Copyright © 2022 Ed Magauran, Hawaii Bankruptcy Attorney.
All Rights Reserved.

Contact Us

Send us a message online.

808-585-1000

Call us for a Free Consultation

Search Menu
Free Consultation
logo
Free Consultation
mobile logo
12 June
0 Comments
Sticky

The Automatic Stay Stops All Collections

Posted by Ed Magauran
in RECENT ARTICLES

The automatic stay is a fundamental protection afforded to debtors upon filing for bankruptcy. It serves as a powerful shield, providing the debtor with immediate relief and several key benefits. Here's how the automatic stay protects a debtor in bankruptcy: 1. Halts creditor actions: The automatic stay immediately stops most collection actions and legal proceedings against the debtor or the debtor's property. This includes actions such as lawsuits, foreclosures, repossessions, garnishments, and creditor harassment. The stay ensures that creditors cannot continue their collection efforts or take any further legal action without permission from the bankruptcy court. 2. Provides breathing room: By imposing...

Continue reading
06 June
0 Comments
Sticky

What is the Bankruptcy Means test

Posted by Ed Magauran
in RECENT ARTICLES

The means test is an important component of the bankruptcy process. Its primary function is to determine whether an individual or household has sufficient financial means to repay their debts, specifically in the context of Chapter 7 bankruptcy. Chapter 7 bankruptcy is a type of bankruptcy that allows individuals or businesses to discharge their eligible debts and obtain a fresh financial start. However, not everyone qualifies for Chapter 7 bankruptcy, as there are income limitations in place to prevent abuse of the system. The means test helps determine eligibility for Chapter 7 bankruptcy by assessing the debtor's income and comparing it to...

Continue reading
01 August
0 Comments
Sticky

What Is A Hawaii Bankruptcy Estate?

Posted by Ed Magauran
in RECENT ARTICLES

A bankruptcy estate includes all of your assets and debts at the moment you file a bankruptcy.  It can also include things you disposed of prior to the bankruptcy. You provide the Court with a list assets and debts.   We exempt most or all of your assets.  Exempt assets are yours and are not taken. Exemptions are key If you are in a Chapter 7 the exempted asset is abandoned back to you at the conclusion of the case unless the trustee sees equity in it that is non exempt and he liquidates it to pay your creditors on a pro rata...

Continue reading
01 July
0 Comments
Sticky

What Happens In A Chapter 7 Bankruptcy Meeting Of Creditors?

Posted by Ed Magauran
in RECENT ARTICLES

After filing a bankruptcy the Court sets the date for the metting of creditors.  This Bankruptcy meeting is scheduled between 30-45 days after. A notice of the meetig is sent you and to all of the creditors. They or their counsel can ask you questions about the nature and validity of the debts at the meeting. The Trustee swears you in and asks a series of questions to  confirm all of the information provided in the bankruptcy petition.  These questions include that you listed all of your assets, debts,  income,  and expenses.  In some cases the trustee will hold the...

Continue reading
01 June
0 Comments
Sticky

Can I Keep My Car in Bankruptcy?

Posted by Ed Magauran
in RECENT ARTICLES

We discuss this question every day. Next to our homes, our cars are our most precious material asset. We need them. I need my car The fear of car loss is enough to keep some people from even inquiring about the possibility of filing bankruptcy. In most cases, you keep your car - even multiple cars - in bankruptcy while getting rid of the other debts you don't want. The Bankruptcy Court knows you need your car The whole idea of the Bankruptcy Code is to provide a fresh start to the "honest but unfortunate debtor."  And the law and Court know that a...

Continue reading
01 April
0 Comments
Sticky

Bankruptcy Hawaii and Co-Signed Debt

Posted by Ed Magauran
in RECENT ARTICLES

Money regrets. Who doesn't have them? Among the poor and even among the rich, not to mention everyone in between, you'll find that each person has more than a few. Some can be remedied. What does it mean When 2 or more people owe on the same debt they both owe 100% of the debt. Example Kimo and Kelli borrow $10,000 from Bank of Hawaii.  They both sign the contract.  The fiendly banker gives Kimo $1,000 and Kelli $9,000.  For some reason the debt isn't paid.  Bankoh sues Kimo and Kelli.  They both go to Court.  Kimo brings $1,000 and hands it to the...

Continue reading