Blog
Welcome to the JCH Law Firm Southern California Bankruptcy Blog. Here you will find discussions and articles on new and relevant information regarding bankruptcy matters and general legal issues related to bankrutpcy. Topics are organized by category so that you can quickly access those topics of interest that are most important to you. You can find the category box located on the middle right hand side of the blog pages. We cover all issues related to bankruptcy so check back often or feel free to contact us at 800-371-5523 or email us at info@jchfirm.com should you have a particular question that needs to be addressed.
Can I Keep my Car When I File Bankruptcy?
When you file a bankruptcy, you want to keep your basic assets including your car. When you file chapter 7 or 13, you can generally keep your car assuming you are able to utilize the federal or California based exemptions applicable to your case. The specifics of how exemptions work or are applied on a case to case basis can be complex. Thus it is important for you to consult an...
Read MoreIs Your Business An Asset In Your Personal Bankruptcy Case?
Oftentimes, I get calls from individuals asking why their S Corp, LLC, partnership, C Corp, or other business entity must be accounted for as an asset in their personal bankruptcy filing. Well, it’s actually quite simple. The business owner has an interest in the business as a shareholder, member, or partner of the business entity. Sure you might not even be benefitting from direct...
Read MoreHas the Absolute Priority Rule Died For Individual Chapter 11 Cases?
People typically think “LA Dodgers Bankruptcy” or “Lehman Brothers” or “General Motors Bankruptcy” when hearing the term Chapter 11 bankruptcy. But Chapter 11 bankruptcy also applies to people, individuals who are sole proprietors or wage earners with either secured debt or unsecured debt above and beyond what is allowable in a chapter 13 context. For such...
Read MoreHow To Defeat the Creditor’s Motion to Extend Time To Object to Bankruptcy Discharge
Oftentimes in bankrutpcy , creditors pursue the dischargeability of claims against the bankrupt debtor. In such cases, these creditors believe debtors have engaged in a pattern of fraud. In other cases, creditors are unsure whether fraud exists, but the creditor is unwilling to give up its claim via a bankruptcy discharge. Thus, such creditors may ask the court for an extension of...
Read MoreChapter 13 Bankruptcy Attorney – San Gabriel Valley
Chapter 13 bankruptcy is complex. To decide if chapter 13 is right for you, contact our bankruptcy attorney, Jeffrey Hsu, to assist with your chapter 13 San Gabriel Valley bankruptcy needs. Southern California bankruptcy attorney Jeffrey Hsu has helped clients successfully file chapter 13 plans in a variety of circumstances. Clients who initially filed bankruptcy on their own have asked for...
Read MoreSouthern California Bankruptcy and Evictions – How Does this Work?
So you have a property that is subject to a 3 day notive to pay rent or quit in California. What now? Well that depends on whether the unlawful detainer has been filed or not. Where the “UD” has not been filed, the landlord will generally be unable to continue an unlawful detainer action although there may be other requirements of the debtor under 362 of the bankruptcy...
Read MoreHow 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...
Read MoreSmall 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...
Read MoreDischarging 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...
Read MoreWant 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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