Consumer Bankruptcy Lawyers in Antioch, California

Antioch Consumer Bankruptcy Lawyers, CA

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Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is usually considered as an option of last resort, because while it can stave off financial disaster, it has some significant long-term consequences warranting careful consideration of the costs and benefits. Bankruptcy is governed by federal law, and proceeds in federal courts. So, the procedure for filing for bankruptcy in California will be very similar to the procedure anywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local attorney in Antioch, California before filing.

Chapter 7 Bankruptcy in Antioch, California

There are 2 common types of bankruptcy in Antioch, California. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 bankruptcy involves a liquidation of some of the debtor's assets, which pays off part of his or her debt. Once this is done, the remaining debt is discharged. Fortunately for debtors, many types of property are exempt from liquidation, including homes, vehicles, essential personal items, and retirement accounts.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is discharged. But some types of debt cannot be discharged through Chapter 7 bankruptcy. These include child support payments, student loans, and criminal fines, among others. If most of your Antioch, California debts are not dischargeable, you might want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Antioch, California

Chapter 13 Bankruptcy in Antioch, California is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each individual case. Chapter 13 does not discharge debt, but restructures it instead. Usually, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is usually manageable, as long as the debtor can make some sacrifices.

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Which Type of Consumer Bankruptcy Should I File in Antioch, California

Whether Chapter 7 or Chapter 13 is the right choice for you depends heavily on your individual situation. If you have a steady income stream, and a lot of non-exempt property, Chapter 13 might be right for you. If you don't have a steady income, and most of your property is exempt, Chapter 7 might be a better way to go.

Whatever your situation, you should speak with a local Antioch, California bankruptcy attorney. Your lawyer will be able to advise you of your options and their likely consequences, which will help you make a more educated decision.

108 Bankruptcy, Banking and Credit cases posted to LegalMatch lawyers in Antioch

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Life in Antioch

Antioch, California is a city of about 103,000 people. It is located in Contra Costa County, California, in the San Joaquin-Sacramento River Delta. It is considered a suburb of San Francisco and Oakland.

Antioch is one of the oldest towns in California. It was founded in 1850. A few years later, coal was discovered in some of the nearby hills, and coal mining became the first major industry in Antioch, California. 

Modernly, Antioch is a mostly-residential community, where many professionals who work in the larger cities nearby, such as San Francisco and Oakland, live. Its economy is based largely on retail, healthcare, and white-collar services, such as law offices and lawyers.

If you live in Antioch, California, and need legal advice, it's almost certain that there's an Antioch, California attorney who can help.

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