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Wednesday, March 7th, 2012
12:02 am	Chapter 11 Bankruptcy In other words, the personal assets of the company's stockholders are not at risk, aside from what they have invested in the firm. In a partnership, the partners' personal assets are topic to the bankruptcy proceedings. This may possibly also demand the partners to file for bankruptcy on an person basis to guard their assets. The United States trustee is tasked with supervising the bankruptcy administration. The trustee monitors the Chapter 11 proceedings. He or she review also conducts a meeting with the creditors. In the course of this meeting, the trustee and creditors have the alternative of questioning the debtor even though beneath oath. The trustee will also enforce several needs which includes the reporting of monthly income, operating costs, the establishment of new bank accounts, and the paying of taxes and other employee withholdings. These solutions do come with a expense and are paid by the debtor on a quarterly basis. The fee can range among $250 and $10,000 depending on the debtor's disbursement plan. In the event the debtor fails to comply with the repayment strategy and pay the trustee in a timely manner, the trustee has the potential to file for dismissal of the bankruptcy. The most popular types of bankruptcy are Chapter 7 and Chapter 13 on the other hand, these types of bankruptcy are limited by elements like how a lot debt you have. An individual or organization with debts that exceed $336,900.00 unsecured or secured debts of at least $1,010,650.00 will need to file Chapter 11 bankruptcy. Commonly Chapter 11 is filed by organizations because they are the most likely to have such high debts. How Chapter 11 Functions Chapter 11 is considered a reorganization of debts. It works like a Chapter 13 bankruptcy, truly. As an alternative of having debts cleared, a payment strategy is constructed between the filer and the creditors so the debt is repaid. In a Chapter 11, even though, assets are frequently sold or liquidated to repay debts initially. Through a Chapter 11 bankruptcy it is generally the purpose that the company stays open and remains operational during the process. The major idea is the business gets a fresh begin. Then they can resume enterprise and rebuild. Filing a Chapter 11 Bankruptcy Filing a Chapter 11 bankruptcy follows the identical lines as filing any variety of bankruptcy. Papers and documents should be filed with the court creditors get their likelihood to stake a claim for repayment. The court directs the promoting of assets, if any, and controls the corporations finances through the process. A Chapter 11 bankruptcy can take years to total as it is a complicated method. This is why firms are allowed to stay operational during the method. This form of bankruptcy was developed to support avoid job loss and other impacts on employees when a small business ends up in monetary difficulty. Debts are repaid in a structured order. Secured debts are paid very first, followed by other debts. This is due to the fact secured debts are secured with one thing from the business that can be liquidated to payoff the debt. Filing a Chapter 11 bankruptcy is extremely damaging to a organization. Bankruptcy Lawyer San Diego (Comment on this)
Thursday, March 1st, 2012
12:50 am	How to Fool a Breathalyzer Quick grown timbers . ban on offshore oil drilling, it can be believed that like drilling, at least heli-copter flight coast of Carolina is unlikely to occur for quite a while, if ever. Democrats in Congress seem to be vowing to reinstate the ban each time a new Congress requires their seats inside four months. As well as political opposition, ocean protection laws and additionally almost certain getting sued by environmental people in California generate offshore oil drilling some sort of unlikely event. To begin with, there is a standard belief of Californians, including the Governor, that the California coastline is an international treasure, best of all a draw for you to tourists from around the world. Few politicians within the state would dare to jeopardize this treasure. Second, a law enacted by former Governor Pete Wilson previously bans all ocean going oil drilling with California out to help three miles coming from shore. Next, there are 301 miles of countrywide marine sanctuaries across the California coast of which ban oil drilling. Lastly, nearly every coastal county in the State of Florida has enacted ordinances banning brand-new oil pipelines, oil terminals and tanks inside the State. Sixth, environmental groups are already vowing to report lawsuits, and they could be joined by your California Coastal Commission. Whereas California has all-around 30 oil platforms off the coast of Father christmas Barbara, Ventura and Long Beach that were built in your 1950s, no new oil platforms are built in finished 50 years. It's estimated that California has at the very least 10. 5 billion barrels involving oil offshore - in regards to year and a half of the nation's yearly supply. This resembles the estimate of oil inside Alaskan National Animals Refuge (ANWR). Nonetheless if anything, quick grown timbers . oil crisis and also the financial crisis, in light of global warming and takes investment in alternative energies, Californians are getting increasingly environmentally aware. Any politician sprinting on any principle (oil or even not) in line with drilling offshore in the risk to a California scenic coastline, will have trouble being elected. However, you might think this could be the designer's job, never yours, the process will be much more successful in case you and the designer are about the same page about where the method that you view the very last product: a Website that looks as well as it performs. It's possible you'll never have accessibility to the true ROI an attorney receives on it's Website, you can tell with a user's viewpoint, how effective web site is in having a compelling online id. Additionally, before you use the designer, it's crucial to pick a stage person to communicate with the designer, who'll eliminate miscommunications amongst the designer and regulations firm. This person will need to receive feedback from as much people as possible the desired design within the site. The feedback should be complied into ideas that can be expressed to the designer. Once you have hired a designer who you really feel would most correctly execute the firm's and still have a point person in position, you can begin the process of the editing system. That means of the fact that point person will bring the latest versions of the Website back with the law firm meant for feedback. Bankruptcy Attorney (Comment on this)
Monday, February 27th, 2012
10:37 pm	Getting an Auto Loan After Bankruptcy Discharge - I'll Show You How in 60 Seconds Or Less Is it hard to get a bankruptcy discharge Unless the court suspects there is fraud involved in your case, bankruptcy discharge is usually awarded to those who had filed for bankruptcy. Bankruptcy is not an easy process and you should not take it lightly. It is even harder to file bankruptcy because of the new law that has been passed in 2005. Even with all these obstacles, most people who are filing, almost all of them will receive a bankruptcy discharge. Who will be the one to decide if you can have a bankruptcy discharge? For every bankruptcy case, there is a judge who will be presiding over the case. The judge will be one who determines if your case will be discharged or dismissed. Bankruptcy is not conducted like your regular law cases. If you are filing, you do not need to be present in front of the judge. The judge will reexamine all the documents and evidences presented to him/her by the trustee and grant or deny you the bankruptcy discharge. The bankruptcy judge makes the final determination on your bankruptcy case even though the bankruptcy trustee can make suggestion to the judge. Bankruptcy dismissal is a rare case whereas bankruptcy discharge is the most frequent outcome. If the bankruptcy judge believes you are hiding assets from creditors, your case can be dismissed. It is probable that a particular bankruptcy case can be closed without a discharge if you do not complete your credit counseling courses. Is bankruptcy discharge affected by the actions of the creditors? Even