Bankruptcy Attorneys in Orange County

Orange County Trial Lawyers Association, Orange County Women Lawyers Association, OCTLA, OCWLAIf you feel suffocated by debt and genuinely see no way that you’ll ever be able to pay it off, bankruptcy may be a viable option for you. Bankruptcy helps individuals and businesses that have more debt than they can handle. Depending on your financial situation and what your goals are with bankruptcy, there are different options you may consider.

Bankruptcy is a complex area of law that requires substantial documentation, calculations, and strict deadlines. It is crucial that you work with an attorney to minimize your stress, meet deadlines, and meet the expectations of the court. Use our list of Orange County bankruptcy attorneys below to find the right lawyer for your case.

Helpful Information About Choosing an Orange County Bankruptcy Lawyer

  • You can research the Bar license status, suspensions or reprimands of an attorney at the California Bar Association website.
  • Some attorneys may specialize in bankruptcy law to become a “California Bar Certified Specialist” but may not be completely necessary unless your BK issue is highly complex and requires a very high level of expertise.
  • Some attorneys will be able to meet with you at their office, your home, or over Zoom. It’s important to ask these questions when you call.

Chapters of Bankruptcy

If you are filing for bankruptcy as an individual, there are two main options available to individuals: Chapter 7 and Chapter 13. Chapter 7 involves a full discharge of all of your debts, both secured and unsecured. Those with more assets or higher incomes may opt instead for Chapter 13, which is a reorganization of your debt. The primary difference is that with Chapter 13, you do pay some of your debt back. The court sets up a three-to-five year payment schedule. During that time, you will pay back all of your secured debt and a portion of your unsecured debt. Any unsecured debt that has not been paid by the end of the payment schedule is discharged.

Options for businesses include Chapter 11 and Chapter 12. Chapter 11 allows for the reorganization of individual or corporation debts, while Chapter 12 is for the reorganization of family farm debts.

Orange County Bankruptcy Lawyers:

Golden Goodrich LLP

Golden Goodrich LLP

Smiley Wang-Ekvall, LLP

Smiley Wang-Ekvall, LLP

Advertise Here

Advertise Here

Exemptions in California

While bankruptcy is handled by federal courts, certain aspects of it are left up to the states. Exemptions are set on a state-by-state basis. When determining whether or not you can file bankruptcy, the court looks at your assets and whether or not you can afford to pay back your debt. If you have enough assets, they will seize the assets, use them to pay off as much debt as possible, and then discharge the rest. However, certain assets are exempt from seizure.

In California, there are two options for exemptions. You can choose from System 1 or System 2. System 1 allows you to exempt real property that you live in up to $600,000, up to $3,625 for a vehicle, and no wildcard exemption. System 2 allows up to $31,950 for real estate, up to $6,375 in vehicle equity, and an additional $1,700 in wildcard exemptions. You must choose one or the other—you cannot mix and match.

Bankruptcy Attorneys Near Me:

Christiansen Law Offices...

17011 Beach Blvd Suite 900 Huntington Beach, CA 92647
17011 Beach Blvd Suite 900 Huntington Beach, CA 92647

Desiree Causey...

7755 Center Avenue. Suite 1100 Huntington Beach, CA 92647
7755 Center Avenue. Suite 1100 Huntington Beach, CA 92647

Robert P. Taylor...

Garfield Plaza Shopping Center, 9042 Garfield Ave Suite 302, Huntington Beach, CA 92646
Garfield Plaza Shopping Center, 9042 Garfield Ave Suite 302, Huntington Beach, CA 92646

Advertise Here...

12900 Garden Grove Blvd #132, Garden Grove, CA 92843
12900 Garden Grove Blvd #132, Garden Grove, CA 92843

When to Consider Hiring an Orange County Bankruptcy Attorney

Some people believe that bankruptcy should only be used when you have exhausted every single other option and are completely out of funds. However, you may want to consult a bankruptcy attorney in Orange County before you reach that point. If there is truly no way out of your debt, it doesn’t do you any good to continue struggling for several months when you could instead be using your income to bounce back from bankruptcy and get a fresh start. Once you’ve reached the point where you don’t think your debts are manageable anymore, consider talking to an attorney.

Ready to find out if bankruptcy is a good option for you? Check out our list of local bankruptcy attorneys and reach out today.

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