Know the exemptions you have under California bankruptcy law

Knowing and understanding the exemptions you have available to you will make navigating the California bankruptcy laws easier and less time consuming. For example, homestead exemptions in California are based on age, physical ability and marital status. Where you fall in those three categories determines whether you can keep your home, depending on its value, or if you will be forced to sell it.

I recommend: Personal Bankruptcy Information has a chart of all the exemptions that are available under California bankruptcy laws. Moran Law Group offers a detailed explanation of the exemptions available under California bankruptcy law and how they apply in various scenarios.

Understand the process

After the passage of the 2005 bankruptcy laws, filing for bankruptcy has changed drastically. It's not as easy to file for Chapter 7 bankruptcy. There's a new credit counseling provision, and when you file Chapter 13 bankruptcy, you are expected to pay more under your payment plan and face stiffer penalties if you don't make timely payments. Bankruptcy laws in the state of California have been affected accordingly, and you should have a thorough understanding of what the process entails so you can make an already difficult process a little easier.

I recommend: California Bankruptcy Law gives step by step details on how the bankruptcy process in California works. Henry Rendler's Bankruptcy Law gives a detailed overview of the bankruptcy process in California.

Hire a good California bankruptcy attorney when filing for bankruptcy

Like it or not, a good lawyer is absolutely necessary when filing for bankruptcy in California. The more assets you have, the more complicated your filing may be and the more complicated your California bankruptcy. Help yourself by hiring a good attorney.

I recommend: BankruptcyLawyerCalifornia.com has a database of lawyers that can be searched by zip code as well as wealth of information regarding the bankruptcy laws in California. The Law Office Of Mark J. Markus is a federally qualified debt relief agency as well, offering California bankruptcy assistance.