Blog
After I file, what happens to my creditors’ collection activities against me?
Once the petition is filed with the court, the automatic stay will go into effect. The automatic stay is an injunction that automatically stops lawsuits, foreclosure, garnishments and all collection activity against you by your creditors for any debt which arose...
What is a discharge and how do I receive my discharge?
A discharge releases a debtor from personal liability of certain debts known as dischargeable debts and prevents the creditors owed those debts from taking any action against the debtor or the debtor’s property to collect the debts. The discharge also prohibits...
What is the Personal Financial Management Course (Debtor Education)?
Debtors are required to complete an instructional course in personal financial management as a condition for receiving a discharge. This course is in addition to the credit counseling requirement. When the personal financial management course is completed, the...
What happens to my workers’ compensation case if I file bankruptcy?
Pursuant to California Code of Civil Procedure section 704.160, Workers Compensation benefits are exempt from bankruptcy proceedings.
Bank foreclosures fall 27% as compared to last year. What does this mean?
It was reported today that bank foreclosures fell 27% nationally as compared to February of 2011. What does this mean. If you have been paying attention to this mess lately you may have seen that there has been an ongoing investigation by state and federal authorities...
U.S. House of Representatives votes to end Home Affordable Modification Program
Yesterday the House of Representatives voted to end the Home Affordable Modification Program claiming that it was a failure. The conclusion that HAMP has been a failure is probably accurate considering that only one billion of the 30 billion dollars allocated by the...
Settlement with banks regarding foreclosure misconduct to drag on for months.
Yesterday was the first settlement discussions between the major mortgage services and the Department of Justice and the Attorney Generals of all 50 states regarding the banks misconduct concerning foreclosures and loan modifications. The government is seeking...
Will bankruptcy stop my eviction?
Bankruptcy may or may not stop an eviction, it just depends on your circumstances. The automatic stay that bankruptcy provides will protect you in many circumstances, but there are exceptions. Under section 362(b)(22) of the Bankruptcy Code the eviction of a debtor...
California foreclosure relief offered to more homeowners
Starting yesterday the California Housing Finance Agency (CalHFA) expanded their 2 billion federally funded program that is aimed at assisting low to moderate income homeowner avoid foreclosure. Now homeowners who refinanced their properties for cash or took out home...