Law Offices of Neil E. Schwartz
4900 California Ave.
Suite B210
Bakersfield, CA 93309

Counties Served:
Kern

Contact Information:

Main Phone: 661-326-1122
Fax: 661-377-1515

Areas of Practice:

Bankruptcy

Bankruptcy:
Is It Right For Me?

Chapter 13:
Chapter 13 is a reorganization plan.  It allows you to repay debts, such as missed house payments. This can be used to stop a foreclosure or repossession.

Chapter 7:
Chapter 7 is when you are not obligated to pay anything to your unsecured creditors, with few exemptions. Those exceptions include student loans and certain taxes.

Fees:
The most popular question we get asked is "how much?"
Every case is different.  We offer very competitive fees.

Why choose the Law Offices of Neil E. Schwartz?

• We realize that this is a very stressful and complicated process and are sensitive to your needs.

• We offer a free consultation with the attorney.

• We offer a no homework approach. Rather than have clients fill out long, complicated forms, we do all of the preparation.

• We do not screen calls and are the most accessible attorneys. The attorney will personally prepare and evaluate your case.

• We do not have the paralegal prepare your case.

• Call us today to set up your free consultation and let us help you regain financial success.

Q: What is bankruptcy?

A: California Bankruptcy Law allows individuals or businesses ("debtors") who owe others ("creditors") more money than they’re able to pay to either work out a plan to repay the money over time or completely eliminate ("discharge") most of the bills.

Q: What’s the difference between secured and unsecured debt?

A: Secured debt is a creditor’s claim that’s secured by a lien of some type in your property, either by your agreement or involuntarily such as with a court judgment or taxes. A creditor can generally claim the property that secures the debt in the event of bankruptcy. Unsecured debt is not tied to any type of property, leaving the creditor without any claim to property under California bankruptcy law.

Q: Should I file for bankruptcy?

A: There’s no magic formula for deciding when California bankruptcy is the right choice. It’s an option you might consider if you:

• Are paying only minimum amounts on your bills
• Can’t budget yourself out of debt within five years
• Are getting notices that your mortgage or loans are being foreclosed
• Have had a severe financial setback, such as losing your job or a major client, a divorce or a costly illness

Q: What type, or chapter, of bankruptcy should I file?

A: Consumers typically file California Chapter 13 bankruptcy, where repayment is made to creditors or under California Chapter 7 bankruptcy where the debts are discharged. Each chapter of bankruptcy spells out:

• What bills can be eliminated
• How long payments can be stretched out
• What possessions you can keep
• Additional information

The selection of which type to file depends on your particular circumstances and whether or not there are assets available to repay all, or part, of the debts owed. California bankruptcy laws can be tricky and involved, so determining if you should bankrupt and what type of bankruptcy you need should be made with the input of an experienced bankruptcy lawyer.

Q: Can I change from one chapter of bankruptcy to another?

A: Generally, you can convert a case once to any other chapter for which you are eligible. The request to convert can be a simple one-sentence document. There are issues to watch when going from on chapter to another, though. For example, when moving from a Califonia Chapter 13 bankruptcy to a Califonia Chapter 7 bankruptcy, you’ll need to review whether you have acquired items that will now be considered property of the estate under Chapter 7 that wasn't part of the previous filing.