Law Office of Cecilia Chen

GDP and Bankruptcy Data for San Diego – Chapter 7

barry — Fri, 27 Apr 2012 21:56:58 +0000

The US Department of Commerce released Quarter 1 2012 GDP data and the American economy expanded by 2.2%. That number was in fact lower than what many economists predicted. When we take a closer look at some of the stats of the local economy we can also observe evidence of a recovery trend that’s slowly inching along. Below is a ...

GDP and Bankruptcy Data for San Diego – Chapter 7 from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

Expiration of the Mortgage Forgiveness Debt Relief Act

rhea — Sun, 15 Apr 2012 17:46:29 +0000

Under Federal law, a financial institution is required to file a Form 1099-C with the IRS whenever it cancels or forgives a loan balance. In California, the canceled debt is treated as “income” for tax purposes. This can lead to a financial disaster for homeowners considering foreclosure or short-sale. The Mortgage Forgiveness Debt relief Act of 2007 (the “Act”) provided ...

Expiration of the Mortgage Forgiveness Debt Relief Act from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

Things to consider when choosing a guardian to name in your will

rhea — Sun, 01 Apr 2012 15:16:41 +0000

One of the most important decisions you can make to protect the your precious assets–your children–is to have a current legal will. And one of the most important component of your will will be picking a guardian. Here are some important tips to consider when selecting an appropriate guardian. Remember, this person will be parenting your children in the event ...

Things to consider when choosing a guardian to name in your will from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

Consumer Bankruptcy Filings Continue Decline in San Diego

barry — Fri, 20 Jan 2012 22:34:01 +0000

Chapter 7 and Chapter 13 bankruptcy filings in San Diego MSA declined in the third quarter of 2011 for the second consecutive quarter. Two consecutive quarter declines in filing numbers hasn’t happened since 2006, or just after legislation changed surrounding bankruptcy filings in 2005. Despite the decline the numbers still hover around record highs set at the beginning of 2011. ...

Consumer Bankruptcy Filings Continue Decline in San Diego from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

Q3 2011 Chapter 13 Bankruptcy Claims in San Diego Down

barry — Thu, 19 Jan 2012 22:18:20 +0000

Official data for Chapter 13 bankruptcy claims for San Diego was released earlier this week and the results are generally positive. Q3 numbers were in fact down compared to Q2 Chapter 13 filings. This means that for the second consecutive quarter claims have declined. Total third quarter 2011 filings amounted to 4,247, a decline of 77 from quarter two. This ...

Q3 2011 Chapter 13 Bankruptcy Claims in San Diego Down from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

Chapter 7 San Diego Bankruptcy Claims 3rd Quarter 2011

barry — Wed, 18 Jan 2012 21:07:36 +0000

Official data for Chapter 7 bankruptcy claims in the San Diego area have arrived and there are more positives to glean from the results. For the second consecutive period Chapter 7 claims were down quarter over quarter. Total third quarter 2011 filings amounted to 16,726, a decline of 551 from quarter two. The percentage change in filings between Q2 and ...

Chapter 7 San Diego Bankruptcy Claims 3rd Quarter 2011 from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

Relief For Short Sale Transactions

barry — Mon, 28 Nov 2011 20:52:49 +0000

With the economy recovering slowly, and the fear of a double dip recession looming, good news is finally reaching San Diego homeowners with underwater properties either considering or going through short sale transactions. (Short sale transactions are a process which allows a homeowner to sell their property for an amount less than the full amount owed on their mortgage loans.) ...

Relief For Short Sale Transactions from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

5 mistakes to avoid prior to filing for bankruptcy

barry — Tue, 11 Oct 2011 16:02:44 +0000

If you’re faced with the possibility of filing for bankruptcy, there are a few simple yet important things you should avoid doing. 1. Use retirement proceeds to pay down credit card and other unsecured debts; 2. Transfer assets to family members; 3. Move out of the home you no longer wish to keep without finding out the legal and financial ...

5 mistakes to avoid prior to filing for bankruptcy from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

San Diego: Chapter 13 Bankruptcies Decline For First Time in Four Years

barry — Wed, 28 Sep 2011 15:00:48 +0000

Following the observed decrease in Chapter 7 bankruptcy claims, Chapter 13 claims in Quarter 2, 2011, for San Diego were down as well. This is the first decline quarter over quarter since 2006. Chapter 13 bankruptcy offers a debtor the chance to restructure their debts and catch up on areages and back taxes over a 3-5 year repayment period. In ...

San Diego: Chapter 13 Bankruptcies Decline For First Time in Four Years from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.

San Diego Chapter 7 Bankruptcy Claims Down For First Time in 4 Years

barry — Tue, 27 Sep 2011 15:07:16 +0000

We just reviewed the numbers for Chapter 7 bankruptcy claims in Quarter 2, 2011, for San Diego and the results are positive. Bankruptcy claims are in fact declining, albeit slowly and only marginally down from recent all-time highs. Take a look at this graph depicting total Chapters 7 claims since 2007. The bankruptcy glut seems to have crested. 17,277 claims ...

San Diego Chapter 7 Bankruptcy Claims Down For First Time in 4 Years from the Law Office of Cecilia Chen, providing legal services in San Diego in: bankruptcy, estate-planning, real-estate, and corporate law.