Many people are concerned that filing for personal bankruptcy means losing everything they own. After all, in a chapter 7 bankruptcy, everything you own and owe is legally transferred to Read more »
What is a Preference in Bankruptcy? In bankruptcy, a debtor gives up legal control of most assets to a Bankruptcy Trustee, who can use those assets to pay the debtor’s Read more »
Katie Clunen is a sharp family law attorney in Westlake Village, CA. She recently asked me whether a couple with tax issues going through a divorce need separate attorneys to Read more »
Many of my bankruptcy clients want to know what will happen if they repay a family member before filing bankruptcy. It’s an important and common question I just faced. My Read more »
In bankruptcy, all of a debtor’s debts and assets are brought into the case. The debtor does not choose which assets are used to pay debts, or which creditors get stiffed or get paid. Read more »
In the past year, there’s been lots of talk– especially by politicians — about millions of personal bankruptcies being triggered by massive medical bills. While this may be true, I’m here to report that I have not had a bankruptcy client whose medical debt topped $100,000. Read more »
Jim loves to fly. It’s how he makes a living. He leases luxury airplanes and ferries rich people wherever they want to go. Jim once flew Lee Iacocca someplace and chatted with him for four hours. His former company also performed engine maintenance and other plane repairs. But the company took a financial nosedive when a large client stiffed him for $200,000.Read more »
I don’t do magic (despite owning four bunnies that I could pull out of a hat). I say this because I occasionally have a client who has heard of a legal maneuver to solve her problem, yet is too good to be true. Read more >>
I took a client through a Chapter 7 bankruptcy, and got her a discharge. She and I were done, and she had no more personal debt. Then she sought a loan modification Read more >>
I don’t like Wells Fargo Bank. Its abusive policies make it impossible to think well of it. I try not to do loan modifications for clients because all banks are reluctant to negotiate them. Banks are forced to do so by well-meaning statutes. Read more >>
