Will a chapter 7 bankruptcy save my home from foreclosure?
If you are current on your mortgage payments and can stay current on your mortgage payments, then yes. Or, if you’re in default but can pay the past due mortgage payments not later than 5 days before the foreclosure, then yes. But if that’s the case, a chapter 7 shouldn’t be necessary to save your [...]
What is the chapter 7 bankruptcy process and how long does it take?
The first step is to contact me for a free consultation to see if you need to file bankruptcy and, if so, if you’re eligible for chapter 7. Eligibility for chapter 7 is determined by the means test, which compares your total average gross household income for the last 6 months. To do that, I [...]
Will filing bankruptcy delay my eviction?
Maybe, but it depends on when the bankruptcy is filed in relation to the progress of the eviction case. When a bankruptcy is filed, an automatic court ordered prohibition against many types of debt collection activities. That prohibition is called the automatic stay. The automatic stay comes into effect regardless of the chapter of bankruptcy [...]
What happens when a tenant files bankruptcy?
When a tenant files bankruptcy, a court imposed prohibition against all debt collection activities, including for rent, comes into effect automatically. That court injunction is called the bankruptcy automatic stay, or more commonly the automatic stay. If the tenant is current on the rent, then he must keep paying the rent during bankruptcy. Filing a [...]
Can I have a clause in a lease or settlement agreement saying that filing bankruptcy is a default of the agreement?
No. A clause in the lease or any other agreement saying that filing bankruptcy constitutes a breach of that agreement is called an “ipso facto” clause and such clauses are void and unenforceable under California law. So technically the correct answer is “yes, you can have such as clause in your agreement,” but it won’t [...]