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California Bankruptcy Lawyer

When you find yourself in a financial situation that seems too overwhelming to handle by yourself, you should consult with a California bankruptcy lawyer attorney. Bankruptcy may be an option for people who have overwhelming amounts of debt, and who need a fresh start. Bankruptcy may not wipe the slate entirely clean, but it does assist the debtor in relieving some of their debts, or it may give the debtor an opportunity to repay his or her creditors on a payment plan. This may make the repayment of the debt more manageable for the debtor.

Bankruptcy is a legal way for debtors to discharge their debts, but it does not mean that a person can totally be free from all of their debts. It only means that they can be released from a good many of their debts, by presenting their non-exempt assets to the bankruptcy court in their specific jurisdiction.

A California bankruptcy lawyer attorney will be extremely helpful if you have come to the decision to file a petition for bankruptcy. The attorney can help you best determine which course of bankruptcy filing will suit your particular situation, and can advise you on what will be the best course of action to take concerning your extent of debt and circumstances. There is only one liquidation class available in the United States and it is Chapter 7. All of the other chapters, which are Chapters 9-13, are for reorganization only.

There are six types of bankruptcy under the Bankruptcy Code, located at Title 11 of the United States Code:

Chapter 7: basic liquidation for individuals and businesses;
Chapter 9: municipal bankruptcy;
Chapter 11: rehabilitation or reorganization, used primarily by business debtors, but sometimes by individuals with substantial debts and assets;
Chapter 12: rehabilitation for family farmers and fishermen;
Chapter 13: rehabilitation with a payment plan for individuals with a regular source of income;
Chapter 15: ancillary and other international cases.

If a debtor files under Chapter 7, or under one of the other chapters, they must make sure that it is the filing that will settle their specific debts to creditors in the best way possible. California bankruptcy lawyer attorneys will help you make that determination, and will walk you through the process of filing Chapter 7 bankruptcy.

Lawyers who specialize in bankruptcy law practice have not only extensive education in the relevant bankruptcy and financial laws, but also the experience of handling cases that are similar to yours. They will be able to explain your options to you, guide your choices, and represent you in bankruptcy court.

The complexities of bankruptcy law prove a frustrating challenge to consumers who opt to deal with their financial struggles on their own. Especially since recent changes have been enacted in bankruptcy law, it's more difficult than ever to declare bankruptcy without professional legal help. Experienced bankruptcy lawyers in California can provide a knowledgeable analysis of the circumstances surrounding their clients financial situation when they handle their clients bankruptcy case.

An experienced bankruptcy lawyer can more thoroughly evaluate the circumstances of their clients finances. He or she will do everything possible to make sure that your finances are protected and you receive the best possible outcome under current bankruptcy law. If you're struggling with debt and don't know where to turn, make the American Bar Association your first stop. There, you can find a qualified bankruptcy attorney who will help guide you along the path to financial freedom.