California Bankruptcy Basics: When To Use 703 Versus 704 Exemptions To Protect Your Property

**Please note that this blog article is not to be construed as legal advice, nor does it create an attorney / client relationship.  Please consult an attorney or contact our office should you desire a consultation** Here in California, when preparing your bankruptcy paperwork, one of the critical components of your paperwork includes your “Schedules”.  These Schedules are, as I like to call them, the heartbeat of your bankruptcy as in this set of papers you disclose your income, expenses, … Continued

California Bankruptcy Exemptions as of August 2017

Please note that the California exemption statutes below are as of August 2017.  They do change periodically so please consult with a bankruptcy professional (such as me), or go online to the bankruptcy court website prior to relying on any numbers in case they’ve changed. When you file bankruptcy, the laws in California allow you to protect or “exempt” certain assets up to certain amounts.  Keep in mind that if you’re not able to protect certain assets using applicable laws, … Continued

WHY BANKRUPTCY CAN BE A BETTER OPTION THAN DEBT SETTLEMENT

I often have clients that come through our office asking about the option of debt settlement or debt consolidation to avoid filing a bankruptcy.  While the intent is noble, there can be many pitfalls that you are not aware of when trying to either negotiate down your debt, or alternatively, contract with a debt consolidation company to remedy your debt. Let me cut right to the chase in discussing the potential problems with each of these “solutions”.   Debt Settlement … Continued