After filing your bankruptcy case and satisfying all the requirements of the court you will receive a discharge in bankruptcy. The discharge is what officially eliminates your unsecured debts, such as credit card debt. When you file a Chapter 7 bankruptcy, your creditors may file claims to dispute the amount that you owe until your debt is discharged. After a discharge of debt, a creditor is not able to collect on that debt again. If you are asking yourself: "Can I file bankruptcy?" the … [Read more...] about Bankruptcy Discharge – What Debts Are not Discharged in Bankruptcy?
Lemon Law Blog
Secured and Unsecured Debt – What Is the Difference?
In bankruptcy, there are two general types of debt – secured debt and unsecured debt. The type of debt is important because it will determine how much the creditor may receive in bankruptcy. For example, someone filing bankruptcy to wipe out credit card debt will most likely eliminate the debt without having to pay any portion back to the credit card company because it is an unsecured debt. On the other hand, a car loan will most likely have to be paid back because it is secured against the car; … [Read more...] about Secured and Unsecured Debt – What Is the Difference?
Benefits of Filing for Bankruptcy
Immediately upon filing your bankruptcy case for the first time, an automatic stay in bankruptcy is put in place to stop any and all creditor action. That means that a court order is automatically put into place to stop creditors from calling. If a creditor calls after filing bankruptcy, you can demand that they stop collection calls or they will face severe penalties for violating a court order of automatic stay. When you file for bankruptcy, you will still have to deal with correspondence … [Read more...] about Benefits of Filing for Bankruptcy
What Chapter Bankruptcy Should I File
In a Chapter 7 bankruptcy, all of the assets and debts must be identified and disclosed to the court. We always pull a credit report to have a complete list of debts owed and companies that are creditors [such as credit card companies or auto finance companies]. Many people worry that filing a Chapter 7 will mean giving up assets such as a home, car, and personal belongings, but that is usually not true. In California, assets such as a home, car, and personal belongings can be kept by someone … [Read more...] about What Chapter Bankruptcy Should I File
What Is the Difference Between Chapter 7 and Chapter 13
A Chapter 13 Bankruptcy is a reorganization plan where you make a payment each month in order to catch up when you have fallen behind on secured credit (like a mortgage or car loan). In other words, in Chapter 13 bankruptcy, you will need to pay your mortgage, car payment(s), household expenses, and a trustee plan payment each month. For more information, you should call a Chapter 13 bankruptcy lawyer to see if it makes sense and whether you can afford the payments required. Chapter 13 … [Read more...] about What Is the Difference Between Chapter 7 and Chapter 13
Chapter 7 Bankruptcy Requirements
Bankruptcy in California is subject to the same laws whether you live in Los Angeles or any other city. Our Chapter 7 bankruptcy attorneys can help you file no matter where you live in California. If you have Chapter 7 bankruptcy questions, you should call and talk to a lawyer at, schedule a free meeting to discuss your situation. You may have heard that there is a "Chapter 7 Bankruptcy Test" to see if you qualify. What that means is you cannot file a Chapter 7 bankruptcy if you make too much … [Read more...] about Chapter 7 Bankruptcy Requirements