What type of bankruptcy do I need to fill if I can no loner pay bills from creditors?

You may be eligible to file Chapter 7 or Chapter 13, both of which can assist with creditor bills. Consult an experienced BK attorney to determine which chapter is best for you.

It depends on the rest of your financial situation. Most likely you would want to look into Chapter 7, given the lack of details. Details such as past due mortgage, too high income, or unexempt (~high value) assets would make a Chapter 13 (or 11) a better choice. If the issue is credit cards, medical, payday loans, deficiency from repossessed car, or just a generic old unpaid bills (in bankruptcy terms non-priority, unsecured creditors) and there are no assets to worry about being sold then it's a Chapter 7. You should talk to an attorney to give the full details of your situation to make sure that you pick the right option for you.

A person who can't pay his or her bills, doesn't always need to file a petition in bankruptcy. Depending on the circumstances, however, filing a bankruptcy case can help you extinguish debt and get a "fresh start." You need to consult with a bankruptcy attorney to determine whether you qualify for the filing of a bankruptcy case and whether you could benefit from the filing of a bankruptcy case. There are four different types of bankruptcy cases that could be filed by an individual person. You need the advice of bankruptcy counsel to determine which, if any, is appropriate for you. Two types, also referred to as Chapters (relating to different Chapters of the US Bankruptcy Code), are most common, and are the ones that likely apply to you and most other consumer debtors. The two Chapters that likely apply to you are Chapter 7 and Chapter 13. The United States Bankruptcy Court publishes an explanation of the the nature of the four bankruptcy Chapters available to individual debtors. Bankruptcy attorneys in California are required to present a copy of the publication to their clients and to discuss with their clients the contents of the publication in order to help their clients choose the type of bankruptcy case that is most appropriate for them. The title of the publication is "Notice of Available Chapters." The information in the Notice, which applies to your question is the following: There are Four Chapters of the Bankruptcy Code Available to Individual Consumer Debtors: I. Chapter 7: Liquidation (Total Court Fee = $306) 1. Chapter 7 is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. Debtors whose debts are primarily consumer debts are subject to a "means test" designed to determine whether the case should be permitted to proceed under chapter 7. If your income is greater than the median income for your state of residence and family size, in some cases, creditors have the right to file a motion requesting that the court dismiss your case under 707(b) of the Code. It is up to the court to decide whether the case should be dismissed. 2. Under chapter 7, you may claim certain of your property as exempt under governing law. A trustee may have the right to take possession of and sell the remaining property that is not exempt and use the sale proceeds to pay your creditors. 3. The purpose of filing a chapter 7 case is to obtain a discharge of your existing debts. If, however, you are found to have committed certain kinds of improper conduct described in the Bankruptcy Code, the court may deny your discharge and, if it does, the purpose for which you filed the bankruptcy petition will be defeated. 4. Even if you receive a general discharge, some particular debts are not discharged under the law. Therefore, you may still be responsible for most taxes and student loans; debts incurred to pay nondischargeable taxes; domestic support and property settlement obligations; most fines, penalties, forfeitures, and criminal restitution obligations; certain debts which are not properly listed in your bankruptcy papers; and debts for death or personal injury caused by operating a motor vehicle, vessel, or aircraft while intoxicated from alcohol or drugs. Also, if a creditor can prove that a debt arose from fraud, breach of fiduciary duty, or theft, or from a willful and malicious injury, the bankruptcy court may determine that the debt is not discharged. II. Chapter 13: Repayment of All or Part of the Debts of an Individual with Regular Income (Total Court Fee = $281) 1. Chapter 13 is designed for individuals with regular income who would like to pay all or part of their debts in installments over a period of time. You are only eligible for chapter 13 if your debts do not exceed certain dollar amounts set forth in the Bankruptcy Code. 2. Under chapter 13, you must file with the court a plan to repay your creditors all or part of the money that you owe them, us

It depends on your income and expenses.

It depends on your particular circumstances. People can file for relief under Chapters 7, 9, 11, 12, 13 or 15. Close to 90% of all bankruptcies are Chapter 7 cases. Chapter 7 is the quickest, easiest and cheapest type of case. However, after 2005, you must satisfy certain requirements to file a Chapter 7 case. If you are a regular individual, your choices are likely filing under Chapters 7, 11 or 13. The next most common type of case is Chapter 13. That type of case requires that you pay no more than what you have leftover at the end of the month after you pay your household expenses (as determined by the Court) for a particular number of years, not exceeding 5. However, you cannot discharge more than a bit over $360,000 in unsecured debt. Chapter 11 is an option if your secured debt is well over a million and/or your unsecured debt exceeds $360,400. In sum, there are many factors to take into account as to what chapter you may be eligible to file or would want to file. That is not an easy question in some situations. Please contact us at 213-389-4362 for a free initial in-person consultation and we can help you determine what chapters are available to you and/or represent you in any chapter you choose to prosecute.

You can choose the kind of bankruptcy that best meets your needs (provided you meet certain qualifications) Failure to qualify is uncommon. Chapter 7 is designed for people who are having financial difficulties and are not able to repay their debts. Assuming you don't have high income and, like most people, have exempt assets, you get to keep everything but the debts (which are completely discharged). Some debts, however, cannot be discharged (a typical example is most student loans.) For most people, the complete discharge of a Chapter 7 is the best option. Chapter 13 is commonly referred to as a repayment plan or a reorganization plan. Under Chapter 13, you keep all of your property, both exempt and non-exempt, as long as you resume making your regular payments on secure debt and keep current under the repayment plan approved by the court. A repayment plan can last for up to 5 years. If you do not qualify for a Chapter 7 (typically because you have high income), then a Chapter 13 may be your only option. Chapter 11 is used mostly by businesses. Which section of the bankruptcy code is best for you depends on your particular circumstances. The first step should be to meet with a qualified attorney who helps people file for relief under the bankruptcy code. An experienced attorney can analyze your situation and explain to you your options. If it appears from this analysis that bankruptcy may be an appropriate remedy for you, an attorney can make a specific recommendation and provide a procedural timetable. If it appears that bankruptcy may not be an appropriate remedy for you, there should be a discussion of other possible alternatives.