Camarillo 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 Camarillo 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
Riverside 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 repayment strategy to your lenders, and it generally lasts three to five years. It provides to pay all or part of your financial obligation 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, avoid a bank from foreclosing on your home, keep non-exempt home that you consider important, stop interest from gaining on your tax financial obligation, and far more. When you follow the regards to your arrangement to repay your financial obligations, all of your staying dis-chargeable debts would be launched at the end of the payment period. The financial quantity designated to financial institutions under a Chapter 13 bankruptcy must amount to the quantity they would have received if a Chapter 7 bankruptcy had actually been submitted. To file Chapter 13 bankruptcy, you need to have a “regular income” and disposable earnings to apply towards your repayments. Especially when you live in Camarillo CA or in a nearby city.
Normally, a chapter 13 bankruptcy is used when you want to keep protected properties, such as a vehicle or house, where you have more equity in the protected possessions that you can safeguard by utilizing your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your lenders that are not non-dischargeable debts.
A Chapter 13 bankruptcy permits you to make up your overdue payments gradually and to renew your original payment agreement. It may likewise be a much better option when you have a valuable non-exempt residential or commercial property that you want to keep. To keep a non-exempt home, you should pay the creditor for the value of the property.
An exemption limitation would apply to any equity you have in the home. Equity is merely a distinction between the worth of the property and exactly what you owe on it. For instance, 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 home is covered by your exemptions. That is if you are up-to-date on your payments. Also, if you choose to keep making your normal payments on the loan, you can keep the home throughout and after your bankruptcy term is complete. If the equity is not covered by your exemptions, your financial institution might opt to sell that asset then distribute the money resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off possession as a cash payment. Present bankruptcy laws allow a couple filing together to each claim a complete set of exemptions, meaning more property can be protected. 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, spousal support, financial obligations associated with family assistance, student loans, income tax debts within the last 3 years along with other tax financial obligations, charges for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy documents, unless you inform the creditor of your bankruptcy case. Aside from those non-dischargeable financial obligations, everything else consisted of in your bankruptcy case will be released at the end of your agreed upon bankruptcy period.
Map of Camarillo 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