I like to say that I am involved in “capitalist recycling.” In a capitalist, free-market society, there are people who win and there are people who lose. Those people who do not win and cannot function economically because of crushing debt Read more >>
Bankruptcy
Tax Debt Lowered from $513,000 to $30,000!
“Impossible,” you’re probably thinking. But it’s not. Here’s why. My client knew he had $200,000 in tax debt, only $30,000 of which was income tax debt; the remaining $170,000 was Read more »
Lenny Dykstra Sentenced for Bankruptcy Fraud
He had a great mansion in Lake Sherwood, near Thousand Oaks, but when his financial-services firm fell apart, so did his life. Baseball legend Lenny Dykstra, who went through bankruptcy in 2009 (claiming about $25 million in assets and $37 million in debts), thought he could hide assets Read more >>
Why Hiding Information In Bankruptcy Isn’t Good Strategy
Attorneys often try to hide a client’s information, disclosing as little as possible. This legal strategy sometimes has comical effects, as in this exchange I heard in a deposition:Read more >>
Bankruptcy & Self-Employed People
Self-employed persons face special challenges in filing bankruptcy. When I hear that a potential debtor has a business, a slew of questions come up: is the business incorporated, a partnership, or a sole proprietorship? Does the debtor Read more >>
Fighting A Bankruptcy Discharge: Tenant Who Wanted Her Rent Back
My client was a landlady who rented her three-unit house not far from the beach in Ventura. The county came by one day and put yellow tags on two of the units, calling them “substandard” and evicting the tenants that day. Why “substandard?” Mostly because the area was zoned for one unit only Read more >>
Getting Rid of Tax Debt With Bankruptcy
People often believe that they cannot discharge income taxes through bankruptcy. Wrong! While it can be a bit more difficult to discharge income tax compared to other debts, you can get rid of tax debt Read more >>