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,...
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 harassment that debt collectors do? A....
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 are considering bankruptcy, here are some actions you can do to protect yourself and your assets. Actions you SHOULD DO: Take your situation seriously. Ignoring your financial trouble will not make it go away. Speak to a bankruptcy attorney as...
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)...
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 is in progress, he takes...
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: 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 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 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 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 Your employment will not be affected if you file bankruptcy. One of the factors that keep professionals and employees from seriously considering bankruptcy is the fear of how it may impact their employment. It is very important to know that the...