Canoga Park 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 Canoga Park 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

Los Angeles 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.

More About Hiring a Chapter 13 Bankruptcy Attorney in Canoga Park CA

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.

Best Bankruptcy AttorneyIn Chapter 13 bankruptcy, you propose a payment plan to your lenders, and it usually lasts 3 to 5 years. It uses to pay all or part of your debt from any future income you make. You can use Chapter 13 to make up missed out on vehicle payments, repay taxes you owe, avoid a bank from foreclosing on your home, keep non-exempt property that you consider important, stop interest from gaining on your tax financial obligation, and far more. When you follow the regards to your agreement to repay your debts, all of your staying dis-chargeable debts would be launched at the end of the payment period. The monetary quantity designated to financial institutions under a Chapter 13 bankruptcy should be equal to the quantity they would have gotten if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you should have a “routine source of income” and non reusable income to apply to your payments. Especially when you live in Canoga Park CA or in a nearby city.

Usually, a chapter 13 bankruptcy is used when you want to keep safe properties, such as a car or home, where you have more equity in the secured assets that you can safeguard by using your bankruptcy exemptions. It’s a reorganization of the financial obligations you owe your creditors that are not non-dischargeable financial obligations.

A Chapter 13 bankruptcy enables you to make up your overdue payments in time and to renew your initial repayment arrangement. It might also be a much better choice 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 lender for the value of the home.

An exemption limit would apply to any equity you have in the property. Equity is merely a distinction in between the value of the property and exactly 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 just includes equity of $1,500. When you have a 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 lender may choose to sell that property and then disperse the money resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off property as a money payment. Present bankruptcy laws enable a couple filing together to each claim a full 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 eliminate in bankruptcy include financial obligations for personal injury/death triggered by DWI/DUI, back child support, alimony, debts related to household support, student loans, income tax financial obligations within the last 3 years in addition to any other tax debts, charges for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy documents, unless you notify the creditor of your bankruptcy case. Aside from those non-dischargeable financial obligations, everything else consisted of in your bankruptcy case will be discharged at the end of your decided upon bankruptcy period.

Learn More About Canoga Park CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of Canoga Park CA

Our Address

The Bankruptcy Experts
1605 W. Olympic Blvd. Suite 1024
Los Angeles, CA 90015

Office Hours

Monday – Friday: 8:00am – 6:00pm

Saturday: 10:00am – 4:00pm

Sunday: Closed

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