Bankruptcy History

Structure of the 1978 Bankruptcy Reform Act

The structure of the Reform Act was much more simple and logical than that of the Bankruptcy Act although its simplicity was marred in a few instances by a disturbing resemblance to the drafting style of the Internal Revenue Code. The Reform Act had four titles. The first contained the substantive law of bankruptcy, the new bankruptcy law referred to almost universally as the Bankruptcy Code. The remaining titles dealt with court structure and jurisdiction, amendments to other legislation, and the new rules of bankruptcy procedure. Within Title I there were eight chapters. Chapters 1, 3, and 5, were generally applicable provisions dealing with administration, the estate, priorities, exemptions, and the like. Chapter 7 dealt with liquidating or straight bankruptcy, Chapter 9 with municipal debt adjustments, Chapter 11 with business reorganization, and Chapter 13 with debt adjustments for individuals with regular income. Chapter 15 established a pilot United States trustee program in 18 judicial districts which was to "sunset" on April 1, 1984 unless renewed by Congress. The 1986 Amendments added a new Chapter 12 which dealt with the debt problems of Family Farmers and extended the United States trustee program nationwide which permitted the repeal of Chapter 15. By having Chapters 1,3, and 5 generally apply in cases under Chapters 7, 9, 11, 12 and 13, much duplication of drafting effort is avoided.

San Diego, California

Welcome to San Diego, California's second largest city. Where blue skies keep watch on 70 miles of beaches and a gentle Mediterranean climate begs for a day of everything and nothing. Bordered by Mexico, the Pacific Ocean, the Anza-Borrego Desert and the Laguna Mountains, San Diego county's 4,200 square miles offer immense options for business and pleasure.

Bankruptcy: A legal declaration

Bankruptcy is a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the bankrupt individual or organization).

 

Chapter 7 Chapter 13
  • Are you spending almost all of your income to pay living expenses?
  • Are you behind on your home loan? (Need to stop foreclosure and save your home)
  • Are creditors calling and demanding money that you need to feed yourself and your family?
  • Do you owe taxes or student loans that do not meet the requirements for a discharge?
  • Is there no money left to pay credit cards, medical debt or judgments?
  • Do you want to protect a friend or relative who co-signed for you?
  • Are wages needed for living expenses being garnished by a creditor?
  • Do you need to bring current child or spousal support payments?
  • Was your debt incurred involuntarily, as by sudden calamity or illness?
  • Do you have debts incurred by reason of drunk driving or fraud?
  • Have you had a recent job loss or a marital break-up?
  • Do you need to protect non-exempt assets?
  • Have you suffered emotional distress from creditor harassment and are you eligible for relief under 7?
  • Have you previously filed Chapter 7 within the last eight years?

 

 About Us

The bankruptcy attorneys of the Pacific Bankruptcy Center, serve clients in Southern California, including San Diego County, San Bernardino County, and Riverside County; and the cities of San Diego, Riverside, San Bernardino, Chula Vista, National City, El Cajon, La Mesa, Mission Bay, Hillcrest, Ramona, Julian, Escondido, San Marcos, Vista, Oceanside, Encinitas, Solana Beach, Del Mar, Rancho Bernardo, Rancho Santa Fe, La Jolla, Pacific Beach, Ocean Beach, Little Italy, Old Town, Mira Mesa, North Park, Temecula, and Carlsbad.

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Bankruptcy News

Chapter 7, stop foreclosure, stop harrassment, stop repossessions, stop telephone calls, stop lawsuits, stop utility shutoff's, stop annoying debt collectors, unfreeze bank accounts, regain your financial future, wipe out debt, chapter 13, "0.00 down with a wage order and balance paid through a trustee as part of the payment plan and not paid directly to the attorney, stop foreclosure and other legal proceedings, cram down secured liens,cure over extension of credit, overspending,eliminate medical debt.