When you’re dealing with a difficult financial situation, the last thing you want to attend is a meeting of creditors. However, everyone who files bankruptcy must attend a 341 hearing. During this time, your attorney will be by your side and help you answer questions about your bankruptcy. If you’re considering filing bankruptcy or have an upcoming meeting of creditors, contact The Law Offices of Diane Anderson today at (209) 245-8788. What Is A Meeting Of Creditors? A meeting of creditors is often called a “341 hearing” because it is required by section 341 of the U.S. Bankruptcy Code. Bankruptcy involves several different hearings, including a 341 meeting of creditors. During this meeting, you will sit at a table with your bankruptcy trustee and any creditors who choose to attend. You will discuss the information you provided in your bankruptcy paperwork and answer any questions from the trustee. Who Will Attend? The meeting of creditors is intended to allow creditors to face you prior to court. However,…Read More
If you’re swimming in debt and are considering a business bankruptcy, we can help. When you start a business, you have high expectations for success. However, some businesses face bumps in the road along the way. You may feel like you have little control over your income and expenses right now. It’s important to seek the help of a compassionate business bankruptcy attorney in California like Diane Anderson. Call us today at (209) 245-8788 for a free consultation. What Is Business Bankruptcy? Small businesses face financial issues frequently; however, you do not have to see it as a failure. Business bankruptcy may give you the relief that you need to move forward with your life. It can be difficult to determine if it’s the right time to file bankruptcy or if you should continue to seek other debt management options. If you have questions, it’s best to consult with a business bankruptcy lawyer who can present your legal options and make sure your best interests are protected.…Read More
You have probably heard that it is very important to review your bankruptcy pleadings to ensure that they are true and correct. But, what happens if you later discover a mistake? You should immediately notify your bankruptcy lawyer. If your case is still pending, he or she can take action to correct the error. Even if you case has been closed and you received a discharge order, it may still be possible to reopen your filing and cure the mistake. The most common reason a judge will allow a debtor to reopen a case is to fix a procedural error. Below are a few examples: Debtor’s failure to timely file a counseling certification (Official Form 23) Debtor’s failure to follow the proper procedure to remove a judgment lien on debtor’s home Debtor’s failure to list an essential creditor in the filing Debtor’s failure to disclose a significant asset Debtor’s receipt of a windfall of money (trustee may seek to reopen case) Any other reason approved…Read More
If you have missed several mortgage payments and your mortgage lender is threatening to foreclose on your home (or a foreclosure lawsuit has already been filed), it is important to consider all of your debt relief options. Filing a personal bankruptcy is a common way homeowners try to avoid losing their home in a foreclosure action. The two main types of bankruptcy cases filed by individuals are Chapter 7 and Chapter 13. Each type has its advantages and disadvantages. Thus, you should confer with a seasoned bankruptcy attorney to review your unique circumstances and make sure you understand how each type of filing will impact you. A Chapter 7 filing (commonly referred to as a ‘liquidation bankruptcy’) can result in your non-exempt assets being liquidated to pay your creditors. However, the reality is that most Chapter 7 debtors have very few assets that are not protected by exemptions, so they get to keep all of their assets while discharging the majority of their debt. A…Read More
One of the main benefits of filing for bankruptcy protection is the automatic stay. The automatic stay protects the debtor from continued collection efforts while the bankruptcy case is pending. When you file a Chapter 13 case, there is also a “co-debtor stay” that protects your family member, friend or other party who co-signed loans with you. The co-debtor stay is not available in a Chapter 7 filing. The co-debtor stay protects your co-borrowers from collection efforts while your Chapter 13 case is pending. Similar to the automatic stay, the co-debtor stay does not change or discharge the financial obligations under the terms of the loan. The application of the co-debtor stay also has some limitations. For instance, the co-debtor stay does not prevent collection against a co-borrower on a debt the debtor incurred in the “ordinary course of business.” Further, tax debts are generally not considered a consumer debt, so it can be collected. According to 11 U.S.C. §1301, the co-debtor stay applies if…Read More
It is imperative for all adults to have a living will or health care surrogate (HCS). But, if circumstances in your life change, it is important to understand that you can change your previous written wishes. You will hold the power to ultimately make your health care decisions, even altering your health care documents. If you wish to change your health care documents, below are a few ways they can be terminated: Revoking your documents. Revoking your health care documents is always an option. You can sign and date a letter of revocation, you can physically destroy the original documentation, or you can sign a later document that is materially different from the prior document. If you want to revoke prior designations, you must notify all of your physicians and other health care providers. You should also inform your appointed HCS of the changes. Obtain court order. If your health care directives are challenged in court, the judge has the ability to invalidate your documents.…Read More
Filing a Second Bankruptcy[/caption]If you are struggling with debt and you want to file a personal bankruptcy, but you have previously filed for bankruptcy protection, it is important to understand how it will impact you. The law allows an individual to file multiple bankruptcy cases, but there are limitations on when the second or third case can be filed. Your ability to file a subsequent bankruptcy case depends on the type of case you filed initially and whether you obtained a discharge of your debts. In most situations, a debtor is allowed to file a new bankruptcy case at any time if the previous filing was dismissed and a discharge order from the court was not granted. If your first filing was a Chapter 7 bankruptcy and the court granted you a discharge of your debt: you can file a subsequent Chapter 7 case and receive a discharge after 8 years from the day your first case was filed. you can file a Chapter 13…Read More
If you are delinquent on paying your loans or bills and a creditor has obtained a court judgment against you, it is important to determine whether your creditors have placed judgment liens against your real property. A judgment lien is a collection tool that only judgment-creditors can use to help ensure that they get paid what you owe them. If you decide to sell your property that has the judgment lien against it, the creditor will be paid from the sale proceeds. It is important to tell your bankruptcy lawyer if you have judgment liens against your home. If you are not sure, ask your attorney to do a search of the real estate records. You will want to ask the bankruptcy court to remove the judgment lien from your house. The discharge order does not automatically eliminate liens from real property, so you must file a specific motion seeking such relief. You can also seek to “strip” a lien in certain circumstances. Of course,…Read More
There are thousands of lawyers out there, so it can feel overwhelming to think about finding the right one to help you file your bankruptcy case. Below are a few important steps you should take in finding the right attorney: Research your options. The Internet provides you the opportunity to verify a lawyer’s credentials and experience. For example, you can search sites such as martindale.com, Avvo and the applicable state bar association website to determine whether the attorney if in good standing, has a good reputation, and experience in handling personal bankruptcy cases. You should also review the law firm’s website to confirm that they list bankruptcy as one of their primary areas of practice. Further, you can see if they post blogs or articles discussing bankruptcy topics and giving advice on situations similar to yours. This is a good sign that the attorney is familiar with and has the ability to explain bankruptcy law. Ask for referrals. While the lawyer that was perfect for…Read More
If you are facing financial troubles and considering filing for bankruptcy, it is important to understand that you are not alone. There are a variety of reasons people need debt relief, but the following are some of the most common causes of personal bankruptcies: Unemployment. The loss of a job or even a reduction in salary can cause serious financial struggles. If you and your family have cut back on your spending and you are still failing to make ends meet, bankruptcy can help you dig out of the financial hole that you are in. Divorce. We all know that divorce can be costly. For many newly single people, filing for bankruptcy is the most effective way to get back on their financial feet. Medical expenses. A serious health issue or personal injury typically leads to overwhelming medical bills, even when you have health insurance. An extended stay in the hospital or certain medical treatments can be extremely expensive. If you file a Chapter 7…Read More