Alternatives to Chapter 7 Liquidation, Including Chapter 13 Bankruptcy in California

Chapter 7 bankruptcy in California, where a debtor’s assets are liquidated, should be considered a last resort, and should only be filed if all other options, such as Chapter 13 bankruptcy in California, have been explored and exhausted.

Common Alternatives to Chapter 7 Bankruptcy in California

	Debt Consolidation: it may be possible to avoid bankruptcy all together, as explained on our Debt Consolidation page.
	Chapter 13 Adjustment of Debts. An individual debtor (not a corporation) who has a regular income, can, and in many cases must, file a re-organization plan under Chapter 13. For more detailed information, see our Chapter 13 page.
	Chapter 11 Reorganization can be used by debtors engaged in business, including corporations, partnerships, and sole proprietorships.

Chapter 7 bankruptcy is a last resort. According to www.equifax.com, a bankruptcy can remain on your credit report for 10 years, which will impact your ability to obtain credit in the future.

Consult a California Bankruptcy Lawyer

You are encouraged to know your options, and discuss your situation with a California bankruptcy lawyer before making your decision to file Chapter 7 bankruptcy in California or Chapter 13 bankruptcy in California.