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Chapter 11

When Life Gives You Lemons: OC Edition

Chapter 11, Chapter 7, Family Law and Bankruptcy, Foreclosure, Modifications, Short Sales

From religion to politics; housing, transportation and food, the epic failures of the economic recession have delivered some real big lemons to the OC [Orange County]. No sector of the economy was left untouched and so many lives have been impacted in this recent wave of sour fruit. In July, the OC Metro Magazine’s (@OCMetro) […]

6 Steps To Financial Freedom From Debts

Bankruptcy Law Overview, Chapter 11, Chapter 13, Chapter 7

You’re in debt up to your eyeballs and the prospects of paying it all back can take more than a decade to clear the way.  You’re not getting any younger and have plans to either keep your current home, or buy a home before you retire.  Speaking of retirement, you haven’t even considered that because […]

Judicial Estoppel: Why You Should Disclose All Assets, Claims and Debts

Bankruptcy & Civil Litigation, Chapter 11, Chapter 13, Chapter 7, Small Business Bankruptcy

 Have you heard of Judicial Estoppel?  Well, you need to if someone owes you money and you’re thinking of suing while contemplating bankruptcy. The doctrine of Judicial Estoppel generally prevents a party from prevailing in one phase of a case on an argument and then relying on a contradictory argument to prevail in another phase. […]

Chapter 11 Mortgage Cramdown For Investment Properties

Chapter 11

During the housing boom, many investment properties were purchased to increase income and build portfolios. Now, many of these properties are underwater and no longer producing income as tenants struggle to pay rents. If you’re an individual investor in a similar situation and you’re wondering what to do with your investment property portfolio, consider the […]

Chapter 11 Bankruptcy: Beyond the Debt Limits Under Chapter 13

Bankruptcy Law Overview, Chapter 11

The new debt limits under Chapter 13 effective April 1, 2010 pursuant to 11 U.S.C. 109(e) were increased to $1,081,400 for secured debt and $360,475 for unsecured debt. This change represents about a 7% increase in the allowed debt limits. However, this increase still excludes many California homeowners who bought into the Jumbo loans sold […]