The simple answer is yes. If you are a lawful resident of California and have been residing in your jurisdiction for 91 or more days out of the last 180 days, you will qualify to file for relief under one of the bankruptcy chapters in that jurisdiction. Most individuals qualify for and file bankruptcy under either Chapter 7 or Chapter 13.
- Chapter 7 is typically referred to as a “liquidation”. However, there are very few people who file under Chapter 7 that ever have any of their property liquidated. Straight forward Chapter 7 cases take approximately 4 months from the date the case is filed until the date the debtor receives a discharge order.
- Chapter 13 is often referred to as a repayment plan or wage earner plan. In a Chapter 13, a debtor proposes a plan to the court wherein the debtor’s creditors will be repaid over 36 to 60 months. Once the plan is confirmed and the debtor completes all payments under the plan, he or she receives a discharge order similar to that in a Chapter 7.