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What Happens After You Stop a Home Foreclosure through Bankruptcy?

by Paul Y. Lee | Sep 19, 2012 | Bankruptcy, Chapter 13, Chapter 7, Foreclosure

I’m often asked what happens to your home after the foreclosure is stopped? There are usually two options: Option One: A Chapter 7 Bankruptcy Buys You Some Time. It’s a Temporary Relief but Sometimes – All You Need. A Chapter 7 “straight bankruptcy,” is...

What is the Median Income and Means Test in Bankruptcy? and Do I qualify Still Qualify for a Chapter 7 Bankruptcy?

by Paul Y. Lee | Aug 13, 2012 | Bankruptcy, Chapter 7

If your family income is more than the “median family income,” you may still be able to file under Chapter 7. The “median family income” within a particular state is the dollar amount at which half of the families in that state make less, and half make more than that...

Creditor Objections to Your Bankruptcy Discharge & Adversary Proceedings

by Paul Y. Lee | Jul 30, 2012 | Bankruptcy

Whether you are a business or individual your bankruptcy case becomes much more difficult if, and when, you have an aggressive creditor. Many creditors accept the fact that when you file bankruptcy, you are doing so for good reasons and not for fraud...

Bankruptcy May Be an Option Even If You Can’t Write Off Every Debt

by Paul Y. Lee | Jul 16, 2012 | Bankruptcy

Bankruptcy may still be an option even if you cannot discharge the debt. The most obvious example are taxes. Taxes are an all too painful reality for most of us. We withhold our taxes from our wages but sometimes it’s not enough. We pay and continue to pay,...

Can I Do a “Cramdown” on Collateral Other than My Home or Vehicle?

by Paul Y. Lee | Jul 6, 2012 | Bankruptcy, Cram Downs

How to Cramdown Secured Debt in a Chapter 13 Bankruptcy of Assets Other than Your Home or Vehicle in Riverside or Orange County. Do you have a secured creditor, i.e. one in which has rights to collateral? Your obligation to pay a secured creditor is secured by the...

Bankruptcy Offers Financial Independence & Fresh Start

by Paul Y. Lee | Jul 4, 2012 | Bankruptcy, Bankruptcy History

If you’re overwhelmed financially this 4th of july, find relief in that our great country offers bankruptcy protection to help families across this great nation rebuild their lives and their financial independence. The historical justification of a bankruptcy and...

Priority Debts, Secured Debts and Debts May Have To Pay and Others You May Choose to Pay

by Paul Y. Lee | Jun 25, 2012 | Bankruptcy, Medical Bills, Priority Debt, Student Loans, Taxes

In bankruptcy, some debts are priority debts, others are secured against your collateral such as a home or car, and some are not dischargeable. Know which debts fall into which category to protect yourself and your assets. Many of my bankruptcy clients in Riverside...

Student Loan Debt Interest Rates May Increase in 2013! Chapter 13 Bankruptcy May Be the Solution

by Paul Y. Lee | Jun 18, 2012 | Bankruptcy, Garnishments, Student Loans

Student loan interest rates across the United States may increase in 2013 from 3.4% to 6.8% thus doubling the government’s revenue and profits from loan repayments to almost $70 billion dollars. Professor Alan White, says that “Congress’ dirty secret is that the...

Number of Mortgage Defaults Up 17.3%

by Paul Y. Lee | Apr 13, 2011 | Bankruptcy

The number of notices of default in California went up 17.3 % from March, an increase to their highest levels since October of last year (source ForeclosureRadar.com). Contact us today if you need help with your Mortgage, foreclosure or bankruptcy options.

Number of Bankruptcies Rose 9% in 2010.

by Paul Y. Lee | Jan 4, 2011 | Bankruptcy

Number of Bankruptcy Filings Rose 9% in 2010

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