by Devin Sawdayi | Mar 27, 2016
The bankruptcy process helps people who cannot make all of their required debt payments with their available income. It allows them, in Chapter 13 cases, to create a manageable payment schedule, or to pay down their debts by liquidating assets in Chapter 7. At the end...
by Devin Sawdayi | Nov 18, 2015
50 Cent, the well-known rapper, producer, actor, and entrepreneur, filed a bankruptcy petition in July 2015, claiming nearly $25 million in assets and about $32 million in debt. At that time, he was involved in a civil lawsuit in New York that was about to go to...
by Devin Sawdayi | Sep 18, 2015
A U.S. district court in Los Angeles affirmed a bankruptcy court’s order finding that a judgment creditor willfully violated the automatic stay in a Chapter 13 case. In re Bayley, No. 2:14-cv-07799, order (C.D. Cal., Jan. 14, 2015). The automatic stay takes effect the...
by Devin Sawdayi | Aug 29, 2015
The City of San Bernardino joined a number of cities around the country by filing for bankruptcy in 2012. See In re City of San Bernardino, 499 B.R. 776 ((Bankr. C.D. Cal 2013). While a municipal bankruptcy differs from a personal or business bankruptcy in numerous...
by Devin Sawdayi | May 11, 2015
A California bankruptcy court recently ruled on a motion to lift the automatic stay in a Chapter 13 case by a company that purchased real property at a foreclosure auction. In re Richter, No. 6:14-bk-10231, mem. dec. (Bankr. C.D. Cal., Jan. 20, 2015). The purchaser...
by Devin Sawdayi | Apr 12, 2015
When a debtor files for bankruptcy under Chapter 7 or Chapter 13, an automatic stay takes effect that bars most legal actions against the debtor or the debtor’s property. Violations of the automatic stay can result in substantial liability for the debtor. The Ninth...
