Posts Tagged ‘Liquidation’

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Tips on Keeping Your Home Before, During, and After Bankruptcy

Wednesday, May 12th, 2010

Chapter 7 bankruptcy has many clear advantages, but unfortunately not many for home owners. Technically you can eliminate mortgage debt–just don’t expect to keep your home.

So how do you keep your home instead  of Chapter 7 bankruptcy? What can you do during the bankruptcy? And what happens after — will you be able to buy again or negotiate with the lender? This post gives answers.

Before Bankruptcy
Usually Chapter 13 bankruptcy is best for keeping all your assets. The only negative is you have to pay back your debts; you cannot discharge one dollar in Chapter 13. The advantage is, say you have an expensive home you’ve been paying on for 20 years. Do you really want to lose it to pay back debt? And if you have a job, your chances are higher for keeping it with a new debt repayment plan

That said, if you want to keep your home before bankruptcy, no matter whether it’s Chapter 7 or Chapter 13, you need to 1) hire an experienced attorney and 2) make the loan current.

Why hire an attorney?
An attorney is your very best option for keeping your home. No matter your housing market, no matter how far behind you are in payments, an attorney is invaluable.

Why make the loan current?
Really, this is the most important tip of the entire post. According to law, if you get your loan payment current–meaning you pay all delinquent amounts–the lender cannot take your home. If you’re going to file Chapter 7 bankruptcy, you can keep your home if you negotiate with the lender or if  you work with the trustee. For example, if you also wanted to keep your car, you could pay the amount you owe to the trustee so you can avoid losing it.

Is bankruptcy the best option?
Certainly bankruptcy has advantages and disadvantages. For one, if you wait to long to  file, you may lose your home in foreclosure before you can act. But since Chapter 13 bankruptcy can save your home, it’s often the best option.

Will your credit be ruined?
If your home is foreclosed upon, to put it simply, that’s pretty much the worst thing which can happen to your credit.  You will have a lot of trouble getting financing in the future. However, if you avoid foreclosure, bankruptcy looks far better than foreclosure after you file. While foreclosures are as common as bankruptcies, bankruptcy doesn’t necessarily ruin your credit. If you had to choose between losing everything and ruining your creditor, or keeping much and paying back or discharging debts, what would you do?

What’s the first step?
These tips were meant to show you how to successfully save your home from foreclosure. Before you go into foreclosure, consider bankruptcy. During, stay current on payments. And after, rebuild your credit.

The first step would be to hire an expert who can assess your situation. You may want to file Chapter 7, you may prefer Chapter 13, or perhaps there are alternatives. An experienced bankruptcy attorney can help in numerous ways; just hire the right one.

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Tips Before You File Chapter 7 Bankruptcy in New York

Monday, April 26th, 2010

Want to file Chapter 7 bankruptcy in New York but have enough questions to fill a book? Well, there are some ground rules for filing New York Chapter 7  you need to be aware of, and tips you need to successfully discharge or pay back debt.

Are you eligible for bankruptcy in New York?
The two main forms of personal bankruptcy, Chapter 7 and Chapter 13 bankruptcy, have clear guidelines for whose eligible to file. In most all cases, you can file Chapter 13. It used to be the same with Chapter 7. With new bankruptcy code, you must now be at the median income or below in your state if you want to file for Chapter 7 bankruptcy.

For example, if you’re a single resident in New York, no matter what assets you have, but make less than  $46, 523, you can file under Chapter 7 bankruptcy in New York. The larger your family, the larger the median income limit. If you make less than $57,000 and your family size is 2, you can file bankruptcy. It goes up from there, as in  other states.

Sometimes you may not be eligible for Chapter 13 bankruptcy. If you have more than $336,900 in unsecured debt, you cannot file. If you have more than $1,010,650 in secured debt, you are not eligible.     However,if you have less than those numbers in unsecured and secured debt, as most do, you are eligible for Chapter 13.

To be sure these numbers are up to date, or for different states, you can find out the median income for your state, along with current bankruptcy code for secured and unsecured debt.

