Freedom And Hope Are On The Horizon

Understanding Bankruptcy Law In California

Bird & Van Dyke, Inc. offers a wide range of bankruptcy and debt relief services for people throughout San Joaquin Valley. Below, we have provided a brief summary of our bankruptcy and debt relief services.

To learn more about our legal services or to schedule a free consultation with an experienced bankruptcy lawyer, contact our law office in Stockton, California.

Our Legal Services

Our attorneys are familiar with local bankruptcy courts and understand recent bankruptcy law changes. We understand many debtors’ urgent need to stop creditor harassment. If you are struggling with unmanageable debt, we can help.

Some of the legal matters handled by our attorneys include:

Advice on bankruptcy alternatives such as debt consolidation: Although we are bankruptcy lawyers, we recognize bankruptcy is not for everyone. We offer honest appraisals of individual financial circumstances. Debt settlement or debt consolidation might meet your debt relief needs — or not. Make an appointment for a free consultation to discuss the benefits of bankruptcy versus other debt relief methods.
Chapter 7 bankruptcy: Chapter 7 bankruptcy may help you stop creditor harassment, eliminate dischargeable debts and get a fresh start. To learn more about eliminating or reducing your credit card debts, medical debts and other unsecured debts, contact an experienced bankruptcy lawyer at Bird & Van Dyke, Inc.
Chapter 13 bankruptcy: People who do not qualify for a Chapter 7 bankruptcy may be able to get the relief they need through a Chapter 13 bankruptcy. This type of bankruptcy allows people to pay their debts more gradually and manageably through a debt repayment plan.
Small business bankruptcy: Chapter 11 or Chapter 7 may fill the bill when a small business is financially struggling.
Home foreclosure protection: Our attorneys provide preforeclosure and post-foreclosure relief to people throughout San Joaquin Valley. If you are at risk of losing your home in a foreclosure action, we can help. Learn how many clients have kept their homes when filing bankruptcy – and how many homeowners can often strip second mortgages from their debt load.
Stop creditor harassment; stop wage garnishment: The emotional toll of constant creditor harassment or the fear of wage garnishment can be overwhelming. Filing bankruptcy requires creditors to stop all collection actions against a debtor.
Medical debt relief: Bankruptcy can be used to discharge medical debt. Talk to a lawyer to determine if bankruptcy is an appropriate option for you.
Special circumstances, including emergency bankruptcy filings and bankruptcy and divorce: Get the clarification you need on how to move forward with bankruptcy in the face of other life complications.

Do I Qualify For Bankruptcy?

“I thought only very poor people filed bankruptcy.”

Surprisingly enough, bankruptcy has little if anything to do with poverty. People of all income levels have used bankruptcy as an effective debt relief tool. For example, companies belonging to Donald Trump, the well-known billionaire businessman and real estate mogul, have filed bankruptcy four times. Mr. Trump, along with many other financially successful Americans such as Benjamin Franklin, has liberally used bankruptcy laws to his advantage.

So What Does It Take To Qualify For Bankruptcy?

The formula by which you will prove your eligibility for bankruptcy may seem complex and detailed, but it boils down to one issue: Do you owe more than what you can reasonably repay? In other words, bankruptcy is a legal debt relief option.

We Can Walk You Through The Means Test With Minimal Stress

Part of the process of preparing for bankruptcy is to take the means test as prescribed by the 2005 bankruptcy laws. An experienced lawyer at Bird & Van Dyke, Inc. – A Professional Law Corporation can walk you through the means test with little trouble or hassle. The means test takes into account your income as compared to the median income for a typical California family the same size as yours.

Chapter 7 Or Chapter 13?

The bankruptcy means test will determine whether you qualify for Chapter 7 bankruptcy, which has the power to wipe out unsecured consumer debt such as credit card debt. If the means test indicates you have too much disposable income for Chapter 7, then Chapter 13 bankruptcy may be right for you.

Exemptions: What Can I Keep In California?

One of the most common misconceptions about bankruptcy is that a debtor may lose everything, or at least may lose valuables, including jewelry, tools, antiques, a car and/or house. In fact, the vast majority of our bankruptcy clients at Bird & Van Dyke, Inc. – A Professional Law Corporation are able to keep most or all of their personal property.

Exemptions are laws that allow a person filing for bankruptcy to retain his or her property. In California there are two sets of exemptions available. These exemption laws can be found in California Code of Civil Procedure Sections 703 and 704. A skillful lawyer can utilize the available exemptions so a bankruptcy filer will not lose his or her real or personal property.

