Diemer, Whitman & Cardosi, LLP
Call Us Today
408-971-6270

Bankruptcy Archives

Potential Benefits of Chapter 11 Bankruptcy for Businesses

Chapter 11.jpgChapter 11 bankruptcy is a type of reorganization bankruptcy that is available to both individuals and business entities, although it is predominantly utilized by businesses. It is important to understand some of the ways that businesses can benefit for filing for Chapter 11 bankruptcy protections. For more information or for answers to specific questions regarding your case, call our office today to speak with a San Jose bankruptcy attorney.

Filing Personal Bankruptcy When You Own a Business

bankruptcy.jpgMany business owners that have fallen behind on their financial obligations are concerned as to whether they will be able to file for bankruptcy and keep their business. The answer to this question depends on a variety of factors, including the way in which your business is organized and whether you are personally liable for business debts. The good news for business owners is that, in many instances, they will be able to file for some type of bankruptcy and keep operating their business. If you are considering business bankruptcy, it is important to understand what types of bankruptcy may be available to you.

Bankruptcy Decision Could Put Public Pensions at Risk in California

creditor rights.jpgChapter 9 of the Bankruptcy Code allows municipalities, such as cities and counties to file for bankruptcy. Since 2011, there has been a wave of municipal bankruptcies due in part to the economic recession and also the issue of unfunded retirement obligations. The question is whether municipalities filing for Chapter 9 bankruptcy can reduce their payments to public pensions as part of a readjustment plan.

Common Mistakes for Individuals Filing Pro Se in Bankruptcy

pro se bankruptcy.jpgDetermining whether bankruptcy is the right decision for you depends on a number of factors. Over the past few years, there has been an increase in pro se bankruptcy filings. In fact, western states have the highest percentage of people filing for chapter 7 or 13 bankruptcy without the assistance of an attorney. Most consumers file for bankruptcy hoping that it will afford them a fresh start, but federal reforms to bankruptcy laws in 2005 have made consumer bankruptcy cases more complex. It is important to understand common mistakes that can be made along the way for individuals who have considered filing for bankruptcy without an attorney.

Student Loan Debt in Bankruptcy

student loans.jpgAccording to recent reports, the average amount of student loan debt for a 2015 college graduate is $35,000. Not only has that number steadily increased in recent years, a greater percentage of students are taking out student loans to help finance their college education. Given the staggering amounts of student debt and the weak job prospects for graduates coming out of college, it comes as no surprise that we are seeing the highest rate of defaults since 1995. As a result, those borrowers may be facing a crippling amount of student debt and even considering filing bankruptcy.

Halting Wage Garnishment in California

wage garnishment.jpgSometimes, it is very easy or tempting to ignore paying bills, such as taxes, student loans or even a court judgment entered against you. If you continue to ignore your debts for a significant period of time, creditors or debt collectors will take the next step and hit you where it hurts most-your wallet, and move to garnish your wages and/or bank account(s). However, garnishment of your wages or bank account will not occur until the court intervenes and issues a judgment requiring your employer to withhold wages or portions of your bank account(s) to pay back outstanding debts.

Understanding the Impact of Bankruptcy Law on Writs of Possession When They Cross Paths

eviction and bankruptcy.jpgWhen you stay in possession of an apartment or leased property after the expiration or termination of the lease, and you refuse to leave, your conduct, in the eyes of the law, is defined as an unlawful detainer. These actions are common when the landlord of the property is attempting to evict tenants that do not pay rent or expose the property or other tenants to danger. Landlords are required to use this process because under California law, they are not permitted to engage in any self-help remedies to remove a tenant who refuses to leave.

Creditors' Rights: The Versatility and Value of Writs of Attachment

creditors rights.jpgObtaining a court judgment against a business or consumer is only one part of the recovery process, especially if the party you obtained a judgment against no longer has any assets after the judgment is entered. You spent all this money on litigation costs and only to spend more money to find alternative ways to recover your judgment. However, prior to initiating the legal process, you should consider obtaining a writ of attachment, which will almost certainly ensure recovery, should judgment be entered in your favor.

Chapter 7 Bankruptcy: Understanding the Classification of Debt and the Means Test

means test.jpgDeciding when to file for bankruptcy is a stressful decision for anyone to make. But, even after deciding what type of bankruptcy to file, you have to determine if you qualify for the type you so desire. Most people opt for chapter 7 bankruptcy because it discharges unsecured debt, unlike chapter 13, which restructures your debt but requires the debtor to still make repayments

Creditors' Rights: Securing Reclamation Rights to Reclaim Goods

reclaimation of goods.jpgWhen you are engaged in the business of supplying goods, you have the ability to reclaim these goods when the buyer fails to pay. In rare instances, buyers will purchase more goods than usual, stock up inventory, then file for bankruptcy in an effort to refuse paying for the goods. When the business to which you supply goods becomes insolvent, it may seek protection of federal bankruptcy laws in order to prevent you from recovering any money owed. Regardless of the situation, no business owner wants to ship goods to buyers for free, without payment.

  • Santa Clara County Bar Association | 1917
  • American Inns of Court
  • CWL | California Woman Lawyers
  • Bay Area Bankruptcy | Forun
  • The State Bar of California
Schedule A Consultation Today

Contact Us To Schedule an Initial Consultation.

We are here to assist with your business, real estate and bankruptcy law needs, call 408-971-6270 or complete the contact form below.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy