California Bankruptcy Lawyer Blog

A San Jose bankruptcy attorney addresses the issue of How do I file Bankruptcy?

We blog on the topic of how to file bankruptcy a lot because, frankly, it comes up daily for many consumers in debt. The ins and outs of how to file bankruptcy is a "stopping point" for many as it can be confusing and sometimes daunting. But it doesn't have to be. Knowing what to expect is half the battle.

A bankruptcy begins by filing the bankruptcy petition at the bankruptcy court. It takes time and attention to prepare your bankruptcy file, so it is highly recommended that you seek the assistance of an experienced bankruptcy attorney. For example, with the bankruptcy petition, you also file a creditor schedule (listing all of the creditors to which you owe debt), a statement listing your assets and a statement listing your liabilities. When filing bankruptcy there are many forms to fill out, a list of which is available on the court websites (click here to view) as well as some printing, copying or stationary stores. Your bankruptcy filing, whether it is a Chapter 7, Chapter 11 or Chapter 13 filing requires a variety of components including attention to detail, a 341 meeting od the creditors, in some cases a Means Test, and two financial courses.

Again, filing bankruptcy can be as easy or as difficult as you make it. If you hire a bankruptcy attorney, chances are your bankruptcy filing with go smoothly and is less likely to get dismissed.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankrupty lawyer addresses a common bankruptcy question: How much does it cost to file Bankruptcy in Fremont?

Answer: It depends on what Chapter you file.

Chapter 7 requires a $299 filing fee, Chapter 13 requires a $274 filing fee, and Chapter 11 requires $1,039 filing fee. These fees, however, are only filing fees and do not include attorney’s fees which vary depending upon the complexity of each case.

Thus, to file bankruptcy in Fremont or San Jose will vary depending upon what chapter a debtor files and the complexity of the case. An experienced bankruptcy attorney should be consulted to get an actual cost to file bankruptcy.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy lawyer asks San Jose consumers in debt to consider the question: What Should I Do Before Bankruptcy?

The choice to file bankruptcy is never an easy one. So before bankruptcy, there are many things to consider. Being overwhelmed by a mountain of debt is one sign before bankruptcy comes to mind. Unforseen circumstances such as an accident (medical bills), sudden job loss (rendering you unable to meet billing and mortgage deadlines), student loan debt catching up with you, or a combination are all signs before bankruptcy is considered for most.

Before bankruptcy, everyone should consider meeting with a qualified and experienced bankruptcy attorney to review finances, explore options, and develop an action plan before bankruptcy. This type of planning before bankruptcy can provide a clear picture when things are clouded up my debt and stress. Credit counseling and becoming familiar with the necessary tools to ensure future financial stability are also key before bankruptcy so that after bankruptcy, when the debtor becomes debt-free, they have built a stable path for future financial freedom.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney discusses Chapter 13 repayment plan...

Chapter 13 bankruptcy repayment plans reorganize a debtor’s financial life, instead of merely liquidating all the debtor’s non-exempt assets as in a chapter 7 bankruptcy. A chapter 13 repayment plan can be as short as three years, but typically last a total of five years or until a debtor’s entire priority debt is repaid, whichever comes first. A chapter 13 plan must be approved by the court over all, if any, creditor objections. One of the most important things a chapter 13 debtor must remember is to begin making payments to the chapter 13 trustee within the first 30 days following the filing of the petition even if the chapter 13 plan has not been approved. Failing to do so may result in a dismissal of the petition or a conversion to chapter 7 bankruptcy.

A chapter 13 plan is based upon a debtor’s household “disposable income.” Disposable income is monthly income that, after all the necessary bills are paid, is leftover and available to the debtor. Once the chapter 13 plan is submitted to the court, the judge will hold a confirmation hearing where the chapter 13 plan is hopefully confirmed. Once confirmed, the chapter 13 plan is binding on the debtor and all creditors. The debtor must then continue to make timely monthly payments to the chapter 13 trustee who will then disburse the payments to the creditors according to the chapter 13 plan.

