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How Much Will You Have to Pay Back if You File Chapter 13 Bankruptcy?

by Paul Y. Lee | Aug 21, 2018 | Bankruptcy

If you are considering bankruptcy then one of the first decisions you will make will be whether to file Chapter 7 or Chapter 13 bankruptcy. Put simply, Chapter 7 is a liquidation bankruptcy in which many debts are erased and property is sold. Chapter 13, on the other...

Are You Confused by the Bankruptcy Means Testing Process? We Can Help

by Paul Y. Lee | Aug 9, 2018 | Bankruptcy

If you are considering filing bankruptcy in California then you may have to go through what is known as a means test. This process can be very confusing for a person who is not familiar with bankruptcy law. The good news is that The Law Offices of Paul Y. Lee is here...

The 5 Criteria Required to Include Income Tax in Chapter 7 Bankruptcy

by Paul Y. Lee | Jul 20, 2018 | Bankruptcy

If you are considering filing for Chapter 7 bankruptcy and you owe back income taxes then it is likely you will consider if your income tax debt can be included. The answer is more complicated than a simple yes or no. The best way to get an answer about your specific...

If You Are a Veteran Considering Bankruptcy Then Read This First

by Paul Y. Lee | Jul 10, 2018 | Bankruptcy

In a perfect world, our military veterans would come home to well-paying jobs and would never have financial difficulties. Unfortunately, this is not always the case. Due to a variety of unique situations, it is more common than you may think for a military veteran to...

Can You Guess What the 3 Most Commonly Asked Questions About Bankruptcy Are?

by Paul Y. Lee | Jun 22, 2018 | Bankruptcy

Many people believe that they know quite a bit about bankruptcy and some are right. However, many are surprised to learn not only the three most frequently asked questions about bankruptcy, but their answers. Read on to learn more and then reach out to The Law Offices...

5 Reasons You Don’t Want to File Chapter 7 Bankruptcy Without an Attorney

by Paul Y. Lee | Jun 12, 2018 | Bankruptcy

When a person files for bankruptcy and does not work with an attorney it is referred to as “pro se.” It is legal to do so but we highly recommend that you do not do it on your own. We are not offering this advice just because we are in this business but because it is...

Is Bankruptcy an Option for an Unemployed Person in California?

by Paul Y. Lee | May 14, 2018 | Bankruptcy

When a person is already in a lot of debt and they lose their job, it can feel as though they’re drowning and there’s nothing that can be done. When people are in this position, they may wonder if bankruptcy is an option for them. The truth is that it may be an option...

How Much Should You Expect to Pay to Creditors in a Chapter 13 Bankruptcy?

by Paul Y. Lee | May 9, 2018 | Bankruptcy

Put simply, Chapter 13 is a type of bankruptcy that requires those who file it to come up with a reorganization plan that will go on for anywhere between three and five years. Under this plan, the debtor comes up with monthly payments to make on their debts. Some of...

Does California Bankruptcy Wipe Out Child Support?

by Paul Y. Lee | Apr 18, 2018 | Bankruptcy

If you file for bankruptcy in California, you could potentially wipe out a variety of debts or reorganize your debt into a payment plan you’ll be able to handle. That said, there are some types of debts that aren’t eligible to be discharged in a bankruptcy. One...

Learn the Pros and Cons of Debt Consolidation in California

by Paul Y. Lee | Apr 9, 2018 | Bankruptcy

If you’re in a lot of debt then it’s likely you’ve considered your options. These may include both debt consolidation and bankruptcy. Debt consolidation is one option that involves getting all your debts – most especially those on which you’re paying high interest –...

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