HOA Law Blog
Going legally broke has made a big comeback, especially in California, despite major revisions to the US bankruptcy code intended to curb filings. The number of Californians seeking bankruptcy protection is booming. The amount of personal bankruptcy filings rose 75% in 2009 (from the 2008 filings). With many Californians continuing to lose jobs or those unemployed failing to find jobs, we can only assume that bankruptcy filings will continue to increase through 2010.
The attorneys at SwedelsonGottlieb have prepared two articles regarding bankruptcy, one on the bankruptcy process and what you need to know, and another on bankruptcy stays – what they are and how they impact the assessment collection process. They are available for download here and here.