Legal Question in Bankruptcy in California
When should we initiate pre-filing bankruptcy counseling? We lost in Superior Court and the neighbor was awarded $220,000.00 As of this date he has not added on the court costs or attorneys fees but we anticipate an amount of $500,000 or more.
We qualify as low income even though we own our own home and have been advised that the only way to go now is to file bankruptcy in order to trey to save our home. However, we aren't sure if we can proceed without the entire amount being documented. But we are afraid he will place a lien on our home. We have not met with the Judge to discuss our financial situation. Does that ever take place?
3 Answers from Attorneys
When should you have consulted a bankruptcy attorney? Probably about 6 months ago. However, it is not too late to initiate the process.
It doesn't matter if the judgment hasn't been finalized and the state court judge won't be concerned about your financial situation UNLESS the court has decided that punitive damages should be awarded.
I offer a free consultation and my office is very close to you. Please call me at (619) 448-2129 for more information about how bankruptcy can help you.
Depending on all sorts of facts you have not mentioned, you either want to file immediately, or you may want to wait things out, litigate certain matters etc.
You need to get some consultations. See what each attorney has to say, get a feeling for who you like, then pick your attorney.
Good luck!
It's primarily a matter of how much equity you have in your home. If you have less than about $100,000 or so in equity bankruptcy may be an option. http://www.absolutebankruptcy.org
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