What bankruptcy is better for New York bankruptcy filers?
It depends on your current income status, mainly. What’s best for you can be helped with a professional  bankruptcy attorney. Here are some tips:

-If you have a lot of credit card debt, only Chapter 7 bankruptcy can eliminate it
-If you fear your home will go into foreclosure, Chapter 13 bankruptcy can delay it several years and help you keep it
-Chapter 7 bankruptcy does not eliminate tax or alimony debts
-Chapter 13 bankruptcy only buys you time: you still need money

How do you hire a bankruptcy attorney in New York?
Hiring a bankruptcy attorney comes down to many factors, including: experience, rates, and workload.

If your attorney has little experience in bankruptcy law, even if he or she is a friend, you should hire a professional. The more experience does not always mean more rates either, but some attorneys charge you higher than others. Lastly, you don’t want to hire a New York attorney who’s inundated with clients; good for him or her, but can slow the process for you.

Will there be more bankruptcy changes?
There will be more bankruptcy changes at the state level, likely every year as the median income changes. For New York residents, there are alternatives to bankruptcy, but sometimes bankruptcy is your best option. If you’re unsure, consult with a professional.

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What Can You Keep After Filing Bankruptcy?

Friday, April 23rd, 2010

The big question bankruptcy attorneys are asked is: What can I keep after filing bankruptcy? The laws can be complex when it comes to exempt and nonexempt property. So where do you start?

Exempt property is property you can keep. Technically, your home, car, and many possessions can be exempt if you are current on them. This depends on what form of personal bankruptcy you file–Chapter 7 bankruptcy or Chapter 13 bankruptcy.

Nonexempt assets cannot be kept in most cases unless you are filing Chapter 13 bankruptcy, where you have the opportunity to pay back assets over 3-5 years. Nonexempt assets can vary in value, but if you have few valuable assets, and are current on mortgage and car payments, you can often keep the majority of them.

For bankruptcy filers, hiring a professional bankruptcy attorney is simply a must.

What if you file Chapter 7 bankruptcy?
Chapter 7 bankruptcy is a liquidation proceeding where you cancel the majority of your debts, mainly credit card debts. You cannot claim mortgage, tax, alimony, college tuition, and many other forms of debt. You can discharge credit card debt, which is mainly why so many want to use Chapter 7 bankruptcy. Chapter 7 bankruptcy typically only lasts a few months; but bear in mind, any bankruptcy will stay on your record for some time, currently 10 years.

What if you file Chapter 13 bankruptcy?
It’s often noted that Chapter 7 filers are being forced to file Chapter 13. Why are fewer being allowed to file Chapter 7 bankruptcy? It’s mainly because people with higher incomes are filing. If you have enough money to pay expenses, but not enough to cover bills, Chapter 13 bankruptcy can buy you time to pay back bills. No possession–such as your home and car–will be taken if you stay current on them .Also, you get 3-5 years to pay back debts. If you fear home foreclosure, Chapter 13 bankruptcy can save it. It’s important to act early before the foreclosure goes into effect. If you are making enough money to pay most bills, but your house payments are behind, you should immediately inquire with a bankruptcy attorney as to your options.

What money can you keep after filing bankruptcy?
How much money you can have is another important question. If your home and car are valued too high, you may lose them with Chapter 7 bankruptcy. If your car equity is too much, these can be considered nonexempt debts. If on the other hand you have too much money in your account and you have a car or home, these could be taken. These laws can be complex, and  some state laws actually come into play concerning the value of exempt and nonexempt assets. If you’re unsure, a quick consultation with a good bankruptcy attorney can help.

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How to Choose a Good Los Angeles Bankruptcy Attorney

Wednesday, April 14th, 2010

Hiring Los Angeles bankruptcy attorneys is tough, right? In fact, with literally tens of thousands of attorneys and thousands of bankruptcy attorneys, it seems easy. You have many options. You can negotiate process. You can get the best one for the deal. Bankruptcy gives you a fresh start, but one of the most important choices you make is in hiring a good bankruptcy attorney.

However, not all Los Angeles bankruptcy attorneys are a good fit for you. First, some are dishonest and  overcharge you (over billing you on hours, for example). It should be said there are just as many if not more honest Los Angeles bankruptcy attorneys as there are good ones. It’s choosing between the two which is hard.

Making a List of Good Los Angeles Bankruptcy Attorneys
The best way to find bankruptcy attorneys in Los Angeles is to use the web. This saves time on cold calls. You can also work via referrals, as you may know someone who worked with a particularly good bankruptcy attorney. How many Los Angeles bankruptcy attorneys should you consider? There is no big rule on how many you can choose, but 5-10 in your initial list is good, as you can focus on the most experienced.

