Bankruptcy News

By Atty. Crispin Caday Lozano Q. When you have decided that you want to file bankruptcy, the first question that pops into your mind is what information to disclose in the bankruptcy petition? A. Using the golden rule in bankruptcy "disclose everything and hide nothing" there...

By Atty. Crispin Caday Lozano In a Chapter 7 bankruptcy, the debtor must submit to the court a schedule (Schedule D- Creditors Holding Secured Claims) indicating all of their secured debts (mortgages, vehicle loans, and purchase money loans for furniture, jewelry, or household goods, as well...

By Atty. Crispin Caday Lozano   Chapter 13 Bankruptcy is a reorganization of your debt while paying back your outstanding debt to creditors.  Chapter 13 is Bankruptcy intended for an individual or family with a regular income.  The first and main requirement to file for Chapter 13...

By Atty. Crispin Caday Lozano If you are near your retirement age, you must act now or else you will find yourself miserable during your "golden years" or retirement period.  Bankruptcy is a great financial planning tool for those who are within a few years from...

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 If you file for Chapter 7 bankruptcy, your ongoing social security income are 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 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 IRS Tax Relief in Bankruptcy 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...

By: Atty. Crispin Caday Lozano If you file for Chapter 7 bankruptcy, your ongoing social security income are 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 Atty. Crispin Caday Lozano If you file for Chapter 7 bankruptcy, your ongoing social security income are 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...

If you are considering bankruptcy, here are some actions you can do to protect yourself and your assets. Actions you SHOULD DO: 1. Take your situation seriously.  Ignoring your financial trouble will not make it go away. Speak to a bankruptcy attorney as soon as possible. 2. Commit yourself to...

Q. How can bankruptcy stop the debt collectors’ harassment? A. As soon as you file either Chapter 7 or Chapter 13 bankruptcy, the court issues an automatic stay. This prevents creditors and debt collectors from contacting you, putting a stop to all creditor harassment. Q. What are the forms of...

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