Readers of my Newsletter already know that, since Covid began, I have seen a steep decline in bankruptcy clients. Seems counterintuitive, no? After all, many prominent retailers and large corporations have already filed Chapter 11 Business Bankruptcy reorganization. Read more >>
April 5, 2021
What is a Preference in Bankruptcy? Read more >>
March 29, 2021
California just became a much more debtor-friendly state. Specifically, most people filing chapter 7 personal bankruptcy no longer risk losing a house in which they have substantial equity. Read more »
October 20, 2020
Bankruptcy filings have declined nationwide this year – a counterintuitive trend given the economic gut punch from the Covid-19 pandemic. In the Central District of California, which includes much of Los Angeles, Ventura and Santa Barbara counties, there have been only 18,381 bankruptcy filings so far this year. Read more »
August 21, 2020
Sadly, the economic slowdown caused by Covid-19 is making many small business owners consider bankruptcy. Indeed, the Small Business Association estimates 40% of the US’s 30 million small businesses will fold within a year. Read more »
August 10, 2020
A lien is a creditor’s legal right to a debtor’s specific property to satisfy a debt. The most common lien is a home mortgage. The homeowner borrows money from a bank to buy a house and signs a deed of trust which allows the bank to foreclose if the homeowner stops paying the mortgage. 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 »
July 17, 2020
The word “bankruptcy” comes from the Italian words for broken bench — banca rotta. In the middle ages, a failing craftsman would bring his work bench to an authority in the town square, who would break it and in so doing, relieve the craftsman of his debts. Bankruptcy is more modern-looking today. Read more »
July 1, 2020
Sometimes you hear that someone makes too much money to file bankruptcy. Anyone can file bankruptcy, but courts will dismiss a bankruptcy case for abuse or bad faith – when you have too many assets to legitimately use bankruptcy to get rid of debt. Read more »
June 28, 2020
Bankruptcy can wipe out federal and state tax debt (which is called “discharging” the tax debt) if several conditions are met. If a case is filed too early, the debtor may go through bankruptcy and still owe taxes on the other end of the process. It’s usually a pretty easy malpractice case if an attorney misses this. Read more »
June 9, 2020