Initial Queries to Los Angeles Bankruptcy Attorneys
Once you have that list, you want to start making phone calls and sending emails, whichever is easier for you. You should confirm the attorney specializes in bankruptcy, knows federal laws, and can help you immediately.

Inquiring on Workload
You should also query the attorney on how much work they have, as well as who you will be working with directly. You don’t want to be one of 100 clients for one or two bankruptcy attorneys in a firm. You could ask them if they are overloaded, but just ask how much time they have to spend with you.

Asking on Fees for Bankruptcy Attorneys
Just as important as workload is affordability. Since not all Los Angeles bankruptcy attorneys are equal, have the same skills and degrees, you may not always want the cheapest or most expensive one. Choose an attorney who has helpful bankruptcy knowledge, can educate you on the process, has years experience, and does not charge a fortune. Hiring the first attorney you find may work out, but it rarely does; the same could be said of hiring the cheapest.

Hiring the Best Bankruptcy Attorney
Once you’ve made your list and inquiries, there will likely be a few standouts. You do want your attorney to be close so you can meet with him or her from time to time. Choosing may seem hard, but you don’t have to agonize over this. Be clear on rates, ask for references, and make an informed decision.

Filing Bankruptcy in Los Angeles
Does the idea of filing bankruptcy scare you? The sad truth is that many just like you feel the same way. A good Los Angeles bankruptcy attorney can offer guidance on how to handle your finances, how to clear debt, how to stop creditor harassment, and how to get a fresh start.

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What the Case Trustee does during Chapter 7 Bankruptcy in Las Vegas

Monday, April 12th, 2010

Chapter 7 bankruptcy has many clear benefits for Las Vegas residents in deep debt and with few options. Instead of borrowing more money or losing everything, you can eliminate many debts including hospital bills, mortgages, and credit card debt (but you may lose your home in Chapter 7 bankruptcy).

The case trustee administers your liquidation of debt by selling all your nonexempt assets. This means exempt assets, including possessions like food and clothes, will stay safe. Nonexempt assets include your car and home. Typically, the more you have the more you lose. It’s wise to get counsel from a professional Las Vegas bankruptcy attorney, to study personal Chapter 7 and Chapter 13 bankruptcy yourself, and to be aware of all laws including the role of the case trustee. Let’s go over what the case trustee does.

Liquidation for Chapter 7 Bankruptcy in Las Vegas
If you have no assets, which is the most common in bankruptcy, you will lose no assets and your creditors will receive nothing. If you have many assets, you might lose some of them.  It’s most common to lose absolutely nothing.

Liquidation involves you filing the petition, a court receiving it and assigning a trustee, and for any creditors you owe money to have to claim it. Within 90 days, unsecured creditors have to file statements on debts with the court. The money made from the liquidation will then go to creditors. Within 180 days, government units have to file paperwork as well. Again, in cases where the debtor has no assets, the creditors have nothing to claim.

The “Estate” and Chapter 7 Bankruptcy in Las Vegas
The estate will be the owner of all the debtor’s nonexempt property, including cars and homes in some cases. The money paid to creditors will come from this estate. Section 726 of the Bankruptcy code is where the powers given to the estate comes from. There are six classes of claims for each creditor, and each has a right to the debtors assets. After all these are paid, the debtor can hold onto whatever assets are left.

The Discharge for Chapter 7 Bankruptcy in Las Vegas
Finally, when the creditors are paid, or get nothing if the debtor has few assets, the discharge is made. According to the U.S. government, debtors receive a discharge 99 percent of the time. This is very good news, as odds are in a matter of months you will be debt free. This process typically takes only 3-6 months.

The Role of the Las Vegas Bankruptcy Attorney
If you want to file Chapter 7 bankruptcy in Las Vegas and are unsure of laws such as exempt and nonexempt property, contact a professional bankruptcy attorney with the experience you need. While bankruptcy on paper sounds like a quick process, in reality it takes a lot of skill to file all proper documentation, handle the courts correctly, and come out ahead.

