LOS ANGELES BANKRUPTCY BLOG
We are excited to be launching our firm blog, dedicated to educating readers on a variety of bankruptcy issues and strategies, debt settlement issues, asset preservation, and debt restructure of all types. On a regular basis, we will be sharing new strategies, planning tips, asset exemption planning, case results and firm developments.
One of the things we will be focusing on immediately, as these issues are clearly great concerns for so many people in these troubled economic times are ways in which people can "strip" liens off real estate and other property--thereby reducing the amount of debt on each property to the value of asset. This is particularly helpful for people owning property which has far more debt on it than the property is worth. "Lien stripping" quite literally removes mortgage debt from property-- the "stripped"debt and unsecured claim.
We will also focus on the use of chapter 11 of the bankruptcy code for individuals. This is a very powerful tool which unfortunately many bankruptcy law firms refuse to use for their clients. We have done so very successfully.
We welcome your questions and comments. Please contact our firm at 866-572-2423 or visit our web site at http://www.wsrlaw.net/.
Man Pleads Guilty in California Foreclosure Rescue Scam
Jan 25, 2012
California's foreclosure crisis has had thousands of owners of distressed properties and defaulted home loans struggling for help to keep foreclosure at bay. Unfortunately, this has fostered an environment that’s ripe for foreclosure rescue scams to thrive. One such scam in Southern California, which had been linked to a Texas man, has ended with his guilty plea. Continue Reading
Chapter 11 Plan of Reorganization
Jan 10, 2012
Weintraub & Selth, APC recently confirmed a Chapter 11 Plan of Reorganization for a logistics and trucking company with 40 employees. Successful plan treatments were negotiated with the company’s lender, the Internal Revenue Service and the County Tax Collector, and the Plan was confirmed just over a year after the case was filed allowing the company to pay off these substantial tax liabilities over many years.. The company was able to save its warehouse from foreclosure, sell surplus equipment and restructure its debts to concentrate on the profitable aspects of its business. Continue Reading
Plans to Rent Foreclosed Homes Pick Up Traction
Dec 29, 2011
Several firms, including a few of those that were involved in triggering the housing crisis, have responded to requests from the U.S. government for proposals to rent out foreclosed properties in an effort to address the foreclosure crisis. Continue Reading
Why You May Need a Personal Bankruptcy Lawyer Pers bank
Aug 26, 2011
California Sees Steepest Drop in Foreclosures in Four Years
Aug 01, 2011
More Chapter 11 Bankruptcy Filings for California Real Estate Developer
Jul 01, 2011
Continue Reading
Can my employer fire me for filing bankruptcy?
Jan 17, 2011
No, the Bankruptcy Code prohibits an employer from discriminating against you for filing bankruptcy. 11 U.S.C. ยง 525(b) provides that "no private employer may terminate the employment of, or discriminate with respect to employment against, an individual who is or has been a debtor under this title. . ." This means that you can't be fired from your job simply because you have filed for bankruptcy. Continue Reading
Beware of Debt Settlement Scam
Nov 11, 2010
Weintraub & Selth, APC has helped hundreds of individuals and couples discharge millions of dollars of debt and obtain the "fresh start" bankruptcy provides. Unfortunately, many of these clients had already lost thousands of dollars in fees paid to a "debt settlement" company before they came to see us. Continue Reading
Another Chapter 7 Success Story
Oct 18, 2010
In May, 2009, Mrs. S had a rental property foreclosed by the first trust deed lender when her tenants stopped paying rent and she was no longer able to pay the mortgage payments. A year later, the holder of the second trust deed on the property started making demand on her to pay the $49,000 balance on the second trust deed loan which was now an unsecured debt, and threatened to sue her for this debt. (See "Truths About Foreclosure: http://www.labankruptcyblog.com/tp-100928123529/post-100928123820.shtml) Mrs. S also had about $79,000 in credit card debt on which she was falling behind in payments, because the property management business owned by Mr. and Mrs. S was struggling in the tough Southern California real estate economy. Continue Reading
