Consumer Bankruptcy Lawyers in Lindsay, California

Lindsay 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 typically considered as an option of last resort, because while it can stave off financial disaster, it has some substantial 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 Lindsay, California before you file.

Chapter 7 Bankruptcy in Lindsay, California

There are 2 typical forms of consumer bankruptcy in Lindsay, 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 absolved. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Lindsay, California is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Lindsay, California

Chapter 13 Bankruptcy in Lindsay, California is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each distinct case. Chapter 13 bankruptcy does not absolve debt, it restructures it. This involves a court coming up with a adjusted repayment plan designed to be manageable for the debtor. This new plan sets aside the terms of the original arrangements that created the debt in the first place. This creates a new payment structure, typically involving a single monthly payment, that the debtor should find manageable.

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

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

Chapter 13 is typically 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.

Of course, you should always seek the counsel of an experienced local Lindsay, California bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your specific situation.

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 Christopher K.

Christopher K.

Tulare, CA

Bankruptcy, Banking and Credit

Rating (18 users) *****
See Reviews
Bankruptcy, Banking and Credit Lawyer
LegalMatch Bankruptcy, Banking and Credit Lawyer Graham H.

Graham H.

Tulare, CA

Bankruptcy, Banking and Credit

Rating (10 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 T. Hall B.

T. Hall B.

Orange, CA

Bankruptcy, Banking and Credit

Rating (6 users) ****
See Reviews

Need a Bankruptcy Lawyer?

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