though the creditors cannot directly challenge the bankruptcy discharge, they have the option to complain about such discharge during the 341 meeting, or the 30-45 day period after the 341 meeting. The creditors will have to submit to the bankruptcy court supporting evidence to justify their claim that the debt that you owe to them should survive the bankruptcy. Even if the court finds the creditor's claim valid, you can have one debt survive the bankruptcy process while the rest of the debt can be discharged. Non-dischargable debt from one case will survive all following bankruptcy case. This means that once a debt is deemed non discharge, the debtor will become responsible for it until the entire debt is paid off to the creditor. A debtor filed Chapter 7 bankruptcy petition through this Author, seeking to discharge secured and unsecured claims of creditors. A Section 341(a) meeting of creditors (actually an examination under oath of the debtor by the appointed trustee, with creditors welcomed to attend, but not required to do so) was conducted by the bankruptcy trustee, attended by the debtor and this Author. All listed and scheduled creditors must receive at least 30 days' advanced notice of the creditors' meeting, under Bankruptcy Rule 4007(c). After several months, the assigned Bankruptcy Judge issued a discharge order, discharging the debtor from all personal liability for any and all secured and unsecured claims listed in the bankruptcy petition schedules. Secured creditors can foreclose on the security interest or collateral in case of debtor's default. Discharge Injunction Against Personal Liability Of Debtor: The discharge order carries the discharge injunction of 11 U.S.C. ??524(a)(2)-(3), "which operates against the commencement or continuation of an action, the employment of process, or an act, to collect, recover or offset any debt as a personal liability of the debtor, whether or not discharge of such debt is waived." Bankruptcy Attorney (Comment on this)
Thursday, February 23rd, 2012
2:45 am	Off to the Bankruptcy Meeting of Creditors You Must Go . Many times a debtor in the Chapter 7 chapter 7 case asks ones own bankruptcy attorney if they must attend the Getting together with of Creditors. All things considered, can't you while my attorney use me? The answer isn't an. The debtor themself must attend the meeting. There's lots of reasons for the following requirement. As we make an effort to understand this concept, it is good note that bankruptcy is quite different from other areas of the legal requirements. Bankruptcy is a singular area of law. It is not criminal, though criminal charges could possibly be brought against a debtor or collector. It is not really a civil lawsuit that will pits one get together against another. Though needless to say, a debtor can sue a banker for civil type wrongs within the bankruptcy case on their own. Bankruptcy can be not a breakup court. Still it quite often does involve a or both spouses filing because of their own bankruptcy although the divorce case is normally ongoing. Bankruptcy often does involve the persisted operations or final banned of businesses. So that will happen above in intellect, let us featuring next point. The subsequent point is of the fact that bankruptcy debtor ought to testify under promise both in authored form and orally. The written testimony of the debtor is included in the written bankruptcy forms that are filed with this court. There's little doubt that ruling will have an impact no only Anaheim although many cities along the state. Other cities usually are waiting anxiously to work out the results before enacting bans of their own or figuring out that they won't be able to. Naturally, interested citizens are also watching closely with both sides in the argument. Those who confidence the legality in the new pot laws and regulations are hoping that the state court overturns a bans and can make it illegal for cities to produce up their own personal laws concerning those dispensaries. Those who feel the new pot laws possess a damaging effect concerning municipalities are with the hope the bans are upheld and therefore other cities can adopt similar bans. Anaheim in addition to Orange County medical-related marijuana laws have been the topic of controversy for almost provided that the compassion behave of 1996 experienced. The problem, proponents within the act say, is if all cities enact bans upon legal dispensaries, than the laws are as worthless for the paper they are generally written on. Legitimate patients must go underground so that their source, making what's legal transform into something that lies much more in the gray section of the law. People on the other hand of the issue declare that these dispensaries result in an increase in crime and they also believe individual cities needs to have the right to enact their own personal laws, even assuming they are contrary to mention legislation. . Orange County public information is an index of documented information in the county that comes with the people's ct, jail, and unlawful information, death, marital life, and birth facts, hospital data, property data, and passport and additionally travel data. US vital records assist the Orange County in providing this information that may also include people search, history search, and phone number. San Diego Bankruptcy Attorney (Comment on this)
2:31 am	Downtown San Diego Condo Foreclosures and Short Sales Most of the bedrooms have color remote device cable TVs together with king-size beds. You even find whirlpool baths in the majority of master bedrooms. To enroll in these resorts, anyone online can purchase a real-estate involvement in them. One can customize the size of the ownership interest to completely meet the vacation needs, depending on duration in the stay, the size in the accommodations and time. San Diego will certainly thrill each and every relation. The city's specialized charm has a variety of Old Mexico and additionally New California, and there's plenty to view and do. Adequate a timeshare one can more easily afford to check out and do this. . San Diego's downtown housing market is showing clues of improvement, but not the complete recovery at this point. A full recovery needs a few months of improving statistics maybe a decline in foreclosures and progress in the position market. Anyone still need some professional guidance on a Realtor that has found out the market to obtain the best price using a downtown condo. There are bargains available, but you require how to find them. A professional Realtor will assist you to with that. There are lots of signs that a recovery may be happening sooner rather than later: 1. The average sales price for homes with the downtown housing market appears to come to be firming up. The truth is, prices rebounded slightly inside the April month when 7 months of continuous decline. Although the increase from April to April was merely a 4%, it still quit the steady decline that North park has seen in the last few months. Is a seller's market looming fever currently brewing? a pair of. The inventory meant for downtown condos offers fallen substantially and is currently about 3. 5 months. This is frequently a signal that the market could possibly be poised for a complete rebound. 3. The ratio for the actual sales price to the asking price offers increased to 96. 2%. When this market is strong this particular ratio reaches 98% or more, so things can be certainly looking up of this type as well. 5. Another encouraging indication is that the number of days a property is available on the market has dropped out of 153 days to 35. There are various the reason why this happens, but it is also an indication on the improving market. Aiming to pick the bottom within the San Diego's downtown market is like trying to pick the bottom with the stock market before at your residence purchase. It rarely happens unless you're very lucky or employ a crystal ball. The table that follows is as few as a 30 morning snap shot regarding activity. These are properties that contain sold at budget friendly prices ever witnessed in these buildings. Recent sold/closed foreclosures and short gross sales in Downtown Condos within the last 30 days possess included: The latest history of Small Sales and Foreclosures Cityfront #201....... 435, 000..... 4/4/2011.... 675, 000............. 6/27/2007.......... Funds Story #1504....... 560, 000...... 3/25/2011.. 957, 000............ 9/27/2007........... Cash Legend handset #2004....... 800, 000..... 4/7/2011... 1, 574, 000......... 10/10/2007.......... Loan San Diego Bankruptcy Attorney (Comment on this)
