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 …

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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 …

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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 …

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