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The New Homestead Exemption Law Will Allow More People to Qualify to File for Bankruptcy Protection
The California homestead exemption (protected equity) is a regulation that safeguards a homeowner’s principal residence from creditors in the case of bankruptcy, a judgment creditor, or death of a spouse.
read moreCalifornia Bankruptcy Exemptions
The Bankruptcy Code allows each individual who files for bankruptcy to keep basic assets that are necessary for the debtor’s “fresh start” after bankruptcy. The property is called the debtor’s “exempt property.”
read moreChapter 13 Eligibility
Under this chapter, debtors propose a repayment plan to make installments...
Chapter 7 Eligibility
Chapter 7 provides for “liquidation” – the sale of a debtor’s nonexempt property and the distribution of the proceeds to creditors.
read moreMeans Test
Generally, any person who is 18 years or older may file bankruptcy, regardless of their citizenship status. Married couples may file jointly or individually.
read moreCredit Cards after Bankruptcy
Even though it may be more difficult to get some loans and credit after bankruptcy, interestingly, you will still likely receive offers for credit cards and be able to obtain other types of loans.
read moreBankruptcy is a Solution, Not a Stigma
People are often amazed at the relief and peace that returns to their lives after filing for bankruptcy. Often they do not realize how much pressure they are under until after it is gone.
read moreDo I Qualify for Bankruptcy?
Generally, any person who is 18 years or older may file bankruptcy, regardless of their citizenship status. Married couples may file jointly or individually.
read moreIs Chapter 7 or Chapter 13 Bankruptcy Better?
It all depends on the specific situation of the debtor.
read moreWho can file for Chapter 13 Bankruptcy?
People who usually qualify for Chapter 13 make enough income to cover their living expenses but not enough to completely pay their debts.
read moreChapter 7 Bankruptcy Exempt Property
The following is a partial list of property exempt from being seized and sold pursuant to the enforcement of a judgment or bankruptcy liquidation:
read moreBankruptcy Overview
Many individuals in the current economic climate are facing crushing debt that feels impossible to handle. Even in the best of times, circumstances beyond our control, such as accidents, illness, or an unexpected business failure can put one in a very difficult...
Stop Foreclosure
For many individuals and families, their home is their greatest asset. At Hallstrom, Klein & Ward LLP, we understand the emotional and financial value of your home, which is why we work diligently to help you explore all available foreclosure prevention options.The...
Bankruptcy Filing Process
We would love to help you understand your options and assist you with moving forward down the road you chose. You will need to gather your financial information for the past two years and itemize your income, expenses, assets, and liabilities.
read moreAuto Financing After Bankruptcy
It is generally not difficult to obtain a car loan after one files bankruptcy. You may actually be a better credit risk after filing bankruptcy than before because you will have fewer bills to pay and your FICA score typically will improve.
read moreHome Loans After Bankruptcy
Individuals are often surprised to discover that they actually are able to obtain a home loan after they have filed for bankruptcy.
read moreCan I File Chapter 7 Bankruptcy?
Individuals must qualify in order to be able to benefit from a Chapter 7 bankruptcy filing. Because a great portion of an individual’s debt is completely eliminated, the law strictly regulates who can qualify to file for a Chapter 7 bankruptcy.
read moreWhen is bankruptcy the right thing to do?
People are often amazed at the relief and peace that returns to their lives after filing for bankruptcy. Often they do not realize how much pressure they are under until after it is gone.
read more