Consumer Bankruptcy Lawyers in Mountain View, California

Find the right Consumer Bankruptcy attorney in Mountain View, CA

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 Mountain View, California before you file.

Chapter 7 Bankruptcy in Mountain View, California

In Mountain View, California, there are 2 typical forms of commonly-used consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves liquidation of some of the debtor's assets. It requires some percentage of the debtor's property to be sold in order to pay off as much of his or her debt as possible. However, the majority of property that most people own is exempt. This typically includes homes, vehicles, insurance policies, and retirement accounts. These do not need to be sold.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is excused. 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 Mountain View, California debts are not dischargeable, you might want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Mountain View, California

Chapter 13 bankruptcy in Mountain View, California is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your specific case. Chapter 13 does not excuse debt, but restructures it instead. Typically, 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 typically manageable, as long as the debtor can make some sacrifices.

Which Type of Consumer Bankruptcy Should I File in Mountain View, California

Which Bankruptcy type to file under depends heavily on the facts of each distinct case. If you have a steady stream of income (enough to make a payment plan manageable), and a large amount of non-exempt property that you don't want to part with, Chapter 13 may be best for you. If you don't have a steady income or large amounts of non-exempt property, you may be better off filing for Chapter 7.

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

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Life in Mountain View

Mountain View, California is a city in Santa Clara County. It has a population of about 74,000 people.

Mountain View, California is one of the major centers of Silicon Valley - a region directly south of San Francisco that's known for the huge number of technology companies and innovators located there. Since the 1950s, technology companies have chosen to make Mountain View, and other nearby Silicon Valley communities, their home.

Most notably, Mountain View is the home of search giant Google, which is also the largest employer in the city, with over 10,000 Mountain View employees. Google, and other companies, employ or retain a large number of extremely well-credentialed lawyers, as well, because of the many legal issues such companies face on a regular basis.

If you live in Mountain View, California and need a lawyer, there are many extremely sophisticated an experienced attorneys who practice in Mountain View. Mountain View, California attorneys can help residents with just about any legal problem they might face.

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