file for bankruptcy protection in orange county, california
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Filing for bankruptcy can protect you from creditors seeking repayment but can also have long-lasting negative effects. Bankruptcy typically stays on your credit report for up to 10 years and lowers your credit score significantly, which can affect any future attempts to obtain credit, rent or buy a home or even find a job. To file bankruptcy in Orange County, California, you must follow the instructions of the Santa Ana Courthouse located at 411 West Fourth Street.
Instructions
1
Stop making payments on debt you wish to discharge. If you know you are going to file bankruptcy and discharge a debt, any money you pay towards the debt will be lost. As bankruptcy will damage your credit rating anyway, making payments to maintain your credit rating is not a viable strategy.
2
Attend pre-bankruptcy counseling. As part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, you must attend an authorized bankruptcy counseling class before you file a bankruptcy petition.
3
Choose a bankruptcy chapter. If you qualify, you can file for a Chapter 7 bankruptcy in which you discharge most if not all of your debts without making any payments. If you have valuable assets worth more than state-defined exemption limits, you must turn those assets over to the court. You can also file a Chapter 13 bankruptcy in which you keep your assets but must make court-ordered payments to your creditors for three or five years.
4
Consult a bankruptcy attorney. Even if you intend to file for bankruptcy on your own, a process known as pro se, you can get free consultations from many bankruptcy attorneys without any further obligation. As filing for bankruptcy in Orange County is a complicated process, you may be able to learn helpful information for free from a licensed attorney.
5
Obtain the correct bankruptcy forms. Bankruptcy is a federal procedure. However, each local court district has its own local rules, including Orange County. Contact the local bankruptcy clerk to ensure you are using all the correct forms and that they are current and complete.
6
Assemble your financial data. Your Orange County bankruptcy petition must include information about all of your income, assets, debts and property transfers. If you forget to include any of the required information your bankruptcy petition may be dismissed or deemed fraudulent, which is a crime.
7
Complete your bankruptcy petition. Ensure your entries are correct and sign the petition under penalty of perjury. Properly completed, a bankruptcy petition in Orange County can easily exceed 50 pages.
8
Attend your 341 meeting. Known as the meeting of creditors, this meeting provides the bankruptcy trustee and any creditors the opportunity to review your petition and ask you any questions regarding the information you provide. Most 341 meetings are uneventful and last only a few minutes.
9
Complete your financial management class. Within 45 days of your 341 meeting, you must attend a post-petition financial management class in order to receive your discharge.
10
Make payments or await discharge. If you filed a Chapter 13 bankruptcy, you will not receive your discharge papers until you fulfill your payment plan. With a Chapter 7 bankruptcy, you should receive your discharge papers a few months after your 341 meeting, if there are no creditor or trustee objections.
Tags: file bankruptcy, bankruptcy petition, Chapter bankruptcy, your credit, making payments, Orange CountySource: www.ehow.com
