San Jose Bankruptcy Lawyer Blog

A San Jose bankruptcy attorney provides a Business Creditor and Debt Overview

The majority of creditors are business creditors. There are very few personal creditors listed in bankruptcy, as many people do not have the money to loan these days. The greater part business creditors consist of credit card agencies. These debts are most often dischargeable and these business creditors rarely seek any kind of recovery. While personal debts are still dischargeable in bankruptcy, business creditors take the largest hits. Business creditors can afford to take these kinds of risks based upon the interest rates, late fee, and penalties they assess on each account. Business creditors can really hike up interest rates when a debtor misses a monthly payment. Often times, the business creditor will raise the interest rate to a point where the debtor will never be able to pay it all off and must either choose a life of indebtedness or filing for bankruptcy.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy attorney mentions an item you need to complete once you file bankruptcy in San Jose:

After your bankruptcy case is filed, it is required that you take and complete an approved course in personal finances. This course, often referred to as a debtor education course, will take approximately two hours to complete.

Most times, you are able to take the financial counseling course online (with video), in-person at a designated credit counseling location, or over the telephone. Your bankruptcy attorney can give you a list of organizations that provide approved courses. Some bankruptcy attorney offices, such as Sagaria Law, have computer stations set up at their location so you can easily access this very necessary step to complete your bankruptcy.

It should be noted here that there is also another counseling course that is required prior to filing bankruptcy called a credit counseling course. It is also easily accessible if you are working with a capable bankruptcy firm.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy lawyer lets bankruptcy filers know if they have to go to court....

In most bankruptcy cases, you only have to go to a proceeding called the “meeting of creditors” to meet with the bankruptcy trustee and any creditor who chooses to come. Most of the time, this meeting will be a short and simple procedure where you are asked a few questions about your bankruptcy forms and your financial situation.

Occasionally, if complications arise, or if you choose to dispute a debt, you may have to appear before a judge at a hearing. If you need to go to court, you will receive notice of the court date and time from the court and/or from your attorney.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankrutpcy lawyer chats on Chapter 7 and business

Protection under Chapter 7 of the U.S. Bankruptcy Code is available to individuals, sole proprietorships, ‘dbas’, partnerships, and corporations. It is not uncommon for a business to file for Chapter 7 bankruptcy in order to alleviate its debts and financial burdens. Without the protection of Chapter 7 bankruptcy to businesses, less and less small business owners would be less likely to open their doors and take a chance.

Most people think that only Chapter 11 or Chapter 13 bankrupctcies are available to businesses, but they are mistaken. It is highly unlikely that a small business can survive a Chapter 7 and just get back up and running. It will take some time and likely some outside investment/help in order for a business to get up and running following a Chapter 7.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankrutpcy attorney suggests 5 tips to help with student loan debt

Student loan debt can be some of the most difficult debt to repay. However, student loan debt is known as “good debt.” Student loan debt is debt incurred in order to further or better one’s financial situation. For the most part, student loan debt is not dischargeable in any chapter of bankruptcy.

The first tip with student loan debt is to make timely payments. This is essential since most student loan debt is backed by government money. The second tip on student loan debt is to take out only that which you need in order to get through school. A third tip on student loan debt is to use your student debt in place of credit cards. The interest rate is often times lower on a student loan and you don’t have to repay the balance until you finish school. A fourth tip on student loan debt is to find a co-signor. A co-signor such as parents or spouse will likely lower the interest rate of the loan. And lastly, a fifth tip on student loan debt would be to stay in school, regardless of how minimal it is. This way, you can continue to defer payments until you are established in a well paying job.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy attorney blogs on the Question: Can I file bankruptcy while unemployed?

Answer: Yes. A debtor can file bankruptcy while unemployed. Generally, a debtor must provide six months worth of pay stubs when they submit their petition. If, however, a debtor is unemployed, they must simply file a declaration of unemployment with the court. Thus, a debtor can file bankruptcy while unemployed.

While a debtor can file bankruptcy while unemployed, if the debtor has no means of income a debtor probably will not be able to file a "feasible" Ch. 13 plan. An experienced attorney can provide guidance in these situations.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy lawyer Bankruptcy & Consumer Debt Counseling

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 completely transformed bankruptcy. One of the major changes made by the BAPCA was to implement a mandatory pre-filing consumer debt counseling course. The BAPCA also created a mandatory post-filing, pre-discharge consumer debt education course.

