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Exemptions

Getting From Point A to Point B With Money

Chapter 13, Chapter 7, Debt Collections, Exemptions, Family Law and Bankruptcy, Student Loans & Bankruptcy

Taking a trip is exciting. You have a staring place [“Point A”] and a destination [“Point B”]. Along the way, is the “journey.” Getting from Point A to Point B is simple when it’s a road trip because we look at a map, or nowadays, we’ll just plug in our destination into our GPS system, […]

Ninth Circuit Appellate Panel Overturns the BAP; Approves Wells Fargo Freeze Policy

Automatic Stay, Bankruptcy Law Overview, Chapter 7, Exemptions

We have been following the Mwangi case since 2010 when we first heard of Wells Fargo placing a “temporary administrative pledge,” known as a “freeze” on a debtor’s bank account after it discovered that they had filed bankruptcy. You can read the first article here and the follow up article here. Facts After filing for […]

A Medical Bankruptcy May Soon Discharge Student Loans

Chapter 13, Chapter 7, Exemptions, Medical Debt & Bankruptcy, Student Loans & Bankruptcy

Cited as the Medical Bankruptcy Fairness Act of 2014, S.2471 is a Bill recently introduced in the Senate, June 12, 2014. The proposed Bill would Amend the Bankruptcy Code to include definitions for a “medically distressed debtor” and allow a discharge of their student loan debt without the current requirement of filing an adversary proceeding […]

Supreme Court Bankruptcy Trilogy & Bankruptcy Judge’s Inferiority Complex

Bankruptcy & Civil Litigation, Bankruptcy Law Overview, Chapter 7, Exemptions

In the Beginning In Stern v. Marshall,131 S. Ct. 2594 (2011), this Court held that Article III of the United States Constitution precludes Congress from assigning certain “core” bankruptcy proceedings involving private state law rights to adjudication by non-Article III bankruptcy judges. Applying Stern, the court of appeals for the Ninth Circuit held that a […]

You Don’t Have to Be Insolvent To Be Bankrupt

Chapter 13, Chapter 7, Exemptions

Many mistakenly believe they must be completely broke to file bankruptcy and that simply is not true.  Do you remember the story of Vicky Lynn Marshall?  [aka: Anna Nicole Smith] Pierce Marshall, son of J. Howard Marshall [Anna’s husband before he passed], was a claimant to his father’s oil fortune.  He not only prevailed against […]

T is for Trustee Duties in Chapter 7

Bankruptcy Alphabet, Chapter 7, Exemptions

When it comes to bankruptcy, the rules are found in the Bankruptcy Code.  The moment a debtor becomes bankruptcy by filing their case, an impartial person must be appointed by the court to represent the collective interests of creditors and to control and administer the bankruptcy estate. That person is called a TRUSTEE. Thus, in […]

Do I Have to List All of My Assets When I File For Bankruptcy?

Bankruptcy Law Overview, Chapter 7, Exemptions

The short answer is yes.  Remember that you are signing your bankruptcy papers under penalty of perjury that everything is true, correct and complete. Section 521(a)(1) of the Bankruptcy Code requires that you promptly file detailed information regarding your creditors, assets, liabilities, income, expenses and general financial condition. At your meeting of creditors, you will […]

B is For Bankruptcy Petition Preparer

Bankruptcy Alphabet, Exemptions

We have a serious issue here in the Central District with the BPP [“Bankruptcy Petition Preparer“].  The Central District of California has more than 25% of the entire nation’s Pro Se Debtors, which are Debtors that file their bankruptcy case without an attorney.  That’s a whopping 38,667 cases filed without an attorney.  This volume of […]

Keeping Your Home When Filing Bankruptcy

Bankruptcy Law Overview, Chapter 13, Chapter 7, Exemptions, Foreclosure, Modifications

A fundamental part of deciding to file bankruptcy is helping our clients achieve their financial goals.  One of the toughest decisions clients struggle with is deciding whether to keep their homes.  Many Californians are faced with underwater property values; denied loan modifications; falling behind on mortgage payments when their teaser rate terms end; and the fact […]

Wells Fargo Won’t Stop Freezing Bank Accounts

Automatic Stay, Bankruptcy Law Overview, Chapter 7, Exemptions

Many a Creditor has driven us bankruptcy lawyers and our clients nuts with their antics, but freezing a client’s bank account after their case has been filed takes the cake.  The Ninth Circuit BAP just released In re Mwangi Case No. 09-1408 (9th Cir.B.A.P., June 30, 2010), which held that Wells Fargo’s national policy of […]