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Law Office Of Seth L. Hanson Bankruptcy Blog


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The legal blog of a Sacramento Bankruptcy Attorney supplying weekly information on debt, bankruptcy, loans, retirement, wage garnishment, and more.
2022-04-22 20:34
In every bankruptcy case the “debtor” or person filing bankruptcy, will have to appear at what is called a “Meeting of Creditors” or “341 Meeting”. Many o… Read More
2022-03-20 20:48
I often get asked what happens to car loans in bankruptcy. There are a few different approaches to treating vehicles in bankruptcy. Retain and Pay The option to keep the car and keep making… Read More
2022-01-20 16:39
Because bankruptcy essentially impedes creditors from collecting their money that they’ve lent out, many people think that filing for bankruptcy irreversibly tarnishes your financial r… Read More
2022-01-14 16:38
When people hear the word bankruptcy, they tend to freak out.  It can provoke thoughts of financial ruin and sometimes filing for bankruptcy can be viewed as a form of punishment. … Read More
2022-01-09 16:35
Losing your home in bankruptcy is never a pleasant experience.  The details of the process, however, are very important.  There are several things to keep an eye on when surrenderi… Read More
2022-01-07 16:42
Many people worry about losing property when considering filing for bankruptcy.  In such cases, it makes sense to do a cost-benefit analysis.  To do this, you’ll have to look… Read More
2021-12-28 19:35
The mentality of having it now and paying for it later appeals to millions of Americans.  This mentality leads many to buy things they can’t afford and cripples them with debt.&nb&hell…Read More
2021-09-22 16:51
Will my bank accounts be frozen? Most of the time, bank accounts are not frozen after filing bankruptcy. However, there are some occasions where a bank may choose to freeze an account. A.)… Read More
2021-09-16 17:15
A lot of our clients have at least one credit card that is in good standing that they express a desire to hold onto throughout and after the bankruptcy. Unfortunately, in bankruptcy we can&r&hell…Read More
2021-09-01 17:03
Some of our clients in the past have expressed some discomfort in providing bank statements. It may feel invasive to have an outside individual looking through transactions in your account… Read More
2021-06-21 17:24
When filing for bankruptcy, all of your property (including your bank accounts and the funds contained within) becomes part of a “bankruptcy estate” which is administer… Read More
2021-06-12 14:29
If you are sued, will bankruptcy help you? The answer to this question may vary depending on the circumstances that led to the lawsuit being filed against you. Many people consider… Read More
2021-06-06 17:19
Here are a few things to keep in mind now that you are in active Chapter 13 bankruptcy: Please make sure your tax withholdings are set for your correct tax liability. The goal is to mak… Read More
2021-06-01 17:55
Gambling can be a serious addiction, causing personal and financial distress for you and your loved ones. Gambling can also cause someone to have to rely on personal loans or credit car… Read More
2021-05-30 14:20
As the weather gets warmer, summer draws near, and COVID vaccination access becomes more widespread, many have begun to plan their trips which they have been putting off over the l… Read More
2021-05-27 17:28
With this year’s tax season wrapping up, many Americans will start receiving a refund from the government. If you are considering bankruptcy and expect a refund for your 2020… Read More
2021-05-26 17:19
Currently there are approximately 2.67 million Americans in a mortgage forbearance.  Forbearances come in many shapes and sizes. Some are part of a greater loan modification process tha… Read More
2021-05-14 17:51
The filing deadline for 2020 tax returns is approaching and many filers fear a looming tax bill after a difficult year for many American households. Many people who may normally no… Read More
2021-04-07 17:05
Being able to understand your personal tax situation year to year, can be one of the best financial moves you can make. Many people do not take the time to understand their situation o… Read More
2021-03-01 21:55
With everything going on in the World today, you may find yourself struggling financially with your situation. According to a survey by information technology company Highland Solutions, 63%… Read More
2021-01-04 16:44
Millions of Americans have received unemployment compensation this year as a result of COVID-19 restrictions and shelter in place orders. What many don’t know is that unemployment comp… Read More
2020-12-06 18:42
Creditor lawsuits can be a catalyst for considering bankruptcy. Many of our clients fear potential wage garnishments, bank levies, and property liens that result from a creditor lawsuit and… Read More
2020-10-27 17:43
Are Americans Waiting Too Long to File Bankruptcy Amidst COVID?   Roughly 17 million people (about 14% of US households) owe more value in debt  than they do in assets, accord… Read More
2020-10-05 22:30
