San Francisco Bankruptcy Attorney Blog

A San Fracisco bankruptcy attorney addresses a question regarding a Bankruptcy Trustee

Question: Who is a bankruptcy trustee?
Answer: A bankruptcy trustee is a third party appointed by the bankruptcy court assigned to a bankruptcy case. It is the role of the bankruptcy trustee to be impartial and carry out any and all duties associated with the trust. Part of the duties of the bankruptcy trustee is to hold and manage the assets of the debtor for his or her creditors. When a bankruptcy is filed, either by an individual (as in a Chapter 7 bankruptcy) or by a company (as in a Chapter 13 bankruptcy filing) all of their property and/or assets become property of the bankruptcy estate. This bankruptcy estate is then managed by the bankruptcy trustee.

In the Chapter 7 bankruptcy filing scenario, a bankruptcy trustee is selected from a panel of trustees and is therefore sometimes referred to as a panel trustee. Whereas, in a Chapter 13 bankruptcy filing there is a permanent or standing trustee that is automatically assigned to manage the assets of the bankruptcy case.

In a bankruptcy filed under Chapter 11 of the United States Bankruptcy Code, a bankruptcy trustee is not used, rather the debtor manages the property of the bankruptcy case and the bankruptcy is therefore termed a “debtor in possession.”

As an aside, the bankruptcy trustee is not to be confused with a United States Trustee, an officer of the Department of Justice, who is in chage of the appointment of the bankruptcy trustees and other types of trustees.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney marvels at GM's loan payback after bankruptcy reorganization (aka filing Chapter 13 bankrutpcy)

After filing Chapter 13 bankruptcy Getting a 5 year jump on their payback deadline, GM announced today through sevearl news sources that they are returning the 8.1 billion to the government ahead of schedule. The speedy turnaround is said to be much due to labor cutbacks within their Chapter 13 bankruptcy reorganization last year.

GM took good advantage of the Chapter 13 bankrutpcy option and ran with it.

White House econmic advisor Larry Summers said, "This turnaround wasn't an accident of history. It was the result of considered and politically difficult decisions made by President Obama to provide GM and Chrysler -- and indeed the auto industry -- a lifeline, if they could demonstrate the will to reshape their businesses."

Bay Area consumers have the same lifelines available to them with bankruptcy options through Sagaria Law.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney takes note of potential new disclosure rules with regard to distressed investors' participation in bankrutpcy cases...

New disclosures that may be set forth in bankruptcy cases with regard to implementing a demand for broader disclosure for investors that would shed more light on their various activities, including trading, have recently gotten the bankruptcy news spotlight. Specific to bankruptcy cases, these new rules being set forth are possibly a bone of contention for said investors, who typically wish to fly low on the disclosure radar, so to speak. Looks like most judges advocate in favor of the disclosure rather than the distressed-debt investors, encouraging the backing of the disclosure proposal despite investors’ wishes to guard their goings on when involved in a bankruptcy case.

An article in the Wall Street Journal quotes Kevin Carey, Delaware bankruptcy court’s chief judge as stating, “If you want to come into bankruptcy court, you tell us who you are,” and further, “The judge can’t be kept totally in the dark.”

Carey spoke at a recent forum held in New York, the Turnaround Management Association’s spring conference, and amongst hot button bankruptcy topics was the ever-growing aggressiveness of creditor groups rallying for larger recoveries.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney discusses
the Fallout of Vallejo's bankruptcy...

Vallejo filed for Chapter 9 bankruptcy in 2008 and, according to the Vallejo Times Herald, the fallout continues to this day.

CIty officials hoped for economic recovery signs in 2009, and acknowledged the financial hardship would continue, not unlike debtors in Northern California who are faced with filing bankruptcy, only their financial harship can end with a Fresh Start when they file bankruptcy. The city of Vallejo is not so lucky.

With guesstimated city deficits projected to increase annually, between $7 million and $12 million annually for the next 5 years, adding to the the financial burden are layoffs planned back in December that will go into effect next month for 6 police employees (officers) in conjunction with some demotions in rank for other employees. This is in addition to a combination of 6 retirees and those that quit serving the police department in 2009. Again, a similar scenario when considering unemployment for San Francisco residents as a factor in bankruptcy filings.

As a municipality that California acquiesced to cover loans that Vallejo was borrowing November voter results caused a renewal of the city's existing telecommunications
utility users tax, worth about $5.2 million, to quote the article.

An over $1 million general fund reserve was established by Interim City
Manager Bob Adams, but its cushion only slight compared to Vellejo's reserve target of 15 percent of the budget.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney discusses a Rise in Bankruptcy Filings

I couldn't help but ponder, from my San Francisco bankruptcy firm that, throughout the decades, America has experienced a growth spurt unlike any the world has seen since the early Rome. That growth has been spurred by entrepreneurs and thinking outside the box. A substantial factor in Americans ‘boldness’ to expand is the security and comfort of knowing they are backed and supported by a system of government and laws that promotes such risk taking. In response to Americans placing their livelihood on the line for business, the government created an ‘escape hatch’ for those whose ideas failed, bankruptcy. Bankruptcy is a backbone for the American dreamer who places his life on the line and risks it all for his dream. What would the Silicon Valley be if Steve Jobs was too afraid to take his garage-based computer company public?

