Limits on Court Authority to Deny Bankruptcy Exemptions When a debtor files for chapter 7 or chapter 11 bankruptcy, the debtor is entitled to certain bankruptcy exemptions which effect creditor’s rights. The exempt property is shielded from the creditors circling around the debtor’s estate for collection of their outstanding loans. One well-known exemption is the … 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
While many California homeowners have heard of bankruptcy exemptions like the homestead exemption, few understand how this powerful tool can be used to ensure that homeowners stay in their homes, despite creditors, judgments, and even bankruptcies. Below, the experienced California bankruptcy attorneys at Talkov Law provide the tips and tricks to maximize your California homestead … 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
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
How to Recover Sanctions for Violations of the Automatic Stay in Bankruptcy Many bankruptcy practitioners think an automatic stay violation equals sanctions for every debtor. However, those sanctions are only available to “individuals,” not corporations, limited liability companies (LLCs), and others entities. What is the Automatic Stay in Bankruptcy? Upon the filing of a petition … Read More
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