Cabazon 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 Cabazon 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
Ventura 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 strategy to your financial institutions, and it usually lasts three to five years. It provides to pay all or part of your financial obligation from any future earnings you make. You can use Chapter 13 to make up missed out on vehicle payments, pay back taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt property that you consider important, stop interest from gaining on your tax debt, and much more. When you follow the regards to your arrangement to repay your financial obligations, all of your remaining dis-chargeable financial obligations would be launched at the end of the repayment period. The financial amount assigned to creditors under a Chapter 13 bankruptcy must be equal to the amount they would have received if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you must have a “routine income” and disposable earnings to apply to your repayments. Especially when you live in Cabazon CA or in a nearby city.
Generally, a chapter 13 bankruptcy is utilized when you wish to keep safe possessions, such as a car or house, where you have more equity in the protected properties that you can protect by utilizing your bankruptcy exemptions. It’s a reorganization of the debts you owe your creditors that are not non-dischargeable financial obligations.
A Chapter 13 bankruptcy allows you to make up your past due payments with time and to restore your initial payment contract. It might also be a better alternative when you have a valuable non-exempt property that you want to keep. To keep a non-exempt property, you must pay the lender for the value of the home.
An exemption limit would apply to any equity you have in the home. Equity is simply a difference in between the worth of the property and what you owe on it. For example, if you have a truck valued at $10,000 with a loan of $8,500, the truck only consists of equity of $1,500. When you have a residential or commercial 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 current on your payments. Likewise, 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 creditor may choose to sell off that possession and after that distribute the cash arising from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off possession as a cash payment. Present bankruptcy laws permit a married couple filing together to each claim a complete set of exemptions, suggesting more home can be secured. All of this is common in California and throughout the region, and remember, the time to do something is now.
The non-dischargeable debts you can not erase in bankruptcy consist of debts for personal injury/death triggered by DWI/DUI, back child assistance, alimony, financial obligations associated with family assistance, trainee loans, earnings tax debts within the last 3 years as well as any other tax financial obligations, charges for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy documents, unless you notify the creditor of your bankruptcy case. Besides those non-dischargeable financial obligations, whatever else included in your bankruptcy case will be discharged at the end of your agreed upon bankruptcy period.
Map of Cabazon 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