Do I Qualify For A California Chapter 13 Bankruptcy
To qualify for a Chapter 13 bankruptcy in California, residents must prove their secured debt and unsecured debt does not exceed a specific value . Other requirements include:
- The debtor must have filed taxes for the four last years prior to the bankruptcy date
- The candidate must have a regular income that supports the proposed repayment plan
A Chapter 13 bankruptcy allows for the successful reconciliation of debts between three to five years. The exact length of the repayment plan is determined by the debtors average monthly income and household income. In addition to salaries, the income used to offset debts may include self-employment wages, social security checks, disability checks, and wages.
What Is Exempted Under California Code Section 703
Some of the items permitted under Californias 703 exemptions include:
- Homestead Exemption: Debtors may exempt up to $29,275 in interest for property used as a residence
- Tools of the trade: California allows for the exemption of professional books, implements, or other tools of the trade up to $8,725.
- Wild card exemption. Debtors may protect assets in any class up to a total of roughly $30,000 .
- Household and furnishing goods: Residents may protect goods, furnishing, appliances, or apparel up to $725 per item
- Retirement accounts
Search For People With Bankruptcy Or Debt Relief Restrictions
Search the list of people with additional insolvency restrictions for the last 3 months.
The list contains details of people who have broken the terms of their bankruptcy or Debt Relief Order. They will have been given a penalty, called a Bankruptcy Restrictions Order or Undertaking or a Debt Relief Restrictions Order or Undertaking .
You may still be able to find information on the Individual Insolvency Register after 3 months but doesnt include any penalties.
You can ask for information about the unfit conduct of an individual by contacting the official receiver dealing with the case.
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What Is The Difference Between A Chapter 7 And Chapter 13 Bankruptcy In California
A Chapter 7 bankruptcy is a debt-repayment option that involves the liquidation of assets and property. In contrast, a Chapter 13 bankruptcy allows individuals to pay off debts with the reduced risk of surrendering assets or liquidating property. The eligibility requirement for each option also varies. While individuals, sole proprietors, and business entities may file for a Chapter 7 bankruptcy, only individuals and sole proprietors may file for a Chapter 13 bankruptcy. In addition, a Chapter 7 bankruptcy typically takes 90 to 100 days to complete, while a Chapter 13 bankruptcy may take three to five years.
What Are California Bankruptcy Exemptions
California bankruptcy exemptions protect certain property and assets from liquidation during the debt repayment process. While some states allow debtors to choose between state or federal exemptions, California law only allows residents to choose between two sets of state exemptions: Code Section 703 or Code Section 704.
Talk To A Bankruptcy Lawyer
Need professional help? Start here.
Before Doing Anything Else Decide If Filing Bankruptcy Is Right For You
Before jumping in, you need to determine whether filing bankruptcy will help you. Bankruptcy is a powerful debt relief tool that’s helped many people, but you’ll have to decide if it makes sense for your financial situation.
A bankruptcy discharge does not wipe out certain non-dischargeable debts like most student loans, child support obligations, alimony, and recent tax debts. If you have any cosigners, they will not be protected by your personal bankruptcy.
If you have great credit when your Chapter 7 bankruptcy is first filed, your . Most people are able to rebuild their credit and have a better score within a year of getting their bankruptcy discharge.
Anyone can file Chapter 7 bankruptcy without a lawyer. Here is an overview of the steps you’ll need to take to obtain your fresh start.
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What Do California Bankruptcy Records Contain
California bankruptcy records have the identifying information of debtors and creditors, their financial information, and other details relevant to the petitioned case. These records can be in the form of documents, reports, audio files, court opinions, and transcripts. Some information that may be found in a record includes:
- The names, addresses, and contact information of debtors and creditors
- The debtor’s assets and income
- The name and phone number of the debtor’s attorney
- List of creditors, type of debts owed , and the owed amounts
- The status of the case
- Case number
- The name of the U.S. trustee and judge assigned to the case
- Closing and discharge dates
- Details on the 341 creditors meeting
- Filing date and type
- The bankruptcy chapter that was filed
What Are Virginia Bankruptcy Exemptions
Virginia bankruptcy exemptions protect specific properties from liquidation. Individuals or entities filing for bankruptcy can opt for Virginia bankruptcy exemptions to cover the following types of assets and properties.
- Death benefits of military personnel
- Personal properties, such as clothing, burial plots, furniture up to $1,000, and permanent disability benefits
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How Do I Find Out If My Bankruptcy Case Is Closed In Virginia
A bankruptcy case becomes closed when the presiding judge issues a final judgment – not when the court discharges the debt. To know if the bankruptcy case is closed, contact the trustee assigned to the bankruptcy case or visit the clerk’s office to confirm the case status. Alternatively, concerned persons may use PACER to check the current status of the bankruptcy case online.
