Javed Inam Ellahie's Guides

A Summary of California Laws that took effect on January 1, 2011

Here are some California laws that will bring a cheer to some and tears to othes that took effect on January 1, 2011. No Short Sale Deficiencies: A seller's first trust deed lender cannot obtain a deficiency judgment against the seller after a short sale. Providing written consen...

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How Many times can Bankruptcy be filed? Discharges in Chapter 7 and Chapter 13.

While bankruptcies can technically be "filed" repeatedly, the Question to ask is debts owed can be wiped out or discharged in the subsequent bankruptcy. Generally speaking individuals file under three Chapters of the Bankruptcy Code: Chapter 7, 11 and Chapter 13. 1. Discharging...

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Car Reaffirmation Agreements in Bankruptcy

Chapter 7 of the Bankruptcy Code now allows a car creditor to pick up the car, even if you are current on payments, unless you sign a formal Reaffirmation Agreement. Signing such an agreement means that you waive the protection of the bankruptcy discharge against the car credito...

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Question: Not listed as Creditor but later found out about the Bankruptcy. What to do?

A debtor may, on purpose or in a moment of forgetfulness, forget to list a creditor in the bankruptcy petition and the creditor may never find out about the bankruptcy until it takes steps to collect on the debt owed by the debtor. The filing of a bankruptcy operates as a Stay u...

Wiping out the Second Mortgage on Real Estate Property

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