Existing user? Sign in
Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Bankruptcy law in Burlingame, United States, is designed to help individuals and businesses who are unable to repay their outstanding debts. The city of Burlingame follows federal bankruptcy laws, as set forth in the United States Bankruptcy Code, and these matters are generally handled by the U.S. Bankruptcy Court for the Northern District of California. Filing for bankruptcy can provide a fresh financial start by eliminating or reorganizing debt under court supervision. The two most common types of bankruptcy for individuals are Chapter 7 (liquidation) and Chapter 13 (reorganization), each with distinct eligibility requirements and outcomes.
Bankruptcy can be a complex and emotionally challenging process with significant legal implications. Many people benefit from hiring a qualified bankruptcy attorney for the following reasons:
Although bankruptcy law is federal, there are local laws and rules that apply in Burlingame, California. California state law determines what property exemptions you can use to protect your assets during bankruptcy. For instance, you must choose between two sets of California exemptions when you file. The local rules of the U.S. Bankruptcy Court for the Northern District of California outline specific forms, schedules, and procedures you must follow when filing in Burlingame. Local legal requirements also affect debtor education courses and the documentation you must provide. Working with a local attorney ensures you comply with both state and federal requirements.
Individuals in Burlingame can typically file for Chapter 7 or Chapter 13 bankruptcy. Chapter 7 involves liquidation of assets to discharge unsecured debts, while Chapter 13 allows for debt reorganization and repayment over three to five years.
Eligibility for Chapter 7 is primarily determined by a means test, comparing your average monthly income with the median for California households of similar size. A lawyer can help assess if you qualify.
Whether you keep your home or car depends on your individual circumstances, the type of bankruptcy you file, and whether your assets fall under California's exemption laws.
Bankruptcy will impact your credit score and can stay on your credit report for up to 10 years for Chapter 7 and up to 7 years for Chapter 13. However, it may help you start rebuilding your credit sooner by eliminating debt.
Most unsecured debts such as credit card balances, medical bills, and personal loans can be discharged. Certain debts, including student loans, recent taxes, and child support, typically cannot be eliminated.
Once you file for bankruptcy, an automatic stay generally prevents creditors from contacting you or taking collection actions, including lawsuits, wage garnishments, or phone calls.
A Chapter 7 case usually takes about 3 to 6 months from filing to discharge. Chapter 13 cases last 3 to 5 years because of the repayment plan requirement.
You are required to attend a meeting of creditors, also called a 341 meeting. Most cases do not require additional court appearances unless there are disputes or complex matters.
Filing for bankruptcy triggers an automatic stay that temporarily halts foreclosure or vehicle repossession. Depending on the bankruptcy type and your payment abilities, it may be possible to keep your property.
The court filing fee for Chapter 7 is generally around 338 dollars and for Chapter 13 about 313 dollars. Attorney fees are separate and vary based on case complexity.
If you need further information about bankruptcy in Burlingame, consider reaching out to the following organizations and agencies:
If you are considering bankruptcy in Burlingame, United States, here are some practical steps to take:
Professional legal advice can help you avoid mistakes and ensure you understand all your options. Seeking help early can provide greater peace of mind and a path toward a stronger financial future.