Chapter 13 bankruptcy repayment plans reorganize a debtor’s financial life, instead of merely liquidating all the debtor’s non-exempt assets as in a chapter 7 bankruptcy. A chapter 13 repayment plan can be as short as three years, but typically last a total of five years or until a debtor’s entire priority debt is repaid, whichever comes first. A chapter 13 plan must be approved by the court over all, if any, creditor objections. One of the most important things a chapter 13 debtor must remember is to begin making payments to the chapter 13 trustee within the first 30 days following the filing of the petition even if the chapter 13 plan has not been approved. Failing to do so may result in a dismissal of the petition or a conversion to chapter 7 bankruptcy.

A chapter 13 plan is based upon a debtor’s household “disposable income.” Disposable income is monthly income that, after all the necessary bills are paid, is leftover and available to the debtor. Once the chapter 13 plan is submitted to the court, the judge will hold a confirmation hearing where the chapter 13 plan is hopefully confirmed. Once confirmed, the chapter 13 plan is binding on the debtor and all creditors. The debtor must then continue to make timely monthly payments to the chapter 13 trustee who will then disburse the payments to the creditors according to the chapter 13 plan.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy lawyer provides some Chapter 13 Bankruptcy Information

Chapter 13 Bankruptcy Overview

What Does Chapter 13 Mean?

A chapter 13 proceeding under the U.S. Bankruptcy Code is one in which the consumer in debt takes on a reorganization their finances with the approval of and under the supervision of the bankruptcy court. A component of the debt reorganization is that the debtor agrees to a repayment plan which allows creditors and other debtors to be paid back in a timeframe of 3 to 5 years. Those that file under Chapter 13 bankruptcy must have the means by which to accommodate the repayment plan via a regular income.

A chapter 13 bankruptcy filing differs from a Chapter 7 bankruptcy filing in that the filer is typically one that has sufficient income to pay the debt off over time. Chapter 11 bankruptcy is different from the Chapter 13 bankruptcy filing as well, as it is more complicated with regard to restructuring the debt.

When an individual files a Chapter 13 bankruptcy, the advantage is avoiding such things as foreclosure of a home.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose attorney explains involuntary bankruptcy

An Involuntary Bankruptcy, by definition, occurs when the filing of the bankruptcy is initiated by the creditor to whom the debt(s) is owed. The creditors are allowed to file a petition for bankruptcy, thus initiating the involuntary bankruptcy process, with the end goal of recouping the debt or a portion of the debt that is owed them. An involuntary bankruptcy can also result in a restructure of that debt, which means the debt is restructured and paid off, sometimes via a payment plan.

The involuntary bankruptcy differs from a regular bankruptcy filing in that typically bankruptcy is filed by the debtor.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose Bankruptcy Lawyer Discusses Discharging Back Taxes...

In our current economic climate, many people are having difficulty keeping up with all of their debts. While many of us think of bankruptcy as being for debts such as credit cards and auto loans, a significant number of people are also having trouble with back taxes. Forunately for these people, taxes are often dischargable in a bankruptcy.

Whether or not your taxes can be discharged depends on various factors. When the taxes were due to be filed and when they were actually filed are two of the major factors involved in determining whether or not the taxes can be discharged, though the courts will also look at other aspects of your situation, such as whether or not you intentionally evaded the IRS.
In order to determine whether or not your taxes can be discharged in a bankruptcy, we suggest contacting a lawyer in your area.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney discusses Revocation of a Bankruptcy Discharge

In certain situations, the United States bankruptcy court can revoke a discharge received by the debtor. Often times such revocations involve allegations that the debtor obtained the discharge fraudulently. A request for revocation may be made by the trustee, a creditor or the United States trustee. Another reason for revocation is when a debtor failed to disclose property that he or she had acquired and which should have been considered in the bankruptcy process. If there is an audit of the case, a revocation may also be requested based upon the debtor’s failure to explain any discovered misstatements or to provide requested documentation and/or information.

Other reasons for revocation include the debtor’s failure to obey a lawful order of the court or to respond to a material question approved by the court or to testify other than on the properly invoked privilege against self-incrimination. For the most part, a request for revocation must be made within a year following the discharge or in some situations, before the case is closed. Ultimately it is up to the court to decide whether the allegations are true and whether to grant the request for revocation.

