If you’re considering filing bankruptcy in Modesto, CA, you’ll need to understand the types, costs, as well as some helpful advice to finding good attorneys.

Am I Qualified for Bankruptcy?

In Modesto, California, as in other parts of the United States, the eligibility to file for bankruptcy is determined by federal laws, though some state-specific exemptions and provisions apply. Firstly, anyone considering filing for bankruptcy must undergo credit counseling from an approved agency within 180 days before filing.

Chapter 7 Bankruptcy: The most common form of consumer bankruptcy, it allows for a discharge of most debts in exchange for selling off non-exempt assets to repay creditors. To qualify, you must pass the “Means Test.” This test compares your monthly income to the median income of a household your size in California. If your income is below the median, you automatically qualify. If it’s above, you’ll need to provide more details about your expenses to determine eligibility.

Chapter 11 Bankruptcy: Primarily for businesses, but also available to individuals. There isn’t a specific income requirement for Chapter 11, but it’s most appropriate for those with significant assets and debts.

Chapter 13 Bankruptcy: This is a reorganization bankruptcy designed for debtors with a regular income. To qualify, your secured and unsecured debts must fall below certain thresholds.

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Do You Need a Lawyer to File For Bankruptcy in Modesto, CA?

While it’s legally possible to file for bankruptcy without an attorney, doing so can be perilous. Bankruptcy laws are complex, and mistakes can be costly.

1. Understanding Your Options: An experienced attorney can help you determine which type of bankruptcy is right for you. They can provide insights into the nuances of each chapter and its implications.
2. Complex Paperwork: Bankruptcy requires detailed paperwork, including schedules and forms that can be confusing. Missing or incorrect information can jeopardize your case.
3. Avoiding Pitfalls: A lawyer can help protect your assets, advise on California’s exemptions, and prevent any mistakes that might result in the case being dismissed or assets being unnecessarily liquidated.
4. Representation in Court: Having an attorney represent you ensures you’re well-prepared for any hearings, and can answer trustee’s questions on your behalf.

Cost to File Chapter 7 Bankruptcy in Modesto, CA

The cost to file Chapter 7 bankruptcy comprises two main components: filing fees and attorney fees.

1. Filing Fees: The filing fee for Chapter 7 bankruptcy is $398. This can change, so it’s best to check the current fees on the official U.S. Courts website or with the local bankruptcy court.
2. Attorney Fees: Attorney fees vary, but on average, a Chapter 7 bankruptcy attorney might charge between $1,200 to $2,700. This fee depends on the complexity of the case.

Cost to File Chapter 11 Bankruptcy in Modesto, CA

Chapter 11 is typically more complex and expensive than other forms of bankruptcy.

1. Filing Fees: The initial filing fee for Chapter 11 is $1,938.
2. Attorney Fees: Given the complexity of Chapter 11 cases, attorney fees can range from $12,000 to $55,000 for small businesses. For larger corporations or more intricate cases, it can go significantly higher.

Cost to File Chapter 13 Bankruptcy in Modesto, CA

Chapter 13 reorganizes debt into a manageable repayment plan.

1. Filing Fees: The filing fee for Chapter 13 is $393.
2. Attorney Fees: The fees can vary based on the complexity of the case, but typically, they range from $3,700 to $6,400. In many cases, a portion of these fees can be incorporated into the repayment plan.

In conclusion, while bankruptcy can offer a fresh financial start, it’s vital to understand the costs and eligibility criteria. Engaging an experienced attorney is highly recommended to navigate the complexities and ensure your interests are well-protected. Always consult current sources and professionals for the most up-to-date information.

Reliable Bankruptcy Attorneys in Modesto, CA

Below is a list of reputable bankruptcy attorneys in Modesto, CA. They can help you with both personal and business bankruptcy information.

Modesto Bankruptcy Attorneys

912 11th Street Suite 201, 9th St, Modesto, CA 95354, United States

Law Office of Flor A. Tataje

1031 McHenry Ave Ste 20, Modesto, CA 95350, United States

Law Office of Seth L. Hanson

1300 H St, Modesto, CA 95354, United States

Haddix Law Firm

1224 I St, Modesto, CA 95354, United States

Modesto, CA Zip Codes We Proudly Serve:

95319, 95350, 95351, 95354, 95355, 95356, 95357, 95358, 95368

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