California Bankruptcy Attorneys - FAQs

Filing for bankruptcy in California is a big decision and it’s normal to have questions about the process and about whether or not filing for bankruptcy is the right decision for you. Our firm has compiled a list of the most frequently asked questions we receive about California bankruptcy on a regular basis. We hope that you find these answers useful in your search for more knowledge about filing for bankruptcy in California. If you have questions that aren’t answered here, don’t worry – you can still contact our office and schedule a free case evaluation to have your questions answered by one of our skilled attorneys.

Q. I’ve heard that you have to take a credit counseling course in order to file for California bankruptcy. Is this true?

A. Yes. The new bankruptcy laws now require that an individual or couple filing for personal bankruptcy must attend an approved credit counseling class within 180 days of their bankruptcy filing. You will have to have a certificate of completion, and if there is a repayment plan developed as a part of the credit counseling course, you have to file it with the court, even if you plan on filing for Chapter 7.

Q. Will all of my possessions be sold if I file for California bankruptcy?

A. No – you will not lose all of your possessions if you file for bankruptcy. The law provides for bankruptcy exemptions, which is basically a way to ensure that everyone who files for bankruptcy can claim some property and possessions as exempt from the bankruptcy liquidation process. If you don’t own a lot of property or possessions, you may be able to keep all of your property and possessions while still filling for bankruptcy.

Q. I’ve just gotten a foreclosure notice. Is it too late to file for bankruptcy to save my home?

A. Not at all. Filing for bankruptcy will temporarily put a stop to the foreclosure process. Depending upon your particular situation, you may be able to save your home by negotiating with lenders during the California bankruptcy process, by having additional mortgage obligations such as a second or third mortgage removed, or simply through putting the money saved by a bankruptcy filing to work repaying your arrears. Each case is different, however, and we’ll need to speak with you before we can recommend a definite course of action.

Q. I’ve had a bankruptcy case dismissed in the past. Can I still file for bankruptcy, even if my previous case was dismissed by the court?

A. Yes you can. However, depending upon when the dismissal(s) occurred, you may want to wait until you’ll be able to take advantage of the automatic stay that bankruptcy provides. Generally speaking, if you’ve had one or more cases dismissed by the courts, you won’t qualify for the full protection of the automatic stay, and that could lead to your creditors filing lawsuits against you in order to recover as much as they can before your bankruptcy discharge is granted.

Q. If my spouse files for California bankruptcy, do I need to file as well?

A. That depends upon your particular situation. While you are not required to file for bankruptcy if your spouse does, you may want to do so in order to protect certain assets of your own. Depending upon whether or not you are a cosigner to the majority of the debt, you may not need to file for bankruptcy, even if your spouse needs the assistance. Talk to on of our reputable California Bankruptcy Attorneys and we’ll help you to decide which option is best for you.

We look forward to answering any other questions you may have about filing for bankruptcy, or the bankruptcy process in California – just contact our office and we’ll schedule a free, no-obligation case evaluation. This is your chance to have your questions answered by an expert in California Bankruptcy Law, so that you can be absolutely certain that you understand how bankruptcy works and what you can expect if you file. Contact us today – let one of our trained, reputable California Bankruptcy Attorneys help you to regain peace of mind and get your finances back on track.