Financial problems are quite commonplace in the United States today. The severity of the financial issues differs from person to person, but many have felt the effects at some point in their lives. Owing a great deal of debt can leave an individual feeling quite hopeless, and what they are consistently without money at all times, they may feel that they have run out of options. In these cases, filing for personal bankruptcy is the decision that is made. However, the process of filing for bankruptcy online can be complicated as there are many different forms that can be filed. In the cities of San Jose, San Francisco, and Sacramento, individuals who have Chapter 7, Chapter 11, or Chapter 13 bankruptcy questions can receive assistance from California bankruptcy lawyers.
During the third quarter of 2012, California had an estimated 44,352 bankruptcies filed, according to the American Bankruptcy Institute. The state of California allows 75,000 to 125,000 dollars in home equity before it becomes liquidated due to bankruptcy. Chapter 7 bankruptcy laws allow individuals to keep certain property that is exempt from the liquidation requirement. Chapter 13 bankruptcy qualifications require an individual to have 1,081,400 dollars or less in secured debt to file. Those who have Chapter 7, Chapter 11, or Chapter 13 bankruptcy questions in San Jose, San Francisco, or Sacramento, California can seek answers from bankruptcy attorneys.