Tag Archives: napa bankruptcy attorney

“Special Circumstances” to Pass the Means Test

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Even if you appear to flunk the Means Test, you can still qualify for Chapter 7 if you convince the court that you have special circumstances, such as a serious medical condition or a call to active duty in the Armed Forces that justifies additional expenses or adjustments of current monthly income for which there is no reasonable alternative.  Special circumstances may also be available if you just lost your high-paying job and for some reason must file bankruptcy immediately.  The fact that you made a lot of money last month doesn’t help you put food on the table for this month, so you may be able to convince a judge to allow you to file under Chapter 7 even if you flunk the Means Test.

If you have fallen behind on your bills and are being harassed by creditors contact a bankruptcy attorney in Napa, Douglas Pharr at (707) 258-2654 to see if you qualify to file bankruptcy and get a new fresh start.

Law Office of Douglas Pharr
1700 Second Street, Suite #333
Napa, CA 94559
(707) 258-2654

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Choosing Which Bills to Pay First

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Chances are you won’t have the money to pay all your bills right away.  Current bills for living expenses is the most obvious one you need to continue paying but aside from that, choosing which other bills to pay is tricky and seeking advice from a lawyer is a good option.  Because debt collectors only care about collecting money, they will bully and manipulate terrible advice to get what they want.  It is important to keep in mind what is best for you and your family.  The most important payments you have to continue with is: first, rent or mortgage, then utilities, then essential vehicle, fines, child support and alimony, income taxes, and finally student loans.

Credit cards and loans from finance companies and medical bills do not make the list because these types of creditors must sue you and obtain a judgment before they can take any of your property.  If bankruptcy is inevitably in your future, you should neither repay any loans to close friends or family members nor loans that are cosigned by any of them.  Credit counselors may try to convince you into taking a home-equity loan to pay off your credit cards.  If you will be filing for bankruptcy, a home-equity loan is a terrible idea because you would transform unsecured debts into a debt secured by your home and if you don’t pay, they can take your home.

If you have fallen behind on your bills and are being harassed by creditors contact a bankruptcy attorney Napa, Douglas Pharr at (707) 258-2654 to see if you qualify to file bankruptcy and get a new fresh start.

Law Office of Douglas Pharr
1700 Second Street, Suite #333
Napa, CA 94559
(707) 258-2654

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Personal Bankruptcy Myths

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Filing for bankruptcy can be a tough decision for most people. It may also be the only solution to the debt problem that you are going through. Bankruptcy can be very intricate and detailed. You might hear a lot of truth and lies about filing for bankruptcy. Also, you might hear a lot of conflicting information about personal bankruptcy.

One common myth is that people can’t file for personal bankruptcy. This is one of the many things creditors try to make you believe and it is certainly not true. Any debtor is allowed to file for personal bankruptcy. Another common myth is that you can only file once in your lifetime for bankruptcy. This is not true because you can file for different kinds of bankruptcy and file for the same type after a certain amount of years.

If you have fallen behind on your bills and are being harassed by creditors contact a bankruptcy lawyer in Napa, Douglas Pharr at (707) 258-2654 to see if you qualify to file bankruptcy and get a new fresh start.

Law Office of Douglas Pharr
1700 Second Street, Suite #333
Napa, CA 94559
(707) 258-2654

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Pensions and Retirement Accounts

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It is important to consider the status of your nest egg before filing bankruptcy. The Employee Retirement Income Security Act of 1974 (ERISA) covers most private pensions. If your pension is covered by ERISA- check with your pension plan administrator if you’re unsure—then it is protected during bankruptcy. This is true even if you are using the state exemptions and no exemption is listed for it.

The reason for this is twofold. If you use the federal exemptions, your ERISA pension is exempt. If you use the state rules instead, the interaction of ERISA law and the bankruptcy code results in your ERISA pensions not being part of your bankruptcy estate. So if you have an ERISA pension or 401(k), you’re in great shape.

