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Bankruptcy Alphabet: E is for Exemptions

By Cathy Moran

E stands for exemptions in my Bankruptcy Alphabet. Exemptions describe the possessions you get to keep when you file bankruptcy. E could also stand for Exception, since exemptions are the only place in bankruptcy law where the law is explicitly different from state to state. Exemptions vary The Bankruptcy Code gave the states the right […]

Filed Under: ABC's of bankruptcy, How bankruptcy works

Bankruptcy Alphabet: J For Justify

By Cathy Moran

J stands for Justify in my Bankruptcy Alphabet.  Or rather, it stands for “no need to Justify” your decision to file bankruptcy. Those considering bankruptcy imagine the first meeting of creditors as an inquisition by the trustee. They fear that they will have to justify their choice of bankruptcy and that the trustee could disallow […]

Filed Under: ABC's of bankruptcy, How bankruptcy works

Bankruptcy Alphabet: A Is For Assume

By Cathy Moran

In my bankruptcy alphabet,  “A” is for Assume. People assume all kinds of things about bankruptcy, most of them incorrect. Invariably, each assumption is more horrific than the truth. People assume that they lose everything in bankruptcy. They assume that the court controls their finances. They assume they have to justify filing bankruptcy. They assume […]

Filed Under: ABC's of bankruptcy

Bankruptcy Alphabet: K Is For Keep

By Cathy Moran

The letter K is for the stuff you keep through bankruptcy. The cartoon image of someone going through bankruptcy has them wearing a barrel instead of clothes. It’s a funny image but it’s not real. Most debtors keep far more of their assets than you’d image. Here’s why. Exemption law protects assets The Bankruptcy Code […]

Filed Under: ABC's of bankruptcy, Consumer Rights

Bankruptcy Alphabet: Q is for Questions

By Cathy Moran

Bankruptcy Alphabet Q is for Questions

  The letter Q stands for Questions in my bankruptcy alphabet. Like the storied Light Brigade, “stormed at with shot and shell” , we in bankruptcy are peppered with questions, not cannons. Those considering bankruptcy have the profound questions:will bankruptcy improve my situation? what will I give up to get a bankruptcy discharge? what is life […]

Filed Under: ABC's of bankruptcy, How bankruptcy works

V Is For Value In Bankruptcy Alphabet

By Cathy Moran

Bankrutpcy Alphabet: V is for Value

  The Letter V is for Value in my bankruptcy alphabet. The value of one’s assets drives exemptions and the question of what you get to keep through bankruptcy. The value of  your assets that are subject to liens also determines whether you can void liens on those assets. I’m fond of saying that bankruptcy […]

Filed Under: ABC's of bankruptcy, How bankruptcy works

Bankruptcy Alphabet: B Is For Business

By Cathy Moran

Business is my bankruptcy “B’ word. Business debt of the individual filing bankruptcy is dischargeable just as other personal debt. In Silicon Valley, the very innovation and risk taking that makes the Valley vibrant brings with it the risks of not making it in the marketplace. Bankruptcy can be the “do over” vehicle, freeing manpower and […]

Filed Under: ABC's of bankruptcy, How bankruptcy works

Bankruptcy Alphabet: R is for Retirement

By Cathy Moran

R for Retirement in Bankruptcy Alphabet

In my bankruptcy alphabet, R stands for Retirement. Retirement plans and IRA’s are safe in whatever chapter of bankruptcy you file. Your rights in an employer’s pension plan or a union pension plan are not even part of the property of your bankruptcy estate.  The Supreme Court held almost 20 years ago that ERISA qualified […]

Filed Under: ABC's of bankruptcy, How bankruptcy works

Bankruptcy Alphabet: T is for Tension

By Cathy Moran

T is tension in the bankruptcy system

  In my bankruptcy alphabet, T stands for Tension. I’m not talking so much about the tension the person filing bankruptcy feels, though that is real and not to be discounted. I’m talking about the tension in the law that balances the interests of creditors with the interests of debtors. Bankruptcy law in the US […]

Filed Under: ABC's of bankruptcy, How bankruptcy works

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About The Soapbox

You've arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said "try").

Here, I allow myself to tell stories and express strong opinions on how I think law should work for the consumer and small businesses when it comes to debt.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

The Biggest Lie About Bankruptcy

Read anything about Chapter 7 and you get, "Your possessions are sold in Chapter 7 bankruptcy." That is, flat out, the biggest lie about bankruptcy. It's a liquidation proceeding and your stuff will be sold to pay creditors, the lie goes on. No wonder people are scared off from getting relief from debts … Read more

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