Northern California Bankruptcy Lawyer

On The Bankruptcy Soapbox

The Soap Box

6 Things You Need To Know About The California Homestead

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California’s homestead exemption is the Super Hero of the exemption world. While other exemptions protect things worth a thousand dollars here and a couple of thousand there, the homestead protects big bucks.  Starting January 1, 2021, the homestead for every homeowner is at least $300,000 and as much as $600,000, depending on countywide home prices. […]

What Litigators Need To Know About Bankruptcy

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Civil litigation often decides who owes what to whom.  Bankruptcy law can impact ongoing litigation and what happens thereafter to those who owe.  And to those to whom money is owed. So it behooves litigators to have a good grasp on how bankruptcy works. If you’re defendant’s counsel, you want to assess your client’s options should […]

When Chapter 20 Bankruptcy Adds Up

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You can look a long time in the Bankruptcy Code without finding Chapter 20. Chapter 7 is there;  so are Chapters 11 and 13.  But no 20. But you find it in bankruptcy courtrooms and in the arsenal of good bankruptcy lawyers. So, what’s up? Chapter 20 is really bankruptcy slang.  It’s a Chapter 7 case […]

Last Minute Tax Break For Distressed Homeowners

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  Days before the end of the tax year, the massive tax bill changed the rules retroactively.  And for once, the change benefited individual taxpayers. The tax bill revived, for tax year 2017, the exclusion from income accorded to phantom income upon foreclosure, short sale, or loan modification. The provision that created an exception protecting […]

IRS Shakedown Happening In Bankruptcy Court

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The latest IRS scam is happening in bankruptcy, out in the open. Now usually when I write about IRS scams, I’m talking about genuine bad guys either pretending to be the IRS to hijack your money or pretending to be you to the IRS, to hijack your money. But nobody is pretending in the trick […]

Warning: Wells Fargo Can Freeze Your Account

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Preparation for filing bankruptcy should include getting your money out of Wells Fargo Bank. Unless, of course, you’re willing to have Wells freeze your money for days or weeks, on its own initiative. Wells says they are “helping” the bankruptcy trustee by denying you access to your money.  Only the bankruptcy trustee didn’t ask for […]

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