Failure to disclose assets in your bankruptcy disclosures constitutes a crime and this is one of the important points to discuss with your lawyer.
Month: June 2011
What Is a Credit Counseling Class?
A bankruptcy credit counseling class is a one hour course that you take on the internet before you can file bankruptcy in San Diego.
Charging Credit Cards
Charging credit cards before bankruptcy can be a form of fraud making credit card debt nondischargeable so you cannot eliminate them.
TARP Funds Gone
After the Troubled Asset Relief Program (TARP) funds were exhausted, lenders resorted to increasing the rate of filing lawsuits in order to collect bad debts.
Can a Creditor Garnish Wages?
Any one of your creditors can garnish your wages in San Diego to repay a debt, by filing a lawsuit against you and utilizing the judgment collection process.
Qualify for Bankruptcy
To qualify for bankruptcy, there are several points that a lawyer will consider in determining if you can qualify to file bankruptcy in San Diego.
Wild Card Exemption
The wild card exemption is one of the bankruptcy exemptions that you can apply toward protecting any property or asset when you file bankruptcy in San Diego.
Keep Credit Card?
When you file bankruptcy in San Diego, you include all credit cards, unless you have an account with a zero balance, in which case you don’t need to list them.
Bankruptcy TV Commercials
Not running bankruptcy TV commercials is not necessarily a bad thing, but by not running TV bankruptcy ads, a lawyer or law firm is able to lower its costs.
Disclose Assets
You have to disclose all of your assets when you file bankruptcy by listing all of your assets on Schedule A and Schedule B of your bankruptcy schedules.
Lavish Spending on Luxuries
Lavish spending on luxuries before bankruptcy in San Diego, on items such as luxury goods, can result in credit card debt surviving your bankruptcy case.
Fraudulent Transfer Forethought
If you transfer assets before filing bankruptcy in San Diego, the transfer could be deemed fraudulent, and set aside by the bankruptcy trustee or by creditors.
The Perfect Chapter 13 Plan
Preparing the perfect plan that will be approved by the court takes the skill of a bankruptcy lawyer who is a Chapter 13 specialist.