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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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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – What is the Biggest Limitation or Drawback in Filing Chapter 7 Bankruptcy?

Too Much Asset or Property. The biggest limitation and drawback of Chapter 7 Bankruptcy that I see as a Sacramento Bankruptcy Attorney is that some clients have too much property. If your property is not exempt or protected under the California exemptions, you risk losing that property. The Bankruptcy Trustee will sell the nonexempt property …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Should I File My Tax Return before I File for Chapter 7 or 13 Bankruptcy?

The general answer is “Yes”. You want to be able to Spend your Tax Refund Whether you file a Chapter 7 or 13 Bankruptcy, your Sacramento Bankruptcy Attorney needs to know what you are entitled to receive in tax refunds. Tax refunds are asset in bankruptcy court and your bankruptcy attorney needs to know your …

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Ask Bankruptcy Attorney in Sacramento Stockton Fairfield CA – Bankruptcy Exemptions for California April 1, 2019

Bankruptcy Courts in California differs from bankruptcy courts in other states. Unlike some some states, in California you do not have a choice between federal or state exemptions. In California, you must apply state exemptions either CCP 703 or CCP 704. Moreover, unlike some states, in California, married couples are not allowed to double up …

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Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – I filed for Chapter 13 Bankruptcy. Will my Chapter 13 Bankruptcy plan payment change?

Some of my Chapter 13 Bankruptcy clients ask if after they file for Chapter 13 Bankruptcy, are they stuck with the plan payment even if their income is reduce? The answer is generally no. Chapter 13 Bankruptcy plan payment is based on a formula involving nonexempt assets and disposable income after reasonable living expenses and …

Ask Bankruptcy Attorney in Sacramento, Stockton, Fairfield, CA – I filed for Chapter 13 Bankruptcy. Will my Chapter 13 Bankruptcy plan payment change? Read More »