California Bankruptcy

California bankruptcy codes are very complex and difficult to understand. Most people who are considering filing bankruptcy in California are often confused between the different types of bankruptcy.

There are four types of bankruptcy cases available under California law: Chapter 7 bankruptcy is the most common type and it is known as “straight” bankruptcy or “liquidation.” It requires a debtor to give up property which exceeds certain limits called “exemptions”, so the property can be sold to pay creditors.

This type of bankruptcy allows people to have a fresh start by liquidating all debts. Chapter seven bankruptcy will appear on a person's credit profile as a "public record" and remain there for 10 years. 

individuals. This type of bankruptcy allows someone to negotiate the debt with creditors to allow better terms for full payment. Chapter 13 bankruptcy will remain in a self-employedChapter 13 is called “debt adjustment” and is most common for small business owners or persons credit profile for 10 years as public records. 

Filing Bankruptcy is a very effective debt relief device that stops all creditor calls, collections efforts, collection threats, wage, and paycheck garnishment, repossession of your car or other personal property, postpones or stops foreclosure on your home, and eliminates all or most of your debts and gives you a fresh start. You will be in a position to afford your expenses and rebuild your life.

Maybe Bankruptcy Isn't Your Best Option

Bankruptcy is not appropriate for everyone. Our goal is not to convince you to file for bankruptcy but rather explain your legal options and refer you to a pre-screened local bankruptcy lawyer who can assist you. We will take the time to explain to you all your options and help you find the best option that suits your needs.

We are open 24 hours a day, simply submit your case details online and you will get an immediate response within 10 minutes after receiving your request.

Filing for bankruptcy will relieve the mental and emotional stress you are going through, stop your wage garnishments and the hassles associated with debts collectors.

Filing For Bankruptcy in California

The moment you file for bankruptcy, the credit collection agencies must cease hassling you immediately and deal with with your bankruptcy attorney. Rather than worrying day after day at home or work, connect with an experienced and ethical bankruptcy lawyer in Los Angeles so he or she can better guide you through the process of filing for bankruptcy.

An experienced bankruptcy lawyer will analyze your particular situation and advise you on the best options available under bankruptcy law.

The relief when you file for bankruptcy in California is felt immediately. 

Chapter 13 Bankruptcy May Be a Good Option 

For people who are earning a steady income, Chapter 13 is an option because it allows a person to come up with a plan to repay a portion of the debts that are owed and receive a complete discharge of the debts. You may also be able to keep your house, car and other assets. In order to decide which option is right for you, you will need to connect with a local bankruptcy lawyer.

Filing for bankruptcy is not something that we recommend you try to do on your own. You will need a lot of paperwork in order to cover all your debt during the filing process. Your bankruptcy attorney will help you itemize your debts and your income and provide all of the financial transactions that you have taken part in during the last two years. 

You will need income tax statements, car titles, and a lot of other financial information. You will have to follow the guidelines that the state has set out regarding your exemptions and adhere to the schedule that is designed for you.