1 / 6

Bankruptcy in California – Misconceptions You Need to Know

Many individuals with financial problems may consider filing for bankruptcy, but many are hesitant due to several misconceptions about the process. These may be preventing you from submitting a claim or seeking assistance. To help clear things up, Understand the misconceptions regarding bankruptcy in California before you decide on a way forward.

bernemanlawfirm
Download Presentation

Bankruptcy in California – Misconceptions You Need to Know

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. BANKRUPTCY IN CALIFORNIA BANKRUPTCY IN CALIFORNIA MISCONCEPTIONS MISCONCEPTIONS YOU NEED TO KNOW TO KNOW YOU NEED Contact us: Visit us: BERNEMANLAWFIRM.COM 805.492.7045 3835-R Thousand Oaks Blvd #152, Westlake Village, CA United States

  2. MISCONCEPTION It is simply not true Unless you own anything lavish that may be sold to cover the cost of your debts In majority of bankruptcy cases, you are able to keep your assets and even reaffirm things Your credit options may be limited compared to before you filed You will be able to get minor credit lines to rebuild your credit score after bankruptcy

  3. You do not need to be concerned about losing your business You can reaffirm loans while maintaining your business You are not losing your business if you file for bankruptcy, but you may need to restructure after you file Married couples have the option of filing jointly or separately You don't have to involve your spouse if you file on your own If you both have joint debts, it is often best that you file together to get out of the debt

  4. You can file for bankruptcy more than once, but there are distinct time frames that apply to each case A misconception is that once a bankruptcy starts, it cannot stop. But it is wrong You can end it any time, even after it has started and is on the way to completion

  5. Bankruptcy laws do not require debtors to have a certain amount of debt to petition for bankruptcy You can file for any amount of debt, but it is not exactly a great idea to file for small dues If you are submitting a case on your own, it might be stressful. Having an attorney on your side can make things a lot easier

  6. Many individuals with financial problems may consider filing for bankruptcy, but many are hesitant due to several misconceptions about the process. You can evaluate the potential benefits of bankruptcy by clearing them. 805.492.7045 BERNEMANLAWFIRM.COM

More Related