Bankruptcy Attorney in San Marino, CA
Fast Debt Relief Solutions. San Marino clients usually have a different problem from our other cities: a valuable home, significant equity, and debt that has grown out of control after a business setback, a medical crisis or a divorce. Hedtke Law Group helps San Marino homeowners protect that equity while dealing with the debt, and also handles probate and estate planning when those issues overlap.
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Attorney Neil R. Hedtke · State Bar of California #273319 · about 3,000 bankruptcy cases filed since 2010 · West Point graduate and U.S. Army veteran · 5-star rated on Google
Home equity and the California homestead exemption
California’s homestead exemption protects a set amount of equity in the home you live in. In Los Angeles County the protected amount is at the top of the state’s range, which starts at $600,000 and is adjusted each year for inflation. Equity above the exemption is where the risk lies in Chapter 7, because a trustee can sell a home if there is enough unprotected equity to pay creditors.
That is why many San Marino homeowners file under Chapter 13 instead. You keep the home and repay creditors at least what they would have received from a sale, over three to five years.
Business debt and personal guarantees
Owners of small businesses often sign personal guarantees on leases, lines of credit and equipment loans. When the business fails, those guarantees become personal debt. We review which debts are personal, which belong only to the business, and whether bankruptcy, a negotiated settlement or another route makes more sense.
When debt, probate and estate planning overlap
Some San Marino clients call about debt while also settling a parent’s estate or planning their own. An inheritance you become entitled to within 180 days after filing can become part of a bankruptcy case, so timing matters. Hedtke Law Group also handles probate and estate planning, so one office can look at the whole picture.
How the process works
- Free, confidential consultation at the Arcadia office, about 10 minutes from San Marino.
- We estimate your home equity against the homestead exemption and review the means test.
- If bankruptcy fits, we recommend Chapter 7 or Chapter 13 and file after you complete credit counseling.
- You attend the meeting of creditors, and we see the case through to discharge or plan confirmation.
Your attorney
Neil R. Hedtke graduated from the United States Military Academy at West Point in 1992, served five years as a U.S. Army Engineer Officer, and earned his law degree at the University of La Verne College of Law. He was admitted to the California bar in 2010 and has filed about 3,000 bankruptcy cases since. Read more about Mr. Hedtke or verify his license on the State Bar of California website.
Clients with significant assets need precise numbers before filing. Mr. Hedtke reviews property values, exemptions and timing issues such as recent transfers or expected inheritances before recommending a chapter.
Questions we hear from San Marino residents
Will I lose my San Marino home if I file bankruptcy?
Not necessarily. The California homestead exemption protects a large amount of equity in Los Angeles County, and Chapter 13 lets you keep a home even when equity exceeds the exemption, as long as the plan pays creditors at least what a sale would have produced.
Can I file Chapter 7 if I have a high income?
Chapter 7 requires passing the means test. Higher-income households often qualify for Chapter 13 instead. We run the test at the consultation.
Does bankruptcy affect an inheritance?
An inheritance you become entitled to within 180 days after filing can become part of the bankruptcy case. Tell us about any expected inheritance before you file.
Is my consultation confidential?
Yes. What you discuss with an attorney during a consultation is confidential.
Getting to our office from San Marino
From San Marino, take Huntington Drive east into Arcadia. The office on E Santa Clara Street is usually about a 10-minute drive.
Hedtke Law Group
255 E Santa Clara St, Suite 210, Arcadia, CA 91006
Phone: (626) 593-1558
Monday to Friday 9:00 a.m. to 5:00 p.m., Saturday 10:00 a.m. to 1:00 p.m.
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Related help
Neighbors in Pasadena and Temple City use the same office. See our main bankruptcy options page, or our probate and estate planning services.