We’ll Help You Understand Exemptions

Contact a lawyer at Bird & Van Dyke, Inc. – A Professional Law Corporation for answers regarding commonly applied exemptions in California such as the following:

Homestead
Personal property such as a boats or motorcycles
Life insurance and other types of insurance
Qualified pensions/retirement exemptions, including 401(k)s, 403(b)s, deferred compensation, 457 plans, profit sharing retirement plans, IRAs and many others
Household furnishings and appliances
Jewelry
Motor vehicles
Public benefits such as unemployment benefits
Tools of a trade
Wages: 75 percent within 30 days of filing bankruptcy
Wildcard exemption

Free Consultations — Get Information About State Exemptions

For dollar amounts in these categories as they apply to your financial situation, talk to an attorney who can clarify which of two sets of California bankruptcy exemptions is best suited for your case. Contact us at Bird & Van Dyke, Inc. – A Professional Law Corporation in Stockton. Call 209-507-0479.

FAQs About Bankruptcy In California

At Bird & Van Dyke, Inc., we have heard many intelligent, thoughtful questions from our clients over the years. Contact us to discuss these or other concerns that you may have about debt relief, bankruptcy and your particular financial woes.

How can I get creditors to stop calling me and harassing me as I struggle with overwhelming debt?

Once you retain our attorneys with a modest down payment on your bankruptcy fees, you can direct your creditors to our law offices. Put an end to creditor harassment. Meanwhile, you can pay us the balance as soon as you are able while you prepare documentation to file Chapter 7 or Chapter 13 bankruptcy. When you file bankruptcy, the automatic stay will go into effect immediately.

What is the “automatic stay”?

As soon as you file bankruptcy, the bankruptcy court will notify your creditors to cease collection efforts. Creditors will not be able to call you, send demand letters, file lawsuits against you, garnish your wages, levy your bank accounts or seize other assets. Once your debts are discharged in bankruptcy, the ban on collecting on those debts will become permanent.

What is “debt discharge”?

At the conclusion of your Chapter 7 or Chapter 13 bankruptcy, the court will declare that all debts included in your bankruptcy no longer exist. They will be wiped out.

What is “debt reorganization”?

A Chapter 13 bankruptcy reorganizes your debts on a priority basis, depending on whether they are secured debts or unsecured debts.

Can a small business file bankruptcy?

Yes, and Bird & Van Dyke, Inc. can help you.

How do I know if I qualify?

Nearly everyone with an overload of debt qualifies for Chapter 13 or Chapter 7 bankruptcy. A means test as required by law will determine which type of bankruptcy you qualify for.

Will I lose everything I own?

Quite the opposite is true. Most of our bankruptcy clients are able to keep everything they own.

What will life be like after bankruptcy?

A record of your bankruptcy will remain on your credit report for up to 10 years. However, your debts will be gone. You will be free to rebuild your credit from a clean slate. Many of our bankruptcy clients report that within a few months to two years, they are able to open new credit cards, buy cars on credit and obtain market-rate mortgages.

Will I be stigmatized or put to shame if I file bankruptcy?

You can hold your head up, knowing that you have dealt with your debt problem honestly and legally. Although a bankruptcy filing is public record, no one normally knows about your bankruptcy unless you tell them or unless someone performs a thorough background check on you.

Should I file bankruptcy or seek a debt settlement agreement?

Ask an attorney to evaluate your unique financial situation at Bird & Van Dyke, Inc.. Contact us to schedule a no-obligation consultation.

Bankruptcy Myths

But what if I took out debts with promises to repay them?

Many clients of Bird & Van Dyke, Inc. – A Professional Law Corporation, sincerely wish they could pay their debts as pledged. Life circumstances such as a layoff, a medical crisis, divorce or a bad mortgage deal have forced them to consider debt relief options such as bankruptcy. A debt crisis is a painful and often unavoidable fact of life. Bankruptcy is a perfectly legal way to confront unmanageable debt and get a fresh start.

Is bankruptcy a sign I am a bad person?

In past centuries and in past civilizations, debtors sometimes went to prison or were forced into slavery. The founders of our country considered bankruptcy important enough to include provisions for it in the Constitution when it became the law of our land in the late 1700s. Specifically, the Constitution authorizes Congress to enact “uniform Laws on the subject of Bankruptcies throughout the United States.”

Shouldn’t I seek an alternative like debt consolidation?

Are you looking for an objective evaluation of a debt consolidation plan? Or is bankruptcy a better option for your situation? Rest assured that as legal advocates of people who seek our advice and assistance, we will never recommend something that is not in a client’s best interests — including bankruptcy. We will tell you the truth if we believe debt consolidation could meet your debt relief needs. However, our years of experience have given us a keen eye for when a client is most likely headed for bankruptcy — debt consolidation or no debt consolidation. We pledge to give nothing less than brutally honest advice to inquirers and clients.

Will I lose everything?

In fact, most of our clients at Bird & Van Dyke, Inc. – A Professional Law Corporation are able to keep all of their property by applying exemptions allowed by law. Some reaffirm mortgages and car loans after a bankruptcy is complete, and continue going about their business with their usual lifestyles unaltered.

We Are Here To Advise You

To learn more about the rules and processes of Chapter 7 bankruptcy, Chapter 13 bankruptcy, home foreclosure protection and life after bankruptcy, contact us. Call 209-507-0479 to reach our Stockton law office.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.