profile here in San Diego as it is locally there, but Denny Hecker is under some intense heat in Minnesota. Hecker once owned the Advantage Rent-A-Car chain but is now under federal criminal indictment for conspiracy and money laundering. His associated bankruptcy filing has led him to new trouble as the bankruptcy trustee assigned to his case, Mr. Randy Seaver, has filed new charges in Bankruptcy Court for fraud. The trouble, according to the Wall Street Journal, Pioneer Press, and Minneapolis Star Tribune, seems to be Mr. Hecker’s failure to disclose a Cadillac Escalade, Mitsubishi convertible, boats, six Harleys, gifts to his girlfriend, Rolexes, a vacation property, and other chattel. He owes his creditors more than $767 million dollars. So, while we local folk who might need a Chapter 7 or even a wage-earner’s Chapter 13 bankruptcy will never have $767 million in debt, keep in mind that the law applies just as much to you as it does to an alleged criminal. That is, the duty to report – truthfully – what your assets and debts are is fundamental, regardless of your income or station in life. Consequences can be severe, as the above story of Mr. Hecker indicates. Perjury and bankruptcy fraud are nothing to toy with. The law is there to help you; and the truth will not hurt you if you simply employ the law for the reasons it was written: in short, to provide a periodic fresh start to those in need.

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 weighs in on the Oscars

Without a lot of pomp or circumstance, Tom Hanks awarded the Best Picture Oscar last night to The Hurt Locker. Frankly, I thought the film was okay, at best. I didn’t see much point: maybe there’s an allure of war for adrenaline-junkies and, yes, war sucks, generally, but there was little else to the film. I found it well made, but that’s nothing special these days. Few directors – and even fewer distributors – put out poorly-made trash. I’m not saying that Avatar was Oscar-worthy; sure it was very, very pretty, but it lacked all but the simplest themes. A coloring book doesn’t deserve an Oscar. I liked the balloon-pic, Up, and I really liked the Clooney film, Up in the Air, but I just don’t see Best Picture in any of them. I could drag this discussion on, but what really matters is that anything I say is but one person’s unique opinion. And this particular person is not a member of the Academy of Motion Picture Arts and Sciences. But I am a consumer, and I vote with my wallet. And so, since I have no other dog in the fight, I guess I’d have liked to have seen Avatar win more awards, given that it’s the most successful film in movie history. Being a consumer is a powerful thing. Consumerism chooses winners and losers in business. After a bankruptcy discharge, you should feel a sense of great relief. Presumptively, your debt is reduced to zero. When given this fresh start, use your new freedom wisely. Choose only those credit cards which offer you small interest rates and no start-up fees (if possible). Spend wisely. Don’t overextend yourself financially. Remember that you won’t be able to get a discharge for another 8 years (maybe more if laws are changed). Be a consumer; the economy needs you. Just be wise and enjoy the fresh start that a San Diego Chapter 7 bankruptcy can afford you.

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 shares more on filing bankruptcy

When a Chapter 7 or Chapter 13 case commences, a hearing is scheduled. This is the 341(a), “the first meeting of creditors.” In keeping with this week’s theme of reasons to hire counsel, even in what you think might be an easy case, I offer two additional reasons related to this hearing. Firstly, without counsel, you probably don’t know what to bring to the hearing. Not only will you need a photo ID and proof of Social Security number, but the trustees in San Diego want other prove-up documents given to them within two weeks of filing the case. These documents include insurance information, pay-off amounts on secured property, valuations, income verification, and, if you are filing separately from your spouse, a § 703.140 waiver. If you know what this is already and how to get it (and everything else) to the trustee on time, so as to avoid the need to reschedule the hearing when you show up empty-handed, then you probably already have a lawyer…or ARE a lawyer. Fortunately, the forward-thinking Southern Section of California allows lawyers to send documents electronically to the trustees, but as a person without a lawyer, you will not have access to this computerized system.