According to Yelp, 163,735 businesses have reportedly closed. This is a 23% increase since their last report in July. Yelp has also been tracking businesses that report their closures as pe… Read More
2020-09-28 19:05
Whether you file Chapter 7 or 13 bankruptcy, you will need to be prepared to meet with a court-appointed bankruptcy trustee whose job is to ensure the veracity of disclosures contained with… Read More
2020-09-25 18:57
Filing for bankruptcy can be an intensely personal decision, but what happens to your romantic partner if you file? Just how involved does your partner have to be in your filing? Do they ne… Read More
2020-09-04 20:33
Many of our potential clients call us wanting to file bankruptcy on their debt without negatively impacting a spouse. There are many couples who choose to put the majority of debt into one… Read More
2020-09-01 20:24
On August 31st, Governor Newsom signed a Coronavirus eviction relief bill. The bill aids Californians who have not paid rent since March 1st due to the virus stay in their homes until Janua… Read More
2020-08-28 20:14
There are times when a creditor will write off its losses and stop attempting to collect from you. They may decide the balance you owe is uncollectible or perhaps you offered to settle the… Read More
2020-08-21 22:17
During any bankruptcy, a person’s creditors will have an opportunity to object to the forgiveness of your debts. One of the most important things to make sure of before you file is th… Read More
2020-08-17 20:01
The pandemic has caused financial turbulence in most American households. However, not all debt has been affected equally. Credit Cards A recent survey of consumer borrowers found that 1 in… Read More
2020-08-15 19:45
The retail apocalypse has been plaguing retailers for years since the online shopping craze hit. Major retailers such as Sears, JC Penney have been hurting for years. Fast forward to the pa… Read More
2020-08-03 21:30
Mortgage payments are usually the largest monthly expense a person has in their budget. The last thing someone wants to do is to make that payment even greater, especially when one is looki… Read More
2020-07-27 21:15
Once my clients complete their bankruptcy filings, one question that has frequently emerged in my practice is: How exactly did the bankruptcy discharge affect my credit? Running your credit… Read More
2020-07-20 21:55
The means test is a formula that the court uses in order to determine eligibility for a chapter 7 or to determine the amount of debt that needs to be repaid in a chapter 13. The means test… Read More
2020-07-20 21:07
Many people are afraid of losing their cars in a chapter 7 bankruptcy when in reality it is rare for someone to actually lose their car. The first big factor that weighs in regards to your… Read More
2020-07-13 18:53
A lot of people call my office hoping to file bankruptcy in an attempt to stop an eviction. Prior to 2005, an eviction could be stopped by filing bankruptcy. The Bankruptcy Abuse Prevention… Read More
2020-07-08 12:50
Many of our clients with timeshares come to us either loving or hating their timeshare. Some families want to keep the timeshare and continue to use it. Other families, however, are burdene… Read More
2020-06-15 12:09
Four months ago, congress approved supplemental unemployment benefits of $600 per week for workers who lost their jobs due to the pandemic. This week marks the end of those payments. … Read More
2020-06-01 15:49
There are times when a client comes to us that needs to file bankruptcy, after having filed a previous case. Some find themselves wondering if a prior filing will prevent them from filing a… Read More
2020-05-11 20:50
Recently several news outlets have reported that due to the CARE’s act, bankruptcy filings are down 34% nationwide. Some are saying that the reduction is due to the temporary assistanc… Read More
2020-05-04 20:29
When our clients are underwater on their vehicle purchase, bankruptcy can be a great solution. If the goal is to just let the vehicle go and get out from a bad loan, bankruptcy can take car… Read More
2020-04-13 17:43
Many clients have become concerned that the stay at home order will delay the bankruptcy process. Although the courts are not holding in-person sessions, 341 meetings or “Meeting of C… Read More
2020-04-04 20:03
On April 23, 2020, Governor Gavin Newsom signed an executive order preventing stimulus funds from being seized by debt collectors. Financial assistance given to Californians through the CAR… Read More
2020-03-09 19:42
Who is the trustee and what do they do? Is the trustee the same as a judge? These are the questions we hear often in our office. A trustee is appointed in each bankruptcy case. They are ess… Read More
2020-03-02 18:18
Debtors who are looking to file bankruptcy often have questions on whether or not their anticipated tax refunds can be protected or if they will be seized by the trustee. The answer to that… Read More
2020-02-24 18:09
If you owe money to the IRS or State Franchise Tax Board, there’s no ignoring it. Sometimes referred to as the most aggressive collection agencies in the world, the Internal Revenue S… Read More

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