Bankruptcy was established to assist those whose ideas never caught on. But is that protection being abused? Some think so, based purely on the spike in recent bankruptcy filings. In 2005, the laws surrounding bankruptcy filings tightened and it made it more difficult for the average American entrepreneur to file for bankruptcy in an attempt to filter out the fraudulent filings. Back in 2005, almost 2.1 million petitions were filed across the country, approximately 5,750 filings per day. In 2006 following the enactment of new laws, the bankruptcy filing rate plummeted to approximately 1,000 per day.

The bankruptcy rate has steadily risen since 2006 and in 2009, the rate increased almost 24% from 2008 filings. More and more Americans are being laid off, losing their homes, and being forced to file for bankruptcy protection. More and more people are reaching out to their government to help them get back on their feet and re-stimulate the economy. It is projected that as the hard economic times continue, the bankruptcy filing rate will continue to rise. At what point does bankruptcy become a norm?

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney discusses the potential bankrutpcy of Major League Baseball's Texas Rangers.

According to a Bloomberg report, the Texas Rangers may be headed for bankruptcy as a result of stumbling blocks with their sale initiated by controller and billionaire Thomas Hicks, of Hicks Sports Group, LLC. It is said that either the sale’s terms need to be determined or another buyer found.

Monarch Alternative Capital, which is said to be captaining the group of creditors owed money by Hicks Sports Group, LLC may take action to block the sale due to a $525 million default in debt from last year. A move like this would potential force the team into bankruptcy.

Although the debt discussions are private, it is said that the group of creditors is seeking $30 million additional funds from the sale of the Texas Rangers.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney discusses unscheduled property

Can you reopen a bankruptcy case 70 years after it was closed for purpose of administration? Yes you can. In re Dunning Brothers Co 2009 WL 2842734. It is well settled that unscheduled property of the debtor is still property of the estate. This estate was closed in 1936. Debtor failed to schedule 3 parcels of real property that railroad had easements and now which to acquire. Issues the Court was concerned with: does Bankruptcy Act still apply (yes it does), whether a post Northern Pipeline bankruptcy court exercise jurisdiction to reopen (it may), and whether the changes over the years “for cause” standard for reopening make any difference (they do not). Case reopened and administered.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney discusses filing bankrutpcy to alleviate tax debt...

Bankruptcy is well known to have been used by people that cannot pay their debts to commercial organizations. What a lot of people don't realize is that bankruptcy can also be used against government organizations. The major revenue department of the U.S. government is the IRS and there are a lot tax payers that find it hard to cover their tax liabilities. One possible option is to file for bankruptcy on your tax debt.

There are two chapters that maybe used for bankruptcy, Chapter 13 and Chapter 7. Chapter 13 is called a reorganization bankruptcy which basically allows you a period of 3 to 5 years to get your financial affairs in order, whilst paying back a reduced amount of outstanding tax during this period. Usually any outstanding tax will incur interest payment penalties. The tax payments will not be reduced if the IRS has already issued a tax lien prior to your bankruptcy. This is because a tax lien becomes a secured debt. Chapter 7 is called a liquidation bankruptcy and can be used for debt that is over 3 years old. Filing a chapter 7 will remove your tax debt if the IRS has not issued a tax lien on you prior to you filing chapter 7. If the IRS have issued a tax lien to you, then the tax debt is held until you have removed yourself from chapter 7, when it will then become payable. You must plan out your financial obligations post chapter 7, before removing yourself from bankruptcy.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney remarks on claiming personal debt in bankruptcy

In our San Jose bankruptcy law firm, we often get the question of whether or not debt paid for by a family member’s credit card can be claimed as personal debt by the bankruptcy filer? In other words, in an effort to consolidate debt, some consumers in debt try to do so by merging credit cards into one debt, then getting assistance and putting the total amount of credit card debt onto a family member’s credit card, then opting to pay them instead of the credit card company. Once they decide to file bankruptcy, it is a common inquiry as to what status this type of debt falls under.

In this case, the debtor would list the amount owed to the family member as a personal loan. If you owe the family member money, even though they paid your bills on their credit card, it would still be considered as a personal loan owed to them by you.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy Attorney mentions credit card debt...

One of the most common triggers for today’s bankruptcy filings results from people having significant credit card debt that they are barely able to make the minimum payments on.

Everything goes along fine for months, maybe years, until suddenly–and frequently unexpectedly–the interest rates on their credit card(s) jumps from a very low (or zero) interest rate to over 22%! The main reason this happens is when the cardholder defaults on the cardholder agreement. This could be as simple as missing or being late on a payment, or more unexpectedly because you simply have too much overall debt.

A good warning sign is: If you are barely able to make just the MINIMUM payments on your credit cards, you should already be considering bankruptcy as an option because even if you continue making only the minimum payments, you will never pay off those debts because nothing (or only a negligible amount) goes towards the principal.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy attorney on Student Debt and Bankruptcy

Most assume that student loans are not dischargeable in Bankruptcy. There are, however, exceptional circumstances where student loan debt may be discharged. Consequently, while difficult, bankruptcy can be an avenue to eliminate student loan debt!

