Talkov Law’s President Scott Talkov was recently quoted by The Real Deal Los Angeles on his legal opinions about conflicts arising from the sale of one of the most expensive homes in history. Known as “The One,” the 105,000 square foot mega-mansion in the hills of Los Angeles entered into bankruptcy court when the debts … Read More
In bankruptcy, creditors can allege that debtors should lose the part of their homestead exemption that is allegedly “attributable to” an “intent to hinder, delay, or defraud a creditor” under 11 U.S.C. § 522(o). This is particularly important given the recent increase in California’s homestead exemption effective January 1, 2021, which is now as high … Read More
Bankruptcy Exemptions in California Filing for Chapter 7 bankruptcy in California is a powerful tool that can relieve debtors of unsecured debts and provide a fresh start. Many people assume that bankruptcy involves creditors taking all their personal property, especially their home and vehicle. However, California bankruptcy exemptions allow debtors to maintain possession of certain … Read More
Objections to a Bankruptcy Trustee Hiring a Lawyer There is a common myth that an objection to a bankruptcy trustee’s application to employ an attorney (counsel) is only proper if the attorney is not “disinterested,” a concept similar to being conflicted out of the case. In other words, many believe that not having an interest … Read More
Continuances of Meetings of Creditors – What is the Bankruptcy Trustee Investigating? Imagine this: you have filed all necessary bankruptcy paperwork and have attended your mandatory 341 meeting of creditors. You honestly answered all questions that the bankruptcy trustee asked you. Then, you get a notice that your bankruptcy trustee is continuing the meeting of … Read More
The Bankruptcy Section 341 Meeting of Creditors [11 U.S.C. 341] The meeting of creditors, also called a Section 341 meeting in reference to Section 341 of the Bankruptcy Code, is a required meeting for bankruptcy filers conducted by the appointed bankruptcy trustee. The purpose of a 341 meeting is for the trustee (and creditors, if they … Read More
Free Information on Bankruptcy Law under the United States Bankruptcy Code and In-Depth Descriptions of the Difference Between Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Bankruptcy!
Dismissing or Converting a Bankruptcy Case How to Dismiss or Convert a Chapter 7, Chapter 11, & Chapter 13 Bankruptcy Filing for bankruptcy is an incredibly powerful tool to help alleviate debt that cannot be paid. When filing for bankruptcy, it is important that paperwork is filed honestly and in a timely manner, local and … Read More
Debtor’s Rights in Bankruptcy to Avoid Judgment Liens Under Section 522(f)(1) of the Bankruptcy Code Debtors are likely subject to bankruptcy due to their inability to satisfy outstanding obligations to unsatisfied creditors. Bankruptcy affords a debtor protections in furtherance of the bankruptcy code‘s central goal to provide a fresh start to good faith debtors subjected … Read More
Preference Actions in Bankruptcy For a simple explanation of what a preference action in bankruptcy is, click here. A preference action is undertaken by the trustee or debtor in possession in either chapter 7 or chapter 11 bankruptcy. In some ways, it is similar to a fraudulent transfer or fraudulent conveyance proceeding in that it … Read More
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