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At The Law Offices of Paul Y. Lee we get this question all the time. The short answer is that yes, when you declare bankruptcy what’s known as an “automatic stay” goes into effect. It protects everything you own and puts a stop to collection by creditors. This...
Pre-Filing Planning Bankruptcy can change your life. This is an important decision that should be carefully considered before you move forward. If you’re in a position that you’re facing immediate foreclosure or a repossession, then you should contact The Law Offices...
As you may or may not know, California is a Community Property state. As a result, people often assume that if one spouse files bankruptcy that they both must declare bankruptcy. While this is true in some cases, it’s not true in every case. Situations in which just...
It’s true that bankruptcy laws have changed in the last decade. It’s understandable that the average person hasn’t kept up on these changes but it’s important to know the truth. If you’re considering bankruptcy in California then you’ll want to read these common myths...
A California Homestead Exemption could help protect the equity you’ve earned in your home from creditors who are trying to collect debts. Whether or not you’re eligible, and which of the various homestead options would work best for you, will be discussed in detail...
Learn about the consequences of missing a Chapter 13 payment and how to avoid them. Chapter 13 bankruptcy is a common form of personal bankruptcy that allows you to consolidate your debts into one reduced monthly payment for a period of 3 to 5 years. At the end of...