9454 Wilshire Blvd, Sixth Floor, Beverly Hills, CA 90212

Blog

Recent Blog Posts

How Does California’s Homestead Exemption Work in Chapter 7?

California debtors who own their primary residence and are considering filing for Chapter 7 bankruptcy protection can take advantage of California’s homestead exemption to shield at least part of the equity in their home from creditors. However, the exemption has limitations and restrictions. Any debtor considering filing for Chapter 7 should consult an experienced bankruptcy […]

Using the Business-Debt Exception to the Bankruptcy Means Test

Debtors who are considering filing for bankruptcy protection under Chapter 7 must meet the means test, which is designed to make this remedy unavailable to people with sufficient incomes to pay off all or a portion of their debts. If the debtor’s income for the prior six months is higher than the median income in […]

How the CARES Act Expands the Reach of Small Business Bankruptcy Protection

In February 2020 the Small Business Reorganization Act went into effect, creating a low-cost, streamlined procedure, known as Subchapter V, for small businesses seeking bankruptcy protection from creditors. No sooner had the law gone into effect than the COVID-19 virus hit the U.S., with a resulting economic recession that put thousands of businesses across the […]

What is the Right of Redemption in Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is called liquidation because some of the debtor’s property is converted to cash to pay back creditors. However, property that is subject to secured loans is treated differently. The asset can be repossessed by the lender when the debt is discharged. But Chapter 7 filers may have secured personal property that they […]

Discharging Student Loans Based on Undue Hardship

Student loan debt now exceeds $1.2 trillion, meaning Americans have more student debt than credit card debt. About one third of all bankruptcy filers have student loan debt, yet less than 1 percent of these filers attempt to have their student loans discharged. This is due to the perception that it is impossible to erase […]

CARES Helps Bankruptcy Filers During the COVID-19 Pandemic

More than 40 million U.S. workers have filed for unemployment since the coronavirus pandemic spread across the nation, and many who still have their jobs are understandably worried that layoffs could be coming anytime. Business owners, too, are feeling the pain. A recent BizFed survey found that approximately 90 percent of small companies in the […]

How Exemptions Help You Keep Your Property in Bankruptcy

One of the most persistent misunderstandings in bankruptcy is that you have to give up your assets to gain a discharge from debt under Chapter 7. The truth is, most Californians who file in Chapter 7 get to keep most of their property. Remember, the goal of bankruptcy is to help you get a fresh […]

The CARES Act, The COMOD and Chapter 13 Plan Infeasibility

With the enactment of the CARES Act, Chapter 13 Debtors can now get temporary relief from making their plan payments to the Chapter 13 Trustee through a stipulation called a COMOD Stipulation. The COMOD Stipulation allows Debtors to suspend up to 3 plan payments and/or extend the 60-month plan by 3 months, if necessary. For […]

Could the COVID-19 Pandemic Lead to the End of Medical Bankruptcy?

In the middle of an election year where healthcare is already a hotly debated issue, the COVID-19 pandemic has stirred further discussion about whether major changes are necessary. During the Democratic presidential primary, the concept of Medicare for All split the candidates. While the candidate who promoted that concept has since dropped out of the […]

In these trying times, bankruptcy law is more important than ever!

In these trying times, bankruptcy law is more important than ever! That is why, since the Stay At Home Order went into effect, we have worked tirelessly to keep operations at our firm up and running for all of our current clients and potential new clients. Though we, too, are affected by the state-wide Stay […]

X

Contact Form

We will respond to your inquiry in a timely fashion. Thank you.

Quick Contact Form

MICHAEL JAY BERGER

Privacy Policy