Creditors Can Recover Money Owed in Bankruptcy

October 10, 2010

U.S. bankruptcies are on the rise nationwide.  In fact, U.S. consumer bankruptcies could top 1.6 million this year.  The most common reasons for filing personal bankruptcy are bad mortgage debt, credit card debt, medical bills and divorce.

All these bankruptcy filings are affecting not just the people filing bankruptcy, but also their creditors.

While most people who declare bankruptcy do so as an absolute last resort, sometimes the debtor has regular income or valuable assets that could be used to pay off a portion of the debts.

If you are owed money by someone who declared bankruptcy recently, it does not mean you have no chance of recovering on the debt.  You still have options for pursuing money owed to you.

Here are the steps you should follow if you are a creditor and someone who owes you money has declared bankruptcy. Read the rest of this entry »


Announcing New $225 Flat Fee Educational Consultation with an Attorney Regarding Your Foreclosure, Short Sale, and Bankruptcy Options

July 19, 2010

Are you facing a foreclosure? Considering bankruptcy or a short sale?

If that sounds like you, you should obtain legal advice regarding your individual options.  In order to help homeowners and individuals who are experiencing financial difficulties with the loss of a job or a pending foreclosure, Plastiras & Terrizzi is announcing a new discounted rate one-time consultation with an attorney to answer questions, evaluate options, and strategize a unique approach tailored to your personal situation.

While the consultation will focus on your concerns and questions, your meeting may include any of the following topics:

The consultation with an attorney from Plastiras & Terrizzi will include a one-time, 45-minute meeting either in person or via phone for a $275 $225 flat fee.*

In order to be sure the consultation is as productive as possible, please bring with you copies of all relevant documents and correspondence between you and all of your mortgage lenders, or send copies to our office prior to the meeting if doing the consultation by phone.

While we encourage loan modifications when feasible, our firm does not handle negotiations with creditors or mortgage lenders. However, we often assist clients in determining whether or not such loan modifications are likely to be successful.

To set up an appointment, call us today:

Attorneys At Law
24 Professional Center Parkway, Suite 150
San Rafael, CA 94903
Phone: (415) 472-8100
FAX: (415) 472-8110

*  This information may be considered advertising in some jurisdictions under applicable laws and ethical rules. The material above has been prepared by Plastiras & Terrizzi. The material is for informational purposes only and does not constitute legal advice.  Plastiras & Terrizzi does not perform loan modification services or other loan forbearance services for residential real estate or collect advance fees for helping negotiate residential loan modifications.


Former NBA Star Chris Webber Sued by Landlord for Unpaid Rent on Sacramento Restaurant

March 2, 2010

Former five-time NBA All-Star Chris Webber, who played for the Golden State Warriors and Sacramento Kings, has become the latest victim of the economic downturn with the closing of his Sacramento-area restaurant.

Webber was sued Feb. 23 by his former landlord, the Promenade at Sacramento Gateway Shopping Center, for $1.8 million under the terms of the 20-year lease signed by Webber and his business partners.

Read the rest of this entry »


5 Steps to Take When Considering Bankruptcy

October 8, 2009

It’s not often a fast food restaurant closes, much less files for bankruptcy protection. But that’s exactly what happened recently when the owner of 70 Jack In the Box fast food restaurants throughout northern and Central California suddenly shut down all his stores.

Abe Alizadeh of Kobra Associates Inc., who owns and operates the restaurants, suddenly closed all 70 of his restaurants in mid-September when his negotiations with his debtors broke down and he had to file bankruptcy.

Sadly, this story has been more of a common occurrence during the past year, with numerous businesses and individuals going through bankruptcy. It wasn’t so long ago, however, that it seemed Congress had high hopes of dramatically decreasing the number of bankruptcy filings.

When Congress did a major revamp of the bankruptcy law in 2005, the goal was to decrease the number of bankruptcies each year by making it more difficult for people to file bankruptcy. A secondary goal was to force more people to repay their debts over time through a Chapter 13 plan rather than liquidating their debts through Chapter 7. Read the rest of this entry »