When you file bankruptcy, a notice is sent out to all creditors, including your car lenders and mortgage companies, whether your are current or delinquent. Post-petition, you will likely not receive any statements as they normally transfer your account to their...
https://www.youtube.com/watch?v=MGw3TU80bD0 Filing for bankruptcy relief has some consequences. Bankruptcy will remain on your credit report for 7 to 10 years depending on the type of bankruptcy. The time period starts from the date of filing not the date of...
The trustee you select is the key decision to assure your trust will serve your beneficiaries well. California law imposes a variety of duties and responsibilities on your trustee. For instance, a trustee is supposed to serve a 120 day notice on trust beneficiaries...
In general the answer is “no”. Once you file bankruptcy, credit card companies will know you filed whether you list them or not. Most credit card companies will close your existing accounts, even if you have a zero balance at the time of the bankruptcy...
Whether you file for chapter 7 bankruptcy relief or for chapter 13 bankruptcy relief, bankruptcy law allows you to keep certain assets (called “exempt assets”). Non-exempt assets need proper pre-bankruptcy planning to avoid them being sold for the benefit of your...
Chapter 13 bankruptcy requires that a debtor pay his or her disposable income for a period of 3-5 years. The ultimate question is how much does the debtor have to pay and for how long. One requirement is that the debtor must satisfy the “best interests of creditors”...
