Bankruptcy Laws

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Law Offices of
Matthew E. Faler
17330 Brookhurst Street, Suite 240
Fountain Valley, CA 92708

Licensed California Attorney
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Consumer & Business Bankruptcy Laws

Bankruptcy is authorized by The United States Constitution which states in Article 1, Section 8, Clause 4, Congress may enact "uniform Laws on the subject of Bankruptcies throughout the United States." Congress first enacted Bankrupcy legislation in 1801. Over the years, there have been numerous amendments, additions and changes to the Bankruptcy laws. Bankruptcy as we now know it, was implemented by the adoption of the Bankruptcy Reform Act of 1978, codified in Title 11 of the United States Code, commonly referred to as the Bankruptcy Code. Since 1978, the Bankruptcy Code has been amended several times, most recently in extensive amendments in 2005 through the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 or BAPCPA.

There are six Chapters to Bankruptcy

Chapter 7 Liquidation
Chapter 9 Adjustment of the Debts of a Municipality
Chapter 11 Reorganization of Debts
Chapter 12 Adjustment of the Debts of a Family Farmer/Fisherman
Chapter 13 Adjustment of the Debts of an Individual with Regular Income
Chapter 15 Ancillary and Other Cross Border Cases

Most consumers in Orange County will find themselves in either Chapter 7 or Chapter 13. To learn more about the various Chapters of Bankruptcy please click on the appropriate link to the left, or click on the FAQ to answer some of the common questions about Bankruptcy.

Regardless of what any collection agency might tell you, Bankruptcy is not a moral decision, rather it is your Constitutional Right! When a bill collector tells you can’t file for bankruptcy or you are a bad person for not paying your debts, remember our Founding Fathers deemed Bankruptcy important enough to mention it in the Constitution.

Please call us at (714) 465-4433 for a free consultation.