Category Archives: Bankruptcy
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 […]
Always Learning More
At the Law Offices of Michael Jay Berger, my associate attorneys and I are always learning more. Every month, I take educational classes on bankruptcy topics. Tomorrow, I am attending a class at Southwestern Law School with United States Bankruptcy Court Judge Neil Bason. This program has the catchy title, “Attorney Conduct and What to […]
Giving Up Real Estate in a Chapter 7 Bankruptcy
In a Chapter 7 bankruptcy, the trustee may sell a portion of the debtor’s property in attempts to repay creditors. Not everything has to be turned over to the bankruptcy trustee, however, as California bankruptcy laws allow the debtor to keep exempt property. Property that is exempt is considered to be the “necessities of modern […]
How the Liquidation of Assets Works in Chapter 7
Many people fear they will be left with nothing when filing for Chapter 7 bankruptcy, but that is not the case at all. Chapter 7 liquidates your assets and uses the proceeds to pay back creditors. After assets have been liquidated and the creditors paid back, you may then be free of all consumer debts […]
Medical Bills, Job Loss Among Top Reason for Bankruptcy in US
Approximately 1.7 million people will file for bankruptcy protection this year, and about 56 million adults will struggle with health care-related bills in 2014. There has been a significant increase in Americans being unable to pay off their debts over the past 20 years — and Congress has responded by making it more difficult to […]
In Bankruptcy, GT Advanced Attempts to Expose Apple’s Disclosure Requirements
GT Advanced Technologies, the company that was to supply Apple with scratch-resistant sapphire, is attempting to expose some of the details of its Chapter 11 bankruptcy filing. Originally, the company wanted to seal certain documents or file them in redacted forms. The information GT Advanced now seeks to release would allegedly describe the partnership with […]
