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Expert: Mark J. Markus- California Bankruptcy Attorney - 7/10/2009


Question
I live in AZ and am considering Chapter 7 after my divorce is final.(Augustt) I have CC debt and investment properties that have lost 40% of their value. I have just stopped paying everything except for my condo.

Is there a waiting period  required or a best time frame to wait before filing after a divorce?

Will I have to provide my x-spouses separate bank accounts to the trustee for the past 6 months before filing Ch7?

Any recommendations on the best way to move forward is appreciated.

Thank you,
Vincent  

Answer
Once the divorce is final, it's final, so you're as "after" as you need to be as far as that goes.  There may be issues with any property transferred as part of the divorce, as any such transfers made within 2 years prior to filing must be listed on the bankruptcy papers and may be subject to recovery by the Trustee.  Generally Trustees don't ask for bank account statements.

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Mark J. Markus- California Bankruptcy Attorney

Expertise

Mark J. Markus is a Los Angeles bankruptcy attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.

Experience

Visit our California bankruptcy webpage at http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on

  • Which Chapter to File,
  • business bankruptcy,
  • chapter 7 bankruptcy,
  • chapter 11 bankruptcy,
  • chapter 13 bankruptcy,
  • Do You Need a Lawyer to File Bankruptcy?
  • Frequently Asked Bankruptcy Questions

    Also visit our Los Angeles bankruptcy blog for interesting articles and much more.



    Organizations
    Central District Consumer Bankruptcy Attorneys Association (CDCBAA) Los Angeles County Bar Association (LACBA) Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association Financial Lawyers Conference (FLC) National Association of Consumer Bankruptcy Attorneys (NACBA) Los Angeles Bankruptcy Forum (LABF) American Bankruptcy Institute (ABI) San Fernando Valley Bar Association (SFVBA)

    Publications
    Central District Consumer Bankruptcy Attorneys Association Newsletter September 2007 (Vol. 1, Issue 2)

    Education/Credentials
    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

    Awards and Honors
    AV Rated by Martindale-Hubbell (http://www.martindale.com) A+ Rated by Better Business Bureau

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