Even if your creditor gets a judgment against you in California, the debt underlying that judgment remains just as dischargeable as it was before the case was filed. ? And apparently differently from New York, a judgment in California does not automatically become a lien on the defendant’s property. The discharge of a debt in…
Logic and reality have been bouncing off my clients’ deflector shields recently on the issue of their houses. Confronted with the gap between their income and even the payment on a modified loan, I get the refrain, “But keeping the house is the most important thing in my case!” Yes, and how do you expect…
Can I keep a credit card out of my bankruptcy for future emergencies, clients routinely ask. The short answer is that you can properly omit from your bankruptcy filing any card issuer with whom you don’t have a balance. Those issuers are not creditors at this point. The broader question is just how useful is…
Should you guarantee a student loan, asks my good friend Doug Jacobs. His is the cool, reasoned analysis. I want to jump up and down and say DON”T DO IT. It pains me to say that. My undergraduate education was funded in part with modest student loans. I believe education is the key to much…
I’ve continued to think about my response to David Leibowitz’s discussion of getting out of debt without bankruptcy. My first response focused on the choices inherent in paying off creditors outside of bankruptcy. I forgot to point out the efficacy issue: if you try to pay off your debts via settlement, it takes only one…
