Declaring Bankruptcy in Murrieta County

Declaring bankruptcy in Murrieta County is much like filing bankruptcy anywhere else in California. Your case may be heard in Murrieta Superior Court, but the state’s bankruptcy law will apply no matter where you are in California.

Of course, bankruptcy law can be complicated, and it is important that you adhere to it carefully for the best shot at success with your declaration. For this reason, ideally you have hired an attorney to represent you in Murrieta Superior Court. Bankruptcy law is a field in which many people try to represent themselves and suffer as a result – invest in your future by investing in a bankruptcy attorney to help you declare.

Your attorney can go over Chapter 7 vs Chapter 13 bankruptcy. Chapter 7 vs Chapter 13 is something that can mystify a lot of people, especially when you get into the issues of income and assets. To put it simply, Chapter 7 vs Chapter 13 comes down to liquidation, or a repayment plan. If you have little income and don’t mind losing your assets or have few assets to lose, Chapter 7 may be the best, whereas if you have more income and don’t want to lose your home and other assets, a Chapter 13 bankruptcy will allow you to get back on your feet.

Your attorney can help you navigate this area of bankruptcy law, and once you have determined which type of bankruptcy you will declare, you can get started on the next phases.

You and your lawyer will have to collect various forms of documentation, and fill out paperwork specific to your situation and the type of bankruptcy you are filing. That paperwork will go to a bankruptcy court, where the judge will decide if you are allowed to declare, or not.

Depending on the type of bankruptcy you have filed, you will have various meetings and have to make plans for liquidation or reorganization. It is important to keep your eye on the future during this phase, to remind yourself of exactly why you are filing.

After a certain time period, your debts will be discharged and you will be able to start picking up the pieces of your finances.

Remember, having an attorney on your side is the best way to get through declaring bankruptcy with success.

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