Lanphier & Associates
	2817 I Street, Suite 3 Sacramento, CA  95816

Bankruptcy Relief Available to Debtors

When filing for Bankruptcy, you should choose the kind of Bankruptcy that best suits your needs:

Chapter 7: A Chapter 7 is a “liquidation” bankruptcy. All property owned by the Debtor at the time of filing becomes part of the bankruptcy estate and a trustee is assigned to manage the estate. A Debtor is entitled to exempt certain property from the estate based on California and Federal law. All property that is not claimed as exempt, can then be sold by the trustee to pay the Debtor’s creditors. The debtor will then be discharged (released) from personal liability on all dischargeable debts. Certain debts, including but not limited to student loans, taxes, Domestic Support Obligations, fines to the government, and liability for personal injury to another as a result of intoxication are not dischargeable in a Chapter 7 Bankruptcy. The attorney’s fees for this type of Bankruptcy are $__________, and the filing fee is $299.00.

Chapter 11: A Chapter 11 is a reorganization bankruptcy that is mostly used by business organizations. In a Chapter 11, the Debtor may continue to operate his business, but the creditors and the Court must approve a plan to repay the Debtor’s debts. There is no trustee unless the Judge decides that one is necessary. If a trustee is appointed, the Trustee takes control of the Debtor’s business and property. The Debtor receives a discharge as and to the extent provided in his Chapter 11 plan. The attorney’s fees for this type of Bankruptcy are $__________, and the filing fee is $1,039.00.

Chapter 12: A Chapter 12 is like a Chapter 13, but is only for family farmers and fisherman. The attorney’s fees for this type of Bankruptcy are $__________, and the filing fee is $239.00.

Chapter 13: A Chapter 13 is a reorganization bankruptcy is which the Debtor must repay his debts to his creditors over a period of three (3) to five (5) years. The Debtor can usually keep his property, but he must earn wages or have some other source of regular income in which to repay the creditors. The Court must approve the repayment plan and the budget. A trustee is assigned to the case and will collect the payments from the Debtor, pay the creditors and make sure that the Debtor lives up to the terms of their repayment plan. Upon successful completion of the Debtor’s plan, he will receive a discharge (release) from all his dischargeable debt, to the extent that it was not paid through his plan and is, in fact, dischargeable. The attorney’s fees for this type of Bankruptcy are $__________, and the filing fee is $274.00.

This disclosure is being made pursuant to the requirements of the BAPCPA, 11 USC §527 (a)(1), and 11 USC §342 (b)(1)(A).

Date:

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Debtor Joint Debtor