Trustee in Chapter 7 Bankruptcy When you file a a chapter 7 bankruptcy, everything you own and owe is legally transferred to a Bankruptcy Trustee, who can then use your Read more »
The Bankruptcy Trustee
Trustee
How Inheritance Impacts Bankruptcy
It’s horrible to have a loved one die. But sometimes the death comes with a silver lining in the form of an inheritance. However, for someone with lots of debt 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 >>
Filing Bankruptcy If Debtor No Longer Lives in US
I had an American client who lived in Europe – Luxembourg, of all places. He moved because his business ventures in the US were going bad. His wife was from Luxembourg, so the family moved close to his in-laws 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 >>