If you’re wondering how to file for bankruptcy, there are a few important steps that you will want to follow. Before you even ask yourself how to claim bankruptcy, first ask if you have any other options. Bankruptcy isn’t always ideal and will remain on your credit report for up to ten years after you file. However, there are a number of benefits to bankruptcy, and it can be the smartest choice in a number of situations. If you’ve determined that filing for bankruptcy is the best choice for your situation, follow these steps for how to file for bankruptcy in California.

First, you’ll want to find an attorney who can help you through your bankruptcy proceedings. The right attorney can offer you legal counsel regarding how to file for bankruptcy, which type of bankruptcy is appropriate for your situation, and what your life will be like after the whole process is over. A lawyer will be able to advocate on your behalf during the procedure and will help ensure that all paperwork and documentation are provided to the court in a timely manner. Once you’ve chosen a lawyer that you feel you can trust, the rest of the process will fall into place.

The actual legal procedure for how to file bankruptcy in California begins with your petition for bankruptcy. This is a legal document that you or your lawyer will need to fill out and submit to the bankruptcy court. Once your petition has been accepted, the bankruptcy court will place a stay on all of your unsecured debts until your case is completed. Next, you will have to submit all of your financial information to the court. The court will review your information and work with your lawyer and creditors. If you’re filing for Chapter 7 bankruptcy, your assets may be divided amongst your creditors (through liquidation) and the rest of your debts will be discharged. If you’re filing for Chapter 13 bankruptcy, your lawyer will work with the court and your creditors to create a fair repayment plan.

If you find yourself asking, “How do I declare bankruptcy?” it’s probably time to talk to a San Diego bankruptcy attorney. Call 619-306-7627 today to schedule a free one hour consultation with San Diego bankruptcy lawyer, Scott Orona, so you can learn more about the process and the steps involved.