Monday, February 20th, 2012
9:59 pm	File Bankruptcy on My Own There are many other exemptions outlined in the California Code of Civil Procedure sections 703 and 704, as well the United States Bankruptcy code. These exemptions allow you to protect many of your personal belongings - homes, cars, jewelry, tools of the trade, personal injury recoveries and more. Please note that this article wasn't intended to give you all the answers, but provide you with a very basic understanding of bankruptcy and how it might be possible for you, if you need it. Many people think that because they own property there is no way they could file for bankruptcy. This article hopefully provides you with enough information to get the ball rolling. If you still think it might be right for you I recommend you contact a competent attorney in your area. To view other articles written by the same author, and additional articles relevant to bankruptcy please read these articles [http://sandiegobkattorney.com/articles.html] Best of luck! -Nothing in this article shall be construed as legal advice. Nor shall anything in this article be construed to create an attorney/client relationship. Nothing in this article shall be considered privileged. Bankruptcy can be very complicated and requires the interpretation of many laws. Laws can only be interpreted by a bar certified attorney. Beware of any paralegal or bankruptcy petition preparer that is not an attorney. It is illegal for them to interpret laws and apply exemptions, thus, there are times the Trustee will have issues with your petition. This article outlines the property you get to keep when you file for Chapter 7 bankruptcy in California. Your nonexempt property becomes part of your bankruptcy estate. Bankruptcy trustee can sell it to pay off your creditors when you file for Chapter 7 bankruptcy. However, you can also purchase this property from your own bankruptcy estate. Your exempt property is the property you get to keep. You must use one of the two California's exemption systems instead. This state does not allow you to claim any federal exemptions. California residency requirement In order to be eligible for California exemptions, you must establish California residency. This rule is to prevent people from gaming the system by moving to states with most favorable exemptions. To establish California residency for Chapter 7 bankruptcy purposes, you must have lived in the state for at least two years. If you've lived in California for more than 91 days but less than two years, you must use exemptions in the state where you lived for the greater part of the 180-day period immediately prior to the two year period before you filed for Chapter 7 bankruptcy. If you've lived in California for less than 91 days, you can either file in the state where you lived immediately before that or wait until you've lived in California for at least 91 days to file for Chapter 7. If these rules make it impossible for you to be eligible for any state's exemptions, you can use federal exemptions. California Chapter 7 exemptions California is one of only eight states that use "bankruptcy-specific" exemptions. That means that those exemptions only apply in your bankruptcy case but you cannot use the exemptions against judgment creditors. Bankruptcy Lawyer San Diego (Comment on this)
Saturday, February 18th, 2012
12:53 am	San Diego Bankruptcy Attorney Reviews The following paragraphs summarize the work of Bankruptcy Lawyer San Diego experts who are completely familiar with all the aspects of San Diego Bankruptcy Attorney. Heed their advice to avoid any San Diego Bankruptcy Attorney surprises. If you don't have accurate details regarding San Diego Bankruptcy Attorney, then you might make a bad choice on the subject. Don't let that happen: keep reading. Fort Worth has a number of attorneys and legal firms to offer you legal advice on bankruptcy cases. These attorneys offer you legal assistance in various bankruptcy litigation matters, including preference cases, fraudulent transfers, and motions to lift stay debtor filings, bankruptcy appeals and representation of creditors in all bankruptcy chapters. One can get extensive information on the services on offer by going through the web sites of leading attorneys or legal firms. You can find out about their locations from the local yellow pages, too. If you happen to be an Internet buff, then you can go through the online local yellow pages of Fort Worth. These attorneys are spread throughout Texas. Your attorney being based in Fort Worth gives you the added advantage of cost-effectiveness, in terms of money saved on travel, if your attorney was from another place. You can also find your attorney in Fort Worth itself. If you are filing a bankruptcy suit, you can always hire the services of an attorney, after you had consultations with your group of well wishers and friends. Getting a referral from an attorney also helps in gauging the experience of an attorney. It makes sense to hire the services of an experienced attorney, even if they charge more, for the simple reason that you stand a better chance of winning your case. Be sure to hire an experienced lawyer. Most bankruptcy attorneys provide clients with individual analyses and customized solutions. Another advantage with experienced lawyers lies in the fact that they are active listeners and give a patient hearing. They are also better placed to understand their clients' business better in order to protect their interests. Most of all these attorneys will help those who seek bankruptcy debt relief. Filing bankruptcy actually does a lot of things. The main thing, though, is to help you and other hard-working people to get rid of unsecured debts. This way, you can keep your bill collectors under control. DISCLAIMER - It should be noted that although bankruptcy is Federal Law there are many distinctions that exist between different states and jurisdictions. Many jurisdictions have their own set of laws that apply to exemptions as well as median income. For this reason this article should only be considered a rough guide, and by no means a definitive answer. If you need a certain answer you should contact a bankruptcy attorney who is knowledgeable and practices in your jurisdiction. ---------------------------------------------------------------------------------------------------------------------------- As a Bankruptcy Attorney I receive calls everyday from people that want to know if bankruptcy is right for them. This is a question that is much more complex than it may seem. Bankruptcy has many variables, as do the clients. Certain clients might benefit from filing for bankruptcy under Chapter 7 of title 11 of the Bankruptcy code, while others might find Chapter 13 to be more beneficial. Unfortunately I won't be able to provide you with all the answers in a simple article right now. (Comment on this)
