If you are dealing with past due homeowner’s association fees and costs, bankruptcy may be able to help you reduce the amount that is required to be paid back to the homeowner’s association. In bankruptcy, when the homeowner’s association has followed the procedural and notice requirements to record a Notice of Assessment lien then the amounts listed on the lien become secured debts against the homeowner’s property in bankruptcy. After recording the notice of assessment lien additional amounts of fees, costs and attorney’s fees continue to accumulate but may be unsecured if no additional notic ..read more

NEW PROTECTION FOR DEBTORS WITH VEHICLE LOANS Recent California law changes have given all Debtors who file bankruptcy in California the option to retain and pay on their vehicle loans in a Chapter 7 bankruptcy. Prior to the changes in the law that took effect in 2023, when you filed for bankruptcy protection you had to reaffirm your auto loan and only had the option to retain and pay if the car lender offered it as an option. The option to retain and pay allows Debtors to continue to pay on their vehicle without signing a reaffirmation agreement and not having the risk of having their vehicle ..read more

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California’s New Foreclosure Law On January 1, 2021 new foreclosure laws went into effect that altered the foreclosure process in California. Under Senate Bill 1079 signed into law on September 28, 2020, a property that is a one-to-four-unit residential dwellings is subject to the new foreclosure rules. The law added Section 2924m which states that if a prospective owner occupant is the last and highest bidder at the trustee’s sale then the sale is final. The section reads as follows Civil Code 2924m(c)(1): If a prospective owner-occupant is the last and highest bidder at the trustee’s sa ..read more

Discharging Student Loans Just Got Easier The Biden Administration recently announced new guidance for the Department of Justice for handling Federal Student Loans in Bankruptcy. This guidance will likely make it easier for Debtors in bankruptcy to discharge federal student loans. Prior to this guidance being issued the guidelines for meeting the requirements to discharge student loans were unclear and appeared to be difficult to meet. The guidance will allow the Department of Justice to recommend to the Bankruptcy court a full or partial discharge of the student loans if the Debtor meets the ..read more

The short answer is YES under the right of setoff if you owe that same bank or credit union on a credit card or loan. When you have a savings or checking account with a bank or credit union it is very common to apply for credit cards or loans with that same financial institution or credit union. Most of us have built trust in our credit union or bank and feel comfortable in applying for loans or credit cards through them. When you default on your credit card or loan with your financial institution they may utilize their right of setoff to obtain payment for your credit card or loan. This right ..read more

It’s true: once a creditor gets a judgment against you it can take money out or your bank, credit union, or other financial institution account to pay that judgment. This blog post gets into what exactly a judgment creditor can do to levy your accounts, and what you can do to stop it. HOW CAN A CREDITOR JUST GRAB MONEY OUT OF MY ACCOUNTS? As my last blog post said, a “judgment give the creditor huge powers over you.” See What Happens When You Don’t Respond to a California Collection Lawsuit?  A debt is just an agreement between you and the creditor. Your compliance with that agreement is ..read more

Getting lawsuit papers can be scary. A process server, or sometimes a sheriff’s deputy, may show up at the door of your home and insist on personally handing you the papers. Or this might happen at your place of work or business. It could even happen as you’re simply walking down the street. (See Service of Court Papers from the California Courts’ website.) What the lawsuit papers say can be scary, too. There are almost two documents: a Summons and a Complaint. The Summons announces that you’re being sued and that you have 30 days to respond to the court in writing. The standard form states ..read more

Federal Bankruptcy Limits to the California Homestead Exemption At the beginning of this year (2021) the amount of home equity a California homeowner can protect from his or her creditors greatly increased. See our blog post, Huge Increase in California Homestead Exemption, about this. This new greater protection of home equity makes understanding the federal Bankruptcy Code’s limitations on homestead exemptions all the more important and timely. HOW CAN FEDERAL LAW LIMIT CALIFORNIA HOMEOWNERS’ RIGHTS TO THEIR HOME EQUITY? Bankruptcy is a federal procedure, as provided under the U.S. Constitut ..read more

Protecting Your Home in Bankruptcy The California Homestead Exemption’s Requirements of Residing in the Home and Intending to Continue Doing So The California homestead exemption amount’s huge increase at the beginning of 2021 has made it all the more important to understand when the exemption does apply to a home and when it does not. A number of practical issues about the homestead exemption deserve a closer look. For example, four plus years ago I wrote a blog post titled Can You Claim a Homestead Exemption If Not Living in Home? There have been a number of important court cases since then ..read more