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Avoid Mistakes When Planning and Filing Virginia Bankruptcy Cases

The best-planned bankruptcy cases go unnoticed. A few debtors glide through the system without attracting attention and receive full discharges in record time. Luck is not involved, but rather each successful debtor begins planning strategically a few weeks or months in advance. These debtors know something that you don’t.

Free - 2010 Bankruptcy Strategies Explained

Ask a Bankruptcy Lawyer for Help – Expand Your Options Quickly

If you are thinking about filing Chapter 7 or Chapter 13 bankruptcy, you are not alone. Complete the form below to contact a sponsoring bankruptcy lawyer. Ask all questions you deem important without cost or obligation of any kind. Free help is only a few minutes away.

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"California Small Business Bankruptcy"

Small business status is permitted in California bankruptcy cases filed under Chapter 11. By qualifying as a small business, court appearances and approvals may be combined into concurrent hearings, and the court may reduce statutory waiting periods required generally in Chapter 11 cases.

11 U.S.C. §101(51C): 'small business'' means a person engaged in commercial or business activities (but does not include a person whose primary activity is the business of owning or operating real property and activities incidental thereto) whose aggregate noncontingent liquidated secured and unsecured debts as of the date of the petition do not exceed $2,000,000

The California Bankruptcy Courts adopted new statutory limits (dollar amounts) within Title 11 of the U.S. Code.  Section 109(e) - the allowable debt limit for unsecured debt is increased to $307,675. The allowable debt limit for secured liabilities is increased to $922,975. The minimum aggregate claims need to commence an involuntary petition under Section 303(b) is increased to $12,300. Exemptions provided by Section 522 are also increased. The maximum value of homestead equity that may be claimed is increased to $18,450. Other exemption increases include paragraphs (2) through (8). Luxury goods and services obtained within 60 days before filing are nondischargeble, if exceeding the newly amended amount of $1,225. These amounts are adjusted automatically by California bankruptcy courts every three years.

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California Bankruptcy, California Bankruptcy Laws, California Bankruptcy Courts, Bankruptcy Lawyers FAQ, The information contained herein is not legal advice. California bankruptcy law summaries are provided as general information only. The California Bankruptcy Court Directory contains contact information and jurisdictional coverage by county, The California bankruptcy lawyer directory also includes state and county bar association referral information, as well as jurisdiction and filing tips for Anaheim, Bakersfield, Chula Vista, Fremont, Fresno, Garden Grove, Glendale, Huntington, Long Beach, Los Angeles, Modesto, Oakland, Oxnard, Riverside, Sacramento, San Bernardino, San Diego, San Jose, Santa Ana, and Stockton. Content protected - California Bankruptcy Laws, Courts & Lawyers - ©Copyright 1998 thru 2010, all rights reserved.