Figuring out what your home loan balance is can be harder than a calculus exam. For most people, their mortgage is their biggest debt. And their home is their most important asset. Yet, the people accounting for your payments are increasingly incapable of the very basics of their job. And that makes your job, as […]
It’s Who You Owe In Bankruptcy
WHO to list in your bankruptcy case is a question I hear lots. My response: bankruptcy is all about WHO you owe, not so much about HOW MUCH you owe, when you file. WHO, WHO, WHO. Which is why one of the most important tasks in filing bankruptcy is to write down everyone you owe […]
Asset Protection For Free
Before you sign up with the guy in the ad, explore free asset protection, courtesy of Uncle Sam. Everyone would like to enjoy their money without worry about creditors taking it from you. That describes asset protection. A substantial industry run by expensive professionals will scatter your money between interlocking partnerships and off-shore corporations to keep […]
New California Homestead In Action
The California homestead increase brings the homestead closer into line with the cost of a home in the Golden State. It’s a change for the better. But how will the change impact the balance of homestead law? Time, or further legislation, will tell. The newly enacted version of California Code of Civil Procedure 704.730 replaces […]
Inclusion in Bankruptcy Doesn’t Equal “Discharged”
Convincing clients that all of their debts must be included in bankruptcy is one of the hardest parts of being a bankruptcy lawyer. The struggle often seems Herculean. Sometimes, they will tell me they don’t want to include their car loan in the case because they “need the car”. Sometimes I find the student loan payment […]
Don’t Fall For Your Mortgage Lender’s Insurance
If the mortgage company provides your property insurance, you are not in good hands. No matter how much time it saves you. Your lender is not a good neighbor when it comes to insurance. When your insurance lapses Somehow my client let her homeowners insurance lapse. She wasn’t worried about it, she told me, because […]
Can A Trust Protect You In Bankruptcy?
Can a living trust protect your assets in bankruptcy? Or, anywhere else? According to the lawyer advertising and the self-help books, everyone needs a living trust. The asset protection industry loves irrevocable trusts, another much touted trust. An irrevocable trust gets assets out of your name for all time. Unless of course, they are attacked in […]
How To Pick A Bankruptcy Lawyer
How do you pick a bankruptcy lawyer when you’ve never hired any lawyer and never before considered filing bankruptcy? What do you ask a bankruptcy lawyer to determine if the lawyer is the right one for you? After all, the conversation has to move beyond “what does bankruptcy cost?” Financial troubles are tough and bankruptcy […]
Pay Down Debt Or Save? Which Should Come First
Pay off debt first or start saving now? It’s a debate almost as convoluted as which came first, the chicken or the egg? Experts heatedly take opposite sides. You get rid of debt faster if you put all available cash into paying off balances. BUT You have no reserves for the unexpected if you spend everything that […]
Do I Have To File Bankruptcy Before There’s A Judgment?
Can I discharge a judgment once it’s entered, was the first question the caller asked. Do I have time to file bankruptcy? The caller was sure he had to file bankruptcy before the court entered judgment or he’d be stuck with the judgment forever. Not so. Bankruptcy discharges judgments. And, a judgment in California does not […]
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