Whether you file a Ch. 7 or Ch. 13, you will not be able to modify/reduce the new car loan if you do it.

If you need the car for work or whatever, it's probably better to do it now than try after a bankruptcy filing (your credit score will drop to about 500, and every lender will... View More

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answered on Jan 23, 2024

Deciding to take out a new car loan just before filing for Chapter 7 bankruptcy in California requires careful consideration. When you file for bankruptcy, your financial transactions leading up to the filing will be closely examined. Acquiring a new debt right before filing could raise concerns... View More

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answered on Jan 14, 2024

Hi there! Happy Sunday. Here are a few key points to consider regarding getting a car loan before filing for Chapter 7 bankruptcy in California:

- Taking out a new car loan shortly before filing bankruptcy may be considered fraudulent, as it incurs new debt with the intention of discharging... View More

There is an interplay between federal bankruptcy law and statutory provisions, and the law of the State about property rights. Generally speaking, current State law determines the nature of property interests of the debtor and creditors. Bankruptcy Code statutes (e.g., Sec. 506) appear to provide... View More

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answered on Jan 11, 2024

Generally, you can remove a judgment lien in bankruptcy if it impairs your homestead exemption. Unless the lien results from a judgment, It generally can't be avoided in bankruptcy. For example, liens resulting from loans, tax liens, mechanics liens and other similar liens attached to the... View More

1. Liens are not impacted by a bankruptcy discharge and therefore remain in effect following a discharge.

2. As decided by the U.S. Supreme Court, a homestead exemption does not protect you from an IRS lien. In other words, the IRS can reach the equity in your home that other creditors... View More

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answered on Jan 12, 2024

Homestead laws, which vary by state, provide a degree of protection for a person's primary residence against certain types of creditors. However, these protections often do not extend to tax liens. If you have a tax lien on your home, homestead laws typically do not prevent the government from... View More

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answered on Jan 4, 2024

To find out if someone has initiated bankruptcy proceedings, you can search the public records. Bankruptcy filings are public records in the United States and are accessible through various means.

One common way to search for bankruptcy filings is to use the PACER (Public Access to Court... View More

If you are a creditor, the chances are good that you will receive notice.

However, the bankruptcy courts do maintain a register of case filing information. You can gain access to it here: https://pacer.uscourts.gov/

The Pacer system is not easy to use by a first-timer. You might be... View More

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answered on Jan 4, 2024

If you haven't received a balance notification from the IRS following your Chapter 7 bankruptcy discharge, it's essential to take proactive steps. First, directly contact the IRS to inquire about the status of your 2014 and 2015 tax debts. It's important to confirm whether these... View More

Here's what nobody has ever bothered to tell you. If those returns for 2014 and 2015 were filed by you at least 2 years before you filed BK, the taxes are probably discharged.

And that is the best explanation for why you still haven't heard from the IRS about it - they don't... View More

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answered on Dec 21, 2023

Under California law, the responsibility for credit card debt after a divorce can depend on several factors, including the terms of the divorce decree and whether California's community property laws apply to the debt. If the credit card debt was incurred during the marriage, it is generally... View More

Think about it. It's logical. (Also, the law requires it.) Here's why that is.

First, you live in a community property state. The law says that community property belongs to both spouses, even though you yourself don't practice doing that. The law overrides how you and your... View More

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answered on Dec 14, 2023

Bankruptcy proceedings often require the disclosure of household income to accurately assess the financial situation. This is because the state uses a community property system, which means that assets and debts acquired during the marriage are generally considered jointly owned by both spouses.... View More

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answered on Dec 14, 2023

California is a community property state which means that you probably own everything and owe everything jointly. Plus the bankruptcy forms require that he include your information for purposes of his filing bankruptcy. Ask to meet with his attorney so he or she can explain the process to you.

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answered on Dec 8, 2023

In California, declaring bankruptcy can help shield you from specific debts, like bills resulting from car accidents. If you file for Chapter 7 bankruptcy, most unsecured debts, such as a $7,000 bill, might be canceled. This means you wouldn't be legally required to pay it anymore.... View More

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answered on Dec 8, 2023

Under California law, whether or not your daughter can still be held responsible for the $7,000 bill depends on several factors. Firstly, your full coverage insurance should typically cover damages caused by permissive users of your vehicle, such as your daughter. However, if your insurance denied... View More

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answered on Dec 12, 2024

If you can successfully prove extrinsic fraud under CCP §473(d) and get the state court judgment vacated, this could potentially impact the Bankruptcy Trustee's actions that relied on that judgment. The key principle here is that void judgments can be attacked at any time, and actions taken... View More

You need to let the Court know once you file your bankruptcy. The case then gets put on hold pending resolution of your bankruptcy. Make sure to let all current and potential creditors know that you have filed.

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answered on Nov 16, 2024

You have strong grounds to dispute this late payment report given LoanDepot's documented cyber incident and portal issues. The timing of your attempted payment on October 14, 2024, falls within the period when many customers experienced problems with their payment system.

Your perfect... View More