The pre-filing consumer debt counseling course is taken with an approved credit counseling organization and includes an overall evaluation of a debtor’s current monthly income and expenditures. The consumer debt counseling course attempts to help the individual filing for bankruptcy create a monthly budget and cut out excess spending. The consumer debt counseling course can be taken either online or over the telephone and lasts approximately one hour. The credit counseling certificate is valid for 180 days from the date the course is taken. The credit counseling organization will then issue a certificate of completion which is filed with the court.

The post-filing, pre-discharge course is also provided online and over the telephone. This course generally takes more time than the pre-filing course and includes information on creating and implementing a budget, managing one’s money post-discharge, and using credit wisely and effectively.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy attorney comments on the Means Test And Chapter 7

The 2005 changes and amendments to Section 11 of the United States Code (U.S.C.), the Section that deals with bankruptcy, were designed to prevent alleged abuse of bankruptcy and to require that debtors pay for those debts which they knowingly incurred. The legislation made it much more difficult for the average American to file for, and eliminate, their debt. It appears that the legislators want to a make Chapter 7 bankruptcy discharge tougher to obtain and push debtors into a Chapter 13 repayment plan.

One of the major changes/additions in the 2005 legislation was creating the “means test.” This test is a two part test which takes into account the disposable income a debtor brings in after his/her living expenses are taken into account. Obviously, those who are deemed to have too much monthly excess income will not be allowed a Chapter 7 discharge and will be forced to either file under Chapter 13, or not file at all. Under the old laws, judges and trustees had more discretion in their decisions and could judge each case by its own unique circumstances.

A formula was devised which exempted “survival” expenses, such as food and mortgage, and looked at the excess income. Should said monthly income exceed twenty-five percent (25%) of their unsecured nonpriority debt (mainly credit and department store cards, medical bills, and personal loans), the debtor may not file for Chapter 7 bankruptcy. The second part of the test measures the debtor’s income to the state’s median income and if the debtor’s families combined gross income is greater than the median income for that state, the debtor may need to file for Chapter 13 bankruptcy.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy attorney explains how to rebuild your credit after bankruptcy:

While a bankruptcy action will be reported on your credit report for up to 10 ears, you can start rebuilding your credit immediately. One of the most important factors in your credit is your debt-to-income ratio. If you have more outstanding debt than you have the ability to pay, your credit is probably not very good. Filing for bankruptcy will eliminate most of your debts and will reduce your debt-to-income ratio – likely to improve your credit in the long run.

Once you have filed for bankruptcy, you will not be able to file again for 8 years. This is why there are many lenders that will actively solicit business from people who have filed for bankruptcy. To rebuild your credit, you may need to obtain a credit card. You can demonstrate to lenders that you are determined to slowly rebuild your credit by managing your money and credit card wisely. Many people will be able to finance for cars as well as homes within a year or two after discharge, although the interest rate may be higher than average.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy lawyer helps with "I Need Help With My Loan Modification, CA resident!!!"

What is a loan modification in CA? A loan modification in CA is when your lender agrees to modify the terms of the mortgage in order for you to afford your monthly payments and stop foreclosures. A loan modification in CA often requires the borrower to be in arrears on their monthly mortgage payments. When attempting a loan modification in CA, since you usually must allow your mortgage to default, it is wise to place each monthly mortgage payment into a savings account should the modification not go through. That way, your loan modification failure can be easily cured and you will not lose your home. When considering a loan modification in CA, lenders often look at the amount owed, the equity in the house (if any), and the borrower’s ability to continue to make monthly payments. Though not often obtained, a loan modification in CA help to alleviate California’s number one ranking on the foreclosure charts.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy lawyer has Six Tips For Bankruptcy Chapter 7 ...

Here are six tips for filing bankruptcy under Chapter 7. The first tip for filing bankruptcy under Chapter 7 is to make sure that you are current on your home mortgage. If you are not current on your home mortgage and intend on keeping your home, the lender will attempt to foreclose on the house. The second tip for filing bankruptcy under Chapter 7 is to stop paying your credit card bills and all other unsecured bills. These debts will be discharged regardless of how far behind you are on payments.

