Bankruptcy In Oakland California [mortgageprotectiontips.blogspot.com]
www.ruehmannlawfirm.com Ruehmann Law Firm, PC 9580 OAK AVENUE PKWY STE 15 FOLSOM, CA 95630-1888 Telephone: 888 221 5355 FAX: 916-988-8002 E-mail: info@ruehmannlawfirm.com START YOUR BANKRUPTCY FOR 9 PAYMENT PLANS AVAILABLE SAVE YOUR HOME AND ELIMINATE YOUR 2ND MORTGAGE ...
mortgageprotectiontips.blogspot.com Bankruptcy Attorney in Folsom CA Speaks Out : Hire an Attorney To Fight the Banks
Stockton, California filed bankruptcy after talks with bondholders and labor unions failed, making the agricultural center the biggest U.S. city to seek court protection from creditors. Stockton, California, Seeks Bankruptcy After Talks Fail
After you have received federally mandated credit counseling -- which is a requirement for filing for personal bankruptcy -- you need to hire Oakland bankruptcy lawyers. If experienced and competent, Oakland bankruptcy lawyers will know both the federal and state bankruptcy laws that apply to your particular bankruptcy. They also know which exemptions you can use.
Generally speaking, there is a federal list of possible bankruptcy exemptions and then there is a list of possible bankruptcy exemptions particular to the state you live in. Some states allow you to choose exemptions from both lists, choose between the federal list and their own list, or have you choose only from their state list. The state of California has two lists of possible bankruptcy exemptions Oakland bankruptcy filers must choose between. They do not allow federal bankruptcy exemptions.
Your Oakland bankruptcy lawyers will know which list of California bankruptcy exemptions will work best with your own bankruptcy case.
They will also know what kind of personal bankruptcy case you should be filing for. Your options include chapter 7 personal bankruptcy and chapter 13 personal bankruptcy.Chapter 11 bankruptcy and chapter 12 bankruptcy also exist. However, chapter 11 is for farmers and chapter 12 is for businesses so you need not concern yourself with either of them. Either chapter 7 or chapter 13 will work with your case.
Chapter 7 is straight bankruptcy in which a court appointed trustee helps you liquidate nonexempt personal property to help pay back your creditors. Chapter 13 reorganizes your debts into a three to five year repayment plan. At any point during your bankruptcy, so long as you are eligible for both and have not already switched once before, you can switched between them.
Both kinds of personal bankruptcy has their advantages and disadvantages.
Your Oakland bankruptcy lawyers will know best which to utilize. Suggest Bankruptcy In Oakland California ArticlesQuestion by Silver Cyborg: How long does it take to declare bankruptcy in California? Can it be done by yourself ? Curious, how long will it take from start to finish for a bankruptcy in California? Can it be done without an attorney (So done just by ones self) ? And what is the first step to getting a bankruptcy, very interested thanks. Best answer for How long does it take to declare bankruptcy in California? Can it be done by yourself ?:
Answer by Pojo
The first thing is find a BK attorney as only a fool would take it on by themselves. They will be able to tell you the time line in Ca. and so on. If it is money many take payments just call around and find one who will.
Answer by andy
With the new bankruptcy laws I would never try this on your own. When I filled under the old rules the likely hood of a self filer to do it right was somewhere around 10% and the other 90% had to get a lawyer in the end and it took a lot longer like a year instead of six months.
Answer by Kate K
NEVER do it by yourself. There are too many legalities. Remember, bankruptcy can really ruin your credit. How much debt are you into? Cause there are possibilities to resolve your situation. I actually was in serious debt about a year ago and almost declared bankruptcy, however, most of my debt was unsecured (credit cards, etc) and strict bankruptcy laws wouldnt eliminate them. I opted for debt settlement and it was the way to go. I am on a program where i have a company/lawyers trying to negotiate my debt down. I had two credit cards totalling $ 36,000.0 0 and one has just settled for 37% of the balance. I paid off that one and now were working to settle with the other. Once i pay that one off, my credit will begin rebuilding. I do have to say though, that the debt settlement companies made a bunch of money off of me. My ex is going though the same thing, but he found some useful info on a website and may not even have to go through a settlement company. Might be worth it to check it out. Good luck
