Consumer Bankruptcy Lawyers in Lemon Grove, California

Lemon Grove 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 normally considered as an option of last resort, because while it can stave off financial disaster, it has some considerable long-term consequences warranting careful consideration of the costs and benefits. Bankruptcy is a creation of federal law, and goes through federal courts. Therefore, the procedure governing bankruptcy in California will be roughly the same as it is anywhere else in the U.S. But individual courts have different rules for what property is exempt, so you should consult a local Lemon Grove, California before you file.

Chapter 7 Bankruptcy in Lemon Grove, California

There are 2 main forms of consumer bankruptcy in Lemon Grove, California: Chapter 7 and 13. Chapter 7 requires that a certain percentage of the debtor's property be liquidated to pay off at least a small part of their debt. However, many types of property are exempt, and do not need to be liquidated, such as cars, homes, insurance policies, and retirement accounts.

Once the non-exempt property is sold, the rest of the dischargeable debt is eliminated. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Lemon Grove, California is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Lemon Grove, California

Chapter 13 Bankruptcy in Lemon Grove, California is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each particular case. Chapter 13 bankruptcy does not discharge debt. Instead, it restructures it. This involves the bankruptcy court coming up with a new payment plan that supersedes the terms of the contracts that gave rise to the debt in the first place. This results in a altered payment plan that the debtor should find manageable, if he or she can make a few sacrifices.

Find a Lemon Grove Lawyer that Specializes in Your Area of Need:

Which Type of Consumer Bankruptcy Should I File in Lemon Grove, California

Chapter 13 is normally a good option for people who have a steady income, and a large amount of non-exempt property that they can't part with. On the other hand, if most of the debtor's property is exempt, and he or she does not have a steady income, Chapter 7 might be more beneficial.

In any case, you should talk with a local Lemon Grove, California bankruptcy attorney. Your attorney can advise you of your options and inform you of their likely outcome. This will make it much easier for your to make an informed choice.

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

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Bankruptcy, Banking and Credit Lawyer
LegalMatch Bankruptcy, Banking and Credit Lawyer T. Hall B.

T. Hall B.

San Diego, CA

Bankruptcy, Banking and Credit

Rating (6 users) ****
See Reviews
Bankruptcy, Banking and Credit Lawyer
LegalMatch Bankruptcy, Banking and Credit Lawyer Veronica A.

Veronica A.

San Diego, CA

Bankruptcy, Banking and Credit

Rating (3 users) ****
See Reviews
Bankruptcy, Banking and Credit Lawyer
LegalMatch Bankruptcy, Banking and Credit Lawyer Therese H.

Therese H.

Los Angeles West, CA

Bankruptcy, Banking and Credit

Rating (3 users) *****
See Reviews
Bankruptcy, Banking and Credit Lawyer
LegalMatch Bankruptcy, Banking and Credit Lawyer Roland T.

Roland T.

Orange, CA

Bankruptcy, Banking and Credit

Rating (1 users) ****
See Reviews

Need a Bankruptcy Lawyer?

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