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Bankruptcy Archives

Chapter 7 Bankruptcy and 341 Hearings

chapter-7-bankruptcy-hearing.jpgWhen you file a petition for Chapter 7 bankruptcy, you are disclosing personal and financial information to the bankruptcy court. In order to file for bankruptcy, the court needs to be aware of your debts, property, income and general state of your financial affairs. In turn, the bankruptcy court will appoint a bankruptcy trustee to oversee and administer your case. The trustee will essentially review your petition and verify that what you submitted was true and accurate using independent sources of verification.

Discharging Debt Under Chapter 13 Bankruptcy

discharging-debt-chapter-13.jpgIf you have incurred a substantial amount of unsecured debt related to credit cards and medical bills, Chapter 13 bankruptcy might be a perfect solution for you. Chapter 13 bankruptcy is only available to you so long as you are petitioning as an individual, or operate a self-employed, unincorporated business. Additionally, in order to qualify, your unsecured debts must not exceed $383,175 and your secured debts, such as home mortgages and automobile loans, must be less than $1,149,525.

Three Ways to Reduce Debt and Avoid Bankruptcy

reduce-debt-avoid-bankruptcy.jpgCalifornia has consistently been at the top of the list for states with the highest number of bankruptcies in the country. It was number one in 2011 reporting over 240,000 bankruptcies, according to Debt.org. For the millions of Individuals who face financial problems, there may be an opportunity to avoid bankruptcy.

When to Consider Company Reorganization under Chapter 11 Bankruptcy

chapter-11-bankruptcy-california.jpgFiling for bankruptcy is never something that a business wants to have to consider, but it can be a way for a company to reorganize and find a financial solution to work its way out of debt. The Department of Justice has researched trends in Chapter 11 bankruptcy filing and have seen numbers of filed cases exceed 3,000 over the past few years. However, this is a significant drop compared to the two decades previous.

Navigating Basic Differences between Chapter 7 and Chapter 13 Bankruptcy

chapter-7-13-bankruptcy.jpgNot all bankruptcy cases are the same. There are several factors involved when beginning the process. An attorney will evaluate information including your personal income, assets, ownership of property, and debt obligations. Based on your individual situation, there will be a recommendation and plan for how to proceed.

  • Santa Clara County Bar Association | 1917
  • American Inns of Court
  • CWL | California Woman Lawyers
  • Bay Area Bankruptcy | Forun
  • The State Bar of California
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