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Can Just One Spouse Declare Bankruptcy in California? The Answer May Surprise You

by Paul Y. Lee | Aug 15, 2016 | Bankruptcy

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...

Do You Believe These Common Myths About Bankruptcy in California?

by Paul Y. Lee | Jul 30, 2016 | Bankruptcy

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...

Could the California Homestead Exemption Help You Keep Your Home in a Bankruptcy?

by Paul Y. Lee | Jul 15, 2016 | Bankruptcy

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...

What Happens if You Miss a Payment During Chapter 13 Bankruptcy?

by Paul Y. Lee | Jun 24, 2016 | Bankruptcy

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...

What is a Bankruptcy Adversary Proceeding?

by Paul Y. Lee | Jun 12, 2016 | Bankruptcy

If your bankruptcy is challenged in an adversary proceeding, you will definitely want an experienced bankruptcy attorney on your side. The majority of personal bankruptcy cases are relatively straightforward matters. This is especially true of Chapter 7 bankruptcies,...

Proposed Bill to Make California Bankruptcy Law Fairer for Homeowners

by Paul Y. Lee | May 23, 2016 | Bankruptcy

SB 308 would help put homeowners in a better position following bankruptcy It’s no secret that many Californians have taken a big hit since the Great Recession. But for Baby Boomers, the timing has been especially bad. For them, the Great Recession came just when they...

Does Your Store Credit Card Contract Contain a Nasty Surprise?

by Paul Y. Lee | May 9, 2016 | Bankruptcy

Some contracts contain a clause that could affect how credit card debt gets treated in bankruptcy Have you ever read a credit card contract in full? Most people haven’t, even though we all know that we really should read all the fine print before signing a legal...

3 Questions to Ask Yourself Before Filing for Bankruptcy

by Paul Y. Lee | Apr 20, 2016 | Bankruptcy

Considering bankruptcy? Asking yourself these 3 questions will help you decide how to proceed. Are you struggling with debts that seem to just keep growing and growing no matter how hard you try to pay them off? It may be time to consider bankruptcy. As you make your...

Should You Include Student Loans in Your Bankruptcy Petition?

by Paul Y. Lee | Apr 8, 2016 | Bankruptcy

You have nothing to lose by at least investigating the possibility of getting your student loans discharged in bankruptcy. Student loan debt is a crippling burden for many individuals, including both students and older people who may have co-signed loans for young...

5 Reasons Why Hiring a Bankruptcy Attorney Is a Good Investment

by Paul Y. Lee | Mar 8, 2016 | Bankruptcy

Hiring a bankruptcy attorney can save you from costly mistakes and delays. Technically, it is possible for an individual to file a bankruptcy petition without the help of an attorney. But why would you want to? The small amount you would save by not hiring an attorney...

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