California Bankruptcy law is a federal law designed to assist individual consumers and businesses facing financial difficulties. With respect to consumer debtors, the goal of bankruptcy is to help individuals get beyond their financial turmoil and obtain a fresh start.

The California bankruptcy process involves preparing a petition that is to be filed in federal court. The petition contains information concerning an individual's assets, debts, creditors, monthly income, monthly expenses and financial information. The debtor must include all of its creditors in the petition. Upon the filing of a petition, the court grants the debtor with an automatic stay. The automatic stay is a provision in the bankruptcy law that prohibits creditors from harassing debtors. Specifically, creditors are prohibited from attempting to collect money or obtain property, starting or continuing lawsuits or foreclosures, freezing bank accounts and garnishing a debtor's wages. In addition, creditors can no longer make threatening phone calls or send collection letters to a debtor.

The bankruptcy cases we handle include the following:

• Chapter 7 Bankruptcy - Personal Bankruptcy
• Chapter 11 Bankruptcy - Corporate Debt Reorganization
• Chapter 13 Bankruptcy - Personal Debt Reorganization

Important: The new California bankruptcy law has passed and been signed into law. The main provisions are expected to become effective for cases filed on or after October 17, 2005. Some provisions have already gone into effect. Regardless of your personal situation, if you are planning on filing bankruptcy, it will be easier and cheaper to file it prior to October 17. Contact Stockton California Bankruptcy Lawyers Nelson & Schwab today by calling (209) 547-9291 for a free confidential bankruptcy consultation.

If you are having financial hardship and are considering filling for bankruptcy, please call our office at (209) 547-9291 for a free confidential stockton bankruptcy consultation.

CLICK HERE TO FILL OUT OUR FREE
CONFIDENTIAL STOCKTON BANKRUPTCY CASE EVALUATION FORM

OR CALL US
(209) 547-9291

stockton@nelsonschwab.com