Specifically, federal bankruptcy courts have established a three part test. A debtor must show: 1) based on current income and expenses the debtor cannot maintain a minimal standard of living for the debtor and debtor’s dependent(s) if forced to repay the loan; and 2) additional circumstances exist indicating that this state of affairs is likely to persist for a significant portion of the repayment period; and 3) the debtor has made a good faith effort to repay the student loan.

Do you fall into this category? Do you have exceptional circumstances? Than you may possibly qualify to discharge your student loan debt!

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy lawyer comments on Credit Cards Interest Rates

For many, filing bankruptcy remains a fearful endeavor because it negatively impacts one’s credit score. While true, this fear must be placed in perspective. To begin, after filing bankruptcy it’s possible to have good credit within a year or two. You will not, however, be receiving any low interest rate offers, and your local Sears associate will not approve you for a new Sears card (so you can save 10 percent on your purchase that day)…big loss. Still, this last point leads into my latest revelation. LISTEN UP!

Have you noticed you don’t receive nearly as many credit card offers in the mail? Believe me, it’s not your imagination. Credit card companies are tightening their standards, and interest rates have risen! Today, the average rate is now 15.39 percent! So while filing bankruptcy will negatively impact your credit score…rest soundly because the Jones’s are not getting a great interest rate either!

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy lawyer relays information on Ex Spouse and Credit

Listen up Oakland. Is your ex spouse using joint credit cards purchased during your marriage? Are you aware that you may still be responsible in the eyes of credit reporting agencies for those debts if they are not paid off? Didn’t know that? Better listen.

The Federal Trade commission warns that simply because a divorce decree states that one spouse shall be responsible for paying off certain credit cards, does not absolve the other spouse of responsibility in the eyes of the credit reporting agencies. Consequently, the safest bet is to cancel all credit cards post divorce and begin anew.

If you’ve recently found yourself in this predicament don’t fret. Bankruptcy and legal debt settlement both present viable options to getting out from this kind of debt!

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy attorney speaks to the 341 Meeting of Creditors

For those facing bankruptcy the phrase, “meeting of creditors,” has ominous overtones. No doubt, some may picture a room full of ornery old men in dark suits pointing fingers and casting judgment. Thankfully, this depiction couldn’t be further from the truth.

In reality, the meeting of creditors for the vast majority of debtors constitutes a five minute inconvenience. You will sit at a very plain table. If you are represented by counsel they will be present along with the trustee who has been assigned your petition. You will be sworn in, asked a few questions, and then dismissed. Moreover, in most chapter 7 and 13 bankruptcy cases, no creditors are actually present.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy lawyer discusses lawyer talks about Chapter 7 Liquidation and your home

Many fear they will lose their home and all their possessions if they file Chapter 7 bankruptcy. In reality this probably will not occur. To begin, simply filing chapter 7 bankruptcy doesn’t mean you will automatically lose your home. There are several options that a debtor may take to ensure they keep their home.

For those with equity in their homes, California allows a 50,000.00 homestead exemption. Consequently, as long as a debtor has $50,000.00 or less in equity in their home the Trustee many not liquidate. Still, it should be noted that a debtor must remain current on their payments or face foreclosure. While Bankruptcy technically eliminates the promissory note, it does not eliminate the lender’s lien on the residence. Thus, a lender still has the right of foreclosure in case of default.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy lawyer translates

Certain transactions made before filing bankruptcy may carry a presumption of fraud. Consequently, these transactions will not be discharged. Anyone considering filing for bankruptcy should therefore consider not only whether to file, but when to file.

For example, if a debtor charges $500 or more in luxury goods or services on a particular credit card within 90 days of filing bankruptcy, such a transaction will carry a presumption of fraud. The debt will not be discharged and the debtor will remain personally liable for the debt. These traps, however, are easily avoidable by consulting a knowledgeable bankruptcy attorney.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy attorney comments on transferring property

Those who are considering filing for bankruptcy should consider whether or not they’ve transferred property within the last two years. If a debtor has given property away or sold property for less than its market value, a trustee has the power to void the transaction, sell the property, and distribute the proceeds to creditors.

If you’ve made such a transaction in the past two years, and are also considering filing bankruptcy, you may want to wait if possible for the two years to pass before filing. If you cannot wait, you must decide whether or not to notify the new property owners. An experienced bankruptcy attorney can provide valuable guidance in such circumstances.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

A San Francisco Bankruptcy attorney says no pennies for Lincoln

Ironically, while Abraham Lincoln’s face now appears on the penny, at one point Lincoln didn’t have a penny to spare. In fact Lincoln actually declared bankruptcy after he became liable for $1,000.00 in back payments owed by his business partner.

In addition to Lincoln, several other former Presidents have filed bankruptcy. Ulysses S. Grant, Thomas Jefferson (several times), and William McKinely all filed bankruptcy; but who cares? In short, you should! Realize that while many consider bankruptcy a negative thing, history teaches that bankruptcy may constitute a stepping stone to great success!

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!