California Bankruptcy Lawyer Blog

Allegations that California foreclosure auctions and tax deed sales are being manipulated have surfaced and the FBI is reportedly conducting an investigation. Rumors are circulating that speculators are rigging the bids at the auctions by paying some bidders to not make offers. This results in the auctioned property selling for a lower price. The auctions allow buyers to purchase properties at prices below market value. 

Reportedly, federal investigators have issued warrants in connection with the claims, citing possible instances of anti-competitive activities. If the California foreclosure auctions are found to be rigged, those participating can be charged with violation of the Sherman Antitrust Act. Penalties for violating the Act include up to 10 years behind bars and up to a $1 million fine. 

Most auctioned properties go back to the lenders while approximately 20% are actually bought by third parties. While rumors of the unfair practices have increased in the past few years, nothing has been proven and consumers are being asked to not form opinions until completion of the investigation.

If you have a question regarding Bankruptcy in California please contact us at 1800.941.6730 and we can connect you with one of our experienced California Bankruptcy Attorneys . Sagaria Law can assist you with all aspects of your bankruptcy case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, lien stripping , a cram down, stopping a foreclosure or wage garnishment, asset protection, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist in all of these important areas. Please complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.

A San Jose bankruptcy attorney examines the bankruptcy exemption...

A bankruptcy exemption is a property or asset that belongs to a debtor which they are able to keep when filing bankrutpcy. Bankruptcy exemptions have to be authorized and are subject to state and federal laws. Once the bankruptcy exemption is authorized, the debtor includes it in their schedule list for their bankruptcy petition with any other bankruptcy exemptions which could include a house (under the Homestead Exemption, for example), a car, home furnishing and/or retirement assets.

If you are in debt and concerned about bankruptcy exemptions - "What do I get to keep if I file bankruptcy?" - then speaking to an experienced bankruptcy attorney may be the best option for you.

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.