If you’ve got a pile of credit card bills and other debts you can’t possibly repay, you might be thinking about filing for bankruptcy. You may also be wondering if you’ll still have to pay anything back, and if you can keep any of your belongings or property. An experienced bankruptcy lawyer from The David P. Gardner Law Firm understands all the types of bankruptcy laws and can help you figure out which kind is right for you, so that you can give your financial life a fresh start.
Bankruptcy Laws in California
In California, the two most frequently filed types of bankruptcy are Chapter 7 and Chapter 13. You might qualify for Chapter 7 bankruptcy if your income, minus your basic expenses, is below the median that is specified for a household of your size. Chapter 7 bankruptcy stops creditors from harassing you by putting an automatic stay on your debts. It can also stop foreclosure on your home – at least temporarily – and stop any garnishment of your wages by creditors. Chapter 7 bankruptcy also discharges, or gets rid of, most of your debts, with a few exemptions.
Chapter 13 bankruptcy is more of a debt consolidation plan. Under Chapter 13, you can keep your home (even if you’re behind on payments) and most of your other important possessions, as a payment plan allows you to pay over a longer period of time.
A good bankruptcy attorney in Petaluma, California will help you file either type of bankruptcy.
Call for a Free Debt Evaluation Today
If your debts have become too much to handle, call us at (707) 658-4460 for a free debt evaluation today. The David P. Gardner Law Firm of Petaluma, California has the knowledge and experience to assist you in creating a fresh financial start.