Secondly, once you arrive at the hearing, what do you do? Do you go in the room on the right, even though the door is closed? Do you need to fill out documents? Well, yes, you go in the room on the right (for now, while the hearings in San Diego are being held at the Emerald Plaza
Building) but some trustees may want you to wait until the top of the hour, others won’t care. And, there are lots of forms on the wall, one of them is a trustee questionnaire; this needs to be filled out and given to the trustee at the start of your hearing.
These are, again, mere illustrations of some of the practical questions you’ll face when filing a bankruptcy, even in a “pretty simple” case. Lawyers are experienced (far more so than you in this field) and offer comfort and answers instead of worry and 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 talks about preparation for your petition

In keeping with my current theme about the benefits of retaining bankruptcy counsel – even in what you might deem a simpler type of case – I turn now to the most basic purpose of the attorney: petition preparation.

At the outset, unless you have filed a bankruptcy before, you are probably not at all familiar with the forms you’ll need. Not only are there Schedules (A through J) which list your assets and debts, but there’s a Statement of Financial Affairs, the creditor matrix, the separately-filed-for-security-purposes Statement of Social Security Number, voluntary petition cover pages, mandatory Exhibit D, Statement of Intention, and dreaded Means Test (and there are others). The Means Test alone is seven pages long; the Statement of Financial Affairs has twenty-five items; The mailing matrix has to be in a specific computer .txt format (so the court can scan and OCR it); and none of this includes filling out the Schedules themselves. I would particularly note Schedule C where you, the debtor, is given a choice between CCP § 703 and 704. Do you know which to choose and why? And once the petition is prepared, is that it? Are you done? Well, no. But tune in tomorrow for a discussion of what the trustee wants in anticipation the 341 hearing.

Please note that my point is merely to demonstrate that nuance and intricacies exist in bankruptcy-petition preparation. To those who know how to do it – i.e., a San Diego bankruptcy attorney – the petition preparation is not all that difficult. It is time-consuming, yes, but it is not difficult. Nonetheless, it is particularly this expertise and experience possessed by the lawyer that you seek. I know that I pay taxes every year, but I surely don’t know how to “do my own taxes” as well a professional within the field. I can’t run a restaurant. I can’t landscape a backyard. The knowledge in doing those things effectively comes from experience and training. But we can prepare a bankruptcy petition…and other things this blog will continue to address.

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 retaining an attorney for bankruptcy

There are many reasons to retain bankruptcy counsel, even if you think your case couldn’t be any easier. In the next few days I will discuss various – and specific – illustrations of the benefits of counsel.

Today, for instance, I had the occasion to contact one of my client’s creditors, a dental office. Because a dentist isn’t a credit card company, her office might not even be familiar with the procedures associated with debt discharge. The reason I had to contact the dentist’s office, in fact, was because the dental office had sent a bill to my client after the Chapter 7 case had been filed. By law, the “automatic stay” goes into effect once the case is actually filed. In practice, notice by mail still has to be provided to the creditors. In this particular case, the dental office had not yet received this notice by mail. Nonetheless, my client did not want to deal with this office anymore. I therefore called them, and sent a confirmatory follow-up fax, to advise of the case number and the Chapter of bankruptcy relief sought. I further told them that contacting the client beyond this point might constitute a violation of the Rosenthal Act or the Federal Fair Debt Collections Practices Act and subject them to sanctions. Because my client was still friendly with the dentist (unlike the impersonal relationship one might have with a credit card company or bank), my discussion and fax were cordial yet direct. Needless to say, the dentist’s office will not be contacting my client any more, just as my client had requested.

So, while the work of the local San Diego bankruptcy attorney in a Chapter 7 or Chapter 13 case is often-most related to the preparation of the petition and the attendance of the 341(a) hearing, ancillary benefits – like calling a local dentist’s office to get them off your back – is something a good and attentive attorney should be willing to do for you.