The third tip for filing bankruptcy under Chapter 7 is to make sure that all your taxes are filed. Despite rumors, taxes may be dischargeable under a Chapter 7 bankruptcy. The fourth tip for filing bankruptcy under Chapter 7 is to place all your exempt money in certain investments, including fully funding your IRA, paying off arrears, or pre-paying any property taxes or homeowner’s dues.

The fifth tip for filing bankruptcy under Chapter 7 is to not take any overtime or bonuses within six months of filing bankruptcy. The means test averages your last six months income, regardless of irregular bonuses or pay raises. Lastly, the most important tip for filing bankruptcy under Chapter 7 is to hire an attorney. Many people feel that filing for Chapter 7 bankruptcy is easy and that they can do it when in reality it is very difficult and a small mistake can lead to huge repercussions.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy lawyer makes note of a famous Chapter 9 Bankruptcy

Chapter 9 bankruptcy is only available to municipalities. Since its creation in 1934, there have been several famous Chapter 9 bankruptcy filings. The most recent and famous Chapter 9 bankruptcy was Vallejo, California’s filing in 2008. Vallejo was faced with decreasing tax revenue, rising pension costs, and strong public-employee unions. Two years later, Vallejo is now emerging from its bankruptcy, unfortunately not much stronger than its pre-filing status.
Other famous Chapter 9 bankruptcies include Orange County, California in 1994 and Desert Hot Springs in California due to lousing a housing discrimination lawsuit. Prichard, Alabama is another famous Chapter 9 bankruptcy premised upon its inability to fund its pension plans. Topping the list of weird famous Chapter 9 bankruptcy filings would include Moffett, Oklahoma, which was forced to file for Chapter 9 bankruptcy due to its inability to issue or enforce traffic tickets.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

Chapter 13 Information For The Person Filing

There is a lot of information that goes into a Chapter 13 bankruptcy and here is some of the Chapter 13 information for the person filing. First, your attorney may not charge a base fee of more than $1,999. However, a piece of Chapter 13 information for the person filing to know is that they debtor(s) will pay the attorney an extra base fee over the life of the plan in order to compensate the attorney for continuing to maintain the case. Another piece of Chapter 13 information for the person filing is that the Trustee will take a percentage fee each month for their work distributing the plan payments to the creditors.

Another piece of Chapter 13 information for the person filing that many people do not know is that you must remain current on your mortgage payments after you file for bankruptcy. Your pre-petition arrears will be paid over the life of your plan, but if you fail to make your monthly mortgage or car payments following filing, the creditor will likely file a Motion for Relief from Stay in an attempt to take the property.

Lastly, and probably the most essential piece of Chapter 13 information for the person filing is to never miss a plan payment. Payments must be made in certified funds and sent to the Trustee in a timely manner every month or the Trustee will file a Motion to Dismiss based up lack of funding to the plan.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy attorney answers a popular consumer question with regarding to filing bankruptcy: What is a secured debt?

Answer: Secured debt is any debt that is “secured” by a lien on some collateral. Generally speaking secured debts usually include a debtor’s home and car. In some rare cases credit cards have a purchase money clause that grants the lender a right to repossess any item purchased with the card. This would be also be a secured debt.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy lawyer talks about filing Chapter 11 in California ...

Filing chapter 11 bankruptcy in California is more commonly known as a reorganization bankruptcy. The court charges a $1,000 filing fee for filing Chapter 11 in California. When filing Chapter 11 in California, the petition looks almost identical to a Chapter 13 bankruptcy with the same schedules and statements. Once an individual files for Chapter 11 in California, he is then known as a ‘debtor in possession.’ Generally, the debtor, as "debtor in possession," operates the business and performs many of the functions that a trustee performs in cases under other chapters. Once the Chapter 11 is filed in California, a creditor’s committee is formed to submit their own repayment plan to propose to the court, in opposition to the debtor in possession’s plan. The debtor in possession may use, sell, or lease property of the estate in the ordinary course of its business, without prior approval from the court.