How To File A Chapter 13 Bankruptcy In Virginia
Bankruptcy laws require debtors to take a credit counseling course at least six months before filing a chapter 13 bankruptcy in Virginia. Note that clerks of bankruptcy courts will only accept credit counseling certificates from approved centers. Besides obtaining a credit counseling course, debtors must also take an instructional class in debt management after filing for Chapter 13 bankruptcy.
Persons or entities filing for chapter 13 bankruptcy in Virginia must have the following documents:
- A credit counseling certificate from an accredited center
- Voluntary petition
- Attorneys Disclosure of Compensation
- Disclosure of Compensation of Bankruptcy Preparer
In addition to this, debtors must provide copies of all payments received two months before filing for bankruptcy. Bankruptcy courts in Virginia maintain an online database where debtors can download the above-listed and other necessary forms.
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Research At The Courthouse
If you are not tech-savvy or simply do not feel like researching bankruptcy online, you can search for bankruptcy filing records at the relevant federal courthouse. There are some obvious problems with this method the first being that each courthouse may only have the records for the district it sits in. Your research may not pick up a filing in another district or state. And like with PACER, you may be on the hook for a per-page fee if you want to print any records.
What Is Chapter 11 Bankruptcy In Virginia
Chapter 11 bankruptcy is referred to as reorganization bankruptcy since it enables debtors to reorganize debts and repay creditors within a set time frame. Bankruptcy courts appoint debtors as trustees and allow them to decide the best possible way of repaying their debts. Thus, debtors may opt to liquidate their assets to pay creditors or remain in business while repaying the loans over a set period. Debtors filing for a chapter 11 bankruptcy in Virginia must file monthly operating reports and list expected future earnings with the bankruptcy court – this enables creditors to assess the debtors assets, income, and expenses after the bankruptcy petition.
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What Do Virginia Bankruptcy Records Contain
When an entity files for bankruptcy, procedural rules require specific documents as requirements for the petition. In the ensuing proceedings, the debtor and all the parties to the case, including court staff, will create or submit other relevant documents. These collections of documents make up debtors’ bankruptcy records in Virginia.
Of course, no two bankruptcy cases are the same. Nevertheless, a requester who obtains a bankruptcy record can expect to find the following information and documents in a typical Virginia bankruptcy record:
- Name of the debtor
- The Chapter of Bankruptcy filed
- Businesses owned or partnership
- Filing status
- List of creditors
- Name and contact information of bankruptcy attorneys
- Contact information of the bankruptcy administrator/trustee
- Name of the presiding judge
- Schedule of Assets and Liabilities
- Statement of Financial Affairs
- Copies of Tax Returns filed
- Proof of claim from creditors
- Disclosure statement and plan
- Transcript of proceedings
How Do I Find A Bankruptcy Case Number For Free
Bankruptcy case numbers can be obtained through the Justia.com website. Justia allows free searches for case information from U.S. district courts and courts of appeal. Users can request a search using any combination of jurisdiction, case name, date or type of lawsuit.
According to University of Wisconsin Law Library, federal court dockets, including bankruptcy documents, can be viewed using a service called Free Court Dockets. The Free Court Dockets website offers the ability to view dockets, but in order to view filing information, a PACER account is necessary. PACER is a national index for U.S. district, bankruptcy, and appellate courts. In order to search for court records via the PACER system, a paid account is required. Through the Justia website, however, UW Law Library says that users can obtain a bankruptcy case number for free and use that number on the Free Court Dockets website to view certain details contained on a bankruptcy document.
The Justia website offers the ability to search for lawyers by legal issue and it also has a bankruptcy Q& A section. Users can type in specific questions that are then answered by an attorney registered on the site who specializes in bankruptcy laws within a particular state.
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What Types Of Bankruptcy Are Commonly Filed By Individuals
During your research, you are likely to come across two different types of bankruptcy filings: Chapter 7 and Chapter 13 bankruptcies. There are other types of bankruptcies, but they are more common for companies than individuals.
A Chapter 7 bankruptcy is also known as liquidation bankruptcy. These cases are designed for people with few assets and are typically resolved in a matter of months. Most unsecured creditors have their debts wiped out in Chapter 7, so proceed with caution if you determine the person you are searching for has filed for Chapter 7 recently or in the past.
A Chapter 13 bankruptcy is intended for people who have assets, but who are overwhelmed by their debts. These types of bankruptcies typically take five years to resolve and involve the debtors paying back some of their creditors over the five-year period. If you are a creditor to the person you are searching for and you learn they have a Chapter 13 filing they did not notify you of, you will need to take steps to get involved in the case to ensure you are not left out.
