Bankruptcy News

By Atty. Crispin Caday Lozano   It is possible that a creditor could obtain a court order to garnish your wages.  In other words, they can take money right out of your paycheck to pay your debts.  In some cases, wage garnishments may take more than...

By Atty. Crispin Caday Lozano   Before you file bankruptcy, you may need to determine if you have a bank deposit and a credit card debt with the same bank because your deposit may be set off against your debt by the bank. Question:     May a bank set...

By Atty. Crispin Caday Lozano   If you file for Chapter 7 bankruptcy, your ongoing social security income is exempt, which means you keep them.  Social security payments you received before you file for bankruptcy are also exempt, with one important exception. If you comingled (mixed) the...

By:  Crispin Caday Lozano Many people believe bankruptcy as a last resort to save an unsuccessful financial aspect of life.  However, financial problems necessitating bankruptcy are not the result of poor decisions. Sometimes people are not financially prepared for a major life change such as unemployment,...

By Atty. Crispin Caday Lozano Q. What is Sec. 341 meeting of creditors? A. Every debtor, regardless of the chapter, must make one appearance in the case, though it is not really in "court" since the judge is not present. The court schedules a meeting of creditors...

By Atty. Crispin Caday Lozano   As we all know, tax debts can spiral out of control and lead to an IRS tax lien, wage garnishment, or even property seizure.  Most people mistakenly believe that taxes are never dischargeable in a bankruptcy. This myth is absolutely wrong!...

By Atty. Crispin Caday Lozano   When you file your bankruptcy papers, a bankruptcy estate is created that is administered by the trustee designated by the U.S. Department of Justice.  The trustee is the representative of all your creditors in the process. While the bankruptcy process...

By Atty. Crispin Caday Lozano Many people do not know if they can still file bankruptcy while they are in the debt settlement or debt consolidation program. Question:      Can I file bankruptcy while in the process of debt settlement? Answer:        If you are in debt settlement you can...

By Atty. Crispin Caday Lozano A good bankruptcy attorney will guide clients whether or not to reaffirm a secured debt.  There are considerations before a debtor would want to reaffirm a debt.  In a Chapter 7 bankruptcy, the debtor must submit to the court a schedule...

By Atty. Crispin Caday Lozano A good bankruptcy lawyer can help a lot to make bankruptcy filing less burdensome.  Handling it without an attorney will make it hard, expensive and very painful. Although Chapter 7 is the chapter under the Bankruptcy Code that most consumers file and...

By:  Crispin Caday Lozano Many people believe bankruptcy as a last resort to save an unsuccessful financial aspect of life.  However, financial problems necessitating bankruptcy are not the result of poor decisions. Sometimes people are not financially prepared for a major life change such as unemployment,...

By Atty. Crispin Caday Lozano When you file for Chapter 7 bankruptcy, the goal is to discharge of your debts.  The worst-case scenario is not only getting your case dismissed, but having it dismissed for abuse. The bankruptcy court can dismiss your case if it finds that...

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