Blythe Chapter 13 Lawyer
Do You Need a Chapter 13 Bankruptcy Attorney?
It’s time to consider bankruptcy if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, loans and back taxes owed to the government and even car repossessions.
Chapter 13 Bankruptcy Lawyers Near Me in Blythe CA
Experienced, professional bankruptcy attorneys understand the difficulties and worries you face. We know your best options. We are here to help and will work with you to alleviate your financial uncertainty. Even before your bankruptcy petition is filed, an attorney can help shield you from creditor harassment. In a non-judgmental and supportive way, we can help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.
Free Bankruptcy Consultation – Call Now (855) 997-4655
Santa Barbara County Bankruptcy Attorney, The Bankruptcy Experts, are dedicated BK Lawyers with over 10 years experience in dealing with the complex issues concerning bankruptcy. We have the skills and expertise to handle any type of bankruptcy problems you might be experiencing. We proudly offer our services to businesses and individuals throughout Los Angeles and the surrounding areas.
You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.
A Second Chance
Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.
In Chapter 13 bankruptcy, you propose a payment plan to your creditors, and it typically lasts three to five years. It provides to pay all or part of your debt from any future earnings you earn. You can utilize Chapter 13 to make up missed out on cars and truck payments, pay back taxes you owe, prevent a bank from foreclosing on your house, keep non-exempt residential or commercial property that you consider important, stop interest from gaining on your tax financial obligation, and a lot more. When you follow the regards to your agreement to repay your financial obligations, all of your remaining dis-chargeable financial obligations would be released at the end of the payment period. The monetary quantity assigned to financial institutions under a Chapter 13 bankruptcy should amount to the amount they would have received if a Chapter 7 bankruptcy had actually been submitted. To file Chapter 13 bankruptcy, you must have a “routine income source” and disposable earnings to use to your repayments. Especially when you live in Blythe CA or in a nearby city.
Usually, a chapter 13 bankruptcy is used when you want to keep safe assets, such as a car or home, where you have more equity in the secured assets that you can protect using your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your lenders that are not non-dischargeable financial obligations.
A Chapter 13 bankruptcy allows you to make up your overdue payments with time and to reinstate your initial repayment agreement. It may likewise be a much better option when you have an important non-exempt home that you want to keep. To keep a non-exempt residential or commercial property, you must pay the financial institution for the worth of the property.
An exemption limit would apply to any equity you have in the residential or commercial property. Equity is merely a distinction in between the worth of the property and what you owe on it. For instance, if you have actually a truck valued at $10,000 with a loan of $8,500, the truck only includes equity of $1,500. When you have a property that is held by a loan, the equity you own in that residential or commercial property is covered by your exemptions. That is if you are up-to-date on your payments. Also, if you choose to keep making your regular payments on the loan, you can keep the property throughout and after your bankruptcy term is complete. If the equity is not covered by your exemptions, your lender may choose to sell off that asset and then distribute the cash resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off property as a cash payment. Existing bankruptcy laws permit a couple filing together to each claim a complete set of exemptions, meaning more residential or commercial property can be safeguarded. All of this is common in California and throughout the region, and remember, the time to do something is now.
The non-dischargeable financial obligations you can not erase in bankruptcy include debts for personal injury/death caused by DWI/DUI, back kid support, alimony, debts associated with family assistance, trainee loans, income tax financial obligations within the last three years as well as other tax debts, penalties for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy papers, unless you notify the financial institution of your bankruptcy case. Aside from those non-dischargeable financial obligations, everything else included in your bankruptcy case will be released at the end of your decided upon bankruptcy period.
Map of Blythe CA
The Bankruptcy Experts
1605 W. Olympic Blvd. Suite 1024
Los Angeles, CA 90015
Monday – Friday: 8:00am – 6:00pm
Saturday: 10:00am – 4:00pm