Learn about:

You’ve come to the right place to explore how to file bankruptcy in California. We can explain why it’s not a one-size-fits-all type of solution, understand which approach may be best for you, and even help you explore bankruptcy alternatives. In our experience, just understanding your options will help ease your stress.

There’s a positive way to approach bankruptcy, and we want you to know about it. We can also explain other bankruptcy alternatives, methods for avoiding foreclosure of your home, and even ways to just buy some time.

You may likely be in the toughest stage of your life right now. With more debt than you ever imagined, and no way to realistically pay it off, you may find yourself in this situation for many reasons:

• Medical bills

• Layoffs

• Risky investments that didn’t pay off

• IRS debts (Don’t apply for “Offer & Compromise” with IRS before consulting us!)

• Dropping home values, negative equity, and potential foreclosure

• A court judgment or wage garnishment

• Outrageous credit card fees and penalties

• Business failure

• Hidden debts by your spouse

• Divorce

• High interest Credit Card Debts

There’s only one thing you need to know: regardless of what contributed to your financial problems, bankruptcy is a legal way to get back on your feet. It’s one of the few laws remaining in force designed to help consumers, not financial institutions.

-back to top-

New Bankruptcy Laws

On April 20, 2005, President Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), which instituted substantial changes to the Bankruptcy Code. Amongst many requirements, the new code requires a Means Test, Credit Counseling, and Financial Management Certificates to be completed before a discharge of debts can be ordered by the Court. Satisfaction of the Means Test can be a very complex and the most important part of your case. Only an experienced Bankruptcy attorney can provide you with all of the answers that you need.

Since the creation of new bankruptcy laws in 2005, it’s more important than ever to consult with an attorney who deals exclusively with filing bankruptcy cases. Banks used their powerful lobby to include numerous provisions in the new laws that could undermine your ability to file bankruptcy in California, and also limit what debt can be eliminated. It’s no longer a simple matter of just filing some forms. The good news is that most people can still be eligible to file for bankruptcy protection without losing their business, home, autos, cash, 401k, and many other assets.

We have helped over a thousand clients either file bankruptcy in California, or avoid bankruptcy altogether, resulting in the discharge of Millions of dollars in debt. Our experience means we can help you assess factors that could affect your bankruptcy filing or prevent you from quickly getting your life back in order. These include:

• Property you have recently given away;

• Large credit card purchases or advances in the prior 6 months;

• Balance transfers onto newly opened credit cards;

• Exaggerated earnings on past credit applications.

During the time you spend with us our goal is to give you peace of mind – and there is no obligation to engage our services. You’ll immediately understand why any fees you might pay us will be far less than allowing debt to keep accumulating. And we work with you to come up with a payment plan that you can afford.

Contact our bankruptcy attorney for a free consultation.

-back to top-

Our Simple 4-step Process

1. Free consultation. Take advantage of our no-cost consultation to discuss your situation and seek advice. If bankruptcy is not your best option, we’ll be the first to tell you and suggest helpful alternatives.
   

2. Know your options. We help you understand in plain terms what your choices are, and the benefits of each. Don’t spend hours or days reading through websites and confusing materials – we explain what applies and what doesn’t in your specific situation.
   

3. Same day filing. When you’re ready, we file your case electronically. You gain instant protection from creditors, and you are on your way to relieving the stress caused by too much debt.
   

4. We handle the rest! We easily guide you through any steps you need to take. We even handle your bill collectors! It’s illegal for creditors to harass you once your case is filed, so refer them to your attorney and we’ll put a stop to it!

Dealing with debt is difficult. That’s why we make the bankruptcy process as easy as possible. Contact the Nader Law Firm today for a free consultation and discover how quickly you can get your life back on track!

-back to top-

Chapter 7 or Chapter 13?

The two main types of personal bankruptcy are named for the section or ‘chapter’ in the law that created them.

Chapter 7 Bankruptcy is the most common filing, and may be referred to as a “personal bankruptcy” or “liquidation bankruptcy”. Chapter 7 bankruptcy permanently wipes out all of your qualifying debts, and no repayment is required. This typically includes unsecured debts such as credit card balances, unpaid medical bills, law suits, judgments, balances that remain after an asset has been repossessed (such as a car), and other debts.

Chapter 13 Bankruptcy is a form of debt reorganization, developed to give (non-incorporated) consumers with regular income more time to pay off their debts and keep their assets (such as a home or car). Chapter 13 results in an approved payment plan over 36-60 months, usually with much lower total monthly payments.

Best of all, when the period of the Chapter 13 payment plan is finished, any unpaid debt is completely eliminated. This can result in your paying only pennies on the dollar of your total outstanding debt, yet it completely halts the collection efforts of creditors from the moment you file.

Chapter 13 bankruptcy may allow you to discharge debts that would not be allowable under other chapters, such as:

• Junior liens on real property, when the market value has fallen below the amount still owed.

• Marital dissolution equalization payments.

• Debts incurred by injury to another person or their property.

Why wait? Call our bankruptcy attorney today for a free consultation on how to file bankruptcy in California.

-back to top-

Planning to Divorce?

Even if you are experiencing relationship problems and will seek a divorce – contact us. We can show you why couples with community assets and joint debt find that the best and last thing they can do together is to file bankruptcy before divorcing.