In a Chapter 11 or Chapter 13 case, allegations of fraud are also common in requesting revocation of the order of confirmation or discharge.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose Bankruptcy Attorney Discusses Dan Issel’s Bankruptcy Filing

Although not every American may recognize the name, Dan Issel is a former basketball star and the coach for the Denver Nuggets. He surprised many when he filed for personal bankruptcy earlier in 2009 claiming $4.5 million in debt. His home located in an exclusive community was headed to foreclosure while his company which trains and races horses had amassed a tremendous amount of debt. A Denver auction house auctioned off more than 100 personal items belonging to Dan Issel and his wife, Cheri. The couple who owned assets valued at more than $2.1 million was forced to auction jewelry and memorabilia, for a total sale of $46,000.00.

The coach filed for Chapter 7 bankruptcy in June 2009, the paperwork for which states more than $77,000.00 in unsecured debt owed to credit card companies, more than $258,000.00 in business loans and still more related to expenses for his horse business. Sources who know Issel blame bad business investments for his current financial situation. Through 2003-04, Issel reportedly earned $2.5 million per season as vice president, general manager and head coach of the Nuggets. Nevertheless, Issel has joined the ranks in the current economy where bankruptcy filings are widespread. In the first six months of 2009, bankruptcy filings have increased by 36% as compared to the same six month period in 2008 according to the Administrative Office of the U.S. Courts.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney outlines court fees invloved with filing bankruptcy

In order to file for bankruptcy there are numerous fees that may be involved that the debtor should be aware of. The debtor will need to be responsible for paying for the credit counseling courses which normally cost approximately $50.00 per course, two of which must be taken in the course of a Chapter 7 and Chapter 13 bankruptcy. The filing fees for the petition in a Chapter 7 and Chapter 13 bankruptcy are $299.00 and $274.00, respectively. For a Chapter 11, the fee is much higher at $1,039.00.

In addition to the filing and other fees described above, other fees may arise within the course of a bankruptcy that the debtor should be aware of. For example, the cost for initiating an adversary proceeding is generally $250.00, although it is not required if the plaintiff is the debtor or a child support creditor who has filed the proper paperwork in the bankruptcy case prior to or at the same time he files the adversary complaint. Any amendment to schedules or list of creditors, such as to add or delete a creditor or to change the amount of a debt costs $26.00. For an appeal, the notice is $5.00 and the filing of the appeal $250.00.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankrutpcy attorney responds to an inquiry from a debtor regarding Chapter 13 bankruptcy...

Today, I received an email to our San Jose bankruptcy law firm that read:

We are in the process of going through a Chapter 13 bankruptcy right now, but we still want to do a loan modification as we cannot afford to keep paying our mortgage payment, even through the bankruptcy. Is it possible to do a loan modification even though you are in bankruptcy? What happens if you miss payments in your Chapter 13 plan? Thanks so much for your help!

The response is that you folks are definitely in a tough position. Yes, it is possible to work with your lender in order to work on a loan modification even though you are filing for bankruptcy, however there can be several negative effects. First, many lenders will not work with you if you are making your mortgage payments. If you are making your mortgage payments through your bankruptcy plan, you will have to miss your payments. If you miss your bankruptcy payments, then the court can dismiss your case and you will not receive a discharge. It is definitely a risk that you will be taking for a result that may not be guaranteed. I strongly recommend that you contact an attorney before you make this sort of decision.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney has an example of one bankrutptcy inquiry with regard to credit card debt...

Many Bay Area consumers in debt worry about being able to keep credit cards that are paid off while filing bankruptcy on those that are not. For example, one such bankruptcy candidate in our San Jose bankruptcy law firm asked just yesterday:

"I want to file for bankruptcy, but want to be able to keep a couple of my credit cards. If I have 2 credit cards with the same company and one is paid off and the other is going to be part of my bankruptcy, will they cancel the paid off card?"