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Mortgages, Taxes, and Bankruptcy Relief

Thursday, April 1st, 2010

From 2007 through 2012, taxpayers can exclude income from the discharge of debt on their residence. A discharge of debt is what occurs after a successful Chapter 7 bankruptcy. It used to be you were responsible for some discharged debt even after Chapter 7 bankruptcy. Now, with the Mortgage Relief Act of 2007, you can exclude income made from certain debts discharged. The IRS website goes over how this works in detail, but lets ask general questions you likely have on how this effects you, your family, and your pocket book.

How Cancellation of Debt Occurs

When you borrow money money, and the debt is canceled or forgiven by the lender, you sometimes have to consider this canceled debt income for taxes. If you borrowed $50,000 dollars, and paid by half of that, $25,000 would be considered as income for tax purposes. So if you bought a home for that price, you can expect some of the resultant debts to show up after bankruptcy.

What is Cancellation of Debt?
If you borrow money from a commercial lender and the lender later cancels or forgives the debt, you may have to include the canceled amount in income for tax purposes, depending on the circumstances. When you borrowed the money you were not required to include the loan proceeds in income because you had an obligation to repay the lender. When that obligation is subsequently forgiven, the amount you received as loan proceeds is normally reportable as income because you no longer have an obligation to repay the lender. The lender is usually required to report the amount of the canceled debt to you and the IRS on a Form 1099-C, Cancellation of Debt.

Here’s a very simplified example. You borrow $10,000 and default on the loan after paying back $2,000. If the lender is unable to collect the remaining debt from you, there is a cancellation of debt of $8,000, which generally is taxable income to you.

More Info on The Cancellation of Debt and Taxes
This income isn’t always taxable. The most important part of the Mortgage Debt Relief Act of 2007 was how it applied to homeowners; if you have a qualified principal residence which went into foreclosure or where the debt was forgiven, you do not have to pay taxes on the forgiven debt.

Also, debts discharged through bankruptcy are not considered taxable income by the IRS. There are other ways your canceled debt may not be taxable, but let’s focus on the Mortgage Debt Relief Act of 2007 and how it applies to debtors and home owners.

How the Mortgage Forgiveness Debt Relief Act of 2007 Works
If you have debt reduced by mortgage restructuring or by foreclosure, you qualify for the relief. If on the other hand you are going into bankruptcy, your debts are not forgivable in most cases. That does not mean that you’ll lose your home, but mortgage debt isn’t part of Chapter 7 bankruptcy. If you are earnest in wanting to keep your home, Chapter 13 bankruptcy can buy you time to pay back the loan. If you on the other hand are considering foreclosure, you may consider the Mortgage Act of 2007 as a means of relieving debt.

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What a Credit Counseling Agency Does and How to Choose One – Alternatives to Bankruptcy

Wednesday, March 31st, 2010

Credit counseling agencies are for people who have problems paying debts. If you can’t pay bills on time, have outstanding credit card debt, and want advice on money management, credit counseling agencies can help and are in some cases an alternative to filing bankruptcy.

Credit counseling services include:
-Money management education for debtors
-Budget and debt counseling
-House counseling
-Referrals

The Debt Management Plan
A DMP  is where the credit counseling agency negotiates with your credit card companies and other creditors. Typically, the credit counseling agencies goal is to negotiate for lower interest rates and monthly payments to your creditors. You will make a large payment to the agency, and they’ll send separate payments to all your creditors.

The Price
While some credit counseling agencies come at no cost, some do charge a fee (usually small). Also, you should be weary of using a credit repair clinic, who sometimes trick individuals into their services. In essence, credit repair clinics only do what you could easily do for yourself. They offer to fix your credit with services available to everyone. It’s best to avoid any company offering to repair your credit for free; most are scams.

Choosing A Credit Counseling Agency
There are a variety of ways to make sure you get the right services for your situation. Just as you shouldn’t hire the first bankruptcy attorney you find, you should research credit counseling agencies and compare them. Here are some notes on what you should look for.

-They must me a registered nonprofit (accredited nonprofit)
-Are a member of the NFCC or AICCCA
-Employ certified, professional counselors
-Provide counseling and education
-Offer more than one debt management option
-Are upfront about all fees
-Have a clean business record
Let’s go over some of these in more detail.

Certified Counselors
Credit counselor should have not only completed a training program within the company, but also passed a certification exam; the certification exam tests for understanding in counseling, budgeting, credit and consumer law, debt management, and bankruptcy law. You want this exam for your counselors to be done by an outside, independent agency such as Financial Counseling and Planning Education.