12:45 am	San Diego Bankruptcy Attorney Reviews Lawyers have gained the reputation of being crooks and liars. This is because many people have been swindled in regard to their legal bills. This isn't to say that all lawyers do this. There are many honest lawyers in the world. However, it is important that you do a legal bill review at the end of your case to make sure that you were billed fairly. Here are a few steps to make sure that you receive an appropriate bill. The first step happens before the trial even begins. It is very important that you read your entire bill agreement. Almost all disputes occur because the client signed something that they didn't understand. You need to take your time to read the agreement. In addition to that, don't forget to ask if other attorneys or employees at the firm will be spending time on your case and at what rate, because you will be billed for their time too. A lawyer may ask you to sign a promissory note as security for the fees. Also, a bankruptcy attorney will require payment in advance, since that fee, if not paid before filing bankruptcy is dischargeable by you in the bankruptcy. So, the attorney wants to make sure he or she gets their money before you're no longer required to pay your debts. In addition, a lawyer may request a retainer fee as a down payment. This means that the legal fees will be deducted from the retainer, at the agreed upon hourly rate, until the retainer is used up. Then, the lawyer will either ask you to replace the retainer or bill you for any additional time spent on your case. In any case, always ask for a receipt for fees you have paid. In case of a dispute, the receipt is your evidence. Standard (Flat) (Fixed) Fee - Regardless of how they refer to it, this is a set fee used for routine legal matters, such as drawing up a will, purchase or a sale of a property, title examination, handling an uncontested divorce, and such. It basically means that regardless of how much time the lawyer spends, this fee is used when the lawyer is performing a specific service with a predictable time commitment. When you and your lawyer agree to a fixed fee, make sure that you know what it does and does not include. Also, you need to ask your lawyer (and get it in writing, i.e. e-mail, letter, memo) whether the fee could change if your case becomes unexpectedly complex. Retainer fee, contingency fee and statutory fee - covered in Part 3 of this article. Disclaimer: The author and publisher of this article have done their best to give you useful, informative and accurate information. This article does not represent nor replace the legal advice you need to get from a lawyer, or other professional if the content of the article involves an issue you are facing. Laws vary from state-to-state and change from time-to-time. Always consult with a qualified professional before making any decisions about the issues described in this article. Thank you. Hopefully the information presented so far has been applicable. You might also want to consider the following: Bankruptcy Lawyer San Diego (Comment on this)
Thursday, February 16th, 2012
7:35 pm	Common Mistakes Associated With Bankruptcy Attorney Fees This will make it easier for you to pay for your lawyer fees. In addition, your lawyer may work out some sort of payment plan to make things easier for you. Perhaps a more important consideration is how to lower your bankruptcy attorney fees. We've already spoken above about how declaring bankruptcy can make it easier for you to pay your legal bill. But what about actually lowering the cost of that legal bill? One of the simplest things you can do is to prepare as much as possible before your initial legal consultation. Before you ever walk into a bankruptcy law office, you need to do your homework about bankruptcy and your current situation. Reading articles like these, as well as a good book on the subject, can help you understand many things before you ever step foot into a bankruptcy law practice. You can better understand who is eligible, the different types of bankruptcy, and what the ramifications are for filing. You should also get all of your paperwork in order. That includes your federal tax returns, all of your credit card statements, and everything else that proves your current income and expenses. Taking the time to do this will make you a better informed client, and it will also reduce the amount of work that the lawyer has to accomplish. Less work means a smaller bill for you. Who knows, you may even decide with your own research that bankruptcy is not the best alternative for you. Are you worried about finding a way to pay your bankruptcy attorney fee? Well, it's certainly understandable since you are already struggling financially if you're thinking about declaring bankruptcy. Adding on any more burdens to the load such as a bankruptcy attorney fee could certainly cause a lot of problems in your financial life. However, you should not dismiss the possibility of bankruptcy or the importance of hiring a good lawyer without thinking things through. If you're thinking to yourself that you can't file for bankruptcy because you would not be able to afford legal help, you shouldn't think that way. Remember that you're filing for bankruptcy to get relief from your current debt load, so if your case is successful you will be in a much better position to handle your current financial obligations. This will make paying for your lawyer much more feasible. Now we're not saying that bankruptcy is right for everyone, and you should discuss this carefully with a bankruptcy lawyer and probably a financial advisor as well. People should also be aware that any complications in the case will raise the attorney fees rather quickly. People could alternatively choose form preparation services instead of legal representation. A few debtors have a preference to do this and only be in attendance through hearings alone. Other alternatives include using a number of software programs that are now available. Pricewise, these programs cost about the same as form preparation services. If the debtor wants to avoid that cost, they can download the form online. There are various website that provide this service. People can later fill the details on the forms with some form of assistance. Preparation is vital to successfully filing under both Chapter 7 and Chapter 13. Bankruptcy Lawyer San Diego, Bankruptcy Attorney (Comment on this)
Tuesday, February 14th, 2012
10:44 pm	What Does an Estate Planning Attorney Do? Your estate will be subject to probate whether or not you have a Will and in most cases, a Will reduces the cost by eliminating the requirements of a bond. When you meet with your attorney to draft a Will, you may also learn ideas to reduce death taxes and other expenses. Don't pinch pennies now to the detriment of your Partner and beneficiaries. We have attempted to briefly explain in this article some of the issues, techniques, and decisions involved in Wills, Estate Planning, and Administration of an Estate. Because the matters covered are complicated and the Federal and New Jersey laws frequently change, this article can only outline some of the many legal issues you should consider. The cost of a Will depends on the size and the complexity of the estate and the plans of the person who makes the Will. A properly drawn Simple Will without Trust costs approximately $300.00 to $600.00. It is one of the most important documents you will ever sign, and may be one of the best bargains you will ever have. Also, ascertain if your Will is "self-proving", which would dispense with having to find the Will's witnesses after death. WHAT IS A WILL? "A Will is a Legal written document which, after your death, directs how your individually owned property will be distributed, who will be in charge of your property until it is distributed. You should remember that the term "property" under the law includes "real estate as well as other possessions and rights to receive money or items of value." Everyone who has at least $3,000 in assets should have a Will. You do not have to be wealthy, married, or near death to do some serious thinking about your Will. 3. Names and Addresses of decedent's next of kin and will beneficiaries 4. Minimum of $100.00 for Surrogate fees A state inheritance tax return must be filed and the tax paid on the transfer of real or personal property within eight months after death. OTHER ITEMS OF CONCERN TO BE PREPARED BY YOUR ATTORNEY -Power of Attorney- to allow your partner or another person to administer your assets during your lifetime, either upon disability or now -Living Wills/ Advance Directive- to state your wishes concerning medical care in the event of your serious illness and to allow your partner or another person to make medical decisions. In the absence of a Power of Attorney or other legal arrangement to distribute property if you become disabled, your partner cannot pay your bills or access your assets. The result can be lengthy delays. Reasons to have a Power of Attorney What are these powers of attorney? A Power of Attorney is a written document in which a competent adult individual (the "principal") appoints another competent adult individual (the "attorney-in-fact") to act on the principal's behalf. In general, an attorney-in-fact may perform any legal function or task which the principal has a legal right to do for him/herself. You may wish to sign a Power of Attorney giving your partner the power to handle your affairs if you become ill or disabled. The term "durable" in reference to a power of attorney means that the power remains in force for the lifetime of the principal, even if he/she becomes mentally incapacitated. San Diego Bankruptcy Attorney, Bankruptcy Attorney (Comment on this)
