How to Go Bankrupt in California
California bankruptcy procedures are complex and designed to ensure that the rights of everyone involved in a bankruptcy case are protected, debtors and creditors alike. If you wish to file for bankruptcy in California, it is important to carefully review every document you submit to the courts and to disclose all of the required financial information. Otherwise your case could be dismissed. Additionally, please note that the information presented here is in no way a substitute for professional legal counsel, and due to the complicated nature of bankruptcy, it is recommended that you seek the assistance of an attorney.
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Instructions
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Review your financial situation carefully and determine what kind of bankruptcy would be best for your situation. You can file what is called a Chapter 7, where all of your assets are liquidated to pay off your debt or a Chapter 13, which is essentially a re-organization of your debt, with a payment plan for discharging debts. Some individuals may also be eligible to file a Chapter 11, which uses both asset liquidation and re-organization to discharge debts. If you are uncertain which type of bankruptcy is appropriate for you, consult a legal professional.
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Gather all of your financial information, including the amount of debt and the name and contact information for individual creditors and a list of all of your assets and income.
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Visit the U.S. Bankruptcy Court, Central District of California website or call them to obtain a complete Petition Package for the type of bankruptcy you are filing. This package will contain all of the basic forms you are required to file as well as instructions for filling them out. Any supplementary forms you may need can also be found on the court website.
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Fill out all of your forms completely. Include copies of any records the instructions indicate may need to be attached. It is recommended that you have an attorney or other legal professional review your forms before filing them, even if you choose not to seek representation.
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File your forms with the court and pay the appropriate filing fees. Be sure to keep your contact information updated, provide any additional information or documentation requested by the court and attend any meetings or hearings set by the court.
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