How Chapter 13 Bankruptcy Will Save Your House

January 26, 2011

How Does a Chapter 13 Bankruptcy Save my House? Chapter 13 Bankruptcy provides individual debtors (including small business operators) with an opportunity to organize and resolve their financial problems. The process encourages the Debtors to adjust the debts, rather than liquidate their assets as in a Chapter 7 case. To a certain degree, a Chapter [...]

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Banks are back in the foreclosure business

October 19, 2010

Bank of America announced October 18, 2010 that it was once again back in the foreclosure business. Having flouted laws in 23 judicial foreclosure states and often wrongfully foreclosing on homes they should not have Bank of America and five other major lending institutions announced a halt to all foreclosures in the country. Two weeks [...]

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Bank of America Freeze on Foreclosures is bull$%$!!!!!

October 15, 2010

Moratorium on Foreclosures: Following the recent announcement by Bank of America, and JP Morgan Chase that those institutions would be placing a halt on foreclosures in all 50 states, consumers have more questions than answers. I will attempt to address the dominant questions here. What happened? There are 23 states that require mortgage lenders to [...]

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Bank of America Foreclosure by Accident

October 8, 2010

As reported this week in the Huffington Post and many other major national Newspapers, Financial Institutions such as Bank of America and JPMorgan Chase have admitted that they may have accidentally foreclosed on American Homeowners. This means that many homeowners who faithfully paid their mortgages were wrongfully foreclosed on. As well, we see that these [...]

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San Diego Bankruptcy: Discharge of Tax Debt in Bankruptcy

July 6, 2010

The broad rule in bankruptcy is that tax debts are not dischargeable in Chapter 7, Chapter 11, or Chapter 13 bankruptcy proceedings and that these debts have the eighth priority for payment of claims. There are, however, a number of exceptions to this broad rule under which certain income tax debts may be dischargeable by [...]

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Bankruptcy in San Diego

July 6, 2010

With unemployment at an all time high, more and more San Diegans are looking to Federal Bankruptcy protection than ever before. Whether because they are overwhelmed with credit card debt, behind on home mortgage payments or living in fear of having their car repossessed, the Federal Bankruptcy Code provides exemptions and protection from creditor harassment, [...]

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Foreclosure and Bankruptcy

June 3, 2010

Avoiding Home Foreclosure through Bankruptcy: In the current economic climate and in the midst of the nation’s largest ever foreclosure crises, more and more people are looking for ways to save their homes. This is a brief summary of the remedies for mortgage delinquency under the Federal Bankruptcy Code. In California, after a homeowner becomes [...]

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Discharge of Second Liens Against Chapter 7 Debtors

May 28, 2010

In a recent Chapter 7 Bankruptcy Filing in San Diego, the McMillan Law Group successfully defended a Debtor against a motion for relief from stay filed by the Debtors alleged Second Lien Holder.  The Debt as to the Debtor has accordingly, been discharged. In the Mortgage Meltdown, many banks transferred ownership of loans to newly [...]

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Can Active Military Members File for Bankruptcy?

May 18, 2010

The short answer to this question is Yes.  Legally speaking, military members (both past and present) are afforded the same rights to file for Bankruptcy as all civilians are.  While military members are expected to adhere to a greater financial responsibility, their legal right to liquidate their debts and protect themselves and their families from [...]

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What happens to my car in Bankruptcy?

May 11, 2010

Car Loans in Chapter 7 Bankruptcy Chapter 7 bankruptcy is designed to help eliminate unsecured debts such as credit cards debt or medical debt, but may provide protection for secured debts such as cars. One important aspect when filing bankruptcy is whether you have a clear title to your car. If you have pledged your [...]

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