Counseling and Education
You want to go over all the details on your current economic status in person, by phone, or on  the web. It usually takes about an hour and you’ll go over income, expenses, debt, why you’re in a tough situation, and your future goals. After this session, you should get a budget plan, a list of steps and to begin, and notes on your options.

Fees
You should never pay more than $50 to establish your work with the the credit counseling agency, and future monthly payments should never exceed $50. Also, the agency must be made aware if you cannot afford these fees, and should waive them.

When Filing Bankruptcy
In some cases, you might want to actually file bankruptcy, whether it’s Chapter 7 or Chapter 13 bankruptcy. Sometimes you simply cannot pay back all these fees. In any case, you have nothing to lose and a lot to gain when working with debt counseling agencies.

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Bankruptcy Decisions – When it Makes Sense to File for Chapter 7 or Chapter 13 Bankruptcy

Monday, March 29th, 2010

It’s often depressing to look at your finances, see you’re in debt over your head, and admit you have to file bankruptcy. While in many cases alternatives to bankruptcy do exist, whether it’s Chapter 7 or Chapter 13 personal bankruptcy, it’s often clear filing bankruptcy is your best option. Does that mean your house will go into foreclosure? How bad will it be?

In many cases, filing bankruptcy is a logical, if somewhat scary decision you make when you’re out of options. If you are financially in trouble when it comes to your home, job, health insurance, and credit card debt, filing bankruptcy is wise.

This needs to be said because many individuals and families struggle for far too long before they admit they need to file Chapter 7 or Chapter 13 bankruptcy. It’s almost considered giving up. By the time you do make the decision, you’ve lost a lot already and you’re worse than you would have been if you’d made the decision earlier. That goes against why bankruptcy was created–for helping individuals rebound from tough economic times, joblessness, and outstanding debts.

So when do you make the decision? Instead of blaming yourself, file early and take advantage of the law. “You can use Chapter 7, the most popular type, only once in eight years, so draw up a ‘no kidding’ plan for living on your income when you’re finally clear,” says Jane Bryant Quinn for Newsweek.

When to file Chapter 7 or Chapter 13 bankruptcy:
-When you still have assets to protect but you’re financially stuck
-Before you decide to pay back huge bills
-When tap IRAs and 401(k)s
-When you have outstanding medical bills (which can be canceled by bankruptcy)

Speaking of IRAs and 401Ks, you should never use these as an alternative to filing bankruptcy. After all, these are your future, and are meant to provide for you later, not now. These are mainly protected by bankruptcy, so ask your bankruptcy attorney about them.

Never wait for medical treatment–dental, eye, or otherwise–because you are out of money. These can be part of your Chapter 7 bankruptcy filing, or paid back in a reasonable amount of time with Chapter 13 bankruptcy.

Since you can use Chapter 7 bankruptcy once every 8 years, it’s a clear alternative to tapping into funds your future depends on.

So how do you make the decision between Chapter 7 and Chapter 13 bankruptcy? With new bankruptcy laws, Chapter 7 bankruptcy is off the table for many. Now, people are being told to file for Chapter 13 bankruptcy. In short, Chapter 7 bankruptcy clears the majority of your debt, from mortgages, to medical bills, to credit cards. There are some nonexempt items which you may lose here.

Chapter 13 bankruptcy is less about canceling debt and  more about creating a longer time frame for repayment. If you make too much money, you may be forced to file Chapter 13 bankruptcy instead of Chapter 7.

Choosing between the two calls for 1) research and 2) professional counsel. Hiring a professional bankruptcy attorney ensures your financial future will be safe.

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Student Loan Debt Help – From Types of Loans to Attorneys

Wednesday, March 24th, 2010

Student loan debts vary in terms of repayment plans. For the purposes of this article, we’ll discuss the more common federal student loans, how you can handle repayment, and what happens if you cannot pay or file for bankruptcy.

Kinds of Federal Loans
The two kinds of federal loans are FFEL(Federal Family Education Loans) and Federal Direct Loans. FFEL loans are made by private lenders and guaranteed by the government. In this case, if you default or file bankruptcy, the lender is reimbursed by the government. “Federal Direct Loans” pretty much speak itself: they are direct loans from the U.S. government.

Other Loans
There are also school federal loans, where the school issues a federal student loan. Repayment plans depend on the school. Lastly, there are private loans, which are made with federal funds and come with the least options for repayment. You typically need to discuss with the lender repayment options, along with what happens if you default or file bankruptcy.