Unfortunately there is no concrete answer for this bankruptcy scenerio. While they may have no reason to cancel the one that is paid off, they can still cancel it. Some credit card companies even run quarterly credit checks and if they see a certain amount of debt, or find out about the bankruptcy, they will close the account. In short, it's completely up to the credit card company.

This is why speaking to a qualified, educated bankruptcy attorney is crucial to informing yourself on all of the options involved in filing bankruptcy. Consulting with an attorney means your specific circumstances, which may or may not "fit the mold" of other bankruptcy candidates can be addressed and all of your questions answered.

If you do have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney comments on the effects of bankrupty on child support income...

Many bankruptcy candidates that are single moms have questions similar to this:

"I recently lost my job several months ago and am contemplating filing for bankruptcy. I am a single mother of 2 children and my only sources of income right now are unemployment and child support I receive from my ex-husband. Will filing for bankruptcy affect my child support?"

You do not need to worry about a bankruptcy affecting your child support. The amount that you are paid for child support does not change or stops just because you file for bankruptcy. The father of your children is obligated to pay that amount pursuant to a different court order and that order is not affected by a bankruptcy. The only way the amount of support owed could change is if father went to the family law court and requested a change in the amount owed. He would not be able to do this in the bankruptcy court.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney answers: Can a debtor pre-petition disclaim an inheritance?

Debtors father passed away 8 months prior to her filing for bankruptcy. She executed a disclaimer before she filed. Trustee tried to claim a fraudulent transfer. Such disclaimers generally relate back to the time the interest originally passed (the father’s death), and the property is deemed never to have belonged to the disclaiming party, which means it cannot be reached by her creditors.

The disclaimer was not a fraudulent transfer and the key factor is that disclaimer was done before the bankruptcy and therefore never became property of the estate. If bankruptcy had been filed and then the disclaimer was made it would have been different outcome. So, prepetition disclaimers on estate property are effective.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy lawyer describes the confirmation hearing during a Ch. 13 bankruptcy

Bay Area debtors who file Chapter 13 will want to understand the confirmation hearing process. Basically in a Chapter 13 a judge must approve your Chapter 13 plan. This approval takes place at the confirmation hearing. Here, a judge will address any objections to your plan raised by creditors.

Unlike the creditors’ meeting, the confirmation hearing will be run by a judge. For those debtors in Northern California who are terrified at the prospect of sitting in front of a judge, if you are represented your attorney usually attends solo. If, however, a debtor is self represented they must appear. Since judges like efficiency they generally call cases that are uncontested or fairly straight forward first.

Debtors in San Jose may wonder why a confirmation hearing is required. The meeting allows a judge to evaluate your plan, and inquire whether or not you can make your payments. In addition, it allows the judge to ask creditors specifically about their objections, hear your response, and make a ruling. If your plan needs to be amended you probably will be allowed an opportunity to comply. Otherwise, if it’s obvious you can’t afford your plan your case may be dismissed.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy lawyer reviews third quarter bankruptcy findings

According to the American Bankruptcy Institute (ABI) March 2010 bankruptcy numbers are at their highest: a staggering 149,268. This data via the National Bankruptcy Research Center (NBKRC) compares its height to 2005’s Bankruptcy Code overhaul by Congress. This is a 34% increase from February 2010 and a 23% rise from March of 09. Other interesting tidbits are that 25% were Chapter 13 filings. Chapter 7 bankruptcy filings – aka the “Fresh Start” for debtors looking to alleviate their debt and get a second chance, occurred for three out of four debtors who filed bankruptcy in March.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney comments on Annie Leibovitz and bankruptcy...

Even San Jose bankruptcy attorneys are familiar with Annie Leibovitz. She is an American celebrity photographer most famous for the photo shoot she had with John Lennon just five hours before he was killed. Throughout her career she has photographed many celebrities and is renowned in the world of photography. Leibovitz popped back in the headlines when she took the first official photo of the First Family. The photo was released by the White House on October 23rd.

