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Frequently Asked Questions

 

 

 

What is bankruptcy?

Bankruptcy is designed to give debtors who owe more money than they can pay right now a financial fresh start from burdensome debts.

         


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Bankruptcy Basics

The primary purposes of the law of bankruptcy are to give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and to repay creditors in an orderly manner to the extent that the debtor has property available for payment.      


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Debt Counseling & Financial Education

Debt Counseling and Financial Education Providers

            


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1328 certificate

The completed Certificate must be filed with the Clerk of Court and served on the Trustee no later than 30 days after the date of the Notice to Debtor of Completed Plan Payments and of Obligation to File Documents.

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Liability On Community Debts After Divorce

Many times after a divorce, individuals find themselves in a situation where they are considering filing for bankruptcy.  This can be because of circumstances which occurred during the marriage, or, may arise because an individual finds that he or she is no longer able to keep up with payments on certain debts without the income of the other spouse.       
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The Protections Of The Automatic Stay In A Bankruptcy Proceeding

Perhaps the most important and fundamental feature of a bankruptcy filing is the “automatic stay” which is immediately effective upon filing a bankruptcy petition.  The automatic stay is triggered whether the bankruptcy filer is an individual or a business and whether the bankruptcy petition is voluntary or involuntary.   While generally the stay does not operate to protect co-debtors of the bankruptcy debtor such as a guarantor, endorser or co-maker, in a Chapter 13 bankruptcy, the stay even acts to protect a co-debtor who is liable with the debtor on a particular consumer debt.  The stay is automatic because it arises simply from the fact that a bankruptcy petition is filed – there is no need for a court order.    
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2013 California Bankruptcy Exemptions

Updated Bankruptcy Exemptions

The Bankruptcy Code allows each individual who files for bankruptcy to keep basic assets that are necessary for the debtor's “fresh start” after bankruptcy. That property is the debtor’s “exempt property.”


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