Bankruptcy Law

DISCHARGED  in Santa Maria CA

DISCHARGED  in Thousand Oaks, CA

DISCHARGED  in Ventura, CA

DISCHARGED  in Westlake, CA

DISCHARGED  in Santa Maria, CA

DISCHARGED  in Ventura, CA

DISCHARGED  in Ventura, CA

DISCHARGED  in Carpinteria, CA

DISCHARGED  in Ventura, CA

DISCHARGED  in Santa Maria, CA

DISCHARGED  in Ventura, CA

DISCHARGED  in Carpinteria, CA

The duration of bankruptcy in California depends on the chapter filed and the complexity of your case. 

• Chapter 7 Bankruptcy: Usually takes about 3 to 6 months from filing to discharge. This is the most common and fastest form of bankruptcy, where most unsecured debts are forgiven quickly.
• Chapter 13 Bankruptcy: Usually lasts 3 to 5 years, as it involves a court-approved repayment plan over several years to pay back creditors.

• Complexity of your financial situation
• Whether all necessary paperwork is complete and accurate
• Any disputes or objections from creditors
• The court’s schedule and workload

• Chapter 7: Usually around 3 to 6 months.
• Chapter 13: Usually 3 to 5 years.

• Flat Fees: 
  • For straightforward cases, fees often range from $1,500 to $3,500 for Chapter 7 bankruptcy.
  • More complex cases or Chapter 13 filings can cost between $3,000 and $6,000 or more.

• Court filing fees (currently around $335 for Chapter 7)
• Credit counseling and debtor education courses
• Miscellaneous expenses such as document preparation, paperwork, and additional legal services

At HACKETT LAW , we understand that legal fees can be a significant financial burden and often offer flexible payment options, including installment plans. Allowing clients to pay attorney fees in installments can make important legal services more accessible, especially for those facing financial hardship. 

We are proud to offer monthly installment fees for our bankruptcy clients.  For more details, please contact us at 805-448-1233

Yes, filing for bankruptcy generally stops most creditors from calling or trying to collect debts. Once you file, an automatic stay goes into effect, which is a court order that temporarily halts collection actions, including:

• Phone calls and letters from creditors
• Lawsuits and legal actions
• Garnishments and bank levies
• Foreclosures and repossessions (in many cases)

This stay provides immediate relief and gives you a breathing period to address your debts and manage the bankruptcy process. However, some debts like certain taxes, student loans, and criminal fines are not stopped by the automatic stay.

Whether you can keep your house or car when filing bankruptcy depends on several factors, including the type of bankruptcy you file, the value of your assets, and whether you are current on payments.

In Chapter 7 bankruptcy: 

• You may be able to keep your house and car if they are exempt assets (assets protected by law).
• You might need to reaffirm the loan or negotiate with your lender to keep the property, especially if it’s subject to a mortgage or car loan.
• If you’re behind on payments, you can usually catch up to retain the asset, but failing to do so could result in the property being sold.

In Chapter 13 bankruptcy: 

• You usually keep your house and car while making regular payments according to your court-approved repayment plan.
• This chapter offers more protection for secured assets (like mortgages and car loans) and is often used to catch up on missed payments.

Important: 

• You may need to demonstrate that the value of your home or car is within legal exemption limits.

To file for bankruptcy in California, you'll need to gather several important documents to provide a complete picture of your financial situation. Here’s a list of common documents required:

1. Proof of Income:
   
   • Recent pay stubs 
   • Tax returns 
   • 1099s or other income documentation for self-employed or freelance work

1. Asset Documentation:
   
   • Bank account statements (savings, checking)
   • Investment account statements
   • Retirement account statements (IRA, 401(k), etc.)
   • Property deeds, vehicle titles

1. Debt Information:
   
   • Statements for credit cards, personal loans, medical bills
   • Mortgages and installment loan statements
   • Documentation of any other liabilities (student loans, taxes, court judgments)

1. Monthly Expenses:
   
   • Utility bills
   • Insurance policies (health, auto, home)
   • Child support or alimony payments
   • Other recurring expenses

1. Legal & Identification Documents:
   
   • Government-issued ID (driver’s license, passport)
   • Social Security card or number
   • Court documents (if involved in other legal proceedings)

• Documentation of any recent asset purchases or sales
• Evidence of any recent income or asset transfers