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How Guarantors Can Escape Tax On Soured Debt

By Bill Purdy

settlement tax

Tax lawyer Bill Purdy and I shared a client with a small interest in a failed corporation with a huge SBA loan.  Could our client escape the tax consequences should we be able to settle his  liability on a million dollars in unpaid loan.  Was the client looking at a million dollars of cancellation of […]

Filed Under: Small business, Taxes Tagged With: 2019, default, guarantor, tax consequences

How Long Til Foreclosure?

By Cathy Moran

time til foreclosure

Everyone who has made the painful decision to let an unaffordable house go to foreclosure wants to know: how long before they have to get out. While the statutory foreclosure process in California , on paper, takes a little more than 4 months, if the the creditor is perfectly efficient, creditors aren’t perfectly efficient. In […]

Filed Under: Real property & mortgages, Strictly California Tagged With: California, default, foreclosure, sale

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

How To Pay For Bankruptcy When You’re Flat Broke

One of the cosmic ironies of our legal system is that it costs money to file bankruptcy. Bankruptcy gets you out of debt only if you have the money to file. The costs of bankruptcy include the filing fee collected by the court; the required credit counseling; and, if you're smart, an experienced lawyer to make sure … Read more

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