Law Office of Rick Chaidez - Bankruptcy Solutions Serving Ventura and Oxnard

Rick Chaidez - Bankruptcy Attorney

We can’t be sure if these are the best of times or the worst of times, but recently most assuredly these are bankruptcy word/term times. People who file bankruptcy are generally from the middle class. The most common causes for the need to file bankruptcy are clearly the loss of job, divorce and loss of health. However, recently we have seen General Motors, Chrysler, Washington Mutual and Lehman Brothers file some pretty spectacular bankruptcy paperwork.

In the archives of the Bankruptcy Court you could find names like Abe Lincoln, Henry Ford and Walt Disney. More recently, Larry King, Kim Basinger, MC Hammer, Willie Nelson, Bernie Kosar, Tom Petty, Lenny Dykstra and Michael Vick have all utilized the protections available through the Bankruptcy Court.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was signed into law on April 20th 2005.The BAPCPA made severe and demanding changes; the most significant of which is the requirement of Means Testing. These dramatic changes to the Bankruptcy Code were the most significant changes in bankruptcy law since the Bankruptcy Code became law. Special interests groups i.e. the credit card, banking and lending industries spent untold million$ of dollars making sure that this legislation got passed.

The message I want to NOW convey is that in spite of it all…BANKRUPTCY IS NOT DEAD!!! It is more demanding and more complex (your creditors can now demand to see your tax returns) BUT most assuredly bankruptcy is still DOABLE!

Like most areas of law, and like most professions, industries, or fields of interest bankruptcy has its own LINGO – (specialized terms and definitions). Our dictionary is intended to assist you with some basic foundational understanding so that you might better be able to read and understand our website or wherever else you might go for bankruptcy information. Of course, after browsing through our website if you feel that we can possibly assist you, please contact us at your convenience. RC

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