Despite her lifelong success, Leibovitz may be forced to file bankruptcy. After taking out a loan in 2008 due to financial trouble, Leibovitz now owes $24 million to Art Capital Group. In addition to offering several properties as collateral, she offered copyrights to all of the photography work she has ever done or will do. In July of 2009 Art Capital sued Leibovitz, though eventually the two parties came to an agreement, and Leibovitz bought herself some time.

Whether or not the famed photographer will be able to catch up financially and pay off her loan with Art Capital is yet to be seen. If she cannot make her payments then she will most likely need to review bankruptcy as an option. In the end a bankruptcy may even help her be rid of her financial troubles so she can have a fresh start and focus on her photography.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney comments on the bankruptcy of National Heritage Foundation

Generally, in our Bay Area bankruptcy practice, when we hear of bankruptcy in the news we think of a major company such as GM filing bankruptcy. In this instance, however, the non-profit organization National Heritage Foundation has filed for bankruptcy protection. While bankruptcy normally seeks to eliminate debts to creditors and banks, the National Heritage Foundation wiped out $25 million of debts not to lenders, but to charitable donors.

These donors had charitable gift annuities with the National Heritage Foundation. Charitable gift annuities are a common practice here in Fremont and all over the country. A charitable gift annuity is where a person donates a fixed amount of money to the non-profit organization, and then the donor or another person of their choosing is paid a fixed monthly amount for the rest of their life as a return. Many people have found this an excellent use of their money because they want to support a charitable organization, and it also creates a fixed income while having tax and risk advantages over other investment options.

While we do not know of anyone in San Jose who was affected, Maurice and Theresa Townsley of Monterey, California had donated $1.2 Million to the non-profit.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney comments on the debt level of Nicholas Cage...

In my San Jose bankruptcy office, I note bankruptcies in the news, as well as bankruptcy candidates. You may have read that Nicholas Cage owes the IRS $6.6 million in income taxes. How could this happen to someone who is as successful as he is? Cage is certainly not having trouble finding work – according to the IMDB he was in 4 films in 2009 alone and has 4 more coming up in 2010. It is tough to see why he is having trouble paying his taxes, but it shows that it can happen to anyone.

What should the Hollywood celebrity do? Does he need to go bankrupt? How about others in his position? Can bankruptcy help them eliminate debts to the IRS?

Cage isn’t the only one struggling to pay his taxes. In our current economic climate, many people are having difficulty keeping up with all of their debts, including taxes. The good news is that while many of us think of bankruptcy as being for debts such as credit cards and auto loans, taxes are often dischargeable in a bankruptcy.

Whether or not your taxes can be discharged depends on various factors. When the taxes were due to be filed and when they were actually filed are two of the major factors involved in determining whether or not the taxes can be discharged, though the courts will also look at other aspects of your situation, such as whether or not you intentionally evaded the IRS.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney comments on filing bankruptcy twice...

San Jose bankruptcy attorneys are often asked this question, and you may have wondered yourself (whether you are considering filing bankruptcy or not): Can a person file bankruptcy more than once? The answer is absolutely! Donald Trump filed bankruptcy twice, and so can you. Many people who have filed bankruptcy in the past find themselves having trouble paying their debts due to unemployment, slow business, or one of the many other factors being affected by the current economic climate. Bankruptcy laws are accommodating to this, and allow you to file bankruptcy again. What form your Bankruptcy takes will depend on when you last filed along with your financial situation.

In regards to the receiving discharges between chapter 7 and chapter 13 cases, the following rules are generally applicable: If you filed a chapter 7 bankruptcy in the past, you can file for chapter 7 bankruptcy again 8 years after the date of discharge. If you filed for chapter 13, you generally must wait 6 years before you can file for chapter 7 unless you show that you paid all permitted unsecured claims in full in your previous chapter 13 or that you made payments under the plan in the previous chapter 13 totaling at least 70% of the permitted unsecured claims and the plan was proposed in good faith and represented your best efforts.

If you filed a chapter 13 before, you can file another chapter 13 in just 2 years after your original chapter 13 filing, or if it has been 6 years since your original chapter 13 filing you can file a chapter 7 bankruptcy, as long as you qualify.

If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys.  After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you.  Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down,  stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs.  Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.