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Jen is a specialist in financial trouble and you can credit procedures and enjoys in order to dismiss the newest mythology off personal bankruptcy

Jen is a specialist in financial trouble and you can credit procedures and enjoys in order to dismiss the newest mythology off personal bankruptcy

Heard this new misconception one to submitting bankruptcy spoils the probability so you can get a house for years! Would it amaze one to learn that this isn’t always your situation? With this episode of I know legal counsel, I discuss the misunderstandings of personal bankruptcy that have Jen Lee from Jen Lee Laws. I discuss:

Jen is the specialist attorneys indebted and you may credit approach and you may possess wanted to join myself today to discuss the misunderstandings away from personal bankruptcy

Contact Jen Lee at jenleelaw when you have any questions relating to help you bankruptcy otherwise borrowing from the bank or loans things. She’s a huge resource and it has aided lots of people and you may organizations graph a road pass, despite this type of pandemic times. Many thanks to Jen for joining me into the podcast.


Welcome to the show. This really is, I understand an attorney i am also the servers, Ryan Lockhart, as you may know, chances are, it podcast try delivered from the McKenna Brink Signorotti, LLP. We’re the complete service boutique attorney inside Walnut Creek, Ca, in which you can expect legal counsel between providers laws house and tax believed and civil legal actions. Check us out within mckennabrink more resources for the way we also provide judge possibilities to you. Today, I’m entered by the Jen Lee off Jen Lee laws. This is the fresh new show, Jen, exactly how are you now?

Ah, thanks for signing up for. We have keep an eye out forward to so it talk for a bit now because the case of bankruptcy would be the fact part of the laws that we learn a bit regarding the, however, definitely not just the right something. Thus really just, let us merely start with the procedure of a personal bankruptcy. What is the procedure for a bankruptcy proceeding?

It is therefore fascinating. There are additional sections of personal bankruptcy, but constantly after anyone find they will document bankruptcy, there are numerous guidance that is compiled. The fresh judge need regarding the sixty users property value times which can be filled out. That is my work as attorneys to make certain those people try completed correctly. Along with to identify all of the possessions, all of your debts, your revenue, the expenditures, generally any financials is actually nowadays therefore, the trustee in addition to court are able to see sorts of just what continued, why our company is in this instance one to the audience is in the. Thereby while the circumstances is filed, then there’s a beneficial trustee fulfilling. Right now with COVID going on, this new trustee conferences are common of the zoom otherwise from the cell phone. Therefore it is come a fascinating changeover. As well as new trustee appointment, they feedback all of your files, make certain you responded everything truthfully, make sure you are not concealing the break family in The state or something to suit your schedules.

And it’s constantly such as for example five so you’re able to 10 minutes toward a normal quick case. So it is a fairly easy conference and you can reading to check out as long as you’re prepared. Immediately after which according to what section off personal bankruptcy you are in, while from inside the chapter eight, you’re released upcoming will come in two months later along with your debt is fully gone. If you find yourself inside section thirteen otherwise part 11, discover always a repayment bundle. That’s advised that legal approves which type of thing. That it starts separating away. When you are in almost any sections of bankruptcy proceeding, what the results are, but them include full disclosure of financials and you may a good trustee conference, generally.

Who is the trustee? This might be however diverse from a great trustee when you look at the particularly house think. Thus can you imagine very having good trustee within processes.