Posts Tagged ‘Chapter 7 bankruptcy’
Friday, November 6th, 2009
Chapter 7 bankruptcy filings for residents of Orange County, Riverside County, and San Bernardino County continue to be high, as local bankruptcy attorneys can attest. Although few cities in these counties are immune, the concentration of chapter 7 filings tend to be higher in some cities more than others.
The Orange County cities with the most Chapter 7 bankruptcies filed during October 2009 are as follows:
Anaheim, Buena Park, Costa Mesa, Fullerton, Garden Grove, Huntington Beach, Irvine, Mission Viejo, Orange, and Santa Ana.
Chapter 7 bankruptcies filed by residents of Riverside County and San Bernardino County are filed in the Riverside Bankruptcy Courthouse. Data from that court points to the following ten cities as having the highest number of Chapter 7 bankruptcies for residents of those counties for October 2009:
Corona, Fontana, Hemet, Hesperia, Moreno Valley, Murrieta, Ontario, Rancho Cucamonga, Riverside, and San Bernardino.
Future posts will examine trends in all three counties to see what cities in Orange County and the Inland Empire are experiencing the highest rates of Chapter 7 bankruptcy filings in those respective counties.
Tags: Anaheim, bankruptcy attorneys, Buena Park, Chapter 7 bankruptcy, Chapter 7 bankruptcy filings, Corona, Costa Mesa, Fontana, Fullerton, Garden Grove, Hemet, Hesperia, Huntington Beach, Irvine, Mission Viejo, Moreno Valley, Murrieta, October Chapter 7 Bankruptcy Filings, Ontario, Orange, Orange County, Rancho Cucamonga, Riverside, Riverside County, San Bernardino, San Bernardino County, Santa Ana
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Tuesday, October 6th, 2009
The number of Orange County, Riverside County, and San Bernardino County residents filing for Chapter 7 bankruptcy has not slowed from August to September in 2009.
The ten Orange County cities with the highest number of Chapter 7 bankruptcies filed during September 2009, as reported in the Orange County Bankruptcies Blog, are as follows:
Anaheim, Costa Mesa, Fullerton, Garden Grove, Huntington Beach, Irvine, Lake Forest, Mission Viejo, Orange, and Santa Ana.
Chapter 7 bankruptcies filed by residents of Riverside County and San Bernardino County are filed in the Riverside Bankruptcy Courthouse. Data from that court, according to the Riverside Bankruptcy Blog, reports the following ten cities as having the highest number of Chapter 7 bankruptcies for residents of those counties:
Corona, Fontana, Moreno Valley, Murrieta, Ontario, Rancho Cucamonga, Riverside, San Bernardino, Temecula, and Victorville.
Orange County Chapter 7 bankruptcy attorneys and bankruptcy lawyers from cities in the Inland Empire are not only seeing a rise in the number of filings in the aforementioned cities, but in smaller cities within each county as well. For every Anaheim there is a Laguna Niguel, for every Riverside there is a Colton. Bankruptcy filings for both consumers and small businesses in these counties continues to be widespread.
Tags: Anaheim, bankruptcy filings September, bankruptcy lawyers, Chapter 7 bankruptcy, Colton, Corona, Costa Mesa, Fontana, Fullerton, Garden Grove, Huntington Beach, Irvine, Laguna Niguel, Lake Forest, Mission Viejo, Moreno Valley, Murrieta, Ontario, Orange, Orange County, Orange County Bankruptcy Blog, Rancho Cucamonga, Riverside, Riverside Bankruptcy Courthouse, Riverside County, San Bernardino, San Bernardino County, Santa Ana, Temecula, Victorville
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Wednesday, July 1st, 2009
The United States Supreme Court has granted certiorari in the bankruptcy case of Schwab v. Reilly. In hearing Reilly, the Court will be called upon to reexamine precedent established in Taylor v. Freeland & Kronz, a bankruptcy law case decided 12 years ago that requires bankruptcy trustees to object to an exemption claimed by the chapter 7 debtor within 30 days after the meeting of creditors; if no challenge is made, the exemption will stand, regardless of whether it is founded in law or not.
Since Taylor, bankruptcy trustees have had difficulties ascertaining when it is appropriate to object to exemptions chosen by debtors when those exemptions are not obviously limited to the amount allowable in the statutory exemption. The pertinent question that the trustees need to answer is whether the debtor is attempting to exempt the entire property listed, or is merely trying to exempt the property’s maximum cash value permissible under the statute. The issue before the Court now, in Reilly, should help clarify matters for trustees, and will hopefully set clear guidelines to help them determine what kind of exemptions are being sought by debtors, and when it is necessary for them to object.
Tags: bankruptcy, Bankruptcy law, bankruptcy trustees, Chapter 7 bankruptcy, exemptions, Supreme Court
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Monday, June 29th, 2009
As reported in the Los Angeles Times yesterday, southern California has seen a dramatic increase in the number of consumer bankruptcy filings of late. The article referenced the mortgage crisis as the culprit, while also highlighting the fact that changes to the Bankruptcy Code in the Bankruptcy Bill of 2005 have seemingly failed to reduce the number of bankruptcies these last few years.
Although the article emphasizes the increase in the greater Los Angeles area, bankruptcies in Orange County, Riverside County, and San Bernardino County have also risen dramatically in the past year, flooding bankruptcy attorneys in southern California with inquiries from debtors about whether they qualify for Chapter 7 bankruptcy, or whether they must resort to Chapter 13 of the Bankruptcy Code for relief.To read the LA Times article, click here
Tags: bankruptcy attorneys, Bankruptcy Bill, bankruptcy code, Chapter 13, Chapter 7 bankruptcy, mortgage crisis, Orange County, Riverside County, San Bernardino County
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