If You Think You’ll Default on the Debts
If you do default, it’s best to find out in advance. For repayment plans, you don’t want to wait until you’re far behind on payments, as many of the following options will not be available to you. Also, you are not locked into any plan, typically being able to switch your plan once a year.

Repayment Plan Forms
Standard repayment plans are offered by your lender, where you make payments for up to 10 years. You pay less interest here, but your monthly payments are higher.

Graduated repayment plans are common too, mainly because you can start small (when you’re in school) and start paying more over time (as you get work).

An extended repayment plan allows you to pay smaller amounts for up to 25 years. You need to have a balance of more than $30,000.

Last, income-based repayment plans are unique in that, as it sounds, you can pay based on how much money you are making. If you had a job but lost it, the income would go down, and therefore the monthly payments would go down.

Default and Bankruptcy
If you think you’ll fall behind in payments and might default, it’s best to act early. If you fall far behind, the government can take money from your income tax return, garnish your wages, or even take back federal benefits (if you’re on social security, for example).

The best move is to hire professional counsel if you fall far behind and cannot catch up. In most cases, you cannot file Chapter 7 bankruptcy and get your student loans discharged. This is where a professional bankruptcy attorney can help you.

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Is Filing California Bankruptcy Right for You?

Tuesday, March 23rd, 2010

Deciding if California bankruptcy is right for you is clearly one of the biggest financial decisions of your life. While bankruptcy can solve many problems, it’s not the only alternative. There are many other ways to get control of your finances.

You can learn more by hiring a professional California bankruptcy attorney to go over your case. Even a brief consultation with a lawyer could save you a lot of headaches.

Before deciding if bankruptcy is right for you, let’s go over the bankruptcy basics.

For individuals, you’re going to be filing Chapter 7 or Chapter 13 bankruptcy. Chapter 7 bankrupt has for years been the more popular one, but new bankruptcy code has made it difficult for many to file under Chapter 7 in California and across the nation. Now, Chapter 13 bankruptcy is often advised.

Chapter 7 bankrupt liquidates your assets, clears you of most debts, and does so within a matter of months. Chapter 13 bankruptcy pays back assets over time, and you usually don’t lose much if anything as long as you stay with the repayment plan. If you feel you cannot pay back outstanding debts, Chapter 7 bankruptcy is wise. If you don’t want to lose your home and have income coming in regularly, get with a Chapter 13 bankruptcy attorney who can go over the advantages of Chapter 13 bankruptcy.

Now let’s go over the decision making process of California bankruptcy.

Alternatives
There are many alternatives to actually filing bankruptcy, including working with debt counseling agencies. This is another point where professional counsel is valuable. You often have more options than you think.

Limits on Bankruptcy
Did you know that if you have enough income, you may be forced to file Chapter 13 bankruptcy? That’s what was alluded to earlier: sometimes you are forced away from Chapter 7. On the other hand, if you wanted to save your house or car, you might think Chapter 13 is the way to go. If your debts are too high and your income too low, you will likely have trouble filing. These are things you should really study as filing bankruptcy is not usually a quick fix.

Debts Canceled
Not all debts will be canceled, even if you file Chapter 7 bankruptcy. Some debts can be canceled but do not limit what the creditor can do to take back property. This is a called a secured debt, and  some items can be lost.

Credit Cards
There are many good things about filing bankruptcy, especially in times when you feel debts are piling up. You can, for example, wipe your credit card debts by filing Chapter 7 bankruptcy. This is perhaps the biggest benefit of filing bankruptcy, as credit card debts and interest rates sometimes only grow.

Keep All Your Property
One big advantage of Chapter 13 bankruptcy is the options you have the time you can buy. For instance, you might be falling behind on house payments, have other outstanding debts, but have a good job about to start. You might be able to pay back all these debts, including your house payments, over an extended period of time. Chapter 13 bankruptcy typically gives you 3-5 years to pay these back. If you love your home, and would do anything to keep it, Chapter 13 bankruptcy is a good option.

Personal Life
Filing California bankruptcy is a way to clear debts, save property, and give you a fresh start. However, it will not make all your problems go away, nor will it be easy to file for. The best thing you can do is hire a California bankruptcy attorney who can help.

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