by GPurkis | Nov 14, 2019 | Chapter 7 |
This entry is part 9 of 10 in the series Chapter 7 FAQsYes, but only with proper bankruptcy planning and counseling. All transfers/gifts of property, refinances of property, and sales of property within 2-4 years of the bankruptcy filing must be disclosed on the...
by GPurkis | Oct 31, 2019 | Chapter 7 |
This entry is part 8 of 10 in the series Chapter 7 FAQsA “secured” debt is a debt where you have pledged property (also known as “collateral”) to ensure your payment of the debt. In other words, if you are unable to pay the debt, the lender can take the collateral and...
by GPurkis | Oct 17, 2019 | Chapter 7 |
This entry is part 7 of 10 in the series Chapter 7 FAQsExempt assets are assets the person filing for bankruptcy can shield from creditors and the bankruptcy estate. In other words, they are untouchable assets and yours to keep post-bankruptcy. In California,...
by GPurkis | Oct 3, 2019 | Chapter 7 |
This entry is part 6 of 10 in the series Chapter 7 FAQsThe Chapter 7 Means Test is a qualifying test that a debtor must pass to be eligible to file a Chapter 7 bankruptcy. Most Chapter 7 debtors pass and are eligible for Chapter 7 relief. Note that there is a similar...
by GPurkis | Sep 19, 2019 | Chapter 7 |
This entry is part 4 of 10 in the series Chapter 7 FAQsGenerally speaking, the automatic stay stops foreclosures, repossessions, lawsuits, wage garnishments, and tax levies. It does not stop criminal proceedings or legal actions against you for support (such as child...
by GPurkis | Sep 5, 2019 | Chapter 7 |
This entry is part 3 of 10 in the series Chapter 7 FAQsThe bankruptcy automatic stay is one of the first protections offered to those who file for bankruptcy. The automatic stay takes effect as soon as the initial paperwork in a bankruptcy case has been filed. It is...