If you have questions regarding Bankruptcy in San Diego County, including Carlsbad, San Diego and surrounding 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!

Mr. John Doerr is an influential venture capitalist, primarily within the tech sector. He is a member of President Obama’s Economic Recovery Advisory Board and he is listed on Forbes’ “Midas List.” In sum, what he says about economics is akin to gospel, although less so than the other “John” whose book actually is a gospel. John Doerr has noted that “it is O.K. to fail and in fact it might even be important that you failed before on someone else’s money.” This quote is a starting point for a discussion of bankruptcy within the book The Lexus And The Olive Tree by Thomas L. Friedman (Macmillan, 1999). While Friedman’s book is an investigation into prosperity and globalization amidst the desire to retain cultural roots, he discusses, in one portion of the book, what type of country a fictional visionary of 1900 earth would have designed to compete in the global economy of the year 2000. This “geo-architect,” as he is deemed, discusses how the ideal nation would stretch from ocean to ocean and be diverse and multicultural, yet would have a common language that itself would dominate all international business; the nation should have an honest legal system and be well regulated; it would be democratic in nature, etc. Additionally, though, the ideal nation would support innovation (i.e., by protecting patents and promoting venture capitalism). This would naturally yield an increase in bankruptcies, however: trying very often means failing very often and failing means losing money and having to start over. This is bankruptcy. Yet, this explosion of bankruptcy is not a discouraging thought. Mr. Friedman writes that, “He [the geo-architect] would have designed a country with a system of bankruptcy laws and courts that actually encourage people who fail in a business venture to declare bankruptcy and then try again, perhaps fail again, declare bankruptcy again, and then try again, before succeeding…”

As I regularly discuss within this blog, failing is a natural part of business. If a business fails and you have personal liability, you can file for a Chapter 7 bankruptcy (and avoid the means test, too). Or if you are the unfortunate employee of a failed business and you have consumer debt as a result of lost income, you can also file for a Chapter 7 bankruptcy (subject to the means test, though). Or you can file a Chapter 13 bankruptcy in either circumstance, as a Chapter 13 is always voluntary. Similarly, a company can file for bankruptcy (Chapter 11, generally). It’s all just part of the business and finance model in America. Don’t hesitate to contact a local San Diego bankruptcy attorney to discuss your options.

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 lawyer talks to federal codes...

I don’t want to get technical here…and neither, apparently, does the United States’ government!

A year ago this month (that is, in March 2009), the Supreme Court of the United States approved a number of amendments to various federal codes. The Supreme Court has this power due to their oversight of federal courts as proscribed the Constitution. So, in a rare, simultaneous unification of all three branches, the Supreme Court “approved” that which Congress “passed” and the President “signed:” the Statutory Time-Periods Technical Amendments Act of 2009. The thinking of the courts and legislators (specifically Senator Leahy who introduced the bill) was to simplify calculations so as to eliminate weekends and holidays being the days on which deadlines fell and to promote consistency within the codes. Now, that which was a “5 days” deadline has become “7 days;” 10 and 15 days have become 14 days; 20 days has become 21 days; and 25 days has become 28 days.

Now, given this commitment to treating deadlines in terms of weeks (7 days is one week, 14 days is two weeks, etc.) it’s much easier to know when things are due. And since no papers are ever filed on a weekend, there can be no need for a deadline to come due on a weekend. The relevancy for bankruptcy is that an emergency (or “face sheet”) filing must now be completed within 14 days after getting the case number. An emergency filing, of course, can be of great assistance to the Chapter 13 debtor in need of the implementation of the automatic stay provisions. The “face sheet” saves many homes from foreclosure every day in America. It is a powerful tool that homeowner-debtors are grateful for. The Schedules, though, must now be completed in two weeks, rather than two weeks and a day. Having an experienced lawyer can be vital with respect to deadlines and obligations.

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!