When filing for bankruptcy, it’s important for all California residents to be aware of specific, important information. Alberto Montefalcon may provide this necessary information which includes the protections provided by federal law when individuals file a bankruptcy case.

To qualify for relief under chapter 7 of Title 11, also known as the Bankruptcy Code, the debtor must be either an individual, a partnership, or a corporation or other business entity. Anyone eligible may file a case under chapter 7 regardless of the amount of the debtor’s debts or whether the debtor is solvent or insolvent.

However, an individual may not file under chapter 7 or any other chapter if, during the preceding 180 days, a prior bankruptcy petition was dismissed due to the debtor’s willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors sought relief from the bankruptcy court to recover property for which they hold liens.

Also, no individual may be a debtor under any chapter, including chapter 7, of the Bankruptcy Code unless, within 180 days before filing, he or she has received credit counseling from an approved credit counseling agency. There are exceptions to this rule but they only apply in emergency situations.

If you are delinquent on any debt payments, bankruptcy may a solution. The experienced Sacramento metropolitan area/Northern California defense attorneys at the Montefalcon Law Offices are here to help you if your financial position necessitates the consideration of a bankruptcy case filing under Chapter 7, 11, or 13. Contact us online or schedule a consultation at any of our three conveniently located offices. Telephone our downtown Sacramento office at (916) 444-0440, our south Sacramento office at (916) 399-9944, or our Concord office at (925) 222-5929.