Monthly Archives: April 2011

Bankruptcy Means Test Basics

Bankruptcy Means Test Basics _____________ Bankruptcy Means Test is the Chapter 7 Qualification Test. However, if you do not qualify for a 7, it is also used to determine the amount of your chapter 13 plan payment. Additionally, it determines … Continue reading

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Reaffirmation Agreements

A Reaffirmation Agreement is a new promissory note to keep paying on an old contract for the purchase of goods where the lender can repossess or foreclose the goods. Because you have signed a security agreement the lender has the right to repossess or foreclose if you do not pay for it. Continue reading

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Bankruptcy Attorney David Nelson

TEMECULA BANKRUPTCY ATTORNEY DAVID NELSON I have been a Bankruptcy Attorney since the very beginning. Having graduated in the top 15% of my class I passed bar the first time and in June of 1994 I opened my law office.  … Continue reading

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Chapter 13 2nd Mortgage Lien Stripping

Chapter 13 2nd Mortgage Lien Stripping You may be able to strip your 2nd mortgage or home equity line of credit, Heloc, off of your home in a Chapter 13.  Not only can you discharge the loan, or promissory note … Continue reading

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Debt Freedom and Retirement

Debt Freedom is Required for Retirement If you’re like most of us, you’re planning to retire on your 401k or other similar Retirement plan. And you’re wondering if Walmart and McDonalds will have too many “senior” team members when you … Continue reading

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Chapter 7 and Your 2nd Mortgage

CHAPTER 7 AND YOUR 2ND MORTGAGE While you may be able to strip these off of your home in a Chapter 13, in a Chapter 7, you may still be able to effectively ignore it and keep your home.  However, … Continue reading

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YOUR HOA MAY SUE YOU EVEN AFTER YOUR BANKRUPTCY

YOUR HOA MAY SUE YOU EVEN AFTER YOUR BANKRUPTCY: THE BANKRUPTCY CODE SPECIFICALLY ALLOWS IT!  The Rule is that you can eliminate your personal liability to pay your Home Owner’s Association up to the date that you file your case.  … Continue reading

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Why Bankruptcy?

You cannot serve God and Mammon. But watch what the servant did. In that parable the servant was told by the business owner that he was going to be fired because he hadn’t collected on the accounts. As the accounts manager was a bad servant because he hadn’t collected. So he settles a bunch of the accounts and he gets a commendation for it. Continue reading

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