A California bankruptcy lawyer helps individuals and businesses address overwhelming debt through bankruptcy and related legal options. Attorneys may assist with Chapter 7 liquidation, Chapter 13 repayment plans, Chapter 11 business reorganization, creditor lawsuits, wage garnishment, foreclosure concerns, and protecting eligible property. The appropriate approach depends on income, assets, debts, and financial goals.
Consider speaking with a bankruptcy attorney when:
When choosing bankruptcy attorneys, consider the following factors:
What does a California bankruptcy lawyer do?
A bankruptcy lawyer reviews debts, income, assets, and financial circumstances to help determine whether bankruptcy is appropriate. Attorneys may prepare filings, explain exemptions, address creditor issues, and represent clients in bankruptcy proceedings.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 generally involves liquidation of nonexempt assets and discharge of qualifying debts. Chapter 13 involves a court-approved repayment plan, typically lasting three to five years, for eligible individuals with regular income.
Can I keep my house if I file for bankruptcy in California?
Possibly. The outcome depends on home equity, applicable exemptions, mortgage status, bankruptcy chapter, and other circumstances. Bankruptcy does not automatically guarantee that a home will be protected.
Does bankruptcy stop wage garnishment?
Filing bankruptcy generally triggers an automatic stay that can stop many wage garnishments. Exceptions and limitations apply, including certain support obligations and situations involving previous bankruptcy filings.
Does bankruptcy eliminate all debts?
No. Some debts, including domestic support obligations, many student loans, certain taxes, and criminal restitution, generally survive bankruptcy unless specific legal exceptions apply.
When should I contact a bankruptcy lawyer?
Consider legal advice when creditors are pursuing collection actions, foreclosure or repossession is threatened, debts are difficult to manage, or you need help understanding which bankruptcy chapter or alternative may be appropriate.