Best Bankruptcy Lawyers in Glendale

About Bankruptcy Law in Glendale, United States

Bankruptcy is a legal process designed to help individuals and businesses who are unable to pay their debts get relief and start fresh. In Glendale, United States, bankruptcy cases are handled under federal law, though California has its own set of exemptions and specific procedures. Bankruptcy can halt collection efforts, prevent foreclosure, and eliminate or reorganize debt depending on the type of bankruptcy filed. Residents of Glendale usually file for either Chapter 7 or Chapter 13, each with its own eligibility requirements and outcomes.

Why You May Need a Lawyer

Filing for bankruptcy can be complicated. Many people in Glendale seek legal help during bankruptcy due to the technical nature of forms, strict deadlines, and significant impact on finances and personal assets. You may need a bankruptcy lawyer if you find yourself facing:

• Creditor harassment or pending lawsuits
• Home foreclosure or vehicle repossession
• Wage garnishment
• Massive credit card or medical debt
• Confusion about which bankruptcy chapter is right for you
• Difficulties with bankruptcy paperwork or court procedures

An experienced attorney can offer guidance, protect your rights, and help prevent costly mistakes during the bankruptcy process.

Local Laws Overview

Bankruptcy law is primarily governed by federal statutes, but residents of Glendale are also impacted by California-specific laws, especially regarding property exemptions and procedures. Here are some key local considerations:

• California Exemptions: California law allows those filing for bankruptcy to protect certain property from being taken by creditors, such as a portion of home equity, basic household items, retirement accounts, and some vehicles.
• Means Test: Whether you can file for Chapter 7 is determined by the means test, which compares your income to the median income for California households of the same size.
• Community Property Rules: Because California is a community property state, both spouses’ debts and assets may be affected in bankruptcy, even if only one spouse files.
• Automatic Stay: Filing for bankruptcy in Glendale immediately triggers an automatic stay, stopping most collection actions, including lawsuits and garnishments.
• Filing Location: Residents of Glendale file for bankruptcy in the United States Bankruptcy Court for the Central District of California, Los Angeles Division.

Frequently Asked Questions

What types of bankruptcy can individuals file in Glendale?

Most individuals choose between Chapter 7 (liquidation) and Chapter 13 (reorganization) bankruptcy. Both have different qualifications and outcomes for debt relief.

Will I lose my home or car if I file for bankruptcy?

Not necessarily. California exemptions allow many people to keep their primary residence and vehicle, depending on equity and loan balances.

How long does the bankruptcy process take?

A typical Chapter 7 case concludes in three to four months. Chapter 13 involves a repayment plan lasting three to five years.

Does bankruptcy eliminate all debts?

Bankruptcy can eliminate many unsecured debts like credit cards and medical bills, but certain debts such as student loans, child support, and recent taxes usually cannot be discharged.

How badly will bankruptcy affect my credit?

Filing for bankruptcy will negatively impact your credit. Chapter 7 stays on your credit report for ten years, while Chapter 13 remains for seven years. However, many people are able to rebuild credit over time.

Can both spouses file bankruptcy together in Glendale?

Yes, married couples can file jointly, which often makes sense if they share significant debt.

Do I have to go to court if I file for bankruptcy?

You generally must attend a brief meeting of creditors, but most bankruptcy filers in Glendale do not appear before a judge unless there are disputes.

What is the means test and who must complete it?

The means test determines eligibility for Chapter 7 by comparing your household income to California’s median. Those above the threshold may have to file Chapter 13.

How much does filing for bankruptcy cost in Glendale?

Court filing fees are several hundred dollars, and attorney fees vary. Some individuals qualify for fee waivers or payment plans.

Do I need a lawyer to file for bankruptcy?

While not legally required, having a lawyer is strongly recommended to avoid mistakes and ensure your assets are protected within the law.

Additional Resources

If you need further information or assistance, consider these helpful resources:

• United States Bankruptcy Court - Central District of California (Los Angeles Division)
• Legal Aid Foundation of Los Angeles
• California Department of Consumer Affairs
• The National Association of Consumer Bankruptcy Attorneys
• Los Angeles County Bar Association Lawyer Referral Service
• Consumer Credit Counseling Services

Next Steps

If you are considering bankruptcy in Glendale, start by gathering information about your income, debt, and assets. Then, consult with a qualified bankruptcy attorney who can assess your situation and recommend the best course of action. An attorney can handle paperwork, represent you in court proceedings, and help protect your financial future. Use reputable resources for referrals, and ask any questions you have about the process, fees, and your specific concerns before moving forward.

Remember, bankruptcy is a significant legal step, but it can provide the relief and reset you need to regain financial stability. If you are unsure, do not hesitate to seek legal advice as soon as possible.