​The cost of the bankruptcy depends on multiple variables that we will discuss during our consultation. Generally speaking, Chapter 7 bankruptcies are cheaper than Chapter 13 or Chapter 11 bankruptcy cases, as they require less work. However, since every case is different, it is hard to provide a specific number. The cost of the bankruptcy will include attorneys' fees, costs of filing the bankruptcy (paid to the Bankruptcy Court), and costs relating to counseling, credit reports, etc. We will usually provide our clients with one price that will cover all costs of the bankruptcy so that there are no surprises. 

​Although there are exceptions, most Chapter 7 bankruptcy cases take between 4-5 months from the time the bankruptcy is filed until a discharge is entered (which is essentially an order by the Court wiping out all (or almost all) your debt. On the other hand, Chapter 13 cases can last between 3 to 5 years, and Chapter 11 cases can similarly take several years.  

​Yes. You will certainly get to keep most of your property no matter what kind of bankruptcy you file. Through "exemptions", California law allows you to keep some items (such as household items, IRAs, retirement accounts). Which exemptions apply in your specific situation can be discussed in your consultation.

​No. There are multiple types of bankruptcies. Chapter 7 cases, which can be filed by both corporations and individuals, is the most common type of bankruptcy. Chapter 7 is a liquidation bankruptcy. On the other hand, Chapter 11 and Chapter 13 cases are reorganization cases, which are intended for either businsesses or individuals who seek to keep operating, or are not eligible to file a Chapter 7 case.

​Probably not. Most cases, especially chapter 7 cases, do not require the appearance of the debtor at Court. You will, however, have to appear at a 341(a) meeting of creditors, where you will speak to the Trustee. As part of our services, we will prepare you for this meeting so that you are very comfortable.

​You will get to keep your leased (or financed) car if you can prove that it is necessary for you, and if you can show that you can afford to make the payments. In Chapter 7 cases, you will likely need to file a "reaffirmation agreement" which effect is to ensure that you can keep your car.

​We are aware that there is quite a few bankruptcy attorneys in Los Angeles. However, we are also aware that many of these bankruptcy attorneys run their firms like "mills", where quantity is more important than quality. At Katz Law, this simply does not happen. We guide our clients from beginning until end, and your case will either be worked-on, or monitored by an attorney from beginning to end. Also, our attorneys are always available to answer your questions.