10:36 pm	Understanding Bank of America's Foreclosure Moratorium So you need to be aware of what options you need to take when you encounter this sort of problem or how to deal with it. Foreclosure on investment property usually happens when a person who invested in a piece of real estate cannot handle or carry on with the payment of the property's mortgage. When a property is rented out or leased and the tenants are not paying the rent or if the property is not gaining income for the investor, it will force them to foreclose the property. If the money used for investment came from financial institutions such as bank and credit unions or if you borrowed from a lending company, then you are obliged to pay incessantly. However, there are situation that keeps the investor from paying on time, thus, pushing them to declare foreclosure on investment property. This is an option that many people avoid because not only will make your credit score go down but it will also ruin your reputation in the market and you will not be allowed to loan for seven years. And if you are an investor, unless you have enough funds, you will really need these loans to help you build your business. Bad credit score will cause a negative impact for your other assets and investments, so you have to keep this in mind before you make any final decision. So you have to at least do everything you can and must not allow foreclosure on investment property to happen at any cost. Although, some people see foreclosure as their only way out to avoid further payment on the property, but you should also take into account the drawbacks if you will go for this instead of finding other solutions. If the property is sold at a lower price then the previous owner will be liable for the difference and pay taxes for it. You see that foreclosure on investment is not an ideal solution for everyone since it has more disadvantages. So why not look for other way to deal with this? Some investor will consider short sale and negotiate with the bank or lender about the property's remaining balance so it can be sold to a buyer. Lapses in payment will result to a negative impact on your credit score but it is better than having a foreclosure on your record. You will still be given the chance to process your loans within eighteen to twenty four months compared to seven years if you will choose foreclosure on investment property. You can also ask for the help of a real estate attorney to handle any of your current issues. You will also be assured that you are doing the right thing or that it goes well on your end if you always have your attorney present in all of your negotiation. However, nothing is free in this world so the downside is that hiring one will be an additional burden to you if you don't have extra fund to pay them. Foreclosure on investment property can happen to anyone who is not careful with their real estate dealings. Some causes are also due to a sudden and unfortunate shift in economic events. You need to gain as much knowledge on your side to help you deal with any problem that you may encounter on your property in the future. Bankruptcy Lawyer San Diego, Bankruptcy Attorney (Comment on this)
10:27 pm	Actionable Claims - Part 1 You have to have one that specializes in drinking and driving offenses or you might find yourself paying for a lawyer that literally does very little for you if anything useful at all. You can find the right attorney for you by asking friends and other people you might know in the area. Somebody has been through the process of hiring a DUI lawyer and can help recommend the right person for the job for you. You might be surprised as to who it is that knows, but somebody you know has been through this before. The tenant must answer your summons and complaint by the given deadline, which must be at least seven days from their receipt of the summons and complaint. THE THIRD STEP - THE HEARING The next step is an event called the Show Cause hearing. Although a date for Show Cause need not be served with the summons and complaint, it is generally advisable to serve all the documents at the same time. If you do not provide the tenant with a date for a Show Cause hearing and the tenant formally or informally responds to your complaint, then you must initiate a Show Cause hearing to continue the eviction process, which delays the process. Better to provide the Show Cause hearing date up-front. At the Show Cause hearing, the judge will review evidence, including testimony, from both sides. Here is where your records, documents and other admissible evidence, if properly recorded and documented, will prove to be invaluable. You must put emotion aside and you must provide a compelling, rational and factually based story to the judge. The Show Cause hearing is short though, typically fifteen minutes or less, so you have to be concise, you have to be organized, and you have to make your case in a compelling fashion. Do not engage in theatrics. The landlord or the property manager must attend the Show Cause hearing. There are three possible outcomes from the Show Cause hearing. The first outcome is dismissal of the case because the court finds that you are not entitled to possession. This usually occurs because you, the landlord, have made some sort of procedural error. The second is that the case gets set for trial because the issues are so complicated that they cannot be resolved at a fifteen minute hearing. You want to try to avoid this second scenario, particularly if you a first-time property owner. The costs of a full trial can be overwhelming for a small property owner and the time, not to mention the emotional toll, can be significant. As unpalatable as this sounds, it may make business sense to pay the tenant to move out. For instance, you can offer to pay the tenant's moving expenses if they move out within seven days (or some reasonable period of time). The third outcome (and the preferred outcome) is that the court rules in your favor and an eviction order is issued along with the judgment. THE FOURTH STEP - THE SHERIFF Once you have the writ of restitution, which is the document issued by the court, the sheriff will serve the writ on the tenant. The tenant will then have three business days to vacate. San Diego Bankruptcy Attorney, Bankruptcy Lawyer San Diego (Comment on this)
Sunday, February 12th, 2012
12:23 am	Bankruptcy Forms (That's where the lender pays to have a sheriff's deputy intercept incoming money and keep it for the lender. Now that the judgment is entered, is it too late for Tom to get help from bankruptcy? No. Bankruptcy neutralizes the judgment, just as effectively as if the bankruptcy had been filed prior to Bank's lawsuit being filed in the first place. Tom's attorney must take special care to get the right paperwork to the right people at the court where the lawsuit was filed, but is he does, the judgment essentially disappears. It's no longer even reported on the credit report. Let's pretend for a minute that our friend Tom is somewhat less than the honorable. He's been convicted of fraud (a crime) and is ordered to pay restitution? Bankruptcy won't help. If he dodged a bullet in the criminal case but the victim sues him successfully and the jury (or judge) finds fraud? Same problem. And his ex doesn't have to worry about her judgment for support arrears being disturbed, because that's not dischargeable. If the Dept. of Education catches up with Tom after a lifetime of having eluded his student loans, they can actually garnish his Social Security benefits to the tune of 15%. Make sure you tell your attorney about any lawsuits and judgments you know about. The best time to catch them is BEFORE your bankruptcy is filed. Finances are such a touchy subject matter in families. Parents want their children to watch their expenses and save for the future. Adult children hope their parents have practiced the ideals they have preached. So when seniors face the probability of filing bankruptcy, they may be hesitant to discuss the matter with their children until they fall into dire financial circumstances. Typically, children put their parents' physical and mental