Which route better. BK(chptr7 or 13) or debt settlement -CA atty, help!

Another consideration for Chapter 13 would be your monthly vehicle payment and the interest rate. In Chapter 13, it's possible to reduce the...

Excluding wife from California S Corp ownership of company applying for Chapter 7 bankruptcy

The answer to your question would really depend on whether your wife personally guaranteed the debts of the S-Corp. In general, most loans by small...

Debts & Monthly Expenses Exceeds Monthly Income, but advised that Bankruptcy is not an option.

When you say you cannot qualify for bankruptcy, I assume you mean Chapter 7. Chapter 13 is available for high income earners that does not have...

Bankruptcy Chapter 7 or 13?

I agree with my colleague. One additional point I'd like to address is your loan from your family. Those loans are most likely dischargeable...

Is it better to just foreclose on your house or claim bankruptcy? We just have to get out of our mortgage, it is killing us.

It depends on if you live in a recourse or non-recourse state. In California, if you used the money from the mortgage to purchase your home, it's...

Does cross collateralization mean that I have to close my checking account?

Cross collateralization is when the collateral for one loan is also used as collateral for another loan. For instance, you have a car loan with...

Credit card debt and bankruptcy

Bankruptcy will be reported on your credit report for ten years. However, this does not mean you cannot get credit for ten years. How long it takes...

Creditors that hold purchase money security (money you borrowed to purchase a particular piece of property) can demand the property back from the...

Will my 2nd mortgage foreclose on me if i stop paying them but stay current on my 1st mortgage. discharged chapter 7 bk

You are asking some very good questions regarding your mortgage. Let's take them one at a time. 1) Not paying your second mortgage - can the...

Can I reaffirm my mortgage after a chapter 7 discharge, even if the mtg was included in the ch 7?

You must reaffirm a debt while you are in bankruptcy. Once you have received your discharge and the case has closed, you cannot reaffirm. It's also...