Fraudulent transfer in a California bankruptcy can get your family sued as a voidable transfer. A fraudulent conveyance doesn't need fraud, due to the new UVTA to avoid transfers.
Each state has rules about what you can keep in Chapter 7. In Los Angeles County -- where the Antelope Valley is -- these are ruled by the California bankruptcy exemptions.
Chapter 7 process is a template which can vary case to case. This is grossly over-simplified, but at least can provide a basic road map to where we're headed.
The median income limits for Chapter 7 bankruptcy means test were released and decide who can file Chapter 7 bankruptcy. These numbers will update again for California median income.
Means Test for Chapter 7 bankruptcy – Pass This Test Easily What is the bankruptcy means test? The bankruptcy means test is a document about... Read More