What happens to the shareholders or partners when a business files Chapter 11 in California? An equity security holder is a holder of an equity security of the debtor. An equity security holder may vote on the plan of reorganization and may file a proof of interest, rather than a proof of claim.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy attorney discusses Bankruptcy Law Statutes

First, what is a bankruptcy law statute? The Constitution granted certain powers to Congress. One of those powers included establishing uniform laws on the subject of Bankruptcy throughout the U.S. Thus, bankruptcy law statutes were born. All of the federal bankruptcy law statutes are contained within Title 11 of the United States Code. There are general federal bankruptcy law statutes which any debtor can default to should their own state’s bankruptcy law statutes not provided sufficient protection or they do not qualify under the state bankruptcy law statutes. Bankruptcy law statutes also govern the criminal aspect of bankruptcy including bankruptcy fraud, which are primarily focused upon the mental intentions of the debtor. Bankruptcy law statutes also govern such things as wage garnishments and bank levies.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy lawyer lists Six Tips to Avoid Bankruptcy Fraud

There are several ways to avoid bankruptcy fraud, but here are six of the major tips to avoid bankruptcy fraud. First, be open and candid about your assets. California has one of the most diverse and debtor-friendly exemption lists in the United States. By disclosing all of your assets, the trustee has no reason from the get-go to assume bankruptcy fraud. A second way to avoid bankruptcy fraud is to not file for bankruptcy in more than one state. If you must file in more than one state, be sure to follow tip number one.

A third way to avoid bankruptcy fraud is to not attempt to bribe the trustee with money or other valuables in order to hide assets that might not be exempt. A fourth tip on avoiding bankruptcy fraud is to completely fill out the bankruptcy petition and not leave anything blank or ambiguous. Hiring an attorney is the easiest way to ensure that all information is accurate and in the appropriate schedules.

A fifth way to avoid bankruptcy fraud is to not use an alias or “aka” and file for bankruptcy multiple times. There is a calendar limit to how often an individual can file for bankruptcy. Lastly, a great way to avoid bankruptcy fraud is to not illegally make yourself insolvent, meaning transferring all your assets to offshore accounts, family members, etc. The trustees are governmental employees and have their ways to find out information that you would not have otherwise thought they could obtain.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

Who Do I Need To Pay in a Reorganization Plan?

A Chapter 11 bankruptcy is a way to reorganize and rehabilitate a debtor with his/her/its creditors. In addition to the standard bankruptcy petition filed in a Chapter 7 bankruptcy, a Chapter 11 bankruptcy contains a reorganization plan prioritizing payments to certain creditors. A Chapter 11 bankruptcy is used by those debtors whose debts to creditors are too large to fit into a Chapter 12.

Once the Chapter 11 petition is filed and the creditor matrix is uploaded, the court will send notice to all unsecured creditors of the filing and ask whether they would like to be part of the unsecured creditors committee. This committee can submit its own reorganization plan in opposition to the debtor’s reorganization plan. A plan must, at minimum, repay those creditors in the amount they would have received had the debtor filed for Chapter 7 bankruptcy.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy lawyer address the commonly asked: Can I save my business through bankruptcy?

Absolutely an individual can save their business through bankruptcy. The most common way to save a business through bankruptcy is to file for Chapter 11 bankruptcy protection. This is known as the reorganization of a business through bankruptcy and what you mostly hear about in the news. In order to save a business through bankruptcy, the business must reorganize itself pursuant to certain standards set in place by the Bankruptcy Code and Trustees. There are several types of businesses out there including a sole proprietorship, a limited liability corporation, and a corporation just to name of few. Bankruptcy can save any of these types of businesses and reorganize them through a plan and get them back on their feet. Municipalities file for protection under Chapter 9 which is similar to Chapter 11. Bankruptcy is the main way to save a business that is struggling or is under water.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!

A San Jose bankruptcy attorney answers the question:

How do I stop foreclosure in San Jose, CA?

Purchasing a house can be an exciting and life-changing event. On the other spectrum, going into default and foreclosure can be just as scaring and depressing. The easiest and quickest way to stop foreclosure in San Jose is to file for bankruptcy. The automatic stay of bankruptcy will stop foreclosure for the time being. This will allow the individual some time to either find a new place to live, or come current on the arrears. Often times, when a person files bankruptcy to stop foreclosure and save their house, they file for a Chapter 13 bankruptcy. A Chapter 13 bankruptcy will stop the foreclosure and generally allow a person to pay the arrears over a period of five (5) years so long as they are current on the mortgage payments following the filing of bankruptcy. This period of time following the filing of bankruptcy allows the individual to wrap up their financial affairs and look to the future without the stress of the looming foreclosure.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers 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, San Jose and the South Bay!