Chapter 13 Bankruptcy Plans

Paul Richardson Bankruptcy

A California bankruptcy court recently issued an opinion on bankruptcy laws that cleared the air on how a Chapter 13 plan should work under the Bankruptcy Code. This case actually involved five different debtors who, after successfully declaring bankruptcy and going through the process, tried to discharge their debts early by shortening the length of the payment plan. This process …

Improper Uses of the Bankruptcy Code

Paul Richardson Bankruptcy

The reason why the bankruptcy laws exist as they do is to offer people who are in over their heads a fresh start. This can be a boon that those who have benefited from its use can understand and appreciate. One of the great benefits of the Bankruptcy Code is that protections exist to help those seeking relief from losing …

Federal Appeals Court in California Resolves Important Bankruptcy Case

Paul Richardson Bankruptcy, Debt

  The 9th Circuit Court of Appeals decided an important bankruptcy case recently that should go a long way to helping parents get out from under collection efforts by California juvenile correctional agencies. This case comes after Orange County spent years trying to collect a debt of over $16,000 from a struggling mother of a wayward teen. Fortunately for the …

U.S. Supreme Court Rules on Bankruptcy Case

Paul Richardson Bankruptcy

  This year’s calendar for the Supreme Court contained two important cases on bankruptcy. The first, and probably most well known, was the bankruptcy case involving Puerto Rico. On that issue the court ruled that Puerto Rico could not take advantage of the bankruptcy code as they wished. Of course, this case was not particularly relevant to those involved in …

Court Rules on California’s Homestead and Wildcard Exemptions

Paul Richardson Bankruptcy

The appellate court responsible for reviewing bankruptcy appeals in California recently handed down an opinion that raised some interesting points about homestead and wildcard exemptions. In that case, Ziegler v. Casey, the court looked what a man did with his homestead exemption and whether he would have to pay any of it back. In 2013, a man filed for bankruptcy …

Are College Savings Protected in Bankruptcy?

Paul Richardson Bankruptcy

As with most questions related to bankruptcy, those relating to college savings can have complicated answers. At a glance it is easy to say that, yes, some college savings can be protected in a bankruptcy action, but that answer comes with several caveats, conditions, and in some situations college savings cannot be protected. At the outset, there are some college …

California Bankruptcy Judge Rules on Bitcoin

Paul Richardson Bankruptcy

A bankruptcy court from the Northern District of California recently issued a novel opinion on how Bitcoin applies to bankruptcy proceedings. The question before the court was whether Bitcoin should be treated as a currency or commodity for purposes of the U.S. Bankruptcy Code. It mattered in this case because how much the trustee could recover would change drastically based …

Declaring Bankruptcy Can Improve Your Credit Score

Paul Richardson Bankruptcy

By Aleksandra Todorova January 22, 2007 THE DECISION OF whether to file for bankruptcy protection is not an easy one. Among the numerous concerns, one that is typically front and center is the worry that your credit rating will be so damaged that securing a loan — even at a lousy rate — will be darn near impossible. But here’s …