The Small Business Reorganization Act of 2019 (“SBRA”) became effective February 19, 2020. The goal of the Act was to streamline the Chapter 11 process and reduce the costs for those debtors that qualify. Small businesses who are facing cash flow issues due to the...
Reaffirmation agreements only pertain to Chapter 7 bankruptcies. Occasionally, a creditor will want you to sign a reaffirmation agreement. Most car companies make the request for their car loans. Essentially, it is a contract that you sign after you file a Chapter 7...
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...
Filing for bankruptcy relief has some consequences. People always how will affect my credit. 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 discharge. A...
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...
