Do I have to List Lienholder or Lessor as my Creditor in my Bankruptcy if I Intend to Continue Payments?
If I intend to keep my car and I’m willing to continue payments, do I have to list the lienholder or lessor as creditors in my bankruptcy schedules? Yes. You must list ALL creditors and lessors in your bankruptcy schedules regardless of you intention on the collateral. If you are always current on your payments, […]
Do I have to Disclose All Assets in Bankruptcy regardless of Location?
Do I have to list an asset that I own in another state or foreign country in my Bankruptcy case? Yes. All property, real and personal, must be disclosed in the bankruptcy schedules, regardless of whether located in Sacramento, California or elsewhere. However, the cost effectiveness of liquidation decreases for the Chapter 7 Trustee if […]
How can I Improve my Credit Score after Bankruptcy?
For Bankruptcy Filers in Sacramento, Stockton, Fairfield, Modesto, Calfornia area (and nearby cities), you can rebuild your credit after Bankruptcy. Even though the notation Bankruptcy will be in your credit report for up to 10 years, there are steps that you can take after Bankruptcy filing to improve your credit score. Establish positive credit history. […]
Small Business and Chapter 7 & 13 Bankruptcy Overview
As the economy recovers, small businesses are still struggling under mounting debts incurred during the recession in Sacramento, Stockton, Fairfield, and Modesto, California. If your small business is a sole proprietorship, you might be able to save your business through Chapter 7 or 13 Bankruptcy. Under Chapter 7 Bankruptcy, you can wipe out your business […]
Raising Home Prices & Chapter 13 Bankruptcy Lienstripping of Second Mortgage or Equity Line of Credit
As prices of homes in Sacramento, Stockton, Fairfield, and Modesto, California areas increase, it becomes more difficult to Lienstrip or remove the second mortgage or equity line of credit off your house under Chapter 13 Bankruptcy. If the house is your primary residence, you can only strip off the second mortgage or equity line of credit […]
Do I get to keep all my assets through Bankruptcy?
The answer depends on which Bankruptcy you file. If you file under Chapter 7 Bankruptcy, you will lose your assets that is not protected under the California Exemptions. If you file under Chapter 13 Bankruptcy, you can keep assets that are not protected under the California Exemption by paying your unsecured creditors through a payment plan for […]