CHAPTER 7 BANKRUPTCY PRE-FILING PLANNING Once a Chapter 7 bankruptcy is filed, all of the assets of the debtor that filed becomes property of the bankruptcy estate. Immediately upon filing, a Chapter 7 the bankruptcy court appoints a bankruptcy Trustee to sell your “nonexempt” assets or those things not protected...
Homestead Exemptions in California Protect Your Home Part I A homestead exemption can protect a homeowner’s principal residence from creditors against loss in the case of bankruptcy, judgment or death of a spouse. The California Constitution (Cal. Const. Art. XX, § 1.5 ) protects a homestead: “[t]he Legislature shall protect,...
Bankruptcies are on the Rise Do Not Violate the Automatic Stay or Discharge Injunction The American Bankruptcy Institute issued a report on October 29th that indicated that as stimulus checks and other forms of temporary relief run out, experts are projecting an increase in personal bankruptcy filings, which have so...