Silicon Valley is booming; our highways are so full of people getting to work that we can’t get to work. Employment is approaching the level of the dot.com bubble. Property values are outrageous. So who files bankruptcy in this pocket of prosperity? All kinds of people, it turns out. Let’s look at the people who sought […]
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 […]
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 […]
The Secret Bankruptcy Discharge For Community Property
Psst! Let me tell you a secret about bankruptcy law. You can get 3/4 of the benefits of a bankruptcy discharge without ever going near a bankruptcy court if you are a married person in California, or any other community property state. If your spouse files bankruptcy and you don’t join in, you still reap much […]
Danger In Delaying Division of Property In CA Divorce
Delay dividing property in your California divorce and a bankruptcy filing may cost you any shred of control over the division. All it takes is for your ex-spouse to file bankruptcy, and all the assets and the debts of the marriage become entangled in a bankruptcy case. Understand California community property That’s because your assets […]
What Happens To Cash In Bankruptcy?
How much cash can you keep when you file bankruptcy? It’s not as though you won’t have living expenses after you file bankruptcy. You need to know how you’ll manage and what you’ll have to manage with. Funding that fresh start is what exemptions are all about. We are talking here about California because exemptions, […]
When Is Individual Business Owner Liable for California Sales Tax
Even when corporate retailers collect California sales taxes from customers, the individuals running the entity face liability for that debt. That’s because, , if the business doesn’t pay, state law allows collection from the business owners themselves The rules are complicated and the results can be harsh if the business falls behind. So business people […]
When Your Bank Account Is Seized: California Action Plan
Time is short when you get a notice that a creditor has levied your bank account. California has protections that may allow you to recover money that’s been seized. But success in getting your money back depends on prompt action and following the procedures. Bank levy basics A creditor with a judgment is entitled to […]
California’s New Exemptions For Money In The Bank
California has finally created a state law exemption for cash in the bank. Californians filing bankruptcy no longer face loss of all the funds in their bank accounts when they choose California’s generous homestead, thanks to changes in exemption law. Two exemption statutes , new in 2020 , provide protection for cash in the bank […]
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