What if your pension isn’t covered by ERISA? Well, it may figure it out is it’s not ERISA-qualified. A good way to figure it out is to find out through your employer if you can take funds out of your retirement plan. If they tell you that you cant get it, it’s likely that your creditors can’t get to it, either. If your pension is at risk because it is non-ERISA, contact a bankruptcy attorney for help. This is something you don’t want to find out about after it’s too late. Your retirement money is something you shouldn’t have to give up.

If you have fallen behind on your bills and are being harassed by creditors contact a bankruptcy attorney in Napa, Douglas Pharr at (707) 258-2654 to see if you qualify to file bankruptcy and get a new fresh start.

Law Office of Douglas Pharr
1700 Second Street, Suite #333
Napa, CA 94559
(707) 258-2654

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Bankruptcy State Exemptions

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If, in the 180 days prior to filing your bankruptcy petition, you primarily lived in one of the following states or territories, you can choose between the federal exemptions and your state’s exemptions. The states and territories that allow you to choose are:

  • Alaska
  • Arkansas
  • Connecticut
  • District of Columbia
  • Hawaii
  • Massachusetts
  • Michigan
  • Minnesota
  • New Hampshire
  • New Jersey
  • New Mexico
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • Texas
  • Vermont
  • Virgin Islands
  • Washington
  • Wisconsin

State exemptions vary widely. In some cases they are comparable to, or more generous than, the federal exemptions. An outstanding example of this is Texas, where the state exemptions look like this:

  • Homestead exemption. Within broad limits , the debtor’s homestead (the primary residence, the land around it, and the buildings on that land) is completely exempt.
  • Personal property exemption. For a single debtor, Personal property worth not more than $30,000 in total is exempt. For a debtor who is married or the head of a household, the limit is $60,000 in personal property.

In other cases, the state exemptions are far less than the federal ones. An example of this situation is Arkansas, where the state exemptions look like the following.

  • Homestead exemptions. For the debtor’s primary residence, equity of up to $2,500.
  • Personal property exemption. If single, up to $200 in property is exempt. If married, up to $ 500 in property is exempt.

The federal exemptions are much more generous than this, so if you were filing in Arkansas, the odds are good that you would use the federal exemptions instead of those the state offers.

If you have fallen behind on your bills and are being harassed by creditors contact a Napa bankruptcy attorney Douglas Pharr at (707) 258-2654 to see if you qualify to file bankruptcy and get a new fresh start.

Law Office of Douglas Pharr
1700 Second Street, Suite #333
Napa, CA 94559
(707) 258-2654

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Bankruptcy Exemptions

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So what exactly are exemptions? Exemptions are laws that protect your property form claims of creditors. In other words, exemptions are things that can’t be taken away from you to pay your debts. The federal bankruptcy code defines a set of bankruptcy exemptions that you can use when filing for bankruptcy. However, most states allow you to choose whether to use the state exemptions or the federal ones.

If you have fallen behind on your bills and are being harassed by creditors contact a Napa bankruptcy lawyer Douglas Pharr at (707) 258-2654 to see if you qualify to file bankruptcy and get a new fresh start.

Law Office of Douglas Pharr
1700 Second Street, Suite #333
Napa, CA 94559
(707) 258-2654

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Before Meeting With a Lawyer for the First Time

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Get organized before you meet with the lawyer. Have all your paperwork in order so you can take it with you to the meeting. Also, be ready to describe your situation in as much detail as possible.

When making your appointment with a Napa bankruptcy lawyer, ask specifically what documents the bankruptcy attorney needs to see that might be relevant to your debt problems. Some bankruptcy lawyers will as you to bring certain information to the first meeting, while some prefer to meet with you first to discuss which documents they will need. Either was, having this information at your fingertips will enable you to answer any questions that can allow your Napa bankruptcy attorney to best analyze your case.

If you have fallen behind on your bills and are being harassed by creditors contact a Napa bankruptcy lawyer Dougls Pharr at (707) 258-2654 to see if you qualify to file bankruptcy and get a new fresh start.

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