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Your Home and Bankruptcy | “Keep My House”

Your Home and Bankruptcy You saved your whole life for it. You’ve struggled to pay for your house. Now that you’re having a tough time, you naturally wonder about your home and bankruptcy. Will I keep my house in a Chapter 7 bankruptcy? Can you lose your home if you file bankruptcy? How can I...
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Bankruptcy and Liens

Bankruptcy and Liens People often have confusion about bankruptcy and liens. Most commonly, the question comes up  with bankruptcies and liens from judgments. That is, you got sued, the creditor won, they got a judgment, and then the question becomes do bankruptcies clear judgements. What is a judicial lien? And what is avoidance of a...
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Bankruptcy Process | A Road Map to Debt Freedom

Bankruptcy Process Few things are as much of a mystery as the bankruptcy process. As an attorney who has successfully performed thousands of bankruptcies, I lay out the process as simply as possible. The Chapter 7 process is a template on which the Chapter 13 process sits. This is grossly over-simplified, but at least can...
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Avoid Bankruptcy | Non-Bankruptcy Alternatives

Avoid Bankruptcy | Non-Bankruptcy Alternatives I’m a bankruptcy attorney. I see people in all kinds of financial distress. Emergency room doctors can tell people how to avoid getting hurt. And a consumer finance attorney can tell you how best to avoid bankruptcy. Bankruptcy should be a last resort. Nobody wants to file bankruptcy. However, sometimes...
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Gibson Guitar Filed Bankruptcy Chapter 11

Gibson Guitar Filed Bankruptcy Bankruptcy isn’t the end, but a new start. Lots of people, and even famous businesses, use it to become lean and mean. This week, we get news that Gibson Guitar filed bankruptcy with Chapter 11.  Gibson Guitar is not going out of business, and will keep making its famous guitars, Baldwin pianos,...
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Chapter 13 Bankruptcy | Better Debt Consolidation

Chapter 13 Bankruptcy Chapter 13 bankruptcy is the main alternative to Chapter 7. It’s a mystery, and the success rate is about 0% if done without a bankruptcy attorney.  It’s referred to as “reorganization bankruptcy” which pretty much tells you nothing. Reorganizing what? That’s useless. Here, I’ll put it in plain terms. What is Chapter...
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Statement of Intention in Chapter 7 Bankruptcy

Statement of Intention in Chapter 7 Bankruptcy In Chapter 7 bankruptcy, there are tons of documents and forms to fill out. One of them is the Statement of Intention. What is the Statement of Intention The Statement of Intention is where you state… your… intentions. Yes, you knew that, but about what?  You’ve already declared...
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Reaffirm Debt | The Reaffirmation Process

Reaffirmation Process | What is it to Reaffirm Debt In Chapter 7 bankruptcy, you’re trying to get a fresh start. A big part of that fresh start is to eliminate debt, or discharge it. The reaffirmation process is where you say, no, I’d rather reaffirm debt in Chapter 7 and keep it. Most times you...
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341 Meeting of Creditors

341 Meeting of Creditors In Chapter 7 bankruptcy, there’s a mandatory hearing. This is an opportunity for the people you owe to ask you questions, that you must answer under oath. It’s like a deposition, the kind you see on TV. It’s not always a mob of angry people torches and pitchforks, though I’ve seen...
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California Bankruptcy Exemptions | Can I Keep In Chapter 7

California Bankruptcy Exemptions: What Can I Keep in Chapter 7 People really do lose things in Chapter 7 bankruptcy. No, really. Just because your cousin’s mailman filed Chapter 7 and kept their 17 houses and baseball card collection, that doesn’t mean you’ll keep your car. Each state has rules about what you can keep in...
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