Southern California Bankruptcy Law Blog

Monthly Archives: December 2011

A Bankruptcy History Lesson

Posted in Debt

In my last post I discussed reaffirmation of debts in bankruptcy.  Near the end of the post I described some loans I had seen my clients take out with interest rates as high as 496%.  At the end of the post I said that that loan shark rate was perfectly legal and promised to tell… Continue Reading

What Is Reaffirmation?

Posted in Chapter 7, Debt

This question comes up all the time – either explicitly, or implicitly – during my consultations with prospective and current clients.  Because there is no shortage of misinformation on the subject, it’s about time I wrote on it. I.          Secured Debts In typical consumer bankruptcy practice reaffirmation comes up almost exclusively within the Chapter 7… Continue Reading

What Happens If I Forgot To List A Creditor In My Bankruptcy Papers?

Posted in Automatic Stay, Chapter 11, Chapter 13, Chapter 7, Debt

The answer differs depending on the nature of the debt and under which chapter the bankruptcy case was filed. I.          The Key Exception To Discharge The key provision of the Bankruptcy Code that we use to answer the question is 11 U.S.C. § 523(a)(3), which states (with emphasis added): A dischargeunder section 727, 1141, 1228… Continue Reading