Deducting Secured Payments on the Means Test for Collateral to Be Surrendered?

Written by: leonora  |  Published on: October 6th, 2009

If the debtor’s income is below the state median, the dreaded Means Test is “done.” However, if debtor’s gross income exceeds the median (gross income for the household size chosen is greater than the state median), the rest of the Means Test Form must be completed. Debtor can deduct things like mandatory deductions from gross income, income taxes and union dues. Debtor can also deduct secured payments to be made in the next 60 months. In other words, if debtor financed a car and there are 45 payments left. The 45 payments are added and divided by 60. The figure is then [...]

Foreclosure and Depression

Written by: leonora  |  Published on: August 25th, 2009

Today Washington Post had a story on the effects of foreclosures on mental health. To read the full article click: Unfortunately, this is a story too familiar to a bankruptcy attorney who has been practicing for more than a week. In fact, the very first client I met (while working at another firm) committed suicide.  He had a complicated case. His problems were compounded by the fact that by the time he dealt with his finances he has “borrowed” a large sum from an aging parent. I don’t presume to understand what he was going through. I met the [...]

Free and Secure Credit Report

Written by: leonora  |  Published on: July 22nd, 2009

It is important to periodically check your credit report to make sure it is accurate. While you will see a lot of advertising for a “free” report, you will often find that it requires you to sign up for their services, etc. Basically, buy this and we’ll give you YOUR report for “free.” What these sites don’t tell you is that you are entitled by law to a TRULY FREE annual report. Go to this site: If you need help disputing inaccuracies, feel free to contact our office at (213) 382-2926 for your free consultation.

Notice of Bankruptcy when lawsuit pending in State Court

Written by: leonora  |  Published on: July 17th, 2009

When you file for bankruptcy and you have a lawsuit pending in state court it is important to give notice of your bankruptcy in that state court. Use this form in the Los Angeles, CA state courts:

How does short-sale and deed in lieu influence my FICO score?

Written by: leonora  |  Published on: July 14th, 2009

Credit bureau reports are limited in how they represent foreclosures today, so it’s generally not possible to tell from the credit report if a reported foreclosure is a short sale, deed in lieu of foreclosure, settled account, regular foreclosure, or some other variation. The FICO® score treats all of these descriptions that appear on credit reports as serious delinquencies, so they have an impact on the score similar to the impact from a charge off, tax lien or account included in bankruptcy. Repost from There is a lot of misinformation out there. Please make sure that you are getting [...]

We help people file for bankruptcy, in addition to other legal services. As such, we are designated a debt relief agency by the U.S. Bankruptcy Code.This site is for general informational purposes only. Nothing on this site is legal advice. No attorney-client relationship is created until a written agreement is entered into and signed by you and Leonora Gorelik. Law Offices of Leonora Gorelik 3835 Hayvenhurst Ave. Encino, CA 91436