condition first and financial concerns second. Arrangements for monetary assistance are easier to fix than a deteriorating medical condition or a diagnosis of Alzheimer's. The old clich?? of "if you have your health, you have everything," is never more true in your senior years. Before deciding on the ultimate course of filing bankruptcy, seniors may want to call a family meeting and present the situation. Collectively, assistance may be offered or alternatives explored and the need for bankruptcy can disappear. Everyone needs the complete picture; this is not the time to hold back any detail. The more information everyone has, the better the outcome. Presenting the entire financial picture and the circumstances that led up to this point may shed light on unwise investments or illegal activity by someone preying upon seniors. Keeping in mind that 401(k)s and other retirement accounts are completely exempt from creditors in most cases, can offer a glimmer of hope for the future. With rising costs of credit cards and their interest rates, it is most often this debt that leads to bankruptcy talk. Because this debt is unsecured, a Chapter 7 bankruptcy may be a good option for eliminating stress, panic and upset; in many cases the debt can simply disappear. In Chapter 13, the bankruptcy court manages the payments to creditors for secured debt such as land and cars. Sitting down and admitting that financial help is needed is never a comfortable conversation for anyone, at any age, but the sooner the conversation is had, the sooner it is possible to move on and rebuild. Bankruptcy Attorney, Bankruptcy Lawyer San Diego (Comment on this)
12:16 am	San Diego Estate Planning Attorney Although the recession is over, it has left a trail of misery in its wake and many people are still struggling with their mortgage payments. Most of these people are victims of irresponsible lending policies. It is because of the increased availability of credit that the prices of many properties had soared drastically in the last few years. People who had bought houses in San Diego during this period have been very badly hit because they now realize that their properties are no longer worth as much as they were worth before the economic downturn. However, their mortgage payments have not decreased. More often than not, these people have realized that that they will never be able to repay the loan that they had taken. However, they continue to put up with hardships to keep up with the minimum payments to prevent foreclosures of their homes. They cut down on household expenses and hope that some day they will manage to clear their loan and live a worry-free life. But the conditions of the market are such that things can only get worse of them because the property prices are not going to be as high as they were. This means that the present market value of the properties of these people is lower that what they owe. In such a situation, the best option is often filing for bankruptcy. If you get in touch with a San Diego bankruptcy law firm, they will be able to help you get out of this terrible situation. If you are finding it difficult pay up the loan that you may have taken to buy a house, you should consult the experts of one of the better San Diego bankruptcy law firms because they have made life easier for many a person in the situation that you find yourself in. If you think that all lawyers are crooks, you probably do not know of the San Diego bankruptcy law firms that have helped people get rid of their debts once and for all. Bankruptcy may sound like a very drastic step, but if you calmly think about it, it is actually a boon for people who are genuinely incapable of paying back the loans that they took. The short answer is yes! Don't try to file a bankruptcy without one! Your attorney will know the law first and foremost. The attorney will know if you have too much property or income for instance as he will do a means test calculation for you as is required by the law. I recently came in on a bankruptcy case where a bankruptcy filer should never have filed a case because this person had non-exempt income or assets. To file for Chapter 7 you have to keep these things in mind: * You need to make a list of your assets and liabilities. You also need to keep a record of your creditors and their claims. * You need to maintain a record of liabilities and income. This list will include your monthly expenses and also the source of income and its frequency. * A list of executory contracts and the leases that have not expired till date. For example, it can be a lease on your apartment. Bankruptcy Attorney, Bankruptcy Lawyer San Diego (Comment on this)
12:12 am	Bankruptcy Information You will find that your accident attorney does not have the freedom to enhance the details of the case in your favor. Essentially, he must ensure that the content of your claim is factually accurate in order to ensure that he complies with the code of conduct that governs him. If he violates this code, then he may be subject to disciplinary action on the basis that he has contravened the professional or ethical regulations of the state bar. Therefore always ensure that the information provided by you is as accurate as it can be and allow your accident attorney to craft your claim properly and effectively. Divorces are never easy. They are emotionally and mentally draining. A legal separation can have a lot of traumatic consequences, especially when both parents want custody over the children. If this is the case, and you live near the Pacific Ocean in Southern California, you should immediately contact a San Diego divorce lawyer. You need a legal representative to fight for your right and the wellbeing of your kids. A San Diego divorce lawyer knows all about family law. This includes spousal support, child support, visitation rights, and child custody during a divorce, or afterwards. It is not the first time that a parent changes his or her mind after the divorce has been finalized. Either their situation has changed or that of the other parent. Changes can occur due to illness, job loss, a new life partner, remarriage, job relocation, etc. Altered circumstances can affect the wellbeing of the children. It is very difficult to file petitions with the court without proper knowledge of the legal system. Sure, you can defend your case, but if your partner is trying to take the children away from you, the chances of you winning your case without a San Diego divorce lawyer at your side are slim to none. An attorney is used to addressing the judge, and knows what is important during a custody battle. The passenger slips and falls down a steep ladder into the galley. The Limitation defense was defeated by proving the non-skid on the ladder had been worn smooth for months, if not years, before the passenger slipped on the ladder and was seriously injured. There was plenty of time for the owner to have learned of the dangerous condition before the injury incident. Thus, there was privity (i.e.,knowledge). Catalina Island, California - Charter Sailing Boat Sinks Due to Electrical Problem An electrical fire starts on a 54 foot Chartered sailing vessel while cruising off Catalina Island. The Captain and 11 passengers abandoned ship. Two of the passengers drown. Litigation discovery reveals months before the sinking, a mechanic had recommended fixing the electrical problem. The owner had try to conceal both the mechanic and the previous electrical problem. The insurance company settled soon after the concealment was uncovered. Colorado River - Yuma - 16 Year Old PWC Operator Hits Teen on Inner Tube A 16 year old is operating a personal water craft on the Colorado River, north of Yuma. The PWC clips a teenage girl floating on an inner tube. The teenage girl is seriously injured. The owner of the Jet ski did not require the 16 year old to read the manual nor the PWC's riding instructions for novices. Bankruptcy Attorney, Bankruptcy Attorney (Comment on this)
Friday, February 10th, 2012
