What is Personal Bankruptcy in California?

Personal bankruptcy in California is a way for people or businesses, who have more debts than they can handle, to either work out a plan to repay the money they owe over time, or to eliminate their debts entirely. The process is complex, and, therefore, we recommend getting help with filing bankruptcy in California from competent bankruptcy lawyers in California.

A plan to repay some or all of the money owed over a period of time is called either a Chapter 11 (for corporations), a Chapter 12 (for farmers) or a Chapter 13 (for individuals) plan. (The Chapter numbers are taken from the sections of the Bankruptcy Code that describe these procedures)

If payments cannot be paid over time, an individual or a corporation can file a bankruptcy under Chapter 7, where assets are liquidated and most debts are discharged.

As soon as the bankruptcy petition is stamped by the bankruptcy court, all creditors must stop collection efforts against the debtor, and you are immediately protected from your creditors.

Help With Filing Bankruptcy in California

The Clerk’s Office at your local bankruptcy court is prohibited by law from providing legal advice. Paralegals and typing services are also prohibited by law from providing legal advice. Only CA bankruptcy lawyers may provide legal advice.

Bankruptcy Lawyers in California

Please consult bankruptcy lawyers in California for help with filing bankruptcy in California and information on personal bankruptcy in California.