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Is It Too Late For Bankruptcy?

By Cathy Moran

file bankruptcy`

Worried that it’s too late to file bankruptcy? You’ve put off considering bankruptcy, hoping to tough it out, or hoping for a miracle. But at some point, time runs out:  you’ve been served with a lawsuit;  judgment has been entered against you; or even, a garnishment appears on your paycheck. Is it too late to […]

Filed Under: Considering Bankruptcy, Featured

4 Compelling Reasons To File The Tax Return Even If You Can’t Pay

By Cathy Moran

Should you file the tax return if you can’t pay the tax? You got to the bottom of your tax return and the amount you owe is bigger than your checkbook balance. Nope.  It doesn’t work that way. The IRS does not start harassing nonpayers for money immediately after a return is filed.  Or even […]

Filed Under: Featured, Taxes Tagged With: 2016

Avoid Paying Taxes On That 1099 Form, Legally

By Cathy Moran

IRS form 1099

It’s tax time and the mails are full of IRS form 1099. If you managed a short sale of your property; suffered a foreclosure; filed bankruptcy; or settled your debt for less than you owed, you probably got a 1099. But that’s not the end of the tax story. Receipt of the form does not […]

Filed Under: Featured, Taxes

California Exemptions Increase for 2025

By Cathy Moran

new exemption numbers

New 2025 California exemption amounts becomes effective April 1, 2025. And it’s no joke. The new exemption numbers will protect more value in cash and assets necessary for everyday living. Exemptions define the assets that are safe from creditors in bankruptcy. The California exemptions found in CCP 704 exemptions are also available outside of bankruptcy […]

Filed Under: Featured, Strictly California Tagged With: 2022, california exemptions

Your Tax Refund In The Crosshairs In Debt Collecting Season

By Mike Cardoza

debt collecting season

Who knew that there was a season for debt collecting?  My friend and colleague attorney  Mike Cardoza does.  See what he says. The beginning of the year through about the end of March is the big season for debt collection! Why? Because collectors are pretty sure that you have some money in your pocket – right […]

Filed Under: Debt Collection Rights, Featured Tagged With: 2018, tax refund

Is This Really The Season For Credit Card Debt Forgiveness?

By Cathy Moran

debt forgiveness deception

CBS’s article “How to prepare for credit card debt forgiveness this April” constitutes a serious disservice to its readers. It touts those debt foregivess programs who prey on the desire of most people to pay their debts to the extent they can, offering a supposed path out of debt that’s largely illusory. At bottom, the […]

Filed Under: Featured Tagged With: 2025, debt management, debt relief, debt settlement

Bouncing Back From Bankruptcy

By Cathy Moran

recover from bankruptcy

How long  does it take to recover  from bankruptcy? I started to answer the client’s question before I realized that the question was all backward. Recover FROM bankruptcy?  No…. It should be: recover  THROUGH bankruptcy! Bankruptcy is the tool for recovering from impossible financial situations. The ailment is debt: bills in excess of what you […]

Filed Under: Considering Bankruptcy, Featured

What Happens To Your Business in Bankruptcy

By Cathy Moran

business in bankruptcy

Before you file bankruptcy, you need to know what happens to your business in your bankruptcy. And like so many things, there’s no single, simple answer. Two factors drive the fate of the business. One is whether the business is itself a legal entity, like a corporation or LLC. The second is what chapter you […]

Filed Under: Featured, Small business Tagged With: 2025, business, corporation, llc

Do You Qualify for Chapter 13: The Debt Limits

By Cathy Moran

13 debt limits

Chapter 13 debt limits are one of the eligibility requirements to file for this form of bankruptcy reorganization. The test has two prongs: unsecured debt and secured debt. Come in under each prong and you meet the debt limits test. For cases filed on April 1, 2025 and afterwards, the Chapter 13 debt limits are: […]

Filed Under: Featured Tagged With: 2025, chapter 13, debt limits

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Bankruptcy Basics

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. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

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

How Bankruptcy Works

Bankruptcy Alphabet: F is for First

In my Bankruptcy Alphabet, F is for First meeting of creditors. Lots of rumors exist about the that meeting; it produces unwarranted anxiety that is avoidable if you understand what's up. Let's check it out. The first meeting of creditors, also called the 341 meeting, is often the only time a debtor has to appear … Read more

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