2:03 am	Attorneys Estate Planning Non-profit must be formed for a charitable, educational, religious, literary and similar public interest purposes. A non-profit can be registered on two levels: state and federal. When you hear "501(c)(3)," that refers to the section of the federal tax code and, thus, a federal level of registration. A federal level of registration is what you need in order to be eligible for federal tax exemptions and to attract donors by being able to tell them that their contributions will be tax deductible. State level registration is a relatively quick, straightforward process, and usually only requires a simple filing of the articles of incorporation, stating the purpose of the organization, with the Secretary of State. Federal 501(c)(3) level registration requires filing a more complicated Form 1023, and takes longer to approve. In order to be eligible for federal tax exemptions, a nonprofit must first be registered at the state level. In California, most charities and non-profits must apply for and receive a letter of acknowledgement in order to receive a tax-exempt status. Small non-profits with ordinary gross receipts of less than $25,000 must electronically file an annual informational notice with the Secretary of State. Pros: - Tax exemptions. - Donations to 501(c)(3) are tax-deductible. - Eligibility for grants. - Directors are shielded from personal liability. Cons: - May not be eligible to engage in certain business activities. - Ongoing filing and reporting requirements. Anybody that works for you is either your employee or an independent contractor. Tax consequences of classifying somebody as an employee are expensive which is exactly why both IRS and the California Employment Development Department (EDD, the agency that collects employment taxes) go to great lengths to ensure that your workers are classified properly. Both IRS and EDD publish brochures with examples that help you with the classification. Employee Some general guidelines for employee classification are: - uses your tools and equipment; - follows your directions and instructions on what is th eproper procedure to complete the job; - follows the schedule that you provide; - works on your premises; - works only for you and no other business; - receives benefits such as paid vacation, holiday pay or health insurance. When you hire a California employee, your business must comply with certain requirements: - Purchase workers' compensation insurance; - Notify the EDD of your hires within 20 days of the employee's first day on the job; - Withhold federal income and FICA taxes (Social Security, Medicare, etc.). report withholdings to the IRS and the employee on a W-2 form; - Withhold California state income taxes; - Pay (match) the employer's share of each employee's Social Security and Medicare taxes; - Comply with federal (OSHA) and California's (DOSH) job safety regulations; - Withhold employee's contriibutions to the State Disability Insurance (SDI); - Pay federal and California's unemployment insurance taxes. This list looks overwhelming, and it is. Nevertheless, your business model must be able to afford compliance with the relevant employment laws in order to avoid costly penalties and lawsuits. In the alternative, think whether it is possible to accomplish the tasks you need done with independent contractors only. A qualified business lawyer will be able to make sure that you are in compliance with all the relevant laws and regulations. Bankruptcy Lawyer San Diego, Bankruptcy Lawyer San Diego (Comment on this)
1:53 am	Criminal Attorney San Diego This is where the trouble begins, if the new spouse makes a generous amount of money to contribute to the household, the individual might no longer qualify to file Chapter 7. Many times, in this situation if the debtor had only gone and got advice from a bankruptcy attorney prior to getting married they would've found out that they should have filed for bankruptcy prior to getting married. In Chapter 7 bankruptcy a debtor may have an opportunity to redeem some personal property. Redemption is not reaffirmation; but is similar in that the debtor gets to keep secured property in bankruptcy. Let's take a closer look at redemption in Chapter 7 bankruptcy: What Is Redemption? Redemption is when a bankruptcy debtor pays off the secured portion of a loan so that they can not only reduce their monthly debt payments but they can also reduce the loan balance and keep the property. When a debtor redeems personal property in bankruptcy, they are NOT reaffirming the debt. They are only paying off the secured portion of the debt. For example, if a bankruptcy debtor wanted to redeem a vehicle valued at $10,000 and it had a loan of $18,000 on it, they could use redemption. Using redemption, the bankruptcy debtor could pay the lender $10,000 cash and keep the property. Because the $18,000 loan is only secured up to $10,000, the remaining $8,000 balance would be treated as unsecured debt and might be discharged depending on the details of the bankruptcy case. What Type Of Property Can Be Redeemed? Most individual cases filed in the United States are Chapter 7 sell out or liquidation cases, which is the simplest,most common code of bankruptcy. In each Chapter 7 case, a trustee is designated to gather all nonexempt capital, sell them, and allocate the proceeds according to the precedence scheme prescribed by the code. The trustee is a fiduciary for all creditors and is entrusted with maximizing value for estate creditors. Part of the trustees fiduciary duty is fulfilled by rooting around for free assets to apportion. Chapter 7 Cases: Chapter 7 is applicable to individuals as well as legal entities like corporations and limited liability companies (LLCs). A corporation or LLC filing a chapter 7 case is the simplest task of all. There typically are no issues. The corporation is not entitled to impunity because it will be dissolved or remain in limbo as an empty vessel. For this reason, it does not get liberation. Thus, the two most litigated issues in an individual Chapter 7 case, exemptions and discharge ability, are not at issue in a corporate Chapter 7 case. Chapter 7-Liquidation: Individuals-private citizens- file the vast majority of Chapter 7 bankruptcy cases in the United States. In these cases, the debtor turns over all nonexempt assets to a bankruptcy trustee who sells them and disperse them to creditors according to the prerogative scheme. Although these cases are sell outs or liquidation cases, typically the debtor has no nonexempt assets. Therefore there is no sell out or liquidation. Thus, despite the sell out or liquidation classification, in such a capacity nothing is sold and the debtor loses no property. That's why these are often called no asset cases. The Chapter 7 Advantage: San Diego Bankruptcy Attorney, San Diego Bankruptcy Attorney (Comment on this)
1:45 am	San Diego Debt Relief Under Chapter 13, a person who has a steady income source can have the option to repay debts over an extended period of time. Bankruptcy attorneys are experts in handling litigation and any tasks involved in the cases under Chapter 13. The paperwork involved in the case will also be handled by the attorney. Additionally, all the documents of a person's income and debts should be gathered. These tasks are tedious and they will be expertly taken care of by a bankruptcy attorney. It is always recommended to get an experienced lawyer if a person wants to find relief from unsecured debts and loans in order to get out of debt and get a fresh start. A bankruptcy attorney would be competent in handling all types of bankruptcy law related legal proceedings. There are many renowned and experienced bankruptcy attorneys whom people can come up to for consultation and representation. Businesses are all about taking risks. Therefore, every business needs a business bankruptcy attorney. However, there are certain things that you should consider while employing one. You have to go for one that is specialized in that field. Ensure that the attorney you hire is certified to do that job. They must be able to understand the formalities of the field. They also should be qualified and specialized in not only consumer bankruptcy, but business bankruptcy too. This is a very important factor especially if your business is a partnership or a corporation. They should be able to understand the policies of the business. It is advisable for one that has experience in that sector because he is in a better position to help you. It will make your work easier when you want to file a bankruptcy suit. When hiring a business bankruptcy attorney, you should get some referrals first. Recommendations from other companies who