Bankruptcy Topics

The JCH Law Firm Bankruptcy Blog is broken down into various topic categories of interest so that the end-user will quickly find topics of particular interest.

How to Find a Quality Consumer Bankruptcy Attorney

So what should you look for when choosing the right consumer bankruptcy attorney for your case?  Everyone should want to retain a quality consumer bankruptcy attorney for peace of mind.   You want to know your attorney has your best interest at hand and that you will be taken care of personally by the attorney representing you.  You also want a competent attorney who knows bankuptcy law. In...

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Small Business Bankruptcy & Personal Guarantees

Recently, I filed a small business bankruptcy/personal bankruptcy for business members of an LLC who had leased a space in one of the newer commercial developments in the San Gabriel Valley.  In such small business bankruptcy cases where personal guarantees were given to secure loans, leases, or other necessary business expenditures, understand that a personal guarantee holds that...

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Discharging Civil Tax Penalities In Bankruptcy

Oftetimes, persons facing tax issus are dealing with penalties that may or may not be dischargeable in bankruptcy.   The key in such cases is determine if 1) the underlying tax is dischargeable, or 2) if the event that caused the penalty to take place occured more than 3 years prior to the bankruptcy .   The persons facing these type of tax problems only have to meet 1 of the above criteria...

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Want To Know If Your 401(K) Plan protected in Bankruptcy?

When one files bankruptcy, oftentimes the person has an interest in retirement accounts including 401(K) plans.   Such plans are generally ERISA qualified (check  your plan summary), and therefore such plans are generally excluded from Property of the Estate in bankuptcy cases under 541(b)(7) of the bankruptcy code. However, not all retirment plans are the same – 401(K)’s and...

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Shopping For The Lowest California Bankruptcy Attorney Fees – You Get What You Pay For

Oftentimes, prosepctive bankruptcy filers are shopping for the lowest bankruptcy attorney fees.   A good attorney should tell you that their fees depend on the complexity of the case.   Sure, there are attorneys out there who will take your case for a bargain price but are you sure they know what they are doing? For those clients who are price shopping for an attorney, remember you get...

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No, You Can’t Pay Back/Repay Your Mom (or Dad or Business Partner) Before Filiing Bankruptcy – Bankruptcy Transfers

What’s are problematic bankruptcy transfers?  People considering bankruptcy often have assets in excess of the bankruptcy exemption limits.   If those assets are cash or cars, I am often asked if they can just transfer title or write a check to a family member.  In almost all cases, the answer is no – because that is deemed a fraudulent transfer in bankruptcy.  It...

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Individual Chapter 11 Cases and The Absolute Priority Rule

Individual Chapter 11 Cases are unique – these are cases where employed individuals or wage earning spouses file chapter 11 where they do not otherwise qualify for ch7, ch13, or where those chapters of bankruptcy are not in their best interest.  In such cases, the only alternative may be a chapter 11 individual case filing.   These individual chapter 11 cases are more than just...

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Divorce and Bankruptcy: When The Ex-Spouse Files For Chapter 7 Bankruptcy, What to Do?

Bankruptcy and Divorce are often suprisingly related.  Oftentimes, when spouses divorce, one spouse will file bankruptcy – this is typically the spouse who either earns no direct income or qualifies for chapter 7 bankruptcy based on his/her separate income. Typically speaking, domestic support obligations such as alimony and child support are not dischargeable under 11 USC 523(a)(8) of the...

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I Did Not File Bankruptcy But I got Sued by The Chapter 7 Trustee?! Now What?

Recently, I assisted a company in the service sector that was sued by the Chapter 7 Trustee  because of its business dealings with a corporate debtor who had filed a chapter 11 case that was later converted to chapter 7.   The trustee was conducting a due diligence search by filing lawsuits against many of the corporate debtor’s vendors, including the company that I assisted. Naturally,...

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Are You Eligible to File a Chapter 13 California Bankruptcy Case?

Anyone receiving some source of income can file a chapter 13 California bankruptcy case – at least any individual wage earner or individual generating a form of reliable income.  It is important to understand that chapter 13 is a voluntary process – thus anyone is eligible to file a chapter 13, if they otherwise haven’t filed for bankruptcy recently. It’s become clear...

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