Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – How COVID-19 and the CARES Act Affect Bankruptcy

CARES Act and Bankruptcy. People who are affected by COVID-19 will benefit from the changes in Bankruptcy by the CARES Act. Chapter 13 Bankruptcy Plan can be extended to 7 years term Under 11 U.S.C. 1329(d), a debtor who is experiencing or has experienced a material financial hardship due to coronavirus disease 2019 (COVID-19) pandemic …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Haven Act excludes certain veteran affairs benefits from the current monthly income calculation in Bankruptcy

In August, 2019, the President of the United States signed the Honoring American Veterans in Extreme Need Act of 2019 (aka the Haven Act) into law. The Haven Act excludes certain veteran affairs benefits from the current monthly income calculation in Chapter 7 and Chapter 13 Bankruptcy. Prior to the Haven Act, many veterans were …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Small Business Bankruptcy

Small Business Bankruptcy has become a much discussed topic recently at my office. COVID-19 causes many small businesses to lose revenues and accumulate debts. Filing for small business bankruptcy may be an option you should consider. Small Business is a Sole Proprietorship If your small business is a sole proprietorship, you have the option to …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Conversion Chapter 13 Bankruptcy to Chapter 7 Bankruptcy

What do you do if you can no longer afford your Chapter 13 Bankruptcy plan payments? What if the sole reason you are in a Chapter 13 Bankruptcy is because of car or house you no longer want? Conversion Chapter 13 to Chapter 7 Bankruptcy might be an option. Can I convert my Chapter 13 …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Chapter 13 Bankruptcy and Repossession

Chapter 13 Bankruptcy can be used to stop auto repossession and reduced payments. Are you in danger of auto repossession? You can file a Chapter 13 Bankruptcy to spread out the payment up to 60 months. You may also reduce the interests and cram down the principal loan balance. You may even cut off part …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Purchase of a Car after Chapter 7 and 13 Bankruptcy

A lot of my clients equate the time that bankruptcy will stay in your credit report to the time you will be without credit. This can scare some people from filing bankruptcy. What if you need to finance a car? Yes, the word “bankruptcy” can stick to your credit report for up to 10 years. …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Reaffirmation of Car Loan in Chapter 7 Bankruptcy

Should you sign the Reaffirmation Agreement for your Car Loan in Chapter 7 Bankruptcy? Your auto lender would prefer you sign and agreed to the reaffirmation agreement. A reaffirmation agreement if approved by the Bankruptcy Judge will make you liable for the car loan plus any costs relating to repossession and legal fees if you …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – What Should Client Bring for Consultation for Chapter 13 or 7 Bankruptcy Filing?

Documents to bring to Muoi Chea, Sacramento Bankruptcy Attorney consultation: 7 months of pay stubs or documentations of all source of income for the last 7 months. Even if your spouse decide not to file with you, you should bring 7 months of spouse’s income. If you own a business or have 1099 employment, bring …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – What Should A Debtor Expect at the 341 Meeting of Creditors for Chapter 13 Bankruptcy Cases?

If you filed for Chapter 13 Bankruptcy protection in Sacramento Bankruptcy Court or Modesto Bankruptcy Court, you will receive a Notice of Chapter 13 Bankruptcy Case in the mail about a couple of weeks after the filing of your case. On the second page of the Notice, is your court date, time, and location. The …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – 2019 Median Household Income for Chapter 7 Bankruptcy Means Test & Chapter 13 Bankruptcy Commitment Period

Chapter 13 Bankruptcy and Chapter 7 Bankruptcy are both affected by the Median Household Income Increased. Call Sacramento Bankruptcy Attorney Muoi Chea for a more in-depth explanation. Starting on November 1, 2019, the median household income figures used to determine Chapter 7 Bankruptcy eligibility has increased. Moreover, in Chapter 13 Bankruptcy, the median household income …

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