California bankruptcy law education and training will teach you how to resolve your clients’ debts by dividing their assets among their creditors. This allows each creditor to achieve some measure of equality under the law. A filing under Chapter 7 is called liquidation and involves the sale of all the debtor's non-exempt property. A bankruptcy proceeding under Chapters 11, 12 or 13 allows the debtor to use future earnings to pay off creditors.

The qualifications needed to provide California bankruptcy help are determined at the state level and also will be affected by the specific type of bankruptcy that the client requires. There are three general phases in obtaining an education in bankruptcy law:

1. Formal education. An attorney who provides California bankruptcy assistance will typically need at least a Juris Doctor (J.D.) degree from an accredited law school in California. An advanced degree such as a Masters of Law (L.L.M) will further help distinguish you from your colleagues.
2. Membership in professional organizations. Practicing attorneys will want a membership in one of the many associations dedicated to bankruptcy law in California.
3. Legal specialization. Bankruptcy attorneys in California can become designated specialists in bankruptcy law by meeting the state's specific requirements.
   

Action Steps
The best contacts and resources to help you get it done

Attend a law school that specializes in educating California bankruptcy lawyers

There are a variety of universities in California that provide a concentration in bankruptcy law. These schools are equipped to offer a solid education on the current bankruptcy laws in California.

I recommend: The University of California Davis School of Law offers business law as an area of concentration, which includes a study of bankruptcy law. The University of California, Los Angeles, School of Law offers a specialization in business law and also has a bankruptcy research database.

Find professional forums for California business bankruptcy laws attorneys

Professional online forums can provide a daily educational opportunity for bankruptcy attorneys in California. These include information on recent changes in bankruptcy law and advice on building a practice.

I recommend: The California Mortgage Association provides current articles on bankruptcy law in California written by practicing attorneys. The California Bankruptcy Lawyer Blog offers current legal information on all aspects of California bankruptcy Law.

Obtain a specialization in bankruptcy laws in the state of California

California allows attorneys who practice certain areas of the law, such as bankruptcy, to be certified as specialists. A bankruptcy attorney in California will need to know California's specific requirements for a specialization in bankruptcy.

I recommend: The State Bar of California provides the complete standards for becoming certified in California bankruptcy law. Meet the bar's requirement for continuing legal education in bankruptcy through online courses at Legalspan. The American Bar Association provides a summary of the regulations on legal specialization in California.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Attorneys also will want to join professional organizations that are dedicated to the practice of California bankruptcy laws. These associations provide a number of resources essential for the practicing bankruptcy attorney, including contact information for important courts, assistance with Continuing Legal Education (CLE) requirements and links to bankruptcy laws.

CA bankruptcy laws aren’t the most favorable to the debtor nor are they the most restrictive. If you are considering bankruptcy, research California bankruptcy law before you proceed with the decision so you know what to expect from the process and what exemptions you are entitled to.

When starting a business, no one thinks they will fail; however, things happen and there may come a time when filing for bankruptcy becomes the best course of action for yourself and your business. Before filing for bankruptcy, keep in mind the following:

1. Have a plan for life after California bankruptcy. Help yourself by looking at your current situation as an end, and in many ways it is, but also view it as a new beginning.

2. Have a good understanding of bankruptcy laws in California and how they can affect your life--from your credit rating to your ability to start a new business.

3. Understand what brought you to this point. Learn from the situation so if you ever start another business, you can avoid bankruptcy a second time.

Action Steps
The best contacts and resources to help you get it done

Know the exemptions you have under California bankruptcy law

Knowing and understanding the exemptions you have available to you will make navigating the California bankruptcy laws easier and less time consuming. For example, homestead exemptions in California are based on age, physical ability and marital status. Where you fall in those three categories determines whether you can keep your home, depending on its value, or if you will be forced to sell it.

I recommend: Personal Bankruptcy Information has a chart of all the exemptions that are available under California bankruptcy laws. Moran Law Group offers a detailed explanation of the exemptions available under California bankruptcy law and how they apply in various scenarios.

Understand the process

After the passage of the 2005 bankruptcy laws, filing for bankruptcy has changed drastically. It's not as easy to file for Chapter 7 bankruptcy. There's a new credit counseling provision, and when you file Chapter 13 bankruptcy, you are expected to pay more under your payment plan and face stiffer penalties if you don't make timely payments. Bankruptcy laws in the state of California have been affected accordingly, and you should have a thorough understanding of what the process entails so you can make an already difficult process a little easier.

I recommend: California Bankruptcy Law gives step by step details on how the bankruptcy process in California works. Henry Rendler's Bankruptcy Law gives a detailed overview of the bankruptcy process in California.

Hire a good California bankruptcy attorney when filing for bankruptcy

Like it or not, a good lawyer is absolutely necessary when filing for bankruptcy in California. The more assets you have, the more complicated your filing may be and the more complicated your California bankruptcy. Help yourself by hiring a good attorney.

I recommend: BankruptcyLawyerCalifornia.com has a database of lawyers that can be searched by zip code as well as wealth of information regarding the bankruptcy laws in California. The Law Office Of Mark J. Markus is a federally qualified debt relief agency as well, offering California bankruptcy assistance.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Don't settle on the first bankruptcy attorney in California you talk to. Shop around and find an attorney that you feel comfortable dealing with such a personal aspect of your life.