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Bankruptcy Discharge For One Spouse Yields Benefits For Non-filing Spouse

By Cathy Moran

bankruptcy protection for non-filing spouse

Spouses don’t have to file bankruptcy together. Often there are strategic reasons for only one spouse in a community property state like California to file. So, where does that leave the non-filing spouse when creditors come calling? Community property in bankruptcy Central to this discussion is the way the Bankruptcy Code treats community property. When […]

Filed Under: How bankruptcy works, Strictly California Tagged With: 2022, community property, discharge, filing alone, non-filing spouse

California drivers score huge bankruptcy win

By Cathy Moran

car after bankruptcy

California law, effective January 1, 2023, will assure those who file bankruptcy that they can keep their car as long as they stay current on payments. The onerous requirement that a debtor give up their discharge as it pertains to the car lender is eliminated. The same bill, SB 1099, increases the exemption for equity […]

Filed Under: Strictly California Tagged With: 2022, california exemptions, reaffirmation, ride-through

The Thousands That Sat In Mortgage Suspense Account

By Cathy Moran

suspense balance

Sharp eyes on the part of the debtor spotted the unapplied suspense balance, and diligence on the part of his attorney, saved one homeowner $27,000. Mortgage payments during Chapter 13 During his Chapter 13 case, the borrower continued to make monthly payments on his mortgage. But the loan servicer for Bank of America dumped payments […]

Filed Under: Real property & mortgages Tagged With: 2022, mortgage servicing, Reg. Z, suspense balance

Do I qualify for bankruptcy in the Bay Area?

By Cathy Moran

San Francisco Bay Area

The higher-than-average wages in the Bay Area don’t disqualify you from bankruptcy, despite rampant misinformation about the bankruptcy means test. The means test, added to bankruptcy law in 2005, was (poorly) designed to keep above-average earners out of bankruptcy. But it hasn’t worked in the Bay Area, largely because of the cost of housing here. […]

Filed Under: Strictly California Tagged With: 2022, Alameda, Bay Area, means test, San Francisco, San Mateo, Santa Clara, Santa Cruz

What Can Bankruptcy Do About Back Taxes

By Cathy Moran

wipe out taxes

Bankruptcy wipes out taxes and leaves you with a clean slate. But somehow, the second biggest myth about bankruptcy is that taxes can’t be discharged. Wrong, wrong, wrong. The limits on discharging taxes in bankruptcy are few: you can’t discharge taxes first due in the last 3 years; taxes for years you haven’t filed a […]

Filed Under: Featured, Taxes Tagged With: 2022

Chapter 13 Eligibility Greatly Expanded And Simplified

By Cathy Moran

chapter 13 debt limits

Congress has just expanded and simplified eligibility for Chapter 13 by enacting new debt limits. This is big news and long-awaited. Upon the president’s signature on S. 3823 on June 21, 2022, Chapter 13 debtors can have up to $2.75M in debts and qualify for the streamlined reorganization offered by Chapter 13. The previous, two-part […]

Filed Under: Chapter 13, Featured Tagged With: 2022, chapter 13

Deal With Your Taxes After Bankruptcy

By Cathy Moran

taxes after bankruptcy

When you’ve still got taxes after bankruptcy, things can get complicated. That’s because some taxes got discharged in bankruptcy, while others may live on. The taxes that live on get an extension on their life span. And liens after Chapter 7 just keep on chugging. So let’s make sense of taxes after bankruptcy. Which taxes […]

Filed Under: Taxes Tagged With: 2022, tax liens, taxes

California Homestead Grows With Inflation: Calculating The Homestead Increase

By Cathy Moran

calculating today's California homestead

Calculating California’s homestead reveals the homestead in 2022 is now capped at $626,400. That’s even more generous than the originally enacted $600,000. And it will change next year. To calculated the current homestead exemption, you need an armful of data (and a bit of math). Because, the new law provided not only for a bigger […]

Filed Under: Strictly California Tagged With: 2022, exemption, homestead

California Exemptions Increase for 2022

By Cathy Moran

new exemption numbers

The triennial adjustment of California exemption amounts becomes effective April 1. 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 CCP 704 exemptions are also available outside of bankruptcy when judgment creditors […]

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

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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

When Can I File Bankruptcy Again

Remember the old high school cheer:  two, four, six, eight, who do we appreciate? Turns out, that's not just a cheer, it's shorthand for the rule on when you can file bankruptcy again. And it points out that when you can file again depends on what kind of bankruptcy you filed last time. Here's how it … Read more

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