bankruptcy learning center

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What is bankruptcy? Why do we have it? How does it work? Am I eligible? Let's take a look at these and more questions about what you need to know about bankrkuptcy and how it can help you.

Most debtors file chapter7 bankruptcy because it is a generally quick and painless way to get a fresh start and eliminate all unsecured debt. 

Chapter 13 bankruptcy includes a repayment plan where you can make affordable payments over time, usually three to five years. Great for curing mortgage arrearage or where you make too much money for chapter 7.

Just about everything you own or have an interest in is considered an asset of the bankruptcy estate. Interestingly, a 401K is NOT considered an asset.

There are basically three categories of creditors; secured, priority unsecured, and general unsecured. 

Did you know we have discharged millions of dollars of taxes? Yes, most taxes are discharged if they meet the tax dischargeability requirements.

To file your bankruptcy case, you must complete your consumer credit counseling class, submit your documents, and review your case with Attorney Doan.

All debtors must attend a mandatory meeting of creditors conducted by a trustee.  Note that no judges are allowed to attend these meetings. The meetings usually only last a few mintues.

Unsecured debt is always eliminated or discharged in chapter 7 bankruptcy. Priorty debts including domestic support obligations and many government fines survive, as does debt secured by collateral that you choose to keep.

We must disclose all income from all sources, though some income may not be counted against you on the means test, such as Social Securty Income.

Married debtors have the option of choosing to file individually or jointly, depending upon the circumstances and our goals. We'll help you find what works best for your unique scenario.

Most debtors keep everything they own in bankruptcy thanks to California's generous exemptions under CCP 703 and 704. We'll help you choose what works best for you.