Can a second mortgage collect on any amount not settled after a short sale.

The amount you owe on the 2nd is called a Deficiency. The California anti-deiciency law (Code of Civil Procedure Sec. 580b) may help you out....

We are a one income household and we have 25,000.00 in credit card debt. We rent our house and own our cars. Are we eligible?

If you have a mountain of debt that, realistically speaking, you won’t ever be able to pay off, you should consider a bankruptcy. This a question...

In chapter 7 can we protect a savings account with 20,000 that we need for living expenses until we find jobs?

I'm surprised with the answers that have been posted so far. If you have no equity in any property other than this savings account then the...

If legal separation, can one or both parties file for chapter 7 without the other having to be involved?

Yes it is possible (and quite common) in California for only one spouse to file. In California, even though only one spouse files, both spouses'...

First of all, you do not pick and choose which debts you include in your bankruptcy. They are all included. You have to list them all. But if...

This could be a case which should be pursued with an attorney. Clearly the employee did something wrong if you were burned. That's just not...

Do we need to worry about someone trying to sue us?

It sounds like you owed money to creditors, you sold your business, and you believe that by selling your business you no longer owe money to your...

Is there a way to avoid having chapter 7 liquid retirment accounts?

Retirement accounts are generally exempt. The personal liability left over after the mortgage foreclosures is generally discharged in a Ch 7,

I have about $45,000 in credit card debt and income is 1/3 of what it used to. Is bankruptcy my only option.

It certainly sounds like something you should look into. But the decision needs to be based on more than the 2 facts that you gave (45K in debt...

Whats the best option? Request a hardship dismisal or convert to a chapter 7? I had a pay cut this year.

This question is way too complicated to answer on Avvo. You need to discuss this with your attorney. You may be able to get a hardship...