Unlike Chapter 7 Bankruptcy, which liquidates most of a debtor’s assets in a relatively short period of time, Chapter 13 Bankruptcy allows a debtor to keep many of their assets if they are able to make payments on their debt over a period of time. This is called the Chapter 13 Payment Plan, and there…

Using the Wildcard Exemption in Your Chapter 7 Bankruptcy A Chapter 7 Bankruptcy is sometimes called a “liquidation bankruptcy.” This is because Chapter 7 Bankruptcy liquidates all of a debtor’s nonexempt assets in order to pay as much of their debts as possible. However, this term can be somewhat misleading in that not all of…

Consumer Debts vs Non-Consumer Debts There are many different types of debts in bankruptcy. Often the difference between whether a debt is secured or unsecured can be the difference between whether a person is able to get rid of that debt in bankruptcy. Another distinction which is particularly important in Chapter 7 Bankruptcy is the…

Ninth Circuit Rules Often the focus in bankruptcy is on debt; however, persons considering filing for bankruptcy should also keep in mind any possible sources of income. Because the bankruptcy process can take several months or even years, it is possible for the debtor to come by unexpected sums of money, such as an inheritance.…

For most people who are not bankruptcy lawyers, bankruptcy is an unknown, complicated process filled with technical jargon and legal rules. Understanding some of the terms used in bankruptcy can make the process less intimidating. This post addresses important terminology surrounding some of the documents that are at the core of the bankruptcy process –…

One of the most common ways for people to get into financial trouble is by accumulating too much credit card debt. Credit card debt can result from unexpected necessary expenditures, such as medical bills or car repairs, or it can be the result of poor credit management. This year’s State of Credit Report by the…

Ninth Circuit Court of Appeals Applies Narrow Interpretation Chapter 7 Bankruptcy can help debtors to reduce their debt by discharging unsecured debts. An unsecured debt is a debt that does not have an accompanying interest in property. However, certain types of unsecured debts, such as domestic support obligations and payments to former spouses, are exempt…

On January 14th, 2014, the U.S. Supreme Court heard oral arguments in Executive Benefits Insurance Agency v. Arkison. Because it is being appealed out of the Ninth Circuit, this case is being closely watched by Bay Area Bankruptcy Attorneys, and the Court’s decision could significantly change the role of Bankruptcy Courts. Executive Benefits follows the…

In 2011, the Casey Anthony murder trial made history as one of the most-watched trials ever when over 5.2 million people tuned in to view the verdict live on television. Last year, Anthony again made the news, this time for a legal issue related to her Chapter 7 Bankruptcy. In 2013, Anthony filed for Chapter…

You may wonder what recent developments in health care law, such as the Affordable Care Act, have to do with bankruptcy law. CNBC reports that unpaid medical bills are now the most common cause of bankruptcy, outnumbering credit card debt and home mortgages. In 2013, an estimated 650,000 Americans filed for bankruptcy because of their…