How do I get started?

To begin the bankruptcy process you must itemize your current income sources; major financial transactions for the last two years; monthly living expenses; debts (secured and unsecured); and property (all assets and possessions, not just real estate).  You should also collect your tax returns for the last two years, deeds and mortgage paperwork to any real estate you own, your car(s) titles and loan documents, and the documents for any other loans you may have.

Once you have gathered this information, either on your own or with the help of an attorney, you should then determine which property you believe is exempt based on the California exemptions.  To actually file, either your or your attorney, will need to file a two-page petition and several other forms at your California district bankruptcy court.  These forms, collectively are referred to as the schedules and ask you to describe your current financial status and recent financial transactions (typically within the last two years).  All the documents filed with the Bankruptcy Court must be accurate, truthful, and complete.  If your creditors or the judge feel or find out that you have not been entirely forthcoming in your bankruptcy filing, it could jeopardize the outcome of your petition.