Bankruptcy Lawyer | What You Should Know About Bankruptcy

Bankruptcy Lawyer  |  A mountain of debts, combined with potential foreclosure, and other financial problems can become overwhelming. Many turn to a bankruptcy lawyer for a simple, quick solution to these problems. While filing bankruptcy can provide a solution, it should be considered as a later option after exploring other avenues. Nevertheless, in my experience, it is essential to speak to a bankruptcy attorney at the earliest time you recognize there is a problem.

When to File

Once the decision to file bankruptcy has been made, the next step is deciding when to file. A good bankruptcy attorney will counsel you as to the best time to file in order to maximize the benefits of bankruptcy and to protect your financial position. While it is possible to file without an attorney, seeking the advice of a bankruptcy lawyer is always the best course of action. An attorney can advise individuals on which type of bankruptcy they should file, decide which debts can be discharged, explain the tax consequences, and prepare reliable, accurate forms. Over time, a bankruptcy attorney will acquire a reputation within the court system as to the accuracy and dependability of his work. I am an AV Rated bankruptcy specialist practicing in Bakersfield.


The person filing for bankruptcy will be required to provide a complete list of assets and outstanding debts. These documents are signed under penalty of perjury and it is essential that everything is disclosed. A concerned and qualified bankruptcy attorney will work with you carefully to ensure that your paperwork is done correctly and that you are protected. That attorney should also be willing to maximize your ability to retain exempt assets, and advise you in advance as to what assets are not protected.

Assets are classified into two categories:

Exempt assets are those which cannot be used to pay off existing debts. These assets might include personal items, some equity in automobiles and equity in a home. Retirement accounts are also exempt. Non-Exempt assets are those which can be seized to pay off outstanding debts. These assets can include recreational vehicles, boats, and property outside of the primary residence.

Unsecured vs Secured Debt

In addition to listing assets, the individual will also need to separate unsecured debt and secured debt. A bankruptcy lawyer will help in accurately describing these debts. Secured debts include loans that have security interest provided as collateral. This may include a boat, vehicle, or second home. Unsecured debts have not been secured with property as collateral. These types of debt may include credit card debt, personal unsecured loans, or medical bills.


Our office can assist you in determining whether bankruptcy is the right choice for you, and which chapter under the Bankruptcy Code would provide you with the most relief.  To schedule a free consultation with a knowledgeable Bakersfield bankruptcy lawyer about filing a Chapter 7 bankruptcy in Kern County, please call our office today at 661-888-4335 .