Legal Question in Bankruptcy in California

Re: Bankruptcy law in CA

Actually, a bankruptcy would stop the lawsuit from going forward; and based on the information given so far, you would likely qualify for Chapter 7, which will forgive all dischargeable debts and let you start over again.

A possible complication would be that if the plaintiff is claiming fraud, they might file an Adversary Proceeding to object to your discharge of your debt to them ... but the burden of proof would be on them to prove fraud on your part.

Re: Bankruptcy law in CA

I do not dispute Mr. Whitaker's advice; however, have you spoken with your current attorney regarding your options? He/She should be in a good position to offer you alternatives besides bankruptcy. If you would like a second opinion, feel free to contact my office. Our business litigation services are provided on an upfront fixed fee basis. This provides clients with cost certainty - something that might be beneficial to you at this point.

Yours truly,

Bryan

877.201.8728

619.400.4929

Re: Bankruptcy law in CA

It sounds like you'd qualify for a Chapter 7 bankruptcy and be able to keep your real estate, but you'd have to have a bankruptcy attorney review your details to be sure.

There are some exceptions to the bankruptcy discharge that your plaintiff could try to claim in bankruptcy court, so these should be reviewed as well before you make a decision to file.