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Federal law, not California law
- Bankruptcy is governed by federal law, not California law.
selfhelp.courts.ca.gov › bankruptcy-guide
Bankruptcy is governed by federal law, not California law. This guide provides basic information and resources, but there are no specific California state forms and you don't file with your county court, as you might for other legal matters.
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Is Chapter 7 bankruptcy right for You?
Oct 9, 2023 · Bankruptcy laws are governed by federal law and the laws themselves do not vary from state to state. However, the median income needed to qualify for bankruptcy can vary by state. Under Chapter 7, a trustee will sell your non-exempt assets to repay your creditors.
In truth, bankruptcy is a powerful tool that can help a person eliminate debt and start over with a blank slate. Today, we’re going to answer some of the most frequently asked questions we hear from our clients in Riverside and Mission Hills.
- Larry Simons
Oct 2, 2023 · Bankruptcy is governed by federal law, but California law will also affect your case. California has two exemption systems that can be used to protect real and personal property. California bankruptcy filers cannot use federal exemptions.
In California, the laws governing bankruptcy are mainly governed by the federal Bankruptcy Code. This set of laws was enacted by Congress in 1978 to help individuals, businesses, and other entities get relief from debt.
Apr 26, 2023 · Although bankruptcy is federal law, the process is different in California than other states. Borowitz & Clark gives you information on how to prepare for bankruptcy in California, types of bankruptcies, how bankruptcy works, and bankruptcy do's and don'ts.
We will explain the California new bankruptcy laws, identify exemptions, and address any questions and concerns you have. To arrange an appointment, call us at (213) 344-0043 and speak to our Los Angeles bankruptcy attorneys.
