by Max Gardner | Jan 21, 2015 | Client Information
Filing for bankruptcy protection can offer a form of relief for individuals facing overwhelming debt, and eventually may lead to a fresh financial start. Chapter 7 is one of the most common types of bankruptcy, and it involves assets being sold so that creditors can...
by Max Gardner | Dec 11, 2014 | Client Information
When a person is struggling with debt, sometimes the best option is filing for bankruptcy. Bankruptcy allows a person to eliminate some of their debt and reorganize their finances in order to get a fresh start. However, there is one type of debt that has been...
by Max Gardner | Dec 4, 2014 | Client Information
When you decide to keep certain items of personal property in bankruptcy, you must still pay for those items. One way to continue payments is by signing a reaffirmation agreement that acts as a brand-new contract for the property, such as your house or car. One...
by Max Gardner | Sep 12, 2014 | Client Information |
Nearly 1.2 million Americans filed for bankruptcy in 2012. Of those, 70 percent filed under Chapter 7 of the bankruptcy code, meaning that although their assets had to be sold off, they were able to walk away from most of their debts within a matter of months. The...
by Max Gardner | Sep 5, 2014 | Client Information
One of the immediate results of filing for bankruptcy in Bakersfield is relief from creditors. This benefit is called an automatic stay. As soon as your paperwork is filed in court, the automatic stay goes into effect, although there is typically some lag time between...
by Max Gardner | Aug 28, 2014 | Client Information
Going through a bankruptcy filing is among the most stressful experiences most people will have, and it affects your credit in intimidating ways. But although coming back from a bankruptcy filing may seem impossible, it doesn’t have to be. Being limited in your...
by Max Gardner | Aug 13, 2014 | Client Information
People often wonder how creditor payment work in bankruptcy filing, in Bakersfield, California. Debt falls into three main categories – priority, secured and unsecured debts. Here’s How Creditor Payments Are Paid Out Creditors with priority debts get paid first,...
by Max Gardner | Aug 12, 2014 | Client Information
Depending on the amount of equity in your home, it may be exempt when filing for Chapter 7 bankruptcy. You have two state exemption systems to choose from (systems one and two) and each has a different exemption amount for homesteads. Federal exemptions are not an...
by Max Gardner | Aug 7, 2014 | Client Information
While Chapter 11 is mainly a form of bankruptcy for business entities, individuals also have the option of filing a Chapter 11 bankruptcy petition. Since Congress enacted the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in 2005, individuals with...
by Max Gardner | Jul 14, 2014 | Client Information
Chapter 7 bankruptcies have a hierarchy of creditor that get paid claims that is the result of the legislative process. The totem pole was carved with an attempt at fairness and common sense, but naturally has politics painted on it. This hierarchy described below...
