Q: How do i file for bankruptcy
A:
Most consumers in California file for Chapter 7 or 13 bankruptcy. You can learn about both through Google. Whether you are filing for Chapter 7 or Chapter 13 bankruptcy, you need to complete an extensive petition that lists out all your assets, debts, current income and expenses. The petition also requires that you inform the court about transactions that may be relevant to the bankruptcy estate. You also need to list out the exemptions you are claiming, one of the many important considerations while filing for bankruptcy. Finally, in Chapter 7, you need to complete the Means Test to make sure you qualify. In Chapter 13, you also need to create a plan to repay the creditors.
While you can go about filing for bankruptcy yourself, experience has shown that people come out the bankruptcy process better off if they worked with a quality and experienced attorney.
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