Consumer Bankruptcy Lawyers in Barstow, California

Barstow Consumer Bankruptcy Lawyers, CA

Find the Right Lawyer Now

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 Barstow, California before filing.

Chapter 7 Bankruptcy in Barstow, California

There are 2 common types of bankruptcy in Barstow, 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 Barstow, California debts are not dischargeable, you might want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Barstow, California

In Barstow, California, Chapter 13 is quite different from Chapter 7. Chapter 13 may or may not be the best choice for you; this depends on the facts of your particular situation. Chapter 13 Bankruptcy involves a court setting up a adjusted payment plan, which allows the debtor to pay off most or all of his debts over a longer period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

Find a Barstow Lawyer that Specializes in Your Area of Need:

Which Type of Consumer Bankruptcy Should I File in Barstow, 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.

Regardless of your situation, you should speak with an attorney in Barstow, California who is experienced in bankruptcy before making a decision. They will be able to advise you of your options, and the likely consequences of each one, allowing you to make a much more informed decision.

33 Bankruptcy, Banking and Credit cases posted to LegalMatch lawyers in Barstow

Consumer Bankruptcy Attorneys in the Largest CA Cities

Show California Cities

Consumer Bankruptcy Lawyers in Other California Cities and Towns


Find the Right Lawyer Now

Need a Bankruptcy Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: