Clickdesk Code

Frequently Asked Bankruptcy Questions

Common Bankruptcy Questions and Answers

Where is bankruptcy in the bible?

The book of Deuteronomy 15:1-2 states: “At the end of every seven years you shall grant a release of debts. And this is the form of the release: Every creditor who has lent anything to his neighbor shall release it; he shall not require it of his neighbor or his brother, because it is called the LORD’s release”

Chapter 7 today can only be filed every 8 years, but this bible verse could be viewed as a basis for the idea of a bankruptcy filing.

Where are bankruptcy proceedings litigated?

They are litigated at your local bankruptcy court. In Orange County, the bankruptcy court is in Santa Ana. In Riverside and San Bernardino Counties, the bankruptcy court is located in Riverside.

Where are bankruptcy petitions filed?

Bankruptcy petitions are filed at the bankruptcy court of your district. In Orange County, the bankruptcy court is in Santa Ana. In Riverside and San Bernardino Counties, the bankruptcy court is located in Riverside, but a bankruptcy attorney can also file a petition for your electronically through a special bankruptcy filing system that bankruptcy attorneys have access to.

Where does bankruptcy show on credit report?

A bankruptcy will show as a negative activity on a credit report for 10 years.

Which bankruptcy is worse?

Recovering from a bankruptcy always depends on your personal situation and how difficult your past credit situation was before the bankruptcy.

Which bankruptcy is better for your credit?

A Chapter 7 bankruptcy stays on your credit for 10 years after filing. A Chapter 13 bankruptcy is on your report for 7 years after filing.

Which bankruptcy stops foreclosure?

Both Chapter 7 and Chapter 13 can stop foreclosure. It depends which one you qualify for and which one fits your situation best.

Which bankruptcy chapter is right for me?

This will depend on your household income, expenses, number of people in your household and other factors. A bankruptcy attorney should be able to assess your situation and tell you which one would fit you best.

Which bankruptcy clears all debt?

A Chapter 7 can discharge all unsecured debt. A Chapter 13 requires a repayment plan to pay back either partial or full amount of debts.

Which bankruptcy is best?

It depends on your situation. The major factors to determine which bankruptcy will work best for you are income, expenses, number of people in your household, and types/amounts of debts you are dealing with. These factors will help determine which bankruptcy you can qualify for and will be the best bankruptcy for you to use.

Which bankruptcy is the worst?

See previous answer. The worst bankruptcy for you would be the one which you do not qualify for or one which you are not fit to complete.

Which bankruptcy court do I file in?

You should file at the bankruptcy court which applies to wherever you currently reside. In Orange County, CA, the bankruptcy court is in Santa Ana. For Riverside County and San Bernardino County, the bankruptcy court is located in Riverside. For Los Angeles, the bankruptcy court is located in downtown L.A. Here are links to the locations of the courts:

http://www.cacb.uscourts.gov/court-locations/santa-ana
http://www.cacb.uscourts.gov/court-locations/los-angeles
http://www.cacb.uscourts.gov/court-locations/riverside

The reason for this is that you will be receiving correspondence from the court where your bankruptcy petition is filed and you will need to attend a court date at the court where your bankruptcy is filed for a Meeting of Creditors. Contact Bankruptcy Law Professionals to discuss any other options for additional arrangements that can be made outside of attending the court date for your Meeting of creditors.

Where are bankruptcy cases heard?

The 341a Meeting of Creditors is conducted in a location typically near the bankruptcy court where the case is filed. In Orange County it is located at the courthouse in Santa Ana. In Riverside it is at an office building nearby the courthouse. If it is a court hearing, the court hearing will take place at the courthouse where the case was filed ie. the Santa Ana court for Orange County or Riverside court for Riverside County and San Bernardino County.

Where are bankruptcy records kept?

The documents are filed at the US District Court. The documents are typically filed electronically and can be accessed at the courthouse computer terminals or via a website called PACER. There is a cost to access records via PACER.