If you and your spouse are struggling with debt, you may be wondering: What happens when a married couple files for bankruptcy in California?
When a married couple in California files for bankruptcy, all community property—assets and debts acquired during the marriage—becomes part of the bankruptcy estate. In most cases, eligible debts are discharged, offering financial relief.
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If you’re considering bankruptcy, you may be wondering: What happens to your home after bankruptcy in California?
In California, you can often keep your home after bankruptcy, particularly through Chapter 13, by continuing mortgage payments and following the repayment plan. In Chapter 7, protecting your home depends on using the homestead exemption and staying current on payments.
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Searching for San Francisco, California bankruptcy lawyers implies you need clear advice and reliable representation to manage overwhelming debt. Our guide dives into selecting a skilled attorney adept at handling Chapter 7 or Chapter 13 bankruptcy and securing your path to financial recovery. Avoiding fluff, we pinpoint crucial factors to look for in San Francisco bankruptcy lawyers and outline their role in your financial reset.
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If you’re considering bankruptcy, you may be asking: What’s the difference between Chapter 7 and Chapter 13 bankruptcy in California?
In California, Chapter 7 bankruptcy liquidates non-exempt assets to pay off debts, offering a faster discharge, while Chapter 13 allows debtors to keep their assets by creating a structured repayment plan over 3-5 years.
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