Bankruptcy Attorneys
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Address: 930 West Seventeenth Street | Suite C | Santa Ana CA 92706
Serving All Of Orange County!
Hours of Operation:
Open Saturdays
In Practice Since:
1993
Customers Served:
Residential
What is bankruptcy?
Bankruptcy is the legal process that provides relief to businesses and individuals in serious debt or severe financial trouble. In bankruptcy cases, individuals, business, or organizations legally declare inability to repay their debt to creditors. When bankruptcy is filed, the individual, business, or organization requests a restructured payment plan, or a complete dismissal of all debt. Filing for bankruptcy while in debt, protects you from creditors.
Do I need an attorney to file for bankruptcy?
It is not legally required to hire an attorney when filing for bankruptcy. However, bankruptcy law is extremely complicated and the assistance of a skilled attorney can drastically enhance your chance of achieving your legal wishes. The courts will not provide individuals with any legal guidance or assistance with mandatory forms.
Does my spouse also have to file for bankruptcy?
No. Debts usually remain in the name of one person. The credit of the spouse not filing for bankruptcy will not be affected.
If I file for Chapter 7 Bankruptcy, will all by debts and bills be eliminated?
Generally, yes. All unsecured debt (i.e. medical bills, credit card debts, and income taxes over three years old) will be permanently eliminated in Chapter 7 bankruptcy. However certain debts cannot be discharged including alimony, child support, student loans, criminal penalties and fines, and income taxes less than 3 years old.
What is a joint petition?
A joint petition is a single petition that is filed by both the debtor and his/her spouse. Only married individuals are eligible to file a joint petition. In cases of corporate or business partnerships, each individual must file a separate case.
Can I be fired from my job if I file for bankruptcy?
No. It is illegal under the U.S. Bankruptcy Law to specifically discriminate against a person based upon their need to file for protection under bankruptcy laws.
Will my credit be ruined for 10 years after bankruptcy?
Bankruptcy is the first step in re-establishing credit that is already damaged, or about to be ruined. Chapter 7 bankruptcy discharges any outstanding debts, which will be reflected on credit reports as $0.00. Within 18 to thirty months after filing for bankruptcy, a debtor is usually able to re-establish good credit.
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