How To Find California Bankruptcy Records
There are several ways to obtain a bankruptcy record in California:
- Online through the Public Access to Court Electronic Records or Courts Case Management/Electronic Filing System
- Telephone via the Multi-Court Voice Case Information System, or McVCIS
- In-person or mail request to the Clerk’s office
- From the National Archive and Records Administration
Obtaining bankruptcy records through Public Access to Court Electronic Records and CM/ECF:
PACER provides members of the public with access to bankruptcy case information and court documents. To use this web-based records system to obtain bankruptcy information, requesters must have a PACER account.
There are fees required to search or download records. The PACER fee schedule provides information on service costs. Some persons and groups may be exempted from paying fees, including academic researchers and other parties .
To search for court records on PACER, a requester must have a party’s name, the case number, a tax identification number, or a social security number .
Note that it is not possible to obtain sealed court records through PACER. Also, documents filed before December 1, 2003, and which have been closed for over a year cannot be accessed through PACER by members of the public. However, everyone still has access to the docket sheets and information. Persons authorized to access the pre-2003 cases are the case participants. These parties can do so through the court’s CM/ECF or at a court’s public computer terminal .
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Search Court Records Online
Another option for searching for bankruptcy filings online is through the official online database known as Public Access to Court Electronic Records, or PACER. This government-operated service allows you to search the court records of any federal court case filed anywhere in the country. PACER provides access to the individual pleadings in a bankruptcy case, so you can see for yourself if you are included in their bankruptcy petition or if their case is at risk of being dismissed by the United States Trustee.
There are some downsides to PACER, however. Once you register for an account, the process for accessing these records can be confusing. The interface is dated, making these searches fairly unintuitive. Whats more, the ability to search by a debtors name is much more challenging than with an online bankruptcy name search, as PACER does not provide any method to verify you have the right debtor unless you already know the bankruptcy case number. PACER also charges users by the page, so acquiring pleadings can be costly in large cases.
How To Search The Register
If values are entered into more than one search field, then bankruptcy records will only be selected if they meet all criteria.
Search results: Expanding Bankruptcy Details
The initial result from a search will display a single line of information on the bankruptcy.
To see more details, click on the green disc to the left of the relevant record. This will expand the display. To close again click on the red disc.
Conventions for entering names and addresses:
|Search entry convention
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Research And Reproduction Fees
Note: The National Archives at Kansas City accepts credit cards, checks, or money order as payment for services rendered.
|Minimum mail order
|Individual pages – digital or paper
|$0.80 per copy
Bankruptcy case files that exceed 400 pages will not be reproduced in full for researchers. National Archives staff can assist researchers with refining their search. You may also decide to hire an on-site researcher on your behalf.
|Self-service paper to paper copy
|$0.25 per copy
|Self-service paper to digital copy
|$0.25 per copy
*These are copies made using the copy machine provided in the research room
Patrons are invited to bring their own digital camera or flatbed scanner to make digital reproductions of archival materials. Please contact us prior to arrival to ensure that your equipment is approved. Wand scanners and form feed scanners are not permitted.
What time periods are covered by these records?
Bankruptcy case files were created by the Federal court to contain the records of bankruptcy case proceedings. The content varies depending on the type of bankruptcy and the time period in which the case was filed. There have been five major Bankruptcy Acts by the Federal government: 1800, 1841, 1867, 1898, and 1978.
*Some courts initiated earlier sampling projects with earlier acts. Questions about sampling should be directed to the National Archives at Kansas City.
What is the research value of Bankruptcy Case Files?
What information is found in bankruptcy case files?
How To Find Bankruptcy Records
- Use the PACER system to locate bankruptcy records online. You can request virtual records online for a fee through PACER. You can also request paper records that are older than 1999 since they have not been updated digitally.
- Use a third-party site to source bankruptcy records. These sites are simple, fast and effective for finding information about bankruptcy cases. While these records are not verified, they can give you information very quickly. You can also use third-party sites for tax lien searches and judgment liens as well.
- Consider hiring an attorney to find old or out of state records. These can be harder to locate. However, you should use the PACER system first if you do not have a lawyer on retainer or you arent dealing with a case currently and you need timely records.
Bankruptcy, in the simplest possible terms, is what happens when a person or business claims that they can no longer meet their debts or make repayments. Single individuals, couples filing jointly and businesses of every size can file for bankruptcy when they cant repay their debts.
For the individual or businesses, declaring bankruptcy allows for a fresh start without past debts looming overhead. While bankruptcy cases are handled by federal courts, most individuals or families with debt will find that declaring bankruptcy is a simple process if they are truly swamped by debt.
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