have gone through the same problems know the best attorneys. However, you should be careful in this. You can also consult your local bar association. However, bear in mind that they only give you a list of names so you have to consult further. Ensure that you go for the one with good credentials. You can also consult directories as they have professional biographies of different lawyers. Another source of information is the people in your local network. Such people may include your accountant or your personal attorney. Such people are in a better position to know the best attorney for you. Your friends may be helpful too. They understand your situation better. Therefore, they will recommend the best. When interviewing attorneys, be sure to interview more than one. This gives you an opportunity to compare ideas. The more you interview them, the more you get new ideas and it becomes easier to settle for the best. You should also check to ensure that the lawyer you choose for interviews have good standing in the state. You should also go for one that you feel comfortable with. Remember that you are going to be working with him therefore, a good relationship is essential. He is going to be your defender so you ought to be very comfortable with him. Go for an attorney that will be able to understand your situation. This way, you will find it easier to work together. San Diego Bankruptcy Attorney, San Diego Bankruptcy Attorney (Comment on this)
Tuesday, February 7th, 2012
9:17 pm	Bankruptcy Attorneys In the unfortunate event your business, like so many businesses today, suffers financial hardship, you may find yourself facing tough choices such as filing bankruptcy. Again, having an existing relationship with a law firm in such situations is invaluable. In California, a company must indemnify a director who has been successful in defending "on the merits" (as opposed to "on technicalities"). Additional indemnification may be authorized by the articles of incorporation as long as it does not exceed the minimal limits of director liability described in the section above. California law prohibits indemnification for amounts paid in settlements if a derivative action is settled without court approval, unless such indemnification is authorized by the court on a case by case basis. In Delaware, a corporate agent must be indemnified if "successful on the merits or otherwise." Furthermore, Delaware, unlike California, permits indemnification even if the director is unable to demonstrate that s/he intended to benefit the company. Nevada applies essentially the same standard as Delaware, even when the director is not under the Nevada's automatic exculpation umbrella. Anti-Takeover Measures Delaware and Nevada have enacted laws that help the boards to protect the company against unwanted acquisitions. Anti-takeover measures ("shark repellents") can include super-majority voting requirements, charter provisions for staggered boards, "poison pills" and "scorched earth" policies, - all designed to make the proposed takeover unattractive to the acquiring firm. Anti-takeover protections are strong in Delaware, perhaps to a greater extent so in Nevada, but the California law is currently not as settled on the issue. Shareholder Voting California, like many other states, only requires shareholder approval for certain major actions, such as a sale of all or substantially all of the assets. The default quorum requirement for shareholder meeting is essentially the same in California, Delaware and Nevada: a majority of the shares entitled to vote, represented in person or by proxy. Articles of incorporation may provide for a different quorum requirement, but in Delaware and California the quorum cannot be less than 1/3 of shares entitled to vote. In Nevada, however, the articles of incorporation may provide for a quorum as small as one share. Courts California does not have a special commercial court, so disputes are likely to be heard by judges with less corporate law experience than those in the renowned Delaware Court of Chancery. However, the Delaware Chancery Court creates so much complex business law that staying on top of it can be daunting even for somebody with a specialized legal training. In late 2000, Nevada's Supreme Court created two specialized business courts - in Reno and Las Vegas. Fees and Taxes California imposes a flat fee of $100 to file the articles of incorporation, regardless of the corporation's size. The minimum franchise tax (not to be confused with the corporate income tax) for the privilege of holding a corporate charter is $800 per year. Delaware and Nevada calculate the filing fee based on the number of shares authorized. The minimum franchise tax in Delaware is $75 for corporations using the Authorized Shares method and $350 minimum for corporations using the Assumed Par Value Capital Method. Delaware corporate income tax rate is 8.7%. Nevada levies no franchise tax and no business income tax. Bankruptcy Lawyer San Diego, San Diego Bankruptcy Attorney (Comment on this)
8:32 pm	San Diego Bankruptcy Attorney Reviews If you did not receive a discharge in your subsequent bankruptcy, it is very likely that you can file another bankruptcy right away and obtain a discharge of your debts. If you did receive a discharge in your subsequent bankruptcy, then you will have to wait the required number of years in order to obtain a discharge again. Mark Aalam San Diego Bankruptcy Lawyer DISCLAIMER - It should be noted that although bankruptcy is Federal Law there are many distinctions that exist between different states and jurisdictions. Many jurisdictions have their own set of laws that apply to exemptions as well as median income. For this reason this article should only be considered a rough guide, and by no means a definitive answer. If you need a certain answer you should contact a bankruptcy attorney who is knowledgeable and practices in your jurisdiction. ---------------------------------------------------------------------------------------------------------------------------- As a Bankruptcy Attorney I receive calls everyday from people that want to know if bankruptcy is right for them. This is a question that is much more complex than it may seem. Bankruptcy has many variables, as do the clients. Certain clients might benefit from filing for bankruptcy under Chapter 7 of title 11 of the Bankruptcy code, while others might find Chapter 13 to be more beneficial. Unfortunately I won't be able to provide you with all the answers in a simple article right now. But I will provide a little bit of direction that will help get you started. Before we get started you should understand the different Chapters of bankruptcy. For most individuals you will only need to know about two - Chapter 7 and Chapter 13. Chapter 7 is the liquidation of one's debts. In other words it will usually allow a debtor to wipe out his/her debts without having to make any additional payments. It does get more complicated than that, specifically when you have equity in some of your properties. We will go into that a bit more later. Chapter 13 bankruptcy requires a debtor to propose a payment plan to the United States Trustee. This payment plan will be used to pay a percentage of your debts, sometimes all of them, over the next 3-5 years. There are many other differences between the various chapters of bankruptcy but that should be good enough to keep us moving right along! After explaining the difference in the chapters to clients they usually want to do a Chapter 7 since it does not require a payment plan. The concern at that point is whether or not you actually qualify for a Chapter 7 bankruptcy. Determining if you qualify usually requires your attorney to conduct what is called the "means test." This is essentially a formula that weighs your incomes versus your expenses. However, it is not simply a test subtracting expenses from income. It is illegal for them to interpret laws and apply exemptions, thus, there are times the Trustee will have issues with your petition. If you have calculated your debt and it will take you more than three years or longer to pay off or get yourself on reasonable financial footing you need to consider your next options. Bankruptcy is a legal right, and mostly if you think you qualify... Bankruptcy Lawyer San Diego, Bankruptcy Lawyer San Diego (Comment on this)