The San Diego Bankruptcy Lawyer’s Likable List of Linkable Links
Check this bankruptcy link to measure whether your income’s below- or above-your- state’s median. If you earn equal to- or below-the-median, then you presumptively qualify to file Chapter 7 bankruptcy (i.e. you’re likely eligible for chapter 7). If you earn above median, you may still qualify for chapter 7 bankruptcy, or you might opt for chapter 13.
Bankruptcy Statutes and Rules
Find the bankruptcy statutes and rules in Cornell Law School’s legal database. Its user-friendly bankruptcy links make it a favorite for bankruptcy lawyers and paper salesmen alike. Not much of a beach read, but Cornell’s bankruptcy links to the entirety of Chapter 7 and to all of Chapter 13 are yours for the taking.
Bankruptcy links to legislation and case law are plentiful. Bankruptcy is governed by Federal statutes and Rules, State statutes (CA exemptions are covered here and here with updated figures here), Local district Rules, and a heck of a lot of case law from the San Diego Bankruptcy Court to Washington D.C. with many an appellate place between ’em: the District Court, the specialized Bankruptcy Appellate Panel (BAP), and the 9th Circuit (that’s San Diego’s Circuit) Court of Appeals.
Caveat: out-of-staters are invited to this San Diego site to sit and stay a while; but remember that federal bankruptcy law is largely affected by state and local rules. This bankruptcy links page focuses on San Diego bankruptcy law.
The F-Word (Fees)
San Diego Bankruptcy Court fees are found here.
Credit Counseling and Debtor Education
Within 180 days before filing bankruptcy, one’s compelled to complete a brief credit counseling class (online). After filing bankruptcy, another wee session (dubbed “financial management”) must be done.
For mandatory credit counseling and financial management courses, peruse this list to locate a provider approved by your specific bankruptcy court district. Fees range from about $15 to a whole lot more if you’re steered wrong. Your San Diego bankruptcy attorney will steer you right. Don’t do these counseling courses before retaining your San Diego bankruptcy lawyer.
United States Trustee
The U.S. Trustee oversees improprieties in bankruptcy filings. In San Diego, the UST’s responsibilities include inquires and audits of bankruptcy petitioners. If that should happen, it’d be a good time to have an advocate at your side.
Non-government-employed officials, also called trustees oversee the main administration of your case. These individuals will conduct the brief, but formal interview at the Title 11, Section 341(a) Chapter 7 or Chapter 13 Bankruptcy Meeting of Creditors.
United States Trustees… individual-chapter trustees… and (don’t forget) creditors– like the lions and tigers and bears (oh my!) that abound on the yellow brick road, bankruptcy is fraught with potential peril if you’re not properly represented. Perusal of a plenitude of bankruptcy links can provide a basic background, but bankruptcy isn’t an even playing field; you need the best bankruptcy attorney on your side: one with a heart, brain and courage, ’cause you can’t go at it alone.
On Cancellation of Debt
Canceled debt is considered “income,” which translates into a potential tax obligation. The IRS explains it here. The bottom line is that debt forgiven (pursuant to settlement, partial payment or foreclosure) may translate to significant tax liability. Yet if debt’s canceled in chapter 7 or chapter 13 bankruptcy, then tax liability doesn’t ensue.
The Mortgage Debt Forgiveness Act (which exempts certain erstwhile homeowners from tax liability independent of bankruptcy) was originally set to expire at the end of 2012, though it’s been subject to subsequent last-minute renewal. You have to check yearly for its current application: i.e. when it’s too late. Again, bankruptcy fully resolves tax implications of canceled-debt (and tackles other tax debacles).
The value of your home significantly impacts our assessment of bankruptcy options.
Online appraisals, including Zillow and Trulia are based upon comparative market values. We’d advise if an actual broker opinion or appraisal’s warranted, and refer you to a certified low-cost professional.
Personal property and vehicles must be valued within your voluminous bankruptcy petition. Bankruptcy links for vehicle valuations include NADA and Kelley Blue Book. Your local Carmax offers free appraisals.
For other personal property, one may consult vendor listings for items of like quality and condition (e.g. eBay or Craigslist). In the course of bankruptcy representation, we’ll guide you in valuing assets correctly.
Just don’t start shopping, while you peruse the sites above. Ironically, it’s the dude on our highest denomination who intoned, “A penny saved is twopence dear” (dumbed down today to “A penny saved is a penny earned”). The bankruptcy analogy is, “A penny of debt canceled is twopence dear.”
This marvel of a site reminds me of the quandary of that fallen tree in the forest. If Wikipedia hasn’t written of it, does it really exist? Wikipedia boasts bankruptcy links aplenty.
The law guru site includes many a query and post (including by Yours Truly). Yet, contact your San Diego bankruptcy to obtain in-real-time and case-specific information. Beware the incomplete and casual attorney posts.
Avvo is an abbreviation of “Avocado” (which in turn traces to the Nahuatl word ahuacatl), an alligator-skin-like, peeled, pear shaped, yellow-green-fleshed, large-seeded fruit. Avvo is also short for Avvocato (which in turns traces to the Latin advocatus), the Italian word for “lawyer.” Avvo.com is a popular destination for questions and answers on all things bankruptcy law.
For further bankruptcy links, please peruse our plentiful pages and posts.