Recent Blog Posts

Los Angeles Dodgers Sold to Finalize Bankruptcy Reorganization

Murrieta Bankruptcy Attorney — Sun, 22 Apr 2012 19:00:00 GMT

Last week, a bankruptcy court approved the sale of the Los Angeles Dodgers for $2 billion. This sale marks the end of their Chapter 11 reorganization process, which began in the summer of 2011. Frank McCourt, the former owner of the team, was allegedly deemed no longer competent to manage the financial affairs of the Dodgers. Because of this, Major League Baseball took over the Los Angeles Dodgers on April 20, 2011. Though the team was in a tough spot financially, a television contract offer was rejected in June; right after the contract fell through, the Dodgers filed for bankruptcy. The $2 billion price tag marks the highest price ever paid for a North American sports team and is likely higher than the actual current worth of the franchise.

Financial troubles do not have to signal the end of the world. As the Los Angeles Dodgers show, reorganization and emergence from bankruptcy is possible. If you or someone you love is considering filing for bankruptcy, it is important to talk to an experienced bankruptcy lawyer from our firm as soon as possible. Our attorneys have extensive knowledge of California bankruptcy law, and we will do everything in our power to make sure you receive the personalized legal attention you deserve. At Singleton Smith Law Offices, you are much more than just another number or client. A skilled Murrieta bankruptcy attorney will help you through each step of the process to ensure you never have to navigate bankruptcy law alone. Do not put off your peace of mind any longer. Contact a Murrieta bankruptcy lawyer at our firm today to find out how we can help with your situation.

California Town on the Verge of Bankruptcy

Murrieta Bankruptcy Attorney — Tue, 17 Apr 2012 22:27:00 GMT

People and cities alike financially overcommitted themselves during the first decade of the second millennium. Certainly all seemed well in the central California city of Stockton, where city managers continued to spend millions to enhance Stockton's image and attract new residents. Unfortunately, as most such stories go, this unsustainable spending came to a screeching halt with the housing bust. Now Stockton's image is one of rampant foreclosures, skyrocketing crime, and widespread unemployment. With the second-highest foreclosure rate in the entire nation, Stockton is facing almost certain bankruptcy. A new state law enacted less than two months ago requires that, before filing for bankruptcy, local government agencies must go through mediation or hold a public hearing and declare a fiscal emergency. Local residents have little confidence in the city's ability to bounce back from a multi-year, multi-million dollar deficit.

Making the decision to file for bankruptcy is never an easy one. At Singleton Smith Law Offices, we understand that you may be anxious and uncertain about your future should you choose to declare bankruptcy. If you are facing insurmountable debt and find yourself unable to pay your creditors, bankruptcy may be an option. It is important that you talk to an experienced Murrieta bankruptcy lawyer from our firm who can take a look at your individual situation and advise on whether or not bankruptcy is the route you should take. There are alternatives to help you get back on your feet financially, and a knowledgeable bankruptcy attorney can guide you through the best process for your particular case. Our legal team has the know-how and commitment to take on a variety of bankruptcy situations. When you contact a Murrieta bankruptcy attorney, you can feel confident that a professional will be by your side each step of the way.

Giving Items Away or Transferring Assets

Diane Singleton — Fri, 10 Sep 2010 03:15:00 GMT

Clients often ask if they can quit claim (many of you will call it quick claim which is a common mistake) the title of their house. Can they give away their car or other assets to a relative to protect it during the bankruptcy. The answer is no. Under the Bankruptcy Code, giving away assets before or during the bankruptcy may be considered a fraudulent transfer. This means the bankruptcy trustee can object to your discharge and prevent you from ever getting a discharge on those debts listed in your bankruptcy. In short, you have to pay back all of your debt and you get no bankruptcy relief. On top of that, the trustee may file a lawsuit requiring you to pay the trustee for the value of the item. Schedule a free consult with one of our Murrieta bankruptcy attorneys in order to determine the best plan of action before you file for bankruptcy and before you give items away.

Welcome to our Murrieta Bankruptcy Blog

Murrieta Bankruptcy Attorney — Tue, 31 Aug 2010 21:12:00 GMT

We are pleased to announce the launch of our Murrieta bankruptcy blog.