Bankruptcy Law Overview

Dear President-Elect Trump, As you prepare to step from one ivory tower to the next, keep in mind, the hundreds of millions of Americans that have had their jobs shipped out of the country; their education has turned into profit machines for banks and the schools that push costly student loans; and the turmoil around […]

California’s mortgage crisis is out of control. The sub-prime lending didn’t end until late 2007 and into early 2008 when the economy collapsed. What further frustrates our sunshine state’s mortgage problems is that we were sold Jumbo loans due to our high property values. A Jumbo loan is a mortgage loan in an amount above […]

I’m so tired of hearing that “bankruptcy is failure.”  It’s simply not true, and yes, I am biased.  However, I have seen bankruptcy success stories, like Dave Ramsey, Walt Disney, J.C. Penny, darn near every football player ever, and more are listed in this article. If bankruptcy works for successful business folks, then why are […]

From our Chief Judge:  Honorable Sheri Bluebond March 3, 2015 An Open Letter to the Bankruptcy Bar The Bankruptcy Judges of the Central District of California once again urge you to consider volunteering for one of the bankruptcy pro bono opportunities available in your area.  Over the past several years, notwithstanding the cyclical increases and decreases in […]

I am a member of the Central District Consumer Bankruptcy Attorney’s Association (“CDCBAA”) and have served as a member of the board of directors for this group for the past three (3) years. I have also participated in one bench/bar committee meeting during this time where judges and lawyers meet to discuss issues we all […]

It was recently announced that the book, The Big Short: Inside the Doomsday Machine, written by Micheal Lewis will soon be made into a movie starring Brad Pitt. The book is essentially a Wall Street perspective about the housing and credit bubble of the 2,000s. It depicts the long bull market where a nation loses […]

Here in the Central District of California we have a huge Pro Se Debtor population; which are filers without a lawyer.  Then, there is another group who pay a paralegal or petition preparer no more than $200.00 to assist them in preparing their bankruptcy papers. Others might higher a lawyer to do the same work […]

After your bankruptcy case is filed, your case is assigned to a judge and a trustee.  You’ll soon receive an important notice from the bankruptcy court, giving you a date, time and place of your Meeting of Creditors, but what is it and how do you prepare? What is a 341(a) meeting of creditors? The […]

This post stems from an article in the Wall Street Journal entitled, “5 Things Student Loan Lawyers Ask Borrowers Who File For Bankruptcy.” As one of the few lawyers in this country to recently take on such lawyers for the creditors, I’ve got a few more questions to add to this list. Why didn’t you […]

History of 11 U.S.C. § 523(a)(8) The Debate The student loan exception to discharge has a fairly short, but interesting, history. Congress first established the Guaranteed Student Loan Program under the auspices of the Higher Education Act of 1965. Designed to meet “the challenge of keeping the college door open to all students of ability. […]