What is a “Fraudulent” Transfer in California? A judgment is merely a piece of paper signed by a court that allows a creditor to take the debtor’s assets or to force a debtor to pay the debt from their income. Some judgment debtors, realizing that judgment collection methods will allow the creditor to take their assets, … Read More
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 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 bankruptcy exemption is the … Read More
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
Fraudulent Transfers in Bankruptcy – Adversary Proceedings Fraudulent transfers are one type of adversary proceeding in bankruptcy in which the trustee attempts to recover property for the benefit of the creditors of the debtor’s estate. A full discussion on fraudulent transfer actions can be found on our blog post on Fraudulent Transfers in Bankruptcy. In … 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
You may have recently received a letter from a trustee in a pending bankruptcy case indicating that the debtor received a discharge in the bankruptcy. You are not alone if you have no idea what this notice of discharge means. Does a notice of discharge mean that all preference (read about the two most heavily … Read More
While many California homeowners have heard of 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 exemption. What is … Read More
What is a Lis Pendens? In essence, a lis pendens is a notice of pending litigation against a piece of real property. A lis pendens means a “notice of the pendency of an action in which a real property claim is alleged.” See Code Civ. Proc. § 405.2. A party who asserts a claim against … Read More
How Much Home Equity Can a Debtor Exempt in California Bankruptcy? As California bankruptcy attorneys, we are often asked how much equity a debtor can have in their home and still file for Chapter 7 bankruptcy? The answer is simple: anyone can file for bankruptcy, but it may not be wise to if the debtor’s … 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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